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iQuestions Faculty, Ron Blue 
 
 
Question: 
 
Financially, what is the best car for me to drive? 
 
Answer: 
 
I’m going to get real personal with you, and I’m going to talk about 
cars. Because, as a male, I really enjoy a new car. There is nothing 
like driving a new car off the lot. It smells good, it feels good, and it 
makes me feel good about myself. 
 
As a CPA, an accountant, and as a financial planner, several years ago, 
I began to analyze what’s the best car decision that I could make and 
what’s the cheapest car that I could ever drive. I came to the 
conclusion, mathematically, that the cheapest car that I could ever 
drive was the car that I presently owned. At that time, I owned about 
a ten-year-old Oldsmobile 98 that was rusted out and had holes in the 
seats. I was looking to buy another car, but I found out that the 
cheapest car that I could ever buy was the one that I presently owned. 
The reason being, even though maintenance costs go up, your 
insurance cost go down, your repair cost could go up, but the 
depreciation on that car tends to level out and go down over time. 
 
As you drive a car, the longer you drive a car, the cheaper it becomes 
to run. In America today, we have bought into the idea that “I need to 
buy a new car every two or three years, and I need to finance it”—one 
of the biggest financial mistakes people make is that they end up in 
bondage to a car.  
 
 
 
I would suggest this to you: I don’t care what kind of car you drive, 
but always pay cash for your cars. People tell me, “Well, I can’t afford 
that.” And that’s the point. You probably can’t.  
 
Save for your car purchases, pay cash for your cars, drive them as 
long as possible, and from a financial standpoint, you will be making 
the wisest financial choices, relative to your cars. 
 
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