America Is $1 TRILLION In Car Debt!!!!!!! - Dave Ramsey Rant

[@15cadule]

I just paid off my car loan TODAY, MARCH 27, 2017 because of Dave Ramsey!!!

[@TZP23]

Congratulations Im Trying to Get Like YOu. Cant Wait Till I get there.

[@Unique-pw9tt]

Congrats.

[@benb7727]

Iva Vanner Good job!

[@sleepycobra9152]

Iva Vanner Dave Ramsey biggest money saver ever🙂🙂

[@kstevens0915]

That's awesome!!

[@AnthonyStromDesign]

I dont dare finance a car because of the fear of running into Dave Ramsey while driving around!

[@et5895]

Lol

[@AStanton1966]

He's drives a Ford Raptor pick up truck; so just watch out for those ones.

[@kappakumplete]

I just imagined him staring a hole into me at the red light 😆

[@ranaasim7995]

Anthony Strom 😬

[@ranaasim7995]

😬

[@EROBLOX2014]

I own a 2005 honda accord, no debt, $50k emergency savings, $110k in my CD account, $300k in my 401k. and making $100k per year!!! LIVE BELOW YOUR MEANS!!!!!

[@icarrysig]

Need to start putting that 160k cash in roth ira in an agressive fund. now you have TWO retirement fund, except one is completely tax free; while having all that cash is essentially losing 2.75% a year to inflation

[@ZCAR355]

David Vu Yes! Exactly!

[@tompain2751]

@@icarrysig They're fine no matter what!They don't have to risk their liquidity.

[@Bey11ktb]

You are my hero! How old are you? You’ve done a great job of being disciplined.

[@kevinkidneyy]

Your in good shape go buy a newer car if you want . Live it up

[@timothyheyne]

When I fill up the gas tank and replace the tires, the value of my car doubles! Thanks Dave! It is totally worth it!

[@benb7727]

Timothy Heyne That's funny right there.

[@Michael-ke8on]

Lol, this is a good post.

[@drewpierpont3361]

Shoot, I put fresh air in my tires and the value doubles. It has to be from a place that offers free air though, otherwise I'm paying more than the value of the car.

[@JCA51698]

Laughed out loud. That was classic.

[@LLL-us9lw]

LOL

[@andrewpalacios1363]

2009 Toyota Camry here with 214K miles on it. Still driving strong, and NO CAR PAYMENT 🤗

[@davidbrown2625]

Awesome

[@youspic]

let them buy the hot cars, so that i can buy them used 3 years later :-)

[@drewpierpont3361]

I dunno, those cars are usually driven like they're stolen. I think 5 years is a better deal.

[@Elena-er7zp]

I'm waiting until Lexus NX is 5 or 6 years old then it'll be mine!!!

[@farmershane]

That's what I am saying! I just paid $15,000 cash for a 2014 F150 4x4. My dream truck! I can't believe people finance these for $40,000.

[@STEALTH1USA]

@@farmershane dude same, I almost made a huge mistake and was close to financing a 2018 f150 xlt fx4, dream truck as well. After finding Dave I opted out for following his plan and saving money for the truck instead. 👍🏻

[@nightfly1985]

Best is between 7 years and 10 years old.

[@coldfire39]

I have a 15 year old car with 140k miles. I am debt free and make 70-80k/year. I am itching to buy a 24k car, but I would have to take outa loan. I keep coming back to Dave to set me straight again.

[@ProfessorFickle]

Same :)😁 2001 TOYOTA corolla 198k miles 1969 Cadillac deville 100k miles money in the bank& Roth IRS. 'Want' A Tesla .....(dont need)

[@MiguelRPD]

OWNED 2003 Toyota Camry with 170k. Spent $500 in repairs in the 4 years of ownership. I love this car !

[@evanserickson]

Which car? Have you considered buying a 2015 model instead? Or is it like a 2015 BMW that was 50k new and now is 24k? Never take on debt for a car or for anything except maybe a house. I would say treat yourself to a nice luxury car once you hit 100k net worth, and then treat yourself every time your wealth goes up by 100k or more. It will be a good motivator to keep grinding. I find it easier to live modestly and then travel the world once a year, while saving a lot; then it would be to live paycheck to paycheck and try to fill the daily "void" that people claim to feel with useless low level spending.

