Skip to Content

7 Real Reasons Why Cars Are a Waste of Money

Most people in the Unites States own a car or other motor vehicle and have dine for many years now, they remain the most popular form of transportation in the country and have many good things about them.

Despite this, plenty of people have opted to ditch their 4 wheeled companion in favor of an alternative such as a bike or e-scooter and for good reason.

Today we will be looking into why cars are a waste of money and perhaps give you something to think about when it comes to replacing your vehicle in the future. 

7 reasons why cars are a waste of money:

  1. They Are Unnecessarily Expensive
  2. You Lose Money Selling Them
  3. Fuel Costs Are Rising Exponentially
  4. They Can Cause Injuries
  5. Not Environmentally Friendly
  6. Impractical In Busy Places
  7. Alternatives Are Better

1. They Are Unnecessarily Expensive

The first reason why cars are a waste of money is that they are simply to expensive to buy in this day and age. The average car price in the United States is currently sitting at around $50,000 for a new model, this is around 10% higher than it was last year which is a pretty incredulous figure in all honesty. 

The cost of leasing a car is much lower than purchasing one outright, but eventually the cost of essentially renting your vehicle will begin to add up and make it less of a financial frugal choice. 

These costs are before we even consider the cost of insurance for your vehicle or applying road tax to it.

For young drivers, the cost of buying a car is becoming less and less viable as the years go by and many are deciding to steer clear of them entirely, instead opting to use public transport or one of the many other alternatives available (which we will return to later). 

2. You Lose Money Selling Them 

Not only are cars expensive to purchase in the first place, but they are also bad for your wallet when you try and sell one.

As soon as you drive your new car off the garage forecourt they begin to depreciate in value, and this continues as you drive them around whilst they become outdated. 

When it comes to the time for selling up and replacing your car, you get very little of the money you first spent back. Many may not see this as an issue, but surely you want to make as much money back as possible. 

Of course you could part-exchange your old car to reduce the price of a newer one, but this is also something that car dealerships want you to do as it allows them to sell the car for scrap and still make money from it, or even resell it at an inflated price.

3. Fuel Costs Are Rising Exponentially

Whilst the cost of fueling a car has never been cheap, it is only getting worse. The recent invasion of Ukraine has meant that oli prices in Europe have risen to record heights as the Russian government continues to restrict the transport of crude oil and gas around the world.

You may wonder what impact this has on US markets, but it is merely a case of supply and demand. As less fuel becomes available on the open market, the price is ramped up as countries scramble to buy enough fuel and gas to power their homes and vehicles.

This has led to US companies having to pay more for their oil that they can then turn into petrol and diesel. 

It just makes no sense to make the investment in a petrol or diesel car in the current climate. 

4. They Can Cause Injuries

We aren’t here to fearmonger, and we are not talking about the potential for road traffic accidents in this piece as they can occur to anyone on the road, not just car users. Today, we are talking about the potential long-term damage that sustained car use can cause to drivers. 

Have a think, when you last went on a long car journey did you back start to hurt after a while, or your feet hurt from staying on the pedals for too long?

Drivers are susceptible to a range of driving related ailments such as slipped discs and tight muscles that can cause discomfort whilst in the car. 

Whilst other forms of transport can still cause injuries, they are less stressful on the body (especially public transport, as no human input is required).

5. Not Environmentally Friendly

This is an issue with cars that the world really needs to take more seriously. Cars and other motor vehicles are one of the main drivers of pollution that can cause a whole host of environmental impacts such as poor air quality, noise pollution and light pollution amongst others.

Fossil fuels burning are also contributing to global warming and therefore climate change.

Some people cite the rise of electric cars in this debate, stating that they are more environmentally friendly and to some extent they are as they are quieter and produce no emissions themselves.

The issue with these cars is that they need to be powered by electricity and this needs to be generated at power plants that often burn fossil fuels to power their turbines, causing massive amounts of pollutants that get dispersed into the atmosphere.

Next time you think of buying an electric car, have another think about how environmentally friendly they really are. 

6. Impractical In Busy Places

In the modern day, cities and even small towns are becoming congested as the usage of cars increasing.

This can mean that you sit in your car for much longer than you may want or need to, therefore wasting money by burning fuel and simply becoming bored as you wait in traffic for the third time today. 

It makes very little sense to have a large car in a city for anyone other than people that want to flaunt their wealth or drive further afield.

There are some more compact options available, but US citizens remain reluctant to give these European inventions a go as they don’t want to flood the market with non-American made cars. 

This I understand, as it is always better to have homemade products on our streets in order to keep the economy strong, though perhaps the odd European compact would be a good idea for commuting? 

7. Alternatives Are Better

We have touched upon this final point throughout this piece, and it is because it may just be the most important nowadays. There are plenty of great alternatives to buying a car these days. 

To start with, the rise of e-scooters in urban areas has meant that people can avoid the daily traffic on their commute and have an eco-friendlier way of getting around quickly.

Bikes have always been popular in this country, and they are also a great option for when you are making a short to medium trip such as grocery shopping, they are also a brilliant form of exercise. 

Publica transport may not be to everyone’s taste but is does provide a cheap and efficient way of getting around the country whilst not using your own energy and wasting valuable fuel reserves in your car. 

Finally, US people need to use their legs more! Walking is the most simple and affordable way to get from A to B and is another great way to fit some exercise into your day. Many people in Europe walk to the shops for everything and we should too. 

Hopefully this short piece has made you realize the reasons why cars a waste of money in the present day and opened your eyes to the superb alternatives that are out there for you to try.