@@ProphetTaeTae144K Just because you become a millionaire, doesn't mean your losing your soul. What if you donate a lot of money whilst continuing to excel in your Christian life. Being rich isn't losing your soul. I'm interested in your opinion please let's keep this conversation going..
@@YafetZ what does it benefit a man to gain the whole world and lose his soul. The word losing his soul refers to going to hell for all eternity money is the root of all evil you cannot serve two masters you would hate one and love the other one. People are so caught up into this world but it doesn't even matter what will it benefit you to have millions of dollars living in sin died and go to hell for all eternity nothing this world means absolutely nothing
@@ProphetTaeTae144K So youre telling me that every millionaire is living in sin? I cant be a doctor and be a christian without losing my soul and going to hell? Buddy...
If you can't pay cash you can't afford it in the first place. Getting an auto loan over the next 60 months is gonna cost you way more than just buying it cash stop telling people that taking a LOAN with interest is the financially responsible thing to do. That's why people can't get ahead, they sign up for so many monthly bills instead of stacking their cash.
He said it matters in certain things and the only reason he brought it cash cause he was investing in a house , he’s a millionaire bro he knows what he talking bout
Why would you use cash gonna depreciate every year if you want to trade it in for something new when u get tired of it if y but it cash you waisted ur money only car you should buy cash if your gonna keep it for life
@@wavveyyvibez1675 a millionaire off rap is not the same as someone that made a million of makeing good financial choices, he got it from music, not business investments and shit...next ull be telling me diamond chains are a good choice for becoming a millionaire
@@stephonthompson3575 I’m sure when he bought the G wagon he thought he was gonna keep it forever right? We human things change and just like him in his situation he can afford it , just cause he bought a car HE CAN AFFORD TO MAINTAIN AND EVERYTHINHG with cash does not mean it was a bad investment as well as he wrote it off on his taxes as well since his job is UA-cam and anything he buys and films becomes a asset trust me it’s way more to it he technically lost out cause it depreciated but he wrote it off on taxes made countless videos on it which prob was quad of what he lost
I don’t see anyone touching up on this, but another thing is to never buy a new car lol. Leasing is tricky because all the money you’ve been paying is essentially paying for a car lol.
Okay this is a ridiculous point. If you can afford it, indulge in a new car. When people give advice like yours, it’s essentially going beyond being financially intelligent, you’re basically being excessively prudent. You only get ONE life, spoil yourself sometimes. Saving just to save after a point just becomes pointless. Money essentially is to spend, don’t get carried away over saving on shit. It’s stupid. Now if you can’t afford a new vehicle, yeah of course, sacrifice and buy used till you can. A vehicle is a depreciating asset money wise, but the excitement of a new car and the experiences you’re gonna get with it more than makes up for it because life is for living and money is for SPENDING. It isn’t doing you no favors accumulating infinitely if you’re never spending it. If everyone was prudent, money would lose its value. Someone has to buy that new car or they’d stop making it.
@ How so? That paper or those numbers in your bank account isn’t worth shit if the dollar lost its value. It doesn’t mean shit if folks aren’t spending it. What are you really saving? If manufacturers stopped making cars though, guess what? Its value would skyrocket. Saving excessively is pointless.
⚠️ BAD ADVICE! Don't waste your credit on stuff that won't make you money in the long run.. I'd only leverage my credit on things like *real estate, business assets, etc.*
@@revv913 He literally told you a story about how he bought a car for $150K then sold it for $70k and finished it off with saying he should've bought it on credit like that would've changed the L he took. Yea sounds like sound advice to me 🤦🏽♂️
When it comes to buying cars w/ cash vs. financing/leasing, it really does depend on the situation. For example, is this a purchase you're planning to keep or hold on to for life? Do you plan using it for a couple of years and then possibly reselling it, etc?
Credit was made for people to live without their means... if you can’t afford it you don’t need it... now if you have the bread for it but want to use credit that’s different
I can actually have the cash for something and still find a way to finance it. Lol that’s just me. I just don’t like to spend so much money at one time when I can just break it down into monthly payments. I just pay towards it with my income from paychecks. That way I’m leveraging my money , as well as building credit.
@Charles Lewis that’s the trick bro you stuck with it😂 you can sell it but you’ll still owe the loan company the difference (because the value of your car is always way less than what you bought it for) so you’d still owe. Or you can default on the loan and give the car back to the dealership but that’ll mess your credit up. I’d say just finish paying for it and never make that mistake again. I’m in the same boat
Y’all tripping, he specifically said sometime he don’t even want it no more, but the car already depreciated in value so u lose money either way, some rich people do care about credit score. Let him live the life he chooses, simple. There’s a reason why he up there and some of guys are not!
