I'm 50 now but 4 years ago I sold my 2006 srt8 300 51,000 Miles . $415 a month great .Then my foolish self traded it in and got a srt charger loaded for $804 a month what a stupid desicion went in debt gas was over $600 a month put me in dept someone stole it was the best thing happen to me .Never again will a make that decision. Good job my guy you are on the right track.
@@Detroitmuscle74 wow 😮 man that’s tough but what an unfortunate fortunate situation! That’s why I kept gap…. I kinda hoped the same thing but I thought man I don’t want to be held at gunpoint and get it stolen so I sold it to a dealer and walked away! Best thing ever
Im glad you were able to get rid of it. Some people are so upside down on the loan that they can't sell or trade it. They end up letting it get repoed. You definitely made the right move.
@@stonecoldsigma yeah the reason I was able to get out of it was that I put $15K down when I bought it. That’s why I tell people down payments aren’t always a bad thing
Glad you woke up bro. We gotta stop living to impress people at stop lights who don’t care anyway. The new-fun feeling wears off in about a week. I’ve driven one car over the last 12 years- a Honda Accord. Nothing beats being note free. Good on you!
This is exactly why I didn't buy a Hellcat and just settled for the RT. It's not as fast as the HC but still a fun car. The good thing about the RT is that they're less expensive, good for daily driving, and you have plenty of room to add performance upgrades. You can turn an RT into a Scat or Hellcat if you're good with a wrench. You live, and you learn. Too bad there are folks upside-down trying to pay for an HC.
Mini cooper is notorious for havung problems. Its basically a less reliable BMW. A cash car should be a toyota, honda, etc. Good on you for trying to get out of car notes. I havent had a car note in almost a decade. Legit changed my financial situation significantly
You made the right decision based on your situation. I have had a scat pack and a Hellcat and currently have a 2018 Demon. They are awesome, but, you have to be able to afford more than just the car itself. I am fortunate because of my situation, age, and location that I'm able to get insurance where I only pay 250 bucks a year for the Demon full coverage (I know, ridiculously cheap), but for most people it's just stupid expensive. And they are thief magnets. Someone already tried to steal mine. When I traded in my Scat Pack, It didn't last a day on the dealer lot before it was boosted. I will say that for all of those out there that are contemplating any one of these cars, keep in mind that you become a target for thieves.
I have had 2 Lexus es350 2013 es350 2019 fsport currently driving. You can get a scat power with the Is500 and it reliable with luxury. The maintenance on them are pretty good. Congrats on making a great decision.
DUMB. 60k cash you can literally invest that 60k and turn it into 100k plus. Or you can be a DUMMY and pay cash on a item that will depreciate. All millionaires finance most larger purchases. That's why there rich and your broke. Ramsey is for Brokies.
@@Drew-P-Bllz Dave Ramsey is a blow hard and only recommends you buy mutual funds. The only good advice he gives is how to get out of debt. Other then that I would skip his dumb investing advice.
Great job. I did the same thing last year. I bought it cash but was tired of stressing over it..sold it after two years and bought a brand new 4runner. Piece of mind.
1000$ payment + 500$ insurance just to have a Hellcat (without paying Gas) is diabolic. At least you realized it now... I live in Germany and my payment will be finished in 5Months for my Scatpack (paying 440€/month). I will never pay for cars monthly again - dumbest shit ever...
Same here, I have a R/T and I have 1 more year to pay it off. I told myself I’m never financing a car again. I’m paying extra to hurry and pay it off because that $500 (remember I said I’m paying extra on my note) a month could go to something more useful or can be saved up
Just a heads up, you’re able to go to the dealer parts department and buy the parts your need then have them installed somewhere else. I used to do this for my m3.
How on Earth does a grown man buy a sports car without checking with his insurance first?? My Lord. I appreciate your honesty as this is a cautionary tale.
@@ztotheu2974 lol I didn’t know u could do that. I thought you had to halfway have the car. I’ve always added the insurance before I drove the car off the lot
@TheRhodyExperience in some states you might not be able, to be fair. Did you look up the costs for new brakes, or tires? Tires are more expensive than ever, even if you're driving a beater. I know oil changes start at $100 for a hellcat. Premium gas. Of course you need tint.. at minimum that's $300-1k. That's all the basic stuff. Now, factor in scraped rims. Rim conditioning is around $100 per wheel. Don't forget about rock chips. I know that glass ain't cheap. Don't forget about paintless dent removal. These are all things not covered by factory warranty. I really appreciate your honesty. I was in your shoes in my late 20s. BMW, the ultimate pit lol.
@@TheRhodyExperienceyeah bro i just copped an RT, i shopped around and got quotes everywhere before i went into the dealer, im 22 with a clean driving record only paying $200 a month for full coverage
I used to have a srt8 that was fully paid off. It was recently totalled by some idiot on the road but I never knew how much it was costing me just on gas and maintenance over the years. Ended up getting a camry for now and I'm still happy with it. The srt was fun tho I'll come back when I'm ready
You can always get another one bro. I just bought a used 2017 challenger scatpack with 19k miles for $27.500. I sold my RT and waited for the right deal and it came along
That's the smartest decision you can make. Putting your money into investments that can make you money over time, vs putting your money into depreciating vehicle's that you pay to maintain and spend huge amounts of insurance on. I wish more people would learn this philosophy early on, so that they won't put themselves into these bad financial positions.
@@TheRhodyExperience Exactly! Now if your TH-cam account was at a point where your making money as a secondary income, helping to pay your payments and insurance, than possibly it would make since.
I did the same brother, bought my scat widebody at 21 custom built, and drove it everyday as a daily for 2 and a half years. I can say I don’t regret it because I enjoyed every 22k miles I put on it, but the opportunity cost wasn’t worth the extra 4 years of 350-400 every month on gas and 930 payment plus 200 insurance. Great decision
Ideally most people get their dream car at around 40 or so, not 21. I didn’t buy a brand new car until I was 35. And it was a 2019 Mustang GT I got for $30,000 even with 4% interest. Today I owe around $4500 on the car. I make over 6 figures and could have easily got a Hellcat but to me even with my income and credit I can’t justify an $800 plus car payment. Plus daily driving that is insane and I’m not buying a second car. How people do $1300 monthly payments with 16% interest is crazy. And people will buy a Hellcat and do Uber Eats in it.
