We're Upside-Down On 4 Cars, What Can We Do?

[@halfmoonyogi4997]

No excuses. I work full time making 19/hr in the mental health field which is competitive in my area. I got called for interview 10 minutes after applying for a part time gig at walmart. I kid you not, submitted the application and got called at 730pm 10 minutes later. I was hired in 5 minutes after telling them my availability, for 15 an hour which i was making in my field not too long ago. In the interview they said they pay $23 an hour for supervisor positions. Thats equal to what my supervisor makes. With the two combined, ill make 55k a year instead of 39k Im throwing 1500 bucks at ny debt a month like my life depends on it.

[@gtf5392]

You should be applauded. Good job.

[@BagsNBaguettes_327]

And this is why Americans complain they are living paycheck to paycheck, you have dug your own grave. $2400 in car payments is just absolutely stupid. Drive used paid off cars! Nothing wrong with that people!

[@reginacameron3011]

this part I have not made a car note i n 4 years. My friend kept asking me when was I was going to get a new car. I told her to buy me the car. She has not said anything else to me

[@Primitive_Code]

@@reginacameron3011I've had a female roommate (she was heavyset) tell me I look good in a brand new 2018 Mustang 3 years ago. I parked my 2002 Toyota Corolla in her designated parking spot for the following week for good measure.

[@curiouscat3384]

And let's not ignore that 2 of those payments are just motorcycle toys!

[@om617yota7]

Had a family member ask if we were doing ok financially, because our newest vehicle is a 2013, and my truck is a 1998. This same person borrows money from us a couple times per year. Honey, it ain't us with the financial problems.

[@m.b5777]

Thanks to these people otherwise there won't be any supply of used cars to buy. They take the depreciation hit and provide a good service for used car buyers who pay cash

[@Bob-yh7ir]

I think it was Warren Buffett that said- "when the tide goes out, you can see who was skinny dipping" David lost his job and was caught with his pants down.

[@johnc2438]

He just wasn't caught with his pants down. That was merely the prelude. They were whisked right off his keister when his tide went out! Ssshhhooossshhh!!! 🤣

[@bigpicturethinking5620]

@@johnc2438sucked off so quickly and violently by the rush of water it left his bollocks slapping between his legs for a final measure of insult.

[@GoJojo-lv6zi]

Well said.

[@davesrvchannel4717]

Why does nobody mention insurance costs? The idiocy doesn’t end with just car payments.

[@theinevitableend9412]

Ya, motorcycle insurance is through the roof.

[@raulgallardo5140]

And maintenance and gas

[@July.4.1776]

License, tag and registration fees ! 😬

[@thedude5040]

Property taxes. Our 3 vehicles is $1000/yr in Kansas.

[@domanicgreen]

Facts! I’ll tell you why…because they typically let the insurance lapse and drive around uninsured

[@3-dreticle826]

I listen to Dave everyday. I paid cash and own a 2012 Toyota sedan w/ 77,000 miles on it. In perfect condition. I don’t understand people buying expensive cars that cost nearly as much a rent.

[@rcruzthomas]

Yeah I have a 2005 Toyota with 162,000 miles on it. I am saving up cash to buy a newer car in all cash, and refuse to pay for these markups over MSRP.

[@BMAN1able]

How much did you pay?

[@tduck828]

Sameeee!!! I keep cars a long time. I bought my current car brand new, but been driving it since 2009. I'm 41 and this is only my 4th car I've ever driven.

[@stevennovakovich2525]

I bought a used (18k miles on it) MItsubishi Mirage G4 about 3 years ago. $205.02 monthly payment, runs like a top. I can even get as high as *50 mpg* with it, highway!

[@3-dreticle826]

@@BMAN1able In this inflated car market. I paid 18k for it. But it’s a sports model with low mileage. So I said F it.

[@RLC2020]

My wife and I had $1548 in payments between our 2 cars. We've now sold both of them, which cost us a few thousand to settle, but $0 payments going forward. I bought an older Suburban for cash and for the wife we picked up a used Armada. We put aside cash for about 6 months to make the plan work, but we are officially car debt free at this point. Starting next month we will be hammering the last $40k in student loans (down from $105k). Doing this all on $75k a year salary with 3 kids. Living frugally, and a few side hustles, has made a world of difference.

