Millennials Leasing Cars - Dave Ramsey Rant

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[@lonnielynn9566]

People think millenial is a blanket term for young people but the truth is all millennials are grown adults now

[@0412lennon]

Average millennial is 30 By now

[@thesoundofthesuburbs]

The youngest Millennials are like 23-24.

[@yusufcagowayne1990]

But they act like kids

[@richieblack5530]

@@yusufcagowayne1990 agree I got an aunt with kids that still goes to the club smh

[@cgasucks]

And the male millennials wear skinny jeans with man buns.

[@dylanpetersen4169]

I make $80,000 a year and will not put myself into a car payment. My grandpa always told me, if you cant pay cash, you cant afford it.

[@resmarted]

Your grandpa was from a time when cash was worth a lot more relative to assets.

[@camposjesus3725]

I make tripple what you make and have car payments. You're not special for believing that.

[@Heykay34]

I'm gonna ride my hooptie until dies; until I can buy a car cash. It's not that's serious people. The person you're trying impress is gonna see your bmw you can't afford and say "wow" and then your yesterday's thought and stuck in debt and starving 🙄 PRIORITIES PEOPLE.

[@kinny78]

you are 100% correct! I have not had a car payment for the last 10 years. Because of this, i am able to invest in 2 condos and a house i live in. Car payments is the biggest wealth drainer in life.

[@MrMister1227]

PusherLove Gurl Amen sistah✊

[@drunclecookie216]

where you live factors into whether you have a car payment or not... I live in a very rural area and have to commute 70 miles everyday to work... it usually takes me 4 years to pay the car off, but then it's a matter of whether the car lasts 10 years or not... and bad thing is my wife has to commute in the exact opposite direction from where I work... I'm about 35 miles west of home, she's about 20 miles east of home

[@lizwick]

PusherLove Gurl I had a car payment, never again in my life. That's smart for you to think this way 👍🏽

[@JRCGuitarist]

Of course priorities are an issue and have been in every generation, but when the priority becomes getting a job with a company as a driver. In today's economy, Drivers on a rise. Presentation is key. People will look for that nice looking car, over a hooptie. Not everyone today buy Luxury cars for flash. Believe it or not, driving jobs are on a rise, and the better looking the car the more your're likely to be paid. Appearance matters unfortunately. In fact I'm planning to get s car for the same reason. Delivering for Amazon is good money depending on the income, but driving for a ride share company, appearance matters. I'm planning to get on board with driving jobs myself. But getting a BMW, no way. It will attract money to an extent, but is too close to debt for me.

[@christopherhernandez4524]

My grandfather was a kid during the depression and lived a couple cardinal rules coming out of it. 1) If you can't buy it in cash (except for a house) then you can't afford it. 2) Never lease a car. 3) Don't worry about keeping up with the Jones'. 4) Real estate is the key to wealth. "The population is increasing and there's only so much land on earth kid and it doesn't look like living in space will be an option any time soon". 5) Never let anyone tell you something can't happen. No one thought the depression was possible but it happened. 6) Look for investment opportunities ,but if everyone is in on it be careful; that bubble might pop. 7) Banks are in business to make money, their insurance is the politicians you voted for.

[@johnsmith-vz4rh]

1) If you can finance at a low rate, always finance the entire amount. Then invest that money. 2) If buying new...always lease. You know the exact amount it will cost you to own. You are always under warranty. You can buy the lease out if favorable. You don't have to worry if you get in an accident and now have a bad carfax. This loss of value of greatly impact the value of a 1-3 year car if you owned it. 3)He's right 4)There is a lot land. What would you do if all your money was in real estate 2007-2009? Invest in the market every month regardless of price and you will be rich. Buffett said if he put $10,000 in an index fund and let the dividends reinvest it would be worth $51,000,000 today. 5)You won't win the powerball 6)Depends on the opportunity 7)What is the point? I bet he went to a bank when he financed his house. Credit is why our economy so good. Without banks lending money we would be f*cked

[@owlblocksdavid4955]

@@johnsmith-vz4rh Credit can be good for businesses and other situations. Basically, it it's pareto efficient. So if buying something now creates more value for you than the amount of money owed in interest, then it's good for the economy. Credit cards very rarely work like that. It's not that the government should control banks. It's people's fault for being stupid.

[@e2sguy]

Your grandfather was very wise

[@torotheshiba977]

Lol your grandfather must not be very smart

[@bobmarker6812]

I've always lived that that way. House paid off years ago and never a car payment and saving at the same time. + NO degree!

[@maple_fields]

"I didn't even know where the Mercedes lot was until I was over 30!" You're not going to like this, but a LOT of millennials are over 30.

[@sydney45]

He had a Jag before he went bankrupt too.

[@adinahwithkaden]

Uh, yeah. A lot of them are pushing 40.

[@frankmagana1408]

Ive known were the mercedes lot has been since ive been a baby. Granted im a car guy and not an average car buyer

[@michealtorres8773]

I dont either I and not gonna bother looking for my nearest one till im better off lol

[@AuthorLHollingsworth]

@@adinahwithkaden I agree. That's me, and I couldn't imagine leasing any car.

[@CrossUpCoalition]

I am a millennial and this is funny.

[@sidharthchand8072]

Word

[@siphotchala5202]

NewportSnooze the article is study on the highest selling "luxury" brand of cars sold, this doesnt take into account the economy brands. your a little of on this one dave. a third of them are leasing luxury cars at that. that number is too high but its not a accurate reflection of the grand total of new car purchases from millennials.

