When I was 17 years old, I bought a 1971 Volkswagen Super Beetle for $500.00 I'm 53 now and still driving the same car. I've replaced the engine three times and had some work done to it over the years, but it's now worth well over $15,000.00, still gets 35 mpg and is a great car. I've owned other vehichles over the years, but will probably always have my little red bug :)
I bought a 2014 Toyota Prius 3 years ago for $4900 and $5500 walking out the door and still driving it today. My dad taught me to pay cash for cars and I’ve stayed with that. I also bought a 2018 mobile home and land for 40k. I don’t feel the need to live lavish. I live by the lake and love it.
OMGOSH We bought Dave Ramsey's book on how to get out of debt because we wanted to retire...took 3 years (we had credit cards, 2 car payments and a college loan) but got completely out of debt. It is so peaceful. We retired and will NEVER go into debt again. It is sooooo free-ing that debt is just incredibly unattractive to the point of having that freedom is so much nicer than anything we could possibly purchase!
Dave Ramsey is awesome 🤩!! After I was widowed, I watched him everyday, and I learned how to stay out debt 🎉 I’m disabled 😊on a fixed income so I can’t afford to BE in debt!! ♥️
My 1995 Toyota Tercel has 447,000 miles on it and it is very reliable. It’s the best car I ever had. I bought it when it had 225,000 miles on it and it ran like a new car. People want me to get rid of it because it is old but I will never do that.
Wow, that's amazing. I had a 98 Tercel 5:28 with much less miles and I had to pop oil in it about every week. Definitely didn't have the same experience that you did that is really incredible.
Amazing! My prior van I bought news AWD Chrysler Town and Country-- leather seats, tow pkg etc...very nice. Thought would be amazing. By 80k I traded it in toward a used Toyota Siena that was top of the line when new. It is a 2005 and has like 225k miles and has been trouble-free! I love it. It has been hit by other drivers and a deer and has dings from every car anybody ever parked next to it so its not pretty but it has been great! I really love your story!!
Oh ! The reason I dumped that Town and Country is that it was a POS and I had replaced so many mechanical things on it repeatedly by 80k miles that I was DONE. I had a 3-yr-old and a set of infant twins and just couldn't be stranded again!
New cars are bad but I think a real estate "time share" is the ultimate worst financial error anyone can make. I have tried to talk to several people who were going to sign onto those "time share" vacation deals....2 were in my family, and 2 were friends. None of them listened. Well, 2 of them bought into a conglomerate on Madison Avenue in NYC. About 25 years ago, for the mere price of $18,000, you could get a "time share" unit and have 1 weekend per year. (Nevermind that this has to be the most expensive vacation for 2 days EVER!) Turned out, it was a con...I mean, NYC...buy the clue! The corporation was a shell corporation and the corporation, and holdings, have been seized, pending legal outcomes. Meanwhile, people can't unload their "time share" deals....they have to still may the annual fees, too -- more than $1,800 last I heard. Nightmare!
You can put the car payment amount in your bank every month. If you can't afford to do that, then you can't afford the payment at all If you can, then keep doing that until you buy your car. You will then have a great down payment.
It not just the cost of the car itself; in urban areas, parking is also very pricey. If you're living in an urban center, it's unlikely that you have your own driveway or a parking space included in your rent. On another note, if you can't buy your car outright and are making monthly payments, then you don't have $70,000 to put a downpayment on an average-priced home.
The car you can pay cash for is the car you can afford. PP will probably say I’m not smart because most of the cars that I’ve bought over the years have been new cars, however in most cases I paid cash and also, I keep them a minimum 15yrs and in many cases over 20yrs.
I just commented the same thing, used cars can have really big problems, we buy new, maintain them and keep them until the wheels fall off. But new cars have become so insanely expensive, it's crazy what they want for new cars in the last couple years.
Love your Toyota! I drive a 1995 Toyota Corolla. The registration is $51 per year and the liability insurance is only $24.00 per month here in Iowa. Such freedom from when I bought a new SUV every three years (with loans, of course). Between paid for cars, paid for home and no debt, I only have to work part time and am only in my late 40s. It's a great way to live!
I work in finance since decades. I never bought a new car, and every car I ever bought, was at 0% interest, with 100% down, lol. From what I observed over the years in my job, it is often the people who can afford it the least, who buy new cars.
Plus the insurance was still higher for my old SUV, because the insurance used the cost of labor and repairs. My new car costs only sligtly more in insurance, maybe only 10% more. The host's advice applies to people who are not good with their finances and the ones who never pay more towards the principal. She just lucked out with her old Toyota, but not all used cars are the same. Looks like she is not driving much also.
Bought my 2000 Ford F150 new. Still have it and drive it almost daily. No car payment in the last 18 years. Everything still works and I patch it as I go along.
@rgray3173 you must have lucked out. The F 150 in our family is a junk. Newer from 2015. Codes on dashboard, sensors problems, oil leaks, engine problems. It needed a 2nd extented warranty purchase. Very expensive repairs some not covered by warranty. Gas guzzler. WIll stick with the reliable Toyota from now on.
I've never had a "car payment" in my life. I bought my first used car (Red Chevy Nova convertible 1964) for $500. When it was totaled, i saved to buy my next used car. When i was without a car, I walked or took public transportation. I only had two brand new cars(paid cash) and I kept them both for 10-15 years. The rust did one of them in as New England winters are tough on cars and I never had a garage. Got my present car when it was a year old and plan on keeping it as long as I can. I could never understand why people pay all that interest. Like Prepper, I started out poor, but being frugal became a way of life. It is so worth it not to be stressed about money.
People cannot figure this stuff out, even when you explain it plainly. I know many people that continue to destroy their futures with foolish things that they cannot afford. I dove a $1K car (happily) for 12 years. Now I have plenty of money. I don't have anything that I want to spend it on, but it's there if I change my mind...
On top of the irresponsible spending on cars, we are in an epidemic of young people (into their 30's) that were never taught how to work on things. They can't fix anything on a car, or in a house. They justify new cars "for the warranty" and pay thousands for someone to fix something in their house that may only cost a few dollars.
