How Much Should We Spend on a Car?

[@Je.rone_]

This is always a tough question, but buying a reliable vehicle and holding on to it until it's no longer reliable is the best way

[@multistack1502]

Ewwwww you’re here

[@griffin4248]

True. A car is a car first- the screens are nice but do you need it and can forgoing it increase some part of your life more so?

[@taylormoak2002]

Oh my gosh Black Vito, 3 vidoes I've watched today you've commented on lol.

[@Je.rone_]

@@taylormoak2002 i love finance videos and it's good for business😂

[@braxxian]

Agreed. I am 52 and have owned 3 cars since I started driving at 18. I purchase a near new car then keep it till it literally falls apart and costs more to repair than its worth. Continually changing cars is one of the fastest ways to become broke.

[@mitshua]

Anthony sounded so much like Dave when he said, "here's what I generally teach..." Before he went into the explanation. Leaned back with the arm fold and everything

[@joelzamora5868]

Oh! I just saw it 😂😂😂 you're right lol

[@OopsFailedArt]

Haha but he has such a more calm demeanor. I really hope he gets more and more exposure as Dave gets ready to pass the torch. He’s wonderful.

[@charletfoster8917]

Agree

[@LoveMyAbeshaWomen]

Exactly what I thought. And he said it like it was HIS teaching. 🤔...better if he had said “here’s what WE teach” since he’s on the Ramsey team

[@OopsFailedArt]

@@LoveMyAbeshaWomen I don’t think it’s a bad thing though. He’s coming into his own which SHOULD be encouraged. Dave will leave at some point. He needs leaders to take his place

[@James_Sovereign]

I'm 44, my wife is 34, and retired from full time work 8 years ago (I sold a business). We're 100% debt free and drive a 10 year old Kia. Cars are a great way to keep you poor whilst looking rich.

[@amazinglats6020]

I’m envying you. I’m currently driving a 15 year old Kia:(

[@amberdalbec548]

A good testimonial for young people like me!!

[@James_Sovereign]

@@amazinglats6020 we're looking at upgrading at the moment, but only because it's likely to need some repairs soon and the ROI is just not worth it. We won't be buying anything newer than a 5 year old Kia/Hyundai/Toyota.

[@James_Sovereign]

@@amberdalbec548 The earlier you start, the easier it will be. I often wonder where I would be now if I had started in my early 20's instead of chasing admiration from my peers.

[@amazinglats6020]

@@James_Sovereign I feel like it doesn't matter how early you start you'll always wish you'd started earlier. I started at 19 and wish I'd have started at 15 or 16. Instead I personally prefer to think where I'd be if I never started caring about my finances.

[@Focused-ni9qh]

I own a 2003 Acura 3.2 TL Type S it has 275,000 miles on it and I’ve only done oil changes, tire rotation and changed belt once. These cars run a long time. I have no debt and I make $60,000 a year. Never pay more than $10,000 for any vehicle!

[@chris314191]

I literally have a 2007 type s with 270k and it's been such a champ. running it into the ground but it's been very faithful 🙌

[@Focused-ni9qh]

Yeah hell yeah! ​@@chris314191

[@JordanWilliamsN]

Nobody: Dave Ramsey: Your feet are free, save the money.

[@xieyeet2049]

🤣🤣🤣🤣

[@devb2947]

I almost spit out my drink@

[@TartarianTopG]

😭🤣😭🤣🤣

[@WarriorOfEden3033]

Is that wrong depending on the situation that might make sense. I work a mile from my home I can walk to save money.

[@nicemicheal1714]

or even invest with it

[@Michelle.05]

It boggles my mind everytime one of the guys says to buy a $3,000-$7,000 vehicle. I live in the country, I travel early morning hours, I drive to another state and im on the road 5+ hours, round-trip. Sitting on the side of the road broke down in no man's land isn't on my agenda, if I can help it. You have to feel safe and be in a safe vehicle while driving.

[@inspectorjavert5563]

yeah, they never take into account all the money you're spending on repairs. especially if the car wasn't maintained properly. you have your normal wear items like struts, ball joints, cv joints, sway bars, pitman arms, etc. but you also have to take into consideration a poorly maintained vehicle that's leaking oil from the engine or some kind of transmission problem. transmission and engine rebuilds will end up costing you more than you paid for the vehicle.

[@joelfuentes1242]

I'm pretty sure the majority of people don't rely on their cars this much. Most people I know just use it to commute to and from work (maybe an hour drive at most each way) your case is an exception, not the rule. I agree with you, you'd need something more reliable and 5K might not cut it.

[@herbiehusker1889]

I've had $2,000 cars that were more reliable than a $15,000 cars I've owned.

[@codorin]

buy one or 2 years old. still have a brand new car with goor realiability. saves a ton on depreciation.

[@smartcookie3500]

Learn how to buy cars, what to look for, reviews online. Invest in tools, don't be afraid to maintain your own vehicles at home. KZbin has tutorials for almost all situations. Even if you bought a clunker for 3k and spent another 4k to get it in tip top mechanical shape, you will be ahead by 20k, if you're talking about a 27k car. Dave is right.

[@DrogoBaggins987]

I'm glad to be single and don't have to argue with anyone about how much I want to spend on anything.

[@righand]

That’s only fun for so long. Trust me I lived it for a while.

[@DrogoBaggins987]

@@righand Almost fifty and every year I am happier that I have stayed single. There isn't any reason for me to trust you but if you found something that works for you then I'm happy for you.