[@Tubeyou2343hhsg]

I bet this is a low end truck and a low end suv it’s crazy how much garbage cars cost a corella is 400 a month cars are insane right now

[@dealerofgame]

Sometimes ppl ask the dumbest questions, "hey Dave I have 20 cars and I'm in car debt. What should I do?"

[@GoJojo-lv6zi]

Lol true. Sell them all. Start using your legs.

[@heleneelong3679]

​@@GoJojo-lv6zi😂😂😂😂

[@JS00089]

That's what happens when you overpay on your car. Dealers were charging 10-20k over msrp for the last 2-3 years

[@hiteshadhikari]

*Because idiots were paying that price, because everyone wanted a car from their govt cheques*

[@Dan16673]

​@@hiteshadhikari4sho

[@johnwilburn]

The bigger problem is financing all that stuff he couldn’t afford in the first place.

[@JaydoggX1]

It was fun being in the car business the last couple years. But it is getting back to normal

[@yun9393]

👀🍿

[@Mr.Boring_Man]

If he never lost the job, they'd continue this reckless behavior. I guarantee these aren't the only bad spending decisions they've chosen. This is the one luxury they are willing to part with.

[@GoJojo-lv6zi]

I like the way you think. So true. I’ve heard a couple who lost all their life savings to Bernie Madoff speak on how it actually changed their perspective on life and money for the better. In that case they were necessarily reckless, but nevertheless sometimes these things can be a blessing in disguise. I think the caller is definitely in that position.

[@hammertyme8392]

Spending is a habit that's hard to break.

[@scaldon2]

Back in the 80s and 90s a household was lucky to have 1 car . Now everyone in a household of 4 has a car . This explains why😂 you cant get any parking .

[@curiouscat3384]

Haha! and traffic snarls even in medium size cities like mine!

[@reginacameron3011]

parking that's funny

[@orphancharmander1168]

I dont have any cars, ore motorcycles, im at Baby Step 2, i want a paid for house instead 👀

[@jaygrenham]

You are a few decades off ... 3 decades . By the 80's everyone over 18 had a car ...actually by the mid 70's. I lived through all of them and this is how it was: 1 car was 50's and early 60's 2 cars early 70s and by the mid 70's everyone who could drive owned a car. Used cars. Few bought new. We all were driveway mechanics and vehicles were fairly simple to work on so we did and kept them going. Once computers, electronics, environmental regulations came along in vehicles it was impossible to do much beyond oil changes.

[@rodleypumpkins4174]

What lol maybe the 50s.

[@RetailRipper]

stop trying to impress your neighbor. theyre in debt too.

[@aznsumthing]

Jade is so awesome. She reads between the lines and understands the fundamentals super well. Excellent communicator on top of it all. Bravo 👏🏻

[@seannunemaker5492]

This is the “American Dream” that modern society tells us we should be striving for: Materialistic Gluttony that results in huge debt payments all for toys we don’t need and that hold us back from freedom

[@carmarasmussen8118]

Buying stuff you don't need with money you don't have to impress people you don't like. 😂

[@danacruikshank3945]

Not to mention having no time to use those toys.

[@phobedavis7014]

​@@carmarasmussen8118My dad use to say that. RIP Dad.

[@Atlas-tp8dw]

👏

[@neuralismgamingtv4511]

Stupid fancy overpriced VCRs with 4 heads instead of just 3.

[@bigcahuna42366]

I sleep eight hours peacefully each night knowing that my 2017 Cadillac in excellent condition with 29K miles on it is fully paid for with my emergency fund fully intact

[@percivalgooglyeyes6178]

They can also sell all the Harley-Davidson branded riding gear they bought at the H-D boutique. People pay a lot for used orange & black doo rags.

[@JasRog1026]

I have a neighbor with a 40k truck because he uses it once a year every Thanksgiving for a 4 hour roadtrip to visit family. He makes montly payments on it.

[@insideoutsideupsidedown2218]

How did you know I visit once a year?

[@poms-eyeview2453]

Will no other car work for this purpose? 😂

[@superblump87]

Why does a road trip require a truck?

