How Much Can I Spend On A Car?
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- เผยแพร่เมื่อ 25 พ.ย. 2021
- How Much Can I Spend On A Car?
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I feel like they need to update for 2021 how much a used car is. In 2021, you def looking at it costing 10k for what used to cost 5-7k.
You can get one in the 6k range, but it's going to have at least 50k more miles in that price range.
You wish it was 50k, more like 100k.
@@wtk6069 more like 150k miles for 6k.
My guess is Dave will never approve the update, LOL!
You are correct bc I wanted to find something around 6k but ended up paying 10k in cash for a decent used car that didn’t have a huge amount of miles on it
I love how George actually drives an accord. More people need to live what they preach.
He could have a Ferrari parked next to it for all you know 😂
He's lucky it's not a civic from 1986-2001 because that thing would be gone the next morning he wakes up lol.
@@front331
I hear in California you can steal anything worth up to around $1000 without being arrested.
@@thegreatcoward ok George, maybe an Aston Martin then 😉
@@thegreatcoward we love you George lol
I'm sorry but you cannot find a Honda or Toyota for $5K anymore in 2021.
Weirdly, I've been seeing BMWs and other used sports cars for kinda cheap, but they have a lot of issues.
I just went online and found one within 30 miles of my location. I think you need to look harder
@@blackonblack...9244 They usually are you have to calculate the total cost of ownership with luxury vehicles. Maintenance and repairs ain't cheap.
@@djpuplex I know, I do mechanic side work. But yes, you are right the expense it later down the line.
You can just going to have high miles.
I made a deal with myself. Totally debt free and close to being an everyday millionaire. I said when my paid off 2018 Hyundai dies. I will get a 3 year old fully loaded Ram pick-up. I am gonna run this Hyundai into the ground
Told myself when that happens to me, my wife and I are moving to Thailand!
@@matthews8097 Nice.
@@TheNORegretShow
Not close like you are haha
Good luck, enjoy the truck!
Is gas $5 a gallon where you live? Those trucks get 12 maybe 16 mpg? I have a Tahoe 4x4 Z71, it sucks the gas. The lift and bigger tyres do not help any....:-(
@@alinatamashevich3354 Well when I become a millionaire gas prices won't matter lol.
Here's the thing, when you start talking about $5000 and less used cars, you need to be knowledgeable enough to identify potential problems that could turn into huge repair bills. Of course, that could be said of any price range, but the lower end cars are especially susceptible.
Some are junkers and might be able to make it to scrap yard.
True. You need to test drive, including FULL THROTTLE, then have a master mechanic with a modern scan tool go over it with a fine tooth comb.
This is the worst time in history to buy a car. Use the $6k he is getting back from insurance for a new car. It won’t be much of a car but enough to get by for now.
Yes exactly, use all the money from insurance to get the car. Not losing anything.
If you stick with reliable brands this is really the way to go.
Yeah, it was a pain to get one a few month back. And I definitely over paid
I think COMB through Toyota Corollas with a mechanic who puts them on a lift and runs a modern scan tool over them. If BY CHANCE he can drive a manual, that would be very helpful as it eliminates the transmission worry...He could also buy as much Mercury Marquis/Ford Crown Victoria he can find. They are gas hogs, but easy to fix and reliable....
Let's be realistic here. No debt is ideal. But I rather have used car debt than student loan debt.
Word
Why? I’d rather have student debt than car debt
@@Jayjay-311 Because in most cases, the degrees aren't worth it. The ROR is horrid. I'm a college professor in physics and chemistry. The subsidization of student loan debt has been the worse factor in destroying a college education. The economics and math is crystal clear on the matter.
@@ErwinSchrodinger64 what’s ROR?
@@melissajones7655 Rate of Return.
His speech tempo stresses me out haha
I thought it was me.
I want to know where to buy an 8-year-old Honda Civic in 6K as mentioned in the show by George.
You gotta go across town, only in the day time.
Rachel has never driven a $4K or $5K car in her entire life. And as others are saying on the thread, those deals don't really exist currently. Too bad the new couple can't share a car, but Los Angeles doesn't lend itself well to using public transportation. Did a car get in an accident, is that the emergency?
Yes, it's wrecked.
He said insurance is paying $6k
She was bragging in another podcast that she drives a bmw, which is an endless money pit car especially as it ages
@@hgonz14 You think she is going to driving an older BMW....likely trades it in every few years. But yes old BMW are trash as they age.
@@markg999 I think she is driving it brand new but I think she mentioned she paid with cash. Even Dave once told a caller that it was good that the caller bought a bmw cash which if anything a bmw should be a leased vehicle.
She can afford it though
If you have never been in a 1979 trans am banging through the gears with ttops out and mullet blowing in the wind I feel sorry for you. Yes it’s been paid off for a long time
Guys never outgrow toys. The toys just change in form. When guys become adults the Car, RV, speedboat, anything with motors and wheels become the Toys.
Just make sure you have it checked out by a trusted mechanic BEFORE you put the money down. But PAY OFF THAT STUDENT LOAN DEBT.
