We get started with a voicemail from Maggie’s mom, which is why you all need to call or text us and leave us a voicemail question, or tip and we will play it on the air - 404-981-3370.  In her voicemail she asks if you should take a 0% car loan if a car dealer is offering one and use your money to invest or pay cash for the car.   This is our 50th podcast episode, and it’s actually a very fitting topic as we dig into the importance of having friends challenge you on purchases, especially big ones.  Sometimes friends and peer pressure can have negative consequences on your finances and convince you to do things that aren’t so responsible, but the good things about having “friends on FIRE” is that they are challenging you to do the opposite.  Friends on FIRE are friends that challenge you to make more thoughtful and responsible decisions for the right reasons.   Maggie wants to buy a 2020 Subaru Ascent, and her top justifications for buying a new car, and this specific car, include:A car with a 3rd row / towing capacity - Maggie has 3 kids and wants to be able to travel with extra family members and their kid’s friends, take their 5 bikes on trips with them, and more.  She likes the idea of a new car as she’s very clean and treats things more nicely than most people.  She can afford it and would pay cash for it, and it doesn’t affect her retirement timeline.  She works hard and wants to treat herself.  She likes Subarus.  Mike asks Maggie many questions, including:The cost of the carThe cost of her current car and how long she’s had itThe cost of the previous car before that and how long she had itTrade-in value for her current carNumber of years she commits to driving this new carThe longest period of time she’s ever owned a carMike’s supportive of Maggie buying a used car that better meets her family’s needs, but he’s not supportive of buying a new car or this specific car.  Mike’s rebuttal reasons to Maggie for how he would think about a purchase like this as a framework for her decision.  This same framework could be used for any large purchase decision:You can find a used car with all of the similar bells and whistles for half the cost of this new Subaru.  Mike breaks down the cost difference of the new car and specific brand Maggie wants, of $40-50K vs. a car with all the functional benefits of what her family needs for $20K.  The simple things and functional needs can be found in a $20K car (vs. a $40-50K car).  He asks questions of whether the brand, a new car, etc are worth a premium $20-25K to Maggie.  Just because you have money doesn’t mean you should spend it.  Brands and not getting hung up on a specific brand.  It’s all marketing.  Maggie can’t even explain why she’s so enamored with Subarus, but she is.Mike goes through a “how much is it worth to you” exercise with Maggie, and it does challenge some of her thinking of what premium she’s willing to pay for a new car and for a Subaru Ascent specifically.  Our top 3 takeaways for this episode:Encourage your friends to challenge your purchases. Your friends are friends because you share values, so their feedback will help you.Cars are still the worst.  By worst we mean they can be one of your biggest life expenses when in reality they are really a utility to get you from point A to point B.Understand the premium you are paying and what exactly you are paying it for. If you still want to make the purchase, at least you have been honest with yourself.---Show ReferencesFriends on FIRE episode #9 - Cars at the WorstSubaru Ascent---Follow friends on FIRETwitterInstagramFacebookLinkedInLeave us a voicemail or text us: 404-981-3370eMail us at:  friendsonfiremm@gmail.comVisit our website: www.friendsonfire.org---Other LinksMaggie’s Blog: Mostly Minimal LifeMike’s Book: Your New Relationship with Money