Buying the newest g wagon is pretty stupid Mercedes doesn’t really update the aesthetics of the g wagon so most people think older g wagons are 2020 I had a 2002 g wagon and I changed the bumper and headlights and everyone thought it was brand new. Moral of the story don’t buy new cars.
If he was smart he would put the Gwagon on TURO for rent he would fetch easily 250$ / day upwards of 7500 a MONTH and in1 year he would reCOUP then he could of SOLD it to dealership. Because gwagons UPHOLD value be got ripped of due to his age and because he’s so rich he probably didn’t really mind..
I think is boils down to personal preference. I would never buy a luxury brand new car but I'll buy a Camry brand new because it pays for itself. Financing depends on financial situation. But I get what he saying, it helps to free up cash.
With good credit, you can get an auto loan at a low interest rate and invest the difference for better returns on your money. You're essentially losing 4-5% on your money if you don't finance. Average S&P 500 ETF returns are 7% on your money. Good credit can get you an auto loan at 3.5% interest. If you invest the difference, you make 3.5% on your money. And you still have that money on hand. The catch is it's only smart if you actually invest. Most of y'all running around with Gucci and Louis on at the bus stop might as well go ahead and pay cash for what you can afford.
@SpankBuda..I don’t feel you have to buy a car to build credit, but everyone’s philosophy is different..I’d rather save money from interest and build credit on something that doesn’t require me to pay too much more on the back end, but that’s just me
@SpankBuda...and the depreciation of the vehicle from you buying vs leasing is something to add to..if you want to sell, and takes years for you to pay off the vehicle vs having to option to sell when you want buying outright I feel you would save a lot of money
To each is own on this topic depends how your money comming in some people rather be good if shit hits the fan and you can’t afford to pay the loans you owe. Some people got so much investments they able to let they investment pay their loans off but buying things full out cash if playing it safer, if you your income drop whatever you own is yours and nobody gonna repo or evict you.
If you have the cash to buy something like a car or house why would you finance it? You can never be 100% certain on what your financial situation will be in the future ( example: Covid-19 unemployment/layoffs). If it’s paid for you won’t be stressing yourself out trying to make those monthly payments to avoid repossession or foreclosure which your credit score/leverage won’t help.
What’s stupid is they goin keep flopping the strategy around til it fools ya. One point of time buying a car cash was worth it. Now yu realize them parts are made with 💩 and wallah a new car.
Dropping knowledge 💪 Not having stuff got a lot of us like that but financially it makes sense to leverage your credit. Most people can get G wagons and don't even realize it because they don't want to pay a note on a vehicle that 5 years down the line they no longer want. Why not make the funds you do have work for you and use your credit to cop a car you gone trade in after a few years then rinse and repeat as you acquire more currency
@Jr Garcia The reason nobody can explain it is because everybody's situation is different. But rule of thumb for most is spend responsibly and pay your bill on time and keep your utilization low. after that you'll get a few bumps to your credit score assuming nothing else is bringing your credit down. Then you'll get limit increases and then comes the offers for higher tier cards with rewards etc. Basically you want to show you have a good track record with borrowing money that's all you have to do. If you can show you have years, even months of being responsible doors open the only thing to do next is have money If you have a decent credit score and a decent down payment you can have whatever you want. It's about trustworthiness and your ability to pay back
if your broke it’s way better to buy cars cash unless you wanna pay that high ass interest rate that stays making you pay more then you should for a car while your car devalues
When you buy a car on credit at $100,000, it loses about 20% of its value, which means you have to pay back $100,000 (or more with interest) a car that is only worth 75-80k. It’s stupid
NEVER buy personal stuff on credit boy. If you gonna buy something on credit it better be making back the cash or more than you originally paid otherwise its no profit
He's correct. Depends, if ur buying a home u dont want a new car on ur credit. Can fuck u over. Credit is the leverage depending on the situation and cash is the leverage depending on the situation. A lot of ppl dont know when one is better than the other
It mainly depends on the car. The smart thing would be if you’re purchasing an expensive car, lease it or get a loan and have people pay to rent it and they effectively will take care of the interest rate if you have enough people lined up for it. Just like rich people do with their houses. They rent it out and those payments cover the mortgage plus some extra in your pocket
Exactly buying a brand new car one of the worst financial investments u can do, buy a slightly used car , ur still getting value out of it but once you but it straight out the lot brand new money goes down
What’s the point in buying a liability cash that’ll depreciate 20% every year, you just run up your expense sheet with insurance, car taxes and fuel then you’ll sell it for a quarter of the price in a few years when you get tired of it...