[@om617yota8]

@@superblump87 Towing a travel trailer, maybe? I have a truck that I drive less than 2000 miles/yr, but it cost $10k and I paid cash.

[@BusArch42]

Oh wow!

[@screwdriver_bandit]

As a recovering Harley idiot myself, those payments are for sure HD motorcycles payments. Best decision I ever did was get out from under mine and sell it! Found a non Harley dealer willing to help me bury some of the negative. We coughed up the difference in cash, I bought a 5k lightly used Suzuki. cash. and have no payments on something I can’t even ride for 2/3 of the year!! 👍🏻

[@om617yota7]

If you dumped $2400/mo into a savings account for a vehicle, it wouldn't be long before you could buy a very nice vehicle, cash.

[@barrygoldwasser5449]

A used 2017 Acura RDX with less than 75k miles costs about 20 grand. And that's an Acura, not a Ford Focus. You're driving a super nice car that will require no maintenance and will last you for another 150k miles. I'll never understand people. Dumb. And they buy Ford or GM pickup trucks for $80 grand. Dumb. Very dumb.

[@toddprater14]

No one thinks old school like that anymore ..they do not want to wait..gotta have it now..materialism at its finest…just the two vehicle payments were enough..this guy goes and grabs 2 seasonal bikes after that! That’s just stupid.he’s in for a world of hurt as are many people I’d guess..like Dave says wanna stay broke? Keep making car payments

[@om617yota7]

@@toddprater14 Yep, agreed. If I could teach today's youth any one single thing, it would be learning to delay gratification. Make the sacrifices now for the the better life in the future.

[@bucknut9475]

Exactly. People lock up their income in loans and then complain that they can’t afford other things. That’s almost 30k per year. With that they could just about max out 401k and IRA. Freedom is better than material things.

[@om617yota7]

@@bucknut9475 Right, burn $30k a year on a vehicle and then wonder why they can't retire.

[@lot2196]

Good god. Edit, I love my paid off 2017 Honda Fit more and more every day. 40 mpg average.

[@currenteventsenthusiast9477]

Honda fit doesn’t get 40 mpg… look it up kid

[@lot2196]

​@currenteventsenthusiast9477 yes it does, and I'm 58, not a kid idiot

[@may86bear]

How did they get this much credit in the first place 😮 I see it all the time; people’s driveways look like car lots. Crazy!!!😞

[@seller559]

Bought a 19 year old Honda Civic. Paid cash. Totally Un-Cool, 30 miles per gallon, runs great, got money in the bank.

[@andromedach]

Those motorcycle loans sound like Harley numbers.

[@johnc2438]

Don't forget the manly "RAM" and the liberated woman's "Lexus"!

[@sweetiespoon5150]

I about spit out my coffee when they read off the monthly pmt numbers for those scooters. I purchased a 2000 HD Roadking in 2015 (no trade-in) & paid $11k for it from the dealership. Rides like a dream & is low maintenance.

[@bcusaaus4749]

I was stupid with my last new 2016 80k car(before I found DR) I know dumb, driving around thinking I look cool and broke 😢. But, finally paid off. Never again; now I enjoy driving car cause it’s paid off. It feels like I’m driving on clouds.

[@CoffeeWithFred]

Dave over there twitching hearing those car payments. LOL

[@curiouscat3384]

He does that a lot lately with Jade because she's really good at picking out the details, like her intuition that they have other toys they can sell.

[@BusArch42]

He’s not alone. I am also

[@RichMind-2327]

As Dave always says, stop giving away your best wealth building tool: your income

[@motoryzen]

I own an 05 civic SI and a 2019 Honda CB 500 X motorcycle. And as much as possible. I take the motorcycle and I see if I can park in a spot. That's out of everybody's way, but not taking up a normal, wide car or pick up truck parking spot anywhere. . So at least in a partial sense. I can empathize with your point legit.

[@christopherstimpson6540]

I collect used toys for super cheap. I'm always shocked at the prices of new class A, RV's. They are worth basically zero at less than 20 years or if damaged. They also require a lot of replacement parts to keep appliances running. The one I'm working on now had no working appliances and leaking axles but otherwise mechanically sound. For around $300 I have about 80% back to normal. You need to have basic engineering to even own these things.