[@tugboat2030]

+Sipho tchala Any millennial who owns, much less leases, a BMW with under a half a million dollars net worth is one too many.

[@siphotchala5202]

+tugboat2030 your over the top opinion has nothing to with the my comment. Dave false reported the stat. and 500,000 vs a $50k car is not realistic for our American economy.

[@tugboat2030]

I agree with you in that Dave misreported the statistic. I'm not sure what you means that buying a 50k car with a 500k net worth is "not realistic." People shouldn't be buying BMWs unless they have quite a bit of net worth. Buy something much less expensive until you have a sound safety net.

[@willowandluka5302]

Why are cars so important to people? It’s a car; it’s for getting to places. That’s it. It spends a huge majority of its life parked.

[@iAlwaysSpeakTheTruth]

Because some people like cars?

[@prachiasharma311]

Joey McMahon Jr the issue isn’t here whether you like cars or not. It’s a issue of coming to terms with reality. Understanding needs vs wants. Being a bit patient. Ride a Toyota for a few years until you can AFFORD the cars that you LIKE.

[@iAlwaysSpeakTheTruth]

Prachi Anand Sharma that’s common sense, my first car was a PT Cruiser. My 2nd was a BMW, and my 3rd is a BMW.

[@jeanlenor1858]

For me, a car means a lot. It doesn't spend much time parking. I do ubereats 7 days a week. I live in CT and run a rental business in Ohio. I only own 1 car so I drive back and forth often. But, that still doesn't justify me buying a BMW or Lexus. I buy Hondas with low miles salvage or rebuilt titles.

[@TimKuat]

Ever hear the saying "keeping up with the joneses"? People have always wanted to keep up with the newest things to impress other people. It's always been like this. Now in this age it's even more apparent. Especially with cars. People desperately want to show off what they have for that second of glorification they will get from other people. It makes them feel better about themselves and thus they will always try to have nicer things than the other person. But as you said, cars spend the majority of their life parked and in the end it's just a car.

[@Camarosindahood]

I'm 26, I've paid off $40,000 in student loan debt and bought my own house. All you need to do is major in something that pays money, and make good financial decisions after that. Its really not rocket appliances.

[@rturner09251]

Mind bottling people don’t get it.

[@renardgrise]

I'm 30 and I still don't know where the Merc lot is, haha.

[@keyroncampbell]

only materialistic dummies know where it's at.

[@bballbrc]

or people who are just richer than you

[@keyroncampbell]

Frank Assnot explain

[@keyroncampbell]

Frank Assnot 90% of the people that act like they have money don't, just look at the car they drive... anyone with a regular job, making 50k a year, with a car note, don't save money and don't have savings. It's rare they don't over 1k in their savings.... very rare.

[@brian19877777]

+keyron Campbell I get your point but also assuming someone has a Mercedes they can't afford is called a hater. The fact that I make 650k as a surgeon means I'm irresponsible having a Mercedes?

[@jigglepiggins6910]

What a great time to be a smart person. Seriously, we have no real competition out there with folks like this making horrible decisions.

[@tanmay_6363]

💓💓

[@mcamila1993]

"These poor starving debilitated millennials are leasing beamers!! What!! Don't talk to me about being debilitated. You can talk to me about stupid! " 😂😂😂😂😂 Much love and blessings to the Dave Ramsey Show.

[@locomoco2012]

Hay si muy chingona

[@SigXman]

Glad my cars are both paid for. Never again will I buy another new car. Worst investment ever. Worked like crazy to pay for it.

[@justshady]

Yeah I agree, I didn't bought used and I'm working so hard to pay it off. Ill never get into the car payment race agaib

[@hornehyundai60]

Justshady many folks would rather lease a new car than purchase a used car. Why? You have full factory warranty and usually 2 oil changes per year is all you need to do. Actually leasing is perfect for parents trying to make sure their kids are in a safe vehicle that will not breakdown during they time at college. We see parents save their $5000 hard earned cash to purchase low end used cars. We like to offer them to keep their cash and make small payments of $169-$250 a month on new car lease options. This turns out to be a great benefit for the customer.

[@ericswenson5424]

this is dumb, you have no equity in the rented car

[@BasedSped]

Eric Swenson But cars in general are bad investments, whether you own or lease them. Its just cheaper to lease a decent car with good credit than to finance. With lease, you can change out cars every few years without buying a car.

[@ericswenson5424]

no thats still dumb, dont lease a nice car, buy a cheap one and then sell it.

[@BoraBoraTurtles]

I have a paid off 2009 Honda Accord Coupe in black. I'm happy to have a car, but it looks even better paid off.

[@WeKnowTheTruth2012]

itssandytime when you cool edgy friend that has a new ecoboost where is his title? he will be like a title? never owned one 😢😂😂😢😂😣😂😉

[@daystar73]

Beautiful..

[@raj-cr4nl]

You're like the financial Lil Jon. WHHHAAT???

[@jonnyfranco7]

yeaaaaaa!

[@mirandataylor6385]

😂😂😂😂

[@JulioLopez-xz5kx]

Okaaaay

[@walterarevalo4792]

This comment had me rolling!

[@julietibbetts9262]

😂😂😂😂😂

[@Samsterdude1]

I'm a Millennial going through college and I'm happy with my 2000 doller car. It's never broken down on me, gets me to school and work, but most importantly I paid cash for it

[@JagjitBrawler]

@Snow 123 Do you know them personally? Maybe the person worked for a few years and joined college late lol

[@bottledoo3639]

jagjit bhatia do you know who that is maybe they skipped a few grades and went to college vary young

[@chrisconsorte7893]

Good for you. I’d prefer to pay cash and avoid car payments too. If I can’t pay cash, but a lot down so the car payments are reasonable. And buy a car that’s practical too.