[@ianm8218]

2000 Honda CR-V here with 140k miles still runs great

[@rathelmmc3194]

It’s been 2 years. You ever buy a new car?

[@CHill-rw8nc]

I drive a 1998 Ford Taurus. It's nice not having payments.

[@shaleknight6224]

If you think about it you're STILL making payments on THAT car etc. w/ the costs of repairs gas, license etc SO you're STILL THROWING MONEY INTO THEM as a payment

[@crowtservo]

2008 Hyundai Accent here. I pay next to nothing for it ($275 a year in insurance and registration) and the gas mileage is great.

[@drewpierpont3361]

shaleknight 62 Do those new cars not take gas and oil? Are their tires indestructible? Does the government not make you register and test emissions on vehicles built after 2010?

[@NSGLiv]

shaleknight 62 not really dude, it’s not the same license is like once every five years and he may only make serious repairs once a year or less and gas is gas

[@Elena-er7zp]

Drew Pierpont I'm sure he's well aware. I drive an older Toyota. Tires, occassional repair on a worn out part, synthetic high mile oil changes all come out to about $100/month for me. MUCH less than the typical car payment of $400-500. I'm not counting anything like gas or insurance or state inspection. You pay all of that for a new car too. Nevermind the fact that insurance is typically cheaper on an older vehicle. I get 28 miles to the gallon.

[@daladyj707]

That's crazy! $500 a month on average car note. Never owned a car, but I will pay cash for my first one when I get it saved up!

[@walkbyfaithandbudget5718]

thats the way to go

[@outdoorsnevada4138]

daladyj707 insane. but lots of people do it. I always kept mine under $200 a month. people just go overboard on it. I have quite a few friends who pay more for their car than I do renting my own 2 bedroom apartment. They live with their parents though so have $ to be dumb.

[@euenfheiejrj]

I thought I was the only one. I'm proud to have never owned a car in my 31 years. Saves so much money it's great

[@user-ru2yk3wq5z]

Good

[@Jayllemz]

No car payment is much much nicer than a brand new car !

[@BMWAddictE90]

Frogboyattacks yes it is. Think you're the idiot here

[@kinomex]

I'm 26 & debt free. Working, renting, College graduate, 2014 Honda Civic, 20k in the bank, thousands of dollars spent on hobbies. Smart living is good living!

[@ivandunn1334]

kinomex that's great man. 20k in the bank would put a smile on anyone's face.

[@stormteam3004]

Prob get about $50 interest per year from bank. U need to invest at least half that money. Bank is robbing u. But good job. Invest and u will be a millionaire

[@mjohnson1741]

What would be beneficial would be elaborating more on how you did that?

[@davidrabbit8868]

Better to own a home

[@markg999]

Haven't had car payment in 3 or so years gotta say it is nice. Never again next car is cash.

[@jellygurl27]

I can always count on Dave to make me realize I am weird and proud. I get made fun of a few times by people for being 27 and never buying a car, I don't see the need just yet.

[@motopolak]

You are certainly weird but it's a good life to live :) You're lucky to not need a car.... life is simpler with less stuff! Although I have one I am certainly proud to be weird. I see so many people around me with Benzes and Beamers, while I happily cruise in my 8 year old Sonata. Keep putting away a small amount every month, and soon enough you'll roll up on your haters in an Ariel Atom 3S. The power of saving + living below your means is an incredible thing!

[@Skweepa]

Good for you. They are expensive! You can spend 1000 a year on taxis and Lyft rides and still pay way less in a year than owning a car.

[@GalbertKun]

I'm at work, but I am a simple man.. I stop working when a Dave Ramsey video is posted.

[@AliceDepaul]

Galbert-Kun me too!

[@AliceDepaul]

Great clip, thanks!

[@londonspade5896]

Must have an easy job

[@GalbertKun]

whoooosh

[@londonspade5896]

That's a good thing ^

[@TypeRk8]

I took a 1 year car loan with $283 payments. I'm not going to wait 1 year to pay it off though. I'll have it paid off by may. Thanks Dave Ramsey👍🏻

[@GamerNRetro]

As of today my car is now paid off.