[@joesmith3590]

They are very expensive to build. Their is more to a price then resale value. A home on wheels cost a lot to build. To be clear they are a huge waste and most should never touch them but the price makes sense. As does the resale value 50+% won’t use it enough to justify keeping it.

[@alisummers7984]

I drive a 2016 VW Jetta - I have only 50k miles on it.. and it’s paid off- I’m driving this car till it no longer drives anymore! Lol

[@curiouscat3384]

I'm still driving my 2003 VW Passat wagon - expensive to maintain compared to American cars but it's been really reliable so I just set aside $100 a mth into liquid savings for maintenance and repairs. So far I don't use that much every year even at 95,000 miles but be prepared for your 60K-ish mile maintenance, (timing belt, water pump, ignition coils, etc) I spent $3,300 that year.

[@alisummers7984]

@@curiouscat3384 thanks for the heads up- VW cars are built like tanks.. they are reliable as long as we maintain them.. and I’d rather spend some money here and there on repairs than buy a 50k dollar car with a giant car payment!

[@mermer7330]

What's the reliability of Volkswagen?

[@alisummers7984]

@@mermer7330 fantastic for me! This is my third! I love them.. I’ve ( knock on wood) had no issues outside of regular maintenance on all of them.. they are built like tanks.. very heavy cars.. great on gas mileage .. oil changes can be pricier as they require a higher grade oil.. but I only have to get them once every 10k. I recommend them to anyone that’s looking for a car!

[@curiouscat3384]

What do you mean? These are two testimonials of happy old VW owners. @@mermer7330

[@eemr8439]

This is what happens when you make good income while you have a JOB and then start buying unnecessary things, drive expensive cars, buy too much house, live paycheck to paycheck et etc and then once one spouse or both lose their job then the nightmare comes. I cant believe people continue to live like this.

[@curiouscat3384]

American optimism - we never believe anything bad will happen to us. You would think the pandemic would have awakened everyone

[@eemr8439]

@@curiouscat3384 Thats why a lot of people are living in a bubble. Then blame the system and no self-accountability.

[@BusArch42]

It’s living beyond your means.

[@hadenanderson563]

Dave + Jade = Radio Gold!

[@taylorstauffer900]

Wow… you know the situation is bad when Dave Ramsey recommends you borrow $10k on a credit card to make your situation better…

[@EvangelismforGod]

True!

[@Rob10288]

Fake rich people...

[@ykook7000]

They are on every corner

[@jorgemoro5476]

@@ykook7000Every. Single. Stoplight.

[@jeffpadilla9891]

My first truck payment back in 84 was $122.00, what a great time that was.

[@markmurrell1894]

Just have to say though, on the other side of the repo lot deals, I got a great deal on a car buying from a bank repo lot. It’s been a great car.

[@maryallen1017]

I bought a car 7 year old vehicle with 49,000 miles on it. Paid $10,000 for it. $200 a month car payment. I paid it off in one year. No more car payments. 5 years later it has 90,000 miles on it. I plan on driving it 10 more years. 🤞 Debt Free!

[@ruthlessreid9172]

I've owned half a dozen bikes over years. Never finance toys cash only.

[@timmartin723]

Don't know how people go to a car lots and agree to pay more than $600 for any vehicle. Being materialistic will sink any budget.

[@peraltaisrael2598]

All to impress people that don’t give a crap about what you drive.

[@TheNORegretShow]

That sounds like all covid free money purchases to me. 3 years ago people thought the free ride would never end.

[@ykook7000]

💯 then complain when they have to pay debt back

[@rleonekc07]

ill never have a car payment again for the rest of my life. No thanks.

[@cnevill2]

I bought a 2007 GM station wagon with 80,000 miles on the clock. Today it has 157,000 and hasn’t let me down once. Parts and servicing are not expensive for this car.

[@tylerhair9067]

People in these situations can’t simply ‘stack up cash’. If they could and it was that easy, they wouldn’t be in trouble to begin with. 🤦🏼‍♂️

[@lldolph]

I somewhat feel good now about driving my 2017 ford fiesta w/ 89k miles i paid $3800 for 5 mnths ago

[@fullstack5461]

Some great financial advice

[@nicodimus2222]

Vehicles are the #1 killer of wealth. They are a black hole sucking away your money, especially if you buy them brand new. The depreciation is insane, plus the gas, the maintenance, the repairs, the insurance, the yearly registration, etc.

