Should I Trade Down In Car?

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[@LaurenTicole]

I sold my 2019 camaro and bought a 2004 honda accord cash!! I am honestly now the happiest I have ever been!! It’s nothing like no car payment!!! Thankyou Dave Ramsey!!!! My honda may be old but it is a really good dependable car. Im now 26k debt lowered !

[@christiangarcia01]

Where did you post your car to sell? im currently upside down on mine and i want to sell it and get rid of the debt. Having trouble finding a buyer.

[@LaurenTicole]

@@christiangarcia01 I actually sold it back to the dealership, i was upside down 3k so i paid the 3k towards it and sold the car!!! I had only had it 7 months! Private sellers are too much of a headache in my opinion.

[@rodzillarox4882]

@@LaurenTicole thanks! I am going thru same thing. I bought too much car and want to scale down too. I will see what my dealer says

[@aarteaga2014]

I also have no money to put down on another car

[@juliorobles5696]

Lemme ask you a question , now what you did is that considered voluntary surrender or no?

[@KeepRolling1000]

4:34, "You can't act like you're rich when you're not. It'll cost you to be broke your whole life." Best saying ever.

[@joshf-w9602]

$28k driving a Mercedes, here I am making $102k driving a corolla

[@kzamora2548]

I got a Corolla and it's awesome. I'm gonna drive till it needs wooden wheels lol

[@Daniel-tv9tb]

Good for you. I do the same.

[@daltongorman6452]

Can I have a job

[@kashfortheking]

I got a ‘15 Focus for $14k (CPO). Low maintenance, good payments (pre-Ramsey), and I’m making enough to pay it off when I choose to.

[@paperremix]

I'm thinking about getting a Honda Civic/Accord or Toyota Corolla in the future. I've been saving and been so intense, rather walk 30 minutes to work/stores than purchase. Haha

[@maryarnold7562]

"Mercedes are endless money pits" Scotty Kilmer.

[@bwoody6370]

*install laughing horse here*

[@waterbottle4782]

Rev up your engines......!

[@musheer5711]

But from my experience and just do research on google, mercedes e class with v6 engine is reliable and not a money pit, in his video he was speaking about the mercedes cls which is more complicated than e class.

[@amanhasnoname1510]

28k a year and driving a Mercedes? Sounds about right.

[@user-eu2me4bp7j]

lol

[@kellmarktv]

🤣🤣🤣🤣

[@jayj4439]

My wallet: Mercedes?? What's that? Lol. Me: Nothing you have to worry about. Lol.

[@dariusfitnesspro4163]

Dave, you are awesome man! You just opened up this woman’s eyes by telling her in 10 years she could be broke with an old Mercedes benz because that’s where most of her money will be going if she keeps that car, or she could be making +$20k more than she makes now and have money in the bank. I could hear the change in her voice, she actually envisioned it and saw herself in that position!

[@landlubber42069]

LOL when Dave hits that button to mute the caller

[@henriquealves7514]

Americans are so lucky to have such a reliable cars as Corolla and Honda Civic for such a low price. Here in Brazil only rich people can afford these cars

[@danie4819]

Ooo dang I guess I'll be rich there. I own a Corolla

[@jasperdilincoln2341]

Shoot I make $54k a year and I still went out a got a preowned Camry...lol

[@jakefranchise7463]

I’m driving a 2018 Honda HRV. It’s got heated seats and all wheel drive and good gas mileage, no issues with it whatsoever and it’s paid off.

[@iseepandas1]

Here I am making 130k with no debt, no rent, and bills driving a 1k Toyota.. I am 26 years old

[@mattmorris2141]

The tone on this is perfect. I love that he says, it's not that you don't deserve it. It's just not aligning with your goals. In another video, he said glibly, "If you can't afford it, you don't deserve it." I hope he was just in a bad mood, because great people sometimes deserve a vacation but can't get one in because of time and money constraints.

[@calebniederhofer678]

Mercedes , BMW resell value is among the worst , it’s that’s bad. I would tell people all day long , get a Lexus it will hold so much more value in the long run.

[@FirstNameLastName-hz4kv]

The Lexus will also be more reliable over time.

[@micheleD498]

Love my 2017 Lexus RC350 paid off❤

[@watsonanthony8438]

That’s stereotype. It depends on the exact model. AMG and BMW M actually holds their value well. Heck some go up in value. Hint M5 CS and AMG GT

[@ErrorPagenotFound-ig1cy]

Ballin’ on a budget at $28K a year I’m pretty sure she can’t afford a full tank with that car note..