@@noahknight4039 Exactly, not sure how people did 12%+ interest rate, I was at 6.14% but even then I felt like I got robbed and could have waited until now and cash it out but you live and learn and like Rhody said could allocate the money that you were spending on a car to your investment portfolio. Hopefully people view this video and make a decision that’ll benefit them in the future
What are u talking about??? If you reported a change of cars the policy goes up alor down accordingly! Sounds like u leased the car and u said u paid the honda negative equity was paid???
@@DK-sc4gn no lol. I’ve never leased cars but I’ll break it down since u didn’t pay attention in the video I had a 2021 Honda insight. Payoff was $31.5K but they offered me $21.5K for it. Dodge hellcat $62.5K My down payment to the dealer was $20,000 Insurance comment: I had the hellcat for 3 months, then the policy jumped up. There was no sticker shock or anything of that nature before signing the documents. It happened months after lol. Insurance went from $375 a month to $600 a month for my 2 cars and my wife car. And 2 of those cars had less that 275 HP lol.
I made a similar decision, had a 2016 Hellcat Charger for over two years and traded it in October for a brand new 24 Durango RT. Once my extended warranty on the Cat expired I had to pay over $2,000 to have the brake pads and rotors replaced. I knew what I was getting myself into with maintenance costs, but I also thought about how "stupid" it was blowing over 2g's on just pads and rotors when I could have took a vacation anywhere in the world for that price lol As much as I miss the Cat I already thought well into the future when everything will slowly need to get repaired/replaced, and anything maintenance wise would always end up being at least a grand, vs is costing peanuts to maintain a 5.7 Hemi (which mine is under factory warranty but thinking longevity wise). Pads and rotors on the Durango are $300 for the full set for example, compare that to over two grand for the slotted rotors and ceramic pads on Hellcats, and I went aftermarket too. I will get one again in the future though for sure, I feel like I personally made a better and more mature decision for my daily now.
@@Big_Trucks_and_Hemis you def did. My next car will not be a hellcat tho when I can get another because I was always looking over my shoulder in Houston thinking someone would rob me. Plus my wife would drive that car to work and I always worried about her safety. I’m going for a z06 or gt500 next time. Used of course
Yeah, it's crazy now what they are charging people for hellcats!! My OTD was 72k for a 2021 WB Hellcat from the factory. I opt for the 48 Months at 0% interest instead of power dollars. My payment was 1600 and my insurance was about $320 with two other cars. If I got the Redeye instead of the regular WB I probably would have kept it. I sold mine and made a lot of money during COVID-19 to Carvana lol!! I would say they basically brought it at the sticker. I had low mileage though and it was basically brand new. The gas was never a problem for me i had a pretty good gas card from American Express. Yeah if you stay in any area with YN lmfao I would definitely not have one lol!!! Love the video man god bless!!
Bought my 2015 v6 challenger brand new for 27k. After ten years of ownership I’ve learned 90% of people wouldn’t know the difference. The women I date only see a Challenger, not once have I ever been asked what engine I got. A 32mph daily driver and no car note all I need. I stunt in my classic trucks. I never saw what the hellcat hype was about, just a bunch of noise. You made the right choice young dude.
I’m 50 years old A car is a bad investment,it’s how you go at it I have a 2016 Hellcat bought in 2017 brand new sold my 2014 RT 25k use that money plus drop 10k down on the down payment with all the rebates it came up to 65k minus my 35k I finance around 30k my payment was 410 with interest rate 4.5 paid it off in two years I don’t remember how much interest they got but was very little. So you on the right path of wanting to only finance no more than 15k
As a guy who has spent 5k on cars in the last 10 years these numbers are astonishing to me. Putting the money into a Roth IRA makes way more sense... (Edit) If your company has one, I would fund the 401k too. The limit on that is $23,500, and if they match, it's free money ...
@@Bauks that’s what I did :) I have a 401k thru my job and it’s been funded since 2022 Ira through chase with dividend stocks in it Self directed investment account through chase Acorns account being funded Hefty checking and savings account with Chase I have multiple accounts and have always been smart with money. Just wasted some along the journey 🥹
At 32 you're in a good space ,seeing the bigger picture n prioritizing. The money you saved n invested will be making money well after that thing is dead n gone.
@TheRhodyExperience count yourself blessed. I've lived n witnessed amongst friends and family, not just all the sad stories on the news ot Yt n tiktok, how detrimental it can be to not understand the intersection cost and benefit. Live below your means...check your ego ... make that sacrifice in small increments. But, just Google a compound interest calculator and see what 100 invested today could be worth 40 years later. GL to you.
What’s funny is I got a 2024 bmw M 3 series for the same price 60k plus. Same note amount and same insurance amount. I bought a 2010 Lexus es350 as my 2nd car. The ONLY reason why it makes sense for me to do this is because the credit amount revolving on my credit will get me a house loan when I’m finished. If I wasn’t building credit I would never…
I had one car, but I was hell bent on buying a charger so I got one and my folks wanted the first one so I let them take over the payments since it was only 8 more months left on the loan. They stopped paying the note unbeknownst to me then I ended up having to pay both, which wasn't really a issue but after a while I came to the realization that the charger was gonna be another 3 years of money tied up so I just decided to let it go and hopped back in my old car. I'll never let myself nor anyone put me in that situation again.
I went with a Scat, that I was able to put half down on, which I'm only paying 400 a month on. If I went with a hellcat with all the features I'd be paying double if not more, and that's just crazy.
Great decision. I daily my ZL1 & the last 6 years I’ve daily drove 2 charger r/t’s, bmw 550i, v10 bmw m6 & wide body charger SRT. & I’ve never had more car debt than 14k$ at one time or payed more than 300$/month This car shii is not cheap & not for everyone. DO NOT over extend yourself for a car that is not your dream car. It’s not worth it.
"Hellcat buy 1 nowwwww at your own risk " 😅 good video bruh ,u guess why people steal them 🤔 they don't have to pay car nite or insurance 😮just gas ,ingenious
@@irvingp6859 lol no doubt. And to think of people who paid half the car off and the insurance can’t reimburse the amount they actually lost only the value of the car 😭
Did you actually trade the mini cooper. Motor mounts and some bolts is about 150ish and you get a jack , some jack stands, ratchet extension , torque wrench. Can get it done in about 3 hours or less.