[@benb7727]

GamerNRetro good job!

[@thelionessreigns]

Good for you! 👍

[@andre18762]

I'm debt free and have over 32k invested in stocks. Wanna know what car I drive? 1999 Volkswagen Passat which I bought 4 years ago for $3,300. Car is just a transport which takes you from place A to place B. Moreover, its a liability which will depreciate in price and take money from your pocket during that price depreciation process; thus, why in the world would you wanna spend tons of money on your car? That's just stupid.

[@erirosesan]

Andre Totally agree! I own a 95 Volkswagen Passat GLX VR6 my parents gave me after my hs graduation ❤ best gift ever and no car payments!

[@andre18762]

Eri good for you 👍

[@mickyunit]

It's so crazy when people I work with say they can't afford to invest in the 401k to the match (5%). Meanwhile, trading in cars for new cars cuz they like the new car smell. And always going on vacations. Yet, can't go to a 'payday' lunch because they don't have the money. Stupid.

[@mikenelson8377]

mickyunit right???

[@dixiegirl999]

Tell them they have the new car smell scent at the auto stores that hangs on the mirror.

[@slamdunkslamdunk9888]

mickyunit new car smell is toxic - all the new materials- carpet, foam, rubber, plastic, adhesives etc generate toxic off gases that are known carcinogens. So buying pre-owned is not only good for financial health but your own physical health.

[@frankrizzo4778]

@@slamdunkslamdunk9888 so true😧

[@jordanneedscoffee]

@ I mean, no, the bank isn't the government. The bank is a business and the bank can go bankrupt just like any business. Any loan not paid back to them is their loss, literally from an economic standpoint it's a loss they have to take. Too many of which will bankrupt them.

[@ilikeshroomgals]

Anytime i think about buying a car i just watch this video to get my head out of the clouds!

[@RealLifeMoney]

That really is disturbing, and people are wondering why they are broke! That means a family with 2 cars is paying $1000 a month! And they question where they could save a few dollars? Right There!

[@patrick12657nck]

i have two paid off cars but every now and then i get a itch to run to the dealership to trade in both of my cars to upgrade to a newer car so what i do now is before i run to the dealership i sit down and watch Dave Ramsey speech about car payment the i loose that itch.

[@ProfessorFickle]

80% of millionaires drive used cars.

[@ProfessorFickle]

Im going to take a guess Millionaires (just like the Poor) Pay for cars Cash.

[@ProfessorFickle]

eedd sdsd ... my post was made 2 years ago 🤪 ... today no down payment , no credit check.... easy credit for all...ha ha ha ... yeah house flipping is now a thing in 2019.

[@ryanholm3480]

@eedd sdsd Both cars that I currently own I paid cash for when I was poor making less than 15k per year as a single guy of course I fix them myself and I only paid 1000 for one car and 2200 for my truck.

[@davidrabbit8868]

@eedd sdsd I got a 2020 Corolla and will pay it all off in 2 months. So guess I'm an exception

[@jacobrubydev]

@Sergio Aguirre I'd just like to take a moment to appreciate this man's post... pure wisdom.

[@ErkFX]

Man, I got pretty lucky. Earlier this year my car broke down and my Dad tried talking me into leasing a newer car which would've cost me probably $350 a month which would leave me with barely any money after bills. I'm glad I felt uncomfortable with that decision and got my car repaired and kept it, because I would be so tight on money it would be just absolutely stupid. Thank God for finding Dave Ramsey since then! I'm currently building up my emergency fund and the only money I owe for anything is about $500 in credit cards which would take such a long time to pay off if I was leasing a vehicle. I'm glad I didn't listen to my Dad. I bought him The Total Money Makeover for Christmas haha, I hope he reads it! :p

[@JCA51698]

Props to you for listening to your gut feeling and doing what was right for yourself. It’s sad that our own parents don’t always have a clue about responsibility with money.

[@michaelfleming40]

I pray that your father reads that book the Total Money Makeover. It will bless your whole family providing he reads it.

[@unisonosc1617]

outstanding story! hope your dad learns something.

[@mr.whiskey3534]

Still driving my 2003 Honda Element with 160K miles. Incredibly reliable. Best vehicle I've ever known. Scraped up every extra dollar within budget, and paid it off within 2 years of puchase. Never going to finance a vehicle again. Only cash car purchases in the future. Folks, set yourself up for success by living within your means. You can do it. We are Americans, not Americants.