Just bought a new to me 1993 corolla with 99k miles in pristine condition for a whopping $3000. Insurance is $30/month. Great on gas….never take out car loans people…don’t make banks rich. Be creative and stop being a victim 😂. My rule of thumb is if you can’t pay cash upfront then you can’t afford it.
@rickyc6463 if the dealer gives extra perks, that are well worth it, such as free lifetime engine warranty if you finance a car, on top of the other warranties, a loan makes sense. But ask about prepay penalty and just pay the car off in few months. Interest will be minimal. This is my strategy.
@@John1908-vo1iv lol I have no debt… I don’t need warranties that’s why I bought a Toyota and loans never make sense. Which has allowed me to build wealth.
My car is 18 years old. However, I did buy it new 18 years ago. At least I know it has never been in an accident and that it has been well-maintained. In my area, there are lots of new cars on the road, as evidenced by the new car stickers! I don't know how people can afford them!
Ny dream car is a 2007 Toyota Corolla LE. I have under 51 thousand miles on it. I saved my money first and paid it off in full, instead of making car payments. I was taught by my parents that if you cannot pay for your car in full, you can't afford it. I am never envious of people with brand new cars, because they are probably making large payments on it including the high interest. My car was brand new when I paid for it in 2007. I love driving my car now in 2024.
I drive an 18 year old Toyota Corolla. Have had it since 2015 and have put no more than $2000 into it over the years. It’s still reliable and the insurance is about $400 a year. Makes great financial sense IMO
I sold my car and my wife and I share her car when we are home and not traveling. We save thousands on insurance, maintenance, depreciation, licensing fees etc. and it’s paid for.
I've been driving for over 40 years and never bought a new car. When I see a new car I like, I wait til' it's about 10 years old, and start looking at ads for a cheap one that needs repairs I can do. That's a great way to get your dream car. I just bought one for 600 bucks, I'll be doing a video series on restoring it in the future. Also, if you have an older car, you can learn to fix it yourself and save even more money. The newer the car, the more difficult it is to repair. And don't even get me started on the ones you plug in. Another great video thanks Amber.
In my area, believe it or not, you can buy a decent little 2 bedroom home for about $60,000. Fixer upper for less. Not fancy but definitely adequate. We don't start out where we end up. We work our way up. It seems like people are choosing to live in expensive locations and then spend their resources on a vehicle. I wouldn't spend that kind of money on a car. Buy a home instead, even if you have to fix it up. That's my free advice for the day. Drive a used car. Enjoy having no car payment and a house payment cheaper than rent. PS: Regular maintenance will help your used car perform better and last longer.
Bought a used 2003 a year ago for only 400.00. I’ve had no problems with it. Everyone told me if it’s only 400 it must be junk. Best 400 I ever spent in my life
5 years ago I gave my mom a 2000 Honda Accord LX, my own car. Two years earlier I bought the car for $2500 in an auction. It had only about 50,000 miles and the carfax showed terrific maintenance, one owner. The car has now 80,000 miles and perfect. My car the last 5 years? a 2002 Accord SE I bought in 2020, with 38,000 miles & paid $3,400.
Hondas never die, best cars ever. (Look up Million Mile Joe). I gave my 1988 Civic wagon as a gift to a disabled tenant of mine. It had 250K on the clock, and still ran like a top.
I’m in shock of those registration prices. I’ll happily renew my $22 registration on my 2003 Toyota Highlander and be thankful it’s not an insane price. It’s also the first vehicle I ever financed, my other two vehicles were paid in cash. I did learn, thank you Dave Ramsey, to save for big purchases and to have an emergency fund so issues I had when I needed to finance won’t happen.
I will admit that I have purchased new cars. However, I bought a stripped Toyota Tercel and drove it for 13 years. No regrets. Rinse and repeat. I stepped up each time, always buying base model and keeping them a long time. I have never been a fancy car person
2006 Nissan Altima here ! 227,000 miles Still putting along . Keep your maintenance up & your oil changed !!! You too can have no car payment with inflated interest and $40.00 a month for liability insurance…….. also , I choose to have a paid in full iPhone 13 Pro - Maxx . I have second - rate or cut service ( never been effected ) but, it could happen in the slight chance there is an emergency and lines are flooded …. Anyways ….. it’s like a pre- paid plan unlimited everything 41.45 a month …… still have what you want & need but, there are so so many other ways to not be living paycheck to paycheck with your life . Look at other options . I have AT& T BTW
We bought a brand new Chevy Spark in 2020 for $12,000. It still has manual crank windows and just a radio but it has a back up camera and plugs for our phones so we can have gps on the car screen. It also has manual locks. Trade-offs that I'll gladly deal with. The other car we were looking at was $3,000 more with 120,000 miles and was 11 years old. There are deals out there. Our Spark was in the showroom...last one as the 2021's were arriving the next week.
I absolutely agree with what you said. People have a lot of negative things to say about Dave but they never want to reduce the lifestyles. What he says does work, a person has to be willing to do it, sacrifice time, some luxuries and work hard. People won't have to sacrifice forever, plus the long term benefits of peace that you get afterwards is priceless.
I am still driving my 2007 Honda Pilot SUV. I love it. Bought it new and plan on keeping it until I die. Just replaced the timing belt and water pump. Good to go for another 5-7 Years.
Bought a new Honda crv after owning a car for 17 years. Bought it for safety reasons - babysitting new grandbaby. Paid half in cash, financed for 4 BUT plan is to pay off in November! So only owed one years of interest. This may be my last car purchased ever, lol
@tsa-wnc me too. For safety for my children and fuel economy. Old SuV had non working airbags, burning oil, started to cost too much in repairs. I am planning on keeping this car 20+ years.
I love my Honda CRV that I bought new in 2016. It’s paid off and still going strong. I just keep up with the maintenance. It’s great on gas too. Plan to drive this car until it dies.
