dang i came to comment on the car breakdown baby thing being really crazy but now I'm realizing you only got 1k subs. I had this video on my auto play and I had no idea that you where not one of the big finance channels. The production quality was great and you had really sound and clean advice. Keep up the good work and make interesting content and I'm sure your channel will explode!
How I go about it, save up 15K cash, look for a unicorn across the country around 20-25K, negotiate it down around November and December when things are slow downed and ideally their metrics isn't the best. Drive it back or pay an extra 1k for shipping. Not feasible for everyone, but do able. A used 20-25k car currently can get something with 1 owner, no damages, 35-55k mileage, potentially under warranty still by the manufacture. Currently I am looking at a few Teslas that fit this bill, so less maintenance, electricity cheaper than gas typically Nothing older than 5-7 years for me, potentially can still get a 4k tax credit.. making it 11k in cash. Now I dont cross country road trip, I dont drive a lot, I may or may not cancel insurance sometimes. This method works for me, the hard part is the negotiation piece, 10k down is tough to get but 5K is really doable. Ideally 10k to offset the taxes and registration fees. I suggest getting a list of cars in the area that is similar if not cross country.. then be willing to leave by going to someone else and showing they sell for cheaper. Essentially take as much leverage and control as possible. 15K now is better than water dripped 20k for the next 5-7 years for them. I could be wrong but someone could default 8k/20k into their loan, is that a banking issue or a dealer issue? Im not sure. That 15k for them can be used to keep the lights on or invested, its just less risk at the moment.
Most of this is very silly advice. Here are my rules: -never buy a car that is not at least 4 years old -only own one depreciating car (daily) -only buy with cash -buy as many cars that have passed the bottom of the depriciation curve and are now appreciating (tipically 30+ year old enthusiast cars) as you can keep a roof over -do all of your own car maintenance (only spend money on parts and tools) This way you will make loads of money on your cars, not loose it, and have something to enjoy along the way.
dang i came to comment on the car breakdown baby thing being really crazy but now I'm realizing you only got 1k subs. I had this video on my auto play and I had no idea that you where not one of the big finance channels. The production quality was great and you had really sound and clean advice. Keep up the good work and make interesting content and I'm sure your channel will explode!
Dude this made my day. I recorded a video today and really had to fight for it. Comments like these really keep me going 🙏🥹
How I go about it,
save up 15K cash,
look for a unicorn across the country around 20-25K,
negotiate it down around November and December when things are slow downed and ideally their metrics isn't the best.
Drive it back or pay an extra 1k for shipping. Not feasible for everyone, but do able.
A used 20-25k car currently can get something with 1 owner, no damages, 35-55k mileage, potentially under warranty still by the manufacture.
Currently I am looking at a few Teslas that fit this bill, so less maintenance, electricity cheaper than gas typically
Nothing older than 5-7 years for me, potentially can still get a 4k tax credit.. making it 11k in cash.
Now I dont cross country road trip, I dont drive a lot, I may or may not cancel insurance sometimes.
This method works for me, the hard part is the negotiation piece, 10k down is tough to get but 5K is really doable.
Ideally 10k to offset the taxes and registration fees. I suggest getting a list of cars in the area that is similar if not cross country.. then be willing to leave by going to someone else and showing they sell for cheaper.
Essentially take as much leverage and control as possible. 15K now is better than water dripped 20k for the next 5-7 years for them. I could be wrong but someone could default 8k/20k into their loan, is that a banking issue or a dealer issue? Im not sure.
That 15k for them can be used to keep the lights on or invested, its just less risk at the moment.
Whoa. Thanks for the breakdown, that's awesome.
Most of this is very silly advice.
Here are my rules:
-never buy a car that is not at least 4 years old
-only own one depreciating car (daily)
-only buy with cash
-buy as many cars that have passed the bottom of the depriciation curve and are now appreciating (tipically 30+ year old enthusiast cars) as you can keep a roof over
-do all of your own car maintenance (only spend money on parts and tools)
This way you will make loads of money on your cars, not loose it, and have something to enjoy along the way.
Interesting 👊