[@MrMister1227]

Yeah I'll pass on leasing a car, I'm happy with my $1,000 dollar car with 50k miles miles and $50 monthly insurance aha

[@kevinj8431]

MrMister1227 those values you mentioned don't make sense

[@tefrumpzax]

What did you buy? A golf cart?

[@noahlara13]

No your not....

[@leonidas14775]

Just put some Lucas stop slip in every few thousand miles :P

[@goitoutdoors]

50k miles! What?! Tell me where you found that because I want one!

[@jcarlson2727]

but i deserve it Dave!!! I worked hard for my gender studies degree!! 🤦‍♂️😂

[@sarowie]

"the most expensive way to buy a car" - except that the car is never yours

[@TheBouregard]

oh it will be yours... when nobody wants it anymore at that price you payed.

[@Only2GendersCommonSense]

5:42 "The most expensive way to *OPERATE* a vehicle," NOT buy.

[@saric1990]

Paid off my house at 28 and own a 2005 Honda Accord

[@CruuushaL]

saric1990 zuckerberg was a billionaire at 23 and you’re happy about paying off a house at 28 lpl

[@ForeSquareTim]

SoluriZe You’re stupid.

[@RodovalPTY]

@@ForeSquareTim The internet is full of idiots like SoluriZe just looking into the comments to put people down and feeling good about it.

[@jacobo9611]

I'm behind ya, 2002 Honda civic, I want my house paid off by the end of the year, I'm 32.. Good 4u

[@gailcole9913]

Great job!!!

[@3munchenman]

*Says he doesn't like drama and rants. *Goes into dramatic rant about millennials.

[@peterg6953]

this guy is full of it. blanket generalizations.

[@inconspicuous7464]

shumpie41 or you could get something cheaper and more reliable that you don't need to pay even close to whatever luxury car lease is worth and pay off that student debt faster

[@MikeyStOnge]

Or just get a car you can afford!

[@goitoutdoors]

you don't understand drama Rocky. If you think that was dramatic you are on some druuuuugs.. Intense somewhat, dramatic is you're 'woe is me' attitude.

[@goitoutdoors]

which would be the point to avoid them in the first place...

[@leggingsarepants3175]

We leased our car but thankfully have learned from you, and we won’t lease when this is up. We have just under a year left. Thank you for these videos.

[@armandosolorio6950]

Sometimes, I watch these types of videos to feel way better about my financial decisions.

[@cbar6537]

I enjoy watching your videos, I know they help me make better decisions one day + you also provide knowledge while being entertaining. I thank you for that.

[@jvaldez5]

He’s like the Stephen A Smith of the financial world. Love it

[@cykablyat1466]

Honestly, I don't always agree with Dave but he's so entertaining hahahahha

[@kefkapalazzo1]

Cyka Blyat same

[@creedbratton606]

THIS IS BLASPHEMOUS MAX KELLERMAN

[@colebendoggettyounger2610]

ALot of the advise Dave gives people need to hear. When I went through my troubles with an ex 6 yrs ago I started listening to his channel after I wanted to wallow in my self pity and it all made sense. In the end it was my fault that I allowed my ex to take advantage of (who I thought loved me) and i got myself together.

[@giamkee6564]

Stephen A is clueless about sports

[@HaydenArter]

So glad this is on KZbin. I almost leased a new Honda Accord until I got overwhelmed with the idea of making payments every month. Man the dealership is pushy. Hes right it doesn't make sense.

[@tyrekejenkins726]

Hayden Arter how doesn’t it make sense tho? U make monthly payments(if u can afford it ofcourse). U have the car 3 years and make payments for it each month. Me for example, I’m 22 and have a 2019 bmw (I have a job) and can afford it perfectly. I graduated college, got a job in my major, and got a car. It’s not as crazy as you think.

[@cpkz4042]

@@tyrekejenkins726 Be sure to save a chunk of money

[@tyrekejenkins726]

CpKz I know. I am

[@shaochiavang]

Why would anyone lease a car ? They pay for like 36 months for something they won't even own.

[@AslansMane88]

+shaochia vang Because leasing costs less per payment than a traditional payment, and people don't think and just want the lowest payment possible, because debt is a way of life. -_-

[@shaochiavang]

mwall444 The worst part is that you won't even own the car after 36-48 months.

[@naegleriafowleri76]

+pmerk36 leasing allows them to drive cars more luxurious than they can afford, most bmws are leased

[@shaochiavang]

Latin Lover But you would constantly have to keep paying every month.

[@Mcdowells]

+shaochia vang B I N G O

[@JulioLopez-xz5kx]

I'm in my mid 30s I have never bought new cars and motorcycles. Only used and paid them all off in full. Feels good not having debt

[@mrdojob]

That;s the way to live life.

[@jayjayvillanueva8095]

So glad my GI Bill is going to pay for my college once I get out. The thought of having student loan debt makes my head explode.

[@jjayguy23]

You did it right man. I used GI Bill too.

[@michaelcopete3466]

@@jjayguy23 can you give me advice on that? I'm leaving for boot next month on the 19th and my ait is 19 weeks but when I can start college when I'm deployed do you think its possible for my to aleast get my associates degree in 2 years? And also start working on my bachelor

[@jjayguy23]

@@michaelcopete3466 I left military 5 years ago. You are given Tuition Assistance every year of $4,500. I recommend using that until you exceed it. The GI Bill offers housing assistance, FULL tuition pay, and book stipend. However you can't receive GI bill housing assistance while you're on Active Duty. You can use both at the same time. Tuition Assistance, and the GI Bill are different things. If you go full time, you'll most likely use the GI Bill because college costs way over $4,500/yr when full time. $4,500 might pay for 2 undergraduate classes. I recommend talking your recruiter.