[@vijayvarghese1652]

i used to think the same thing but now i want somebody to do this with. seems like a fun challenge

[@MaffyTaffyHaffy]

Everyone always wants what they don’t have but when they have it, they want the other thing. How about you? Be happy where you’re at because at one point you want it back

[@XCVi_MAC]

I’ve learned so much from you guys!! I made the mistake of buying a 40 thousand dollar car fresh out of high school. But I will never finance another vehicle again!! I try and pass on the advice to family and friends but they think it’s insane to not finance a car lol. I’d much rather have a junker with money in my bank account. Purchased and rented my first property.

[@Faith-un7ns]

I financed my car 18 years ago for 43k and would never do it again either but I have to say though I’m still driving that car.

[@XCVi_MAC]

@@Faith-un7ns yeah you live and you learn

[@poodie3887]

This was always common sense to me, I’ve always thought it was dumb to finance a car

[@sonja4164]

Giving a car loan that large to someone that young is just shady.

[@billyaiello9022]

It blows my mind when people think they need to spend 20k to get a reliable car. Some of the best cars I’ve ever had were 4-5k

[@wldktz1]

Depends on your situation. My family is at minimum a 6 seat car for the next 5-7 years. That’s limits what vehicles my family can use. I can carry my family around in a Toyota Corolla.

[@AtactHD]

Some people want modern safety. You can’t just cheap out on that

[@wyattb3138]

And I won’t have time to fix a car when it’s out. I have to be at work.

[@Eyore82]

As a certified mechanic, my advice to anyone is.. If yoy need a low maintenance car that can go a million miles, stick with Honda or Toyota.. Possibly Nissan too, if you have sufficient local (not typical in rural areas) mechanic support. If you enjoy easily working on your own cars, buy a Chevy. If you live in the rust belt, go for an aluminum body Ford. Generally speaking, I'd stay away from Dodge/Chrysler, Kia, Hyundai and anything German. Notorious for rust, mechanical or electrical issues.

[@keyt4218]

Thanks for the tip. I drive a 1999 Nissan Altima and it's still rolling. Low maintenance. I'm ready to upgrade though.

[@doomy_doomy2225]

Weird you say nissan. Granted this is three years old but I have never met a mechanic recommend them cause of the maintenance needed with the way their engines are made. Have had a hyundai with pretty much no issues, but that is me. Will probably get a honda next though when my car dies.

[@blueskyhorsemanship3068]

What do you think about Mazda?

[@LifeWithMutts]

I found this advice to be really invaluable. I had never even thought about that fact that some cars are really only designed to run well for 2-3 years because theyre geared toward the fun loving and "less responsible" or "richer" people that would be trading them out after a few years.

[@George-on3zm]

It’s the computers in these vehicles is exactly what it is they were too scared to mention manufactures but most of them are like that right now. Once a computer goes it’s a lot of money.

[@cocodakilla]

Buy used and it will be fine. Brand new isn't worth it.

[@Zatoichinisanyon]

Maintenance and repairs are different beasts, but should consider both before purchasing. If asking a dealership about costs of ownership, ask the service department, not a salesman.

[@blackworldtraveler3711]

Maintenance has always been a minor issue with me with mostly 40 miles 2-4 times a week and pristine streets. Just annual oil change, usual scheduled checks, and new tires. According to my maintenance records I’ve spent around $900 since I bought it certified use in 2014 which include the $400 for tires. 2012 Chevy Sonic.LTZ. Looks brand new.

[@666dynomax]

The dealer......right. Edmunds has great tco predictions.

[@George-on3zm]

Take the vehicle to the person that does your mechanic work!!

[@redsunsmr284]

Both our daily vehicles are 2010s Honda and Lexus. I maintain and repair them myself. I plan to drive them until the end of time! We have zero debt and home paid off at 39. Also have my classic car a 91 Toyota MR2 turbo. Cars are the biggest way to keep you poor. Couldn't wait to have the cars paid off! Now we flipped a property and rolled the equity to cash out our home. We're set to be financially free in 5 years and both retired hopfully under 45.

[@Jayjewelerofficial]

Buy a 3 year old Toyota or lexus your getting 500,000 miles out of them.

[@sandyseibelhager7131]

Yep, unless you live in Nebraska. The rust eats my Toyotas but they are still the best in my book. I can get at least 200,000 out of them before the brakes, frame and everything else is rusted out. The one I have right now is a 2008 Corolla and it has 177,000 miles. I plan on keeping it for as long as I can. My next car will be a Camry or Corolla. Also, I can't spend $50,000 on a car-that's what I paid for my house. I just can't wrap my head around it.

[@WarriorOfEden3033]

Same but I also would say a Crown Victoria because you can get a lot of car for little money. Just have a qualified mechanic check out everything even if it’s a Toyota

[@666dynomax]

@@sandyseibelhager7131 rust proofing man.... It works.

[@rr186650]

There is no car that you can get 500,000 mi from it unless it's a semi. So let's stop the nonsense.

[@sandyseibelhager7131]

@@666dynomax I’m going to try that with my next one. It would cost too much to do the body work needed on this one already.

[@verlaneugene8675]

I like these guys better. Seems a lot more logical

[@chukuemekaoje1015]

Only more logical-sounding because the caller isn't in debt and has a fully-funded emergency fund, and extra cash after...

[@ryanrazorturtle5145]

Do you not like Dave Ramsey?

[@DeionSardines]

Chukuemeka Oje Right most callers come with multiple problems

[@sethbender2863]

@@DeionSardines lol yeah tbh they kinda do

[@phillippeforster241]

@@ryanrazorturtle5145 Dave is usually pretty good, though it rarely seems as if he thinks about what he says, he just gives his recipe to each caller.

