I see peace of mind , but I think what most of them miss is aspiration .
For a salaried class , especially a first time buyer I would suggest at trying to generate additional income rather than buy a car . For example , when I started out with my business I invested most of the money on building another floor on top of my house . I could have used the money to live off comfortably , bought a car or even got drunk . Eventually , I built around 6 portions with the money from business and some hand loans . I took it slow and did the construction only when I had money in my account . Now , my household expenses and even my savings come from those 6 houses rentals . It gives me more peace of mind to not mind about paying driver salary , fuel expenses , school fees , taxes etc .
My suggestion would be to try and buy property , even a single bedroom apartment . Usually the smaller ones have much higher demand than the bigger ones . Relieve yourself of attending to family expenses and then plan your own path . It gives me a lot of peace to plan my next move than have a few odd lakhs in the bank .
I suggest buying cars on loan .I always try to have emi lined up , so when my car loan gets over I buy another car , land , apartment etc . When you do not have commitment /aspiration you are just a human in existence . When you have a commitment then one strives to excel at work , excel at what he/she does . you always try to move up the ladder and not get tired because you get to experience the better things in life . You also have the satisfaction of leaving something behind for your kids .
Many of us lose the plot , after planning so much , writing down expenses while a road side broker with no formal education suddenly appears in front of you whom you have know a few years back as a house broker in a mercedes . It is not fate . Sometimes it has to do with common sense as well . People talk of mutual funds , shares etc but all their life they have just managed to buy a house and live off comfortably with no real asset or liquidity .
Lastly , never count wife money as your own . You then end up being a listener with a lot of patience .