[@georgelupercio2795]

" My first house...30k dollars." I'll be buying my first house soon and it likely won't cost less than 100k, so there are some of us that don't have the same opportunities as 1974

[@asatsumaorange9296]

Multiply 1974 prices by 5 to get current prices. Of course inflation will continue so as time goes on 1974 prices will sound even more absurd. The real concern is where you're buying. If a house is a bit more than 100k it's an area that doesn't have limited supply and out-of-control demand like the big northeast and west coast cities, so that's good.

[@leonidas14775]

You can find a house in the hood for that much

[@seanmckenna4126]

50k in 1974 is worth over 160k today....

[@Bridin84]

@@seanmckenna4126 you hit the nail on the head. But these old folks keep playing like they dont get it. Smmfh

[@Asher104]

Houses where I live in Sydney Australia average over a million dollars lol

[@joe59788]

2023 Dave should watch this.

[@naomiking2442]

One of my favorite Dave rants ever!

[@mano5588]

I didnt lease my car, but the worst financial decision I made was buying my $25,000 truck when I had a paid for car. Yea, it needed some repairs but I could have easily gotten another 3 years out of it, if not more. Cars are going to kill our wealth building.

[@Georgeqaws]

I wish I could find a house for $30,000 or $40,000 like Dave's first house. They are more like $275 000 now for get the small 3 bedroom. I'm about 1 hour drive east of Toronto, ON.

[@potentialise]

Dave is old, the inflation rate counts for part of the difference in the number. Cokes were prolly 10 cents back then and now they're over a dollar. You can go to the inflation calculator online to see what his 30k is worth in todays money. Using the approximate coke calculation, his 30k would be 300k in todays money. I'm jealous you can get a 3 bedroom for only 275k. Vancouver , BC.

[@PersistentPatriot]

+Georgeqaws You can thank easy 30yr mortgage loan money for the astronomical rise in housing prices...

[@MrJimmy3459]

+Georgeqaws You can get a New 3 bedroom house in Texas for $140,000

[@jr5.o100]

I can find plenty of nice homes for 100k and under

[@laurahill4566]

Where we live you can barely even find a 1 bedroom condo for $275 000

[@rosiebaker4250]

Thank you Ramsey to your teaching love your show more blessings thank you Ramsey. amen

[@jaredkrause3332]

must've been nice buying a 30,000 house 😒

[@TR-cp1fo]

Jared Krause inflation homie.....do the math...that was the equivalent of 100k today

[@looseliquid2168]

Even taking inflation into account house prices have risen, also good luck finding a 100k house

[@rhapsodyman2000]

LooseLiquid Depends on the zip code. Just don’t live in the bigger cities.

[@bryans1000]

they are still around... just be prepared to drive 1hr for work... its a scarafice you make for a few years.

[@2inchfromtheground]

LooseLiquid you can find 70K houses all day in Socorro, NM

[@elinzmeyer3550]

A bastion of financial sanity! Listen to, and love Dave Ramsey!

[@jgatchaljgatchal8350]

Dave and Lil John should make an album.

[@antonbonin5003]

I never, and STILL don't understand leasing. When someone explained it to me I was like "So it's renting". Nooooo no no no! it's different from renting! "Yeah dude... This is just renting with extra steps".

[@MrOccyc]

That’s the way I see it. But unlike renting an apartment, there are huge penalties If you use the car too much.

[@underratedcritic1983]

Why anyone would lease a Lexus is beyond me.

[@katrinaumana2127]

Hey I'm Generation Xiennial as I was born in 1982. My student loans are paid off and well my husband and I own our house we have 92,232 left on the mortgage, and the house is worth about $240,000 (it was Apprassied for that amount in May 2017). We just paid off our car and plan on keeping it until it needs duck tape to be held together. My husband is a plumber and I get to stay at home with our 3 kids, we are saving money and plan on selling our DC metro area house and buy a house in cash in Georgia. Trade schools are where its at!

[@robertbrown7051]

This is funny and true. I have $180,000 in student loans, yet I drive a Volvo XC90 and have an $1,000 iPhone 10.

[@cgasucks]

Sorry to hear that ☹️.

[@armandol1826]

Robert Brown hahaha. You gotta love the true college experience

[@christopherheredia1217]

Swag

[@dtsect]

@@cgasucks he didnt say how much he makes. he could be making 300k :)

[@quarterlimit5838]

Gen X here: I could never understand leasing. Why would I pay to drive a vehicle over and over that they can take away, when I can pay cash and it’s mine forever??

[@MusicloverX88]

His office is so neat, I love it.

[@fpword1960]

Had a conversation with a man who recently lost his wife to cancer. He told me when they started their careers (1977) instead of driving nicer cars they decided to travel. She was given 6 months to live and they got to look at photos and talk about their adventures. Isn't that better than a car?

[@rebeccaellison9999]

My best friends drive a Jag and a BMW... both leasing... both their payments are at least $100 more than what my monthly payment was. I bought a Camry when I graduated from college 9 years ago ($400/mo @ 0% and haven’t had a payment in 5 years)... still driving old Chloe the Camry today! She’s about to cost me a bit due to an ABS issue but fixing it in the grand scheme will still save me thousands in car payments if I can get another 2 years or so out of her!

