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Dave Says: Worry about Your Wallet, Not Your Image

by | Mar. 27, 2012

Finances

Dear Dave,

I’m a new doctor, and I drive a car that has over 200,000 miles on it, is 10 years old, and a few dings in the doors. I’ve heard image is everything when you’re a doctor, but I like not having a car payment. Should I just get over being self-conscious about my old car?

Mario

Dear Mario,

I like not having a car note, too. I’d walk, ride a bike, or drive your car with a great, big smile on my face before I picked up a car payment!

As new, young doctor you’ve probably got six figures in student loans hanging over your head right now. So you need to get out from under all that before you start thinking about driving something fancy. If this car is truly on its last legs, then I’d say save up for a few months then upgrade to a good, reasonably-priced, used car.

Just remember, a Mercedes or BMW doesn’t prove you’re a doctor, and it doesn’t mean you’re a good doctor, either. You just need to worry about what’s smart for you instead of what other people think!

—Dave

For more financial help, please visit daveramsey.com.
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