I'm 25 and Bought a $52,000 Car Because I Drive A Lot!
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- Опубліковано 19 кві 2021
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He is lucky to have discovered himself financially at 25, not made too many mistakes.
I'm 17
@@chinmaygaming3827 ok
True, home ownership and mortgage is the next chapter.
@@chinmaygaming3827 so?
@@charliedallachie3539 That’s my next chapter :)
I bought a Rolls Royce because anything less would be uncivilized
How else would you get free mustard?
@@cjlive5182 ¿?
I bought a Rolls Royce because I drive a lot. If you drive a lot, maximize your ability to destroy a car's value.
I hear ya man, sounds reasonable
@@marnarenteria4203 ever heard of Grey Poupon ?
I have a bus pass. I like being chauffeured to my destination. I feel rich hiring someone to drive for me. xD
😆😆😆👍🏽😆👍🏽
The bus fees in my city is free, so i feel super rich
Lovely that you live in a place with buses. Most people do not.
hahahha :D
@@DarkroomMedia007 This poor kid is in a HUGE mess. He needs to get out there delivering pizzas and driving ubers to get rid of this massive amount of debt he is in!!!!
Husband commutes 95 miles a day. Bought a used Honda Civic for 8k. Runs beautifully and saves a ton on gas mileage. There’s always a cheaper and better way.
Yeah, I have a 2011 camry with 116k miles and I plan on driving it into the ground. Its so cheap
Our Camry has 180k miles on it and I plan to run it until it goes tires - up!!
But not for stupid people. . .
@@kojack635 YUP!
@@sagm706 YUP!
"I bought a 94' Celica for 300 Bucks because I am smart and know how to save money". Scotty Kilmer
Scotttttyy 🙌🏼🙌🏼🙌🏼🙌🏼🙌🏼🙌🏼
Rev up your engines!
Love him or hate him, Scotty's right about cars being financially ridiculous. You don't become a millionaire by throwing money into car payments!
Dave and Scotty prove that stupid should be illegal
@@TexansForChrist Your comment proves that stupidity should be illegal.
If he is driving 100+ miles a day, he should have gotten a Toyota Hybrid. Could have gotten it for half the price.
Nah, a tesla
Yeah for 52k he might as well gotten a tesla
He may have been driving a truck because his work demands one.
@@cgasucks no, cause your work can't make you buy a truck. That's why company's have company cars and other work vehicle
@@kevinsmith696 they can't make you buy anything but they could require a vehicle. Similar to Uber.
At age 56, I have reached my goal for retirement, but I cannot stop worrying about money after being fixated on it for so many years. I’m grateful Dave pointed out the psychological issue.
What was your goal. What do you think you need to retire?
Do you regret not saving more or not enjoying life more?
@@kojack635 I look forward to an abundant retirement. The challenges are: actually retiring; and learning to spend.
I have that problem after super saving for 20 years cant spend without massive guilt.
@@curtissharris8914 I also find that when I do buy something, I don’t get much pleasure out of it. I’d rather see the money grow.
Dave said “stupid is not illegal” 😂😂😂
killed me!
😂
I bought a cinema because I like watching movies! 🤣
I would definitely do this if I had enough money
More like he bought 100 shares of netflix because he likes movies
AMC Stonks
😂🤣🤣
AMC 🙌🏼💎🚀🌕 lol
Dave is always better than he deserves. 🙂
That payment is more than my mortgage.
Dave screaming "We spent WHAT on COFFEE???.... ThAtS aLoT oF cOfFeE!!!!!!!!" is the best thing I've heard all day 😂😂😂😂
I want to know now how much they spend on coffee.
It’s crazy to me how a lot of people are comfortable being in debt for a car and they don’t even know their interest rate of the car, the total cost of the car. They are just willing to make that monthly payment.
yes, car sales people are really good at their jobs.
Live life don’t worry about everything else
Short sightedness via not much thinking and education over years and years.
When I talk to a car dealer and I ask for the best price and he come back With what kind of payment can you afford? I just leave.
All this stuff is shown to everyone when they go into the finance office… the amount financed, the interest rate, the amount the loans gonna cost you over the life ( term) of the loan and the payment..most people ignore everything but the payment amount- that’s their problem..all you gotta do to offset a higher rate is pay more each month and get it paid off way sooner.
There’s light at the end of the tunnel.. I’m 21 currently I owed 32k on a 40k truck I’m down to 7k it took me a whole year but it’s worth it I already feel more free!!
Leased a brand new car in my early 20's and I will never have another car payment ever again. If you can't afford to buy your car cash, then you can't afford a car
I used to assume Dave was worth $10-20 million, he’s probably actually worth $100-$200 million, and that’s awesome.
