This Is Why You Can't Save Money

[@MilaN-lt2mq]

My car is 14 years old. Only 75000 miles. Took it to a mechanic recently and he told me it’s good for another 10 years. I love my car.

[@Kyla94934]

I bet you'll get another 15 out of it even

[@RustyDice]

Same here. Engine and gearbox are rock solid. Few cosmetic issues. 75kmiles and 14 years old - got it 8 years ago and was the best 8k I ever spent.

[@alejandrorocha9632]

What car is it?

[@TheDowntownHermit-xj6rq]

My Jeep is 31 years old and I Am trying to coax another nine years out of her. I keep her scrupulously maintained. She's a work horse, Not a show pony. Put in the maintenance, And you'll be golden.

[@autobotdiva9268]

my toyota still going, little rust. saved up $10k for a new used car if it goes out

[@seanmellows1348]

My former long time plow truck guy, a gritty, seasoned mechanic: “the best truck on the road is the one that’s paid for “. Amen. RIP King Cam.

[@TheyRiseBand]

RIP Toyota Hilux availability in the US.

[@-doggy-6670]

I'm a mechanic in the UK....people are always buying cars they cannot afford and afford to maintain

[@mavman0131]

That way in the USA as well.

[@seltzermint5]

I know women in their 40s who still have not learned to buy reliable makes/models. They see a "really cute" car with a price tag they can afford and do ZERO research. I am sure there are men who do this as well but they're not discussing it with me.

[@ijones1153]

It's so strange! I noticed maybe 10 years ago that there was an upswing the mid luxury cars I would see. Now it seems to be like half of the cars I see are Audis, BMWs and increasingly Mercs. The money that people are spending on buying and maintaining these things must be a massive % of their monthly outgoings.

[@RustyDice]

I'm in the UK too - looking at used cars I keep seeing 3 year old cars at 3o,ooo miles and one service stamp. Keep getting told "2o,ooo service intervals - what's your problem? " 😶

[@RustyDice]

​@@seltzermint5 Any one of them who bought a used out of warranty BMW or Merc -

[@ColinSemple]

That comment of the difference between putting money into a car payment versus money into your future is nothing short of brilliant. I’m so glad you said that.

[@Kyla94934]

Yeah and the breakdown of the numbers was really nuts!!

[@Torgo1969]

Unless the future doesn't exist for you because of illness or accident.

[@AccordingtoNicole]

In that case, why do anything? Why eat healthy? Why work out? Why go to work? Why not pick up a crack habit? YOLO....That's a dumb logic.

[@pilauopala843]

@@AccordingtoNicoleexcellent counter argument. The YOLO excuse is a total cop out.

[@chrismitchell6478]

@@Torgo1969 Statistically if you made it past 1 you will make it to 70. So don't plan your life around only existing for just another week.

[@timothyirwin8974]

Do not need an $80K Ford F150 in the city just to carry an inflated ego. A lot of money just for a conveyance.

[@jburch1544]

It is funny seeing a fancy truck in suburbia that barely fits in driveway parking.

[@autobotdiva9268]

1/2 ton

[@mattw8332]

I bet that those beds don't see a lot of use.

[@grannyprepper1181]

My son has a 2024 Ford F150 and loves it. His payments are $0. His boss got it for him 😂😂😂. I think it was part of a lease package the company got. He doesn’t care who pays for it, he’s got his dream truck.

[@bravesonly]

I'm really surprised, that F150 is a "cool" car in the US. I mean, car ego exists here in Europe too, but oh my god. Not the utility car for farmers, wtf

[@pschneider708]

I'm only 3 minutes and 50 seconds into the video and I just have to applaud that one statement (paraphrased) "...every single car, regardles of make, etc. DOES EXACTLY THE SAME THING!" - what a wake-up call (I already woke up a long tmie ago), but hope others will!

[@terrystyles8205]

Not quite. Acceleration ability varies, and tire condition varies too and sometimes those things could save your life. But this a tiny tiny percentage. For everyday circumstances Nicole is spot on.

[@Asfgxff]

Psst. Come here. So do video games. 🤫

[@mixedmediaartgirl300]

Love this comment. We don't need a fancy box to drive to a box where we sit in a box and think inside the box only to fantasize about the box we're wanting to go "home to", home meaning a fancier more customized box.... Does it really matter? My cat will sit in any box it can, and it's hilarious, but are humans doing the same stupid tricks?

[@whfh178]

Actually, some hold better than others in case of crashes and stuff like that. Not all cars have the same resistance, thats what people should be focusing on when buying a car

[@babymae2222]

Mmm if you have to drive far to make a better income. That old car will not survive it and you will be left with no car at all or job temporarily… That’s the problem, Everyone has a different circumstance.

[@nicolletelangdon2694]

Back in the late 90's, when cars started costing over $20K, people were appalled. 20K for a Nissan Sentra, Honda Civic, or Toyota Corolla!!! Now some cars are almost $60K. and yes, the more options you have, the more things that can go bad. And the more it costs to insure them.

[@BrianK-zz4fk]

my first car was a manual 97 chevy cavalier. No auto windows or anything else other than 1k for a sound system 😂. It was 14k new, lasted 9 years with new AC being only repair until a cylindare was cracked and more expensive than the car. Bought a used RX8 next, lucky warranty was 4 years as needed new engine 😂 that was covered. On my 3rd car a genisis coupe and have had zero issues at the age of 45. I will be looking at an old car without computer crap in it next.

[@gauloise6442]

Those computerized systems are a money pit

[@stenstensson2086]

20K in 1990 adjusted for inflation is almost 50K

[@Draggonny]

I live in a pretty cheap area. There are people around here parking 60k cars in front of their 80k houses. It doesn't make them look like a baller, it makes them look like a dealer.

[@ticktock2383]

Therefore, I only buy old Toyotas and Hondas. Still driving my 04 Camry with 360k miles, original engine and trans. Bought at an auction yrs ago with only 128k miles.

[@Torgo1969]

My 2003 Camry needed a new trans after 5 years, and then it ended up lasting a mere 17 years and 170,000 miles. That is NOT why I purchased an allegedly sensible brand and model of car!

[@timothyirwin8974]

2005 Toyota 3 door hatch five speed manual, all manual including windows. 166K KM (100K miles) just broken in.

[@Torgo1969]

@@timothyirwin8974 Nice! Seems like your experience is better than mine.

[@autobotdiva9268]

mazdas are good also. we had a family 626 mazda that went from mom, me, and 2 brothers. back then the seat belt automatically worked, lol.

[@StigmaSam]

I just bought an 05 Camry last week for $4,500 and it only had 81,500 miles on it. I’m pretty excited to have found such a good deal on a car that’s known to be so reliable! I hope that you end up getting another 360k out of yours!

[@bernibeckmann9753]

Ugh we live in a culture where pointing out the obvious can be rewarding. So many people have been conned (marketed to and socially engineered) Oh man, I'd hate to be married to somebody who doesn't get it.

[@VictorKB96]

I'm so happy to live in Europe, where it is very easy to live without a car! Even though wages are not as high as in North America, you can save a lot. I really hope North America can be like that some day. Also, without owning a car you don't have to worry about repairs, insurance, parking it, traffic fines, inspections... That's true freedom

[@susiex6669]

North America? I live in Montreal and have never owned a car. Never seen the point.

[@VictorKB96]

@@susiex6669 I meant North America in general. Not all places in there are necessarily the same

[@wturner777]

@@susiex6669I’ve stayed in San Francisco and I never needed a car to get around.

[@susiex6669]

@@wturner777 Cool. I was in Toronto a couple of months ago and thought their subway line was pretty good too, considering I was staying in North York and going in to town every day. Also cleaner and cheaper than my city.

