Why Car Ownership Is Getting So Expensive

[@Nate_G_SD]

If you have a paid off reliable car, you're killing it now.

[@liam1902]

Is it just me or does the audio on this video sound way weirder than usual?

[@TheGrahamStephanShow]

Sorry about that - camera settings were slightly off!

[@liam1902]

@@TheGrahamStephanShow No worries, thought my headphones were messed up or something since no one had mentioned it when I commented.

[@RaviVarma-ey7ps]

Robotic voice..lol

[@swolestylist9812]

@@TheGrahamStephanShowhonestly I kind of like the audio on this one more.

[@swolestylist9812]

Definitely different. Idk if it’s weirder tho.

[@NextSurvivor]

The guy who is $15,000 upside down on his car also has a button that says "Cancel Student Debt Now!"

[@cur244]

The same people are also blaming inflation for why they can't put anything in retirement. They'll keep buying new cars every few years to get more and more into debt. I live in FL and this is the mentality of 90% of people here. No shortage of victim thinkers.

[@21b4ll3r21]

if you can’t afford to buy a car outright you can’t afford it.. car payments are how middle class or broke people stay middle class or broke

[@stocksxbondage]

People need to start somewhere. It’s difficult or impossible depending on your city’s infrastructure to go to work without a personal vehicle and Ubers would be expensive. Finance your first car, buy the rest cash, yes. But it wouldn’t make sense for a person to magically have 5-10 grand to drop on a reliable car without having gone to work to save up for it… unless you were given the money or your parents are paying for everything for you.

[@cur244]

Best way is to own a car until the wheels fall off.

[@G-Mulaa]

I agree if ur going to buy a new car be sure it's a reliable car that will last u 5-10+ years. Everyone I know who's finished paying off a car loan does not want to enter into another car loan 😂

[@lisasuzanne38]

Sadly, not if you owned a honda civic model with the well-known refrigerant leak issue.

[@ProfessionalGasLighting]

I have a 2011 Prius I got when I was in high school and now as an adult with a career, I want a new car… BUT THE THING WONT DIE 😂

[@cur244]

@@ProfessionalGasLighting Exact same situation. 240,000 miles and counting.

[@mhodge0890]

Exactly

[@MikeDoesRandomThings]

got myself a used hyundai for just under 7200 cash, less than 75k miles. Thats how you get a car. Instead of buying a tesla that I wanted, I got a house instead - which necessitated the car in the first place. I suppose what really put it into perspective, was how expensive mortgages are and how I need to keep my expenses under control. So the thought of having to pay 850 a month, plus taking into account property tax, fees, and INCREASED insurance made me come to quite the simple conclusion: Effing NOPE!

[@CherryPauper]

If you don't mind driving a low quality, low maintenance car, Teslas are pretty decent. Charging is cheaper than gas. I have a solar and battery setup at my house and don't pay much to charge my car.

[@johnkonde1975]

Many millions of Americans live in apartments and can't charge at home overnight

[@motornut]

You missed insurance.

[@HyperVegitoDBZ]

Tesla isn't low quality, it's higher middle class segment. If you want something of low quality, Stellantis, Toyota, those brands are much closer to this

[@lazarus381]

He keeps saying that he bought his Lotus for 50k and sold them for 50k and basically got a "free" car. Did he not pay high registration, high insurance, gas, and maintenance on this luxury car?

[@TheGrahamStephanShow]

Sure…BUT I’m also not counting all the money I made from the car via car shows, connections, etc

[@JonnDiorr]

You also should understand that that’s not the norm. The norm is usually you buy car for 50 K and when you sell it it’s worth 35K so he didn’t lose any money and he got to drive around the car and it did not lose any value therefore making it basically a free car.

[@rxklastz1770]

​@@JonnDiorr"basically" also the time to buy it and sale it costs you money, money is time and time is money

[@HyperVegitoDBZ]

Loss of residual value is also a cost of ownership ​@@JonnDiorr

[@keashablew7728]

It’s about as close to free as you get. He didn’t say no cost.

[@Shauneeful]

Having a fully paid off car has been so freeing! Financing a car is a thing of the past.