[@andrewshevchuk2062]

I love Dave Ramsey, but here is where I differ. Right now I have 2 cars worth 42-45k paid off. I have a chance to buy a rental property at 75% of what the house is worth. I calculated that I'd need to put down 40k as a down payment on the house. I will cash flow around $500 each month while my tenant is paying my mortgage. Im going to sell both cars, buy the house and just go get a car at the dealer. I found a 57k MSRP SUV 2020 for 43k. 2018-2019 used models are selling for 38-39k. I rather get a brand new car and a better rate since it's new and a better resell value at that price.

[@EMichaelBall]

Used Lexuses from five plus years ago will likely be even cheaper and just as reliable, and will have taken a bigger depreciation hit. If the economy goes really south, you'll thank me, and yourself, later.

[@LoneWolf1985BK]

I would say calling the dealer is the worst thing to do. They never admit what their brands faults are or what to expect to pay for maintenance. Unless you’re talking about oil changes for the year. Your best bet for investigating is find a community run forum for either the specific car or the manufacturer.

[@diariodeumcasalviking5425]

These comment sections are turning into a cancer. People saying that you should walk and invest instead of buying a car. I believe you all failed to understand the point of the show, or only read the title. Listen till the end and you should be able to realize what this is about.

[@aai343]

Hey im all for walking and Biking but its not a reasonable thing to do if you live for example in Wisconsin , Where you need to car to get anywhere and winter starts early and is there for a long time its not possible . You need a car here otherwise you cannot do anything and will be stuck .

[@richard1113]

@@aai343 I think it's more about what area you are in, and even what neighborhood, rather than what state. If you live in Madison WI, you ought to be able to walk. But if you live in say, Hopkinton, MA, you pretty much need a car.

[@cocodakilla]

I'm not investing in a home so a car being a few thousand is fine and lasts for a good few years.

[@aai343]

@@richard1113 Yea unless you live in the big cities in WI you cant move around.

[@taahdaah3813]

I went through the entire comment section and only one person mentioned walking and that person was being sarcastic.

[@webbie1891]

Car payment= living paycheck to paycheck

[@sunset6010]

While WAITING on a FOOD LINE

[@DeionSardines]

That’s not the truth with everybody, but to a lot.

[@inspectorjavert5563]

not really. you can still save if you have a car payment. that's like saying paying your electric bill = living paycheck to paycheck. or paying a mortgage = living paycheck to paycheck. If you add up all of your monthly expenditures and subtract them from your monthly net income and you have a surplus, then you're not living paycheck to paycheck.

[@jadon3760]

She has 50k in savings she’s fine

[@DeionSardines]

Jadon I thought I heard something like that if so yeah she’ll be OK

[@JogBird]

you can get a '94 Celica for $800, will run forever

[@Bryan-wb7te]

Not a good family car though unless it's a small family

[@korpsofkreig1359]

Scotty

[@jadon3760]

I’m buyin my teslaaa

[@labornurse]

800 too much, shouldn't spend a cent over $350

[@herbiehusker1889]

Scotty is the absolute hackiest mechanics of all time. I would listen to what he says and do the opposite.

[@dexterm1285]

So many good newer used cars that are reliable that will go 200k+ miles available in the $10k to $15k range.

[@TartarianTopG]

Ikr I have trouble figuring out what cars are brand new and what are 3-4 years old. Seriously

[@justicejoycetv]

Like, Farr. I bought a Hyundai Sonata for $17k with registration tax and title plus beaucoup bells and whistles while only making &50k net. My credit made the interest worthwhile.

[@trailrunnah8886]

@@justicejoycetv Hyundai's are good cars! My girlfriend has had a few, and she decided she's keeping her current Elantra for the long-term. They're such a terrific value as far as the great warranty and all the features for the money.

[@EMichaelBall]

@Trail Runnah She sounds like a keeper.

[@TheMaddenComebackKid]

Cars are money pits.

[@JK20239]

So is the house you live in

[@rayanaltowayan9558]

@@JK20239 no not really, houses are investments. E.g. you can make it nice and sell it, or make people rent it

[@DeionSardines]

Rayan Altowayan You could do the same thing with a car technically.

[@Paintball1212]

@@JK20239 House is a money pit? You make a return on investment when you have a house. A car does not give you return. You're an idiot.

[@cocodakilla]

You only make an investment on a house if after interest payments, you have a profit. In todays day and age most houses are overpriced. I dont want a house and wouldnprefer a good car. But also don't buy a new car, buy used and look after it

[@porschefanatic1049]

It depends on the deal you get on the car. I got a brand new loaded Civic about 18 months ago. Used versions of my car were more than the deal i was able to get plus the APR is lower on the new car. You just had to do your research. Just telling people to buy a used car that is cheaper isn’t the answer. It should be buy a reliable car, get a good deal/APR, get a car that holds its value, and hold onto the car until the wheels fall of. Watching Dave Ramsey videos sometimes pisses me off when they are stuck on the same script

[@thelounge243]

It’s always interesting to see all the investing gurus tell people no matter how much money you have or make to buy a car under 10k. It’s ok to enjoy the money you’re making. It’s the reason why you wanted that much!

[@bradencampbell6185]

It's almost like these people are asking for financial advice so they're telling them what the smartest thing to do financially is

[@CaseyBurnsInvesting]

The real question is how much of your money do you not want to have.

[@Kaodusanya]

Dude you are on every financial video I watch.

[@marisastoneobrien7834]

Exactly!