[@cb7560]

Most North American cities used to have decent public transport from Victorian times onwards, trams etc. It was scrapped in the 1950s and 1960s under pressure from auto makers, oil companies etc. Look-up what happened to thee old LA streetcar system.

[@richardross7219]

As a typical teenaged boy in the 1960s, I learned to work on cars myself. I have always bought used cars cheap and fixed them up. Taking good care of them gives many years of reliable service. I have never had a car payment because I paid cash. I am now retired and want a pickup truck again. I looked at new. They are UGLY and cost more than my first house. I will rebuild my old pick up truck this summer and end up with a better truck than what is sold now. Now days, I could make money fixing up old cars and selling them for a big profit. Unfortunately, in my area, the government uses very corrossive road salt that eats car frames in 8 years if you don't wash under the car frequently. A big problem for auto repairs these days is that many new parts are defective(made overseas). Old cars save on insurance(don't need collision) and taxes. You have given very good advice. Most people are lost in life. I disagree, some girls judge guys by their cars. Of course, when they reveal this, they also reveal that they are just gold diggers. Good Luck, Rick

[@Steven-ox3rm]

I agree todays pickup trucks are ugly, honestly it looks like a 3 year old is designing them lol.

[@richardross7219]

@@Steven-ox3rm I've got an 85 C-10 and a 55 3600 to restore, along with 100 other projects. Good Luck, Rick

[@FollowmedowntheNumberWhole]

How hard is it to learn to do basics beyond checking oil for beginners?

[@deathnsd6953]

304s

[@roberthines4882]

THERE ARE ALOT OF 1975 CHEVYS OUT THERE THAT ARE STILL GOING STRONG AND THEY APPRECIATE EVERY YEAR!!!!!!!!!!!!!

[@JosefMarc]

My accountant has a lot of money and never bought a new car. I followed his lead, bought a used Land Rover, and 19 years later it's got another decade or so left in it. And I'm living on my retirement funds now. Nicole, I hope lots of people watch your video.

[@seltzermint5]

One of my friends is a bachelor who is good with money (no kids, higher income) and he just bought a 2021 Subaru with cash. It was not cheap of course but had only 11k miles and he's thrilled with it...exact color and special edition he wanted in 2021 but waited. So no matter what he paid, I'm sure it was so much less than getting it off the lot in 2021!

[@Ynalaw]

Land Rovers are probably the biggest waste of money.

[@timisaac8121]

@@Ynalaw why you say this to a guy that plans to run it for 29 years? I have no idea what it means "Land Rover"- but I know how long 29 years is for a personal vehicle.

[@BestShootermanUbz]

@@timisaac8121Land Rovers are expensive and unreliable. Probably one of the most expensive cars to repair. The fact that it is 19 years old is a miracle in itself.

[@JosefMarc]

@@Ynalaw I live in a hurricane zone and chose a car to suit my surroundings. I also play upright bass, and it fits. I hope you can agree that Nicole's advice is good for all of us regardless of our make and model car choices.

[@cathyn7640]

I drive a 2002 Rav4. It's dented and not pretty, but it gets me where I need to go. I think your Rav4 is gonna be with you for a long time.

[@andoncroft]

Nicole is ADORABLE 😁

[@talus007]

People DO give shit about my car. It’s beat up to the point that it lends entertainment value. So I’m not only saving money, I am Bringing the joy of humor to those around me😆

[@brendareeves2593]

I love to drive, but hate car payments. I moved to Mexico three years ago, sold my car and walk everywhere or take public transportation.

[@daminh9245]

I once got a car note when I was 19 and the only thing I cared about was could I afford the monthly note. As I started learning financial literacy it made me sick how much I actually ended up paying for that car. I’m 35 now and I’m still mentally scarred about that. Lol. Never getting a car note, lease or anything of the sort.

[@seltzermint5]

I saw a short video recently with young people (I'd say between 19-25) working in a car dealership and they answered what they drive and how much their car payment is. Most of them paid between 500-1200 per month for their cars and clearly they found that normal. Not my place to judge them but I wondered A - how many of them live with their parent(s) and B - how many of them are saving any money at all.

[@PhillipDeGraves]

Bought my first car in 2020, a 2016 Altima for 12k with 75k miles. They gave me a 16.89 interest rate. Read the papers after I signed and it showed over the course of the 72month loan the car would be 19k even after the 2k down payment, I'm 4 years in this loan and should be done in 3 months...

[@deathnsd6953]

lease can make sense in some instances

[@HopefulEmpath]

I can relate to feeling sick about the car financing. I remember buying my 1987 Pontiac TransAm and paying $419.02/month for it. It made me nauseous and I vowed to never be that dumb about my money ever again. I abhor paying interest. I never bought a car to impress ever again.

[@JubeiKibagamiFez]

That's the thing... It's even worse when you know full well a car loan or a lease is screwing you, but you have no choice because the money to buy it outright just isn't there. I dreaded getting a car when I was young because I knew it was gonna kill me, but I didn't have any savings that could cover a buyout.

[@artbrutnewyork]

Spot on commentary. Sadly, in low-income African-American communities this problem is common. Buying high-end cars with massive monthly payments to impress people. This prevents them from building wealth to invest in real estate, start businesses, and grow assets in order to create generational wealth for their families. By the way, loved the “car talk” sequence of edits….nicely done.

[@timdowney6721]

Same happens around military bases.

[@donnab2810]

Bought a Toyota Corolla brand new in 1994. Had it until 2007. Had someone back up onto the hood in 2005 and it wasn't the same after. The transmission went out and I couldn't afford to fix it so i donated it. I cried when they towed it off. I didn't replace it until I got remarried in 2014 and paid cash for a used car. I was lucky enough to live in an area that was close to everything I needed with a good public transit system. We traded in our car for a new one in 2016 with a hefty down payment. It was paid off in four years and we still have it. We take great care of it and will keep it till its end.

[@DealArtist824]

Just found your channel last week and have been binging them. Thank you for your authentic perspective and esp for not being one of the youtube 'financial' channels trying to sell a course, lol. Love your great advice for us normal people!!

[@Eiriririruttitjejri]

Same here. ❤

[@AccordingtoNicole]

lol I have no course to sell. Just trying to help people avoid getting scammed. Thanks for being here.

[@hkkl1314]

The 'new cars have a higher car insurance cost' point cannot be overstated either. I used to work in insurance... people who always drive cars 5 model years or newer, and cause crashes all of the time, and roll their car debt into new cars after they crash, and rely on car insurance like it's the fairy godmother that TV ads would leave us to believe it is... they'll be in deep debt forever. That's a great way to never be able to save. I've seen households where they pay $1500/mo in car insurance on two cars... Craziness. All their discretionary income on car-related costs. I think it speaks to the madness of having a car society in general - It's a great way to keep a population in debt. Mandate ownership of a complicated machine that consumes an expensive fuel and is always rusting and at risk of being wrecked by some idiot you may have the misfortune of being next to at a stoplight. There will always people some people who aren't competent drivers and/or don't prioritize others' safety. I'll keep my 20+ year old economy Toyotas !

[@TylerG7777]

Nicole, just love your videos. They just resonate in a way that so few other personal finance channels do. I drive a 2015 BMW 328i sedan. I love it! But I bought it used (excuse me, “pre-loved”) on Carvana. . Had 25,000 miles on it and I got it for half of the original price. Paid it off in 1 year. I have driven for years now and it’s has 110,000 completely trouble free miles on it. I will drive it ‘till it drops. No car payments for 4 years. I save and invest. My family lives debt free except for the mortgage. Expecting to retire in 2 years…or less. Nicole, you are the true voice of wisdom.