He is but a lot of that is from selling his programs to broke people
He made his real money as an entertainer
@@laneblount9888 Actually most of that is probably his giant real estate networth.
@@laneblount9888 and obviously you don't understand Dave Ramsey. Find something better to do than find a reason to blame others for your jealousy.
@@gravitar365 I mean they aren't wrong. His programs are based on helping people getting out and staying out of debt. That is where most of his income comes from because of the scale.
This is my favorite Ramsey episode to date. Straight forward and simple
For 800+a month, can he live in his car? Forget the house, live in the car!...
I recently bought a corolla 2013 from a dealership for amount of $10k because i just survived a car crash that i was rolled 5x on a highway, its true everything is expensive rn i dont even know how much im going to pay for my er visit and i have a health insurance
Fr
He makes 120k to 150k a year and has 20k in savings. He has no money issues. The calls on this show are FAKE. There not real world problems.
@@bigpete1014 Just because it's not your life doesn't mean it's fake lol. If you want a 'real' story on here then why don't you go call in?
@@dedalliance1 I'm not saying anything controversial. A lot of the calls are scripted. The info is incredibly vague. I make 120 to 150k have 20k in savings should I pay off my 50k car loan? You know NOTHING about the person. I have a real accountant do my finances. Im not going to take crackerjackbox advice from some hack who can't see my statements.
I am 41 and bought a $4000 car because I drive a lot and that's what I can afford to pay cash 🙂
Smart man
Is that car still running
Yes it is :)
Unless he is writing off that payment on his taxes 800 is all kindz of stupid, what part of the brain says "800 payment on a car is ok"? I had a $230 car payment a year ago and I was freaking out
He makes 100k a year apparently. That's about $2000 a week he's making.
Feel that I was trying to rationalize a $2k car payment lol
Depends on the car, a m2 or c43amg is around 50kish
And they worth it
@@gabeprice5648 Still ridiculous
what do u make 10k/yr?
I drive 15k miles a year in a $1000 car . All my payments go to Napa, Carquest and Rock Auto parts.
😆 😂
lol
I have been feeling this, emotion left behind my intellect. I didn't really think about it that way but I am so thankful that I can go to the grocery store and just buy what I need for my family now. My mentality is still stuck on "I can't get that" though. Its kind of sad when I think about it. Its almost like I mistreated myself all those years. I am so thankful for you Dave. I was already headed towards financial freedom but you sped the process up for me tenfold. Thank you sir.
I can relate. The constant knowledge that I can't get A or B is soul-destroying.
I'm 54 and that's almost what I've spent for all the cars I've ever bought.
1st tip to buying a car:get a Toyota, I daily a 2004 camry with 250k miles, still runs like a clock, bought it for 3k when I started my college, graduated in summer of 2020 with $3800 in cc debt, I started making 90k a year couple of months ago but I will be driving it till the wheels fall off.
This guy is going to do a great job. A future millionaire!
The Ramsey Show wow Mr. Ramsey you’re so cool 😎
@The Ramsey Show Everyone knows you're a spammer/scammer. Your account isn't verified.
The Ramsey Show I messaged you Mr. Ramsey, I need your help to get out of debt. I’m 702k in debt
@The Ramsey Show Spam reported.
@@henryanaya8459 This kid is in an ABSOLUTE MESS!!! He needs to be driving ubers and delivering pizzas to get out of the mess he is in!
I feel this. I'm inheriting money and will be using the majority of it to pay off my debt. I'll have a good chunk of change leftover and part of me feels so weird to buy a car with cash even though I will be able to. The emotional part of me that hasn't been gazelle intense paying off my debts is thinking that I should leave that money for a safety met, because I've never had one before. What you forget is that you can rebuild that safety net, but you can't go back and not waste the money you wasted by financing the car.
Thank you for making videos!
Exact situation I’m in
Thank you for the content 💯
Buying a car for commuting should be based on: reliability, cost, maintenance costs, gas mileage. I bought a 2016 Honda Civic and have racked up 162000 miles on it. The amount of maintenance I’ve had is minimal, the gas mileage is great and I feel great knowing I don’t drive a car that depreciated $45k in a few years. Never buy expensive if you know you’re racking up mileage. Makes no sense.
How long ago did you buy the car?
Agree makes no sense to keep buying or leasing new cars. Bought a new 2000 Honda Odyssey when my son is born. Drove it for 17 years. Then bought 2018 Odyssey. Hope to drive it at least until 2030.
I love the energy in the room
Very good conversation, we often think of money situations when we were @ our worst.