[@HyperVegitoDBZ]

Not if you want to drive new cars.

[@Shauneeful]

@@HyperVegitoDBZ Going into debt for a car is no longer appealing to me. Thanks.

[@HyperVegitoDBZ]

@@Shauneeful to each his own, with quality of modern cars I wonder if this is not a better way

[@keashablew7728]

My last loan was so cheap. I bought with carguru they are my go to research website

[@ratede91]

I was going to purchase a Tesla cash, but I never owned a EV before so I got a insurance quote. 700 dollars a freaking month. Absurd. My Mercedes and jeep wrangler together is 207 a month. I'm not paying a car note on a cash cars worth on just insurance. Not only is the car market rough, but insurance and maintenance is wild as well. I'm glad I change my own fluids

[@Poooridge123]

700??? Where do you live and how old are you? That’s ridiculous

[@noseboop4354]

@@Poooridge123 Not really, have you looked at how expensive it is to repair a Tesla when it crashes?

[@oclowdz7774]

Also, I think it costs like $1000 to register

[@winb83]

30000 miles on a 7 year old car isn’t typical. That’s an average on 4300 miles a year. People usually drive closer to 14000 miles a year.

[@Jill_Horvath]

I’m so grateful I’ve never once had a car payment. I saved up and paid cash for both cars I’ve owned☺️

[@extremeliberty7890]

I own five cars - all paid for. All five serviced and maintened by me. I bought them all private party, with issues that I fixed. Yeah, they're old, and look kinda run down but to be honest, I prefer it that way. No stress to keep it stratch, and ding free.

[@jacobstone4real]

I have a 2018 4Runner. Unfortunately took out debt on it, but intend to stay with it and pay it off. With proper maintenance, it could easily go over 300,000 miles. Currently at 89,000 miles.

[@wildjc1]

Thanks to you i cant buy a new car with all the money frozen up

[@phaedrussmith1949]

I watched a car-channel video yesterday about a 1970 Road Runner. It was made so that young people could afford a cool, new car. The price was equivalent to about $26,000.00 in today’s money. What new vehicle equivalent to the Road Runner can be purchased today for $26,000.00?

[@noseboop4354]

Mazda MX-5 is the closest, at about $25,000 if you get the most basic model.

[@benkamminga65]

Congratulations on the wedding my friend!

[@TheGrahamStephanShow]

Thank you!!

[@hgonz14]

This is why you always go to a credit union and get pre approved for a car loan so then the dealership will have to beat your pre approved rate if they want that deal and not play that game.

[@Breadstickwicks]

Car repair is my income killer tbh

[@noseboop4354]

Then learn how to fix cars to save money, plenty of KZbin videos out there. Learn enough and you could even make income off of it.

[@ryanlight1013]

You must drive a ford

[@Breadstickwicks]

@ryanlight1013 its cousin the kia🤣🤣

[@Yummy2u]

Saved up $30k for a new car in 2023. Ended up buying two used cars (SUV and convertible) for $27k. I was only able to do what I did and negotiate because I paid CASH. You negotiate and research cars like an expert when you are using your hard earned cash. It just hits differently.

[@akhilshekar7470]

Wait you bought both the cars for 27k?

[@keashablew7728]

I must know what you bought and mileage.

[@thehospitalguy1657]

bought my 2018 Ford F-150 in 2019 with 16,000 miles on it. Saved $17,000 on the truck by buying it used. I plan on keeping it forever.

[@Kalvain14]

Selling a car in a private sale with a lien present on the title is more complicated than most buyers will accept.

[@johnsradios484]

Gotta hard to find a 7 year old car with 20 to 35 k

[@KeeptheChange41]

Looking at the opportunity cost of these car payments is absolutely eye opening. If this money were invested instead it's not unreasonable for it to be a half million dollar mistake.

[@platinumjason]

Bought a CPO 2019 Corolla with 33k miles for 14500. Will keep this until it's no longer road worthy.

[@Chew_bacca1138]

Hey Graham, Hope you're doing well, Have a great weekend.

[@TheGrahamStephanShow]

you to!