[@rickcooper156]

Ive taken Minimalism to the extreme and have never been happier! 5 years ago, I left an abusive wife and a beach house to move into my 2004 Toyota Highlander. My SUV has over 500,000 miles on her and she runs like a Top! It's what I use to make money and my Micro Home! My expenses are so low that I can't believe it. I travel at will and spend a ton of time on Life Experiences and time with my Loved ones. Im debt free and make more than enough to cover my low expenses with plenty left over! I hope that more people discover this wonderful Lifestyle and litterally Save themselves! I can cover all of my expenses on much less than $500 a month! Thank you for sharing your wisdom with us...

[@TheRetroBookshelf]

This woman is as Legit and to the point as you can get. Love her. PREACH 👍🏼👍🏼👍🏼👍🏼

[@johnc2438]

Go for it, girl! I'm a 75-year-old Boomer who has always hated car payments. I buy new but drive the heck out of the car and keep it running for years and years. Right now, my wife and I are proud owners of a 2007 Honda CR-V. We keep it maintained (couple of weeks ago had a nail in the left-rear tire and had the tire repaired) and actually parked in our garage (so many expensive autos are in driveways because the garages are full of other "suburban stuff." We are now laughing (to ourselves) over a "proud" couple across the street who traded in a bought-new Mercedes SUV for a new Fisker Ocean EV. My wife noticed the other day that the wife was having an energetic conversation with her husband over the key fob not working to allow her into her vehicle (version 1.0 software, I've learned from other KZbin reviews, is "buggy"). The husband had to perform some magic to get the door to open (BTW, the Fisker comes only with one fob!). This vehicle (the model they purchased) last year was selling for upwards of $60 to $70 thousand. Now it's selling for half that! They wanted to be the first on the street to own a Fisker. Now that the company has gone bankrupt (they closed their Manhattan Beach, CA HQ late in May 2024) and is laying off almost everyone -- including those IT people needed to upgrade the software to get those key fobs and other promised goodies to work properly) -- I believe this couple will have purchased the last Fisker on the street! Hope they keep making their payments to the bank when their Fisker Ocean takes that final deep-sea dive! What a waste of money we see all over our suburban neighborhood.

[@GettingItDoneRepairs]

I'm in my 50s, made many mistakes when it comes to vehicles. But I learned and you are 100% correct on every point in this video. It's all bs. Find yourself a good used car people and live happier.

[@Torgo1969]

Function over fashion is the way to go. "A self-sufficent ego. Nothing else matters."

[@RTMonitor]

Yes! Spread the message!

[@Giardintek]

Thanks Nicole, as a fellow Canadian and a former car dealer, I can tell you that most vehicles depreciate the fastest in their first 5 years, and depending on the make, it continues to depreciate. The absolute worst are European, luxury cars, then large SUVs, like Jeeps. another stupid buy is a pickup truck, unless you are working in construction or a landscaper, why would you need one? because your dad and grandpa had one and you are sitting 5 inch higher than the other guy? Also if you need to finance a vehicle, you can't afford it, period! Let's face it, most fancy cars on the road today is not paid for. Dealers and banks are making a killing on ppl who finance. Often enough, by the time you pay that thing off, it's worth nothing. When you lease a car, it remains on the dealer's name and the dealer requires you to get full coverage insurance on it, which he can use for claims, but you are the one paying the monthly premiums, plus the payments, plus gas and everything else. I know ppl whom pay $1000+ monthly for their car/truck. I also know ppl who crashed their car and it is now undrivable, but she still has to make the payments on it. The best vehicles are the reliable brands, when obtained used, like 5+ years old, and paid in full. If you have a small business and need to carry a lot of crap, get a van or a small SUV like the one Nicole has. That RV4 will easily last her half a million miles+, if maintained correctly. We have a 10 yo Honda Accord with 200k miles on it and it drives flawlessly. It is also fully paid and gives me no surprises, Good on gas and gets me and my family from A to B in relative comfort and safety.

[@yanekrolling7202]

As a Sales Manager for a Toyota dealership, I love this video. I am debt free because of people wanting to be in debt buying vehicles all the time. That Rav4 you have will last another 10 years easy. One point is to remember that all cars are not built the same and to have the lowest cost of ownership long term, reliability is key... there is lots of 3rd party sources for this, but Honda and Toyota are your best options for long term ownership without expensive repair costs

[@kesayo]

I agree with you on Toyota. They are designed, tested and built to last well beyond the warranty period. Honda, on the other hand, not so much. They will last if you take really good care of them. But if you don't keep up the regular maintenance they will die prematurely. Especially their engine is prone to failure. But if you think about it, Toyota is being stupid. Why build a car that lasts forever? Build one that breaks down after the warranty expires or requires you to shell out a ton of money in maintenance.

[@AccordingtoNicole]

“I am debt free because of people wanting to be in debt.” Nailed it.

[@Torgo1969]

My 2003 Camry lasted only 17 years and 170,000 miles, and needed a new transmission after 5 years, only 3 months after the trans warranty expired. The dealership where I had all my maintenance done gave me a discount on the new trans, but that was NOT what I expected from an allegedly sensible and durable model of car. With all due respect.

[@BrianK-zz4fk]

alot depends on year made as well. Not all are the same.

[@Torgo1969]

"I am debt free because of people wanting to be in debt buying vehicles all the time." "The verdict you pronounce upon the source of your livelihood is the verdict you pronounce upon your life. If the source is corrupt, you have damned your own existence. Did you get your money by fraud? By pandering to men’s vices or men’s stupidity? By catering to fools, in the hope of getting more than your ability deserves?...If so, then your money will not give you a moment’s or a penny’s worth of joy. Then all the things you buy will become, not a tribute to you, but a reproach; not an achievement, but a reminder of shame."

[@ekucolonel1]

You know Nicole, I have been listening to you for around a year. I find that most of what you have to say is extremely helpful for anyone young enough to do the things you are saying. Even if you are older applying these money saving ideas is a great thing to do. Like this one. Buy a car you can afford for cash. Buy a good used car you can drive for years. Invest your money to have passive income to allow you to retire sooner. My advice to anyone who reads this is to listen to this valid and worth while advice. I'm 67 and want my children who are 40 and 38 to listen to this advice. I hope hearing it from someone other than me, who is close to their age (albiet younger) might influence them more than I can. Start as young as possible and make the right decisions so you can have a stress free future. It isn't hard if you can control your urges to buy shiny stuff all the time. You can still have nice things. Just buy them with intent and save and invest for the future. It will get here so much faster then any of you think! So, Listen to Nicole.

[@seltzermint5]

This is a cool perspective IMO. At 47 and married with no kids I am still kind of in the working years and unlike much-younger Nicole I don't care to retire anytime soon. But it can be really nice to hear fresh ideas from someone younger who IS already on the same page in most ways when it comes to money, finance, and overall lifestyle. I certainly appreciate it.

[@eyesuckle]

This video speaks the truth. I've always been a pretty low earner--mostly because I insisted on pursuing a career in the arts (not recommended). And yet, I have always struggled far less to meet my basic financial needs than most of my peers, most of whom earn twice what I do in a year. The difference between me and them? A bicycle (which I maintain and repair myself) has been my main mode of transportation for my entire adult life. I only owned a car--a 20-year-old junker--for a period of six months when I had to commute to and from a job as a commercial painter. When the job was done, I gave away the car (which I also acquired for the low, low cost of zero). And yes, I rent an Evo or take the bus or an Uber when I have to arrive somewhere NOT drenched in either sweat or rain. Or need to purchase some object too big to carry home on a bicycle. The people I know who are the most deeply in debt insist they cannot--or are simply unwilling--to live without an automobile.