Thanks and you are 100% right. We always by Toyotas. My husband used to be a salesman. We had a Camry with almost 500,000 miles on it. We gave it to our neighbors grand daughter and she drove it to her summer job and to school😊 We kept maintenence up and changed the timing belt when needed ( now alot of them have timing chains) but it was a great car. when we retired we bought a 2016 Rav 4 / We plan to keep it forever. Lol We keep it up and we love it. Our grandson the other day said why don't you sell it and buy a new car? I said why would we sell a perfectly good car in this beautiful electric storm blue. Lol, get a car payment or pay the cash and have less retirement funds!!! We love our Rav we see no reason to do that!! I talked to him about the same thing you said today. Hopefully something he'll remember. I wished we had known about Dave Ramsey years ago we definitely believe in his plan. Love seeing the pups playing together😊❤ We're in New Port Richey,FL right now. Waiting for the storm to pass. Very blessed, ❤🙏❤️🙏
The last new car I bought was a 2003 Ford Windstar mini van. At 75,000 miles we replaced the transmission. We gave it to our son when it was 15 tears old. He drove it 3 more years. He sold it for $2000. I would say we got our money's worth. Since then it has been used Toyotas, paid cash. Current car is a 2017 RAV4 paid cash in 2019 had 61k miles, it now has 92k on the engine
Just checked for vehicles selling for $4k-$5k and got well over 300 listings before I stopped scrolling. I spent $8000 cash on a Ford F150 plus $2k for tires and maintenance after the purchase. But I'd recommend Honda or Toyota for longevity. A lot of people don't know how to shop Used IMO.
Right. Online shopping has really opened it up, if you are savvy. Even if you fly down south to buy a cheaper, non-rustbelt car, you can get a deal and drive the car back home. It's a strategy.
I thought it was going to be timeshares. My daily driver is a 2007, F-150. My work truck is an 2000, F-550. I got a divorce and realized that I don't enjoy driving fancy cars as much as I enjoy not having a car payment.
Someone gave us a 2003 TDI Diesel Jetta Wagon and we fixed it in our driveway. It has 175,000 miles but it will probably run to 300,000 miles. No car payment
I purchased a new car in 2012. At the time, it was a good choice. I had a 10 year old son, no savings, and needed reliable transportation. Interest rate was low, and I refuse all the nonsense like gap insurance and extended warranty and extended term. It was a Honda CRV, and I still have that paid-for car. It has been very low cost to maintain and extremely reliable. I do need a slightly larger vehicle, and know what I want, and am currently casually looking at 3-6 year old model used car prices so I know what I need to have set aside to pay cash. This is a good video, it really is the reason so many people who have steady income can't get ahead.
I’m 64, when I was young and dump I owned 5 cars and 2 motorcycles from age 15 to 21, yes I was a hustler back than, but from age 22 to 64 I owned 4 vehicles and still own 2 of the 4 today, total cost of all 4 was about 20k, one of the 2 vehicles I still own today is worth minimum 40k due to it now a classic 1967 Camaro rs/ss.
What a good title for 3am ! I love Dave Ramsey and like you think he makes perfect sense! My late husband loved cars but I have never owned a car! Sharing was good for us! Best Wishes to you! Take care , Aussie Lady
I owned the same 1998 Toyota Camry. I loved that car. Sold it around 249,000 miles. Never had one problem with it. I own my 2017 Grand Cherokee outright. I am also satisfied. Thank you for your channel!
i never regretted my purchase of a new toyota tundra. The reason for this is that my intent is always to keep the vehicle until past 400k miles. i am single and old and fat and can't work on my own vehicle. So having a few years of waranty gives me some kind of peace of mind. that being said i purchased my truck before the price of new vehicles went nuts. my plan for my next vehicle is to take cash to either my son in ok or my daughter in south texas and have them help me find a good used vehicle. they both know vehicles and would be able to inspect a vehicle to see if there is anything wrong with them and check the accident records
I have a friend who is extremely well off financially. They drive 20 year old cars. When I asked why you drive a pos car, their reply was " cars are just transportation, the worst investment you can ever make" " I'll buy a property before I will buy a new car". Might be why they have a great portfolio.
We have only purchased new cars. Currently have a 2002 Taurus that is close to rolling over to 100,000. Our other vehicle is a 2019 truck that has zero percent interest. We keep perfect maintenance on both done ourselves.
I had a coworker a few months ago who just bought a 90K Denali truck, then was complaining (fox newser) about the price of eggs. I asked, " how many eggs do you eat per week?" They got quiet quick.
My wife and I drive hand me down hoopties from family that we bought for next to nothing. They get us where we are going without bankrupting us. Best choice I ever made.
A while back a friend stopped by and told me he is selling his family home. He pulled it up on Zillow and it was a very nice 2-story brick house. It looked like a $400,000 home. He told me he could get about $95,000 at best. I just looked up other homes in Mangum Oklahoma and there are a couple homes for sale for a little over $20,000.
I have a 2013 Ford Escape with 198,000 miles on it. It’s still going strong. Maintenance is the key. My son has a 2003 Honda Pilot with 300,000 miles on it. It’s still going strong. When I need another vehicle I will buy used and pay cash.
I've always looked at cars as a luxury not a necessity unless you live in the middle of nowhere and have a zero network of people!! Excellent vid!! 😎 👍
I bought a new Chevy Tracker in 2002,much to the chagrin of my husband.It is running fine today,has 250,000 miles on it.The interior is very clean because the kids were older and no pets were in it, plus I didn't eat in it.I am going to drive it into the ground.
It’s crazy how much we are alike in our thinking! I also have only purchased one new car…a ‘99 Nissan Sentra…it was a great car, but I’d go for a Toyota over that for sure. I have a 99 Mountaineer that will be my son’s next year and just purchased a ‘17 Outback for myself. No debt except medical…battled cancer for a few years..but other than that everything is paid off. My boys used to ask me why their dad had to pay me child support…I told them I’d stop making him pay and let him manage that $600 a month…they stopped asking after that. 😂
My best buddy girlfriend in California bought all her clothes at a thrift store. I always told her that her clothes looked great.. my gosh i miss that great girl..
