Jan 12 • First Home lock in 2026 🔥
The $42k Car That Almost Cost Me My House
G’day crew 👊
When we found out we were having a bub, we realised our old car just wasn’t safe anymore.
So we did the research, crunched the numbers, and went for a MUX big, reliable, perfect for family road trips and camping, and still on the cheaper side.
We took a $42,000 loan.
I thought I was being smart: paying almost double each payment, smashing it down fast.
But here’s what I didn’t realise back then:
Banks look at the original loan amount when calculating your borrowing power not how much you’ve paid off.
That $42k loan ate over $160,000 of my potential house borrowing power.
Even though I paid it down super quick, it didn’t matter.
Lesson hit hard.
Now in February?
Car will be paid off completely ( 17 months total )
Then we go full send on the house deposit.
Looking back would I do it differently? Probably.
But honestly?
I’m glad I didn’t. We love the car. It’s the best we’ve ever had.
And now I know better.
So if you’re a dad thinking about a new car right now pause.
Run the numbers on how it affects your house dream.
Sometimes the “smart” purchase is the one that waits.
What about you?
Ever had a big purchase bite your borrowing power?
Or nailed the balance between family needs and future freedom?
Drop your story below let’s learn from each other 💪
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The $42k Car That Almost Cost Me My House
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