[@ernestdupree3450]

Lotus Elise is currently selling for around 50k. Used supras cost roughly the same as a new one. Pickup trucks and sports cars don't seem to depreciate much so buying new may be better than used in some cases.

[@noseboop4354]

But those kind of cars have much higher fuel, insurance and maintenance costs, so it might not be better.

[@zerafians8145]

its not...peoples perspectives are skewed and typically ALWAYS buy more than they can afford. I can find over 40,000 vehicles in the US under 50k miles new than 2015 for $10-25k.

[@aminagaliyeva6079]

Hi Graham! Can you make an updated video on your Tesla? How much does it cost to run and maintain it? How much is it to charge it and so on? I’m looking to buy one used

[@JineshGheeya-l7w]

Conspicuous absence of the elephant in the room

[@foobarFR]

"Americans and their f*** cars!" - Caleb Hammer, 2023.

[@samuelwilliams7331]

Get an old car and learn how to maintain. The tools will cost you up front but a big payoff long term.

[@jackattackhissnack]

My 1997 Buick lesabre is worth a few thousand dollars more than I paid for it lol.

[@beefy45]

Here is the issue, base model vehicles are going for over 25k new off the lot. Base model cars are almost impossible to find unless your local dealership is an ethical one (they do exist but are rare). Small compact sedans no longer exist so you are forced into buying a 30k+ crossover that is mostly plastic and will breakdown at 50k miles to 150k miles. Blame the EPA for this, auto manufacturers are making larger vehicles to bypass the unreasonable MPG requirements, trucks and SUVs over a certain weight don’t have the same MPG requirements. The only real way for small sedans to meet the 40+ mpg requirement is for them to be hybrids but again that takes a 20k car and bumps it to 25k base, but then add in all the “extras” and you are looking at 32k starting out. Auto manufacturers need to focus on bringing that small sedan back or small truck (something smaller than the ford maverick) and pricing it at 20k with standard options (power windows, power mirrors and cruise control). It can be done but government needs to relax on that MPG requirement.

[@aaa5442]

Yatta ? Didn’t he promote that?

[@AaronCurtis-gg5qf]

Is it just me or does Graham talk like he's drunk when he's on the Graham Stephan show vs his other channels?

[@TheGrahamStephanShow]

haha it's just completely unscripted

[@MrMockingbrd]

Its because people keep paying.

[@wastedtimeagain3816]

I live in the forest off berries and pine cones. Best financial decision I ever made

[@mhodge0890]

Yea yea cars are a depreciating Asset. Glad to have an automatic 500 net worth on my paid off car

[@georgek.5817]

You didn’t get a free car, close enough though and only because the same 30k couple years later could buy you a whole lots less worth of stuff due to money manipulation aka inflation.

[@Stittsy1963]

Congratulations on the marriage! Noticed the ring has been on for about two episodes. How has being married affected your financial outlook?

[@jodensmith5093]

I think buying a new car is fine if you plan on owning it for 20 years and taking complete and perfect care of it

[@spike2nena]

How do you say all this then promote Range Rovers?

[@chris56a]

no its not i just got an suv for 9%interest and 360 a month 2021 ford ecosport

[@akiemsmall2828]

Penfed wouldn’t give me crap 🤣🤣🤣 13:12

[@Baiyoubai]

I keep hearing the average new car price is $55k. Can anyone educate me on how that average was calculated? I mean, did it just sum up the price of all new car models and divide that by the number of models, or did it take into account expected sales or production volume? What I mean is, the average price of one Toyota Corolla ($25k) and one Bugatti Veyron ($1.6m) is roughly $0.8 million, but the average price of all Corollas sold in 2023 (~230,000) and all Veyrons sold in 2023 (40?) is just a bit over $25k...

[@HyperVegitoDBZ]

They count registrations and average the number based on the value on the invoice.

[@youknowwithMartyKauffman]

That sure would be crazy if the car got possessed

[@diptisingh6762]

I saw to the Tesla truck in San Antonio. It's the ugliest metal box on wheels. My opinion only.

[@kwazar6725]

Your advice is mostly applicable in the us. Just mention that.

[@hj9808]

I hate and love my good ol’ Honda Odyssey.