[@FerventReminder]

@@Kaodusanya yep, these guys are really trying to be a walking billboard for their channels. I guess he could be doing worse things with his time but it’s still somewhat tiring seeing it everywhere.

[@andrecorreia4301]

@@FerventReminder regardless what matters is the message. So long as it is not always the same message I see no problem reinforcing common knowledge

[@rayanaltowayan9558]

Really like these 2 guys

[@sunset6010]

Does Dave PAY you ?

[@sunnydays4966]

I like Dave Ramsey self if the time thay have the better answer I just love his reactions.

[@skunkycatog]

Anthony with ken or John make a really great team, you have the tough love with Anthony and the book smart degrees with ken and John. Hogan is cool, just feel like he tries too hard, these guys feel natural.

[@canceraxe1447]

Get a used Corolla. Reliable and runs like a clock

[@Mdudeman13]

I just bought a 2015 Camry with 90k miles for $8k and I feel like I spent a fortune.

[@ChrisMFlorida]

Good car 👍

[@wtDrake]

I bought the same car but 37k miles in the summer of 2018. It's paid off now and I wanna keep it til 2030

[@rerako4755]

Where in the world can you get such a steal... Everywhere I'm looking its 15k?

[@Mdudeman13]

@@rerako4755 Bought it from the first owner, they got tax incentives to sell it because they just bought a new car, plus it has two accidents on the car fax, just minor bumper damage. Dealerships want WAY too much for these cars, ones in similar condition go for up to $12k here in central AR.

[@SherryEllesson]

For that particular brand, you got a great deal. It'll run for a VERY long time as long as you maintain it well.

[@strawberrycheesecake7912]

I paid of my car this year, im so glad im done with that stupid.

[@gcromer903]

Congrats! Feels great, doesn't it!

[@domwings4329]

Graduated with a PHD in D.U.M.B.

[@SimonSaysyo]

Caller: I bought a Toyota Sienna Dave: I have four of them, they’re great cars

[@DeionSardines]

😆

[@donaldwilson2620]

I agree, for $27K a you could buy a nice 3 or 4 year old Toyota Sienna or Toyota Highlander as a good reliable family vehicle. Those would be my choices because of the legendary Toyota reliability.

[@BitcoinTo100K]

Toyota

[@XanMan1980]

@@donaldwilson2620 that’s ridiculous! You won’t attract any women driving cars like those!

[@Melissa.712]

@@XanMan1980 If any man on the face of this Earth buys a car strictly to attract women he's an idiot.

[@Justin1020304]

Get a Lexus or Toyota and you’ll be good for the next decade

[@donaldwilson2620]

I agree, my choice for a good reliable family vehicle would be a 3-5 year old Toyota Sienna or Toyota Highlander.

[@keyballa]

Facts lol

[@josephmorgan4108]

I like how he crossed his arms like dave when her said heres what i usually teach

[@BirdDogey1]

Bought my car new. Drove it for 11 years. Took very good car of it. Put roughly 5 k into it for repairs the last 3 years. Drove it another 6 months and the engine blew at 168k miles.

[@Kaktus965]

Nobody asked. But ok…

[@BirdDogey1]

@@Kaktus965 Point is...a used car may not be a good value. Sometimes the peace of mind you get with a new vehicle is worth it.

[@zachjones2346]

@@BirdDogey1 Sounds like you are terrible at maintenance.

[@BirdDogey1]

@@zachjones2346 KIA

[@cdogvlog5557]

I have to say that I kind of like the idea of an electric car, not because I think they are good for the environment, which is kind of hard to figure out with all the stuff in the batteries, but just because of the maintenance and gas costs you save on. The best is to just live close to where you need to be of course.

[@wendyinegbenedo1307]

You don't actually save money though, because the upfront sale cost is $20k higher than gas cars.

[@2-old-Forthischet]

$27K car in today's market? Does it come with four wheels? IMO, a lot depends on their age, kids, etc. A kitchen remodel is big bucks. I know because I wanted to do that at one point but it was going to be half the price of my house purchase! My GF is going through a complete kitchen remodel as we speak but luckily she has major cash reserves. When I was raising a family, my son's education was priority one, not a car, even though I am/was a gearhead. I had one really good car, either brand new or fairly new for the wife to drive and I drove a junker to work. Priorities!

[@666dynomax]

You can get tons of used cars for 27 are you kidding?

[@2-old-Forthischet]

@@666dynomax where I live, $27K doesn't get you much anymore, used and especially newer unless you're buying a lower version of a model.

[@BagsNBaguettes_327]

AO, I drive an Acura RDX 2015 and got it brand new $37k, paid off and driving it for at least another 2-3 years! Currently saving those payments 💰💵💵💵

[@EMichaelBall]

Key here is "at least". Nice Golden!

[@midnightz317]

HSV gang 💪🏿. Do not get a German car, especially an Audi. Work at the Audi dealership here in HSV and if you buy one, driving it into the ground will hurt the bank even if you’re making 100k+ a year. Maintenance is expensive on these and you’ll go through tires every two-three oil changes.

[@182hono]

My issue with the advise is this. They should be saying to look for a great deal. For example I purchased a 2019 Ford F-150 XLT for $27,000 with 16,000 miles. That is about the price of a 2016 equivalent with 30,000-45,000 miles. If you eliminate the new/ 1 yo/ 2yo from your search your blinding yourself to potential value. I say search everything far and wide while keeping your criteria in mind.

[@cosmomontanaro5759]

The answer should always be: "No more than $18,000 for a sedan or $25,000 for a pickup." Those are the cheapest sedans and pickups you can buy (new), and frankly you don't need anymore.