[@BorikenWarrior]

Another great video. I retired at age 48 (I'm 64 now). I own my own home so no mortgage or rent (it's a crappy place but it's mine). As for my car, I keep getting people telling me that I should buy a new car. Why should I? I own free and clear a 2003 Toyota Corolla. It is now 24 years old and it has had it's problems here and there but I pay for the repairs and move on. No big deal, the repair costs do not even come close to what I would be paying monthly for a new car. Many of these people are the same ones who have been telling me to sell my comics for decades. In a bind? Make some quick cash, sell you comics. My thought process. I sell the comics. The money is gone in a blink of an eye and I then no longer have my books. Why is it that people always now better than you. LMFAO! Either way, my car registration PLUS my yearly mandatory car insurance comes out to a combined total of $133.00 per year. Try and beat that with a new car! You can't. Am I frugal? Well, my wife and I like to think we are cheap ass. Either way, no monthly car payments + no monthly rent/mortgage plus really low car insurance = my wife and I eat dang well. I am in 100% agreement with you. Keep up the great videos. Some of us are actually listening to you.

[@yessanknow302]

A 2003 car is not 24 years old.

[@LarkinLivesayJr]

Absolutely true. I haven't had a car payment in decades. I've always driven older cars. Sure, there are repair costs, and sometimes you just have to get rid of the car after it's worn out. But still the cost is way less than always owning the newest vehicle out there. I have a 2002 F-250 that I bought for $3,000 just before trucks went sky high and it will do the same work as an $80,000 truck. Yes, it's got rusty places, it's loud and definitely used, but I bought it with cash and don't owe enormous monthly payments. It's about time to get rid of the 2008 Mercury Mariner, but we only gave $6,000 for it about 6 years ago, so even if we give it away it only cost about $1,000 a year to own besides normal maintenance. We both work and can buy new ones if we want, but we would rather spend the money on vacations with the family. I know vacations aren't an investment money wise, but I have never regretted a vacation with the family. Don't wait until you retire to live. Who knows if we even make it that far. My neighbor just retired, built a very nice workshop to enjoy and passed away as soon as it was built. Spend time with your loved ones now. Ok, got off subject. Sorry.

[@seltzermint5]

I have purchased one car new, in 2006. It was a very cheap Kia hatchback and I traded in a dying Ford Explorer, so my payment was barely over $200 which was extremely easy to swing. I paid it off early in 2010 and to my great surprise, I am still driving it to this day! With that said, my next car will not be new and I'll pay for it in cash. I'm hoping to drive my current car for 20 years though I think that will be kind of a hoot. I do think in SOME professions your car is important, sadly. I know people who work in real estate and need to transport clients a lot. They couldn't really do that in my tiny 18 yr old car, people would think they did not have their act together no matter how clean it is inside and out. Although obviously they do not need to have a brand new luxury vehicle, either. For years my mom would trade in for a new vehicle every 2-3 years and she literally threw away many many thousands of dollars doing that. Now in retirement she has finally started to develop better habits with money. I am learning from her mistakes and from channels like this, for sure. I won't be in that position. This is silly but I laughed out loud at "car note", I have never in my life heard anyone under 60 use that expression and I really thought it was more of a Southern or Ozarks thing here in the USA. Very surprising to hear it from a young Canadian woman!

[@JasonOwen-xe4gz]

Girl you kill me with the facts. Unfortunately here in America the car culture is so ingrained in our lives we wouldn't know how to get out of it!

[@alejandrorocha9632]

Anyone else drive a real beater here? I bought a 1992 Toyota Tercel in2013 for $800! I’m still driving it to this day!

[@seltzermint5]

Not quite but I find that so cool! I'm driving a 2006 Kia hatchback I purchased new, and have no plans of getting rid of it until it's "dead". 18 years so far.

[@Torgo1969]

Great for you! My Camry that I bought new only lasted 17 years and 170,000 miles. I think I got royally screwed, because I bought that model specifically because I wanted/expected longevity if I treated it gently.

[@alejandrorocha9632]

That sucks. What went wrong with it? I think cars tend to last longer in milder weather- I’m in CA

[@HopefulEmpath]

I was driving a 1994 Geo Prizm (a Corolla really) until last October. It’s seen better days and even with regular maintenance, my 29-year-old car wasn’t going to take me through to today without putting $2K+ into shocks, heater core, brakes, and more. Plus I needed something higher off the ground and with more airbags than just 2 in the front. It served me well over the years with minimal problems but I had to go new. I spent 6 months researching and car prices were nuts! I had money saved and decided to put that down on a newer car rather than throw it into the Prizm that valued at $500 tops. This will be my last car purchase anyway…I’m older.

[@alejandrorocha9632]

@@HopefulEmpath $500 seems like a Kelley blue book made up value- were I live the state of CA will pay you 1,000-1500 dollars to retire your old car as a clean air act incentive or whatever. That’s why you will not find any old beaters for less anymore

[@cfc1001001cfc]

"Don't Buy A Turd"...words to live by! 😆😅🤣

[@Wildknaap]

You sound like a Dutch person, and that is meant in a good way. ❤ None gives a shit in the Netherlands which kind of care you drive. It’s a mentality.

[@Pondapple]

You can pay cash for a bicycle.

[@bb_lz9790]

You being you is what entices me to watch more of your videos! My wife and I are currently sharing our 10 year old car. My heart and impulsive side would like to own another vehicle, but my brain knows that it makes more sense to own just one. We're retired, so it's simply a matter of coordinating our schedules for appointments and such. I just need to have a constant dialogue with myself to remind me... Public transportation isn't an option and I've only used a ride share service once. We've purchased somewhat expensive new cars in the past, but have generally kept them over 10 years. Several have had 0% financing through the manufacturer. The car I mentioned was purchased new as we found that, at the time we were shopping, the brand new version wasn't much more expensive than a recent model used one. My parents never took out a car loan, so I think I'm the first generation in my family that has financed a vehicle.

[@alistairrobinson3865]

Key takeaway = “Nobody gives a shit about your car” Response = We all write here telling you about our cars 😂😂😂

[@deezed150]

Not exactly true when you drive a Lambo

[@francoisgirard2306]

You 2013 RAV4 can easily last another 15 years is well maintained. Personally, I would keep it until the wheels fall off.

[@RealBoiJare]

I have basically the exact same one. It’s a 2015 that my Dad bought for me. I have 154,000 kms on it with no issues and plan on keeping it till the wheels fall off. Great vehicle. It’s nice knowing the entire history of the vehicle rather than gambling on another used one which someone might have not maintained or treated well. If I was her, I’d keep it too. She paid a good price for it

[@hcasavantes]

I totally agree! I’m still driving my 2011 VW Jetta, and still I think I paid too much for it 13 years ago when I bought it new from the dealer. But hey, it still smells and feels like new! I’ve kept up with the yearly maintenance, always park it in the garage, and opt to walk, use Uber, or public transportation whenever I can. Fortunately, that’s easy where I live. Plus, for those of us living in big Latin American cities, having a low-profile car isn’t just economical-it’s practical. It helps you fly under the radar from both robbers and the occasional corrupt cop. Stay safe, solvent and savvy, folks!

[@seltzermint5]

I feel this way too even living in a relatively safe city in the USA. No one is checking out my little 2006 hatchback car for theft. My stepmom used to drive her 1994 Buick Roadmaster to work in 1995-1997 to a very rough area and people keyed it and slashed her tires, someone smashed the window to steal her speakers (factory, nothing special). It was not even a Mercedes or anything, just a newer big car and it was targeted.

[@tom1600x1050]

Your analysis is SPOT-ON. Cars are expensive. They burn through our discretionary income. I've never owned a new car. The ones I've bought are usually 5 years old or older. Today I own a 2014 Toyota Prius with 100K miles on it. It runs. I live near a small town where I can walk to most things. I try to minimize driving. I don't care if it gets dinged since I'm planning to keep it until it is junked. Because it's a hybrid, it gets good gas mileage. Plus I live close to a train station. Nevertheless, repairs are expensive and I almost always do what the mechanics say every time I take it to them. I just don't want to have the car break down on the highway. It would be better for all of us Americans to move to public transport -- light rail, buses, trains -- since they're way more efficient overall. Unfortunately, there are many things that we can only get to by car...