@@bawxofchawclets4836 yup I sold it to the dealer to get the car I currently drive. The parts were on back order even from BMW-Mini. I didn’t feel comfortable doing it myself 😭
You’re smart! I’m in the same boat with my car. Bought another car cash and thankfully that mfker been reliable. I do rideshare on the side to offset everything in the second car and put the additinal savings into the market. What I look like paying 80k for all them years? Um no! My car should be paid off within the next 2 years max.
I’m 26 and I purchased my hellcat at 22 turning 23. I can agree with the insurance standpoint but as far as trips I gotta beg to differ. I’ve driven my hellcat 14 hours and only have to fill up 3 maybe 4 times. As long as you’re not heavy footing it you can get almost 350-400 miles out of it.
@ whenever I head up on that trip I use eco mode. Strictly and cruise control. But I’m on the verge of selling also. I hate looking at my odometer. I’ve upgraded and replaced both the motor and transmission so seeing the odometer at 53.3k more than what they have breaks my heart.
purchased my hellcat in October of 2023 for my 22nd birthday and I went and got a little beater car to daily drive. I am currently in a position where my living situation is stable and I can afford the vehicle with all the expenses it comes with and what not but you are 100% right about not being able to drive it as a daily and stuff being expensive and insurance. I have thought sometimes of getting rid of it too but I would also have negative equity and sometimes I just think it’s better to keep the car than to have to go through all that process of getting rid of the car and still owe money on it.
Good choice, i’m 24 and picked mine up back in July for a really good deal and im paying around $900 a month but every time the bill comes it sucks. Really wish I would have continued to save instead of pull the trigger on the car. Going to be getting rid of it soon so i can make smarter choices 😂
Wise decision young fella. Just recent my daughter’s friend who has to updated cars… a hellcat being one, and also a 2025 car. Making payments on both. We have 4 cars in the driveway… all paid off. All purchased from Copart. He made the comment: “y’all and these salvage cars”. Her reply was… “you and them car payments”. I told her… I know that’s right! In other words, keep your money in your pocket fam. If you can’t pay it off within a year then you can’t afford it. The rat race is Dahm near voluntary slavery. Wake up family…WAKE UP!
I understand you bro I have a 2023 widebody scat my biggest mistake was running in the dealership being pressured by the end of the hemi production I paid 88k mark up like a fool I’ve had my car a year and 7 months got it down to 50k I wanna get rid of it as well but I feel like I’m so close to paying it off now my insurance in NYC is 463 it went up from 430 now if it goes up again I may have to get rid of it because that’s crazy I’m also paying 1499 a month for it but I pay more I have a good job making over 90k a year but I’ll give it one more year to see where I’m at
@@Markbabb oh yeah at that point you’ve paid a lot. If I paid $30K plus into mine I probably would’ve just kept it. You can always refinance to lower the note and rate unless they gave you a 3-6% rate which is awesome in today’s time.
@@B58-Premo yeah I will admit I wanted to make content with the car and things were going well but I decided I wanted to buy a house and that $1400 freed up a lot of money for a mortgage 💪🏾
I never wanted a Charger Hellcat. I'd owned a 2006 Chrysler 300 SRT8, a 2012 Chrysler 300 SRT and I WANTED A HELLCAT 300. FCA never gave us a Hellcat 300 but they found it possible to drop the engine in the Charger, Challenger, RAM, Jeep and Durango. I ended up buying a 2016 Charger Hellcat and realized immediately I couldn't daily drive it - especially in inclement weather. I bought a 2015 Jeep SRT and that became my daily. Gas prices rose, insurance prices rose. Come 2021, Stellantis drove up MSRP on new models. These luxury cars are flex toys and they are extremely expensive to maintain fuel and fix. Most of the expensive replacements are excessively expensive. I currently have my Jeep (paid off) and a Cadillac Lyriq EV. Far better car than the played out Hellcat lol.
I've wanted to get a hellcat. But looking at least a $700 dollar monthly payment isn't worth it to me. It's best to just save up your money, and if you need a car, buy it outright.
People…… always buy Honda, and Toyota if you’re buying a beater. Maybe an old Kia spectra. These will outlast any car brand with the less amount of money you have to spend on for them to run.
My goodness! Yall want these vehicles so bad yall will pay 1k🤦🏽♂️. Im glad you made the right financial choice to give it back. I have a 2020 Charger SXT. They said regular payment was about $900. I came in with 703 credit score and 3k down payment. Walked out with monthly payment $598. That was in 2020. I will never pay no more than $650 monthly for any vehicle. Oh, and i love my Charger. Im looking forward to it being a collectibles vehicle😊.
Great choices, i think i'd stop going to dealerships for cars though! keep the car you got, invest the money you have and keep doing that until your 50 or 60 then start looking at cars again, one note, if you want a project to tinker with check out those gov sales, you could throw 3gs at a car you like and fix it up the way you like! Those dodge police awd 5.7 pursuits look pretty sweet plus if you get one for 3gs and throw some money at it, you'll have a mopar vehicle, that you can toy with and have some fun with just saying! Me personal thinking that 25k is the limit for me! LOL on a new car that is! I just think people are crazy spending 50k on vehicle. If you can't cash it out and make it yours it's not worth it! Modder4life! :)
I'm actually glad to see Stellantis has ruined Dodge and ended this nonsense. I was spending $1500 a month on my Charger Hellcat and insurance. MY MORTGAGE isn't that much lol. It's unbelievable the opportunity cost of these luxury cars - and most people didn't realize it till rent/mortgage unaffordability became the norm.
Bro live your best life while you are still young. Don't worry about stocks, bonds, IRAs, etc... Sure put a little away every month but don't obsess over it. You don't want to be old and have regrets. Ask me how I know.
You should have got a hemi and supercharged it for like 7k. It's cheaper to build a hellcat than to buy one. You can buy a conversion kit online. You live and learn though.
I am currently trying to get out my loan now.. people have been voicing the rate these loans are going is diabolical. I'd rather invest into what I can own because doing payments and maintenance not to mention insurance will eat your pockets alive. Hell so many have dived into rebuilding projects and beefing up the security instead. There are more old school rides on the roads with temp tags in my state just to afford some kind of transportation. They can keep those over a $1000 notes
Dang I pay basically the same for my Plaid S, $1k for the note, $500 for insurance, but my insurance thinks I drive over 24k miles per year, which is probably true. $500 for it to just sit in the garage is insane.