[@frostyk1371]

Baby step 4,5,&6: I won't ever have a car note but I will NEVER EVER buy a used car ever again. Worst experience of my debt free life. Biggest regret so far on my baby step journey.

[@mxerb5912]

Anthony paid cash for a new BMW 7-Series which is probably the worst purchase you could make. They depreciate faster than used toilet paper.

[@AwesomeMan2696]

I’m gonna has that metaphor from now on thank you lol

[@LukeSwagwalker]

Yeah man, but if you're on BS4-6 that's a decision you can afford.

[@porschefanatic1049]

yeah he should have leased that car. or buy a cpo, the high end german marques drop 50% within 2-3 years

[@machintelligence]

@@LukeSwagwalker Sure, you *can* do it, but should you? I don't like to be on a first name basis with a mechanic.

[@heroshyma69]

He actually paid for a used BMW, which he ended up selling.

[@striker943]

I wonder how much of this "live cheaply despite financial freedom" phenomenon is the that those who actually make it to baby steps 4-5-6 might be disproportionately those people who find enjoyment in saving.

[@jeffb4612]

TOYOTA!!!

[@BrianaBudgets]

Ken is talking about Toyota lasting forEVA🥰

[@SlyEvoIX]

I’m a car guy so I’d rather eat ramen and clip coupons so I can afford a nicer car. My M3 was paid off in cash but it took many years of saving up. One strategy I use is to take advantage of dealer finance if it’s lower than your rate of return for investments, so your investment income can cover the interest/car payment.

[@ihmpall]

Lucky for you walmart has job for 65+ with no money

[@skunkycatog]

He’s talking about BMW’s, 1000 percent he’s talking about bmw’s, mine started falling apart at 80 k miles, everything ken said is spot on. Never again will I buy a bmw, ken just put them on blast, people need to know how bad those “ultimate driving machines” are.

[@windy6868]

Not all bmws are bad

[@morilec469]

Had two beamers and zero issues with both of em. Currently driving a 3 series f30 with almost 230K on the clock, and all I had was just maintenance stuff like oil changes. Next one is going to be a bmw too :)

[@michelleprice5945]

these guys are so much more relatable!

[@phaldaz]

Compared to who? I know there's been quite the turn of hosts so I wonder which ones you don't like as much?

[@WarriorOfEden3033]

@@phaldaz probably because they are car guys & maybe they speak in a way this guy resonates with. I don’t know why this comment triggered you 😂

[@michelleprice5945]

@@phaldaz compared to Dave Ramsey

[@phaldaz]

@@WarriorOfEden3033 a question doesn't mean I was triggered. I was curious. But I appreciate your insight too!

[@phaldaz]

@@michelleprice5945 goootcha tyty

[@bitcoinpysa-cryptominer456]

*Real answer: 40% including all expenses insurance/gas/maintenance* Economy car in 20s = Flashy cars in 30s

[@conureron3792]

Ken & AO: we could use a list of these expensive lemons vs the low maintenance ones! That would be very helpful!

[@moldyrefrigerator]

Expensive and bad reliability over time: BMW, Mercedes-Benz, Jaguar, Audi, Maserati, Ford (not expensive, but tend to have issues from being cheaply made) Low maintenance: literally anything Japanese: Toyota/Lexus, Honda/Acura, Subaru, and Infiniti/Nissan (not to be confused with Hyundai and Kia, which are South Korean and tend to have more issues on average). I have 3 vehicles, all paid-off/each worth a few grand; they are all Japanese-made and I hardly ever need to “repair” anything, just gas, oil change, and yearly registrations.

[@anitaknight3915]

@@moldyrefrigerator thank you!! We appreciate you for this list ; ). Most mechanics told me buy Japanese not American lol. And that the fancy expensive brands cost a ton when things go wrong (more gadgets= more to go wrong) and you have to go to an import technician with special tools/dealership to fix which is a lot more $.

[@EMichaelBall]

@Anita Knight Panther bodies and GM cars from 1996 and on with the 3800 V6 are surprisingly reliable American cars.

[@AudraZapoticky55]

investing requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself May I ask which investments are good??>>>>>>

[@Annis-co7vu]

I understand your concerns, my friend. I recommend exploring passive index fund investing and expanding your knowledge in this area. Personally, I experienced both successes and challenges when initially seeking a reliable passive income.......

[@Madlyn55]

how do I get in touch with this consultant that assist??>>>>>>

[@Annis-co7vu]

STEPHANIE KOPP MEEKS, that's whom i work with look her

[@Madlyn55]

Thanks for these recommendations........

[@tomdrummy4984]

Buy a 3-5 year old Toyota or Lexus good for 200k-300k miles. I have one of each

[@MrPromerican]

Lexus are expensive too fix..

[@blackworldtraveler3711]

No thanks. I will just buy used two year old car with cash and trade it for a newer used car every 4-5 years or 90 miles which ever comes first.

[@SeanBaker]

27k or 60k for a vehicle. Both are insanity. That is all.

[@jadon3760]

How is 27k insanity for a car like bruh if u have the money and r being responsible that’s fine

[@JugglingFinance]

I agree. But they have the money.

[@Faith-un7ns]

If I bought a 27k car I would be driving it longer than 4 or 5 years. I wouldn’t pay that much if it only lasts that long. I paid 43k for my car 18 years ago and I’m still driving it. It has 140000 kilometres on it and just minor break downs. Still running good.

[@herbiehusker1889]

Depends on your income and how much you've saved.