Buddy of mine makes over 100k a year when you include his stock growths. He just got a 70k car. That’s his dream and it makes him happy.
Yeah but this guy is 25 not 45.
I'll bet that happiness will be short lived...
I recently bought a corolla 2013 from a dealership for amount of $10k because i just survived a car crash that i was rolled 5x on a highway, its true everything is expensive rn i dont even know how much im going to pay for my er visit and i have a health insurance
Feel better .
Awww happy healing... love the car
Most important question Dave didn't ask: "What kinda car did ya get?!"
KIA
2004 Pontiac Aztec
Chevy Equinox 😂
Ford crownvictoria
if you're not growing you're dying.......beautiful quote.
Family told me I should just get a note because I don't have a car. I told them I was saving for a fixer up cash car, they say I need a "reliable car" (like somehow a note prevents a car from breaking down). Meanwhile none of them have a mutual fund account but have shiny cars...I love being weird.
People who have long commutes need to seriously think about how much of life they squirt away on the road. Anything past 20 minutes makes me agitated.
I drive 104 miles round trip every day to work, I bought a 2010 Corolla for $3,500.
I drove 90 miles a day in 2010. I had a 1993 Taurus SHO.
I did something dumb like that once, except it was 24k and not 52k 😄
Im thinking to get a 10k second hand bmw but im doubting of taking a loan for it
@@ciscosan5932 don’t
Me too except mine was 15k
Same lol
Me too lol 35k
"I'd be freaking out" 😂😂🤣🤣🤣 1:48
"I'll come to California and box your ears." Lol.
Dam! His car payment is almost the same as my rent
My mortgage! Dudes driving a house around.
I feel like most parents are like this guys, they let them make stupid financial mistakes with years of repercussions. My parents would make sure that I knew exactly what I would be going through if I told them I was thinking about buying a $52k car. They would let me make the decision on my own, but they would make sure I knew how bad of a decision it would be if I chose to buy it.
120k in CA is like making 20k everywhere else.
It’s not that bad but yea. You don’t keep 120. More like 80k
@@midlifecrisis7888 With my $50K home, $20K is good
Yeah. Someone in a more normal state making $120k a year could afford that car but not in California
Funny...My childhood home is worth 900k...original price 120k...
Depend on where in California.
100 miles a week is kinda far for a big city in CA, but in some parts of the country people drive 100 miles just to go grocery shopping.
Florida it be like 20 miles to go to Walmart 😂 and those 20 miles are like 10 minutes
I do 100 miles in 2 1/2 days...
Where I live everything is 45onutes from everything else.
I used to drive 100 miles RT for work when I lived in Baltimore. I worked in the Gaithersburg/Rockville area. This was when gas prices were $4/gal.
100 miles a week is a lot? I drive 37 miles BOTH WAYS EVERY DAY to work 😂
We have a client that is a deca-Millionaire. He drives a pickup and has a 20 yr old Tahoe. He told me cars were a waste of money.
Do you live in Omaha, by chance? XD
Cars are a waste of money! Whether that car costs $1k or $100k, they both do the same thing: Take you from point A to point B.
Why would you choose to have a more expensive method of travel when you can do it cheaply? Save up, buy cash👍
Mr. Ramsey knocs financial sense into everyone!!!
I had this same excuse but I bought an old Toyota Camry for 5k. If it wasn't for Dave in my conscious, I would been in deep debt right now.
I just sold my 2003 Camry for 7k and bought a truck for 50k lol but I make 175k. A year and paid it off
@@imakebank6524 dang man with that kinda money you deserve to splurge and still did the right thing. Nice
@@JustAName-it5qp thanks I wonder what dave would aay
@@imakebank6524 he would definitely dig into your debt to income ratio. As for me, I never bother asking him haha
I drive 120 miles round trip per day and I bought a 2014 Accord (new and paid off in cash) and I paid about $30k for it then in 2014.
We leased a luxury car 4yrs ago, monthly payment was 800, plus insurance and gas, we were paying around 1200 a month for it… We were making 190k at the time. The more ridiculous thing was we purchased a rental property in the same month as we leased the car… Do I regret the decision? Car, yes. Rental property, No.
In the Philippines my pastor gets $120 a month. His retirement will be $60 a month. His wife gets $210 a month as a school teacher with a degree. My girlfriend would get $85 a month at a entry level job. I sometimes earn more in a hour than they can in a month, and I am a blue collar worker. We got it sooo good in the USA. Let's share with those who have less.
It's good to be generous but dont set yourself on fire to warm the world
You make money but everything also costs more. If you made the same amount of money but the U.S had Philippine prices then your point would make sense.