Buying things cash you get it cheaper. Credit keeps you a slave. Credit should be the last resort. The only time i would use credit is if i don't have the cash to fund my business.
Bruh I get the rich way of rentin it but y’all don’t gotta think to big you can buy 5-10 5k cars & rent your 1 or 2 expensive cars just don’t be dumb buy em all cash💯🖤
Cars are depreciating assets. It's better to lease and save your money. That way you don't bite the bullet and have to sell a car that has greatly depreciated from the asking price.
To each is own but buying a $100k car in cash would be ‘stupid’ if you don’t plan on keeping it until forever. However, if you keep it and use credit, depending on your plan, you’ll end up paying $120k because of interest on an initial cost $100k, all the while the car is depreciating. So to avoid an interest rate, you pay cash up front then you can’t stack your money back faster at once on the back end and you keep the car forever. The real topic should’ve been “buying expensive foreign cars is stupid’. Can you imagine the car maintenance cost and the depreciation on them.
Rich people want to have new cars every couple years so buying a new car in cash is retarded because it’s going to depreciate so much. Leasing is the way to go with expensive new cars. You’re just paying towards the depreciation and then you can get the new model every 2-3 years when your lease is up. A lot of rich people have multiple cars so leasing makes way more sense. Plus you can register them under your business and write them off on your taxes.
@@Mr_Originality cuz ur spending money and the money ain’t do nothing for u the payments build ur credit to have hypothetical bands for what u need or an emergency
I’ve owned over 100 cars about 25 have been leased. And I always want to finance. Because I live in America here you’re credit score is alway better than you’re paper cash. I’m order of value in America: Precious Metals (Gold, Silver, Platinum, Copper) Credit Score Class A/B CDL Real-estate Medical License (DR, Nurse, etc, etc) College Degree
Who said cars are depreciating assets when you could buy a car and sell it for more or even break the car up and sell the parts it’s a known fact parts are worth more than the car itself but then again it depends on the market your going for It all depends on how much you get the car for dont get finessed by the dealership 😂
If you really don’t give a fuck about the situation and you just want a car a lot of people will just pay cash because they want to be over and done with it
@@yrnx9334 u,.. u know u usually ppl pay 3x what the car is worth when they finance it cuz of the slow payments and interest right and u can trade in the car if u pay cash or credit.
If you need a vendor for bank logs with email access ccs accounts all the sites and way more I finally found one that didn’t run off with my money every time we did business I have got what I paid for only on telegram @doejon5
Doesn't matter if it's cash or credit it's coming from your bank account it's stupid either way🤷🏽♂️you should think about passive income it's a shame all that money going to waste. you could've turned those couple millions to a 100 in months then you can have fun
It’s all on the situation but almost 100% of that time that car is loosing value and paying an interest on top is stupid lol over all buying brand new cars is harsh just buy a one owner 10 year old something you thought was dope as a kid you’ll be just as happy not stressing payments
DIS JUST CAME TO MY PHN I CAME TO WRITE DIS IL COM 6AC LATER TO LISTEN. I UNDERSTAND CREDIT AND ALL 6UT IF SOMETHING GOES WRONG AND U CANT PAY DEN AT DA END OF DA DAY ITS STILL GON. FOLKS DONT THINK 6OT DAT PART. IM NOT RICH 6UT I HAV TEN CARS AND 6UYIN MY HSE. OF COURSE I GOT A MORTGAGE 6UT ONE THINK I CAN SAY I CASH OUT ON DEM CARS AND TRUCCS
Buy used. Around 100k miles. Youl pay less than half of what you would new . As long as it was maintenances well/decent make itll essentially look & perform new.
Buying material things all cash is a security move for the poor. If you own it outright, no creditor can manipulate you when you fall behind or take the item from you. History speaks as to why older black people root for buying things all cash...very understandable. HOWEVER, once you start making more than the average median salary for a family in the USA things change. Income forecasting, tax planning, debt planning, investment planning becomes the name of the game. AND LONG STORY SHORT, you don't spend large amounts of liquid cash assets on expensive material shit. Cash equals liquidity; cash is your lifeblood that allows you to make moves. Moves like using cash as a base to make leveraged, strategic investments with debt. And that, kids, is why buying non-income producing, expensive material shit with cash is stupid 😁
Horrible thinking. No we will not. Don't plan on someday making it because you most likely won't. Focus on doing the right things and living your life to the fullest with what u have. Don't worry about what u dont
Credit IS VERY important, HOWEVER, cars and jewelry will depreciate whether you finance it or not! Full cash payments allow you to obtain the item cheaper being that you eliminate the finance charges. I don't understand how that would be stupid if you can afford to pay cash.