[@archangele1]

Actually leasing a car is not as stupid as you think. Since around 2008, reliability has dropped considerably with respect to automobiles while the cost of repairs has skyrocketed. A lot of these cars he mentioned include maintenance and are fully warrantied for the life of the lease. The days of the backyard mechanic are over. So, many young people would rather pay a lease payment each month and not have to worry about the next 'funny noise' coming from under the hood or the next little flashing light on the dash. Today, a flashing light on the dash is usually a multi hundred dollar issue and the 'funny noises' are generally multi thousand dollar surprises. The only catch with a lease is that you can't be a stupid person like in Florida where you drive the wheels off the car. There are mileage limits per year. The average car now costs close to $.50 a mile to drive when you factor in everything including depreciation, the true usable life of the car and replacement cost, insurance, maintenance and the like. If you drive 12K a year that factors into $500 a month for the real cost of car ownership. Yes, some people have 'the luck' and can pick up a $1,500 brindleshit and drive it for a year or two. But most of us would end up along side the road broke down on the way home from where we bought the brindleshit. We don't have time for that. We have jobs to get to and calling in with 'I can't get to work, my car broke down' is not going to cut it if we want to stay employed.

[@kingX777]

Priorities are all messed up. It’s all about the image of wealth when in reality they have $500 in there bank accounts.

[@PMV2012]

DAVE YOU ARE THE MAN.......Just started listen to you and the advise you give is invaluable....

[@dlakerguy]

Ever think that maybe both are true? Many students graduating are saddled with large debts. Many students graduating got scholarships or financial assistance, got no debt, got good jobs and now can afford to lease a nice car. Both stories can be true.

[@mac1bc]

exactly. dave doesn't know everyone's financial situation.

[@1ex1uger-prank-calls]

The money that they're wasting on leasing luxury cars would be better allocated toward paying off their debt. They can do what sensible people do and get a simple car instead of a luxury one if they expect anyone to believe they're 'debilitated.'

[@dlakerguy]

***** If they're leasing luxury cars, then yes, they're wasting money. But in many cases, leasing an affordable new car like a Honda or Chevy Cruze is much more affordable than buying one in the right circumstances. So again, it can be beneficial financially depending on the circumstances.

[@NicholasNormile]

You've still got a $150-$200/month car payment every month. That is $1,800-$2,400 a YEAR, so by the end of the lease, you've spent $5,400-$7,200 to essentially rent a car. Then you've got to turn around and do it over again....and again....and again....each time the lease runs out.

[@dlakerguy]

You do the same thing if you're financing the car except you're paying MORE every month and year.

[@FactsMatter999]

The “fake it till you make it” philosophy is in full swing

[@ikesteroma]

Someone should put together a compellation of Dave's rants.

[@davidgrowden769]

I have a student loan solution. (this is a millennial perspective). If you have outstanding interest pay it off and then double and triple pay the loans. You do not need a Mercedes or BMW when a Toyota or Honda will do. I don't have loans but my wife does and we get 0.00 invoices you keep triple paying and watch the loans decrease. For the price of that 1 Mercedes I ca. buy 2 new Honda CRV or in my case a new Honda crv and a pre-owned Ram 1500.

[@meinside99]

People are becoming more and more neurotic everyday. Unrealistic expectations of life is just the start of it. Come to Atlanta, its the most pretentious city in the eastern US. Too many ppl leasing entry-level luxury cars (Mercedes CLA looking at you) and a few grand in the bank and they have it in their heads that they are rich.

[@jblack4735]

meinside99 I completely agree. It's more about appearances than reality.

[@AmillionRays]

💯

[@ankitait2]

+Onward to Dystopia hmm.. I do see a lot of Porsche cars in Atlanta, but I always assumed luxury cars cannot be leased, could be wrong though.

[@xxxrsgangstaxxx]

Ankit Malik everything can be leased through the bank, lamborghinis can now be leased at 3500 a month with 10k down but the catch is you only get 5000 miles a year, aka weekened car.

[@edwind8440]

NYC Is the most pretentious city.

[@dogloverjb6873]

As a baby boomer myself...Baby boomers were the worst in playing "keeping up with the Jones". We were massive consumers and always wanted the bigger, better and best of everything! Look at the cars we still drive...massive trucks and SUV's. Some baby boomers still find the need to live in 10K+sq ft houses. Millennials will take better care of this planet, have fewer kids and have more compassion towards humanity as a whole. They know that "stuff" does not equal happiness. I think millennials get a bad rap. It's the baby boomers that really messed things up on this planet...only to leave the millennials a massive 4 trillion $$ national debt, and an over populated and polluted planet.

[@poopypantsdiggity7691]

I refuse to borrow money to support the banks.

[@johnsmith-vz4rh]

Do you realize what makes the economy work? The ability for banks to lend (credit). Yes they charge interest and make money when you need a business loan or a home loan but what is wrong with that? The economy needs banks.

[@skylinec83]

So you’re going to wait 10 years to save for a million dollar house that costs $200k today with only $40k down? Good luck with that.

[@skylinec83]

Snow 123 depends on the market. My 120k doubled in less than 4yrs.

[@skylinec83]

Snow 123 Atlanta. Inman Park.

[@vildachaya6462]

I’m a millennial and my first car was an Oldsmobile. I paid. $500 cash for it. Hard to believe people pay that amount monthly

[@vanessad.2625]

This is hilarious! I'm a millennial and I OWN my Lexus IS. Yeah it's 15 years old. But it's mine.