Ya man I hear ya, I drive about 140 miles round trip to work. I work construction so I can’t drive it to work between the dusty yard I park in to the commute. Car sits. And then I went snd bought a Z06 both on my channel. Gotta have a beater Honda or Toyota
@ ya my Z06 is a 2016. 6,000 miles. It’s fun. My Camaro is a stick, I’m a teamster so I’m so sick of driving standard the Z06 had to be automatic. I can’t stand driving standard when I’m not working. I saved up for 2 years to buy the hellcat cash. And then I just bought the Z06 one day I took a day off of work and bought it cash too. I got some rental properties and stuff.
Dang that I love my charger I hv 392 scatpack widebody. I live Brooklyn ny. It was good on gas for me. I drove from Brooklyn to Richmond with quarter tank. Its gives 467 miles because it's goes to 4 cylinder over 50 mph. And i don't drive like that because I get on the train. Im 41 I love the car is expensive but get what u like if u can do it.
@TheRhodyExperience wassup man ur right about those payments and insurance its high as heck. But its good to hear what saying about putting ur money in the right places. God bless man peace
Glad u learned a valuable lesson. Cars will get u in debt and broke quick. Get a cheap, reliable ride and drive it to the wheels come off. In the meantime, stack dollars. 👍
You made the logical adult choice with this move.
@@fliptomylou8880 thanks 💪🏾😭
I'm 50 now but 4 years ago I sold my 2006 srt8 300 51,000 Miles . $415 a month great .Then my foolish self traded it in and got a srt charger loaded for $804 a month what a stupid desicion went in debt gas was over $600 a month put me in dept someone stole it was the best thing happen to me .Never again will a make that decision. Good job my guy you are on the right track.
@@Detroitmuscle74 wow 😮 man that’s tough but what an unfortunate fortunate situation! That’s why I kept gap…. I kinda hoped the same thing but I thought man I don’t want to be held at gunpoint and get it stolen so I sold it to a dealer and walked away! Best thing ever
This is why us middle class ppl still struggle after making a good income, due to bad financial decisions. Glad you was able to get rid of that Cat.
@@vintagetimmy1893 I 10000% agree. I’m good on that kind of purchase lol
Cars are just not a good investment a diving extremely depreciating asset
Im glad you were able to get rid of it. Some people are so upside down on the loan that they can't sell or trade it. They end up letting it get repoed. You definitely made the right move.
@@stonecoldsigma yeah the reason I was able to get out of it was that I put $15K down when I bought it. That’s why I tell people down payments aren’t always a bad thing
@@TheRhodyExperienceCould’ve bought one cash at an auction for that price 💯
Very logical and rational insight bruh, gotta respect this 💯
@@imyanigmw thanks 💪🏾
You’re just maturing and making the right moves 💯
@@DrHorsePower thanks 💪🏾
This needs to go viral. It would help so many younger brothers
Wisdom beyond years, I'm 55 years old and I wish I heard this advice 25 years ago. God Bless!
@@oscarlewisjr.8380 God bless 🙏🏾
Glad you woke up bro. We gotta stop living to impress people at stop lights who don’t care anyway. The new-fun feeling wears off in about a week. I’ve driven one car over the last 12 years- a Honda Accord. Nothing beats being note free. Good on you!
Having a hell cat in houston is like owning a lambo in Atlanta
@@Cubanguy1977 lmao dang
@TheRhodyExperience just saying bro i saw a lambo in atlanta traffic i was like why so sad
@ lol Miami is having a field day with lambos
@@TheRhodyExperience man nobody can afford to breathe in miami expansive for no reason down there
This is exactly why I didn't buy a Hellcat and just settled for the RT. It's not as fast as the HC but still a fun car. The good thing about the RT is that they're less expensive, good for daily driving, and you have plenty of room to add performance upgrades. You can turn an RT into a Scat or Hellcat if you're good with a wrench.
You live, and you learn. Too bad there are folks upside-down trying to pay for an HC.
Same and the 5.7 hemi is actually a better more reliable engine from what i seen.
Thanks for sharing this man. Sounds like it was big lesson learning journey.
@@youngroosevelt38 huge lesson
@TheRhodyExperience The problem with learning by experience is the exam comes before the lesson...
Mini cooper is notorious for havung problems. Its basically a less reliable BMW. A cash car should be a toyota, honda, etc. Good on you for trying to get out of car notes. I havent had a car note in almost a decade. Legit changed my financial situation significantly
@@rminitials yup I fell in love with Lexus and would lease one if I ever bought another car
You made the right decision based on your situation. I have had a scat pack and a Hellcat and currently have a 2018 Demon. They are awesome, but, you have to be able to afford more than just the car itself. I am fortunate because of my situation, age, and location that I'm able to get insurance where I only pay 250 bucks a year for the Demon full coverage (I know, ridiculously cheap), but for most people it's just stupid expensive. And they are thief magnets. Someone already tried to steal mine. When I traded in my Scat Pack, It didn't last a day on the dealer lot before it was boosted. I will say that for all of those out there that are contemplating any one of these cars, keep in mind that you become a target for thieves.
I have had 2 Lexus es350 2013 es350 2019 fsport currently driving. You can get a scat power with the Is500 and it reliable with luxury. The maintenance on them are pretty good. Congrats on making a great decision.
Paid off my Scat. Sold it.. Bought a Civic Si and kept the change. Best decision ever.
Thanks for making this video man !!!
I needed to hear this. Thank you.
David Ramsey wrote about this in his book. Only buy what you can afford in cash, forget about financing your vehicles
DUMB. 60k cash you can literally invest that 60k and turn it into 100k plus. Or you can be a DUMMY and pay cash on a item that will depreciate. All millionaires finance most larger purchases. That's why there rich and your broke. Ramsey is for Brokies.
@@Drew-P-Bllz Dave Ramsey is a blow hard and only recommends you buy mutual funds. The only good advice he gives is how to get out of debt. Other then that I would skip his dumb investing advice.
@@Drew-P-Bllz smart
True asf,,every financial advisor will tell you,,if you can't afford to pay cash for it you can't afford it Period!
Great job. I did the same thing last year. I bought it cash but was tired of stressing over it..sold it after two years and bought a brand new 4runner. Piece of mind.
@@philp7884 ayyyy! Cash is king
@@TheRhodyExperience Allways!
