What Most People Get Wrong About Cars | Dave Ramsey's Greatest Hits

[@oblivion85]

Man, I miss these old Dave Ramsey videos where it felt like he was talking to you one on one.

[@user-ne9wp8ve5u]

I agree. When both start talking and asking different questions at the same time gets to be annoying.

[@emaldon7]

Back when a $600 car payment was extreme and not the norm 😅

[@oblivion85]

@@emaldon7 lol for real.

[@kilroywashere9678]

@@emaldon7the average now is $750/month crazy 😳

[@johnfijnvandraat]

​@emaldon7 I had walked into a Nissan dealership because I was looking for a used car (a traded in one as if it's a different brand a dealership will likely do what they can just to get it off the lot) the guy brings out a certified pre owned 2019 Nissan kick for 35k or 682 a month for 72 months with 5k down it was a bad deal all around the papers they tried to get me to sign didn't even have the interest or apr on it and I noped out of there as fast as they would let me as they even tried to stop me from leaving never go to Nissan

[@nancyford8212]

My son worked from high school at a small airport, did 3 yrs of aeronautical engineering then was needed full time at the little airport. He went back full time and studied on his own...no school and git his mechanics license, then one of his 2 days off worked on helicopters and that money all went for him to get his pilots license within 2 yes, then went on to get his license for doing yearly plane inspections. All done on his own. Now still working 40 hrs a week at the same place but the on call mechanic at the local county airport even on his days off. Proud of him. Pays cash for cars. He is am example for your show. He is 55 and been married 38 yrs, they have 5 rentals from tax liens.

[@JoeMNPT]

Man, after listening to new ramsey show episodes for the past year then hearing this, it’s so much better listening to old Dave by himself.

[@kennethmelnychuk9737]

Agreed, the direction, quality wise is troubling.

[@0my]

Word. That's called frame. Now you understand why he, one person, got rich from the show. Instead of 100 people doing the same show and getting normal income.

[@kennethmelnychuk9737]

@@0my: he started that show and his book, have you read his book?

[@0my]

@@kennethmelnychuk9737 nope. But I'm not surprised that he sold a lot of copies

[@StasiaAleen]

I disagree. These old ones he drones on and on losing my interest. The new ones he's to the point and on to the next one. Much better.

[@tlan77]

We bought a 9 year old Lexus RX330 SUV in 2014 for $18K (paid cash). Still driving it with nearly 200K miles in 2024, no car payments and no issues except regular maintenance. We took three paper routes and got up at 3:30 every morning for two years before our day jobs to pay off our mortgage before our 50th birthday. We blame it all on Dave’s recommendations to “live like no one else so that later you can live like no one else” . Thanks Dave - you truly made a difference in our lives.

[@MightyGodofGods]

“They are brain damaged. Their parents are cousins.” 😂😂😂

[@demasmongare4575]

ran to the comment section looking for this😂😂

[@sahilmehta2009]

It's even funnier cause Muslims actually marry their cousins 😂😂😂

[@countrymusicandcher8593]

​@@sahilmehta2009 You know christains do too tho? Its not about muslims...but it was funny 😂

[@genevievegracia9106]

@@sahilmehta2009I see no one told you about all the very Christian royal families of Europe 😂

[@christislove9844]

*Muslims are crying after this comment*

[@leahc731]

I have been driving a 2006 Toyota Corolla since 2011. No car note since 2013. Love the freedom of being car note free!!! 🎉🎉

[@lorrainedempsey3320]

This man with the BMW problem, is exatly why i told my son at the age of 23, that in two yrs, at 25, he will have to go out on his own. He needed to learn how to take responsibility for himself. He is now, 52 , and is very much financially secure, and will retire when he is 55. He is not college educated, but is self educated financially. 👏👏👏👏👏👏👏

[@rosalinavega34]

But I understand if you don't use your credit card your credit scores will go down so low that you won't be able to purchase a house? Since you need at least a score of 750 to get a lower interest rate on the mortgage loan

[@truckerstar24]

@@rosalinavega34you don’t get a 750 score by getting debt on your credit cards..

[@rosalinavega34]

@truckerstar5830 my credit score is 789 by using my credit cards below 30% and paying it off before interest was applied. My credit score use to be 520.

[@CherryBlossom-yn7oq]

​@rosalinavega34 using credit cards responsibly won't make you go down in debt. *You never spend the money you don't have.* If you buy things with a credit card, you better have the same ammount you spent, in cash, to be able to pay it back.

[@muniondalenewyurk6777]

I retired last year from hospital admin job after 22 years of service at 60 years old. I got financial management counseling for two years prior to retiring. Paid off my car last year. My husband is retiring in 5 years from the post office & I double his contributions to the pension plan & the post office matches. Last year we got a 10k gain on his pension investments. We purposely have shared one car the past two years to go to work (I worked in daytime for 30 years & he works evening shift for 29 years at post office). Prior to that we paid in cash for used cars, to avoid car payments. We have a 2018 Subaru that I paid off 8 months early. Now I’m working on paying off our mortgage, so in five years we will be mortgage free when my husband retires! 😊❤️

[@lynnettep9517]

Good job!!

[@paulmifka89]

Hope you both enjoy a good holiday together.

[@chotunab]

Every time I see or hear on the radio the Ramsey show it really is unbelievable what people do with their life/money especially when they are over 65 years old and have to work. It is heartbreaking and very sad. I came from India (the largest Capitalistic country in the world) where we have no welfare, no social security, no free school and no mortgage, just maybe now it is possible to get a car loan, so our parents (especially the father teaches us kids to spend money wisely and invest in the future) so when I came to the US, I followed my father's footsteps to build successful future. I did not follow Ramsey's baby steps because I did not need it (I have full respect what Ramsey says to the people in trouble) I hope there are more and more people who listen to Dave Ramsey before they get into trouble and make wise decision in life......keep up the good work👍

[@JoOrtiz09]

100% The “going into debt” and “spending more than you make” is a cultural thing in the USA. Everyone wants things they can’t afford. The power of marketing.

[@turtleanton6539]

​@@JoOrtiz09yes indeed😊

[@dessy844]

I am from Indonesia and consumerism is becoming a problem there too. Gambling and payday loans are increase among the low incomes. I think the whole world should learn to live below their means, and stop comparing your life with others.. Even if you can afford something- keep that to yourself.