These fools in the comments thinking bout shit that dont even touch the 100k mark. The 25k civics and shit dont apply. Were talking about expensive cars that you can look into the future and tell theyll depreciate in value by atleast 50% by time 50% of ur lease is done so u can trade in or whatever u want to do with it.
Obviously it’s a trade-off if you buy things in cash you have no bills but you gotta be prepared for that big chunk to be gone...but getting into financing a bunch of shit is a horrible idea rapper or not
Only buy it on credit if you already have it cash. But financing a depreciating asset without having the equal amount of cash is a fools errand.
Exactly. These rappers are getting cars for aesthetics. So they should be renting or leasing
I pray who ever reads this to become a millionaire
Amen
Why? What does it benefit a man to gain the whole world and lose his soul this world does not matter
@@ProphetTaeTae144K Just because you become a millionaire, doesn't mean your losing your soul. What if you donate a lot of money whilst continuing to excel in your Christian life. Being rich isn't losing your soul. I'm interested in your opinion please let's keep this conversation going..
@@YafetZ what does it benefit a man to gain the whole world and lose his soul.
The word losing his soul refers to going to hell for all eternity money is the root of all evil you cannot serve two masters you would hate one and love the other one. People are so caught up into this world but it doesn't even matter what will it benefit you to have millions of dollars living in sin died and go to hell for all eternity nothing this world means absolutely nothing
@@ProphetTaeTae144K So youre telling me that every millionaire is living in sin? I cant be a doctor and be a christian without losing my soul and going to hell? Buddy...
* Dave Ramsey has entered the chat *
🤣🤣🤣
Only like 12 people will get this
@@18aplateindoors I hear his show in the radio he has 200000+ ways on why you should use credit lmao
💀💀💀
😂😂😂
A lot of y’all never listened to Dave Ramsey or any kind of financial adivice podcast and it shows.
DDG talk Facts on Financial Advice 💯
Listen up free game 💯🐐
Everything DDG does is legal so of course buying a car in cash is stupid. There's nothing wrong with that.
is this better than smokepurp's freestyle? ua-cam.com/video/Fx945qctdSY/v-deo.html&lc=UgxwopXlaZ11kjJ3Tr14AaABAg
If you can't pay cash you can't afford it in the first place. Getting an auto loan over the next 60 months is gonna cost you way more than just buying it cash stop telling people that taking a LOAN with interest is the financially responsible thing to do. That's why people can't get ahead, they sign up for so many monthly bills instead of stacking their cash.
Thanks for spitting the truth out here
He said it matters in certain things and the only reason he brought it cash cause he was investing in a house , he’s a millionaire bro he knows what he talking bout
Why would you use cash gonna depreciate every year if you want to trade it in for something new when u get tired of it if y but it cash you waisted ur money only car you should buy cash if your gonna keep it for life
@@wavveyyvibez1675 a millionaire off rap is not the same as someone that made a million of makeing good financial choices, he got it from music, not business investments and shit...next ull be telling me diamond chains are a good choice for becoming a millionaire
@@stephonthompson3575 I’m sure when he bought the G wagon he thought he was gonna keep it forever right? We human things change and just like him in his situation he can afford it , just cause he bought a car HE CAN AFFORD TO MAINTAIN AND EVERYTHINHG with cash does not mean it was a bad investment as well as he wrote it off on his taxes as well since his job is UA-cam and anything he buys and films becomes a asset trust me it’s way more to it he technically lost out cause it depreciated but he wrote it off on taxes made countless videos on it which prob was quad of what he lost
DDG squad !!!!!!!! 🔥🔥🔥🔥🔥🔥💪🏽
Finna go ahead get a note on this track hawk
This nigga from my city he inspire me 💯
Omi Inna hellcat entered the chat
I don’t see anyone touching up on this, but another thing is to never buy a new car lol. Leasing is tricky because all the money you’ve been paying is essentially paying for a car lol.
