Car Buying BUDGET RULE: How much Car can I Afford? (The Homework Guy) Kevin Hunter

[@KevinHunter]

If you want to speak directly to Kevin, you can get a one time 45-minute phone call by clicking here thehomeworkguy.com/product/the-homework-guy-one-time-direct-call/

[@hctim96]

Great information and thanks for your work...

[@ronj9124]

Hey, wait, there was nothing in this video about Smart Cars! LOL BUT SERIOUSLY, this was a great video, and I think a must for any high school student to learn practical personal finance. One item I would add for cash buyers is to figure out in the budget how long it would take to save up the cash for the next car purchase (and account for inflation).

[@KevinHunter]

Glad you enjoyed it! Thanks for your comments!

[@nathaneck1871]

Love working with you guys

[@KevinHunter]

Thanks, Nathan!

[@GreyGhost-r4z]

When we were looking for a car we went to the dealership. We were already approved from our credit union. During the negotiation my wife and I left for another appointment. We dropped by the bank to talk to the loan officer and she told us the dealership will try to get us to sign for a warranty. Our own bank offered a bumper to bumper 7 year warranty for $1500 less than the dealership was trying to charge us and the dealership warranty was only good for the power train. Definitely use your credit union and all of its resources to bargain with the dealer.

[@KevinHunter]

Great comment! Thanks for sharing!

[@Steve_in_NJ]

I know leasing is a whole different animal, but I've been leasing for so long, I haven't owned a car for almost 20 years. Yes, I'm always making a payment, but it's always lower than a car loan and I budget for this. It also helps when looking for a nicer trim level, as you tend to be able to lease nicer vehicles because of their residual value at lease end.Since my next lease is this fall, I will also research auto insurance with my carrier comparing ICE, hybrid and EV models to see how much different the premiums actually are for my area. I may have to pay, let's say, $50/month more for insurance for an EV, but will never pay for gasoline, so it could be a benefit over the long term. Just another spreadsheet line to add into my research and budget. Maybe there's another video topic about looking for the best leasing tips instead of outright buying a vehicle.

[@GreyGhost-r4z]

My wife leased a car for 3 years. She drove it back and forth to work only, totally within the allotted mileage. Turning it back in the dealership they were so anal about tiny rock chip marks that were easily fixable with touch up paint. They tried charged her $1800 extra. From that moment I swore I would never ever lease a car unless if was a company provided car. They can totally gouge you for stuff out of your control.

[@Steve_in_NJ]

@@GreyGhost-r4zNever had any issues with end of lease returns!!! I do keep my vehicles in mint-condition and my mileage is extremely low.

[@The173gispa]

Thanks again

[@Mark-mu4pj]

Thanks great video

[@KevinHunter]

Glad you enjoyed it

[@josephkelleher8820]

I would go 50/3/10.. I figure you should put at least 50% down. I go by the old rule that says that you should never finance a car for longer than 36 months,

[@KevinHunter]

We don't disagree at all!