Capitalism is free for all. I will never feel for those who don't endorse or adopt it. There are no innocent victims when it comes to economic circumstances
I drive 110 miles a day round trip and bought a 97’ Honda Civic for $3000 with 285k miles still running strong.
I bought a Tesla because I need to go the grocery store.
😂😂😂😂
😂😂
I bought a F450 because I need to go to Costco.
@@dedalliance1 🤣🤣🤣
I bought a U haul truck because i need to store my extra junk somewhere.
Used car prices are insane today. It almost doesn't make sense to buy a used car that's 2-3 years old.
I recently bought a corolla 2013 from a dealership for amount of $10k because i just survived a car crash that i was rolled 5x on a highway, its true everything is expensive rn i dont even know how much im going to pay for my er visit and i have a health insurance
@@unfairsanic5089 sorry to hear that. I hope the best for you!!!!
😆
not really, I bought a 2019 car in 2020 with 15k miles on it for 8k pretty good deal
@@ammar3094 Which car model? 🤔
“You need to get on a beans and rice diet now, and have no fun until you pay off this car”😂😅
I inherited a large amount of money, however, I still scramble for the dime on the ground , but I pause at the penny
..."And you explained it to them in a good way why you needed this one too...driving 100 miles a week means I'm going to destroy the value FASTER!!!" LOL
"Stupid's not illegal" 😂🤣😂
He understood the assignment 😏👏🏾👏🏾👏🏾
Even after all these years Dave's "emotions have mot caught up". It's not because they still need to "catch up", its because he still has insecurities/traumas/whatever to do with that time. Even the smallest thing can affect a child or any adult. You can shift these things. But its not jsut by waiting. Do your "inner work". Even basic common therapy isnt necessarily going to help, cause thye dont do a lot to actually relieve these trauma reaponsed in the body. Anything that activates the fight/flight/flee response is a traumatic experience. It doesn't have to be a dramatic wxtreme scenario.
Love Dr. John
For guidance--
W,,H,,A,,T,,S,,A,,P,,P +,1,8,0,5,3,9,9,2,7,1,6
He needs to go see Mr. Hyundai 🤣
I hope if youre reading this you have a great day! Been on my grind with youtube and excited for the future for myself and everyone in this comment section
Dave being sarcastic at 2:10 lol
$120k a year? $800 a month is nothing!
Had to make some major repairs for my car to pass inspection in April 2021. The bill was about $1600. Other than having to move some money around, I paid cash for it. I could never imagine doing that before listening to Dave Ramsey.
Congrats
At the airport, when greeting Jack ... never say "Hi Jack"
Ba dum tss....Are you happy now?
5:08 🤣🤣🤣 just listen and look at the reactions
I bought Toyota for 5k cash I drive a lot and it's third year still running my car still has value of 5k on KBB
Scotty Kilmer checking in.
Corolla? Or Prius
@@princessdiana2737 2010 Matrix
Howd u buy it so low, howd u convince them
I recently bought a corolla 2013 from a dealership for amount of $10k because i just survived a car crash that i was rolled 5x on a highway, its true everything is expensive rn i dont even know how much im going to pay for my er visit and i have a health insurance
Bought a brand new 2018 Honda I paid it off I don’t regret it, I drive everyday
Who buys a Brand New Honda?
@@ClaxtonBay123 probably someone who wants a nearly worry-free vehicle.
Personally for the price of a brand new Honda I would’ve bought an old civic and old Camry best of both worlds
@@ClaxtonBay123 me lol all my friends switching cars every other year meanwhile I’m still driving my Honda only 28K miles baby
I recently bought a corolla 2013 from a dealership for amount of $10k because i just survived a car crash that i was rolled 5x on a highway, its true everything is expensive rn i dont even know how much im going to pay for my er visit and i have a health insurance
"THAT'S A LOT OF COFFFEEEEE!!" 😂😂😂
I bought a 55k sedan after its lease return for 24k.
I drive a 100 mile round trip in a $3800 Honda Civic. This guy is trying to justify a $50 thousand dollar car for this commute? 😂
Maybe if it was a telsa so he could play some games on his way to and from work 😂
I bought a $22 G new sportscar when I was 24, but that was in 1986 … that’s equal to 55G today … yup … the learning is when someone teaches you WHY it’s dumb, and u figure out which emotions drove the decision … good on Jack for learning … back in the day, 22G was almost equal to my annual salary
I am ill and working hard but only earn under 30k and I am working on 59000 dollars in debt. Can barely work as is. rent, bills etc are killing me. I doubt your great advice would help me. But i still love your advice and your show.