Okay this is a ridiculous point. If you can afford it, indulge in a new car. When people give advice like yours, it’s essentially going beyond being financially intelligent, you’re basically being excessively prudent. You only get ONE life, spoil yourself sometimes. Saving just to save after a point just becomes pointless. Money essentially is to spend, don’t get carried away over saving on shit. It’s stupid. Now if you can’t afford a new vehicle, yeah of course, sacrifice and buy used till you can. A vehicle is a depreciating asset money wise, but the excitement of a new car and the experiences you’re gonna get with it more than makes up for it because life is for living and money is for SPENDING. It isn’t doing you no favors accumulating infinitely if you’re never spending it. If everyone was prudent, money would lose its value. Someone has to buy that new car or they’d stop making it.
is this better than smokepurp's freestyle? ua-cam.com/video/Fx945qctdSY/v-deo.html&lc=UgxwopXlaZ11kjJ3Tr14AaABAg
@@Loud.Thoughts poor excuse to spend money
@@Loud.Thoughts you’re entitled to an opinion, thanks for sharing king or queen.
@ How so? That paper or those numbers in your bank account isn’t worth shit if the dollar lost its value. It doesn’t mean shit if folks aren’t spending it. What are you really saving? If manufacturers stopped making cars though, guess what? Its value would skyrocket. Saving excessively is pointless.
All im a say is “im on my Dave Ramsay”. Buy a car AFTER its mostly depreciated.
Valedictorian DDG 🙌🏾
⚠️ BAD ADVICE! Don't waste your credit on stuff that won't make you money in the long run.. I'd only leverage my credit on things like *real estate, business assets, etc.*
That’s YOU so don’t say bad advice
Opinion
@@revv913 He literally told you a story about how he bought a car for $150K then sold it for $70k and finished it off with saying he should've bought it on credit like that would've changed the L he took. Yea sounds like sound advice to me 🤦🏽♂️
@@nathanharvey6496 Isn't all advice someone's opinion?
Tomy Boboy - Credit & Personal Finance you don’t have enough money to speak on this situation 😂😂
When it comes to buying cars w/ cash vs. financing/leasing, it really does depend on the situation. For example, is this a purchase you're planning to keep or hold on to for life? Do you plan using it for a couple of years and then possibly reselling it, etc?
Chris Hogan enter the chat too. Cash is King.....
Say cheese first 😭‼️
Credit was made for people to live without their means... if you can’t afford it you don’t need it... now if you have the bread for it but want to use credit that’s different
is this better than smokepurp's freestyle? ua-cam.com/video/Fx945qctdSY/v-deo.html&lc=UgxwopXlaZ11kjJ3Tr14AaABAg
Exactly
Tell em again‼️‼️
I can actually have the cash for something and still find a way to finance it. Lol that’s just me. I just don’t like to spend so much money at one time when I can just break it down into monthly payments. I just pay towards it with my income from paychecks. That way I’m leveraging my money , as well as building credit.
Sum bout having a Bill follow me around all the time don’t sit right with me. I would rather just buy it after most of the depreciation.
He answered that fr cause that’s a frfr response
Say cheese interview HD MA$$ from Toronto plz
Credit is there for you to always be in debt... always have to owe
One is not better than the other. You need both just depends on your personal situation and finances.
Needa just post the full interview no edits either
He's speaking the truth I don't lease cars cash money over here.......
@Westside Buddy that's jealousy or animosity...aw that's what's stopping u becoming successful too much jealousy
@SpankBuda nice try next?
Period ‼️
I’m never financing a car again. If you can’t buy it cash then you can’t afford it.
U crashed it?
@@demiansworld487 nah where’d you get that from
@Charles Lewis do you owe more on the loan than the car is worth?
@Charles Lewis that’s the trick bro you stuck with it😂 you can sell it but you’ll still owe the loan company the difference (because the value of your car is always way less than what you bought it for) so you’d still owe. Or you can default on the loan and give the car back to the dealership but that’ll mess your credit up. I’d say just finish paying for it and never make that mistake again. I’m in the same boat
@@eski_truv me to lol my interest rate 25%
When u finance anything u always pay more because of interest charges.the system is designed to keep u in debt
Yessir‼️‼️
That’s what you establish credit so you can have a better interest rate goofy
@@ukayhemi6385 what bro said ‼️
Ukay Hemi they don’t know the importance of credit
Finally someone is smart enough to say it
Y’all tripping, he specifically said sometime he don’t even want it no more, but the car already depreciated in value so u lose money either way, some rich people do care about credit score. Let him live the life he chooses, simple. There’s a reason why he up there and some of guys are not!
Valedictorian 😂💯
Having debt is stupid,
His g wagon dropped 70k in less than 2 years I hope somebody learns a lesson just From watching this 🤦♂️
Buying the newest g wagon is pretty stupid Mercedes doesn’t really update the aesthetics of the g wagon so most people think older g wagons are 2020 I had a 2002 g wagon and I changed the bumper and headlights and everyone thought it was brand new. Moral of the story don’t buy new cars.
