It's not that people don't think that way about cars, 90% of them just don't care as long as it elevates their social status.
@labornurse3 жыл бұрын
Yes. But actually only teenagers and single men should worry about getting clout. And I am being facetious when I say that. Reliability trumps prestige in my world.
@stevexspeed76495 ай бұрын
@@labornurseman hater…you feminist communist
@smileychessАй бұрын
@@labornurse - I'm a single man who drives a car that dries up all them ladies.
@JustinCase7803 жыл бұрын
This was worth tuning into just to hear Dave say "veehickle" Love that accent and the Papa Dave!!
@vanessagentner3 жыл бұрын
I grew up in Northern Ohio and I say it the same way lol my boyfriend from Buffalo thinks it’s so funny I say veehicle because it sounds like combining two words
@JustinCase7803 жыл бұрын
@@vanessagentner I love driving through there and hearing that accent. For someone also from NY it's a breath if fresh air.
@vanessagentner3 жыл бұрын
@@JustinCase780 It’s funny how people sound different from different areas. To me it just sounds normal. Only certain words or phrases he says makes him sound like he’s from NY. It always make me laugh because it sounds like he’s talking like a guy in the mafia
@JustinCase7803 жыл бұрын
@@vanessagentner Especially when he drops those f-bombs during a Bills fourth quarter. Seriously, some of the best of folks are from up there! Cheers.
@vanessagentner3 жыл бұрын
@@JustinCase780 I love it!
@karimbennett56513 жыл бұрын
I bought a Honda Civic for $800, put $300 into it for repairs, and drove it trouble free for two years. It can be done.
@TomTheEGamer5753 жыл бұрын
Honda Hyundai Kia Toyota all great cars 🤙🏾🤙🏾🤙🏾🤙🏾
@mathisnotforthefaintofheart3 жыл бұрын
But you have to admit, there is a great deal of luck associated with an $800 car. And I can imagine that a nurse working nightshifts wants to have a little more reliable transportation than taking chances on a $1000 vehicle, right?
@deanalbertson72033 жыл бұрын
A reliable car is valuable because it gets you to work on time everyday.
@ian-hm6cx3 жыл бұрын
a 2004 camry with 150k miles on it does just that and will continue to until the next ice age
@deanalbertson72033 жыл бұрын
@@ian-hm6cx Really? Will you personally guarantee that a 204 Camry will get me to work every day, without a problem? Can you guarantee that a previous owner did not abuse the car in some way?
@AsadoMao3 жыл бұрын
@@deanalbertson7203 no guarantee that a brand new Benz will get you to work on time every day no problem either
@deanalbertson72033 жыл бұрын
@@AsadoMao It's more likely that a new car will get you to work every day, than a junker that you don't really know the history of. Getting to work is what pays the bills.
@colinfiggins33723 жыл бұрын
I'd pick my +200k mile 20 year old subaru over any most new cars. Plus you actually earn the vehicle by doing the maintenance yourself, rather than just dumping cash into payments each month.
@aquapointbeshoy27363 жыл бұрын
“Beans and rice, rice and beans” brutal, but loving! Thanks uncle Dave!
@mgcolom3 жыл бұрын
With that formula people could save even more. Imagine the money people spend in restaurants. Most of the times it’s almost a third to almost half of their income.
@Jessica-tj6ug3 жыл бұрын
I paid my car off 25 months early, thanks to Dave!! The baby steps work...keep going guys!!
@frankish53143 жыл бұрын
Even worse.. They say "I got a raise I can afford to finance a fancier car".. Absolutely madness!
@aolvaar87923 жыл бұрын
I put 5K miles/year on my truck, that's 200K miles in 40 years Why would you buy a cheap POS and then drive it for 40-60 years?
@frankish53143 жыл бұрын
@@aolvaar8792 No but you can buy a cheap POS with cash then save up to pay for your next vehicle with cash. With the POS car hopefully it frees up other income to get out of debt or even invest it to make money for your future.
@aolvaar87923 жыл бұрын
@@frankish5314 That's REBUYing, buy the car you love and never buy another. Remember 5K miles /year. I don't invest, $50K in savings, $10K in checking and $100K/yr pension and spend, otherwise it builds up.