Spot on! On a lift and Scan tool plugged in!!!
My 2011 Scion (Toyota) TC drives very well and is great on gas.
Great idea, they should look at Scions!!! I would guess they are not as high in demand as most folks don't know they are re-badged Toyotas!
I drive a 2000 Chevy Silverado each time I start it I always pray
2005ish Toyota Corolla. They have a LOT of shopping, sifting and testing to do with a MASTER MECHANIC. If I were to bet, they won't do what they should...
My mother bought a Camry for $4K. She has $3K in repairs and counting. Do not purchase a used vehicle under $10K.
she is still better off than buying a 10k car, Sounds like she saves 3k. How often can you save 3,000 and probably get your money back when she sells it and upgrades. But tbh I would recommend a 7-10k car. They are usually way better for not a crazy amount more.
I have a Honda Civic that is 20 years old. Bought in 2010 for $6-$7k and have never had a problem that cost more than a couple of hundred to fix
She got ripped off on the car and ripped off on the repairs. You need to inspect carefully.
I want a TEZla too Rachel 😂
A lot of cheap used cars are out there. You just need to be patient until you find the right one! Oh and don’t be picky abt it.
I was able to pay off my car in one year (it was great). Helped save a bit of money and now focusing on paying off my student loan. The only loan I have left; one stel closer to being debt free
We were fortunate to get a 2005 Lexus ES 330 from my mom for only 4K and she took pristine care of it. It's luxurious and completely not our style but it's a reliable, well running vehicle and fits our family. We are a one car family and some day want to purchase a pickup truck but for now no car payment is wonderful. We are very thankful for this mindset that was branded on us from Dave that a car is just what Rachel said; to get from point A to B.
That car is a GEM!
The car you drive must allow you to pay off debt and bills, if it doesn't its the one that must go.
Excellent point. If your transportation becomes the burden financially to you, then you need to get rid of it.
I bough a new car (35k) when used to working as a janitor, its really nice to have a quiet comfortable ride, then a few months later I got a Job in IT and pay of my car in one year working for my company and had enough saved for the downpayment of my house.
Make $200k and I still drive my 2012 Santa Fe
A strong running well maintained 160k mile vehicle has proven itself more than something with 50k one month outside warranty that "never had issues"... Low mileage doesn't mean it's better, or going to run longer, but people will pay triple the price for low mileage... People are selling $17k GM trucks for $5k because of a DOD lifter failure that costs $800 in parts to fix, then running the things till the body rots off 300k+ miles. Buying a low mileage auto manufacturers experiment is not always a good idea.
The wife is gonna leave if she’s forced to drive a 6k car. Rachel is so out of touch of how high maintenance women are these days.
I got a person at my door offering serious money for my 2016 Camry. If I would sell it, it would be almost the same as what I paid for it back then (used 2017). But I asked him, if I sell this car, where am I going to get a decently priced replacement? Quietness.....I kept the car.
Trust me wanting a Tesla shows you're not a car person. No need to mention that part.
He isn’t going to buy a $6K car. He’s pretty confident and doesn’t see the student loan as an issue.
As someone with a mechanical background, get something reliable ( 3-6years old < 120k mi) after you factor in opportunity cost , maintenance cost , and getting pulled over because your car is old ... you win from the headaches you avoided . All in all it shouldn't cost more than about $15k
big facts as a software engineer
It feels good to only have to pay for insurance and some repairs here and there.
No Scotty Kilmer references? 😂
Rev up your engines!
He sounds like he is on drugs
Lol I chalked it up to nervousness
lol. i love how these callers keep getting passed the screener.
Rachel got it going on.
awesome to hear Rachel second guess buying a car which is probably like peanuts to her. Her father and mother raised her right
Just buy a cheap car or suv and be done with it.... don't waste money on stupid luxury cars and trucks
Buy a used car with low miles and good maintenance record. Pay it cash or in less than 36 months. If you can comfortably do this, you can buy whatever car you want.
you can't get a civic or a camry for 4-6k
I like Rachel! She's like a really really nice all the time Dave Ramsey. Also, super cool that George drives a 09 Accord. Great car!
Sorry guys hate to be the one that says it but with today's stupid used car prices they might have to spend the $11k to get a another car that's not a money pit some used cars are selling higher than the same thing new its not impossible to find a decent used car for the money its just going to be difficult.
Why not just use the $6K he’s getting back from the insurance settlement. Good lord, does these people have no critical thinking skills? This guy has already decided he’s going to upgrade to a new car, take out a car loan, and move on. The way he brushed off $57K in debt as if it’s $5K tells me this. My wife and I make just over $155K (gross). We have no consumer debt and own both of our vehicles outright. We have the cash to go out and buy a new truck outright. However, when I get that “new car fever” I look at how much we’d have to spend and the fact that it loses value INSTANTLY the second you make the right turn off the dealership lot, I take pause. Our cars are both in very good condition, well kept up, and do what we need them to do.
But inflation isn’t real at Ramsey’s Solutions.
Or get a Lincoln town car super cheap for a low mileage one and cheap to fix and super reliable
that’s what i drive. super great for work!