@SkipTastic!!! ! balling on a budget
If he was smart he would put the Gwagon on TURO for rent he would fetch easily 250$ / day upwards of 7500 a MONTH and in1 year he would reCOUP then he could of SOLD it to dealership. Because gwagons UPHOLD value be got ripped of due to his age and because he’s so rich he probably didn’t really mind..
@@asanijahbarriwentgordon1374 is this similar to Airbnb but for more luxurious vehicles?
@@lalamurray3689 basically not luxury any vechicle
investing in a liability (car) that cost more than house and needs maintenance every 10 thousand miles is a joke cash or credit.
I don’t like the feeling of owing shit so that’s why I’ll buy cash. But I understand credit too.
I think is boils down to personal preference. I would never buy a luxury brand new car but I'll buy a Camry brand new because it pays for itself.
Financing depends on financial situation. But I get what he saying, it helps to free up cash.
Fax tho... if u just put down 40-60% then lease it for like a year or two yo credit score gone go up
Play the fucken full interview
With good credit, you can get an auto loan at a low interest rate and invest the difference for better returns on your money. You're essentially losing 4-5% on your money if you don't finance. Average S&P 500 ETF returns are 7% on your money. Good credit can get you an auto loan at 3.5% interest. If you invest the difference, you make 3.5% on your money. And you still have that money on hand. The catch is it's only smart if you actually invest. Most of y'all running around with Gucci and Louis on at the bus stop might as well go ahead and pay cash for what you can afford.
☝🏾this
Expensive cars yea but low end cars no..your paying interest
@SpankBuda..I don’t feel you have to buy a car to build credit, but everyone’s philosophy is different..I’d rather save money from interest and build credit on something that doesn’t require me to pay too much more on the back end, but that’s just me
@SpankBuda...and the depreciation of the vehicle from you buying vs leasing is something to add to..if you want to sell, and takes years for you to pay off the vehicle vs having to option to sell when you want buying outright I feel you would save a lot of money
@@koria492 mmm
There’s no interest of u can pay it off right away and ur credit score also goes up
To each is own on this topic depends how your money comming in some people rather be good if shit hits the fan and you can’t afford to pay the loans you owe. Some people got so much investments they able to let they investment pay their loans off but buying things full out cash if playing it safer, if you your income drop whatever you own is yours and nobody gonna repo or evict you.
Facts!
I don’t wanna owe nobody dats why I’ll buy a car cash
🐐
If you have the cash to buy something like a car or house why would you finance it? You can never be 100% certain on what your financial situation will be in the future ( example: Covid-19 unemployment/layoffs). If it’s paid for you won’t be stressing yourself out trying to make those monthly payments to avoid repossession or foreclosure which your credit score/leverage won’t help.
Everybody don't have good credit so that's why everybody talk about buying cars with cash and do it
What’s stupid is they goin keep flopping the strategy around til it fools ya. One point of time buying a car cash was worth it. Now yu realize them parts are made with 💩 and wallah a new car.
Dropping knowledge 💪 Not having stuff got a lot of us like that but financially it makes sense to leverage your credit. Most people can get G wagons and don't even realize it because they don't want to pay a note on a vehicle that 5 years down the line they no longer want. Why not make the funds you do have work for you and use your credit to cop a car you gone trade in after a few years then rinse and repeat as you acquire more currency
Exactly I’m 17 with my eyes on that hellcat
@@cillyprodd Stack that bread and keep good credit and that Hellcat yours
BIG FACTS
ua-cam.com/video/tU5f_Lwn2Z0/v-deo.html
@Jr Garcia The reason nobody can explain it is because everybody's situation is different. But rule of thumb for most is spend responsibly and pay your bill on time and keep your utilization low. after that you'll get a few bumps to your credit score assuming nothing else is bringing your credit down. Then you'll get limit increases and then comes the offers for higher tier cards with rewards etc. Basically you want to show you have a good track record with borrowing money that's all you have to do. If you can show you have years, even months of being responsible doors open the only thing to do next is have money If you have a decent credit score and a decent down payment you can have whatever you want. It's about trustworthiness and your ability to pay back
Debt lowers your net income..and raises your debt to income ratio
Buying cars cash is Stoopid when u broke
Ur dumb
If you’re broke don’t buy a car even on credit lol
It’s dumb if you’re rich too
if your broke it’s way better to buy cars cash unless you wanna pay that high ass interest rate that stays making you pay more then you should for a car while your car devalues
Buying a car cash is not stupid especially when you broke you will pay more in the long term and never know when you fall on hard times
Next video - DDG gets cars and house repossessed due to market inflation.