If you keep a car for 10+ years then it’s fine. I tried the used route with PPI and got screwed with repairs. Instead I bought brand new bare bones corolla for 23k. If you take that over 10 years (this car will last 20) then it’s under $200/month excluding gas/insurance. Depreciation is minimal as these cars keep their value
@@Kevin-fn1rn I’m with you. We prefer new cars, and then drive them for ever! I am a frugal car enthusiast. Bought a new 2008 Acura TL. Model year close out, paid $28,000 cash and JUST sold it for $5000. So $23k for 16 years.. loved every minute of driving it. Replaced it with a new Subaru, also paid $28,000 cash. I expect to drive it another 16 years…. Deep regret for every used car I bought prior to the Acura.. always something wrong.. and I’m not handy.. the key is no car loans! Always saving for the next one…. I budget $200/mo towards a new car every 10 years, and then happily squeeze out as many bonus years as I can after the 10 year mark.
@@robinbatts8498 yeah exactly. Cars are just an expense that you can’t recoup from and have to deal with. Might as well have peace of mind you are sole and first owner. If you are making sure car MSRP wasn’t more than 25% of your income yearly at time of purchase, it’s completely fine
@@robinbatts8498or you can get a loan for the extra dealer perks, but do not tell the dealer, and pay it off in few months. I am getting free lifetime engine warranty. Can't beat that. I will pay off this new Camry hybrid in 6 months or so.
I have never and will never buy a new car, not when it loses money as soon as you drive it away! If you do that, it's either stupidity or ego, or perhaps a combination. I drive a 12 year old car with less than 70k on the clock. I keep it in tip top mechanical condition, because that's how to make it last. I will drive it until it reaches the end of its useful life.
We purchased a new car in 2008, we still have it. I had some severe health issues that might have turned out badly. I bought my wife a new car and paid cash. I don't regret it. Great gas mileage and my wife has a known reliable car. The 2008 is still great but it's 16 years old.
I have a 9 year old ford focus. Currently at the dealership being repaired as the timing chain broke that I paid €1200 last summer to replace. They are covering the costs thank god. I will keep this car for another 10+ years god willing
i paid $3100 for a 2006 bmw x3 and it had 21,500 miles on it. it only has 38,000 on it now. i will NEVER pay 40-100K for a car forget that. i can and freeze food. buy fruits when they buy 1 get 1 and freeze them. we raise our own protein. we are in south florida but we are moving back to western ny to live off grid and grow more food. easier to prep there
That’s why I love this channel intelligence,common sense, and you shoot straight from the hip. We made all of our decisions based on the future. When you plan and are reasonable you can live a good life come what may. God first then follow what he says about the way you should live. Like proverbs is a great resource the 10 commandments even better. Believe me people what she’s saying is truth. Don’t try to keep up with others live your lane. Even during this rough time for everyone and the pandemic we have Gods peace and we are great full that stuff will not satisfy any one. Thanks Pepper Princess. Brooks ♥️👍🙏🇺🇸🇮🇱🕊️😏
We pay with cash and save up. I like the warranties. Our last cars lasted 25 years. Our first house cost 40K so it is kinda a mind bonk! End of year markdown move em out Honda/Toyota hopeful!! We paid off our first house early and paid this retirement house 14 years early!
When I was 17 years old, I bought a 1971 Volkswagen Super Beetle for $500.00 I'm 53 now and still driving the same car. I've replaced the engine three times and had some work done to it over the years, but it's now worth well over $15,000.00, still gets 35 mpg and is a great car. I've owned other vehichles over the years, but will probably always have my little red bug :)
My Dads business bought a brand new 1971 bug for 1995 bucks.. it was not a super beetle bit had some of the look of one. So maybe a mid year model
@@mekon1971 👊 Red punch buggie and no return. 😉
Thought you were like me until you mentioned the other cars
@@ninerknight5351 Worked in construction - pretty much had to have a truck :)
I bought a 2014 Toyota Prius 3 years ago for $4900 and $5500 walking out the door and still driving it today. My dad taught me to pay cash for cars and I’ve stayed with that. I also bought a 2018 mobile home and land for 40k. I don’t feel the need to live lavish. I live by the lake and love it.
As the driver of a 22 year old Camry, I'm grateful for the people who continue to buy new cars in order to keep the used car market supplied.
OMGOSH We bought Dave Ramsey's book on how to get out of debt because we wanted to retire...took 3 years (we had credit cards, 2 car payments and a college loan) but got completely out of debt. It is so peaceful. We retired and will NEVER go into debt again. It is sooooo free-ing that debt is just incredibly unattractive to the point of having that freedom is so much nicer than anything we could possibly purchase!
Dave Ramsey is awesome 🤩!! After I was widowed, I watched him everyday, and I learned how to stay out debt 🎉 I’m disabled 😊on a fixed income so I can’t afford to BE in debt!! ♥️
My 1995 Toyota Tercel has 447,000 miles on it and it is very reliable. It’s the best car I ever had. I bought it when it had 225,000 miles on it and it ran like a new car. People want me to get rid of it because it is old but I will never do that.
Wow!! That is getting your mileage.
Keep ignoring them, unless they want to buy you a car.
Wow, that's amazing. I had a 98 Tercel 5:28 with much less miles and I had to pop oil in it about every week. Definitely didn't have the same experience that you did that is really incredible.
Amazing! My prior van I bought news AWD Chrysler Town and Country-- leather seats, tow pkg etc...very nice. Thought would be amazing. By 80k I traded it in toward a used Toyota Siena that was top of the line when new. It is a 2005 and has like 225k miles and has been trouble-free! I love it. It has been hit by other drivers and a deer and has dings from every car anybody ever parked next to it so its not pretty but it has been great! I really love your story!!