[@michaelfjmusic]

Plus you got that awesome 2JZ engine 😎

[@nathanielcarreon5634]

Financial stupidity never ends.

[@josev6660]

True. Im a millennial and I became an electrician which only took me 2 years And I'm making decent money. I have friends who went to 4 year universities and now they can't find jobs.

[@goitoutdoors]

Mario, you found the Peach.

[@sydneycarton928]

A majority of millenials are dumber than a bag of hammers. Glad to see you are in the minority.

[@lynksis12]

I'm a millennial and joined the Navy. I get to learn how to be an electrician for free through military training. Housing, insurance, school are all paid for.

[@e.honchoo9596]

lynksis12 thanks for your service and good luck in the future 👍

[@endoftheworld6293]

Sydney Carton No offense to the bag of hammers, at least they can get something done.

[@Only2GendersCommonSense]

Girlfriend: "I missed my period." Boyfriend: 3:02

[@hectorrodriguez8486]

Good one😂

[@bballbrc]

maybe people just dont care bout building wealth anymore

[@GadeaOne]

hmmmm you don't say...

[@bengaajayi5485]

Frank Assnot most people think it's a myth. Thinking the only way to get rich is if you win a lottery.

[@brandoncaldwell95]

Benga Ajayi its not that. People are just to busy trying to out do the other. For instance, my stepfather had to get a new truck for work. There was no if and or but about it. Week later my neighbor gone and bought him self a little bit bigger same truck when the one he had didnt have any issues. We all know he couldnt afford it. Just people love out doing one another burying themselves further into financial holes that they never see money.

[@joshmiller3673]

Snipe Stud00 What was the need for a NEW truck? a 5-8 year old truck will do the job just as well as a brand new one and won't have the insane depreciation of the first 2-3 years of ownership.

[@YeahShowtime]

Frank Assnot The Millennial Strat: 1. Borrow a ton of money and become staggeringly in debt 2. Have fun and do what you want. 3. Die without paying the debt. 4. Profit.

[@doublejake.4846]

Never married, no kids, no debt, college bachelors degree, work only nine months a year for $60,000.00 and can’t spend it because I’m on an oil rig in the Gulf of Mexico. 49 years old and two girlfriends, now that’s what I call freedom.

[@ADSaaron]

I went to college and I deserve a nice car!!!! It’s not my fault I can’t find a job in this economy!!! *-My generation*

[@johnmartin4641]

They’re partially right. If you went to college, then you should be able to afford a nice car. Anyone who went to college that can’t afford a nice car made a stupid choice in regards to their major/career. The problem is too many of them pick some ridiculous major that has no job prospects and they choose it without even bothering to research the pay and benefits that come with that major/career.

[@siciliangamer]

Dave Ramsey's baby boomer generation were the ones who taught millennials to just go to college because when they were younger it was still possible to work your way through but education prices have tripled since then. That generation literally ruined the economy with credit card debt and sub prime mortgages. Millenials don't have the luxury to run up credit cards because it is so difficult to even pay for education. I am a millennial with multiple combat tours and am completely debt free with multiple degrees but it was incredibly difficult because of the mess Dave's generation made. And he is a prime example with his own Bankruptcy.

[@mrcarterfx885]

I’m getting rid of “old” 2015 car for a 2021 “reliable” car 👀😂😂😂

[@unregistered_user]

Statistics can be used to tell whatever story you want them to tell. Best not to be outraged at things you dont fully understand.

[@Vydio]

Is there actually a market for leased Dodge Neons?

[@batrarohit1]

+Vydio In 1998

[@666dynomax]

is there a market for dodge neons? lol

[@goitoutdoors]

there was an SRT4...

[@CarolinaHustler]

"WHAT!" LOL ...."THATS STUPID"

[@mikerad7424]

I don't blame millennials, it the schools fault for failing to teach finance, economics, the constitution, and civics.

[@jimdandy8996]

That blame only goes so far. You should be able to understand money in - money out by the time you are a grown up. If not, then you shouldn't be allowed to vote or purchase alcohol.

[@ReceptiveKing93]

BMW payments “That is stupid on steroids” 🤣🤣

[@weenisw]

2:55 I like the part when he yells.

[@TheRamseyShow]

Thanks for subscribing weenisw! Welcome aboard!

[@TWDxKILL3R]

weenisw .... when he screams "Whaaaat!?" It's hilarious lol

[@JulioLopez-xz5kx]

Whut?

[@abowlofsalad8812]

Headphone users be ware.

[@DavidIstre]

This applies to the 29% of millennials who leased their vehicles. Not all millennials are living like that and they are facing serious problems. A government intervention may not be the solution, but our nation won't survive multiple generations of kids being suffocated under this kind of educational debt. We have to fix the education system so that we don't have this in the future.

[@kanitareed06]

It's very comical how many people grouped themselves into his statements and or took what he said personal lol. Mr Ramsey does make many points lol (reading comments)

[@marionavarro6085]

DAVE I LOVE YOU!! I share you with everyone who listens. YOU ROCK

[@karimbennett5651]

All the Millennials at my gym are driving brand new luxury cars that you, normally, would expect to see a 55 year old business owner sporting. They don't look too debilitated to me.

[@Billuhhanks]

their bank account is

[@rovan26]

There are highschool students in towns near me driving BMW, Lexus, Audi and even Land Rovers!!!!! The best part is I see them pulling out after school, head down texting and driving! SMH.

[@dillonh321]

Even kids in my high school (SO LIKE 15-18 YEAR OLDS) are leasing new cars like kias, civics and Toyotas. Most of them pay for it themselves with thier part time jobs instead of saving for college or putting it to a greater use. My car is $3k and it is good enough for 110% of high schoolers my smartish phone cost me $70 with a phone bill that is $15 a month and that is good enough for 99% of high school students.