Good on you brother! Keep making smart decisions.
@@rickeyb450 thanks 💪🏾
1000$ payment + 500$ insurance just to have a Hellcat (without paying Gas) is diabolic.
At least you realized it now...
I live in Germany and my payment will be finished in 5Months for my Scatpack (paying 440€/month).
I will never pay for cars monthly again - dumbest shit ever...
@@jugobetrugo7213 no doubt! Glad I woke up within 3 months of owning the car vs 4+ years 😭
Same here, I have a R/T and I have 1 more year to pay it off. I told myself I’m never financing a car again. I’m paying extra to hurry and pay it off because that $500 (remember I said I’m paying extra on my note) a month could go to something more useful or can be saved up
awesome video thanks for the realization been wanting to get a hellcat no cap in video makes great since
Just a heads up, you’re able to go to the dealer parts department and buy the parts your need then have them installed somewhere else. I used to do this for my m3.
Respect. I see a grown man making decisions .
@@therealnickd3011 thanks 🙏🏾
Great video bro…you made a great financial decision. No way I would make a crazy monthly payment for a vehicle now your money is working for you.
@@lterry21 thanks and facts! I have a dividend portfolio and regular stock portfolio and I’m making residual income from it
I did the same thing with my C8. Smart decision bro it’s worth it.
As a Yn I appreciate this broady
Tough way to get to some logical, practical and sane money management.
Congratulations!!
Definitely made the right move bro. Good stuff great vid
How on Earth does a grown man buy a sports car without checking with his insurance first?? My Lord. I appreciate your honesty as this is a cautionary tale.
@@ztotheu2974 lol I didn’t know u could do that. I thought you had to halfway have the car. I’ve always added the insurance before I drove the car off the lot
@TheRhodyExperience in some states you might not be able, to be fair.
Did you look up the costs for new brakes, or tires? Tires are more expensive than ever, even if you're driving a beater. I know oil changes start at $100 for a hellcat. Premium gas. Of course you need tint.. at minimum that's $300-1k. That's all the basic stuff.
Now, factor in scraped rims. Rim conditioning is around $100 per wheel. Don't forget about rock chips. I know that glass ain't cheap. Don't forget about paintless dent removal. These are all things not covered by factory warranty. I really appreciate your honesty. I was in your shoes in my late 20s. BMW, the ultimate pit lol.
And after all that, I still want a sports car again
@@ztotheu2974 yep lol I’ve had a lot of fast cars M5, AMG C63 and more. I’ve always been a bonehead when it came to fast cars 😭
@@TheRhodyExperienceyeah bro i just copped an RT, i shopped around and got quotes everywhere before i went into the dealer, im 22 with a clean driving record only paying $200 a month for full coverage
That’s why I got the C8 stingray. Best bang for buck. I’ve gotten 32 mpg on the freeway. And the power is there when you need it.
@@elijahray9792 sheesh I didn’t know you could get that much mpg on a v8 😮
I used to have a srt8 that was fully paid off. It was recently totalled by some idiot on the road but I never knew how much it was costing me just on gas and maintenance over the years. Ended up getting a camry for now and I'm still happy with it. The srt was fun tho I'll come back when I'm ready
You can always get another one bro. I just bought a used 2017 challenger scatpack with 19k miles for $27.500. I sold my RT and waited for the right deal and it came along
@@Horsecalledwar facts! They have them priced to sell now because the 24’ EV cars are here. I saw a used 17’ hellcat with 40K miles for $47K.
Used SP is a perfomance value sweet spot. Used 3.6 is a great overall value.
Keep up the good work brother! The future belongs to those who prepare for today!
@@sheriffquick thanks a lot 💪🏾
That's the smartest decision you can make. Putting your money into investments that can make you money over time, vs putting your money into depreciating vehicle's that you pay to maintain and spend huge amounts of insurance on. I wish more people would learn this philosophy early on, so that they won't put themselves into these bad financial positions.
@@300CME facts! I want to retire by age 60 and stuff like that would hold me back by many years
@@TheRhodyExperience Exactly! Now if your TH-cam account was at a point where your making money as a secondary income, helping to pay your payments and insurance, than possibly it would make since.
@ exactly
I LOVE HOW REAL THIS IS 💯🖤
@@srt392_quay4 thanks 🙏🏾
I did the same brother, bought my scat widebody at 21 custom built, and drove it everyday as a daily for 2 and a half years. I can say I don’t regret it because I enjoyed every 22k miles I put on it, but the opportunity cost wasn’t worth the extra 4 years of 350-400 every month on gas and 930 payment plus 200 insurance. Great decision
@@BrxxklynFinest exactly! 👍🏾 wise choice brotha 💪🏾
Ideally most people get their dream car at around 40 or so, not 21.
I didn’t buy a brand new car until I was 35. And it was a 2019 Mustang GT I got for $30,000 even with 4% interest. Today I owe around $4500 on the car.
I make over 6 figures and could have easily got a Hellcat but to me even with my income and credit I can’t justify an $800 plus car payment. Plus daily driving that is insane and I’m not buying a second car.
How people do $1300 monthly payments with 16% interest is crazy. And people will buy a Hellcat and do Uber Eats in it.
@ I agree with that. I did see someone try to buy a demon and they had done uber in their hellcat. Car had 122K miles lol
@@noahknight4039 Exactly, not sure how people did 12%+ interest rate, I was at 6.14% but even then I felt like I got robbed and could have waited until now and cash it out but you live and learn and like Rhody said could allocate the money that you were spending on a car to your investment portfolio. Hopefully people view this video and make a decision that’ll benefit them in the future
What are u talking about??? If you reported a change of cars the policy goes up alor down accordingly! Sounds like u leased the car and u said u paid the honda negative equity was paid???
@@DK-sc4gn no lol. I’ve never leased cars but I’ll break it down since u didn’t pay attention in the video
I had a 2021 Honda insight. Payoff was $31.5K but they offered me $21.5K for it.
Dodge hellcat $62.5K
My down payment to the dealer was $20,000
Insurance comment: I had the hellcat for 3 months, then the policy jumped up. There was no sticker shock or anything of that nature before signing the documents. It happened months after lol. Insurance went from $375 a month to $600 a month for my 2 cars and my wife car. And 2 of those cars had less that 275 HP lol.