[@sevenmadmonkey]

Nicole spitting facts again. You ma'am, made me count actually. 17 years old Fiat here, bought 2 years ago, all maintenance and service were below the estimated value, the mechanics were more surprised how simple it is to fix everything on it.

[@myrtle471]

I have a 2007 Honda CRV I bought used with 36,000 miles in 2010 for about $20,000 cash. It came off a lease and had been exclusively serviced at the dealership, so they had all the service records. I’ve probably put about $5,000 ($1,800 in the A/C because I missed the recall - stupid move) in maintenance and 2 sets of tires. Has 175,000 miles on it and I’m going for 250,000. I do like the color, though! I have saved enough to buy my next car in cash, so I’ll continue to have no car payment. I’m 58, and it will probably be my last car, because the older I get, the less I drive. It’s wonderful not having a car payment. Have your mechanic check out the car you’re looking to buy, or get a good warranty from a dealership. Have the current owner make allowances for the things that need fixed or have everything fixed before the warranty is up. Very important. If you absolutely need to borrow, take out a loan from a credit union. They have better rates. Put as much down as possible and make sure the payment is LESS than you can handle so if something happens, you may still be able to handle it. As the police chief on Blue Bloods said (his name escapes me, but he’s played by Tom Selleck sp?)to his grandsons, “Always make your car payment before your rent because you can live in your car but you can’t drive your apartment to work!”

[@FaridJaafar]

Never had to pay monthly car payments. Always felt I can't afford new cars. But because of this, the experience I have maintaining my cars throughout the years makes my current 20 and 30 year old daily drivers almost like new which gives me more gratification than any new cars would!

[@pilauopala843]

This is totally spot on! I’ve been preaching this for a long time. Lots of people I know complain about being broke while driving luxury cars. But their identity is so wrapped up in the car they drive. But ironically, nobody cares.

[@KYShepherd]

I agree completely. Vehicles are a huge source of unnecessary expense just like unnecessarily expensive housing. Get out of debt, buy some land (they're not making any more of it), build a home, buy used vehicles and SAVE. It's working for me. 20 acres on a river, building a cabin and I have 3 vehicles (paid for). I'm not "rich" but I don't feel very poor either and life is good.

[@RTDoh5]

I have a 2003 Honda Civic LX with slightly over 200,000 miles on it. I plan to keep it as long as possible. Cars do not need all these bells and whistles. The only 2 good additions to vehicles is backup cameras and Bluetooth.

[@CZsWorld]

I agree that cars are a stupid expense, but you're missing the superior solution: ride a bike. No gas, no insurance, no registration and no peloton needed.

[@edwinsim7206]

Bikes are a great solution if not for fear of being hit by a reckless or careless driver. You may be the most careful rider and still get hit.

[@PennyPowell-fr9ec]

@@edwinsim7206 Absolutely! Unless you live in a city with excellent bike lanes, and a healthy respect for cyclists, it is super dangerous to bike to work. I'd love to be able to, but my job is 12 miles from my home and it would take me 6 months to get in shape enough to get there, and only if I survive the motorists on the road. Not to mention inclement weather.

[@user-cp9yo4jk9b]

@@PennyPowell-fr9ec getting in shape is a much better financial investment than free transportation. hospital bills make car payments look like a joke

[@edwinsim7206]

@@PennyPowell-fr9ec Might be a better alternative to bike during the weekends on safer routes of your choice. There are a lot of distracted, reckless drivers on the road these days. Sharing the road with them could be pretty dicey. Stay safe and healthy.

[@billwoods5406]

I really wish I could ride an electric bike where I live. Unfortunately the brainless punks in monster trucks think it's funny to run over anything in their way. Rural America is not a place for bikes.

[@jimsweeney7339]

I bought one new car in my life, back in 1984. Not because I can't afford it but because of many of the issues you raise. Higher price insurance, car payments, depreciation etc. Now I would never buy anything unless it was 5 years old or older. I keep them until they drop and as they get real old, some issues do arise with maintenance but my lower insurance payments alone over the years pretty much offsets it. Also, as you point out, when I average out the total cost of the vehicle for 10 or 15 years (yes, you can easily get to 15 years and beyond) the price per year is less than one or two months payment. I have had people talk about leases which are an even worse idea when you do the math, down payment on a lease. wtf???. In any event, one other area to save with your vehicles is maintenance. If you are even somewhat handy with making things, repairs etc. you are capable of changing oil and filters yourself. Honestly even brakes are not bad when you consider the cost of a shop doing them. You have to invest in some tools and jacks but I have had mine since the 80's and literally just did a brake job on my truck a few weeks ago. All 4 wheels where quoted at approximately $800. Total cost to me was less than $200 and a few hours work. If your unsure how to change the oil or fix a light there are many you tube channels that will show you step by step. I think cars are a necessity depending on where you live but the cost can be held down if you give it some thought.

[@victoriaschwarz6972]

I haven’t had a car in 22 years, which means I walk more, take a bus or Uber. I figure I have walked so many more miles because I don’t have one. I figure in 22 years, I’ve saved about $120 k usd. Liberation!

[@Spot4art]

Bought one car with a loan in 1975. Kharmman Ghia. Paid it off, got totaled in a snow storm. Last car I ever bonded with. It was used when I got it. Fast forward… every car since was used, paid for in cash, kept it until it rotted out. Currently we own. 2002 Camry and a fully loaded 2007 that we will drive until it is dead. Most luxurious car we ever owned. Purchase price new was 40,000. We paid 8,000. 3 yrs ago. ❤️ we are debt free. Listen to this woman…she speaks the truth.

[@FidelCashflow13]

Great video Nicole,It makes me furious daily that they never invested in any kind of Public Transport system in the U.S. We need it very badly,Im tired of owning a car and paying Insurance,Gas Maintenance etc.

[@marusholilac]

In addition to license fees, my purple state of Virginia allows the counties to charge annual personal property tax on vehicles. My county is typical, charging 5% of the value of your vehicle. Thus, a new $60k car, in addition to costing the state sales tax of 4.15% or $2490 (small), will require another $2672 (small subsidy for personal use) the following October. If the vehicle is the property of a business the rate is about $3026. Old cars valued at $3000 pay a minimal county tax. A positive aspect to going into debt to buy cars is that it raises your credit score and, as explained to me by two of my insurance companies, lowers my (wait for it) homeowners insurance rate, in addition to my vehicle insurance rate (in lightly-regulated states, like Virginia). For any financial decision you make, there is a company out there which will parlay that decision into a reason to take money from you. When I became debt-free I received notices of adverse rate decisions from 2 insurers based on their lack of ability to monitor my reliability. My FICO 9, of no interest to insurers, remained 826.

[@BrookeKnits]

Yes from VA and paid extra tax bc I had a hybrid and therefore paid less gas tax smh

[@xkristixx]

I'm 31. Owned 2 cars and never had a car payment. My first car I got at 17 was a 2003 Chrysler Sebring for $1700 from my dad's co-worker (with money saved from work and savings account). I drove that car into the ground, even spending like 2k on a transmission as a last ditch effort. Then, the second car I got when I was 22 is a 2015 Jeep Patriot for roughly $15k. Not gonna lie, my husband helped me pay for it, and I put down all I could, but never had to take out a loan! It's still going strong! If I had to buy another used car at the moment, I could also do so without needing a loan.

[@HealthyKS]

I drive a 2015 Toyota Yaris with 44,000 miles on it and am grateful every day that it's paid for and reliable. I plan on keeping it for many years. It was one of the better financial decisions I've recently made.