@frankish53143 жыл бұрын
@@aolvaar8792 The $100k/year in pension puts you in a very unusual and fortunate position. We have about $40k in pensions plus $3M in investments, plus a paid off house. We are in the process of buying our first new car.. For cash of course..:). Most people are not in our rarified financial position however. I.e don't have pensions and have to provide for their futures by saving/investing. In that case, buying a POS car makes a lot more sense.
@ogie51943 жыл бұрын
That was me, back in 2012.
@dr.bradshaw3 жыл бұрын
I always buy my cars around the 7k range. Do my research, keep them nice and they hardly drop in value from there.
@DreamHawkers3 жыл бұрын
Same , good car under 150k miles typically around 140k with good reliability and low maintenance at least for a high mileage car and it basically doesn't depreciate anymore
@dexterm12853 жыл бұрын
That's an option....typically as of late do $13k range...we drive alot so gets a car with 80k miles so lots of life left. Keep till around low 200s.
@DreamHawkers3 жыл бұрын
@@dexterm1285 yeah I agree there as well I just drive them from 130k to 300k
@savageaf6023Ай бұрын
Decent and somewhat nice cars can be found if you look hard enough. Some mid 2000 Lexus’s and acuras go for under 10k and both got the Toyota and Honda reliability.
@missaida443 жыл бұрын
Sometimes a used car winds up costing you more due to needed repairs
@larrybud3 жыл бұрын
More than what, a new car? lol! Hardly.
@heismanhighlights51233 жыл бұрын
Sounds like your just trying to justify buying things you can’t afford
@johnSmith-uz8nl3 жыл бұрын
No one said get a used FORD.
@depressedsauce28983 жыл бұрын
Especially sports cars
@bebop5043 жыл бұрын
That's exactly what happened to me. I would have been better off with a small car payment than putting $400 into it for repairs every few months.
@AH-up8zh3 жыл бұрын
2019 Ford super duty lariat paid 65k brand new cash is worth 71k with 29k miles now... 🤔
@johndone80453 жыл бұрын
Sell it and buy another one later:)
@user-tb7rn1il3q3 жыл бұрын
@@johndone8045 It will be worth 30k a couple years from now once the shortage is over. Sell now.
@machintelligence3 жыл бұрын
Strange times we live in. But be aware that if you are using that truck for business, you will owe capital gains tax on the profit.
@larrybud3 жыл бұрын
@@machintelligence It's not cap gains unless it's sold.
@machintelligence3 жыл бұрын
@@larrybud True, you do not have realized capital gains unless you sell it.
@kjthomas45533 жыл бұрын
Never finance a car again
@AH-up8zh3 жыл бұрын
Good luck selling and trying to re buy any used car right now... Keep it as you won't get ahead
@frankish53143 жыл бұрын
Actually we are buying a brand new car right now mainly because there are no decent used cars available.. AT least not for cheap.
@odnewdylee3 жыл бұрын
Cars are the only time outside of homes where I hear him okay with a loan, the 2k or 3k extra on personal loan for another car. Love it and I don't know why but it shows how human he is.
@bigd90403 жыл бұрын
Cause your trading a higher debt for a lower debt.
@superblump873 жыл бұрын
That was just in this scenario where it reduces his debt.
@odnewdylee3 жыл бұрын
I am aware that it is situational. The fact that it is situational is what makes his advice golden.
@odnewdylee3 жыл бұрын
@@tetedur377 Great returns you're doing awesome. You'd be earning even more if you could invest that truck note money. I still currently hold a small amount of debt on an income property, I've played the cost/benefit game before. I just like the F U freedom of no debt at all. You're getting great returns though good job!
@mrgeorgeburdell2 жыл бұрын
Dave is never okay with getting a car loan. He only agrees with putting up with them if you call him after the fact of getting one and say you can get it paid off in a very short period of time.
@RJRussoVids3 жыл бұрын
I would not be shocked if Dave had a pile of old TVs in his yard. 😂
@xxxBradTxxx3 жыл бұрын
Imagine the mercury leaching into the yard.
@XCVi_MAC3 жыл бұрын
I’ll honestly never buy a car out of the dealership again. It’s nice at first, but as soon as you start making those payments 🤣 most of my buddy’s all finance new vehicles for social status.
@plants4thewin3 жыл бұрын
I like Christy...shes turning into one of my favorites. She will never be a Chris...but I like her!