Oh ! The reason I dumped that Town and Country is that it was a POS and I had replaced so many mechanical things on it repeatedly by 80k miles that I was DONE. I had a 3-yr-old and a set of infant twins and just couldn't be stranded again!
❤ Common sense ain’t so common. Thanks for trying to teach it
I appreciate calling out the BS. Most of the 'poor' people I've met simply have to adjust their priorities.
New cars are bad but I think a real estate "time share" is the ultimate worst financial error anyone can make.
I have tried to talk to several people who were going to sign onto those "time share" vacation deals....2 were in my family, and 2 were friends. None of them listened. Well, 2 of them bought into a conglomerate on Madison Avenue in NYC. About 25 years ago, for the mere price of $18,000, you could get a "time share" unit and have 1 weekend per year. (Nevermind that this has to be the most expensive vacation for 2 days EVER!)
Turned out, it was a con...I mean, NYC...buy the clue! The corporation was a shell corporation and the corporation, and holdings, have been seized, pending legal outcomes. Meanwhile, people can't unload their "time share" deals....they have to still may the annual fees, too -- more than $1,800 last I heard. Nightmare!
Wow! I wouldn't keep paying that maintenance fee if I couldn't use it.
You can put the car payment amount in your bank every month. If you can't afford to do that, then you can't afford the payment at all
If you can, then keep doing that until you buy your car. You will then have a great down payment.
I bought a 2007 Toyota Sienna 5 YEARS AGO for $3k, and it's still going strong 💪 I am a forever loyal to Toyota from now on.
It not just the cost of the car itself; in urban areas, parking is also very pricey. If you're living in an urban center, it's unlikely that you have your own driveway or a parking space included in your rent. On another note, if you can't buy your car outright and are making monthly payments, then you don't have $70,000 to put a downpayment on an average-priced home.
I bought a 2006 Toyota Highlander 6 years ago for $7,500 and it doesn't even have 200,000 miles on it yet. Best vehicle purchase ever for me!
The car you can pay cash for is the car you can afford.
PP will probably say I’m not smart because most of the cars that I’ve bought over the years have been new cars, however in most cases I paid cash and also, I keep them a minimum 15yrs and in many cases over 20yrs.
I just commented the same thing, used cars can have really big problems, we buy new, maintain them and keep them until the wheels fall off. But new cars have become so insanely expensive, it's crazy what they want for new cars in the last couple years.
My old SUV started to cost thousands and more in yearly repairs.
I've only bought used that I can pay for in full, carry only insurance required by law.
Off topic, your makeup looks particularly beautiful today!
You and Dave Ramsey make sense to this AussieLady Blessings!
Love your Toyota! I drive a 1995 Toyota Corolla. The registration is $51 per year and the liability insurance is only $24.00 per month here in Iowa. Such freedom from when I bought a new SUV every three years (with loans, of course). Between paid for cars, paid for home and no debt, I only have to work part time and am only in my late 40s. It's a great way to live!
I work in finance since decades. I never bought a new car, and every car I ever bought, was at 0% interest, with 100% down, lol. From what I observed over the years in my job, it is often the people who can afford it the least, who buy new cars.
Plus the insurance was still higher for my old SUV, because the insurance used the cost of labor and repairs. My new car costs only sligtly more in insurance, maybe only 10% more. The host's advice applies to people who are not good with their finances and the ones who never pay more towards the principal. She just lucked out with her old Toyota, but not all used cars are the same. Looks like she is not driving much also.
Bought my 2000 Ford F150 new. Still have it and drive it almost daily. No car payment in the last 18 years. Everything still works and I patch it as I go along.
@rgray3173 you must have lucked out. The F 150 in our family is a junk. Newer from 2015. Codes on dashboard, sensors problems, oil leaks, engine problems. It needed a 2nd extented warranty purchase. Very expensive repairs some not covered by warranty. Gas guzzler. WIll stick with the reliable Toyota from now on.
I love my 23 years old Seat Ibiza. I was thinking of getting a bumper sticker "OLD - but paid OFF. SLOW - but in front of you."
Kia’s have come a long way! I have a 2014 Kia Optima with over 200k and it’s still going strong 💪🏽
Also buying a Time Share, especially one that is not easy to resell and get out of.
I agree with the new car being a very bad choice.
You are right!
Hey, UK, here. I buy all my cars in cash. My 2006 Ford cost £2000 or $2681 with 45k miles. That's a new car!!
Sold my car at start of pandemic happy as can be 😂
Electric bike , walking , public transportation 👍
I've never had a "car payment" in my life. I bought my first used car (Red Chevy Nova convertible 1964) for $500. When it was totaled, i saved to buy my next used car. When i was without a car, I walked or took public transportation. I only had two brand new cars(paid cash) and I kept them both for 10-15 years. The rust did one of them in as New England winters are tough on cars and I never had a garage. Got my present car when it was a year old and plan on keeping it as long as I can. I could never understand why people pay all that interest. Like Prepper, I started out poor, but being frugal became a way of life. It is so worth it not to be stressed about money.
People cannot figure this stuff out, even when you explain it plainly. I know many people that continue to destroy their futures with foolish things that they cannot afford.
I dove a $1K car (happily) for 12 years. Now I have plenty of money. I don't have anything that I want to spend it on, but it's there if I change my mind...
43 year old woman .. never owned a car. Rocky and Nala are so fricken adorable!! 😍 I could watch them for hours!
On top of the irresponsible spending on cars, we are in an epidemic of young people (into their 30's) that were never taught how to work on things. They can't fix anything on a car, or in a house. They justify new cars "for the warranty" and pay thousands for someone to fix something in their house that may only cost a few dollars.
Just bought a new to me 1993 corolla with 99k miles in pristine condition for a whopping $3000. Insurance is $30/month. Great on gas….never take out car loans people…don’t make banks rich. Be creative and stop being a victim 😂. My rule of thumb is if you can’t pay cash upfront then you can’t afford it.
@rickyc6463 if the dealer gives extra perks, that are well worth it, such as free lifetime engine warranty if you finance a car, on top of the other warranties, a loan makes sense. But ask about prepay penalty and just pay the car off in few months. Interest will be minimal. This is my strategy.