[@ragingninja4292]

I bought my motorcycle for 25k and my Jeep for 17k with a 10 year warranty lol

[@ericstewart517]

The stealership thing is a bit off base tho... 1) The service department IS the main profit center of the dealership. 2) Dealers are NOT, who manufactured ish.... They are the protected Retailers, they are just distribution centers NOT engineering nor manufacturers. The quality of their on-going knowledge isn't superior to a solid mechanic or other sources of information.....and "how" could it be? There in the SALE of new game, not the keep it running game. Much easier and more apt for their service folks to just recommend newer models that their inexperience with older models keeps them more comfortable vs having to be abreast with so many different models. Young folks get more annoyed quicker and quickly say just get a new one...one that their current familiarity works in their favor vs a solid mechanic that has been around long enough to be comfortable either way. I went to T-Mobile to have one of the 'kids' reset my tablet because I misplaced it and felt since the Sprint switch over that the connection needed resetting....kid didn't touch anything 1st thing out his mouth was 'You should BUY a NEW one....' I'm like dude W TF He's we can't even 'touch' devices etc etc I'm like look schmuck I need help resetting this product I bought and pay you m/fers for every month that supports all you m/fers STANDING TF around in here and You are saying nobody will even HUMOR me and move some ish around on my effing tablet. He then resets the ish as I asked in the 1st place, mine you I just bought a IPad like 3 months ago. Many times this schmucks in the retailers only wanna SALE new ish and wanna be clueless to maintaining the ish you already purchased....

[@Wheelmanbrick]

I would suggest look at a honda, Nissan or Toyota, and certain chevys and Fords.

[@Sara_The_Feral_Housewife]

A kitchen upgrade is more important than a nicer car for anyone who makes meals at home 😂🤷‍♀️

[@victormendez2850]

Lol that's true especially for girls.

[@victormendez2850]

Can I have your whatsapp number please?

[@Focused-ni9qh]

It’s especially true for male chefs and foodies too! 🍕🎸

[@victormendez2850]

I got a good news guys yesterday I meet a professional trader who helped me to invest $56,000 and with her strategies and skills I made a profit of $231,000 investing with her, I was introduced to her by a friend.

[@victormendez2850]

For her company's address it's on telegram @: investormariana

[@Hyde_N_Seek1]

Go with a Toyota can't go wrong chose reliability over anything else

[@alcoholandfun243]

100% agree. Got one, love it.

[@Emophilosophy]

I have 15k set aside for a car because mine has 200k miles on it now. I’m on step four and am still tempted to buy a 10 year old car for a few thousand. Sucks to buy a car right now but I think I need to calm the gazelle in me and go for something nice and reliable.

[@shawn1869]

Toyota, Honda that's it.

[@IsraelIvanCastro]

Dropping some knowledge. Love it

[@dangerouspickle69420]

or ford but only the trucks

[@SuperChamps29]

and Lexus

[@mattcm32]

Why would you ask a car dealer who you’re considering buying a car from questions about the reliability of the car he’s trying to sell you? Would an independent mechanic not be a more reliable source for that information? I’d bet good money on a dealership giving your prospective car a clean bill of health following a preliminary inspection and then finding more than a few “necessary” repairs after the first year or two...ask me how I know!

[@nick_jacob]

Japanese cars like Honda, Toyota, and Mazda are going to be the most reliable. Personally I'd probably get a new Toyota Highlander Hybrid if I were getting an SUV.

[@kchiker]

A Highlander Hybrid is what I just ordered. My 20 year old car is starting to get expensive to repair.

[@therealbuba]

Toyota is leaps beyond the other two in terms of reliability

[@-m.d.n-9019]

I don't want a car payment for a first car. I want to buy a car cash. The cars I particularly want is the 1990-1993 Volvo 240 , 1995-2002 Silverado(actually c/k) , Infiniti G35 coupe. I don't want to pay more than 3,100 cash for none of them.

[@FitnessCoachMark1]

Nothing wrong with buying a new car. Some new ones like Toyota and such lose very little value from 1-3 yrs, it's quite shocking.

[@SweatSquad31]

I don't mind too much the maintenance stuffs, because Im a licensed car mechanic and I can fix my own car. But I love this video, gave so many pointers on buying my next car!

[@TheXLAXLimpLungs]

Some months I splurge and go broke some months I stash away a $1000 but I've gotten really good about not using what I stash away and now I've saved $10000 this year with $1700 of that being gains in stocks.

[@JK20239]

Accessories and comfort... epic fail. Throwing good money away for nothing. Comfort use to be having working A/C🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️

[@jadon3760]

What else would they use the money for? Like chill she’s not in debt

[@bigal8730]

@@jadon3760 Correct, she’s not in debt and the house hold income is $120k. More than affordable. Ok pay $27k for the car and put half or more than half down and pay it off in 3 years maybe.

[@armandol1826]

@@bigal8730 wring channel. We own our vehicles here, those above baby step 2

[@Penguin-kr9do]

Yes, comfort is in fact important. Learn to actually enjoy your life rather than penny-pinching over every nickel.

[@porschefanatic1049]

you can get a very nice loaded Toyota or Honda with leather seats, sunroof, android auto/apple carplay that will be reliable out the door for $27k easily

[@meetandrew9284]

Bought my car literally in cash, had to pull up my bank statement before dealer called the police, but I got $5,000 off the used price!

[@moneybee]

Well done! I'm imagining you having to walk in with a briefcase full of money, but i'm sure it was much more casual than that haha. Great job getting a better deal though, that must have felt great!

[@bindingcurve]

You do know that checks work fine.

