Now these are the youtube channels I need! Was literally thinking “man I love cars, but I also love personal finance.” Seems you’re that channel. A sub from me.
About 11%-12% of American make more than this. This is why you shouldn't consider buying a new vehicle until you're a net worth millionaire AND you have the cash to buy it outright. You can find reliable cars anywhere for $5,000. Car payments and student loans keep the middle class from becoming the upper class.
This just blew it up for me. I realize some of the costs like maintenance are over exaggerated , but there's no way I'm getting hosed that bad just to own a stupid car. Looking at it like this makes you realize why the average American can't afford a $1,000 emergency and has to rely on credit cards with 23% interest rates. I will stick to my 2010 Toyota Matrix that is paid off. Even if i made $91K/year and could "comfortably afford" this car, I would still want my money earning more money for me. They should make you watch videos like this at the dealership before you are allowed to sign. The banks, insurance companies, dealerships and the IRS can all kiss my a$$.
This is about spot on for how much I pay a month including gas and insurance. Only place it’s different is I’m making double payments, and I make 60k a year. All about wants vs needs, balancing that, and then making it work. I don’t have many wants, I like cars that’s about it.
@@shiftautomotive854 most definitely. If your finances are in order, no unnecessary debt, and you spend less than you make, then I’d say go for it. It’s a stretch buying it as a fun car but I think you could buy it as a daily for sure.
@@garagemonkey526 yea I got no other debt it will be the only one. I pay rent which is 2800 a month I usually put up 2k every month. I’m just scared of getting a car payment lol Right now I drive a 04 Camry over 200k miles 5speed manual. How’s the insurance on the GRC?
@@shiftautomotive854 not good. I had 2 cars both over 20 years old and it only costs $150 a month for premium on both. Now I’ve dropped both and pay $270 a month for the grc premium. I’m 21 with a clean record and it sucks lol. Maybe it’ll be better when it’s paid off.
I feel like I have to add that this is $96k per year after taxes. I make $96k per year before taxes and I would love to own a GRC. BUT financially it's a really tough decision to make.
I thoroughly disagree with this lol, the biggest issue is the insurance rate. Im a 24 year old male, and progressive would be less than a third for me, let alone someone like a 34 year old female. There's also the maintenance costs. Most people aren't going to be saving a specific amount for anything that might go wrong, so for the whole six years, you're probably looking at more like 100 dollars per year because its mostly just going to be oil changes since toyotas are renouned for their reliability. All in all, this video is good for people who really aren't making any type of good money, but it definitely leaves a lot to be desired because most people arent in the average, also dont min-max your life, thats how you grow to hate living.
thankks for humbling my dreams bc that's crazy
Now these are the youtube channels I need! Was literally thinking “man I love cars, but I also love personal finance.” Seems you’re that channel.
A sub from me.
Got 0% Apr and am paying $210 a month for my GRC. I’m loving it!
How the hell did you manage that Rate on a GR?! Dealer Special or something? That's Wild. I'm guessing only up to 60 months?
@@NismoFinder active duty military program at a local bank that gives 0% auto and personal loans.
@@BlackWater6937makes sense great purchase! I believe this vehicle will be a classic in 20-30 years
@@BlackWater6937Can I ask what bank? I’m active duty and have not heard of any incentives from any institutions.
@@TheRenegade. guys i am active duty also, could someone tell me how to get that?
Very well broken down video. Thank you!
Glad it was helpful! Thank you!
LMFAO. So technically almost no one can buy a car. Imagine if you did a house.
If you have a decent vehicle, hold what you got…
About 11%-12% of American make more than this. This is why you shouldn't consider buying a new vehicle until you're a net worth millionaire AND you have the cash to buy it outright. You can find reliable cars anywhere for $5,000. Car payments and student loans keep the middle class from becoming the upper class.
$300 a month for car insurance on a Toyota Corolla that's like brand new Mercedes BMW insurance prices
I love cent.
It's just makes sense
This just blew it up for me. I realize some of the costs like maintenance are over exaggerated , but there's no way I'm getting hosed that bad just to own a stupid car. Looking at it like this makes you realize why the average American can't afford a $1,000 emergency and has to rely on credit cards with 23% interest rates. I will stick to my 2010 Toyota Matrix that is paid off. Even if i made $91K/year and could "comfortably afford" this car, I would still want my money earning more money for me. They should make you watch videos like this at the dealership before you are allowed to sign. The banks, insurance companies, dealerships and the IRS can all kiss my a$$.
This is about spot on for how much I pay a month including gas and insurance. Only place it’s different is I’m making double payments, and I make 60k a year. All about wants vs needs, balancing that, and then making it work. I don’t have many wants, I like cars that’s about it.
you think someone making 120k a year can afford this car?
@@shiftautomotive854 most definitely. If your finances are in order, no unnecessary debt, and you spend less than you make, then I’d say go for it. It’s a stretch buying it as a fun car but I think you could buy it as a daily for sure.
@@garagemonkey526 yea I got no other debt it will be the only one. I pay rent which is 2800 a month I usually put up 2k every month. I’m just scared of getting a car payment lol Right now I drive a 04 Camry over 200k miles 5speed manual. How’s the insurance on the GRC?
@@shiftautomotive854 not good. I had 2 cars both over 20 years old and it only costs $150 a month for premium on both. Now I’ve dropped both and pay $270 a month for the grc premium. I’m 21 with a clean record and it sucks lol. Maybe it’ll be better when it’s paid off.
I got the aqua mica color Corolla Hatchback SE and someone mistook it for a GR Corolla. I’ll take it as a compliment. 😅
I feel like I have to add that this is $96k per year after taxes. I make $96k per year before taxes and I would love to own a GRC. BUT financially it's a really tough decision to make.
It’s crazy that 72 months financing is the new norm…
Way I see it is if a car can't last 72 months it's not worth it.
Welp, looks like I’ll be driving my 2013 Corolla until the wheels fall off 😅
Love the videos ❤
That's crazy, I still be making financially irresponsible decisions LOL
Vary informative thanks can we get a 2025 video?
Do an older car. I been looking at Focus RS's. Very curious on what that would look like.
those got for 40k also. at least all the ones i found
Ok, Maie says dollars, but Maie says cent.., why?
It don’t make cents
Great breakdown. This is why car obsessed people are always broke. Its worth less every single day after you buy it. Invest instead
Can’t even afford mortgage payments and here a GR Corolla…
👍
Integra type s next pls 🙏 great videos btw
than why do i see so many tesla on the road. you mean to tell me tesla are more cheaper
I thoroughly disagree with this lol, the biggest issue is the insurance rate. Im a 24 year old male, and progressive would be less than a third for me, let alone someone like a 34 year old female. There's also the maintenance costs. Most people aren't going to be saving a specific amount for anything that might go wrong, so for the whole six years, you're probably looking at more like 100 dollars per year because its mostly just going to be oil changes since toyotas are renouned for their reliability. All in all, this video is good for people who really aren't making any type of good money, but it definitely leaves a lot to be desired because most people arent in the average, also dont min-max your life, thats how you grow to hate living.
Cents. Not cent.