@@John1908-vo1iv lol I have no debt… I don’t need warranties that’s why I bought a Toyota and loans never make sense. Which has allowed me to build wealth.
My car is 18 years old. However, I did buy it new 18 years ago. At least I know it has never been in an accident and that it has been well-maintained. In my area, there are lots of new cars on the road, as evidenced by the new car stickers! I don't know how people can afford them!
Ny dream car is a 2007 Toyota Corolla LE. I have under 51 thousand miles on it. I saved my money first and paid it off in full, instead of making car payments. I was taught by my parents that if you cannot pay for your car in full, you can't afford it. I am never envious of people with brand new cars, because they are probably making large payments on it including the high interest. My car was brand new when I paid for it in 2007. I love driving my car now in 2024.
I drive an 18 year old Toyota Corolla. Have had it since 2015 and have put no more than $2000 into it over the years. It’s still reliable and the insurance is about $400 a year. Makes great financial sense IMO
I sold my car and my wife and I share her car when we are home and not traveling. We save thousands on insurance, maintenance, depreciation, licensing fees etc. and it’s paid for.
I sold my wife too, finally got out of debt
@@obscurecult the trick , when selling the wife, is the no return policy.
I've been driving for over 40 years and never bought a new car. When I see a new car I like, I wait til' it's about 10 years old, and start looking at ads for a cheap one that needs repairs I can do. That's a great way to get your dream car. I just bought one for 600 bucks, I'll be doing a video series on restoring it in the future. Also, if you have an older car, you can learn to fix it yourself and save even more money. The newer the car, the more difficult it is to repair. And don't even get me started on the ones you plug in. Another great video thanks Amber.
Best line heard was regret we too regret so many things like you do lady this is what is called learning
In my area, believe it or not, you can buy a decent little 2 bedroom home for about $60,000. Fixer upper for less. Not fancy but definitely adequate. We don't start out where we end up. We work our way up.
It seems like people are choosing to live in expensive locations and then spend their resources on a vehicle. I wouldn't spend that kind of money on a car. Buy a home instead, even if you have to fix it up. That's my free advice for the day. Drive a used car. Enjoy having no car payment and a house payment cheaper than rent.
PS: Regular maintenance will help your used car perform better and last longer.
Where is that?
Bought a used 2003 a year ago for only 400.00. I’ve had no problems with it. Everyone told me if it’s only 400 it must be junk. Best 400 I ever spent in my life
5 years ago I gave my mom a 2000 Honda Accord LX, my own car. Two years earlier I bought the car for $2500 in an auction. It had only about 50,000 miles and the carfax showed terrific maintenance, one owner. The car has now 80,000 miles and perfect.
My car the last 5 years? a 2002 Accord SE I bought in 2020, with 38,000 miles & paid $3,400.
Hondas never die, best cars ever. (Look up Million Mile Joe). I gave my 1988 Civic wagon as a gift to a disabled tenant of mine. It had 250K on the clock, and still ran like a top.
Ugh I'm only 24 and I'm so glad I found your channel !
@@ParadiseDior-n9u only?
I’m in shock of those registration prices. I’ll happily renew my $22 registration on my 2003 Toyota Highlander and be thankful it’s not an insane price. It’s also the first vehicle I ever financed, my other two vehicles were paid in cash. I did learn, thank you Dave Ramsey, to save for big purchases and to have an emergency fund so issues I had when I needed to finance won’t happen.
Yeah. Those cars are out there. We just got a 1999 Buick LeSabre with 48,000 miles for $2,300. We love it.
Bought new 4Runner. Paid cash. Negotiated well. Very happy and I keep my cars for 6-12 years.
We just sold our 1997 VW Golf with 286K miles and bought a 2010 Lexus, with only 30K miles. (We will own this for a looooong time!)
I love my 2009 ford focus I want to drive this car as long as I can it has 210,000 miles on it and is still running fabulous 😊
Leased a 2022 BWM x4 for 700+ a month. Lease ended could not be happier. Now I am driving a 2015 Ford no note!!!!!!!!
I will admit that I have purchased new cars. However, I bought a stripped Toyota Tercel and drove it for 13 years. No regrets. Rinse and repeat. I stepped up each time, always buying base model and keeping them a long time. I have never been a fancy car person
2006 Nissan Altima here ! 227,000 miles Still putting along . Keep your maintenance up & your oil changed !!! You too can have no car payment with inflated interest and $40.00 a month for liability insurance…….. also , I choose to have a paid in full iPhone 13 Pro - Maxx . I have second - rate or cut service ( never been effected ) but, it could happen in the slight chance there is an emergency and lines are flooded …. Anyways ….. it’s like a pre- paid plan unlimited everything 41.45 a month …… still have what you want & need but, there are so so many other ways to not be living paycheck to paycheck with your life . Look at other options . I have AT& T BTW
We bought a brand new Chevy Spark in 2020 for $12,000. It still has manual crank windows and just a radio but it has a back up camera and plugs for our phones so we can have gps on the car screen. It also has manual locks. Trade-offs that I'll gladly deal with. The other car we were looking at was $3,000 more with 120,000 miles and was 11 years old. There are deals out there. Our Spark was in the showroom...last one as the 2021's were arriving the next week.
I absolutely agree with what you said. People have a lot of negative things to say about Dave but they never want to reduce the lifestyles. What he says does work, a person has to be willing to do it, sacrifice time, some luxuries and work hard. People won't have to sacrifice forever, plus the long term benefits of peace that you get afterwards is priceless.
Debt is financial cancer
I am still driving my 2007 Honda Pilot SUV. I love it. Bought it new and plan on keeping it until I die. Just replaced the timing belt and water pump. Good to go for another 5-7 Years.