[@aolvaar8792]

Housing is the #1 killer of wealth.

[@nicodimus2222]

@@aolvaar8792 Real estate appreciates, and you can build equity. Vehicles depreciate, and they just continue to suck money until the day they die.

[@aolvaar8792]

@@nicodimus2222 My employer provides Free housing, Imagine the wealth building of a mortgage payment going to investments. The Test: If you could live in your house for free, would you buy it?

[@nicodimus2222]

@@aolvaar8792 Employers that provide free housing are very, very rare, though. It's not an option for most people.

[@Nonsense116]

Dude....thats wild. I'd be scared to be in that situation even if I WASN'T unemployed. Those bike monthlys were wild. That's about how much a month i was paying for my sedan and i felt like i bought too much car

[@catholicfaithofmine2664]

Bought my 2020 car in 2019. Negotiated the price and paid it off in 2022. I don't understand why anyone is paying more for a car. Negotiate the price. If its not what you are willing to pay walk away! Do you really NEED a over priced vehicle? Same with a house! What is wrong with ppl paying OVER the asking price? Why are you buying a house at the top of the market? Sit back save your money and wait for the housing bubble to burst then buy your house at half price! This is the same ppl who refuse to use coupons when shopping as well and wonder why the heck they are always broke! Rule of thumb. What goes up must come down. It always does. You just got to be willing to play the waiting game. Some ppl just are lacking in patients with their I deserve it now attitude!

[@maryangelica5319]

I bought my first car at carmax so no haggling involved or allowed. In those days I hated the negotiation process, so it felt like a relief at the time, but while the car was quite nice (2019 toyota yaris for 25k total), looking back, I could tell I over paid for what the car typically was sold for, and my comfort had its price... but after a few personal experiences that necessitated it (i.e. negotiating an offer for a house), I wised up and gained a bit of confidence on it. Next car I buy will be at a dealership with extra research.

[@rebeccazeman9309]

Usually the people under water are not under water bc they bought the car for over asking or that much over what it's worth. You get this far under water by rolling negative equity into new cars. So you buy a car and a year later you hate it or you're having a baby and think you need an upgrade so you trade it in and buy a new car and roll that 5k into the new car payment but then with interest and depreciation you end up 10k under water real quick. Plenty of people buy a car every few years and just keep rolling the negative equity into a new car. It's wild

[@catholicfaithofmine2664]

@@rebeccazeman9309 I know ppl paying ridiculous prices for cars. Have you seen the sticker prices? Way over priced! I'm hearing though car prices are about to drop.

[@mariorta5017]

Poor Jade, I don't think she saw the commercial grade prices for mowers. Most people have not idea how much that equipment cost and most people think $35 price rate is to expensive for mowing. 😅

[@CRAZYKINGFEAR]

Exactly my thoughts. She's in shock over a mower that costs 6k 😂😂 better double that if not more for a good mower

[@dillondeclue967]

I’m going thru this now. 26 years old so learning it sooner than most but later than some. Retail my truck is worth almost what I owe maybe 1-2k upside down but it’s hard to find a buyer now. Probably will have to spend 4-5k and be done with it. I have another truck I can drive for the time being

[@bluejedi723]

and this is why I can buy a late model car for $15K in my area

[@EdwinBoettcher]

$2400 on car payment , WTF! That’s really foolish. How do people get themselves in this kinda mess?

[@BradleyMaurice226]

Believe me when i say lack of financial advisor. I don’t think the need for financial advisor is emphasized enough in the society, leading to so many Americans finding themselves in big mess trying to live the American dream

[@KimberlyFlores-kr1bz]

How can i reach her? really need guidance with my financial decisions

[@EdwinBoettcher]

Most likely, the internet is where to find basic info, she has a noticeable page for consulting.

[@KimberlyFlores-kr1bz]

I just googled her name and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a call.