[@ivanb1748]

I like when people buy new cars I will have more choice for 10 years

[@fpl_bailey]

LERS H 😂😂😂

[@xmochix604]

Truth! haha

[@kimberlynhughes3658]

LERS H LOL

[@mikenelson8377]

LERS H truth!

[@carlosbam7895]

I think keeping broke people buying cars makes me happy it keeps them stupid

[@infiltrator7777]

I almost bought a new car last month. Saw Dave's video and car payments are stupid! Still have my 2001.

[@hopesands2381]

Videos like this motivate me to pay off my car loan ASAP, getting there...

[@chappieshappy]

WOW! My car is 14 years old but I don't owe anything on it. When I bought it I paid $4,000.00 cash in 2007 It's a 2003 Chevy. I have a sinking fund for the next car I'll buy.

[@emmanuelsilvera8032]

I bought my 06 Honda from Craigslist in 2013, paid in cash. Havent had any serious issues with it at all aside from routine maintenance. No monthly car payments or anything like that. All my friends drive newer BMWs, Audi, and Mitsubishi Lancers and they have pretty big car notes to go with it. I dont think I'll ever by a new car.

[@EricSmyth2Christ]

China Military: 150 billion America Military: 688 billion American drives cars: 1.1 trillion

[@peteplayz-norskgaming5723]

JoeAceJR no

[@DadsDomain]

We just paid off our Truck four years early! We now own both of our vehicles. This video maybe two years old but the spirit of it carries on!

[@genet8069]

It's all about priorities. Do I want to be cheap now and have a million in 30 years or do I have nice shiny things now? Im guessing most people choose to live it up.

[@KristeneSchmitt]

And I don't belong to that statistic!!!!! Whoo hoo!!!!

[@anselmoreal]

Proud owner of a town and country 2007, no car payments feels better than a brand new car, maybe I'm just weird 😉

[@drewpierpont3361]

Be weird. Don't be normal. Normal sucks! --Dave

[@prettysteeve47]

Mister Rodriguez: You are quite normal in Dave Ramsey's world! You rock dude!

[@kevinclass2010]

Town and country is not a normal mini ☺

[@naegleriafowleri1715]

My grandmas has that car 😂

[@mikenelson8377]

I paid off my 2014 Toyota in 13.5 months after discovering DR. It wasn't supposed to be paid off for 4 more years. Needless to say my bank was blown away. Now my family and friends are questioning their financial decisions lol. I will never borrow money again. I lived like no one else so I can live like no one else.

[@MiguelRPD]

I went to a gated community to see a friend, and every house had mostly reliable cars like Toyotas, Lexus and Hondas, and not expensive luxury cars. I thought "why? You have the money why not enjoy a nice ride" And Dave Ramsey helped me see how stupid I was to think that. It's better off having a reliable machine that won't fail on you compared to have a monthly maintenance​ headache with other rides.

[@S2kTi]

Hell yeah, debt is the worst. 25 here with 0 debt and can save about 2500 a month. It's very liberating. I'm far from a minimalist too. I could probably save 3k a month if I really tried. But you gotta live a little

[@sleepisnotnecessary2161]

I'm thankful my dad has always warned me of car payments before I was old enough to make that stupid decision. I don't need to 'be the wheel' like everyone else. I like to say that I'd drive a hearse as long as it has a/c

[@HereIsWisdom1318]

We do the debt snow-ball. We started in April of 2018, but the rest of 2018 we spent a lot of money. We still paid $2,000 in debt. My wife just looked at our expenditures since September, which was high because the holidays were coming up, and she found that we spent $800 a month unnecessarily. So we've doubled down on our debt snowball. For the first in forever, we didn't eat at a restaurant for A WHOLE WEEK! I am excited to see how much we'll have saved to pay down debt in 2 months, going at the same rate! January 29, 2019.