[@X.MillennialResponder.X]

I've been saying this for years: part of the wealth my wife and I have built comes from sharing one car for the past 15 years. It was both one of the best and worst decisions of my life. We bought it brand new, which I regret, as we should have gotten it used. However, we paid it off within three years, and at the time, our monthly payment was about 40% lower than others'. Recently, we inherited a newer, fancier car from my aging parents who can no longer drive. We'll potentially keep this car for another 10 years. The extra $400 we saved during my teenage years, compared to my peers, was invested. I've always invested more than 10% of my income, and today, about 40% of our income goes to savings and investments. Among our friends, we're the only ones who did this. Most of them have had 4+ cars in the last 15 years and often complain about money and the difficulties of owning a home. In contrast, my wife and I shared the same car for over 15 years and are now preparing to sell it, as we have this inherited car. I think the only time we'll purchase another car is when we're heading into retirement, and this time, we'll buy it with cash.

[@MoneyMindsetCoach3]

Cars in the US are out of control. My grandfather, who lived in Chicago, had a car that was only driven to go to church on Sunday. He used public transportation and walked when possible. I know he lived in the city, but how many of us today who could use public transportation would when you have a car?

[@nibekus]

I bought a 2008 Subaru WRX back in 2016 and made monthly payments. I realized after purchase that it was a mistake to finance it. It was a 5 year loan and paid it off in 4 years. Since then I have stayed with the car and stayed on top of my maintenance. I'm sticking with the car until the wheels fall off. I'm done with car payments. Next time I'm paying a car upright with cash.

[@xcaret-ns3pb]

👍👍🙏

[@alpinegeordie]

Great vid, My old Nissan has done me good its a 7 seater and i have used it to schlep toursts to my Airbnb properties in town from the train station ( for free. 24 /7 ) this was my secret sauce not to mention a good acoustic guitar in every listing ! I even sacrificed my Takamini in one listing where I would live when vacant.We are all retired now and I am hanging up my driving gloves for a travel pass, so with 2880 stops/stations in the whole of Switzerland i will now be able to travel by boat , train bus and a pile of cable cars .... for the price of 9 USD per day. You have to realise that the only guaranteed thing in Life is Change One of my saving tricks is I round the price of everything i buy up to 100 swiss franks meaning i come home with a lot of cash, which goes into my piggy banks .... this is my future tax ! have a good weekend Bill Weir

[@jeffreyarbogast4735]

Superb advice. Simple . .to the point . . accurate . . and very helpful. I will be passing this on to my friends and acquaintances . . .

[@inercia2002]

So incredibly on point. Buy smaller and buy reliability and buy used. I think it should be said that the path to buying a used car can without payments means the action you have to take is to save up first. Trade in your too big too much gas using car you have now for a car that is smaller and costs less and then roll in the extra you had been paying to savings or paying off the new smaller car faster. I would like to see a video comparing total cost of ownership of a civic to teslas however since some new surveys point to a shift in a lower total cost of ownership lately. I do wonder if that's a new vs used comparison and wonder what used brands total cost of ownership would be compared to new.

[@67NewEngland]

- I wife has the same RAV4 . We bought it used with cash at dealer months before the covid car price explosion. My car is a 11 yr old CRV. You’re spot on. Making a wise car purchase is a big key to financial freedom. It’s just a tool friends.

[@R1ch4rd74]

i bought my 2008 ford escape from my nephew AFTER he rebuilt everything in it for $4,300. it runs fine. plus i will NEVER EVER buy a new car. it just doesnt add up. cars are transportation. NOT an investment. as far as Starbucks goes. i buy it at a huge discount by the case off of Amazon for #30.00 per case at 2 cases a month which equals $720.00 a year compared to the daily $6 i REFUSE to buy equals $2,190 a year. buying in bulk DOES save you a lot of money. i also got a subscription to pay even less. so my $720 a year -30% discount is actually $411.00 per year. it is the 1 think i treat myself to every other day.

[@mi-da2920]

This is why I refuse to sell my 2002 Toyota. It's in great shape and has never given me any problems. I haven't had a single car payment in the last 7 years and have been very happy not having one. If something were to ever happen to this car, I'm buying another beater.

[@Torgo1969]

You got lucky, or I got unlucky. My 2003 Toyota lasted only 17 years.

[@alexandru5369]

Yep

[@qq84]

And if you want to drive a new car, leasing is probably the better option for you. It's still a lot more expensive then her suggestion but at the same time it's cheaper then buying a new car, because new cars depreciate in value very quickly.

[@lovelylady81]

I own a 22 year old Toyota that is a beater but works well. I don’t care what people think cause I love how cheap it is.

[@Jawesome1Shazam]

Me with a 25 year old Toyota truck that I paid cash in hand for that's a 4x4 and lifted on 33 inch tires: It's so much easier to do proactive maintenance on it and occasionally replace a major component. I've learned so much about vehicle maintenance from it. I've put money into my truck to keep it running, but again, still cheaper and more affordable than buying a brand new vehicle. The people in power who tried to force us to buy new vehicles and go into debt forgot that peak car culture and manufacturing was the late 90s/early 2000s. Those of us still keeping vehicles alive from then are getting the most joy out of our vehicles. Oh, truck broke down? Let me bust out my tools! This is gonna be fun and take up a weekend. Then I get it running Sunday evening and take it for a spin around the block, and my morning commute on Monday is pure joy with a sense of accomplishment. No one else needs to think my truck is cool, I think it's cool already. So no payment, but I spend that money on... home and vehicle upkeep, food, medical expenses, and the expenses involving my pets. I got extremely lucky, I found a truck I love for a hell of a deal. I then spent years just working and saving as much as I could with tons of mandatory overtime, just beating my body to hell and trading it in for money. Then found a home with a hell of a deal I was able to afford. Now I'm just semi-retired and took an easy job that pays me enough to keep my lifestyle going and I'm only 35 years old, still single, but I got my slice of paradise with no rent, no mortgage, cheap property taxes. I have insurance so if my house catches fire because I live in such a dry area... then as long as I get away with my dog and cat in my truck, I will never have to worry about all the junk I've hauled around the country with me again! It feels so weird not having to worry about the things I used to, like paying rent, all those bills from living in a city, etc. I have a woodfire stove or a forced air propane furnace I can heat my home with. When I get too hot, I just open a window. My only consistent utilities are internet and electricity, and property taxes are cheap. If I don't want to pay for the propane tank to be filled I can go pay $40 for a permit to pull a whole chord of wood out of the forest where the loggers leave huge piles of wood for us. Takes me like 6 trips with my little truck to get it all, and that's a hell of a lot of wood to heat my house for the 8.5 month winter we have. I am by no means a minimalist, but I don't live my life in excess. I don't even have to drive to go hike the backcountry, there's a hole in the fence around my rural community for us to be able to just fuck off into public, national forest land. I used to be huge into cave exploring, but now I'm having so much fun on my time off from work just taking the dog out and walking around the mountains and canyons that surround me. Then I get home and no one delivers to me from anywhere, so I have to grocery shop and stock my home for me to cook myself. The convenience of spending money and having someone else make my food or my coffee just isn't here at all. When I lived in a city and tried to cook at home I'd get hungry and just be lazy and eventually go out to eat or get delivery sometimes. Now when I get hungry I think the only way I'll get fed at all is if I start making it myself, it doesn't feel like a chore. It's weird, I somehow used my geographical location to vastly change my lifestyle and I'm saving a lot more money than I thought I would be from my job. Maybe I'll convert my shoring sheds that came with the property to indoor hydroponic gardens for personal food production (it's really dry where I live and we only get precipitation in the form of snow during the winter) so all I would really need to do is just buy my meat and I do want to get into hunting elk and deer eventually, but do it in a fair way where I am never guaranteed to even get one for an entire season. It's weird, my mom thought I wouldn't be able to handle living out here and all I am thinking about is how fun this all is. The challenges to existing here are the very challenges I apparently need and thrive under. I guess in cities I was not realizing I was trying to follow all those who had no fucking idea what they are even doing. Now I'm in a place where I need to have somewhat of an idea of what I am doing. I'm so much happier. I never thought I could exist in the state of so much less worrying. Life is still coming at me, it never. fucking. ends, but it seems so much more manageable. I never realized how a little self-sufficiency can go such a long way toward improving one's life. We'll never be truly self-sufficient, we live in a society. But having that bit of agency, my god, it's like we're supposed to.