@@DK-sc4gn I’ve always had 3 cars under my policy. I’ve bought so many high end cars (BMW M5, AMG C63 and much more) but the hellcat was different.
I made a similar decision, had a 2016 Hellcat Charger for over two years and traded it in October for a brand new 24 Durango RT. Once my extended warranty on the Cat expired I had to pay over $2,000 to have the brake pads and rotors replaced. I knew what I was getting myself into with maintenance costs, but I also thought about how "stupid" it was blowing over 2g's on just pads and rotors when I could have took a vacation anywhere in the world for that price lol As much as I miss the Cat I already thought well into the future when everything will slowly need to get repaired/replaced, and anything maintenance wise would always end up being at least a grand, vs is costing peanuts to maintain a 5.7 Hemi (which mine is under factory warranty but thinking longevity wise). Pads and rotors on the Durango are $300 for the full set for example, compare that to over two grand for the slotted rotors and ceramic pads on Hellcats, and I went aftermarket too. I will get one again in the future though for sure, I feel like I personally made a better and more mature decision for my daily now.
@@Big_Trucks_and_Hemis you def did. My next car will not be a hellcat tho when I can get another because I was always looking over my shoulder in Houston thinking someone would rob me. Plus my wife would drive that car to work and I always worried about her safety. I’m going for a z06 or gt500 next time. Used of course
Man now I feel like this is a sign I should not trade my wide body scat pack shaker for a hellcat 😅❤ good video
@@EXIXISRAP I will say if you can afford it do it. But if they come back and say you’re upside down $10K…. Nahhh lol chill on that 😭
@ the budget is there. Just your experiences with building a home, thinking about retirement having more money towards your future is relatable.
@ true that. $1400 x 6 years is a lot of money if invested. I can flip that and double it instead of lose it
People need to hear this. Insurance on them is no joke.
Yeah, it's crazy now what they are charging people for hellcats!! My OTD was 72k for a 2021 WB Hellcat from the factory. I opt for the 48 Months at 0% interest instead of power dollars. My payment was 1600 and my insurance was about $320 with two other cars. If I got the Redeye instead of the regular WB I probably would have kept it. I sold mine and made a lot of money during COVID-19 to Carvana lol!! I would say they basically brought it at the sticker. I had low mileage though and it was basically brand new. The gas was never a problem for me i had a pretty good gas card from American Express. Yeah if you stay in any area with YN lmfao I would definitely not have one lol!!! Love the video man god bless!!
Cash is still king. And those 3.6 Pentastars are still cool.
Bought my 2015 v6 challenger brand new for 27k. After ten years of ownership I’ve learned 90% of people wouldn’t know the difference. The women I date only see a Challenger, not once have I ever been asked what engine I got. A 32mph daily driver and no car note all I need. I stunt in my classic trucks. I never saw what the hellcat hype was about, just a bunch of noise. You made the right choice young dude.
@@MrSergio608 no doubt. After a month of ownership it got boring 🥱
I never understood the hype in “classic” cars or trucks just a bunch of old cars🤷♂️ to each their own lol
That was very smart I’m in a messed up contract now with a charger. 😅 I’m happy you’re almost carnote free can’t wait til I am
I’m 50 years old A car is a bad investment,it’s how you go at it I have a 2016 Hellcat bought in 2017 brand new sold my 2014 RT 25k use that money plus drop 10k down on the down payment with all the rebates it came up to 65k minus my 35k I finance around 30k my payment was 410 with interest rate 4.5 paid it off in two years I don’t remember how much interest they got but was very little. So you on the right path of wanting to only finance no more than 15k
As a guy who has spent 5k on cars in the last 10 years these numbers are astonishing to me. Putting the money into a Roth IRA makes way more sense...
(Edit) If your company has one, I would fund the 401k too. The limit on that is $23,500, and if they match, it's free money ...
@@Bauks that’s what I did :)
I have a 401k thru my job and it’s been funded since 2022
Ira through chase with dividend stocks in it
Self directed investment account through chase
Acorns account being funded
Hefty checking and savings account with Chase
I have multiple accounts and have always been smart with money. Just wasted some along the journey 🥹
@@TheRhodyExperience 🙏🙏🙏
U could have just gone with 5.7 but ignorance is a _. Ty for sharing many learning the hard way
Im proud of you, brother
As a Hellcat owner, I get it. You made the smart move if you can’t handle it. Good for you.
At 32 you're in a good space ,seeing the bigger picture n prioritizing. The money you saved n invested will be making money well after that thing is dead n gone.
@@mironkorzalko7761 thanks 💪🏾💪🏾💪🏾
@TheRhodyExperience count yourself blessed. I've lived n witnessed amongst friends and family, not just all the sad stories on the news ot Yt n tiktok, how detrimental it can be to not understand the intersection cost and benefit. Live below your means...check your ego ... make that sacrifice in small increments. But, just Google a compound interest calculator and see what 100 invested today could be worth 40 years later. GL to you.
What’s funny is I got a 2024 bmw M 3 series for the same price 60k plus. Same note amount and same insurance amount. I bought a 2010 Lexus es350 as my 2nd car. The ONLY reason why it makes sense for me to do this is because the credit amount revolving on my credit will get me a house loan when I’m finished. If I wasn’t building credit I would never…
@@OfficalCali nice!!! We are building a luxury home now and it will be complete by spring 2025. I wanted the m3 but at the time it was $70K+ 😞
Wait..he had $9k in negative equity? Paid the car off just to sell it to the dealer? This was trouble from the start.
Yup lol unfortunately
I had one car, but I was hell bent on buying a charger so I got one and my folks wanted the first one so I let them take over the payments since it was only 8 more months left on the loan. They stopped paying the note unbeknownst to me then I ended up having to pay both, which wasn't really a issue but after a while I came to the realization that the charger was gonna be another 3 years of money tied up so I just decided to let it go and hopped back in my old car. I'll never let myself nor anyone put me in that situation again.
I went with a Scat, that I was able to put half down on, which I'm only paying 400 a month on. If I went with a hellcat with all the features I'd be paying double if not more, and that's just crazy.
@@civatateo4222 true that! Smart choice
I bought a Charger SXT because that's what I could afford
Smart choice
Great decision.
I daily my ZL1 & the last 6 years I’ve daily drove 2 charger r/t’s, bmw 550i, v10 bmw m6 & wide body charger SRT.