[@jhin2040]

@@rovan26 So they are driving they're parents car?

[@rovan26]

@@jhin2040 I can only assume yes.

[@BeyondChange]

I'm a Millennial, My friends make fun of me for my Car Choices. I own a Mitsubishi Mirage 2015 with only 26,000 Kms not miles. I'm Happy cause i owe nothing on my car, and this car has brought me to where ever i wanted without any problems. Insurance is cheap and Gas is Cheap. How can you complain!

[@mathgasm8484]

I like saving my money. Someone asked why I didnt drive one when I can afford them. I said I rather have it invested.

[@youngerk420]

This should be taught in high school

[@HumphreyU]

I just leased a Honda Civic for $158 a month with $2,000 down. My 2004 Mazda had 226,000 miles, and was in need of a new water pump and engine rebuild, to the tune of $5,000 in parts alone. Leasing a brand new car with a warranty seemed like the better option in my situation.

[@SAViNGLiVE5]

Humphrey Uti or you could trade it in or sell it for whatever you can get and buy a cheap car that you own outright. You could have taken that 2000 bought a used civic and saved yourself 158 a month

[@vlKenzo]

Really not a bad decision. Everyone on these finance platforms talk way more conservatively than they are...

[@vlKenzo]

Humphrey Uti I'm actually just kidding, you could of bought a unicycle for $40 and not have had to spend any money on gas for the rest of your life

[@CraftingFFA]

superfuresh Mazda are reliable... 200k plus miles

[@ladycheyne5607]

vlKenzo You could buy a donkey over at the Trade Day for $100 where I live. I can't guarantee dependability 😁

[@ronborneo1975]

As a millennial, what he says is accurate. It's not even just about leasing bmws. It's everyday expenditures; constantly going out to expensive places, eating out, mindless shopping sprees. Seems like people nowadays just wants to have a good time with no thought of the consequences. Which isn't too bad, I mean seriously, who doesn't want to impress the guy next to you at the red light whom you would never see again with your leased BMW 328i?

[@richardburnett6781]

I'm Scottish, I paid cash for my current car and saved $7000. I think being Scottish helps with finances. :)

[@NorthEastTrailRunner]

All of the non-British people are thinking "Eh?" Lol.

[@sonofwilliamchris]

Okay here's an example of a Ford Focus VS Mercedes A Class leasing through a comparison site in the UK, to show why more people would go for the more prestigious badge. Ford Focus (New Lease) 125 ST Line £186.49 per month with £1,678.43 down on a 36 month contract with annual mileage of 8,000. Plus administration fee of £180. Average cost per month = £234.88 (includes tax @ 20%) Mercedes A Class A180 SE (New Lease) £186.11 per month with £1,716.23 down on a 36 month contract with annual mileage of 8,000. Plus administration fee of £250. Average cost per month = £232.47 (includes tax @ 20%). These results are just based on the two cheapest in their respective search fields of 36 months, with 8,000 miles per annual. So leasing in contest isn't always more depending on the badge/brand. The key is not to shop in the main store, but shop around. Because you wouldn't go to Apple for the best price on an iPhone, but not matter where you buy their latest model from, if it breaks in warranty you can still take it to them. I personally don't like leasing, but as with everything it depends on the situation you're in, maybe you like new cars every 3 years and only in warranty period, and make £100,000 and year and don't want to loss 60% every time you trade it in.

[@PrinceRafa2024]

i'm a millennial and I own my car and paid my college tuition in cold hard cash.

[@itsallgood5314]

Rafael Mendez you commuted? That's the only way I can see that happening for many people.

[@sydneycarton928]

Congratulations. Unfortunately, most Milennials don't like to work as hard as you probably had to. They want it all given to them.

[@sydneycarton928]

I took the bus and worked 32 hours a week when I went to university full time. Took me an extra term to get my degree, and paid off my loans in under 10 years. It CAN be done, with hard work.

[@420BudNuggets]

Must have a nice daddy

[@hitssquad]

2:40 No. Those are not the most popular leased cars among millennials. Those are merely the most popular leased *luxury* cars among millennials. Leased Scions are very popular among millennials.

[@MerkinMuffly]

Get off my lawn millennials.

[@opa1004]

MerkinMuffly lol

[@brianthomas3451]

I’m a millennial with zero debt. Not all of us are irresponsible, Dave.

[@stevenmintz1]

They run the numbers. You are in the minority.

[@OBZRV82]

I'm a 80's babie, an my student loan debt is $7,200. But I pay $80.00 a month. 😣smh..

[@cgasucks]

Typical Millennial.

[@Ian-of9oi]

I have not had a car loan in 10 years and I have some nice vehicles.I know people with new cars and they say they got a good deal.I ask how much and they don't know. They tell me the payments. Sometimes they don't even know how many months they will be paying.Sad.

[@nepatriots77]

"I didn't know where BMW lot was until I was 30." Well you did buy a super expensive Jaguar which your grandfather called as such a stupid thing to do....

[@verlaneugene8675]

exactly! LOOL

[@khale5357]

Went to college 15 years ago....and I used to feel so poor driving my '87 Supra around when everyone had a new BMW. Little did I know I just didn't take the extra loans everyone else did lol. I worked during college and am now wanting to find and old Supra to fix up :) . How time changes our perspective on things.

[@abowlofsalad8812]

I just walk everywhere. 1.) stay in shape 2.) very little to no money needed 3.) fresh air Try it, it’s good for you!