[@HereIsWisdom1318]

As of now, we’ve paid down 10,000. June 7, 2019

[@HKProductions9]

Thank mercy I found Dave he basically stopped me from making the stupidest mistake. I started watching his video recently and realized I messed up big time earlier in life and now I have to dig myself out of that mess. Currently I'm on his baby step 2 and plan to complete it by the end of this year if I follow the plan. I never want to be in debt ever again it sucks so much. I never want to go back to broke and stupid

[@bobmarker6812]

Love the car rants! Cars depreciate faster than they rust.

[@williamsmith8638]

I think when you have gotten to the point in life with no car payment you have to feel some level of achievement. And no desire to go back to making car payments.

[@seamusbrown3171]

And then your engine blocks cracks in half and seizes up on the highway. Nothing lasts forever.

[@rubysadie27]

@@seamusbrown3171 Right, because owing $25k on a car that seizes up on the highway is way better...

[@fpl_bailey]

73- 84 months 😮😮😮 over 6 years of burden and I bet after the 3rd year in the financing they feel like moving up again 😂😂

[@Mrjoecreeper]

koolyo2foots Imagine buying a car at the beginning of a model generation and finally pay it off by the start of a next model generation. Madness.

[@xxtoptankxx6873]

For real, the only way to get the monthly lower is to stretch the loan contract. That’s all people care about. Not the OTD price.

[@MilenaSimpson]

This is just crazy!!! Working on paying the rest of mine as quick as possible.

[@benb7727]

Milena Simpson You can do it. Keep going!

[@JacksonD489]

Seen a commercial last night for a Cadillac Escalade and the monthly payment was $889 a month! Really?! No way, Cadillac, think I will buy a new house instead! Lol

[@AStanton1966]

And how long was the term of that loan, 72 months?

[@arienfox]

A paid off Car is a LOVELY THING!! So glad I paid mine off!!

[@nisey088]

Thanks Dave. I have two cars and both are paid in full with the titles in hand. No thank you car payments.

[@carlosgarcia-jz3dq]

I have NO car payments, NONE for years and I have a car for me and my wife, over twenty years, this has made a huge difference, and I see teenagers paying $600 a month. I tell them and they NEVER listen, I drive a scratched up, beat up for truck for 20 years, It got the job done perfectly, including taking a date to dinner, going to work, trips to the beach.

[@cdogvlog5557]

Yesterday I had to catch 2 busses to get home from where I was. I really really would love a car, but just have to make do without one for a while before bigger priorities are taken care of.

[@harrisonwintergreen1147]

My relatives: I can't afford to save for retirement Me: you could if not for that $400 month payment on a depreciating asset

[@DBL6Domino]

This is how the housing market collapsed in 2008.

[@dontundra2259]

Ive earned the tongue lashing from uncle Dave. Thanks to this guy I should be out of debt in a couple more months however!

[@silverspout4791]

Bought a 1966 Ford GTA convertible new for $3200 .The loan was $125 for 36 months. I still own it and watching the value go up every year.

[@darrenkrock736]

I don't own a car anymore and am glad. No car payment. No insurance. No gasoline. No maintenance fees. I don't miss having a car. It has saved me approximately $500/month. And soon I am moving to Chicago where I won't need one.

[@euenfheiejrj]

No car either and I live in Chicago. Welcome :)

[@topofthegreen]

Im able to ride my bike to work and save a ton of money, and yes i work at an amazon warehouse in Nashville Tennessee , all the money i spend on bike clothing and other bike stuff is still cheaper than owing a car. Live like no one else, so later you can live like no one else! Im weird as hell!

[@HumanStateOfEmergency]

Almost took out a 30k loan a few days ago and I'm glad I walked out and drove off in my 10 year old car. From the moment papers started getting signed I knew it was a mistake. I sleep a lot better at night knowing I made the right decision.

[@NurseNessaV]

I love Dave because he always reminds me I've been doing things the right way

[@rhoadestraveled]

High value cars are stupid: high financing, higher insurance, and higher taxes. Keep your money don't throw it away.

[@rickvangils100]

'Get a mirror and look at what stupid looks like'. I'm dead XD

[@Musicienne-DAB1995]

So true!

[@akshay3143]

"I will always have a job" at the end, classic

[@tiffanyjohnson135]

I’m 27 and I’m still driving my same car from high school. I have student loans to pay back and refuse to get a new car until that is paid off. Thank god I don’t have a car note.