[@stratoplayer1988]

My car is a 2012 model and do not have to make any payments on it. Last year, I had to pay about $2500 in repairs just to be able to drive it. I’ll take that over any car payments any day.

[@roofcamper3473]

You should learn to fix it yourself. It will save you thousands

[@15KHPCLUB]

@@roofcamper3473 Becoming mechanically inclined takes a lot of time and chances are you don’t have that when you’re working just to keep a roof over your head which is what most people are doing.

[@kathleencooney1518]

I am also driving a 12 year old car. I only have 60,000 miles on it & hope to drive it for another 10 years. I can’t afford a $600 car payment.

[@epochrocks3857]

@@15KHPCLUBeven doing regular maintenance yourself can save thousands. Say a high mileage service interval calls for brakes, oil change, ATF/diff fluid change, power steering, filters, spark plugs, etc. that could be $1000-2000 even on a Honda or Toyota at a local shop or stealership. If you have some basic tools, KZbin, and a little paitence you can get all that done for a couple hundred bucks. I don’t think roofcamper is advising op to rebuild his engine or mess with the electronics.

[@roofcamper3473]

@@15KHPCLUB You're not wrong, tools are expensive. I think doing fluids, brakes, and basic suspension could help people save thousands with not that expensive of tools.

[@XimHo623]

My husband 's dream had been a Platinum Sequoia Toyota since his 40s. Before he got it, he'd been driving cheap used cars for years until he bought it at 67K in 2019 with no loan. He enjoyed driving it for his early retirement at 62- yr old.

[@mr.marinero6747]

That’s my plan .. I drive 2013 Highlander in a few year I going to buy a 4 runner cash

[@ramsaybolton7464]

Amazing truck Xim

[@googlegmail9888]

Dang bruh 20 years to get one car? That’s madness

[@timsimon8995]

67k for any car is a waste of money. Gets you to the same place a 20k car gets you, but you have more money to spend when you get there.

[@anthonys5568]

Regarding Feraz. Thank you Mr Ramsey for helping out a young man who made a mistake.

[@ST-ue5fb]

I disagree. BMW did not con him. He is a 27 year old adult, not a child. He knew his income and his car payment. I do not feel bad for him.

[@meropale]

No one forced a BMW on this guy. It's interesting how Dave seems to take him under his wing.

[@ibmtpx24]

Close to 2m net worth no debt and my car is a 2015 Mazda minivan I bought used for $10k. Loving the car and living in my dreams not caring about what other thinks.

[@kennethmelnychuk9737]

I believe that Dave once said something akin to: driving something you can’t afford to impress someone you don’t know(?)

[@jonathanbranyon]

We should have a competition to see who can drive the cheapest car for the longest period of time.

[@kennethmelnychuk9737]

@@jonathanbranyon: Al Bundy’s 1971 Dodge

[@kennethmelnychuk9737]

@@ibmtpx24: congratulations and good on you. I live in a modest home (1052 square foot) that is mortgage free and drive a 2018 Jeep that is also loan free, I have only a $150 balance on my cc and I only work approx 12 to 16 weeks/year to build my union pension and pay for odd projects or vacations. I only work a bit in the spring and fall. When I do work, I put in a 110% effort and do a good job. However: I do emote an attitude that I am not afraid about losing my job even if I need the money. The money will always come. This attitude confounds my employers that attempt to use veiled threats of layoffs on me The feeling of being debt free is AMAZING, everyone should experience this as opposed to living with debt. So, I may not have an equivalent net worth as other people but I’m in a good place.

[@jonathanbranyon]

@@kennethmelnychuk9737 I have an 03 Ford Focus I bought 6½ years ago for $500. It still runs like a top.

[@AnthonyJustice-i9x]

I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Brooke Miller.

[@aarizphilip]

I'm surprised that you just mentioned and recommended Brooke Miller, I met her at a conference in 2018 and we have been working together ever since.

[@KenistonKist]

The very first time we tried, we invested $1000 and after a week, we received $5500. That really helped us a lot to pay up our bills.

[@jadewashington7]

She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states

[@mikesnoek]

I'm new at this, please how can I reach her?

[@ClarenceFerland]

I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills

[@scottcampbell96]

Bought my only new car 9 years ago. Started as a lease, but I saved enough to pay cash for it at the end of the 3 year term. Lost my job at the end of 2019 (and struggled to find something new during COVID). Having the car paid off was such a relief and it’s still going strong today. I live 2 miles from my new job, so the car only has 72,000 miles on it. My previous vehicle was a 1997 Silverado that I bought in 1998 and drove for 17 years, so I expect this car to last at least another nine years. Just building wealth debt free, now. On track to be a millionaire in 6 or 7 years.

[@aaronjmcc1]

2 miles ... please tell me you don't drive that distance

[@andreacordovezflores1248]

@@aaronjmcc1dude in my city you have to drive everywhere. 2 miles is not walkable in my city.

[@echo5827]

@@andreacordovezflores1248 Lmao what city is 2 miles not walkable plot the route on maps rn

[@jimroscovius]

​@@andreacordovezflores1248I wouldn't live in that city.

[@troytruong8246]

I would get an electric bike or scooter. Lol

[@z31Joshyman]

I grew up in my dads used car business. Im 33 years old and have been driving 5000 dolar paid for cars my entire life. One of the best financial lessons i took from my parents was drive good used cars.

[@jamesrecknor6752]

I think my 1966 Cadillac will still be here when I have been recycled lol

[@muniondalenewyurk6777]

👏🏾👏🏾 it’s great that your parents taught you well to prepare you for life & to stay wise 😊! I teach my son the same thing. My husband & I mostly bought used reliable cars with decent mileage 60k-70k miles. Kept cars until the wheels fell off for over a decade 😅! People needs to stop trying to impress others and do what works best in their household to manage finances & stay out of debt. 😊❤️

[@gmanblue2026]

Yeah, the really good used cars never make to the sales lot. They all go to friends and family of the dealer.