[@meetandrew9284]

@@bindingcurve yes, but I wanted to buy this Toyota for a lot less, and when the manager saw the cash, I know he hopefully would not refuse.

[@bindingcurve]

@@moneybee have to keep it under 10K. But have done the cash thing before. 7K is not that big of a stack of Benjamins

[@heismanhighlights5123]

Why would she need to call in to ask this? It’s pretty simple you have 50k saved up and make 120k a year.. you can afford a 27k car lol

[@MiguelRPD]

You can get a decent Toyota Camry 2002-2006 (one of the most reliable gens) for around $3,000 or less. And it's easy to work on. Don't get the 6cly if you're strapped for cash.

[@inspectorjavert5563]

Lol, and you have to put brakes, tires, tie rods, wheel bearings, cv joints, struts, etc. on it. you're better off with a small payment at that point.

[@MiguelRPD]

@@inspectorjavert5563 so like any car? What's your argument here?

[@inspectorjavert5563]

@@MiguelRPD Not a new vehicle. New vehicles or used vehicles with low mileage, you're not going to have to replace those parts until at least 75000 miles.

[@jadon3760]

She’s not strapped on cash she’s just tryna be frugal and she can get a bmw if she wanted

[@MiguelRPD]

@@inspectorjavert5563 bro you are not finding a cheap car that milage. That's easily +$10,000. That's why I suggested a vehicle for around $3,000 that's proven reliable and easy to work on.

[@louib716]

Am i the only person who thinks the 50% is too generous for households that make more than 100k? I mean, unless youre on step seven. I know you don't have to be at 50% if you dont want to, but spending that much money when youre not secure yet rubs me the wrong way.

[@555noelle1]

It’s all cars in the household not just one. In fact it’s all cars, mechanical toys (boats, tractors, etc).

[@deankruse8751]

If you make 100k and have 2 20,000 dollar cars and 1 10,000 dollar boat or motorcycle or whatever you like on baby step 4 through 7 I don't see a problem with that. Not on steps 1 through 3 though haha

[@paw7110]

I was thinking 25%

[@Soljarag5]

Yes, you are the only one

[@ViperST989]

The part I thought was missing was one vehicle and not considering everything in the household. Riding mower, snowblower, cars, atvs, etc. All added together should be under 50% of income. I would go further and say take-home income. I like the idea of driving a mediocre car so our family car will be nicer.

[@d-rey1758]

50% of your annual income!? If a person saves 20% a month for a car that will take 2.5 years. But then that doesn't leave much for retirement. So if a person leaves 10% that will take them 5 years. But that probably still won't be enough for retirement, mid-long-term savings, and an emergency fund. so if they are saving 5% a month, which is recommended for short-term savings, that will take them 10 YEARS until they've saved 50% of their annual income. And even if someone did that, are they really supposed to be driving around in something that took them 10 years to save!?

[@yamamancha]

How much do you want/ need to spend on an asset that has a 5% utilization rate and will depreciate by 40% to 60% in the first 5 years? This is the question they should ask people seeking advice about a vehicle budget. On average, Americans spend only around 1hr/day in their car so cars spend 95% of their time parked and unused. Unless you have money to burn, the car you need car should depend on how much you actually drive. Grocery shopping, errands, and dropping off the kids? You don't need much. Commuting 60 mins each way to work? Get something more durable and reliable. And everyone should budget $1500 to $2000/yr for regular maintenance and repairs. Spending small amounts on regular maintenance will greatly improve the service life of a vehicle.

[@FerventReminder]

I’m surprised more people don’t look at it like this. I can understand wanting a cool or fun car when you’re financially established but early on? Let’s get real... Good comment.

[@yamamancha]

@@FerventReminder Yeah, it's crazy if you think about it. The average vehicle ownership length is 8.5 years, similar to the expected lifespan of a mattress. However, with a 30% to 35% utilization rate, we use our mattresses much more than we use our cars. In fact, I'd bet many people buy a new car before they buy a new mattress. Yet how many people spend $10k or $30k or $50k on a mattress?

[@therealbuba]

@@FerventReminder if you think everyone should min/max their life, why are you wasting time commenting on KZbin, get out there and make more money!

[@therealbuba]

@@yamamancha using utilization rate to compare different product categories is extremely dumb. It doesn’t cost 20k to make a mattress, but it costs around that much to make a new car. People don’t spent ridiculous amounts on mattresses, because they don’t have to. Prices are based on supply and demand, not just demand.

[@CyberSlugGump]

"You're going to be driving this car 5-6 years.... " That seems really low to me. That's how much life I get from a cell phone :-). I hope 10-12 yrs minimum for car, 8-10 years for computers--but I tend to keep things longer.

[@ChrisMFlorida]

Same.. had my 8 years so far no plans to sell

[@Paul-zi5gj]

How much should I spend on a car what ever you want

[@July-qo7jp]

$17k is insanity you're setting half of your savings on fire for a disposable vehicle with no guarantees what extra money you'll have to set on fire just to "protect your investment" when a repair comes up. Then you're gonna buy overpriced full coverage insurance so geico is liable for any loss to the car you could barely afford and if it wrecks you're gonna have to report it and trash your insurance rates for the next 3 years. Take a couple grand to a government auction or estate sale you can get perfectly good cars without obligating yourself to $20-30K that you then have to "protect" by setting even more money on fire.

[@smartcookie3500]

Never spend more than 10k on any car. Typically, you can find SUV's, vans or trucks that are about 8 years old. For sedans or coupes, you can find 6 year old cars. Luxury/sports cars not included.