The best feature you can get on a car is paid off in full title in hand. No one cares what you drive. Get a vehicle you and your family need for what you need it for. Love my lifted 15 Colorado. I could afford a brand new one with cash but I would rather have the cash in investments.
Rachel & George are a good team.
Georgie, you’re starting to grow on me. You are very wise beyond your years and I love how you put your own personal perspective into this scenario. I drive a 2015 Acura RDX with scratches and with over 120k miles, I can afford to buy a new Tesla in cash but I chose to continue to pile up cash and invest. Plus, you’re married, who are you trying to impress 🤣 me too
The folks are living in a alternate universe. A 4-5k car is not going to be very reliable. You then run the risk of being late or not making it to work on a regular basis, it can really snowball.
2009 Corolla gang (with body damage). Who's with me lol??
my 09 Corolla is going strong
@@shonteljordan9855 let's goo!
In Europe buy older Mercs or Volvos. They go forever.
When she mentioned Honda Civic first :) (2:14). Note my profile pic lol
A car is a tool. It’s like a computer that lives outside. Overpaying for it is a huge mistake that a lot of people in their 20s and 30s make. Drive what gets the job done until you can upgrade and drive what you want. 💎
Less than you were thinking lol
How much do you make and how much cash do you have?
They never said how much they make...
Does she really think you can get a reliable car for a couple thousand?
Short answer: how much can you borrow. Dave answer: How much cash you got?
Prices of used cars today haha.They must not have a idea .
If I was the only person in the world I'd have a 97 McLaren F1 😂😂😂
Can the caller finish a sentence?
Was she actually saying tezzluh, or do I need to cut back on my Ramseyism and pay more for better bandwidth?
Rachel, get a Tesla! Its not just a car, its a iphone on wheels!
Lame
George is cool
BMW is not the status symbol of choice.
I think Lexus has taken over that role
@@alinatamashevich3354 at least lexus is reliable. They aren't much more than any other car used though.
@@666dynomax Yes, a high line Toyota.
But the nicer the car the nicer the ride. 🤓
Carmax just approved me for $22,500 and I really want this 2017 Impala 2LZ. With $1k down 16%apr. For 72 months but I don't want to commit to that $560 car payment. Ugh.
Don't do it!!!!
72 months? Jesus no. Don't do that.
16% is aweful
16% 🏃
If you don't have the money, you can't afford it. Don't borrow for it.
I told myself I’ll buy myself a Jeep once I buy myself a home. First thing I’ll do is put it in the mud 😂
Then call the tow truck!
@@alinatamashevich3354 I’m not going that deep in mud 😂
@@ManningMentality You will need one when the engine and or transmission go out.
@@alinatamashevich3354 um okay
Rachel is bae 😍
100%
Good video, bad advise. Caller said they were high earners with only student loan debt. If I were the caller, I would put the insurance cash in my emergency fund and lease (yes I said lease) the cheapest model new car I could find. That way they would have reliable transportation to get to work and could focus on their careers as opposed to what they are driving. They need to make money to knock off that student loan debt and begin saving and investing for their future. A $6k junk car only has the potential to derail their financial prospects for very little if any savings.
You mean "car fleece" Avis and Enterprise have those deals!
@@alinatamashevich3354 That's funny. I'm not a fan of leasing in general and don't lease myself, but I do think there are times when it makes sense. One being when you are young, looking to gain solid footing and need reliable transportation to do so.
@@slmunney7760 Sorry to inform you but leasing is THE most expensive way to drive a car. Why not just buy an off lease car and be done, put all that extra money towards investments.
@@alinatamashevich3354 I don't disagree generally, but leasing isn't the problem as much as trading up for a new car every few years (which serial leasees do). I'm not advocating that anyone should lease their entire life. The problem with this couple buying a used car straight out is that they risk ending up with a non-reliable car and are going to deplete a good portion of their emergency fund. If I were them, I would keep the cash, lease or finance the cheapest new car I could find and focus on my career and knocking out the student loans. I agree that they should pay cash for cars going forward once they have more savings and are on more stable ground.
Rebuilt title all the way baby. 30% less than actual price
Better be repaired 100% correct otherwise you got a accident waiting to happen.
“Be honest who else is a few hours late” 😂
Base model Ford maverick 23000 out the door
I doubt it. Likely all sold out at and above MSRP right now. There is a lot of pent up demand for small trucks.
No way, no supply and too many fan boys lined up to pay stupid money. Get in line and pony up.
@@alinatamashevich3354 yeah I drive a 2010 Lincoln town car best cars ever made only issue is they are thirsty only get like 25mpg highway 19 city
@@TheMechanicj Safe and no one will steal it, win/win!
Chances of finding a reliable $6000 daily driver are slim and none.
She is way off trying to guess any prices here
Babbling about marriage and bridges
Come on! Please!
Take back Dave please not these..
Rachel so hot I'd go into debt to get her that Tesla 😍
😁👌👍🖖✌😎
Get a Tesla
No
Yes
Or no
If you can't buy a Tesla with cash, then you can't afford it.
@@RantRantJoe she can afford one