[@devilsoffspring5519]

That's cool, a good used car sometimes eats money in repairs but it's a LOT cheaper than a brand new one! If you lucked out and didn't end up driving a turkey that's a real money pit to maintain then that's the smart way to do it. New cars are nice but people just steal them and fuck them up. Even decent used cars always get stolen and vandalized, people are losers

[@user-eu9zc8ch3h]

The car load company also got my brother too. The company tried to get my brother to buy add-on packages that increase the price of the load. For those young people trying to buy first car, find someone with experience to shop the car with you.

[@heavyd777]

I stopped taking out car loans years and years ago. If I don't have the cash, I don't buy it. I own 2 cars, fully paid for. I'm saving up for a used Ram truck!

[@As_A________Commenter]

If BMW stopped financing Persians and Armenians in Los Angeles, their entire North American division would immediately collapse

[@esotericone9101]

😂😂

[@ChocolateJorge]

😂😂😂😂

[@Kiancool]

lol 😂

[@roolyfe]

Lmfao 🤪

[@grimreaperoverlord6225]

Persian living in Germany here, WTF are my countrymen doing over there?!?

[@rajbeekie7124]

I love Dave's comment on whole life insurance being a rip off. He is 100% correct.

[@15KHPCLUB]

It’s easy to trash what you don’t understand…

[@rajbeekie7124]

@@15KHPCLUB LOL If I hear you correctly, a properly structured whole life or IUL, or what ever will do the trick. Got it. Those products are only good for separating people from their money. Agents are good at singing siren songs.

[@natersalad889]

​@15KHPCLUB haha, get your tunnel goggles off.....

[@15KHPCLUB]

@@natersalad889 Haha proves my point 😂 You have no logical response just more ad-hominems from the peanut gallery!

[@LittleMopeHead]

@@15KHPCLUB What is your perspective and thoughts on whole life insurance?

[@MegaIndecisive]

I bought a new car in 2014 after driving two used cars. Paid it off in 11 months. I'm still driving that Civic today. Bought a second car last year that fits two car seats, a used CRV (2019) and we paid cash. No car payments. I hate paying interest.

[@randyzeroth4098]

I only bought one car at the dealership on credit, I was young and foolish. Hindsight... or better idea, work like crazy, buy an ok car (known for its reliability) cash, and learn auto mechanics to do the easy maintenance, only pay someone else for what you can't, and shouldn't do yourself. This is until you can afford to buy a better car cash. God gave Dave Ramsey some solid wisdom. Blessings and respect.

[@lukezeiders]

I got a 2007 Honda Civic for $4,000. I’ve been driving it for 5 years now and it’s never had a single problem. You can buy a reliable point A to point B for cheap. Enough with these car payments!!!

[@oDazzleRazzle]

I financed a 09 vehicle for $10k because it had only 20k miles on it. 40k miles and $6k of payments later and I wish I was in an accord, civic, camry, or corolla. Never will I finance a car again

[@echo5827]

You got scammed

[@chrismitchell6478]

My friend purchased a brand new car Hyundai Elantra Hybrid and they've had to spend more than I did on my '09 Nissan Versa in the past couple years and to make matters worse for them, they even paid extra for their warranty which has yet to cover anything that's gone wrong with it. . Is their car nicer than mine, yeah, when it works. So many people think buy new, you won't have any problems, it'll be so reliable. No, not always and in Canada we don't have lemon laws, so if you get a lemon you are stuck with it.

[@alfx5432]

Cars are a waste of money

[@axcdef]

Toyota Camry, Corolla. Honda accord, civic. Most reliable cost effective cars there is.

[@champjohnson8614]

I love the Ramsey show and I disagree with majority of your take because I’m a real estate investor. But , I love your honesty that you provide the callers. That young man with the BMW needed to hear the truth.

[@liesascott5414]

I lived for most of my life in expensive neighborhoods. None of my neighbors bought a new car all the time or hoarded them. The wives did not go shopping all the time and did not wear designer clothes. They did not buy their kids insane gifts but told them the ins and outs of the stock market at age 12. None of my neighbors wives looked like Miss America most everybody treated their housekeepers with great appreciation and gratitude. Being a housekeeper for these people is usually more fun than being the manager of a grocery store.

[@AllenGarcia-wc3qu]

I got some good tips on buying cars, but much like cooking is a passion for some having the right car is mine, I used to drive a 4 cylinder suv that was perfectly OK and i was depressed now I drive a v8 rwd car that has problems and leaks oil but I put my foot down and it goes like he'll and I can't wipe the smile of my face for hours and even remembering those moments makes me truly happy

[@miriamburkett3294]

I have a 17 year old Civic with 120K on it. My first Honda and I am positive I will buy another one.

[@andrewmanuel1769]

Great cars . 2006 DX- 403,000kms now. Very minimal repairs over the years

[@evoman44]

My daily beater is a 95 Acura Integra that now has 267k miles. And I even used to race it hard when I was younger.

[@lisawise4204]

Hondas are great cars! My parents had a 2002 Odyssey, which I drove for a while. In 2023, it finally stopped being worth repairing with over 300k miles on it . . . Hondas and Toyotas are the way to go 😊

[@kristidavidson8945]

I prefer a Honda above everything else I’ve ever driven. But our local Honda dealer is second rate. So I’m in the Toyota and probably will stay in one. The difference in the dealerships for me is enough to move to Toyota.

[@teresaellis895]

We keep cars forever.Gifted our 05 chevy to son to haul stuff,2010 camray to daughter.Both have near 300 k miles.Hubby rode hard daily for nearly hour commute.They are still going...

[@curiouscat3384]

That's great - I'm the same. But it would be helpful to talk to naive people about how much maintenance you did for those vehicles. Even without a car payment there must be a budget for maintenance and repairs. I don't include mine in my regular emergency fund which is for new appliances or a trip to urgent care center or loss of income for a month etc. Those are truly random events. Car maintenance needs to be as routine as a car loan payment : )

[@sethdanielw]

@@curiouscat3384 Exactly. I have no payments on my car, but I'm starting to think the cost wouldn't make a difference if I did because of how much maintenance costs. In my opinion, getting an old, slightly worn car is only cheaper if you can fix cars yourself or you have a close friend/family member who can do it for cheap.