[@fernandoh3008]

20,000 in car debt. Embarrassing but I'll get it done by the end of this year.

[@edm9760]

At least you have something for the 20k..I spent 18k on a useless college degree that i will hopefully have paid off by august

[@lefthanded5473]

Herrera 9mm is the car paid off yet.

[@TuyetNguyen-pp2ew]

Thanks Dave, we were stupid until we met you.

[@debrawilliams7983]

People in Car Loan Debt just help keep the Repo Companies in business.

[@peterhuber1702]

Have never borrowed money for a car - never will. Started out not being able to qualify for a loan due to my low income. Now I can afford to get a loan but don't see the sense in it. Having an older used car that I can pay for in cash, fix and maintain myself is what I prefer. Freedom from debt is what I prefer. Being self sufficient is what a prefer. One of the few things being in poverty once taught me.

[@kevinbrewer6985]

I drive a 2007 Ford Ranger worth 2k, I have 1/2 million retirement savings, house paid for too! Born 1963. God bless Kevin

[@alexandreakeller980]

I'm a new listener but I am that stupid he is talking about but I'm getting my life right 👌🏻 thank you Dave! Oh and I caught up with a couple friends and they both have more debt then me just in student loans...

[@granitemoss1451]

I have financed used cars, I have paid cash outright for almost-new cars. Yes, it's work and unpleasant to drive 'lesser' cars when you're working up to buying that 'good' car the first time around, but it's sooo worth it. I will never go back! Pay cash and be done, folks. Then routinely put money away for your next vehicle, even if it's years away.

[@redfoxbudgeting4230]

Yes!!!!! Preach Dave!!!

[@appleiphone69]

I love that people have high car payments, keeps the riff-raff out of my expensive neighborhood 825k-1.2mil houses. What is amazing is to see in the lower priced neighborhoods all of the 60-85k SUVs, granted many are probably leased.

[@TheNORegretShow]

I played this everyday to talk me out of car payments. During this Coronavirus pandemic i am so glad i bought a 3800 Hyundai 3 years ago instead of a fleased BMW M3 lol. And yes the car is still running hahaha 80k miles later. Thank you Dave.

[@johnnyboyyyyy]

had a Toyota Tacoma note. After 5 months, I got tired of basically paying another truck payment at the gas pump, plus insurance. Sold that truck in two days, bought a used 04 Honda Civic with 200,000 miles, and it drives like a charm. Couldn't stand that debt anymore. Now, in one month, I spend in gas what I spent in one week with that truck! No CC debt, and now paying off my smallest loan in the debt snowball after having saved the $1,000 emergency fund. I've been such a compulsive spender, but now controlling that with self-talk and rational thinking when I feel the "need" for a new car.

[@digitalbrand5510]

Clean your car or truck up, touch up the paint, change the fluids regularly and it will feel like a new vehicle!

[@marybetheby5184]

Digital Brand A good pro detailing helps too!

[@jayj4439]

Yet here we are after a global pandemic and people loosing their jobs, yet these same people still don't see anything wrong with having/getting a 10k car on a 25k salary...You guys are gonna keep Dave's radio show open. Jesus help us!

[@KennTollens]

I have to pay car insurance and get annoyed because I feel like I'm renting my car.

[@mrwilliams1]

I agree with Dave. However I do lease my cars. My average payment is about $260. The reason why I lease is because I drive approximately 20, 000 miles/year due to my second job. I think payments are up to the individual. I have no kids not married but I'm able to invest approximately $30, 000/year. I just love the comfort of not dealing with a lot of car maintenance.

[@OpenBlank4723]

Now I Know the difference between the Rich and The Poor also why David Lawrence Ramsey III is Wealthy , Rich and High Educated

[@maryfields1382]

Driving an older car also means you pay less property tax and insurance.

[@urbana11229]

recent "bread lines" featured people driving 100K Hummers. yet they say they "need money to put food on the table" .

