Why It Hurts More Than Ever to Own a Car
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- Опубліковано 8 вер 2024
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If it seems like your car is costing you almost as much as one of your children, you’re right. Find out what’s causing steep auto price increases and how you can budget for any unexpected costs.
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My husband leased a car for 3 years, yah I know you aren’t supposed to do that. He decided to buy the car for cash at the end of the lease then sold it for much more than he bought it for. Mercedes with very low mileage and in excellent condition . We then decided to go down to one car as I am retired- he works 5 minutes from home so if I need the car during the week , I just drop and pick him up. It worked for us doing it this way 😊
Very smart.
We had the same experience. Leased a car then bought it at the end of the lease and sold it for a huge profit, 10K. It was during the car shortage period.
Glad to hear your husband's workplace is just 5 minutes from home. Not many people has that advantage
@@ranggaajibaskara1809 That’s why we chose our house, he didn’t want a big commute
I paid off my car payment last year. I got sick and tired of having a car payment it was not fun.
I love the language especially when you said there is hope!
It’s very responsible of a Ramsey personality to acknowledge that cost of living has increased. It’s still up to each person to properly manage our finances even in these tough times. God is still great!
We've been a one car family for a bit, but with 3 kids 3 and under and my husband getting a new job 40 min away from us, we knew we had to get a 2nd car. After a few days of searching, I was able to find a 1995 Ford Aspire for sale @ $2700 with only 83,000 miles, we talked the seller down to $2500! Afterwards, got the car registered, new tires , emissions test and oil change, tomorrow we will replace the windshield and our grand total will be $3600 total (including the $2500 to pay the car initially) that we have paid out of pocket. This car is by no means flashy, on trend or a status symbol. It doesn't even have working A/C ! But can I tell you how big my husband and I smile at each other when we see this car in the driveway! Just because we know it's not dragging us down and we can continue to focus on Baby #2 as we take care of our last big debt! I can definitely tell you, if you are thinking about getting a car, don't go for looks, go for practicality and not breaking the bank! It has been one of the best pieces of advice we learned from Ramsey!
Maybe you can save a lot of money by having only one kid rather than three. Wear those condoms to get richer. 😅😂😊
Good on you!
I wish I lived in a place where I could just walk or take public transportation everywhere and just occasionally use an Uber or rent a car when needed because even if you don’t finance one, cars are a money pit between the gas, insurance, and maintenance. Unfortunately, I have to have one to get anywhere where I live.
I moved to be in easy access to transit it is a game changer. Even if you change locations in your area to be able to take transit to work it helps a lot
You’d wind up paying for it via higher rent/housing cost compared to areas that are car dependent
Move to NYC to use the subway.
@@thetruths9945 Lol, have you used the subway lately?
Be grateful you can have a car not everybody can do that sometimes for medical reasons or other reasons and they still have to pay for transportation one way or another
This is why I buy something that's 5 years old it's much cheaper
I think you missed the mark by a mile when it comes to why there are fewer and fewer automotive technicians/mechanics. It's a tough trade to be in since it's often largely working on 100% commission and a 3rd party (service writer or shop owner) controls the sales. Technicians own the vast majority of their tools and equipment, and this is equivalent to pilots paying for their training or engineers paying for their degrees without the back-end compensation. Working conditions vary from excellent to awful (frequently heavily weighted toward the latter), and the pay structure doesn't always encourage a healthy attitude towards work or customer service. The truly talented often quickly move on into careers working on higher value equipment in industrial automation, aviation, or construction/mining. Most, after burning out, jump ship and pursue a career in the trades still, but become welders, HVAC techs, electricians, pipe fitters or plumbers. All trades that generally pay better, far fewer health risks, lower equipment costs, and frequently have career paths to engineering, sales, and business owner/leadership roles.
It's the worst of the trades, at least now. Not worth it, i'm a huge car guy and have several friends in the industry, every one of them is miserable.
Agree, it is a very hazardous job for your health. You are constantly exposed to many toxic chemicals.
Used car prices are back to normal? Where? They're cheaper than new ones now but ways from normal.
Auto claims in my state are through the roof and have been for the last three years. I don't know how people in their 20s are paying for car insurance these days. I'm in my early 40s but these prices make me feel like I'm in my 80s.
Trades are a great place to make good money without an expensive education. However, auto repair mechanic (unless very specialized or work for yourself) is not a trade that pays as well despite the shortage, high costs, and record profits for repair shop owners. For example, my son looked at how much the average mechanic makes after 3 years... $35,000 in our area and how much a home every night semi driver makes after 3 years... $70,000.
There is a really good car payment plan you handsome cash the handle title and keys problem solved
20-21?? Try 20-23 😂 I don't know if used car prices are still down to normal yet.
Cars are much less of a necessity with the modern personal electric vehicles. Scooters bikes unicycles and such.
For some people that's true
I feel like the advice to sell your car and then get a loan to cover the difference is unrealistic in the real world. Nobody in their right mind is going to buy a car private party if the seller doesn't have the title in hand at the time of sale.
Some states actually issue a title to the owner, even with a lien, but the title will be clearly marked as such if that's the case. Look up "Title Holding vs Non-Title Holding States." But you're right, regardless of how your state handles a title with a lien, it's a major impediment to selling a car if the buyer has to wait days/weeks after the sale to register the car in their own name.