I bought 1.000.000$ cake because I eat a lot.
@The Ramsey Show no
It took me so long in my life to figure out what I was good at to make an okay wage. I went through twenty years of being poor. Finally my wife and I are saving some money for retirement.
There are so many good new and used cars he could have bought for the 20k he had in cash.
Listening to this while driving. Thanks Ken, I think I’m gonna put the phone down and reflect a little
I understand that when you’re a young bachelor you want to drive a nice car. He’s way ahead of his game. Good for him. I’m sure he will be just fine
Great idea - buy an expensive car and rack up high miles which will depreciate the car faster and increase the nominal loss. Sounds smart. Granted - dude is doing the right thing now though. Good for him.
Nice work ✨🎇🎆
Dude I love it!!!
You buy throw away cars when all you do is drive.
I agree there’s no point wearing out a nice car, but I think it’s more important to be safe. Up-to-date car with hefty insurance and UMBI in case you get injured by a loser.
I bought a helicopter because a girl told me I looked "fly"
This show has prevented me from making many bad financial decisions they giving free game
Is true!! ... Am having the same feeling about make shops with cash or debit card!! ...and is "What??"... the fear is still there in the brain! ... the emotion man, is strong; and am in the step 2!! i can imagine when i be in the step 4 o 5!
I can’t spend my safety stash either. $1000 is too lean for this girl. All the other steps I’m following.
It’s insanity to buy $52K car at age 25. Spend $10K on a used Honda and Toyota, and invest the rest.
And worry about maintenance 😂
Live and learn. Hopefully this show helps more people not have to live it to learn it haha. I did the same thing 6 years ago when I was 22. Got my “big boy” job and then bought a brand new truck. Good thing some dude high on pills rear ended me and totaled me out and got me out of that truck payment and I learned my lesson and bought a 2008 Toyota that runs great and is paid off.
U got lucky also, you would not be so happy with your decision if the tranny and radiator went bad in your 150k mile 15 yr old car after 4 months and your bill was $2990. Your gamble has paid off, alot don't. Also u could be a single person who drives 5 miles to work. Would u buy that old car if you had to drive 70 miles round trip and have to take your young children around in the rust bucket. Problem with these Ramsey people and I agree 90 percent with them, their car advice is not 1 size fits all like they make it seem. A new car with peace of mind is worth 1000s to me, others maybe not
Unless you “need” a luxury car for your job in regards of status the best type of daily drive is a used manual car.
I daily drive a 2010 Ford Fusion for 9k with 43k miles.
Just paid a $12k tax bill and wrote a check. It was a good feeling paying cash. Just not who it went to. Thanks Dave (12 years in)
@The Ramsey Show u ok there dave?
@The Ramsey Show Can you link me something new?
@@dedalliance1 hey now, I was here first, he's going to link me something new
@The Ramsey Show I don't know how to message you can you help me?
@The Ramsey Show oh. Your number didn't work maybe it's broken?
He could have spent half that amount and gotten a brand new Toyota Camry that could have easily made that 100 mile round trip 5,000 times over.
Camry Hybrid. Super nice, 50mpg, and hybrids hold their value better.
I don't think he mentioned what car he got . I am curious
"Stupid is not illegal" lol
This guy is a Beast
Driving a lot is all the more reason to buy a cheap, reliable car with low cost of ownership.
Yup exactly. Driving a lot means buying a $10k car and not a $50k car.
I'm 29, make six figures, and I have two cars. One is a 1997 Toyota 4Runner, and I bought myself a Kia Forte for $17k as my commuter. Lol
Lucky you
It’s funny I have noticed this. I drive through all types of neighborhoods and the one thing I’ve noticed between upper middle class and lower middle class is the cars. Most upper middle class have a big nice house and a car that’s maybe 5-10 years old. Lower middle class the house is way smaller and maybe needs to be remodeled but they have brand new cars. Interesting.
I'm 41, most I've spent on a car purchase is $2500. But I live comfortably in a nice house and 244 acres of land in a separate state. Why would I purchase a depreciating asset? I've been driving my Silverado from high school all these years, and a cheap car to work everyday. Going from point A to B the same as all the others with $800 month payments.
So true about car prices going up. I remember in the 90s and early 2000s when you could get a brand new Honda Accord for 13k to 15k. Honda Accord can run you 35k and up now for a new one which is insane. 30k for freaking Honda Accord is insane.
Ummm, do yourself a favor and Google "Inflation" Thank you.
Yea that was 21+ years ago believe it or not
Got my 2016 accord for 23k otd after 60k miles and almost 6!years I can sell it for 20k