[@armandoweckmann5699]

I paid off my mortgage and I have cash to buy my dream car but now I am debating if I should buy it... 🤔 I am stuck on saving mode 😆

[@stocksxbondage]

Ken was deeefinitely referring to Mercedes, BMW, and Audi!

[@toddbenfield6546]

Find a nice 1/2 owner car with records, and a clean carfax if your going the used route 👍I like to buy new, and stay in the warranty! When the warranty is up, buy another new one! You can still get good money out of your car being the original owner, and service history.

[@hersheyskwertz9315]

If you own a business. Lease it and you can deduct the payments from your taxes

[@wendyinegbenedo1307]

Pre-sale inspection. Great advice!! Thank you!! ❤

[@AmandaHugenkiss2915]

I had to laugh when he said she'll be driving it for 5 or 6 years. I drive mine for decades

[@horizon2150]

Hey Dave Ramsey, I make 500K a year, should I spring for the cheese on my chicken sandwhich at Chikfila?

[@genxx2724]

You shouldn’t see the inside of a Chik-fil-a unless you’re working there!

[@laneblount9888]

Beans and rice

[@justicejoycetv]

I bought a Hyundai Sonata for $17k with registration tax and title plus beaucoup bells and whistles while only making &50k net. My credit made the interest worthwhile. Got the new model and didn’t want to deal with anymore repairs like my F150 required. *First car note for myself and I was so worked up about a car payment. People need to hear it’s okay for this debt just make the right call and don’t overspend.* The kid will get it once it’s ready to move on in 10 years plus.

[@KS-cl8br]

Buy it 100% in cash. No interest. Consider 15% to 30% of your income. New is fine.

[@KS-cl8br]

15% better

[@ElijahHunter77]

It is not her only car. All motor/wheel stuff should be less than 50% of annual income.

[@TheElevateYourselfPodcast]

VW Passat is the way to go. The diesels will go 200k miles and only $10k with sun roof and leather interior. We got ours with only 40k miles on it

[@EMichaelBall]

The exhaust systems on 2009+ TDI's are known to fail -- $4,000+ repair

[@rauliciii]

Me and my wife have a 100k/year income & own an apartment (worth about 150k). Can we afford a 15k car, if we pay cash for it and not from our imergency found?

[@a1lewis4]

REWARD YOURSELF but always do research first

[@oceanman859]

7:57 Who said you cant have fun with being cheap :D, buying a Mazda miata is probably the most fun for the dollar you can get from a car stand point

[@blackworldtraveler3711]

I’ve driven an MGB for a while so the Miata has to be fun to drive. I remember back in the 80s when the car first came out. People were paying 20-50% more for preorders. With debt of course.

[@bindingcurve]

My 99 was $4000 with 78000 miles and a newer top. Been driving it for the past year. Almost always have one for a 'fair weather daily' and a rust bucket for the summer. Storage for the winter is $250. But you really need a garage if you are going to own one.

[@oldfordman68]

$17k or $27k the price doesn't really matter because it could still be a lemon. Get the least expensive one its going to do everything the more expensive one will do just fewer toys

[@earthsteward9]

I've heard the advice to spend only 10% of your annual income on a car. The same article said to spend 4 month's salary on a watch and to buy a buy a house that is only 3x you annual income

[@moldyrefrigerator]

Different priorities for different folks. My watch was $10. I would never spend 4 months salary on a watch

[@Faith-un7ns]

4 months salary on a watch is insane. Waste of money.

[@universalenergy2311]

@@Faith-un7ns I agree! I just look at the sun 💪🏽

[@earthsteward9]

I agree everyone has different priorities and needs and I don't agree with the watch part but I agree with the article on the cars and houses. If you worked in a formal business environment a good watch would be a good choice but a $400 Seiko or Citizen would be fine. Also if your job is as a real estate agent, having a half-decent car is a good idea and by that I don't mean a luxury car. Keep in mind though the luxury watch would depreciate a lot less than the car.

[@Faith-un7ns]

@@earthsteward9 the person who giving this advice probably sells watches for a living. Just like how they say buy an engagement ring for 3 months of your wages and Dave says one month worth of wages. Someone’s just trying to make money here.

[@TheWellingtonExperience]

I would have loved to see these questions: 1. Why they want a new car? 2. What other cars do you all have? 3. What car are y’all thinking of?

[@Diggler23]

Are you referring to a 2018 cadillac escalade as far as electrical problems by any chance?

[@AtactHD]

Car’s value can’t be more than 50% of your salary? That’s the least Ramsey thing I’ve ever heard. I would have expected 25%

[@dummgelauft]

(17000+27000)÷2=22,500

[@virtuosowins]

Toyota Honda Ford in that order.. No other brand might match the reliability I feel.

[@dexterm1285]

Mazda...once they broke away from Ford is right near Toyota now.

[@ericson0504]

Yeah... guys, we're gonna need a list of those good cars. Honda, Toyota, Subaru? Spill the beans.

[@Otherj3839]

I'm trying to convince myself to buy a new/newer car. I've been driving the same 89 firebird for 22 years now, and a 2000 neon for 14 years. They're both about done.

[@donaldwilson2620]

If you want a good, reliable family vehicle of around $27K I would stick with the Toyota brand and look into a 3-5 year old Toyota Sienna or Toyota Highlander. Both are very nice to drive and have Toyota's legendary reliability. For example, my good friend has a 2004 Highlander with well over 200K miles on it and the vehicle still runs great because she actually keeps up with the maintenance on it and Toyota maintenance is fairly inexpensive.