& I’ve never had more car debt than 14k$ at one time or payed more than 300$/month
This car shii is not cheap & not for everyone.
DO NOT over extend yourself for a car that is not your dream car. It’s not worth it.
@@Srtified_von true that. When I was single I would dump money into them but after marriage the wife opened my eyes 👀
"Hellcat buy 1 nowwwww at your own risk " 😅 good video bruh ,u guess why people steal them 🤔 they don't have to pay car nite or insurance 😮just gas ,ingenious
@@irvingp6859 lol no doubt. And to think of people who paid half the car off and the insurance can’t reimburse the amount they actually lost only the value of the car 😭
smart also a lot of ppl just get g/t and r/ts cheaper and look just like the srts etc
Did you actually trade the mini cooper. Motor mounts and some bolts is about 150ish and you get a jack , some jack stands, ratchet extension , torque wrench. Can get it done in about 3 hours or less.
@@bawxofchawclets4836 yup I sold it to the dealer to get the car I currently drive. The parts were on back order even from BMW-Mini. I didn’t feel comfortable doing it myself 😭
You’re smart! I’m in the same boat with my car. Bought another car cash and thankfully that mfker been reliable. I do rideshare on the side to offset everything in the second car and put the additinal savings into the market. What I look like paying 80k for all them years? Um no! My car should be paid off within the next 2 years max.
I’m 26 and I purchased my hellcat at 22 turning 23. I can agree with the insurance standpoint but as far as trips I gotta beg to differ. I’ve driven my hellcat 14 hours and only have to fill up 3 maybe 4 times. As long as you’re not heavy footing it you can get almost 350-400 miles out of it.
@@ProdxTZA sheeshhh that’s good. I drove my car 2 hours one way and had to fill it up before heading back home.
@ whenever I head up on that trip I use eco mode. Strictly and cruise control. But I’m on the verge of selling also. I hate looking at my odometer. I’ve upgraded and replaced both the motor and transmission so seeing the odometer at 53.3k more than what they have breaks my heart.
@ sheesh replaced all that under 75K miles is wild 😢
purchased my hellcat in October of 2023 for my 22nd birthday and I went and got a little beater car to daily drive. I am currently in a position where my living situation is stable and I can afford the vehicle with all the expenses it comes with and what not but you are 100% right about not being able to drive it as a daily and stuff being expensive and insurance. I have thought sometimes of getting rid of it too but I would also have negative equity and sometimes I just think it’s better to keep the car than to have to go through all that process of getting rid of the car and still owe money on it.
One road trip I got 22mpg #🐈🐈🐈
U might’ve just saved me was thinking bout getting one in the next few months im 24 💯 just gonna invest
Good choice, i’m 24 and picked mine up back in July for a really good deal and im paying around $900 a month but every time the bill comes it sucks. Really wish I would have continued to save instead of pull the trigger on the car. Going to be getting rid of it soon so i can make smarter choices 😂
@ smart but 900 really not that bad for a widebody cat tbh. Some People paying that for scats
Smart, I’m not dealing with anymore car notes after i pay off my challenger. I rather save up the money and pay for it in full.
@ yeah its not terrible for a cat, with insurance its around $1060 a month
Wise decision young fella. Just recent my daughter’s friend who has to updated cars… a hellcat being one, and also a 2025 car. Making payments on both. We have 4 cars in the driveway… all paid off. All purchased from Copart. He made the comment: “y’all and these salvage cars”. Her reply was… “you and them car payments”. I told her… I know that’s right! In other words, keep your money in your pocket fam. If you can’t pay it off within a year then you can’t afford it. The rat race is Dahm near voluntary slavery. Wake up family…WAKE UP!
Excellent choice my brother! I hope by "IRA" you mean "Roth IRA".
I understand you bro I have a 2023 widebody scat my biggest mistake was running in the dealership being pressured by the end of the hemi production I paid 88k mark up like a fool I’ve had my car a year and 7 months got it down to 50k I wanna get rid of it as well but I feel like I’m so close to paying it off now my insurance in NYC is 463 it went up from 430 now if it goes up again I may have to get rid of it because that’s crazy I’m also paying 1499 a month for it but I pay more I have a good job making over 90k a year but I’ll give it one more year to see where I’m at
@@Markbabb oh yeah at that point you’ve paid a lot. If I paid $30K plus into mine I probably would’ve just kept it. You can always refinance to lower the note and rate unless they gave you a 3-6% rate which is awesome in today’s time.
@@TheRhodyExperience yeah I’ll definitely refinance it I’m just being lazy lol credit score is 807 think I should get a better interest rate now
you paid $88k for a scatpack💀. I will put you in my prayers bro🙏🏾
Smart investments, keep it up! Most of these folks getting Hellcat live check to check trying to keep up with these “influencers”.
@@B58-Premo yeah I will admit I wanted to make content with the car and things were going well but I decided I wanted to buy a house and that $1400 freed up a lot of money for a mortgage 💪🏾
I never wanted a Charger Hellcat.
I'd owned a 2006 Chrysler 300 SRT8, a 2012 Chrysler 300 SRT and I WANTED A HELLCAT 300.
FCA never gave us a Hellcat 300 but they found it possible to drop the engine in the Charger, Challenger, RAM, Jeep and Durango.
I ended up buying a 2016 Charger Hellcat and realized immediately I couldn't daily drive it - especially in inclement weather. I bought a 2015 Jeep SRT and that became my daily.
Gas prices rose, insurance prices rose.
Come 2021, Stellantis drove up MSRP on new models.
These luxury cars are flex toys and they are extremely expensive to maintain fuel and fix. Most of the expensive replacements are excessively expensive.
I currently have my Jeep (paid off) and a Cadillac Lyriq EV. Far better car than the played out Hellcat lol.
you made a smart choice. I know it was hard.
Smart guy not only that you can rent them for a day or two i live in California you can rent any kind of car you want
I've wanted to get a hellcat. But looking at least a $700 dollar monthly payment isn't worth it to me. It's best to just save up your money, and if you need a car, buy it outright.
@@dkhill27 I wholeheartedly agree just save that money it’s not worth it
You gotta have at least 1 car guy who is a homie in life. A real friend would’ve told you from the beginning not to buy hellcat
People…… always buy Honda, and Toyota if you’re buying a beater. Maybe an old Kia spectra. These will outlast any car brand with the less amount of money you have to spend on for them to run.