[@Pharaoh_The_Great]

When he hit that mute button it became peaceful toward the end... 😌

[@Sig721Tau]

Yeah, it was kinda rude and arrogant of him to do so. He's egocentric in that he thinks his advice is worth its weight in gold. His shiw asks people to phone in and discuss their financial problems with him.

[@sandersballistics]

@@Sig721Tau She's broke! She asked the question and was answering it!! Normally I think he cuts em off before they have a chance to start talking.

[@halfmoonyogi4997]

I'm about to sell a 2017 jeep renegade that is stealing all my extra cash each month with a 320 dollar car payment plus $282 for insurance. I am buying a coworkers older car for 3k and my insurance is dropping to under 100 bucks! I live the rest of my life simply, not focusing too much on ego or appearance. But in 2019 I moved out of state and stayed with my brother briefly. I was driving a 2001 Honda Accord that was rusted out and ready to be replaced. He said I looked like a drug addict in that car, and that nobody would want to hire me or talk to me in that car 😔 I took it to heart, and didn't know how to find another used car that was decent, so I went and got a car payment. That was a huge mistake, because I later totalled it and without any savings, had to get another loan after that. I reflected on this recently and realized this daily decision to keep this car is out of fear and shame, no out of self love, simplicity and discipline, which are the values I live by in the rest of my life. I am so grateful for this opportunity to live my life more authentically 💜

[@sidharthchand8072]

I think that she just needs to pay off the car asap 9k is not that crazy on a car note

[@brandonmc01]

sidharth chand It is when you make 28k a year....

[@bobbyraejohnson]

@@brandonmc01 not really that's actually not bad.

[@ocky88]

Right. It is hard to find a solid car that you can drive for years that won't be a money pit for much less than 9k. Perhaps 6k. But is that really worth the trade down? Idk.

[@dericanslum1696]

...y'all think a 15 year old Mercedes is cheaper to own than...I don't know...just about anything else...?...

[@nicolegraham1492]

The repairs and maintenance are expensive on a luxury car. Far too much for her to deal with her income.

[@biskit7]

2010 C 300 is 9k to 11k, she owes 10k... need to sell it asap..

[@jeffkline9191]

Car rich, money poor.

[@Sig721Tau]

Dave didn't address the issue like how the title suggested. So, is it a good idea to "downgrade" to a less expensive car in order to get out of debt?

[@sydney45]

Yes, if you can.

[@RunPlayHaveFun]

Everyone is saying sell it, but how do you sell a car that is financed for more than the one you want to get (less expensive car). How do you trade down when your car is financed? No one ever explains that.

[@watsonanthony8438]

The same way you sell a home. Lol😊

[@robertbeckham3091]

I have a really nice apartment in a very exclusive neighborhood, I owned my sports car and only had to pay for insurance, but the car was preventing me from doing DoorDash and earning money, so I had to suck it up and trade down to still 40,000 car (Nissan Altima Sr turbo) that I don’t owe one penny on, the insurance is cheaper, and I can make 300 each day with it. Sometimes you have to move on in life, let things go. That being said when it was financed the car payments were 1,400 bucks each month. That’s exactly how much my rent it.

[@Dflonn]

Credit union trying to rip her off.

[@PTD01]

I needed this vid today! Looking to downsize from a jag e pace to something more economical and sensible. It’s hard to get them worked on in good time at reasonable prices. Feeling that conflict, but this guys is 100% right! So glad I came across this today!

[@keyroncampbell]

that's how people in Atlanta do....

[@adhdmuseum9631]

Truth.

[@orangeblock3792]

keyron Campbell AHAHAHAHA AHAHAHAHA AHAHAHAHA AHAHAHAHA... dude, I was thinking the EXACT same thing!!!

[@keyroncampbell]

Jata Johnson and most of them broke... Most prefer to own a luxury car than a house... Whenever the house do come and they can't afford the mortgage, they'll destroy the house before they move.

[@keyroncampbell]

***** yep but that's the mind set of people that live in Atlanta... Not just Atlanta but I think a lot of other places.. I gotta pay my house off soon, or pay more on the monthly payments.

[@guccithofgangeth7679]

You can sleep in a car but you can't race a house 😬

[@Daniel-tv9tb]

Sell it, buy a civic-corolla-elantra-forte.