Bought a new Honda crv after owning a car for 17 years. Bought it for safety reasons - babysitting new grandbaby. Paid half in cash, financed for 4 BUT plan is to pay off in November! So only owed one years of interest. This may be my last car purchased ever, lol
@tsa-wnc me too. For safety for my children and fuel economy. Old SuV had non working airbags, burning oil, started to cost too much in repairs. I am planning on keeping this car 20+ years.
I love my Honda CRV that I bought new in 2016. It’s paid off and still going strong. I just keep up with the maintenance. It’s great on gas too. Plan to drive this car until it dies.
That car will likely outlast you if you take care of it.
I am now 61 years old and finally learned my lesson on vehicles as well as a lot of things!
Thanks and you are 100% right. We always by Toyotas. My husband used to be a salesman. We had a Camry with almost 500,000 miles on it. We gave it to our neighbors grand daughter and she drove it to her summer job and to school😊 We kept maintenence up and changed the timing belt when needed ( now alot of them have timing chains) but it was a great car. when we retired we bought a 2016 Rav 4 / We plan to keep it forever. Lol We keep it up and we love it. Our grandson the other day said why don't you sell it and buy a new car? I said why would we sell a perfectly good car in this beautiful electric storm blue. Lol, get a car payment or pay the cash and have less retirement funds!!! We love our Rav we see no reason to do that!! I talked to him about the same thing you said today. Hopefully something he'll remember. I wished we had known about Dave Ramsey years ago we definitely believe in his plan. Love seeing the pups playing together😊❤ We're in New Port Richey,FL right now. Waiting for the storm to pass. Very blessed, ❤🙏❤️🙏
The last new car I bought was a 2003 Ford Windstar mini van. At 75,000 miles we replaced the transmission. We gave it to our son when it was 15 tears old. He drove it 3 more years. He sold it for $2000. I would say we got our money's worth. Since then it has been used Toyotas, paid cash. Current car is a 2017 RAV4 paid cash in 2019 had 61k miles, it now has 92k on the engine
Just checked for vehicles selling for $4k-$5k and got well over 300 listings before I stopped scrolling. I spent $8000 cash on a Ford F150 plus $2k for tires and maintenance after the purchase. But I'd recommend Honda or Toyota for longevity. A lot of people don't know how to shop Used IMO.
Right. Online shopping has really opened it up, if you are savvy. Even if you fly down south to buy a cheaper, non-rustbelt car, you can get a deal and drive the car back home. It's a strategy.
I just was presented your channel by YT or algorithms or whatever. I LOVE your videos! Thank you for sharing your thoughts and your life!
I pay cash for my cars and drive them 10 years
I drive a 2005 Yukon that I bought new back in 2005 for 39,900. That's will be the last new one I ever buy.
I thought it was going to be timeshares.
My daily driver is a 2007, F-150. My work truck is an 2000, F-550. I got a divorce and realized that I don't enjoy driving fancy cars as much as I enjoy not having a car payment.
Someone gave us a 2003 TDI Diesel Jetta Wagon and we fixed it in our driveway. It has 175,000 miles but it will probably run to 300,000 miles. No car payment
You can’t go wrong with a Toyota.
True dat even my mechanic has one and says they’d go broke if everyone had one!
I bought a !((& Kia Sephia. Best car I ever owned. I was hit head on by a semi and the car saved my life.
I purchased a new car in 2012. At the time, it was a good choice. I had a 10 year old son, no savings, and needed reliable transportation. Interest rate was low, and I refuse all the nonsense like gap insurance and extended warranty and extended term. It was a Honda CRV, and I still have that paid-for car. It has been very low cost to maintain and extremely reliable. I do need a slightly larger vehicle, and know what I want, and am currently casually looking at 3-6 year old model used car prices so I know what I need to have set aside to pay cash. This is a good video, it really is the reason so many people who have steady income can't get ahead.
I’m 64, when I was young and dump I owned 5 cars and 2 motorcycles from age 15 to 21, yes I was a hustler back than, but from age 22 to 64 I owned 4 vehicles and still own 2 of the 4 today, total cost of all 4 was about 20k, one of the 2 vehicles I still own today is worth minimum 40k due to it now a classic 1967 Camaro rs/ss.
What a good title for 3am ! I love Dave Ramsey and like you think he makes perfect sense! My late husband loved cars but I have never owned a car! Sharing was good for us! Best Wishes to you! Take care , Aussie Lady
I owned the same 1998 Toyota Camry. I loved that car. Sold it around 249,000 miles. Never had one problem with it. I own my 2017 Grand Cherokee outright. I am also satisfied. Thank you for your channel!
i never regretted my purchase of a new toyota tundra. The reason for this is that my intent is always to keep the vehicle until past 400k miles. i am single and old and fat and can't work on my own vehicle. So having a few years of waranty gives me some kind of peace of mind. that being said i purchased my truck before the price of new vehicles went nuts. my plan for my next vehicle is to take cash to either my son in ok or my daughter in south texas and have them help me find a good used vehicle. they both know vehicles and would be able to inspect a vehicle to see if there is anything wrong with them and check the accident records
Vanity and dept often go hand in hand.
I have a friend who is extremely well off financially. They drive 20 year old cars. When I asked why you drive a pos car, their reply was " cars are just transportation, the worst investment you can ever make" " I'll buy a property before I will buy a new car". Might be why they have a great portfolio.
We have only purchased new cars. Currently have a 2002 Taurus that is close to rolling over to 100,000.
Our other vehicle is a 2019 truck that has zero percent interest. We keep perfect maintenance on both done ourselves.
I had a coworker a few months ago who just bought a 90K Denali truck, then was complaining (fox newser) about the price of eggs. I asked, " how many eggs do you eat per week?" They got quiet quick.
@@jamesspash5561 90k….. ridiculous 🙄. Your comeback was awesome!
My wife and I drive hand me down hoopties from family that we bought for next to nothing. They get us where we are going without bankrupting us. Best choice I ever made.