[@DarkDramon]

A 96 month finance term!?!? If you still have term left on that, you deserve your money issues

[@VladdiYT]

there is one good thing that's gonna come within the next few months. Once Trump becomes president he said on the nelk podcast that he would lower inflation to back when he was in office in 2017

[@gianttwinkie]

If the mechanic is bad, they will take a long time to fix your car. And since you pay per hour, it costs more to get a bad mechanic. Sad.

[@sergiyradonezhsky634]

is it me or is Graham's voice seem higher pitched in this vid?

[@iTzDritte]

I appreciate the subdued thumbnail.

[@TheJdmfreek]

i will never buy a new car or get a car on payments

[@RoseBeeGold]

one of my favorite

[@kylecouture1917]

I only buy cars $15,000 and less and only with cash.

[@kwazar6725]

Evs are too heavy and too dangerous and too impractical

[@CatsMeowPaw]

Cars too expensive? There is a solution. Stop buying monster SUVs. No, you do not need a 4000 pound vehicle to carry one child.

[@cooper410]

I just bought a f150 tremor and even though my credit score is in the 760’s I have a 8.25 interest rate. And my monthly payments are almost $1200. I can easily afford it but most people cannot and it is absolutely crazy!

[@ingvar1996]

Why did you finance it? Where I live (in the netherlands) financing a car is a no go because unlike a house they lose value so quickly. I find it interesting that in the US financing a car is the norm.

[@seandvideo]

If you can pay cash you can easily afford it.

[@tharpeaddy]

For an f150 that you see every day??? That’s a lot of money lol

[@rxklastz1770]

​@@ingvar1996the thing is if you have good maintenance that truck can last 25 years and be used for it's purpose, I see guys with 25 year old truck they bought new

[@GodCries4Monday]

Great video

[@TheGrahamStephanShow]

Thanks!

[@callalacey]

The Tesla cyber truck is so ugly imho

[@DwightPatel]

your voice sounds funny seems slower doesn't sound the same might want to check mic

[@CryptoKyle86]

Audio is rough to listen to this podcast style. I dunno why but it bugs me not being super clear. I expect better from you brother. Just kidding, but.. lol. Love the content brother

[@undearwearman654]

Yall keep trading in for a new car every year, no wonder yall can’t get out of debt

[@luisrobles5906]

Nobody talks about the financing charge or the cost to borrow the money, that is charged on top of the car loan and interest. There is no limit to financing charges and a car that costs $22000 will end up costing $30000 just because of the financing charges and that’s not even factoring the interest. People need to understand that when they take an auto loan for $20000 it’s really about $35000 by the time it’s paid off.

[@HerbaMachina]

Just don't be an idiot and wait for a 0% financing event, it's not uncommon. Honestly I'd never take an auto financing plan that was higher than 0% because it's so common. If you're paying any interest on an auto loan you messed up.

[@bluetech7128]

Did you delete your wedding video?

[@TheGrahamStephanShow]

Other channel!

[@ryanlight1013]

Only pay cash! Never finance! If you’re smart..

[@dirtyred-ch7mk]

Where can I find a model S for $20K?

[@TheGrahamStephanShow]

Carsandbids! Facebook Marketplace

[@dirtyred-ch7mk]

@@TheGrahamStephanShow Thanks Graham's assistant!

[@banjohieroglyphs]

[[searches for new topics]] well i guess it has to be that one again then

[@mattc5721]

WHOA what did the @TheGrahamStephanShow editors do to your voice?! It's like you're auto-tuned to an octave higher

[@TheGrahamStephanShow]

I used the wrong setting :/

[@mattc5721]

@@TheGrahamStephanShow great content otherwise!

[@Courtney-Alice-Gargani]

Everything is getting too expensive. My dad told me his dad bought a nice car for $10k. My dad told me he remembers gas was under $1 a gallon. And surviving was easier back than.

[@batmayn]

Glad your channel is getting pushed in my feed again! It’s been too long Graham!

[@kingvoh]

Did you change your mic? You sound different

[@TheGrahamStephanShow]

Sorry, wrong mic settings - fixed for the next one!

[@mirabella2154]

What is NOT getting expensive ? 😩

[@Sato4013]

What's the watch?

