How CAR PAYMENTS damage your Wealth.

[@gimcrack555]

Never bought a brand new car in my entire life. I'm 60 now, I bought my first used car in cash and will buy my last used car in cash. My 2006 Ford Freestyle after 14 years took a dump. Just bought another used car to replace it in cash. Bought a 2016 Jeep Patriot in cash just a week ago. I hate payments, so I stay away from them. Pay in cash and drive it until the wheels fall off of it. Save me a ton of money. Used cars are that, 90% of the time you're buying someone else's problems. You weight them out, fix them as needed and necessary, and then enjoy your ride, until it falls apart to it's EOL.

[@DeathScouter]

So grateful that you watched my video. You've saved a ton of money. My last "new" car was in 1997 when Honda came out with the CR-V, prior to that it was in 1987 when I bought my first car as a "young professional" starting my career. As it worked out, I didn't know any better and realized later that I got "ripped off" because Maryland was still allowing "Sum of the month's digits" loans, where you pay all the interest upfront so that pre-paying the loan doesn't save you any money on the back end. "When I was young and stupid, I was young and stupid." - George W. Bush I didn't have anyone showing me the way or the pitfalls of what the "friendly sales guy" was selling me. That's why I make these videos.

[@DeathScouter]

QUICK EDIT... I said "used car loan term is 69 months". I meant to say NEW car loan term.