@davidshaban85543 жыл бұрын
She’s better than Chris
@plants4thewin3 жыл бұрын
@@davidshaban8554 nope
@olivia1064 Жыл бұрын
I was so dumb when I financed my car over two years ago. I've ended up paying just over 8,000 for a car that was valued at 4,999. I didn't even think about the interest, I only saw the nice new car. Safe to say I'm keeping the car once it's paid off! It's a little ford fiesta and I can't part with it, it holds so many memories with my son. Our first drive out when he was a newborn, so many adventures we've had together.
@michaeldwyer9772 ай бұрын
Well there are worse things in life that overpaying by 3000
@bettysmith45273 жыл бұрын
Ok sir, if you take out "extra"money as a loan to pay off the difference you owe on the car you want to sell, that's not paying for another car with cash.
@MillionaireMindsetClub3 жыл бұрын
Car are the most expensive thing we buy that go down in value. Couldn't have said it better.
@alexfonseca20633 жыл бұрын
Isn’t it food?
@Lumpia_In_Texas3 жыл бұрын
@@alexfonseca2063 definitely food. Especially restaurant food.
@alexfonseca20633 жыл бұрын
As t
@dasheffield55963 жыл бұрын
Why don’t you ask the caller? What kind of a car the person have or purchased ?😳
@bettysmith45273 жыл бұрын
so he gets an. idea of how upside down they are!
@nmarkert013 жыл бұрын
Everyone I know looks at cars as the biggest depreciating asset you buy 🤷🏻♂️. And I was a car salesman. Customers even said it regularly quite often haha.
@johnyang14203 жыл бұрын
My 1991 Acura NSX that I bought in 2008 has doubled in value, but that is rare. I drive my investment and it keeps going up in value.
@schadlarry3 жыл бұрын
As long as you can put away 15% or more does it really matter how you spend that money? Make a budget and stick to it. Some people like nice cars others like eating out all the time and both aren't very smart if wealth building is your only objective. This is all Dave preaches.
@mikeshaw46103 жыл бұрын
I agree even after the first million buying a new expensive car is still not smart. Most of the first million should be targeted for retirement and therefore not spendable.
@cabayern94163 жыл бұрын
I don't purchase a car as an investment - it is my transportation. Buy new and keep for ten plus years. Maintain it excellently. Not buying someone else's abuse.
@davidjaramillo85133 жыл бұрын
I see your point. But there’s plenty of well maintained used cars out there. I bought my 2000 Lexus ES 300 from a nice man in a good neighborhood; had my mechanic check it out to be sure it was fine. Still have her after 10 years!
@blackworldtraveler37113 жыл бұрын
Never understood the investment part with a car. I certainly didn't depend on my car to fund my retirement.
@bradgingrich45052 жыл бұрын
Have bought two new cars in my life, first one was a 1976 Dodge Dart for $5700...POS...second one was a 2003 Ford Ranger for $18000 still own and drive it daily......I'm 64 with a 3.5 million dollar net worth....Have my third new on order...it's only 30k ...I'll pay cash for it.
@j.m0ney1333 жыл бұрын
Cars are the worst asset we own. Second most expensive asset besides a home and they go down in value like a rock.
@Lumpia_In_Texas3 жыл бұрын
Mine went up 30% this year.
@j.m0ney1333 жыл бұрын
@@Lumpia_In_Texas what kind of car?
@daltonbrasier54913 жыл бұрын
@@j.m0ney133 i dont think they are going to tell you lol
@markg9993 жыл бұрын
@@Lumpia_In_Texas temporarily...these used prices will plummet likely next year
@5points70193 жыл бұрын
Unless its in the classic category...
@JamesSmith-cm7sg3 жыл бұрын
Maybe it's just me but when I was reckless with money, buying an expensive car was always about ego. I wanted to be looked at like I was rich. That's why people will lease a Mercedes for 1k a month despite renting.
@Argedis3 жыл бұрын
Keeping up with the Joneses
@dexterm12853 жыл бұрын
A large portion of people in BMWs and Mercedes....are living paycheck to paycheck looking the successful part but really they arent.
@LG123ABC3 жыл бұрын
Buying cars to impress people they don't like with money they don't have.