[@russellseilhamer4552]

The average car payment is $506. That’s insane. My car payment is 211 a month for 4 years. I have less than 3 years to pay on it and it only has 43k miles on it. My game plan is get a good car, pay on it for 4 years and keep it for 10 to 15 years. A car IS an absolute necessity. Buses don’t go everywhere and you can’t go your whole life relying on other ppl. People buy too much vehicle they can’t afford, people also don’t factor in maintenance into their budget. I have a 2011 Hyundai Elantra and i couldn’t live without a reliable vehicle

[@dougmoore5252]

House is paid for, cars are also, Emergency fund solid, close to 1,000000 in retirement funds. Zero loans. Ages 65 & 61.

[@xmochix604]

I have a paid off car. We went car shopping just to look and be nosey and couldn't believe that the average car was about 30,000.00. USED! We looked at Toyotas, Hondas, Lexus, and Audis. Insane. Glad we don't have car payments. Cars have no value. Where I live, people drive BMW and Porsche SUVs and Tesla. I love looking at them, but payments? NO thanks!

[@Stuke51]

I drive a 2005 Toyota corolla with 190,000 miles on it. My family bought it brand new over a decade ago. My older sibling used it during college and then I was fortunate enough to be able to use it through college and still use it to this day with no issues. I refuse to purchase a vehicle until this one finally kicks rocks as I am taking full advantage of contributing the max amount of money possible into my IRA. No point in flexing with a car that's well beyond your means to impress strangers when you can flex with those extra 0's you'll have in your savings.

[@marybetheby5184]

Stuke Many more miles to come with proper maintanence...which is waay cheaper than a new car!👍

[@calebphillips91]

I make more money than most people I hang with and by far drive the cheapest (paid off) car. It feels good!

[@Simon-ir6mq]

5:25 thats not really how averages work. It would be interesting what the median is though

[@computerscientist5953]

I've been working on my car payments for 2 years and 1 month... got it down to ~$8,600 (from $24k). Man, it's hard. But at least I'm getting there. No more car payments in my life

[@mackjsf23]

Are new cars the death of the middle class?

[@milfordcivic6755]

Nope, stupidity

[@darlenepaul2934]

It's the death of their wealth and retirement

[@JessicaO490Z]

If it's 500$ payments I bet the cars they are picking go down in value at least 20k in the first 3 years, then there is the interest too. Seems like it's the stupid tax of the middle class yeah.

[@carrietoo]

"...they make more money lending you money than they do selling you cars." Wake up call!! $500 for 63-84 months sounds unreal to me for a car, and not because I've never had a car note. Smh...

[@michelleadams5609]

Just reached $1.8 trillion. Extraordinary.

[@funyuns77]

Dave! I just bought my truck cash!! Thank you so much for teaching me how to be a smart with my money👍🏿👍🏿👍🏿👍🏿

[@LyonsArcade]

I'm from West Virginia originally, and I swear to God back there, the people have more money in their car than they do in their house or trailer. They spend more money on their car note than their entire house is worth, all their debt is sitting out in the driveway. House costs 20k, Car costs 30k.

[@edm9760]

Never in my life have I ever had a car payment..but I have always driven pieces of junk. Currently in a 2002 F 150 that is rusted out and has 215,000 miles. There are literally cargo straps holding up the gas tank. I really need to just borrow money to buy a car. It's worth it i think, especially if you buy something that holds value well like a diesel truck.

[@arienfox]

Exactly!!

[@lincmerc1581]

Completely debt free. No mortgage, no car payments, no credit card debt. I laugh at those who laugh at me while I'm driving my old Taurus, Town Car, Honda and Mazda.

[@renee7514]

Buy assets not liability. Buy a house not a new car.

[@brentcrocker8035]

20 Trillion? 60 Trillion including unfunded liabilities?

[@tonyahenry4167]

I realized and I feel stupid I'm glad I know better now never again will I have a car payment

[@AdamB5000]

When I was 19 years old a co-worker told me, "Just expect to always have a car payment." I'm happy to say that I haven't had a car payment for about 12 years of my 18 years of adulthood. And I will never have one again. I'm rocking a 2003 Honda Element and the wife a 2013 Hyundai Elantra. Reliable rides thus far. 👍

[@GigAHerZ64]

Just as a note: "Average" doesn't mean "half of the people". It's arithmetical average. A "median average" would be the "middle person". Love your show, Dave!

[@LittleHatori]

I needed this...

[@unisonosc1617]

Wonder what the amount is now in 2022 after the insane car pricing bubble....