Work hard and save. Pay cash. Accept the fact that your car will depreciate. Live your life. Done.
@TheopolisQSmith4 ай бұрын
Or if you do have to get a loan for a needed car then spend the least you can for a good vehicle and try to keep the payment time as short as can be. Folks don’t all need super expensive fancy cars. Even if your “friends “ laugh at you your wallet will thank you.
@GrandPrix464 ай бұрын
There's a lot of new vehicles today that cost more than the first home I purchased in 2007. Dang Cybertruck is almost what I owe on my current mortgage. Crazy stuff.
@gtech664 ай бұрын
We went to buy a used car and entered the VIN into Carmax like were going to sell it. Carmax offer was thousands less than the dealership wanted. I told the dealer this is what I will pay. They were pissed off and asked us to leave. Best day ever!!!
@googlegmail98884 ай бұрын
Y would they sell it for what a car flipper would buy it for
@TechJedi294 ай бұрын
Almost all of the dealerships in my area are "Up Front, No negotiating dealerships" Id like to purchase from there but, I just can't see myself giving them that much profit. I get businesses need to make a profit but if they have not noticed 2024 isn't exactly shaking up to be the best sales year. These interest rates and MSRP's jumps have prices people out of even trying to get a new car. I saved up 30K for a new Tacoma and then COVID happened and now they are over 41,000$. So what is the point? I keep saving and they keep going up faster then I can save. So I just saved my money and continue driving my 30 year old vehicle, until these manufactures realize they can't squeeze the consumer anymore.
@WordAboveAll4 ай бұрын
What does it matter if a new car decreases in value if you never plan to sell it? Looking to buy my first new car (Toyota) and paying cash (not telling the dealer until the end). Plan on keeping it until it runs no more, and being a Toyota Rav 4, that will be a long time.
@BrianNC814 ай бұрын
Yeah current maket value doesn't really matter when you keep the vehicle "forever". The least expensive way to own a car is to follow your plan. If you drove average miles, no reason you can't keep that rav4 for 25 years. Change the oil every 5000 miles not every 10000 like toyota recommends. If you go 10k, it is not going to last over 200k miles.
@WordAboveAll4 ай бұрын
👍
@nameblocked4 ай бұрын
They're all overpriced. The prices need to come down 30-60%
@BrianNC814 ай бұрын
not going to happen unless M2 comes down 30-60% and the value of the dollar skyrockets (M2 is the money supply)
@medadme14 ай бұрын
Thank you so much! As a home buying finance guy I see so many people with car payments they can't afford.
@Raj.Singh.4 ай бұрын
It would be great to have a guide when buying a used car, like PPIs, how to transfer a title, and that sorta stuff
@evalina980004 ай бұрын
Preaching to da choir fo those of us who pay cash 😜 been der done dat, 💵🚶🏽♀️🚴🏽♀️ 🚌 beater 🚗
@TheopolisQSmith4 ай бұрын
I always tell sales persons that they are welcome to submit their finance information to me and I will consider it. Having a credit score of 830-850 will help. They then know they will have to make a good offer to complete.
@mikearbon61964 ай бұрын
So you tell the dealer your plan is to finance when in reality that is never your plan. Sounds to me like that is lying to save a buck
@medadme14 ай бұрын
The dealers lie all they long.
@Betamax844 ай бұрын
Uhhh….NEVER cosign for someone that isn’t your son or daughter.
@BrianNC814 ай бұрын
never cosign period.
@Hbaqer45453 ай бұрын
@@BrianNC81it’s different when you have kids if you love them you would help them period
@armobyzantine58814 ай бұрын
What do you mean by contractual templates? , thanks again
@medadme14 ай бұрын
Will the dealer give you a lover value on a trade in if you wait till the end to tell them?
@604raider54 ай бұрын
I wrote off my previous car last December, bought a new one January of this year. I don't feel so bad at 4.99% anymore, although it still stings. I borrowed a little over 30k and owe about 14.5k today. Looking at the amortization breakdown of interest on payments is pretty effective motivation. I can't imagine financing for a term over 5 years, the interest to service the loan and car value over the term could be rough. Likely better off getting a used cheaper temporary option at that point. My previous car was a 2007 I paid 15k for cash a decade ago. Not having a car payment during that period made a substantial impact for me.
@gsmurph084 ай бұрын
Wow. Only owing $14.5k from a $30k loan is really impressive. Must be paying a whole lot extra to kill that loan asap. Mush respect!!
@604raider54 ай бұрын
@@gsmurph08 Thanks, I really appreciate that. I have been living as cheaply as I can to chunk it down. My family wasn't poor growing up, but we weren't well off. It sucked at the time, but was helpful in hindsight. A lot of my friends who grew up well off, live paycheck to paycheck. I'm terrified of credit. My mortgage started in 2015 and I have 4 months left. I approached it the same way. I'm not frugal in all areas, but the general approach has been helpful for me.
@gsmurph084 ай бұрын
@@604raider5 yes I can understand that. You wanna do better than what you did growing up for sure. What car did you end up getting and are you truly satisfied in your purchase?
@604raider54 ай бұрын
@@gsmurph08 I got a 2023 BRZ, the 2024's weren't yet available. I looked at used options first, but based on the difference in rates and inflated used car market at the time, I opted to go new. I never expected to buy a new car. I am really happy with this one though. I had a lightly modified 2007 Mazdaspeed 3 previously,. The BRZ isn't as quick but is much more fun overall.
@gsmurph084 ай бұрын
@@604raider5 wow. That’s awesome. Sounds like you got a great deal then and made a great choice. And Subaru is a top notch brand and will last!!
@Dggb23454 ай бұрын
Best car advice ever. ER Dr Doug McGuff,” you want to buy the biggest car you can afford.” Dr McGuff also said, “ when I see a Smart car driver I think dumbass!” Word.
@dystopia-usa4 ай бұрын
Some people just aren't a fan of driving larger vehicles, so they like the subcompact and/or subcompact class. I'm one of those people, but anything smaller than my 2015 Yaris SE hatch 5-MT (such as the Smart Car, for example) isn't for me either.
@Gest-wg2yb4 ай бұрын
Thats funny, when i see someone drive a smart car they paid for in cash and have to spend almost nothing on fuel I think, "what a practical person", when I see someone driving a $60k truck I think, "I wonder if they are like most of the truck owners I know, in too much debt, can barely make the payments, and never even haul or tow anything."
@Dggb23454 ай бұрын
@@Gest-wg2yb it’s reference to the Smart Car owners he tries to repair or save their smart lives. He’s also against home deliveries of babies that end up in the ER. Oh and let’s not forget donor cycles. Very inexpensive. Safe. Just like small cars. Not so much. You can ignore reality but at your own peril. Mother Nature doesn’t care about posturing. As always if everyone was driving around in single seater cars I’d be driving one but in a world where more often than not it’s SUV’s and Raptors, little cars are death traps but you be you. Stay safe and stay out of the ER.
@Gest-wg2yb4 ай бұрын
@@Dggb2345 and yet that's not what is said in the quote, just big vehicle smart, small vehicle dumb Let's not forget you can be killed in an SUV if an idiot is driving a truck Not sure I can qualify someone as stupid because an idiot driving something they shouldn't be killed you That's like saying you shouldn't have been in a house when an idiot crashed his home made airplane into it