[@ballplaya96x67]

A bowl of salad I see what you are trying to say, but it’s simply not possible. Walking to work? To meet friends? To get food? Other necessities? It just wouldn’t work. Now I do see how walking to some places is logical when it’s walking distance, but speaking in a general sense, it’s not possible

[@juggsauce]

Did the article say the same people leasing cars are the ones with huge student loan debt or is he lumping 2 different studies into one generation?

[@stephanier1336]

Love dave rants!!

[@corianne2099]

Haha and he is saying everyone else is a drama queen?! Lol

[@SamusLink27]

Sensational news headlines do not speak to the growing "melodrama" or do not speak to everything being "a big deal." That's just news.... news is always like that.

[@t4705mb6]

I worked my way through college... twice... (UF and IU) for two degrees. (Actually 3 times but I'm not counting my MA psychiatric nursing degree when I was 20.) You MIGHT need mommy & daddy's money to go to an ivy league (or small "exclusive") school, but there are plenty of excellent AFFORDABLE colleges. Also, the 2nd and 3rd times I went to college I was not only working full time but I married, had a child and built our 1st home in Ormond Beach, FL. I didn't work at fast food either. I was payed more because I was first a dept. manager for a large chain and then a store manager at another. I also had substantial savings because I started working and SAVING when I was 9. I received NO money from friends or relatives, took out NO loans, had NO grants and NO scholarships. I did not live on campus and I did not spend time getting stoned, drunk or getting laid. I STUDIED...HARD! Sadly, because of the lifestyle I afforded my OWN children, even with the work ethic and values I did my best to instill in them, the US culture and mass media has trained them to FEEL... entitled. I grew up in a very rural area with a single parent and 7 siblings and we SCRAPED. Now I think it might have been better for my own children if they had experienced some of the hardships I had growing up. (BTW: I've paid cash for cars since 1980 using Charles Givens plan of buying a good very cheap car at "buy here pay here", banking what I WOULD have paid in car payments and running the car into the ground - 6 to 10 years. I bought my sweetie a new Avalon CASH when she graduated from college. And I also paid cash for those 4 years of her college.)

[@user-dr5lt5ik9w]

That's great! Now you should pack your bags and move to Canada.

[@koob9446]

I worked at Mercedes-Benz for 4 years and at least half of our sales were leases. Leasing is a legitimate and viable option for a slew of reasons. If you're trading your car in every 3-5 years anyway you should be leasing. If you plan to run your car into the ground (10+ years) then ya, buying is better. Something tells me the highly educated and successful people leasing our cars aren't idiots. Your car is not an investment, it is an expense.

[@realazduffman]

I used to work in car loans. It amazed me what people would spend on a payment. People making

[@laid07]

I am no lawyer, but I have I studied family law formally in a post secondary institution. Marriage is a terrible, terrible tradition. After learning what I have learned, the only way I will ever get married is once she signs a prenuptial. 50% of marriages end in divorce, but 100% of divorces begin with marriage.

[@TheAverageJoe2014]

Lol Dave you like to generalize an entire generation based on an article. Whether you like it or not the economy is inevitably going to either stagnate or crash partly due to my generations student loan problem. The baby boomers are dying and my generation are now in their 20s and 30s. Now the majority of the workforce in the next few years will be saddled by 30k plus student loans which prevents them from moving on up to the middle class which is good for the economy. Whether or not you like the idea that the majority of millinials have this enormous debt, it's still going to affect Everyone in the country immensely very soon. I'm just waiting for the stock market crash of 2016 because it's coming really soon.

[@AngeloSapienza]

AverageJoe2014 like it or not, Dave's right. If you've got 30K in student loans, you have no business leasing a brand new $30,000+ luxury vehicle. Millennials or Boomers, or anyone. This nation has bought the lie that a car payment is a normal part of life. People wouldn't have student loans for 20 plus years, if they woke up and changed their priorities. No one holds anyone at gunpoint and made them sign for the loan. It's a responsibility that you're responsible for, if you signed on for student loans. It's an ethics issue as much as it is a financial issue. We've bought the other lie for decades that it's okay to have student loans. No one teaches anyone any kind of accountability for them, or how to apply diligently for scholarships to offset costs, or how to find a school that is more financially feasible. I'm all for fixing the student loan crisis in America, but it's not going to get better by debt forgiveness. It does not change the habit that caused the problem and before you know it, we're right back in this spot.

[@TheAverageJoe2014]

Cahluvca I cant tell you what to invest in man but that sounds more promising than the stock market.

[@TheAverageJoe2014]

Angelo Sapienza We can keep blaming the students for their loans (which it obviously is partly their fault), however it doesn't change the fact that most people in my generation are saddled by this debt. America isn't going to have a growing economy when a large part of its workforce is saddled by crippling debt, and it is going to cause severe consequences in the future. Im not saying forgiving this debt is the answer but obviously just telling people not to get student loans to get a higher education is going to solve the problem.

[@sclf]

AverageJoe2014 He sure does cherry pick that.

[@steelwolf180]

Angelo Sapienza Yup i totally agree with you on this since the person who have the student loan debt really have no business in lending money to buy/lease a expensive car while your carry a bucket load of debt. Ps i'm millennial and i carry student loan debts but i do my best to reduce it, by picking a much cheaper alternative in choosing schools that's cheaper that allows me to repay my student back within 2 years. Besides a car in my country is just a 10 year toy that cost way more than $30,000 in US.

[@sheba1307]

I had a heart attack when Dave screamed out of no where