Love your videos Amber! Keep it up please 😊. God bless you Sweetheart 🙏💛
A while back a friend stopped by and told me he is selling his family home. He pulled it up on Zillow and it was a very nice 2-story brick house. It looked like a $400,000 home. He told me he could get about $95,000 at best. I just looked up other homes in Mangum Oklahoma and there are a couple homes for sale for a little over $20,000.
Dave Ramsey and you changed my life right when i needed it
Our vehicle has around 300,000 miles on it & it still runs great. We've put some money into it, but it still gets 32 on the highway .
" You can't argue w math coz math has no feelings "😳...🤣😂🤣 Right out the gate LOVE IT!
I have a 2013 Ford Escape with 198,000 miles on it. It’s still going strong. Maintenance is the key. My son has a 2003 Honda Pilot with 300,000 miles on it. It’s still going strong. When I need another vehicle I will buy used and pay cash.
I've always looked at cars as a luxury not a necessity unless you live in the middle of nowhere and have a zero network of people!! Excellent vid!! 😎 👍
Correct depreciating asset avoid
I bought a new Chevy Tracker in 2002,much to the chagrin of my husband.It is running fine today,has 250,000 miles on it.The interior is very clean because the kids were older and no pets were in it, plus I didn't eat in it.I am going to drive it into the ground.
It’s crazy how much we are alike in our thinking! I also have only purchased one new car…a ‘99 Nissan Sentra…it was a great car, but I’d go for a Toyota over that for sure. I have a 99 Mountaineer that will be my son’s next year and just purchased a ‘17 Outback for myself. No debt except medical…battled cancer for a few years..but other than that everything is paid off. My boys used to ask me why their dad had to pay me child support…I told them I’d stop making him pay and let him manage that $600 a month…they stopped asking after that. 😂
My best buddy girlfriend in California bought all her clothes at a thrift store. I always told her that her clothes looked great.. my gosh i miss that great girl..
My sister is really tough and smart but also simple. She buys everything used. Has millions put away.
YEP! cruisen in my 98 ford ranger, manual everything, bought 3 yrs. ago $3k, luv it!!
I have never bought a new car or financed any car. I drive an older (94 Mercedes wagon) it runs great!! Got it for $2500 a few years ago.
If you keep a car for 10+ years then it’s fine. I tried the used route with PPI and got screwed with repairs. Instead I bought brand new bare bones corolla for 23k. If you take that over 10 years (this car will last 20) then it’s under $200/month excluding gas/insurance. Depreciation is minimal as these cars keep their value
I bought a brand new Subaru the year I retired 25,000 paid cash 10 years ago 35 thousand miles
Your Corolla will be even less than 100/ mo over 10-15 years. Is worth it. These cars last forever. Congrats.
@@Kevin-fn1rn I’m with you. We prefer new cars, and then drive them for ever! I am a frugal car enthusiast. Bought a new 2008 Acura TL. Model year close out, paid $28,000 cash and JUST sold it for $5000. So $23k for 16 years.. loved every minute of driving it. Replaced it with a new Subaru, also paid $28,000 cash. I expect to drive it another 16 years…. Deep regret for every used car I bought prior to the Acura.. always something wrong.. and I’m not handy.. the key is no car loans! Always saving for the next one…. I budget $200/mo towards a new car every 10 years, and then happily squeeze out as many bonus years as I can after the 10 year mark.
@@robinbatts8498 yeah exactly. Cars are just an expense that you can’t recoup from and have to deal with. Might as well have peace of mind you are sole and first owner. If you are making sure car MSRP wasn’t more than 25% of your income yearly at time of purchase, it’s completely fine
@@robinbatts8498or you can get a loan for the extra dealer perks, but do not tell the dealer, and pay it off in few months. I am getting free lifetime engine warranty. Can't beat that. I will pay off this new Camry hybrid in 6 months or so.
I have never and will never buy a new car, not when it loses money as soon as you drive it away! If you do that, it's either stupidity or ego, or perhaps a combination. I drive a 12 year old car with less than 70k on the clock. I keep it in tip top mechanical condition, because that's how to make it last. I will drive it until it reaches the end of its useful life.
We purchased a new car in 2008, we still have it. I had some severe health issues that might have turned out badly. I bought my wife a new car and paid cash. I don't regret it. Great gas mileage and my wife has a known reliable car. The 2008 is still great but it's 16 years old.
Brand new Mitsubishi Mirage is about 18,000. Many other new cars for 21-22 thousand, including Toyota s and Nissans.
I have a 9 year old ford focus. Currently at the dealership being repaired as the timing chain broke that I paid €1200 last summer to replace. They are covering the costs thank god. I will keep this car for another 10+ years god willing
i paid $3100 for a 2006 bmw x3 and it had 21,500 miles on it. it only has 38,000 on it now. i will NEVER pay 40-100K for a car forget that. i can and freeze food. buy fruits when they buy 1 get 1 and freeze them. we raise our own protein. we are in south florida but we are moving back to western ny to live off grid and grow more food. easier to prep there
That’s why I love this channel intelligence,common sense, and you shoot straight from the hip. We made all of our decisions based on the future. When you plan and are reasonable you can live a good life come what may. God first then follow what he says about the way you should live. Like proverbs is a great resource the 10 commandments even better. Believe me people what she’s saying is truth. Don’t try to keep up with others live your lane. Even during this rough time for everyone and the pandemic we have Gods peace and we are great full that stuff will not satisfy any one. Thanks Pepper Princess. Brooks ♥️👍🙏🇺🇸🇮🇱🕊️😏
Nice tongue lashing you gave the “think they know it all morons!” I love it! Good advice as always. ❤
I love your no bs attitude! No one wants to struggle to get to the finish line. Rich!
WOW! My 2013 Ford F-150 is $75 only for registration and it’s been that much ever since I owned it.
We pay with cash and save up. I like the warranties. Our last cars lasted 25 years. Our first house cost 40K so it is kinda a mind bonk! End of year markdown move em out Honda/Toyota hopeful!! We paid off our first house early and paid this retirement house 14 years early!
We bought our first home for 26,000 dollars in 1979.
I thought you were going to say a timeshare 😅