[@oneshot1kill158]

Pretty much,

[@yubima]

My uncle and aunt keep theirs too. The hiunday they have is at least 10 years. My aunt did buy a new car, but it was with a reminding of a property sale( subaru), and she is confortable all the 2 and a half hours of travel she does for her work everyday ( shes a nurse, and of charge of the protocols for infections on the hospital), my uncles truck is so beat up, that i dont think he would get ride of it untill is stop working

[@curiouscat3384]

@@yubima I don't know how old your aunt and uncle are but I can also say that us old fogeys also just don't want to give up our comfortable old possessions. I'm wearing a 30 yr old sweater for gardening that's practically falling apart but it's perfect! Vanity and keeping up with the Joneses wears off eventually for most people :)

[@cheyennehunt7882]

I feel that too Dave! “These people smoking crap” my mom makes 26,400 yearly and got approved for a car loan of 45,000

[@sweetbean9218]

The salesperson wanted the commission. Damn the person he's selling to.

[@cheyennehunt7882]

@sweetbean9218 yeah it sucks

[@carterthiessen2664]

I bought a 1998 chevy half ton in 2012 when i was in high school for 2500 bucks and drove it till 2 years ago when i bought my 2009 gmc pickup for 2500 bucks. To be fair, my 2009 needed the entire front suspension replaced and all the brakes, as well as a windshield and all the tires. I did all the work myself other than the windshield and i still drive it every day. I still have the 98 and its come in handy as a backup vehicle. But ive never once made a car payment and im very happy about that!

[@paulstandaert5709]

This first guy on the show is a perfect example of why I do not support student loan forgiveness. 27, living with parents, $600 car payment, and $10,000 in credit card debt and broke!

[@ryanfisch7047]

I support it because of everything else the country has bailed out over the years. Now "normal" people could use a bailout and now it is a big issue. The supreme court ruled that business are people, so why are some people being excluded from a bail out. But in general I agree with Mike Rowe the higher education system is screwed up, more jobs I believe should be taught like how trades are with apprenticeships. Also maybe you might agree with this US gov waives the white flag, all student loans are forgiven AND going further student loans are not guaranteed and make university cheaper. I heard that some federal jobs might be dropping the degree requirement, if that were to happen and more businesses do the same then college will be cheaper.

[@ryanfisch7047]

@DrifterZigzag 🤷‍♂️ congress. Wang's argument for Universal Basic Income isn't terrible. Taxing AI companies and giving that out similar to the yearly benefit for Alaskans. He also said if you accept UBI you don't get other federal programs.

[@paulstandaert5709]

@@ryanfisch7047 I would actually be okay with "free" college if the colleges were not selling such useless degrees.

[@ryanfisch7047]

@paulstandaert5709 I really think jobs getting rid of degree requirements would solve a lot of problems. Realistically, only a few professions need college, most things can and are learned on the job.

[@paulstandaert5709]

@@ryanfisch7047 Yeah, there's that, too. There was a 20 year span where seemingly every job had a degree requirement. Which was bogus because it seems like a lot of people come out of college dumber than they were when they went in.

[@JoeBackspaced]

I am about to buy my second car, I really needed this video to remind myself to not go overboard

[@carnivoreRon]

I'm driving a 2002 car and have no debt. I hope everyone else decides to live a debt free life of peace.

[@c.r.u.e.lsociety4026]

I have a 2002 accord

[@chansarithsok]

I have a 1999 4Runner and it'll run at least another 100k miles.

[@Joce123]

Until you get the first repair bill...omg my friend owns a repair shop ..He gave himself a salary increase of 40% ...just because he could..unfortunate for his customers..they have no choice but to pay 40% more. I'm unimpressed by your debt- free old car

[@dougtaylor2803]

Not to mention, jealous.@@Joce123

[@inspirice9844]

​@@Joce123Old cars that have been looked after barely need a cent spent on repairs, just cheap wear and tear maintenance like brakes and fluids, they were built to last back then.

[@inadollard6672]

I saved for years and drove old cars, bought a nice car, I only had 2/3 of the cost of the car, paid it off in six months. My husband was not happy with me but it is paid off.

[@Cindy54504]

I use my credit card every month, but I pay my bill in full every month. I been debt free since 2009.

[@peaceness888]

Then great for you! About 50% of Americans have credit card debt. So, most people are better off with debit. This is especially true of most Dave Ramsey callers. If you have been fiscally responsible with it for 15 years, you are fine.

[@jasonmcenroy1961]

Same here… everything goes on the cards, paid in full every month, zero credit card debt. We have just over a million Amex points, and I’m excited to book an epic “free” vacation lol

[@leahc731]

SOME people who drive fancy cars get them to impress other people. Truth be told, people dont care what kind of car you drive.

[@carriesing]

Gold diggers care, lol. A very good reason to drive an old car.

[@GreekCarFreak]

As a car guy with a few nice cars, they are an enormous waste of money. For a commuter car, buy a reliable used Toyota or Honda (naturally aspirated if possible), maintain it, and you’ll barely notice it exists in your annual budget. If you live in the rust belt, get an oil-based undercoating every year to prevent it from rotting out. Aside from Lexus, luxury cars are junk quality and depreciate accordingly, so try not to buy into the brand marketing. With all that said, I’ve sacrificed in other areas to own nicer enthusiast cars. Not to impress anyone, it’s just a very expensive hobby I enjoy lol

[@monsieurbojangles2336]

The oil based undercoating is a great point and critical anywhere with salted roads. If it's applied every year, the stuff actually works. Most of my previous vehicles were still running fine but rusted away.

[@lot2196]

I always wanted a BMW. I bought a used F650gs motorcycle off Craigslist for $3,000. 3 years now, it's been flawless.

[@15KHPCLUB]

It’s called cosmoline and not sure what vehicles you own, but from my experience people tend to blame the brand for their own negligence. Modern vehicles are much more sophisticated and don’t tolerate skipped maintenance quite well. Are there some defective models out there? Absolutely, but most of the time people just don’t maintain their vehicles then act surprised when they break down.

[@cathiematthews1359]

Shhh.. don’t tell people that! Then the price of used Toyota go up! 😂

[@counterbalancelife4305]

Yep, fluid film works very well. Get it put inside your panels, not just underneath the car.