[@jameslanders4660]

How about if I had a low mileage paid-for truck, worth about 35k, and was considering selling it, stashing 25k in the bank to help pay for a house and getting a smaller reliable rig to haul the family around. Seem reasonable? Only concern is not having the ability to move large items or haul dirtbikes... Not in debt, just wondering if having all that money tied up in a truck is worth it when I have a growing family and a need for a larger house for the kids...

[@SexyBulldozerMan]

not sure if i should sell my 2014 sienna for $17800 and buy a 2010 mazda 3 for about $6000 i owe $3000 on the sienna and its $150 a month payments.

[@kevinoverholtzer3126]

she owes 9500 on a 17k object she could sell it and buy a car with the difference. Or she could just keep paying it off however I don't see how she was doing that on 28,000 a year she must have been just making car payments.

[@ccvee7287]

Easy when you dupe the entire welfare system. It's the only way.

[@dosepulveda1]

C&C Vee I forgot about that...😩

[@jovannimartinez8405]

I owe 13.5K on my 2017 Nissan Sentra. Credit union said I can get 8-11k for it. I was thinking pay it down to where it’s equal and save up an additionally 3000 and get an older Toyota Corolla? I make 24000 gross and it’s my only debt so I’m trying to get rid of it ASAP so I can save and buy a home. I could probably pay it to it’s value (9500) by the end of the year (9 months). I know I over paid for the vehicle but I’m hesitant to get of it because Im not sure if I should get a cheap car and risk mechanical issues or pay it off in 2-3 years and have a car that I won’t have to worry about not starting up one morning...

[@tyson1chicken]

Also if your gross income is 24k, you should invest in yourself first in the form of skills/education to increase your income before buying a home. Then buy a house the right way which is on a plot of land.

[@arnphawk]

the dream car......foolish

[@jayj4439]

My wallet: Mercedes?? What's that? Lol. Me: Nothing you have to worry about. Lol.

[@JesusEsDios007]

So disrespectful by starting the conversation by saying LISTEN.

[@Foxhole1776]

Ghetto Black peoples what you expect

[@piggy8435]

Should I get a Toyota Corolla, Honda Civic, or Subaru Impreza?

[@danie4819]

Toyota I would say. All my hondas in the past always left me stranded

[@jakefranchise7463]

Toyota is more reliable out of the 2. My aunt has a Corolla with 300k miles still going strong. I have a 2018 Honda HRV and I have 110k miles but it runs fine, will it make it to 300k miles? Who knows.

[@Nb61777]

2:34 she said this was her dream car, her current position owning that car is living one of her dreams, what are you smoking? And why does she even have to hear what her boyfriend says!???? Screw him.

[@tonyaelmore7610]

Since she only owes 9k, I’d pay it off and maintain it. She can drive that car upwards of 150k miles

[@luismatilla2]

The problem is also the maintenance of the car ,which is very expensive

[@clipperloyalty]

Good advice

[@rarahonesto4683]

I need help with my car too. Sorry about my english. I have this car for like 6 months now. And i got 11% interest too. Toal price of the car is $22,000 nd the value of the car is just $12,000 on kbb. I want to just buy a cheap car so i can get rid of this $350 monthly on the car for 70 months and $250 insurance monthly. Thank you in advance

[@faridteymouri5832]

Rara Honesto how much your income is?

[@rarahonesto4683]

@@faridteymouri5832 Well, i work as a Valet, $10.60 80 hrs every 2 weeks, and my tips is not stable but average is $50, sometimes $150. I got a appraised my car dealership said $12000 for my car, and i still owe $18,000 on my car right now.

[@rarahonesto4683]

up

[@rarahonesto4683]

UP

[@thebiggeryou]

Youre fkd

[@TheDCMO]

Dave is being too nice. If u make 28k u should drive a geo Metro or a used car worth 2k.

[@juliorobles5696]

Is this considered voluntary surrender ?

[@itsjust._nalyn]

Hi Dave. Thanks for all your videos...I have a situation with an Auto trade I no longer have possessions to. This A1 dealership in Columbia, MO still did not pay off a trade since 2015. Plus he already sold the car that was traded. How is that possible if he did not pay the lenders off yet. Now im getting harrassing phone calls from lender demanding payments on a vehicle that i don't have anymore and a bad credit reports too urg...Please help me on what to do?