[@marcusmoonstein242]

I was surprised when I first noticed one of my tenants driving a much better car than me. Nowadays I'm not surprised anymore.

[@HipHopBeatSource]

I'm a auto mechanic by trade... @10:33 I can assure you that older cars are built better than newer cars. Your common early 2000's honda or toyota can run over 300k miles if simply maintained.

[@jburch1544]

Cars are expensive to own from beginning to end. Gas insurance, maintenance, buying. Lots of money over the years.

[@sunnyside287]

We bought a $2000 Honda jazz about 5 years ago. It drove very well, every year we did have to pay between $200 and $600 dollars for repairs but then considering we drove it for 5 years it was still much cheaper than buying a car outright ($700 a year roughly - equal to an average monthly car payment if loaned). When it was too expensive to fix we bought another $2000 car which has a clean MOT so likely to be ok for a good couple of years. Old cars, if bought well, even if they end up costing in repairs, are still cheaper. I can’t believe some people lease cars. Money down the toilet! If you can’t afford it don’t buy it. If you can afford it, invest it. As Nicole said, you can’t see the outside of the car. But that money that we saved as a family is now going towards the purchase of our first house. It’s that simple!

[@bree8150]

I appreciate you SO MUCH Nicole. Thank you for these videos. I’m so much more intentional about what I’m doing with my money thanks to you. 🙏

[@KeithandPamBilyeu]

Pam here….we have a Model Y Tesla. It was not 100k. It is 40k with the incentives. We put no gas in it. Charges in our garage at night. We had been going the cheap used car route all our life and we were always fixing crap and 1000 here or there all the time when we didn’t have it handy was always putting us in bad situationns. Our first brand new car purchase was a Prius off the lot. Completely paid off in 5 years. And we had it for 15 and could ‘deduct’ the mileage on it for the rest of its life as my hubby uses it for business. It had low repair costs until it turned 15, then we got tesla. It is tight now but it is temporary. Investments in stocks, real estate is great. But,their gains can evaporate in an instant. The used car market was insane here and way overpriced. Our mortgage and car payment together is less than what people pay for rent about 1500/mo, we have a 1800 sy ft house with nice yard for dog in town close to everything. So many paying 2grand for a crappy studio or one bedroom. We know we cannot sell our home and buy anything comparable without paying double for it. So we are starting put.

[@stuartpaul9211]

in the US people got sucked in with the stimulus cheques, using them to secure car loans, now they're struggling to pay their agreements back.

[@Torgo1969]

Some people.

[@HopefulEmpath]

I suppose many people did that while others used them to make ends meet when they couldn’t go to work. I didn’t “need” my stimulus money so it went into savings. Most can’t say that so I feel blessed.

[@Pihlalorjoone]

So you are saying that because you received some unexpected money from the government, you were forced to buy a car with a big loan? Wow, that is the silliest logic I have ever heard!! Why not put the money in a simple cheap tracker fund? The money would have doubled or tripled by now, and it would have been a nice start to investing.

[@stuartpaul9211]

@@HopefulEmpath I watch a few American economists who point out some of the data. savings and credit card clear downs in 202-21 were at record levels, now credit card debt and defaults are at record levels.

[@stuartpaul9211]

@@Pihlalorjoone I'm in the Uk. I just watch a few US economic channels who pointed out this issue of irresponsible spending/borrowing using the stimmy has a loan deposit.

[@danf.4745]

Last year I bought 2 hyundai accents, a (2010 and a 2011) 2 door hatchbacks for under $8,000 both are 4 cylinders, manual 5 speed with a combined city/highway fuel consumption of 35 mpg. They each have a heater, a radio, one has A/C the other doesn't. At a 1/4 tank of gas, I put $20 in the tank which fills it. I park that one while I use the other car which has a full tank. When it runs down to a 1/4 tank, I put $20 in the tank and park it. I do this every 2 weeks. I do not have to rent a car while I have service done to one of the cars which is very seldom. I basically use these cars back & forth to work, errands, etc. full insurance coverage on both cars is $1700 a year at $ 130 a month. I don't need an ego with these cars either. I bought a brand new car years ago. never again ! ! ! I had more problems with that than I do with these 2 used cars combined. There are more used car dealers and private party selling good cars that are loaded with nice good cars. You just got to go out and look for them.

[@wkwmobile]

“No one gives a shit about your car”. Try doing Uber or Lyft in your car, you’ll really find out how no one gives an absolute shit about your car.

[@EdithRuthh]

My Toyota Corolla L was used & within my $15,000 budget. It didn't have anything fancy on it. It was bought used at 17,000 miles. I paid it off in 2 years. Well in 9 months when I realized it was at a 3. something interest rate every month. Basically, costing me extra money that I should be saving in the bank if it was paid off. I paid that car off so fast. Now, I've had it for 6 years. It's at 67,000 miles. I've had very little ups & downs with it. I'm very happy with my car and will continue to drive it until the wheels fall off. P. S. Thanks for the telling it like it is. It's the reason why I subscribed to your channel. You're telling it like it is. Not apologizing for it.

[@lairheron9489]

I ran my old 15 year old car into the ground and repairs over a year became more expensive then regular car payments on a new car. Owning a reliable car is essential to my job and lifestyle, I still make monthly profits with it despite a car payment. Maybe its not for everyone but I love my car. Also uber is expensive too and public transit is gross.

[@LindaDooWop]

Some people are given way more than their share of charisma when it's being distributed! You are one of them. No matter how serious the message, I'm always smiling when your videos are ended, Nicole!

[@hhjhj393]

As a 30 year old male who has spent a lot of money and space on car tools. If you are young, try to avoid car dependence, it will save you thousands and thousands of dollars. If you can stay, light, mobile, and not purchase a lot of stuff then life will be a lot easier for you. Automobiles are a trap.

[@wturner777]

Unfortunately in most of North America, you NEED a car to get around because other modes of transportation are inefficient, unsafe, uncomfortable, and are considered inferior. That’s the definition of car dependency, and it was all by design.

[@texan176]

A beater vehicle is the best of them all. In my 20s I used to want an expensive car that was fast or luxurious. When I changed jobs the new office did not have garage parking and you passed through a bad part of town to get there, I bought a $1500 truck to leave roasting the sun and drive through the potholes each day. It was the best purchase of my life. I made it mechanically reliable with brakes, shocks, belts, hoses, plugs, water pump, etc…all DIY for less than $1000. The air conditioning is ice cold and it gave me trouble once in 5 years when the alternator went out but I was still able to make it home. It is dented and scratched so I park anywhere without worry about getting dents and scratches. Other drivers also rarely tailgate or cut me off because they assume I am broke and uninsured so a crash with me would be a nightmare for them. It is so liberating to drive this thing, I use my “good” cars less than 10% of the time. I wish I knew this trick when I was young. I could have exponentially grown the money I completely wasted on cars back then.

[@jerrysstories711]

When I was 24, I was working as a Scientific Software Engineer and driving a Mazda 626 that I bought used when I was 19. I knew I made well above-average income, but nearly all of my friends and neighbors had nicer cars than me. I mentioned this to a friend and he said, amused by my obliviousness, "Because they're in DEBT, Jerry."

[@paulabeattie8565]

Excellent point, again, my car is 12 years old, I purchased it at 3 years old. I retired at 50 and I could buy many things outright but to me, a car is a waste of money so I don't; I travel instead because I can.