[@jimroscovius]

We paid cash for our last cars. We finanaced new cars 21 years ago, paid them off early, and have never done it since. We buy 2-4 year old used cars with cash.

[@fredfinger7092]

This lady about the truck... "One more question..." Dave answers. "Oh! Thanks! One more question..." Dave Answers. "I see! One more question..." What a joy she must be to live with.

[@roofcamper3473]

I drive a 2008 lexus IS-F and a 2009 lexus I250. Both paid for and I fix both myself. 170k miles on the 250 and 113k miles on the F

[@darrellhardy5047]

The ISF is bulletproof

[@roofcamper3473]

Yeah it is very fun, glad to own one cuz they are a rarer find now@@darrellhardy5047

[@Kenspencer999]

What I don’t understand is, on one hand we are told the stock market will crash and yet on the other we are told ways of investing in the stock market. Oxymoron or paradox? I'm considering investing over 150k, but I'm uncertain about risk mitigation strategies.

[@blabberchannel-me3uj]

Just buy Gold and protect your assets, the stock market is a rollercoaster.

[@Jamestate-fp2fx]

The market is not necessarily a rollercoaster if you know your way around the market, there are various opportunities in the present market to accrue good profit, If you are not too savvy with the market, just buy and hold on strong companies with good earnings, or consult with advisors on ETFs and actively managed funds

[@sarahfunnel]

Your advisor must be really good. How I can get in touch? My portfolio's decline is a concern, and I could use some guidance.

[@Jamestate-fp2fx]

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Anna Rounds Fay” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.

[@lexgreg77]

I appreciate this. After curiously searching her name online and reviewing her credentials, I'm quite impressed.

[@briancristoni8413]

$22/hr as an air craft mechanic in LA????? I’m in Sacramento as an auto collision estimator making $32/hr. No formal education, 24 years old. I thought air craft mechanics were paid more.

[@nigelcxbb]

Yea most jobs where I am start at 30$+

[@breckfreeride]

Burger flippers at Wendy's in Moab are getting 24 an hour... Just saying

[@bobmcgrath1272]

I’m based in the UK and spent 13 years working as an aircraft technician and moved into IT when I was 30. Primary reason was the shocking low pay especially when considering how much responsibility you have whilst working on aircraft. I miss the work but it’s frankly a joke what they pay.

[@nonamehawg7068]

I am NOT flying on anything that he is working on. 😱

[@timothythompson4036]

Remember, this was 6 years ago. Now it pays more

[@coldandafraid]

First one, going to school for 22/hr... man that's tough. Im not flexing i just want to tell people, my job pays 25/hr and im 19 with a highschool diploma. If you need to start a snowball of good income and good finance the midwest is where you gotta go.

[@johnwrclinton]

I have a car, and a pickup (for our farm), both 100% paid for. But I do use credit cards - NEVER carrying a balance, I pay them off 100% when the monthly bill comes in. I think it's good to get the discount points / rebates. Where am I wrong?

[@AK-ne4og]

Same here. Always pay and always paid in full

[@19ghost73]

You aren't. But statistically, (too) many credit card owners spend way more than they would IF they'd pay in cash all the time. And often, the "earned" free points are going to be used on things that in itself cost extra money, like a vacation trip were additional money is being spent. Bottom line: If you're in firm control of your spending habits, a credit card is no problem. For a (vast) majority it is, though.

[@WackyIraqi777]

Dave is all about KISS for people who need KISS. You may not need KISS in which case his advice would not apply

[@95lal]

I had a £430pm car payment in 2018 from BMW when I was earning £1700pm.. It was just a case of keeping up with my peers and wanting a fast, reliable car. I decided to end the lease early and bought a used BMW with a low interest loan and cash, best decision I ever made car wise, now I'm car loan free and have a mortgage. Obviously, the other thing you can't outrun is the fact that you need to literally earn more money to be more comfortable in life.

[@jaymoney9643]

Dave gives top tier advice. The one area I would disagree with him on is to not say things like “you’re going to sell it wholesale, might as well sell it to me.” At that point, you’ve shown all your cards and the salesman has no reason to incentivize you with a slightly lower price. Plus, lots of dealers are super competitive. I’ve seen people who were hard negotiators get great deals because they were humble and didn’t make it seem like they knew the dealer’s business or what the purchased the car for. And I’ve seen people walk in with an add from 6 months ago of the car still sitting on the lot talking about how they would never sell the car get completely blown off. Just be careful with your language when you negotiate. Be humble and act a little bit ignorant of the topic if you have to.

[@Jenda-ld8dj]

Negotiate entirely in writing and take your time. Hold your ground.

[@thetapheonix]

Huh? If it’s the wholesale price then that’s as low as it goes unless the dealer will take a loss which they never do. Wholesale would be a good price as a buyer and if the car has been sitting they can move it to not have to pay the showroom. If he dealer says no walk and tell them they can eat the showroom costs another month. Don’t humble yourself, they will add all sorts of shady costs and market adjustments, hardball them all day.

[@daviddeglau8171]

Unbelievable. I am a 67 year old multimillionaire doctor who drives a 19 year old buick. Great car that I hope lasts 10 more year.

[@ian234234234]

Live a little old mate, get yourself a nice car

[@keywestfan2503]

@@ian234234234I’m picturing you in a red suit, with horns and a pitchfork, sitting on doc’s shoulder! lol

[@susiemarkle6908]

Great job!! A typical millionaire next door!

[@cindypatrick785]

We’re far from millionaires but I drive my paid for 2008 Kia Optima w 145,000 miles and plan on driving it until it quits, my husband drives a 2017 pickup that he paid off in 2023.( before we started baby steps).. 8:47

[@RawRoyalart]

Being responsible and being cheap are two different things lol , now if you genuinely like your Buick then enjoy but if you don’t then remember you can’t take your money with you

[@TheSupervillain316]

Bought my 2010 Toyota Tacoma in 2012 with under 7k miles. Got my loan lined up prior but they gave me 0.9 pct so I went through the dealer instead. Got the truck price down and argued up my trade. Still driving the truck and keeping it as long as it runs. My truck is a single cab 2 wheel drive but it does what I need from it

[@noahrose1able]

I’ve had my 2009 Pontiac g6 since 2016. I got it for 5k, and maybe put $7000 into it. But it’s drives beautifully today and I’m not getting rid of it until it’s done

[@evoman44]

I don't think I have come close to putting that much money into my 1995 Acura Integra since I bought it used in 2001.

