In many parts of the world, especially in North America, cars aren’t just a mode of transportation. They’re a status symbol. The make and model sitting in your driveway often gets interpreted as a reflection of your success, your style, and sometimes even your character. Society has trained us to associate certain brands with wealth, power, or “making it.” Drive a Tesla? You must be thinking forward. A lifted truck? Rugged and capable. A luxury SUV? Probably doing well financially. Or so the story goes.
But let’s break that narrative down, especially from the lens of a growing family.
The True Cost of a Family Car
For a family of four (or more), car ownership becomes more about function than fashion, at least, it should. Let’s look at the numbers:
- Average monthly car payment (U.S., 2025):
- New car: ~$750/month
- Used car: ~$530/month
- Insurance: $150–$250/month depending on state and driver history
- Fuel & Maintenance: $200–$400/month
- Annual Total (for a single car): $13,000–$17,000
Now multiply that by two cars, which is common for families, and you’re looking at $26,000–$34,000 per year just to get around. For comparison, that’s often more than what some families spend on food or even housing in rural areas.
The Misconception of the Expensive Car
Here’s where the trap comes in: many people stretch their budget or take on debt just to drive something that looks impressive. Leasing a luxury car to “look the part” may feel like a confidence boost, but over time it siphons money away from other priorities like college savings, debt repayment, saving for a home purchase, vacations, and freedom. Getting in over your head with your living expenses can make you feel trapped with an employer you no longer want to work for.
Driving an expensive vehicle might gain admiration in a parking lot, but it doesn’t necessarily reflect financial wisdom or personal fulfillment. That said, there is nothing wrong with splurging on a car, boat, or offroad vehicle if you can afford it and it doesn’t get in the way of other financial priorities.
Our Family’s Reality: 12 Seats of Purpose
There was a time I couldn’t even conceive of driving a van, let alone a Nissan 12-passenger one. It felt like something you’d see dropping off church youth groups or a touring band. But now? It’s one of the greatest privileges of my life.
That van doesn’t just haul our family of six, it can carry a lot of gear to soccer games, weekend camping trips, homeschool co-ops, and road trips that turn into lifelong memories. With four kids in tow, we’re not chasing image, we’re chasing time together, and that van is the vessel for it.
With the exception of the COVID phenomenon when car prices shot up because of a chip shortage, and used vehicles became more expensive than new vehicles in some cases, vehicles are a depreciating asset. From a financial perspective, the less you can spend on vehicles in your life the better.
My family went down to one vehicle for a few years when we were in Toronto. Some of our neighbors didn’t even have a drivers license, which was foreign to me coming from Phoenix. I was on a work permit and riding public transit to the office. Traffic and expensive parking is a problem in Toronto so riding public transit can be much easier and quicker.
Our children’s school was on the other side of the block and my wife didn’t have a work permit. We had no need for a second vehicle, so we decided to ditch the extra expense.
Now, my wife and I mostly work from home and our children have been homeschooled for the past five years. It wasn’t until our children were old enough to start extracurricular activities that we decided to get a second vehicle. One person or vehicle cannot get four children to where they need to be once they get going with sports and activities.
Will my wife and I someday be cruising in a drop-top convertible, wind in our hair, perhaps with a playlist full of 90s R&B? You better believe it. But for now, this season of life is about something richer than image, it’s about meaning. Plus, kids trash cars. It is much less stressful driving a vehicle where you don’t care as much about the common spill or melted Crayons on the seat.
What Does Your Car Say About You?
So… what kind of car do you drive?
And do you believe it says something about your values or personality?
There’s nothing wrong with enjoying a nice vehicle. Cars can absolutely be a reward, a joy, even a reflection of hard work. But it’s worth asking: is your car working for you? Or are you working for your car?
Because at the end of the day, what matters most isn’t what’s parked in your garage, but who’s riding alongside you, and where you’re going together.
Let’s keep the wheels turning in the right direction.