Well said very smart financial decision. Keep thinking like this your pockets will be fat.
@@DaveHow215 I’m trying 😭💪🏾
My goodness! Yall want these vehicles so bad yall will pay 1k🤦🏽♂️. Im glad you made the right financial choice to give it back.
I have a 2020 Charger SXT. They said regular payment was about $900.
I came in with 703 credit score and 3k down payment. Walked out with monthly payment $598. That was in 2020.
I will never pay no more than $650 monthly for any vehicle.
Oh, and i love my Charger. Im looking forward to it being a collectibles vehicle😊.
Your right bro thank for your information
Very smart move my friend
Great choices, i think i'd stop going to dealerships for cars though! keep the car you got, invest the money you have and keep doing that until your 50 or 60 then start looking at cars again, one note, if you want a project to tinker with check out those gov sales, you could throw 3gs at a car you like and fix it up the way you like! Those dodge police awd 5.7 pursuits look pretty sweet plus if you get one for 3gs and throw some money at it, you'll have a mopar vehicle, that you can toy with and have some fun with just saying! Me personal thinking that 25k is the limit for me! LOL on a new car that is! I just think people are crazy spending 50k on vehicle. If you can't cash it out and make it yours it's not worth it! Modder4life! :)
I'm actually glad to see Stellantis has ruined Dodge and ended this nonsense.
I was spending $1500 a month on my Charger Hellcat and insurance.
MY MORTGAGE isn't that much lol. It's unbelievable the opportunity cost of these luxury cars - and most people didn't realize it till rent/mortgage unaffordability became the norm.
Bro live your best life while you are still young. Don't worry about stocks, bonds, IRAs, etc... Sure put a little away every month but don't obsess over it. You don't want to be old and have regrets. Ask me how I know.
What an ignorant ass comment
@@Stiller-Nation don’t tell me this lol 😂 I’ve been trying to avoid dealerships. I’ve bought 10 cars in the past 8 years
You made the right decision, that’s being responsible. Keep investing and you will have the money to buy these cars in cash one day.
@@Whyyoucappin facts that’s the end goal for sure 💪🏾
Wow ty for sharing this. I Gucci wit my corolla 😂
Well said!
Finance and then after 1 month pay it off. Or pay it for a year to build credit, then pay it off.
You should have got a hemi and supercharged it for like 7k. It's cheaper to build a hellcat than to buy one. You can buy a conversion kit online. You live and learn though.
The salesman was like we extended your term another year and got your payment down 1000 bucks😂
Lmaoooooo no doubt
I am currently trying to get out my loan now.. people have been voicing the rate these loans are going is diabolical. I'd rather invest into what I can own because doing payments and maintenance not to mention insurance will eat your pockets alive. Hell so many have dived into rebuilding projects and beefing up the security instead. There are more old school rides on the roads with temp tags in my state just to afford some kind of transportation. They can keep those over a $1000 notes
Dang I pay basically the same for my Plaid S, $1k for the note, $500 for insurance, but my insurance thinks I drive over 24k miles per year, which is probably true. $500 for it to just sit in the garage is insane.
@@sasukesuite1 sheeshhh that’s nice tho. Those are some fast cars! If you can comfortably afford something I say live life! YOLO
Ya man I hear ya, I drive about 140 miles round trip to work. I work construction so I can’t drive it to work between the dusty yard I park in to the commute. Car sits. And then I went snd bought a Z06 both on my channel. Gotta have a beater Honda or Toyota
@@Hellcat71782 absolutely!!! That’s my goal in the end. A 2015 manual Z06 is what I’m aiming for. Or a 2014 Shelby GT500 manual 😭😭😭
@ ya my Z06 is a 2016. 6,000 miles. It’s fun. My Camaro is a stick, I’m a teamster so I’m so sick of driving standard the Z06 had to be automatic. I can’t stand driving standard when I’m not working. I saved up for 2 years to buy the hellcat cash. And then I just bought the Z06 one day I took a day off of work and bought it cash too. I got some rental properties and stuff.
@ goals 🥹! Proud of the success 💪🏾💪🏾💪🏾
@ only comes with hard work and waking up at 4am. There’s money in truck driving/construction
Any car you can only buy via car payments is a car you cant afford
@@JohnSmith-fi2ck but it was nice 😭
Been there done that! I bought a ‘19 Z06 for 84k in 21. Sadly I traded her in back in July-😢😢😢 hurts not having her tho!😢
@@mnoell35 it definitely hurts but our pockets feel so much better lol
Dang that I love my charger I hv 392 scatpack widebody. I live Brooklyn ny. It was good on gas for me. I drove from Brooklyn to Richmond with quarter tank. Its gives 467 miles because it's goes to 4 cylinder over 50 mph. And i don't drive like that because I get on the train. Im 41 I love the car is expensive but get what u like if u can do it.
@@mikeechols2784 I had a 2019 slim body scat and I loved it. I just hated the bank that financed it lmao other than that it was awesome
@TheRhodyExperience wassup man ur right about those payments and insurance its high as heck. But its good to hear what saying about putting ur money in the right places. God bless man peace
@ yessir 🙏🏾
YES,SAVE YOUR MONEY FOR BETTER THINGS not A Deprecating Car.
Glad u learned a valuable lesson. Cars will get u in debt and broke quick. Get a cheap, reliable ride and drive it to the wheels come off. In the meantime, stack dollars. 👍
💪🏾facts been stacking for months now! Saving a lot
Congrats...👏🏻
@@is3180 💪🏾
Wow, that's a lot of poor financial choices. Where is the financial upside in any of this?
Fully agreed.
If i buy a hellcat, it's getting driven everyday. Not going to pay that kind of money for a car to sit.
@@Ms_Introvert_4_Life that’s exactly what it did haha. It sat in the garage all the time 😭
My hellcat hasn’t been driven in about 2 months. My Z06 hasn’t been driven in 2 months. I drive my 2003 civic daily 😂 crazy huh?
@ lol u have to drive one on the weekend tho sheesh 🥹
@@TheRhodyExperienceit’s winter right now. Salt, rain, snow.
@ oh tough. I live in TX so we always have awesome weather 💪🏾
Facts my guy i got a 2010 dodge charger rt with 24s and the fact its a v8 but cars like what we got we need a second car
💪🏾😭