[@kevinrtres]

Yup! Did car payments twice and then never again. The last one because I had absolutely no credit score to buy a much, much cheaper used car - so I got suckered into a terrible purchase. I survived.

[@025MikeMiller]

Even with 2 Porsches each increasing 100% in value I've spent too much on cars over my lifetime.

[@korylinn2251]

I have a paid off 2013 Ford F150 with just over 200k miles on it, and a paid off 2006 Jeep Liberty with about 185k miles on it. We are still working the debt snowball and have a bit to go. I had to put $1700 on the Jeep last week for some repairs, but I was happy to pay that and not have to deal with a car payment. We were able to pay cash for the needed repairs. Once we are out of debt, we will save up to pay cash for a decent newer, gently used car or truck. We make good money, so many of our coworkers don’t really understand why we are not driving nicer cars. Meanwhile, they are getting new cars left and right that they can’t afford. I’ve made plenty of STUPID financial decisions in my life, which is how I ended up in debt in the first place. I’m just glad to finally be in a position and at an age where I really don’t care what people think about me and my janky cars 😂

[@LordBass]

I've always loved "amputate the Tahoe!". I'm at the point in life that i bought myself a loaded, low-miles 2019 Tahoe 6.2 last year for 55% of original sticker. Freaking sweet ride, and debt free 👍

[@15KHPCLUB]

Ha! Wait til that AFM fails and this “deal” you got won’t look so sweet anymore.

[@ACabral711]

delete the AFM and change your oil and trans fluid often

[@markanthony2133]

“You set yourself up to be the nail.” Great quott

[@Whiskey_Jane]

Just bought my second paid for car, wasnt sure I made the right decision it was allot, it was newer then I ever owned. Also was not most expensive. I made the best decision using Daves knowledge at the time. Also saved myself a 20k loan on a new one. They looked at me in shock when I said no extra warranty. Thank you Dave for all you do. ❤👌

[@handleyobusiness]

Smart move, warranties are scams anyway.

[@15KHPCLUB]

@@handleyobusiness For Toyotas, yes. Supercars, not so much.

[@jasonmcenroy1961]

A lot of people in the comments are talking about being well off, yet driving cheap cars. If that makes you happy, then that’s awesome and I applaud it. But to offer another perspective, I have a Lamborghini, bmw M3, and an Escalade. I love those cars, they bring me joy, and I don’t regret it in the slightest :)

[@stevenfalzon3340]

I agree with you. Money is only nice if it can be used to enjoy life and new experiences with family and friends.

[@TomK-ti8kp]

One of the surprises of my adult life is looking at the choices friends make and thinking “… I thought you were smarter than this”. Much of this includes cars and houses. Stealth wealth is the best because you don’t get people up in your face about it and your stress levels are so much lower.

[@retirementpirate3665]

"Stealth wealth" I like that. I take pride that I drive a very nice but very old car that I almost always get comments on.

[@SIFON5CS]

“All in one accord”🤣🤣🤣 13:00

[@TheWiseYoung]

I only had a mortgage. Found a vehicle I wanted. Too low of price not to buy, damaged title, didn’t care about any of it. Financed it to talk the dealer into a lower price and warranty, and didnt care. Not waiting till I’m 65 to enjoy life. Paid the loan back after 3 years. It’s relatively easy to make purchases for yourself when you are in control of your finances. These people calling in who have less than a jar of dirt to their name, who have 60k in CCD and some how were approved for 50k auto loans are exactly the folks who need to listen to Dave.

[@bobschnittman2856]

OMG. Dave "I want it so I am going to go buy it, uh" -- Hilarious

[@isaachunt5799]

we have no mortgage. zero loans. 80k in stocks and 80k in savings. we drive a nissan leaf.

[@alinatamashevich3354]

Better than being Ryan Leaf. Hype job, clipboard QB

[@BigVeliStayReady]

Just curious to why so much in savings? Is the 80k equivalent to expenses over 3-6 months?

[@alinatamashevich3354]

@@BigVeliStayReady I have 50K in savings. Kinda common among HNWI

[@alinatamashevich3354]

@@BigVeliStayReady I keep 50K or so on hand to snag a great cash deal if one comes my way. Many HNWI have 6 figures at the ready.

[@tombellamy7167]

...having a BMW while living at home with Mom and Dad....wow what a flex 🤣🤣

[@EBTROUBLE]

If I was his dad, when he came home with that car I’d have said you can afford a Beamer, you can afford rent… bet he would have took it right back.

[@esterdrass4964]

Yeah, the fellow I know lives with his parents. He is near retirement age. Has been leasing BMW's for decades now and making car payments for about twenty years but never owned a car in his life.

[@michaelvang1902]

that's pretty common in upper-middle-class homes. I've seen high schoolers drive around 60-50k cars cause of their parent's income while my family drives Toyotas lol.

[@esterdrass4964]

I know a man that has been leasing his cars for decades. He likes to drive the BMW's, Mercedez and Lexis and he likes them new, clean and modern. He has spent hundreds and hundreds of dollars a month on these leases, one time one car was about $700 a month, to lease! He turns them back in and starts a new lease. So, he has been making huge car payments for about 20 plus years now and still does not own a car.

[@CAdams93]

Lol 😂

[@lindap.p.1337]

All I can do is shake my head.

[@timothyfinn905]

work until you die,enjoy the ride.

[@InformedKiwi]

I am of the old school and you mostly don’t buy unless you have the money. Houses are the exception. But depreciating assets like cars is just a no. Drive a paid for older car. There is only two ways to pay for things. 1. Save up and buy for cash 2. The most expensive one, is buy and save for the repayments plus lots of interest. I am amazed that people often think Credit card limit is cash to spend. The CC companies love these people. I am from New Zealand but on the U.S. scale I am in the top 1% of assets and income and I drive a 2008 Lexus. I do have other vices but all paid for.

[@jasminhamilton1147]

Thank you for all your work and sharing information!