@ImDahDude3 жыл бұрын
Trucks do not lose that much value that quick. Idk what he’s talking about.
@mistercarroll24743 жыл бұрын
My biggest income destroyer is rent and health care insurance.
@shola79873 жыл бұрын
hello!
@mistercarroll24743 жыл бұрын
@@shola7987 hello
@shola79873 жыл бұрын
@@mistercarroll2474 i meant hello as dam right! lol
@mistercarroll24743 жыл бұрын
@@shola7987 ok I agree 100%
@00Noontide3 жыл бұрын
Sell the car, sell the wife, sell the fridge. Beans and rice, rice and beans baby!
@RickyandGandi2 жыл бұрын
😂🤣😂
@stevexspeed76493 жыл бұрын
Chelsea is right! I like how she puts things
@TheZeppelin143 жыл бұрын
Dave is wrong when he says everything with wheels and motors goes down because old muscle cars increase in value all the time, now with new cars he is right they do go down.
@LittleMopeHead3 жыл бұрын
I wish I am where I am now 10 years ago. I'd get the first generation NSX when its value for a decent one was around $30-40k.
@Marco-ki2jr8 ай бұрын
Huge risk though 😂 some cars and some watches do too. Very few people make investments out of those. Risk is too high and market too fickle.
@actZR9007 ай бұрын
Those cars still depreciated though until they became classic. Its all a cycle.
@TheZeppelin147 ай бұрын
@@actZR900 There are 1000's of cars that are considered classic that do not increase in value.
@actZR9007 ай бұрын
@TheZeppelin14 you said muscle cars, therefore i was talking about muscle cars... even a 67 mustang, 69 camaro and 70 charger all depreciated before they appreciated as desire increased. I was not referring to a 4 door catalina.
@bettysmith45273 жыл бұрын
I disagree about the car destroying wealth. If I don't have a reliable ride to get to work to make money, then that will destroy my wealth.
@MoonMoon-fx1op3 жыл бұрын
A car is a great investment, but breaking the bank for it does destroy your wealth.
@Argedis3 жыл бұрын
Normally, a 5yr old car can be bought for half the price of a new one. That car will still be reliable for many, many years. You can be the person that turns 30k into 15k or the person that takes advantage of the depreciation and buys it at 15k.
@jaimevillalobos67443 жыл бұрын
We live like no one else, so later we can live and collect things that go "budden budden" like no one else.
@willsims54772 ай бұрын
I will never finance another car. It’s a waste of money!
@nio7313 жыл бұрын
6:13 she NAILED it
@WolfManJammer4 ай бұрын
I have 14k left on a 2018 GMC Sierra and I’m wondering if I should just get rid of it, even at a potential loss, or finish paying it off and drive it as long as possible
@adolpholiverbush58673 жыл бұрын
Would the car being a Tesla justify going above that 50% rule a bit? The vehicle doesn't devalue nearly as fast as normal cars and it saves you money every year you own it on fuel and maintenance costs.
@mxerb59123 жыл бұрын
They plummet in value. A 6 figure model s can be bought for 20k. Not to mention the tech is outdated by the second
@johnSmith-uz8nl3 жыл бұрын
Yes and no. Yes, you can buy a Tesla and try to justify it BUT if you want to get RICH I consider it a bad idea. We are considering an electric SUV in a year or two but I personally can not justify it. It would be for my wife and she has a FREE charging station at work that she can use daily... but again, I just can not justify it. The SUV I am thinking of is the Kia 2022 EV6 and it will sell for about $60K... and I think MA offers a $2.5K tax rebate OR a 2023 or 2024 Subaru Outback Limited (cost will be around $36K). I can tell you everyone who owns a Tesla LOVES IT, but I can not justify it as of yet. You do know that Tesla is working on a $25K electric car?
@dogan60703 жыл бұрын
He's already in the hole he goes out and buys another debt. Real smooth!.
@thetruth56353 жыл бұрын
Never havr car payments thank God I never did, used cars are amazing and your net work flys up
@triple_gem_shining3 жыл бұрын
I live near NC And it's so funny to hear the calls from there. LOL
@RickyandGandi2 жыл бұрын
Thank God for this chip shortage. The value of my car has gone up and I can get out of this car I have.
@jazmineramos82002 жыл бұрын
Yes ! I’m getting rid of my 2020 civic lol I’m over those pmts.