[@desultorilypanacea]

Grahams next video. I got cybertruck for $40000 from someone who's bankrupt. 😂

[@joelcorley3478]

RE: Insuring cars: They don't mention that the sensor suite on newer vehicles can make repairs and recalibrations much more expensive. This is a problem for both liability and collision coverage.

[@MrRussianGerman]

Use a straw ur gonna stain ur teeth.

[@joelreyes9600]

Graham u need some skin product your aging fast

[@marcmini8137]

audio sounds terrible

[@TheGrahamStephanShow]

Sorry, new mic settings on camera

[@jacobstufflebean2753]

Did you use a potato for a microphone?

[@ricoma6037]

Maybe a Tesla Taxi is the future? No car payment, no insurance payment, no gasoline or maintenance. In trade, you have to schedule your time better. Maybe...

[@TiernanDeFranco]

Is this audio AI lmao

[@TheGrahamStephanShow]

It was a new setting I tried on the camera. Never again 🫣

[@hkmp5kpdw]

I thought you retired…

[@BigPapiNick]

Get your car from Costco. The discount you get is essentially Costco already doing the negotiation for you.

[@TheGrahamStephanShow]

Didn't know that was an option!

[@johntitor5419]

Like for .20 cent coffee

[@bestatdoingnothing3941]

Sounds like AI voice

[@TheGrahamStephanShow]

Different mic setting 😬

[@steadymobbin.]

Graham

[@rbjk]

Agree

[@TheGrahamStephanShow]

Hey!

[@jalengonel]

Why does his voice sound weird

[@TheGrahamStephanShow]

It's a weird mic setting that wasn't tested ahead of time :/

[@bmeares]

Living car free has been the best financial decision I've ever made.

[@emeksb4823]

It is hard in America. I wish the US can improve the availability of their transportation services. Trust me I don’t intend on having a car. It is not healthy at all.

[@ingvar1996]

Same here! I opted to have my leasebudget to be paid out. Living in the netherlands public transit quite good and mostly stressfree. Every now and then I rent a car if i really need to. It saves me so much money and hasle not having a car.

[@hellfire08]

😂

[@waynelewis9110]

In many parts of the US, having no car is pretty tough. However, if you live in an area or situation where a car isn’t needed, car-free is certainly the way to go. But car payment-free is the next best thing. It also helps to share one paid off car with a significant other, which is what I’m doing. New cars are just way too expensive, with average price approaching $50k.

[@tharpeaddy]

Me too I love my e-bikes

[@alticetube]

I don’t understand the saying, “I’m going to drive it until the wheels fall off” or “drive it into the ground”. If the car is getting progressively worse, unreliable and dangerous to drive because the wheels might fall off you failed the responsibility of owning a vehicle. Nobody should brag they own a car that makes their life and others on the road more dangerous. Do pilots say “I’m going to fly this until the wings fall off” or do captains say “I’m going to drive this boat until the hull crack open”?

[@ricoma6037]

I don't want to live in my car, just drive it to the store, restaurant, gas station (not for long I hope. Model II for less than 25k, please!). My first home was 50k. I need to be a multimillionaire before I spend 50k+ on a vehicle. Can I say this one more time, electric vehicle for under 25k. Did I say, I don't want to live in it? Sheesh!!!!

[@Jean-il6ck]

Used Tesla Model 3s are a better deal for $25K and under right now.

[@eegernades]

Blame Elon. US government too. They're trying to block a main thing of capitalism. Competition from foreig markets in the EV space.

[@QuantumNetwork]

Yknow what else is expensive? The mistake you made that ruined your reputation

[@kwhopper1100]

I can buy and insure an airplane for less than the average family car . Boycott the car companies until prices normalize . As for a car shortage there are 278 million registered cars and 233 million licensed drivers there are more cars than people to drive them no way is the market going to stay where it is .

[@mendezviolin]

Literally thought this was an AI deepfake 😬

[@TheGrahamStephanShow]

:o

[@shekharmoona544]

Elon Musk don't like poor people.

[@DopeHusky]

You sound like one of those fake AI videos with this mic

[@memetocute459]

2nd comment