[@AstonM6]

I got a 4K Toyota Scion on Craigslist. Two years later it runs fine.

[@LiamObrulicaun]

Buying a car for 5k, using it for 10mnth and being able to sell it for 5k after that doesn't make sense

[@carriesing]

You can get a great car with high mileage for well under 5K if you’ll drive something that isn’t sexy like a Toyota Sienna or other cars that last 500K miles or more. Maintain it and you’ll be fine. I drive a 19 year old Tacoma, 250K miles on it, will last me another 20 years since it is no longer used for long commutes. I’m a little old lady and I just drive to the store, senior center, etc.

[@emilymccord7063]

The future belongs to those who believe in the beauty of their dreams. Success is a state of mind. I think I'm blessed because if not I wouldn't have met someone who is as spectacular as Expert Mrs Lucy Mary Liam.

[@alexandrajuliette6899]

I'm glad I was introduced to forex trading and got the best teacher and mentor who helped me understand the financial market I'm grateful to Mrs Liam🙏

[@peteraaron6714]

It's a miracle and I would testify, $110,000 every 4 weeks! I now have a big mansion and can now afford anything and also support God's work and the church.

[@reynaldo2447]

I have made more than 90K USD God bless Lucy Mary Liam God bless United Kingdom 🇬🇧

[@Westonmckennie943]

Thanks for continuing updates I'd rather trade the stock market as it's more profitable. I make an average of $34,500 per week even though I barely trade myself

[@wendierenard548]

Thank you Lucy Mary Liam $45,000 weekly Profit regardless of how bad it gets on the economy.

[@steelcastle5616]

For the most part, poor and middle-class people tend to treat cars like jewelry. Rich people tend to treat cars as transportation.

[@michaelvang1902]

ill-logic take. Plenty of "Rich" people drive expensive cars, it's those in the middle class thinking they can afford a luxury car that gets them in financial trouble. Even older luxury cars are still expensive to maintain.

[@steelcastle5616]

@@michaelvang1902 And "plenty" of financially lower and middle-class people drive affordable cars and so do rich people. And just because a car is "older" doesn't mean it's expensive to maintain.

[@michaelvang1902]

@@steelcastle5616 making your first initial statement pointless. I'd beg to differ on older cars as they can become a financial nightmare as well depending on what brand and especially how well it's been taken care of. Sometimes it's just not worth the cost of repairs thus a newer car would make more sense.

[@steelcastle5616]

@@michaelvang1902 It all depends on how you define "older" and what maintenance costs are required. As for comments being "pointless", well you read it (that was the point) Mikey.

[@michaelvang1902]

​@@steelcastle5616 Well you said "older" cars aren't expensive to maintain. How so? Aren't "older" cars subject to more repairs?

[@00177454419]

This fellow Feraz is a piece of work.

[@rickyyg26]

My parents handed me down a 2021 Ford f-150 my junior year of high school. I am very grateful I had that privilege. 13 years later and it is still my only vehicle and I take care of it like it’s my only vehicle 😂

[@jimnoe406]

I bought 06 f250 5 years ago🎉4wd its got 264000 miles on it now . I only paid 6300 dollars for it. And it is still going strong.

[@bordersw1239]

The rich people in my town in the U.K seem to drive Bentleys, the wealthy people drive battered old Volvos or Landrovers.

[@GoogleUser-qp8mb]

I agree with everything Mr. Ramsey said, except one. Leasing can be equal to buying so long as the interest rate is low. Manufacturers will offer same low interest rate on leases, whenever they have over-manufactured a model with low demand.

[@jorgesalazar818]

When i heard Feraz and Los Angeles i already knew it was an Armenian with a BMW 😂. I feel that its in Armenian culture to have a BMW or you are shunned by the community.

[@jermainerobinson7098]

Love Dave everything he says is true l wish he would teach this stuff in schools in America, and in the UK and anywhere else thanks Dave keep the videos coming and let’s spread the word 👏🏽👍🏽👊🏽🥂

[@sl0w_racer]

I will never understand why people sign up for these leases/rents. You put down a big deposit, which reduces the monthly payments then you pay a fix amount of money for the duration of the rent which can be 2 or 3 years, sometimes 4 years then you hand it back and start all over again!?? it's madness. The same with mobile phone contracts, it appears as a bank loan on your credit file. You really don't need a new £1500 phone every 2 years, again why do people do this? we buy our cars and our phones, no payments, no interest.

[@thetapheonix]

We’ll have you ever hard to pay for maintenance for a BMW or a Mercedes? 😂 Leasing is cheaper than the upkeep when they get older. The best course of action is just avoid those kind of cars. If you want a new phone and you want it now then the only option is to finance it. People have no financial discipline and they want everything now. If they can swing the payment they don’t care.

[@sl0w_racer]

@thetapheonix yes I have a BMW 340. All paid for. The maintenance is expensive mostly tyres and brakes etc but we love it and can afford it. I saved £30k on the new price because I bought it when it was 2.5yrs old

[@13ikea]

11:37 Rich people say stay out of debt but they are the one’s borrowing the most and declaring bankruptcy. So which one is it?

[@Ryan125y]

$600 car payment? Making $1200 a month. Sell the car and ride a bike

[@badxradxandy]

Live in the car

[@farmaans1392]

How is it even possible

[@Ryan125y]

I have a 14 year old Toyota with 160,000 miles. Runs great and have not made a car payment in over 8 years. Thinking I might get a new car when in maybe 5-6 years.

[@thebi0hazard]

😂 38:39 the trick is to sell the Car from the leasing at the last month … You ask what is the price to free the car , and you sell it to private individual , he receives the car as is , so you don’t have to pay for the amortization … I have done this few times . To own a car for the first 3-4 years is somewhere around 25-50% of the price , and you drive new car cheap … I had few 7series bmws … The car is Msrp 135000€ in Germany , and for the 3 years it was only 18000€ 🥳… Now i drive a w223 s class Mercedes … And use tax deduction , so basically my cars are at 50% payed from the taxes , so 9000€ to drive brand new car for 135000€ it is not so bad deal … 🤑

[@xavier_lucas]

2023 was a hell of a year, I have made $250,000 before taxes as the sole breadwinner and head of household. This is a great starting point and I’m very aware how blessed we are to be in this position, but I’m always looking ahead on how to improve. I currently have $88K left in student loans (originally close to $150K) and very little credit card debt (less than $2K with more than $25K available). I have two auto loans totaling $100K for two electric vehicles at 5% interest. I will appreciate suggestions from anyone who has been in same shoes on how to go about them.