@havuckofp3 жыл бұрын
Trucks don't go down in value that fast Dave
@appleztooranges5 ай бұрын
Bought a $52,800 truck and make over 6 figures. It’s a Tacoma. No regrets 😂
@MichaelGonzalez2133 жыл бұрын
Hey Dave 😁 love your video brother
@orlandow17233 жыл бұрын
Those dang Dodge Chargers….
@chinngis838 ай бұрын
As a general rule, it's a bad idea to accrue debt on a depreciating asset.
@collinparsons336311 ай бұрын
Not having more than half your annual income tied up in cars is a good rule to follow. Saying to never buy a new car unless your net worth is over a million dollars is stupid. I'm all for keeping cars for 10+ years, as you lose money every time you trade cars. Now, 2-3 year old used cars are only a couple thousand less than a new one, if at all. It used to be that a 3 year old car was 40% less than a new one. If you're buying a car that you plan on keeping for a long time, just get a new one that doesn't cost more than half your annual income, and don't borrow excessive amounts of money at a high interest rate to do it.
@austinoleary7132 жыл бұрын
Used cars have gone up in value now
@KishJohnson Жыл бұрын
Cars are the most expensive things we buy that depreciates in value. In minutes it drops to 50% and drastically affects your wealth.
@MrCN1738 ай бұрын
i'm not sure that you can go buy two year old car for 50% of the price. used cars are almost as expensive
@annmelendez18983 жыл бұрын
he forgot to the cost of insurance for those cars and etc.
@ELmx4793 жыл бұрын
Except a Raptor.
@davidhealdjr.5133 жыл бұрын
I paid $1500 for my truck, and have been offered $2500 for it.
@aquapointbeshoy27363 жыл бұрын
What type of truck is it?
@blackworldtraveler37113 жыл бұрын
Don't understand why that would even matter when you need transportation anyway.
@mateus86762 жыл бұрын
Thank the shortage lol
@cabayern94163 жыл бұрын
No woman. I don't think of it going down in value. I use it for transportation and keep for many, many years. She appears to have no independent thoughts... Just piggybacks off Dave.
@Argedis3 жыл бұрын
You missed the point. Normally, you can buy a 5yr old car for half the price of new and still drive it for many, many years. There is a temporary exception to this rule due to the chip shortage
@cabayern94163 жыл бұрын
@@Argedis tried that before and was a huge mistake. Now I buy a new, quality vehicle and keep for over 10 years!
@Amor_Fati_3 жыл бұрын
God is so Good. Jesus is King
@universalservicetechust35783 жыл бұрын
Is God good because Jesus is KinG or Jesus King because God is GOOD 😊
@5points70193 жыл бұрын
@@universalservicetechust3578God is good Period. Jesus is King Period.
@jazzmondjackson1953 жыл бұрын
Amen 🙏🏾
@MariahLove3 жыл бұрын
I have to get rid of my car i can’t we just can’t continue to pay on it
@kjthomas45533 жыл бұрын
Same
@waterbottle34823 жыл бұрын
I’m selling mine tomorrow , this run on used vehicles enables me to sell it for more than I owe on it so as much as I like it , it’s gone . Don’t worry you won’t miss the payment .
@todd24563 жыл бұрын
I wonder what Dave would say if someone said, Hey Dave, what's up?
@LittleMopeHead3 жыл бұрын
"Better than I deserve" of course.
@tonybarr5630 Жыл бұрын
"No one thinks about that." FALSE. A lot of people think about that. Most people don't, but just hate absolute statements that are not absolute by advisors.
@wilsono10503 жыл бұрын
PRIVATE SALE IS THE WAY TO GO. YOU GET ALOT MORE
@queen.kristal83953 жыл бұрын
since he isn't married and do not think he has any kids he has more free range on what he wants to do with the car.
@musicman1eanda3 жыл бұрын
I don't understand why homes don't go down in value. A 30 year old home has endured 30 more years of problems and degradation that an identical new home does not have. Homes logically speaking should go down in value. I guess they don't because if they did, nobody would be able to get one, and so we artificially make the value go up?