[@justintoth5440]

@@BradleyMaurice226financial advisors are just salespeople. They are pushing products for commission. Explain how this is good for you? lol you don’t need someone to tell you to save

[@tonyahenry4167]

Dave over there looking disgusted by the amount of them car payments 😂😂

[@emaldon7]

Wonder if those costs include insurance

[@curiouscat3384]

Very good point that no one talks about! The companion expenses on expensive toys.

[@vickieclark5931]

No, I think that is just the payments. I shudder to think how much the insurance & registration is on those 2 big cars.

[@kevinsamson1693]

@@curiouscat3384only truck worth 800 plus dollars in payment is the Trx ram for the suv it must be a glc/gle 300-580

[@sweetiespoon5150]

​@@vickieclark5931Looking at over $300/ month to insure 4 vehicles IF they have clean driving records. They likely pay more than that...

[@droid2D2C3P0]

Definitely don't.. car payment is not the same as insurance, you pay different entities it would honestly be misleading to combine them so it's a very safe bet there's another couple hundred in insurance on their plates too

[@diegolove173]

852$ per month for a truck that's nuts

[@jorgefloyd6989]

For a 7 year payment plan

[@5points7019]

We have 3 vehicles, 2- 20 yr old trailblazers and a 1978 chevy pickup. The insurance, tabs and registrations are all rock bottom cheap even tho we keep full coverage on the daily driver for when we use a rental to go out of state twice a year. Back in my first marriage all the vehicles were paid off bought used except for one. But michigan insurance, tabs and reg are thru the roof ridiculous even on used vehicles. We had 4 vehicles for 4 people, 2 kids were still home but working and school, plus a couple muscle cars... Stay debt free!

[@tubenachos]

4 cars?! 1 for each mood?! 😂 These vids make me feel better

[@blackworldtraveler3711]

A lot of expenses for something that’s parked more than 20 hours a day. Must be driveway ornaments to look good for the neighbors.

[@commonsenseisntcommon1776]

I'm 56 yrs old, just paid off my 2015 Honda CRV with 33k miles on it. I'll be driving it until the wheels fall off. It's not a cool vehicle.....but I don't care.

[@BusArch42]

Those are nice cars. We just bought a rav4 very basic model and it will go forever

[@quackaddict9810]

Lol. Both of my mowers cost more than I paid for my everyday driver but we have over 300 acres. Car being nice is low on my list.

[@arthurtam9714]

Time for a video about Dave’s cars, before and after the great “transformation”

[@beaniemac]

I understand what Dave says about getting a side hustle, but u aren't ever gonna get outta debt delivering pizza. That's nonsense given the price of gas these days.

[@chriscrawl3732]

What's your advice?

[@lot2196]

Vote democrat?😂

[@roolyfe]

I been delivering food for 8 years

[@subjecttochrist]

@@lot2196that’s being part of the problem, not the solution

[@barnabusdoyle4930]

Depends on the area. I live in Oklahoma (same area as this listener) and gas here is $3.35 atm

[@brianmclean7576]

Sell the wedding ring and use that to help get rid of the motorcycles and fight hard to get re- employed. $2400 in payments is crazzzzzzy!

[@ralphlopez3166]

I like nice things too but not at the expense of my families future. I will keep driving my paid off 2004 truck.

[@Run4Ever77]

I love Dave Ramsey. I really wish he would stop blaspheming.

[@desimo147]

Having car payments is dumb, but if you are going to do it, at least only have one car payment at a time. Multiple payments is suicide to your finances.

[@ronolson2024]

The occasional maintenance costs are sure less expensive than regular monthly car payments.

[@langasanders1337]

Paid off my car in 2018 and will drive it until the wheels literally fall off.

[@RMalai]

I am poor. I bought a 200K mi, 15 yr old car for 4.5K. hybrid Camry. gets me from a to b. had an accident/fender bender not my fault. ins paid 1K. already drove a year 12K miles. want to get as much as goes. if I have a lot of money left, I would still buy a Camry hybrid - but newer.

[@commonsenseisntcommon1776]

My house mortgage is half their car payment

[@mikederucki]

When I was in college I worked nights with this guy who had like 5 cars. He’d work like 90 hours per week with a ton of OT just to pay for all of his crap on payments

[@kleindropper]

Why, just why

[@truthserum5310]

Hey, I own 7 vehicles, and 2 motorcycles. But, they're all paid for, and have been paid for, for years now. Newest one is a 2005, ha.