[@FranciszekPawal]

You may want to start somewhere different, like the snowball method, where you focus on one loan, usually the smallest one, and direct all of your resources to pay off that loan while maintaining payments on the others

[@Paullookman]

You may want to work with a money coach or investment advisor, although an investment adviser will concentrate on long term a money coach will help you with paying off all of your debts, maximize your cash flow and help you create systems and processes to direct your money proactively.

[@Paullookman]

Yeah get you an invaluable adviser, everyone has blind spots when it comes to their finances. I began consulting with an advisor in WA from NY. I have a plan in place now and began to love spreadsheets making 662k in the past 8 months from barely 400k makes me have high hopes for 2023.

[@xavier_lucas]

Who is this advisor you work with? I have tried getting around me and it is practically impossible to get one that doesn’t charge exorbitantly. Can you also share what the fee structure is like?

[@Paullookman]

Monica Mary Strigle

[@donaldwilson2620]

When it comes to cars, the biggest financial loss is usually depreciation, and the vehicles that tend to have the worst resale values are usually European luxury brands(BMW, Mercedes-Benz, Land Rover, etc). Unless you really want that luxury car and have the financial means, in the end, they are not worth it financially.

[@esotericone9101]

My car is a 2009 (bought used in 2011), 234,000 miles, paid off since 2015, I’ll drive it until it dies…

[@breckfreeride]

Wife is an excellent saver... She had 20k in cas when we were married. She had saved that over 5 years... I told her to invest it... Time value of money ya know... She didnt belive me till i sent her to school for accounting... First class and she was in the market hard. Now shes beating me!

[@Mujcanal]

Remember this, your car is parked at work for 8hrs then another 8 hrs front of your house or inside the garage, probably most of you driving on average max 4hrs daily. I couldn’t stand the fact that Im paying for fancy car a fortune to the bank for nice shaped piece of steel and aluminium on four wheels and most of a day its not being used.

[@karenmcdaniel1732]

I am so enjoying this episode! So proud of my adult children after watching this. (I'm speaking from April, 2024) I'm especially proud of my daughter. Last year, she worked a resort seasonal job. She saved over $6000 during that season. Near the end of contract, she went looking for a good, used, car - her first personal car - to "drive home for the winter, til the next job." She spent 6 weeks or more researching about used cars, then shopped all around her, and paid $5000 for a used 4wd Mercedes SUV. It had a couple interior cosmetic flaws from use, it had a crack in the windshield. It had 160,000 miles on it. Little rich girl owner had a new ride and wanted to get rid of it. :) Wow, that '08 MB is well built and drives beautifully. It has been well maintained and has no major issues. Back home in smalltown USA she works in the city street dept and is popular with all the guys (you know, those guys that know guys ....) Her fuel pump failed and 'the guys' helped order a new one and put it in at their garage. She's spent about $2,000 total over the winter to flush out every little thing that needed replaced or repaired. The 'guys' helped her locate parts at the best price, even helped her do some of the labor. She could probably sell it now for double what she paid, or more, but she loves the car and says its perfect for her lifestyle of travel-work. It seems the city-street dept guys now have a bit of, er, Big-Brother Pride? in saying - "Oh yeah, THAT GIRL THAT DRIVES THE BLACK MERCEDES?... is a good friend of mine. Helped her replace [whatever]. She paid cash for that car, ya know . . ."

[@bigdogbandal]

Listening to this as I drive back from buying a six year old, low mileage, loaded, 7 passenger SUV for $7500 below book. Paid cash and made the wife happy.

[@DorothyShowUsYourZbornak]

If the woman caller buys a $5000 car, I am skeptical that she will get $5000 for it on a trade ten months later. She really wouldn’t have $10,000 worth of down payment at the 10-month mark.

[@scottcampbell96]

Did a quick search on KBB to see how a $5000 car might depreciate and I think you’re right. Picked Nashville, 2006 Honda Civic 4-door DX (around $5300) vs 2005 (around $3300). So she might lose $2k in value over ten months, or $200/month. Still might be a reasonable strategy, she just won’t break even by reselling after a year.

[@breckfreeride]

​@@scottcampbell96you've used it for 2 years of course there is a cost...

[@emilyhudson8455]

Thanks for the advice. 😊 little more confident now…

[@802asher]

Wait, so how does $240,000 saved in mutual funds ($500 a month for 40 years) become $5 million? The magic of compounding interest? I want to do that plan!

[@luckyduckydrivingschool3615]

I know some people are in difficult situations due to factors beyond their control - but a lot of the time it just comes down to common sense. Live within your means. Also credit cards are fine as long as you don't use it the way the banks want you to - never hold a balance and collect interest. Just pay off the card in full every statement, and take your cashback rewards.

[@VictorC-f6y]

I live in my car so I don't pay any rent at the moment. Rice and beans baby!

[@walkidiafuentes7021]

I am on baby step 7 and driving a Nissan Sentra for 16 years now 😅 still running good 👍

[@italian1488]

Their parents are cousins! I love it!

[@peterr8848]

Per car payments: it depends on the interest rate. I bought a new car in 2012 and planned to pay cash, but they offered financing at zero percent for something like three years. So I invested the money, made the payments, and paid the car off over the three years. I probably saved about $1,000 by not paying cash.

[@user-fp8xc8lf3f]

The difference between older Ramsey shows and current Ramsey is immediately obvious. Old ones are patient, level headed, and have the heart of a teacher. The shows today have none of that. Yall need to change producers and get the magic back

[@BeefT-Sq]

The formula for living well : Save money while you are a teen at home and pay cash for a new car. Then, pay your bank account the amount of a car payment. Keep your car 10 years if possible. Then use the money you paid into your bank account to buy another new car in cash. You'll never pay a dime of interest. You get to drive a new car with a warranty for awhile. Depreciation isn't too big a problem if you keep the car 10 years or more.