Credit is everything
buying cash is better than credit my opinion
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Buying a new car is one of the biggest wastes of money period.Dont matter if its cash or credit
They don’t give us the right credit rate even when our credit good🤷🏽♂️ end up paying for 3cars
When you buy a car on credit at $100,000, it loses about 20% of its value, which means you have to pay back $100,000 (or more with interest) a car that is only worth 75-80k. It’s stupid
NEVER buy personal stuff on credit boy. If you gonna buy something on credit it better be making back the cash or more than you originally paid otherwise its no profit
Most people with a business finance or lease for a tax credit most people buy cash because they don’t initially have credit in the beginning!!!
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It cost less in cash interest if u don’t no how it does work like that
He's correct. Depends, if ur buying a home u dont want a new car on ur credit. Can fuck u over. Credit is the leverage depending on the situation and cash is the leverage depending on the situation. A lot of ppl dont know when one is better than the other
da only time i’m using cash is wit da plug 🤐
Took a hell of a loss on that G Wagon shiiiiiiiiiiiit
To much interest and headache when you paying interest
It mainly depends on the car. The smart thing would be if you’re purchasing an expensive car, lease it or get a loan and have people pay to rent it and they effectively will take care of the interest rate if you have enough people lined up for it. Just like rich people do with their houses. They rent it out and those payments cover the mortgage plus some extra in your pocket
He will get to the next level when he realized buying cars is stupid. Lease them
Exactly buying a brand new car one of the worst financial investments u can do, buy a slightly used car , ur still getting value out of it but once you but it straight out the lot brand new money goes down
If you buy something cash or finance it. You're still going to pay for it. But when you finance it you pay more because you're paying interest.
What’s the point in buying a liability cash that’ll depreciate 20% every year, you just run up your expense sheet with insurance, car taxes and fuel then you’ll sell it for a quarter of the price in a few years when you get tired of it...
Buying things cash you get it cheaper. Credit keeps you a slave. Credit should be the last resort. The only time i would use credit is if i don't have the cash to fund my business.
Bruh I get the rich way of rentin it but y’all don’t gotta think to big you can buy 5-10 5k cars & rent your 1 or 2 expensive cars just don’t be dumb buy em all cash💯🖤
Cars are depreciating assets. It's better to lease and save your money. That way you don't bite the bullet and have to sell a car that has greatly depreciated from the asking price.
@@TavaresTheGuru facts
@@TavaresTheGuru but if you lease they take the car back after the due date is up how are you gonna sell it
@@JWeac_. You don't sell it you trade it in and get another one.
@@TavaresTheGuru ewwww that's terrible NO!!! just finance it cash only if you have it
people like flexing
Lol you use your credit for big shit like starting a business or invest if you can’t buy a car with cash and not worry about it it ain’t for you💎💯
Debt has entered chat 👋🏽
To each is own but buying a $100k car in cash would be ‘stupid’ if you don’t plan on keeping it until forever. However, if you keep it and use credit, depending on your plan, you’ll end up paying $120k because of interest on an initial cost $100k, all the while the car is depreciating. So to avoid an interest rate, you pay cash up front then you can’t stack your money back faster at once on the back end and you keep the car forever. The real topic should’ve been “buying expensive foreign cars is stupid’. Can you imagine the car maintenance cost and the depreciation on them.
Rich people want to have new cars every couple years so buying a new car in cash is retarded because it’s going to depreciate so much. Leasing is the way to go with expensive new cars. You’re just paying towards the depreciation and then you can get the new model every 2-3 years when your lease is up. A lot of rich people have multiple cars so leasing makes way more sense. Plus you can register them under your business and write them off on your taxes.
@@EnduroDreaming facts
If you still using debit cards to make purchases you clearly is left behind 💯 credit is key
Why is that?
@@Mr_Originality cuz ur spending money and the money ain’t do nothing for u the payments build ur credit to have hypothetical bands for what u need or an emergency
@@demiansworld487 ok cool
Omillo Adams yep for emergency purposes only!!!
the only time it’s stupid to buy something cash is when it’s a brand new car
Moral of the story don't buy cars u can't afford
This is Part 7 not 6
I’ve owned over 100 cars about 25 have been leased. And I always want to finance. Because I live in America here you’re credit score is alway better than you’re paper cash.