[@mikederucki]

@@truthserum5310 haha yeah the guy I worked with had payments on nearly all of his

[@ykook7000]

​@@truthserum5310yeah and why do you need that many? Unless you're a collector and the value goes up and you sell them what's the point

[@truthserum5310]

@@ykook7000 Except for my daily, the rest are collector cars.

[@juliosalazar7093]

Dang.! 2,400 for car payments. That's more than I pay for monthly expenses. I'm glad I have no debt.

[@steelcastle5616]

That also includes 4 insurance payments and maintenance schedules.

[@mikefannon6994]

There are lawn mowers costing more than my 2001 Miata that I paid cash for in 2019.

[@ianmowbray3284]

Jade “stacking up cash “lol they have no money

[@johnwilburn]

I thought that was funny. The guy writing them because he can’t make four car payments….. it’s a fire gone conclusion he has no money.

[@BusArch42]

We have five drivers and five cars. We paid cash for all of them. One is 12 years old. As we bought newer ones for ourselves we kept the old ones and those are what the kids drive to college. It’s well worth it for them to live at home and no student loans

[@AllynHin]

They pay more in car payments than I gross every month. It's mind boggling. We have thee vehicles and two motorcycles and they're all paid for. It can be done.

[@smokinhalf]

The Brady Bunch. 6 kids, wife don't work, paying a maid. ONE CAR

[@lagarde2011]

Carol drove a station wagon throughout the series. Mike had a new car every season including a very nice Barracuda one year.

[@jimmymcgill6778]

These emails leaves a lot of information out.

[@Tank-vi2dv]

Please fill us in, all mighty Jimmy.

[@MrTmenzo]

"They can afford it, unemployment pays pretty good 👍" - jimmy McGill McGee 😜

[@YT0091]

It's insane how deep people get with car payments because they feel they need a new one. Get a decent used car. It won't be fancy, it will get you from A to B. Is that nice car worth the misery of not being able to afford it?

[@justinshearer8180]

I never understand people making 40K a year going out buying and 50 or 60 k truck

[@MustardseedMomma68]

We are a family of four with all 4 being drivers. Only 2 paid for cars.

[@iforgotmyscreenname1]

Before purchasing a $50,000 car to show off..... keep in mind that you sleep better without any bills. 5 years from now, that car won't be as nice as you think, because 5 years ago, I purchase a sport car for $62,000. And I paid it off within 3 years and sold it for $57K. I took a $5K lost, but I rather keep $57K in my pocket than a car that depreciate every month/year.

[@curiouscat3384]

You had the use of the car for 3 years - that's a $ 5000 expense - not a loss. People still aren't convinced that a car is not an asset until it's paid off.

[@untouchable360x]

Start taking the bus.

[@chijason6630]

I haven't owned a vehicle for 8 years, and take the bus to work every day. Total transportation costs are $125/month, or $1,500/year. With the average cost of car ownership being $12,000/year, I have a net surplus of $10,500/year. With being child-free and debt-free (condo paid off in 2022) on 85k/year income, that extra $10,500/year is more than enough to cover a yearly 2.5 week trip to Europe with business class tickets for the rest of my life!

[@truthserum5310]

I swear, I will NEVER understand people! I make $120K a year, own 2 properties (one free and clear) have a net worth of over 1.2 mil, and still drive my 2005 F-150 (205k miles now) that I bought new, and paid off many many years ago.

[@awalker8371]

Wow I hope to follow this. Great job

[@singlefather01]

Actually, the bank probably has the insurance, and it is better for the bank to wait for you to stop making the payment and repo the car.

[@rgray3340]

some people were born to be poor,no matter how much money they have, its stupidity

[@MFlint-un2tq]

That is a sad reality.

[@Mansini77]

Start a used car dealership

[@markkauffman6184]

It may not always be possible to visit the bank manager in person. If you got your car loan through the manufacturer/dealer, their financial arm may be in another state. Probably not worth buying an airline ticket to go visit them in person.

