Accountant Reveals How Much You Should Spend On A Car (Backed By Data)

[@rolandosouffrain7957]

I had my last car for over 11 years. The car i have now i bought used for $8k. I paid it off and haven't had a car payment for over 3 years. My car has dents everywhere but I luv not having a car payment. 💪🏾💪🏾💪🏾💪🏾💪🏾💪🏾💪🏾

[@AliceCeeCPA]

Best feeling!

[@SergioMartinez-i4n]

I am at the beginning of my "investment journey", planning to put $85,000 into dividend stocks so that I will be making up to 30% per year in dividend returns. Any advice?

[@AngelaPhillips-v9x]

Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.

[@sluggingbread]

Thank you for the timestamps and video. Useful info.

[@AliceCeeCPA]

Thanks for watching!

[@SFBear]

i drove my elantra for almost 13 years, been looking for a new car since the maintenance costs have been getting high this past year. the issue i was dealing with is that i was looking at newer used cars but the prices on those used cars were not that much different from new cars... like literally a difference of $4k buying a new one vs a used one that was 3-4 years older. i ended up buying a new car under msrp and i also got a 2.9% interest rate. i still contribute to my 401k and plan to max out my roth as i have for the past few years. i keep my expenses low and other than my new car loan, i have no other debt. i make $62k a year. i dont regret the purchase, but i also don't like having a loan lol so i will definitely be trying to pay it off faster.

[@AliceCeeCPA]

Thanks for sharing!

[@PeterVanDeMotter]

In some select cities, it is not necessary to drive everywhere. But yes, in most of the US, there is no other choice. Also, 72 cents per mile? The IRS only allows a 67 cent per mile deduction!

[@nursevinyl6185]

Learned the hard way, used to buy car every 3 years, i realized how much money i wasted, now all car i owned is payed off, no more brand new car for me. Money goes to retirement. Cars are not worth buying. Just my opinion.

[@AliceCeeCPA]

Thanks for sharing, hope you enjoyed!

[@michaelb.8953]

New car every three years!!!! They are barely broken in when you're trading it in for another and saving someone else a ton of money. I buy brand new, but I keep it for at the very least a decade and I take good care of it as I know exactly how it was maintained. My current car is a 2016 and still drives like the day I drove it off the lot with 4 miles on the odometer. Everybody has their own way of doing things.

[@theonereborn9299]

A new car every 3 years? What in the actual fuk! That's insane

[@nursevinyl6185]

Yeah it says there 3 years i wrote it, but i learned from it.

[@danieljayasiri7739]

I go with my rule of spend no more than 15% of your income on any and all vehicle related expenses. It doesn't matter what you drive or how you look driving it, as long as you use only 15% of your after tax income on all your vehicle related costs....in my experience this has allowed me to drive in something that I like to drive and feel good about it at the same time not be financially burdened by my vehicle.

[@AliceCeeCPA]

Thanks for the comment!

[@robertbalian9144]

Looking back on my life one of the best decisions i made was always spending as little money on cars as possible. Buying used and running them into the ground. People do not realize the opportunity costs that cars will cost you over a lifetime.

[@AliceCeeCPA]

Thanks for the comment!

[@MrRikkiRocket]

Holy Sh!t Alice you look very nice in this one 😮. Great advice too. I’ll do whatever you say in regarding car expenses- no problem. With ❤ Rikki.

[@AliceCeeCPA]

Aw thank you :) Have a great day Rikki

[@fobrichard]

I think you need to tell people to buy used (4-6years old) and try to stay away from payments. The real killer here is interest payments. What people fail to add up is all the interest payments on credit cards, car payments, home loans... and subscriptions...

[@AliceCeeCPA]

yes payments can definitely add up, thanks for the comment!

[@MichaelThP]

I’m curious if there is a method for how much ‘truck’ you can afford for those of us that are DIY’ers and do renovations on our own homes, etc. A lot of situations when buying, transporting, and unloading things like drywall, lumber, etc, a sedan or SUV is not an option.

[@blade643]

Same thing. You should never buy a new truck for construction etc. Buy used, mid 2000’s and have some preventative maintenance done and you’ll be good.

[@AliceCeeCPA]

Maybe this will come in a future video!

[@mocheen4837]

I work from home now and I have a BMW M3 in the garage and I have a Tesla Model 3 Performance that I was commuting with. Now I only drive to the gym or grocery store. My wife drives a Model Y Performance. I would like to add a Porsche 911 S to the garage but cannot justify it as I no longer commute.

[@AliceCeeCPA]

lmao can't tell if this is troll or support, are you a software engineer at Google?

[@anikdas6964]

Your videos are amazing. I really like it. I am a new subscriber to your channel. Can I talk with you Alice?

[@AliceCeeCPA]

thanks for comment!

[@anikdas6964]

@@AliceCeeCPA Can i talk with you?

[@BookofJob3XVII]

US: made in US, buy US made, no matter the cost. 😂😂😂😂

[@AliceCeeCPA]

thanks for the comment!

[@maxdudomite]

Do your research before buying, buy second hand car in cash.

[@Mr_Banker222]

Buying a car in cash comparing it to financing really is no difference. The only problem is people don’t keep their cars once they pay them off.

[@maxdudomite]

@@Mr_Banker222 No difference except for the interest you’re paying if you’re financing instead of paying cash. The option to finance only lure people to spend money a car they can’t actually afford.

[@AliceCeeCPA]

thanks for comment!

[@mnmaddict37532]

If you can't pay for a car in cash, then you can't afford it.

[@AliceCeeCPA]

agreed!

[@christians131]

It’s so convenient taking the bus tbh because you can get some work done or just play on your phone instead of focusing on traffic

[@trainsandlocomotives]

I’ve lost a job opportunity because the bus broke down. I’ve gained more job opportunities because I drive a fuel efficient car and I’m able to reach farther jobs cheaply. Unless you live in New York, you definitely need a vehicle to upgrade your life. The car doesn’t need to be the best, just be reliable and fuel efficient.

[@AliceCeeCPA]

thanks for comment!

[@sokkimly8182]

I stick with 35% rule

[@AliceCeeCPA]

thanks for comment!