I’m order of value in America:
Precious Metals (Gold, Silver, Platinum, Copper)
Credit Score
Class A/B CDL
Real-estate
Medical License (DR, Nurse, etc, etc)
College Degree
Who said cars are depreciating assets when you could buy a car and sell it for more or even break the car up and sell the parts it’s a known fact parts are worth more than the car itself but then again it depends on the market your going for It all depends on how much you get the car for dont get finessed by the dealership 😂
You should buy it in cash if you got x10 of money. If not then buying what you need in credit is good.
Eventually youre gonna want a new car so why buy cash when u can finance and trade in
If you really don’t give a fuck about the situation and you just want a car a lot of people will just pay cash because they want to be over and done with it
@@yrnx9334 u,.. u know u usually ppl pay 3x what the car is worth when they finance it cuz of the slow payments and interest right and u can trade in the car if u pay cash or credit.
If you need a vendor for bank logs with email access ccs accounts all the sites and way more I finally found one that didn’t run off with my money every time we did business I have got what I paid for only on telegram @doejon5
@@quincoll6807 😆🤫
Have u every tried witch hazel with rose water for ur face it a good astringent dry up acne
Doesn't matter if it's cash or credit it's coming from your bank account it's stupid either way🤷🏽♂️you should think about passive income it's a shame all that money going to waste. you could've turned those couple millions to a 100 in months then you can have fun
That's why you lease cars.
DDg u the best dummy in the world if don't got it leave it homie
Why buy cash? Because if you finance you will have to pay interest
He high asf lol
Yea true cash is still better than credit at the end of the day .
Not for much longer we moving towards a cashless society
Cash gets you what you want. Credit gets you what you need!
@@yrnx9334 yea meaning paper money will no longer be around. It will be digital instead. Agenda 21 read up on it
@@ivanreese7087 💯
Go look up fiat currency cash isn’t better lol
Using credit tho helps build ur credit
It’s all on the situation but almost 100% of that time that car is loosing value and paying an interest on top is stupid lol over all buying brand new cars is harsh just buy a one owner 10 year old something you thought was dope as a kid you’ll be just as happy not stressing payments
DIS JUST CAME TO MY PHN I CAME TO WRITE DIS IL COM 6AC LATER TO LISTEN. I UNDERSTAND CREDIT AND ALL 6UT IF SOMETHING GOES WRONG AND U CANT PAY DEN AT DA END OF DA DAY ITS STILL GON. FOLKS DONT THINK 6OT DAT PART. IM NOT RICH 6UT I HAV TEN CARS AND 6UYIN MY HSE. OF COURSE I GOT A MORTGAGE 6UT ONE THINK I CAN SAY I CASH OUT ON DEM CARS AND TRUCCS
Buy used. Around 100k miles. Youl pay less than half of what you would new . As long as it was maintenances well/decent make itll essentially look & perform new.
Shit never get a used high end vehicle
@@tnw-dk2311 if it’s not worth the money after just a 100k miles... it’s not worth it in the first place .
Anything car or truck you buy over 50k just lease
Buying material things all cash is a security move for the poor. If you own it outright, no creditor can manipulate you when you fall behind or take the item from you. History speaks as to why older black people root for buying things all cash...very understandable. HOWEVER, once you start making more than the average median salary for a family in the USA things change. Income forecasting, tax planning, debt planning, investment planning becomes the name of the game. AND LONG STORY SHORT, you don't spend large amounts of liquid cash assets on expensive material shit. Cash equals liquidity; cash is your lifeblood that allows you to make moves. Moves like using cash as a base to make leveraged, strategic investments with debt. And that, kids, is why buying non-income producing, expensive material shit with cash is stupid 😁
We all gone make it one day!! Just gotta make the decision first. Don’t worry about the how!
ua-cam.com/video/Ds_DlglUwPI/v-deo.html hbf
Horrible thinking. No we will not. Don't plan on someday making it because you most likely won't. Focus on doing the right things and living your life to the fullest with what u have. Don't worry about what u dont
Credit IS VERY important, HOWEVER, cars and jewelry will depreciate whether you finance it or not! Full cash payments allow you to obtain the item cheaper being that you eliminate the finance charges. I don't understand how that would be stupid if you can afford to pay cash.
These fools in the comments thinking bout shit that dont even touch the 100k mark. The 25k civics and shit dont apply. Were talking about expensive cars that you can look into the future and tell theyll depreciate in value by atleast 50% by time 50% of ur lease is done so u can trade in or whatever u want to do with it.
Obviously it’s a trade-off if you buy things in cash you have no bills but you gotta be prepared for that big chunk to be gone...but getting into financing a bunch of shit is a horrible idea rapper or not
Also if you make payments on everything and don’t buy it outright it’s likely you can’t afford these things anyway