[@PrimalEdge]

I feel like this one episode just crushed years of me hearing Dave say, 'you don't borrow money to get out of debt." I've heard folks say in the past they wanted to "shuffle their debt" for whatever reason, and he's always replied that you don't borrow money to get out of debt. trying to understand why all of a sudden context and nuance matters. Please someone explain this, because this vide is making me rethink choices I've recently made under his previous advice of not borrowing.

[@LionRoarTeaching]

I think understanding the context for this is important. These people are already close to bankcruptcy and what Dave Ramsey is suggesting is not necessarily get new debt, it's to shift the already present debt from one form to another so they can at least survive. All this is on the assumption that the man is still unemployed and they need an urgent quick fix. Also don't forget that they still suggested they sell whatever they can. I still believe they have not contradicted what they have said before, because the debt has ultimately gone down, not up or remained the same, they have suggested he get a job as soon as possible. If you have had to take some losses to reduce your debt, and you are feeling you should have just borrowed instead, I want to encourage you and say you made a good decision. Using debt to solve your problems is never a good option and only useful if the alternative is bankcruptcy

[@megalodon1726]

He's OK with borrowing if it would reduce the total amount of debt. Borrow $10K, sell the vehicle for $50K, pay the bank $60K and the total debt has dropped from $60K to $10K. But if you took a $20K loan to pay off $20K of credit cards, you still have the same $20K of debt, which is just debt shuffling without reducing the net debt.

[@jorgemoro5476]

I haven’t bought a new car since July 3rd, 1988.

[@hbarudi]

Why do motorcycles cost so much? they should be $4digit in price max and should not exceed $9000. Also why do they need 2 motorcycles when they have the cars they need?

[@bigh8121]

I saw thumbnail and started laughing my ass off. I still drive a 2008 honda accord coupe and I hate the idea of a car payment

[@Fred1294]

Why do they have 4 payments, some people definitely don't think things through 😮

[@wildarren]

If that is a company asset tag on the MacBook, it should be covered up while on camera.

[@joshstucki4349]

I would stack cash and get rid of the motorcycles first. At least the other two vehicles have additional utility. Then focus on getting out of those other two vehicles.

[@DDDD-of3hv]

waaahhhhhh...... we bought depreciating assets and owe more than they are worth.... waaaaaahhhhhh feel bad for me....... unreal...... but if i were a sales person.... this is the type of people i would LOVE

[@user-rw8zj1td9v]

Unless it's a collector car and you make 3-500k a year that's insane

[@MrWookie1981]

I love every minute of driving my $2,020 a month car payment.

[@user-rw8zj1td9v]

@@MrWookie1981 Same. I have a high payment, but it's a rare sports car and I will be able to sell it easily when needed and I'm not upside down. It fits comfortable in my DTI ratio. Our main family car is paid off. I can't imagine having multiple crazy loans and being upside down on family cars.

[@jorgefloyd6989]

​@@MrWookie1981I wished I still lived with my mommy as well

[@MrWookie1981]

@@jorgefloyd6989 Too bad she does not love you enough to let you live there

[@johnc2438]

But... but... but what will the wife tell her "BFFs" when she can no longer take them to lunch in her shiny SUV? What will the "man" do without his manly pick-up truuuck? And what about all the "anti-"social media posts they did -- with photos -- bragging about their shiny debt objects? And their neighbors' reactions when they see them driving cheapo cars instead of the pick-up and SUV? The horror! The horror!! The horror!!!

[@kendrapratt2098]

What if the neighbors see all of them get repo’d? No one thinks about that

[@FBA-Renaissance]

4:00 - TRUCKLESS & CLUELESS 😂😂😂😂😂😂😂😂😂😂😂

[@IIIlIIIIlIIIII]

You know you've messed up when Dave is telling you to pay for your truck with a credit card 😂

[@corrosivedevourer]

😂😂😂im dead

[@Thurgor_Supreme]

I don't know how Dave has the patience for this sometimes. I would just let these idiots rot

[@azteca6695]

$852! 😮 damn!!!!

[@Jajaky]

Never saw nice new cars as a flex when they have to use them to get to work at 7 am

[@jasonleatherwood2172]

My mower is 19999 a kubota zd1211 zero turn