[@backbay2242]

Cars are not freedom. Not needing a car is freedom.

[@michaelb.8953]

What do people get from them thinking that the next guy at a traffic light is salivating over their choice of car and how does that change your daily life for the better? This girl is spot on 100% correct when she says all cars do the same job and they all have the same basic function and this is to get you from point A to point B as that's always been my argument over the years. I bought my 2016 Toyota Corolla brand new for $25,000 brand new including taxes and tags out the door that now has 122,000 miles on it. It came with 0% financing for 5 years and thought that was great until I later realized 1) I had to pay a fee AKA interest up front rolled into the price of the car to pay no interest for the duration of the loan 2) even though I wasn't paying any interest on the monthly payment that monthly payment still reduced my monthly cash flow reducing my ability to save and invest. I'm still driving that car today everyday as I'm the one an only owner and I know that car inside and out as I take impeccable care of the car as It's long been paid off and I don't scrimp at all on preventative maintenance. It's kept in my garage and it still has that brand new shine to the body and drives exactly that same today as it did the day I drove it off the lot and plan on keeping it for many many more years. In fact I just recently drove that car from Pennsylvania to Florida and back with out a single hiccup and that's a testament to Toyota. This car is my baby and if I take good care of her she'll take good care of me. By the way my household income is very well north of six figures and I still choose a Corolla any day as you get a great value car for the amount of money you pay for it.

[@kampar82]

No, not all cars do the same thing. I don't need a radio to listen because I have the sweet five cylinder music from under the hood.

[@bree8150]

😂

[@DHaworth100]

I have a 2006 Toyota Tacoma, but it is also used for the Idaho outback. That is something that most cars can not do. It takes a truck to do it and has to be a 4X4 with a lot of gear. The basic vehicles for the average chores are all the same. Unless you enjoy the extreme outdoors.

[@Kyla94934]

I leased a car when I was young and I'll never do that again. I've owned all my cars outright ever since and I am SO GLAD to not have payments

[@84photodude]

I have been weighing out owning vs renting. In my case, I live in a rural area, and I need a box truck to transport merchandise to my home for online resell. A new box truck is $65k. A used really beat up one with 250k miles is around $15k. But renting one is $160/day. So for me, it was better to just rent once a month. Instacart, the very, very rare doordash orders, and occasional uber trips have almost made it cheaper to stay home and not drive. One major downside is no social interaction, boredom from being stuck at home. Over the course of 2 yrs, it's cheaper to drive an old car to town to use as an A to B type of transportation. So I'm setting aside money for another used vehicle. But my plans are to only drive it once every 2 weeks. I think it's better to just rent a car for trips. Vehicles have problems if you start putting a ton of miles on then, strain motors, etc. To break the monotony of working from home, I started renting a car once a month to make road trips to every Thrift shop I can map out for individual items for resell. A car rental means no maintenance, newer vehicle, it's clean, and for $60 (insurance and tax included), for me, it works out better than paying a car payment and insurance, oil changes, tires, maintenance, etc. I can see if people have kids, have to drive daily for work, but I think people don't plan a lot, and do a lot of unnecessary driving and spending. When it comes to driving to work a minimum wage job, I could never understand the logic. I mean if you need startup capital, doing it temporarily could be justified, but there's a ton of sources for income that could be started for less than $2500.

[@PAPO9609]

My car is 35 years old. An old 1988 golf GTI. Love that car and turns some heads lol.

[@alistairrobinson3865]

Gorgeous vehicle 🙏

[@MrGilperc]

Point A to Point B. Even the most inexpensive car does it.

[@AccordingtoNicole]

Exactly!

[@TylerG7777]

Well said.

[@Pihlalorjoone]

provided you fit in the car...

[@MrGilperc]

@@Pihlalorjoone Touche.

[@anyviolet]

My trusty 25-year mechanic told me my 14 year old Kia Forte (118K miles) needed a new engine and a few other things to remain driveable. I HATE debt and after weeks of looking around and avoiding highway driving, finally just picked an ugly orange 2021 post-lease Kia Soul for $14K. (Literally thought what you said: "I'll never see the outside when driving around" heh) Thank you to whoever leased that car because they paid for the bulk of the depreciation and I paid cash, super condition, it was well cared for, still has warranty left and am still 100% debt free. Hated parting with 2/3 of my emergency/car savings but this video kind of confirmed I was lucky enough to be able to make the better financial decision. I feel so blessed. Now on to building up the fund again!

[@makingMyHouseaHome412]

My 2010 RAV 4 has been paid off. Hardly any repairs. 122k miles. LOVE BY CAR!

[@Nisalyn88]

Stay you! It is why I am here😂 “literally nobody gives a **”. You kill me. “I said what I said”

[@Larzipan146]

I bought a 2003 Jetta in 2016 with $3,000 cash. I cannot fathom having a car payment. It must be terrifying.

[@seltzermint5]

while I wouldn't have a car payment at this stage in mid-life I didn't think it was too bad when kept to an affordable amount. I think sometimes for young people it is unavoidable, I don't mean a brand new car btw. Anyway I would rather (even now) pay a $400 car payment just for example than pay for $100 gym membership, $100 streaming services and $200 at a salon on services.

[@EastCoastEDC]

I have a 2022 RAV 4 thats paid off. I also recently just got a company vehicle. So now Im wondering should I sell the RAV 4 and try and find a cheaper older car and invest the difference or Just keep the RAV until the wheels fall off. My bigger worry about the todays cars are the electronics failing more so that engine.

[@Soxandnicole]

Not having car payments, mortgage payments and living in a no income tax state allows the 2 of us to live on a less than 2K a month. We are retired and don't have to go without anything.

[@michaelt1349]

What state do you live in?

[@Eratas1]

Same. i have ONLY one bill: Internet 20$/month and thats it.

[@monishthomasp]

I would differ on some points with Nicole but agree most parts.. many people buy cars to show others that they have a great car. But some of us find satisfaction in driving a certain type of car over others. But that’s not to say you must get into absurd monthly car payments for it. One should strike a balance between needs and wants. If what you want is not matching with your financial situation you should not sacrifice everything in your life for it.. that’s foolish. Personally I currently drive a 8 year old Mitsubishi rig which I bought for $ 14700 when it was 3 years old - full cash - I drive it nearly 2000 km per month and gas costs me about $ 250 per month. My monthly commute is such that if I were to take a taxi it would cost me $ 1250 per month.. public transportation like bus or metro or train not feasible as it doesn’t reach close to my work point and at some point I’d have to take a cab. So it’s saving me nearly $ 1000 a month. Routine service costs me about $ 500 a year.. and registration costs and insurance another $ 1100 a year.. So my annual savings is $ 1000 X 12 = 12000 over a cab for transport but total expense = $ 6000 (if you add the occasional tinkering and traffic fines too) No major work on the car other than routine service - it’s already done 105000 miles.. So savings minus expense = $ 6000 still positive balance per year. If you multiply that by past 5 years of ownership = $ 30000 that’s double of what I paid for the car.. PLUS.. if I sell it I’d still get about $ 12000 so if that’s not a win - win, then what is.. ?? Everything else, the comfort, the pleasure etc., are bonuses.. Ofcourse the numbers are just approximate.. I live in the Middle East .. Petrol is relatively cheap.. 😊❤

[@Normanx964]

Dont buy an EV, they are junk. Buy a used Toyota, Honda, Volvo or Subaru, folks. Well made and lots of value. Ive worked in the American car industry. Always take your car to a dealer for service because they have the right parts and expertise. This is more expensive but will save you money in the long run because of incompetence and cheap aftermarket parts used by lousy shops. My choice for Nicole? A Subaru Outback. Good in the snow. Virtually indestructible.