@machintelligence3 жыл бұрын
Homes are not just buildings. The lot that they sit upon generally does not depreciate. Buildings do require maintenance and after 30 years the roof probably has been replaced and the water heater several times. While some folks just live in houses, others remodel them on a regular basis. As a contractor I have remodeled the kitchen for one client twice -- once just after they bought the house and again 26 years later when they were getting ready to sell it. Aside from painting, the walls and doors (and possibly windows -- although some will have been upgraded for energy savings) require nothing more than occasional painting. It is generally not quite the same house after 30 years. If you want depreciation, look at mobile homes.
@AarTinOo3 жыл бұрын
The land is what appreciates. The building depreciates.
@musicman1eanda3 жыл бұрын
@@AarTinOo So some homes actually go down in value even if they're in good condition, if the area they're in gradually gets less popular? Correct?
@labornurse3 жыл бұрын
@@musicman1eanda yes. Property values can decrease in certain areas of the country. Hence location, location.
@AarTinOo3 жыл бұрын
@@musicman1eanda Over the long term real estate generally appreciates in value. If your home has a land component, then it should not lose value over the long term.
@nataliaedge3 жыл бұрын
I buy a new car and make my car payments with the money I save from not wasting on going out to eat and morning Starbucks drinks! Definitely a win situation!
@sharikagrant6379 Жыл бұрын
I’m working on this because I know I’m paying for a luxury vehicle and not my CH-R, going to Starbucks and eating out daily 😢.
@carloscastanyeda2 жыл бұрын
My car went up in value. Bought it for 10000 sold it at 15000
@6.2ls333 жыл бұрын
What are you going to do ? Take all that money to the grave or get what you want. its even more of a waste if you don't even like it.
@mateus86762 жыл бұрын
You are going to be broke for the rest of your life can already tell
@1stsummernites3 жыл бұрын
Sell.
@MurphyOCP-0012 жыл бұрын
While we destroy our vehicles they allow us to go to work and make an income x
@peterisgoogling99983 жыл бұрын
the biggest expenses for regular people in this country are medical bills...
@daltonbrasier54913 жыл бұрын
He is talking about assets.
@peterisgoogling99983 жыл бұрын
@@daltonbrasier5491 and I am talking about life
@daltonbrasier54913 жыл бұрын
@@peterisgoogling9998 Okay lol but thats still irrelevant to what dave is talking about.
@aolvaar87923 жыл бұрын
My former employer (I'm Retired) pays $1500/mo, I pay $500/mo = $2000/mo premium Cadillac level, almost concierge for lifetime family healthcare My wife went to the hospital $450K, Daughter broke her leg $127K $300 max out of pocket for any event Why is a medical bill so large? Because people do not want to spend $2000/mo for insurance or unwilling to take a cut in pay so the employer pays
@blackworldtraveler37113 жыл бұрын
Medical is my least expense. Don't think I spent more than $4k out of pocket in 30 years. Actually I don't have much expenses now. I'm remodeling next year but have three times the cash and planned for it. Even my trips to Alaska in RV, and flights to Hawaii,and Europe this year cost less than $500.
@rmpeckels Жыл бұрын
Hahaha I bought a 69 f100 for 2k in 2016 and now it's worth 8k... tell how vehicle loose their value. Think for yourself
@aolvaar87923 жыл бұрын
a two year old vehicle now half its value, what car? Depreciation means nothing, if you never sell. As I look at a 1972 Chevy pickup, that turns 50 next year. It's REBUYing, that's a problem. Dave's entire premise, is that you will replace the vehicle on a regular basis and that money can not be used for wealth building. buy a $10K car cash or a $100K cash AND never buy another car. Depreciation means nothing, if you never sell or buy.
@philipm50433 жыл бұрын
Truth is you may have to sell it at some point. Eventually, the repairs would cost you more than buying another used vehicle.
@mateus86762 жыл бұрын
You're going to drive one car forever? Ok buddy😂
@aolvaar87922 жыл бұрын
@@mateus8676 All my life, Why not?
@LittleMopeHead3 жыл бұрын
This dude is probably underpaid and needs a $5k car.
@enricopallazzo32443 жыл бұрын
Car, should I sell you?
@catlady27953 жыл бұрын
Who needs cars? Take a bus 🚌........jk.
@bebop5043 жыл бұрын
UMM. You do understand that not every area has bus routes that go directly to everyone's jobs, right?