[@Thanks2youu]

Facts

[@hluvv7607]

Whoa I make 112k year and driving 7year old VW

[@watsonanthony8438]

VW owns Porsche, Lamborghini, Audi and Bugatti btw 😅😅

[@cowpiecowboy7599]

I have about 9000 equity in my truck with 13000 remaining on the loan. Should I sell it and buy another truck free and clear with the 9000 and free up another $514 a month?

[@deadpanhay]

Depends how much you make and how much you can sell it for but $514 is a bit high for a car in general. For example; you could get a really good car worth 15k on a 3/4 yr loan for only 333 a month if you have good credit. Use that as a base. If you make below 45k then yes.

[@cowpiecowboy7599]

@@deadpanhay Thank you for responding I make a good income of 145,000 the trade in on the truck says about 21,000 I still owe 13,000 I have a credit score of 725. Just weighing my options cause if I traded down in vehicle I would own it free and clear then that 13,000 could be invested. I could still pay off the truck but knowing I spent 37,000 on a liability chapps me lol. Live and learn

[@deadpanhay]

@@cowpiecowboy7599 Ah then the payment is bc the initial amount was so high. Ramsey would say you make a good income and that you can keep the truck but pay it off right away so you have that extra income per month bc you make enough to do that in less than half a year if that is your only debt. I am not a car or truck person so I would never want to spend more than 25k on a car but you can afford it. If it makes you annoyed to have it, you have other debt and you don't use the truck for work then selling it now while it still holds value would be a good investment of your time and the money you get out of it. You can get a really good used car/truck for under 20k. Ramsey would also say try to sell private since you can get a little more money for it but you are not hurting for $2k extra it sounds like for the extra time and hassle.

[@cowpiecowboy7599]

@@deadpanhay Awesome thank you so much very helpful information.

[@junkmail75034]

Dave you make me think now everyone driving a Mercedes on the road is broke... don’t hit me please you go first just stay away from me and my BMW.

[@colewildenhus7207]

C class Mercedes is Mercedes for poor people. How could u buy a car like that making about $14 an hour. Yikes. DUMB!!!

[@Tundra0128]

Pay the bad boy off and you now have a mercedes with no monthly payment haha

[@kevinoverholtzer3126]

28k a year depends on her other expenses. But I think that is her best option you go upside down and have find a car when you do what Dave says.

[@revilsdr]

This lady gives me headache just listening to her.

[@michaeltoland5170]

She owes 9k & makes 28k

[@lisahurtt7608]

They say homes go down in value,so what do you invest in?

[@markd6838]

Who says houses go down in value?

[@digitalopt]

What's your point? You need a house to live in... you don't need such an expensive car to get around. I've made the same mistake, and learned from it

[@hunkydude322]

who ever saids it must be smoking some good chit LOL

[@fireheat8738]

@@markd6838 they do as they deteriorate or people start to move out

[@watsonanthony8438]

@@markd6838 2008

[@franklynthree]

LOL

[@MAVER1K217]

9,000 for a benz. Not that luxurious. Lol

[@ocky88]

I think she said 9k is left to pay it off.

[@volvotwoseries3384]

Mercedes are great, I own one that costs over 100k$..... not the best comparison.

[@KnockoutInvesting]

I don't understand anyone who makes such low wages. Even below 70k a year for a single worker is low wage. For me to be successful, my income needs to be at least 150k above for a single worker.

[@Dezmond_Roman]

😒 says the guy that works at McDonald's for a living

[@ocky88]

What a weird comment. You don't UNDERSTAND people who make less than 70k (?). What is there to not understand? That is what their skill set and the job market allows for at the moment.

[@ArnoldNathan]

Must be nice

[@archiestanton2767]

Dude, read the book, 'Nickel and Dimed." It's a short paperback your library probably has. Maybe after reading it, you'll grow a little empathy for the majority of us. (I'm assuming your comment is serious.)

[@chrisstaub5880]

Yes, how do those people live, having to actually buy groceries and make their own food, or drive common non-luxury cars like Camrys or Accords? It must feel good to look down your nose at those lowly peasants and remind yourself that you're so much better than they are.

[@Parysk]

wow your dream car is like a normal car for a rich person lol. at least have some taste...

[@ocky88]

She's not rich so... yeah. Her dream car is probably not a dream car to a rich person. I am not sure what point you thought you made there.

[@Parysk]

theres cooler cars than a standard bmw is my point. i