A1 advice brother . I've been in the car industry for 4 years , and this is solid advice . It also helps to strengthen/ built your credit profile, when you finance.
Erick Khan, I don’t know how I came across you but man you as a person so good. Hard to find people like you that have good mindset. You are teaching the world & it’s beautiful thing
Mans mindset and goals go beyond weed and TH-cam he has the knowledge to be a great entrepreneur and businessman and love that he makes videos that help you with financial help along with his weed tube base. Keep it up Erick! 👌💯
Had the same thought going thru my head and strangely enough similar math, still got my BMW tho love that you talked about a baseline price, I didn’t fully recognize this but you’re right in that I feel like our cars can still uphold a chunk of their value for being a bit more on the luxurious side especially if in good condition. I need a way to make money off my car if I plan to upgrade, I thought about starting a more modernized autoshop and use cool cars to attract but back it up with skill techs and mechanics but i don’t know anyone and what’s slowed me down is thinking whether I should become that tech/mech. But fuck that might take longer love the vid dawg
Yo Erick just gotta say you a g and thank you so much for the life advice I’ve literally flipped my life around since I’ve come across your videos , energy and knowledge
Like I fw how fucking smart u are my guy like da makes me want to become smarter and start researching shi I’m into. Keep going on TH-cam definitely gonna be something big just remember me saying dat💯
Erik right if you buying new or even a certain age of the car. However if your buying a used car I.e C4 corvette or even a motorcycle buy it cash because those assets are typically done depreciating and or have very little depreciation left good advice tho my man
I see your point but I’m the type of person who likes to keep cars for a long time and I’m glad you said that if that’s the route then cash is better. But I see how financing a car can work if you are the type of person who wants a different car every couple of years me however I’m keeping my Honda till the wheels falls off
It's good advise if you have the money. I think the "school" message is avoid buying things on credit if you can't afford them in cash., as in that case you'll 100% be worse off.
5% interest on $20,000 is not $21,000 lol the final total interest paid depends on the life of the loan but if you did 4 or 5 years like you mentioned in the video it would either be $2,108 or $2,645 in interest paid alone. And before anyone comes and says “it would be $1,000 if paid within a year” if you’re gonna pay it off within the year just pay it cash and save the grand
Good advice, also you can refinance! I got an auto loan at 5% over 5 years but refinanced after 1 year of payments. Now it's 3% for 28 months and I can make more than 3% in the market
I got a 5th gen camaro b4 covid, im up like 5k on it with the market, but theirs no point to sell it. For like 10k i can procharge it and make it scary fast and way more reliable then a foreign
I financed my car and used the money to go all in on crypto before the crash, down 80% but over the course of the 7 year loan I would expect that to be worth a lot more than my original buy in price
Erick if you see this do you think it is a good idea to buy a first car with just cash as a teenager because I was thinking about buying a car with just cash but I watched this so I don’t really know what I should do now let me know ?
So like say if you want to put a $1,000 down payment on a car (I’m dropping down to $10,000 because another $10,000 on aftermarket parts could make it worth “more”) just save up $2,000 so you have the extra $1k for the interest rate? Idk but makes sense to keep just a little bit of a rain fund for your car. My bank said I could afford a $15,000 car but I really wanna 2008 G37 stock which is just under $10k only problem is it’s hella hard to find one under that where I’m from (did find a few, one for $5k but seemed sketchy)
Damn bro both you and Doug de Muro be hating on paying with cash. Personally, cash is a better option if your buying used because of less depreciation as well as less entry cost. However, like both you and Doug said getting a loan and betting your cash into the stock market has the potential for you to minimize losses if not make a profit. Great video man love the big brain plays!
I bought a 2006 lexus gs300 with 100k miles for $10,000 cash in 2015.. i still have it with 267k miles and i still have and drive it, so id say i got a new car out of it and my money worth. I got offered $5,000 for it with all the paperwork for everything in maint. I already got 10,000 or more worth it in ownership. Most people trade in the car they buy new once it gets 80k miles or less.
I would rather save up some money and pay cash for a car than take a payment and lose my car or something else if something happens and I get in a financial rut. Then it's also your asset to sell or use however you like so if you do need to cash flow it you can sell it any time and all the money you get is yours.
Idk why when people get a little bit of money they go for a BMW or Benz, I sold cars for two years a couple years ago and I will tell you these are always breaking down. Cadillacs are just as luxurious and way more reliable and holds its value better. Most American Luxury cars are better than foreign as a investment to get you from point A to point B which is all a car is for. I do HVAC and most rich people homes I do they still have their Chevy pickup or Toyota Camry from 10 years ago or longer. I see real smart rich people usually don’t drive expensive vehicles, they’re not trying to keep up with the Jones
Question ? I though that your credit would build better if you do the payments monthly then financing it and then paying it in full on the 2nd payment bc banks like to see consistency
How was the maintenance with the bmw was is a pain in the ass? I hear so many different opinions about luxury cars but what’s your honest take on it 🙏🏻🙏🏻
Crazy cause I got my license last week and am looking into a car but money is tight. I’m putting 3k as a down payment but I just don’t want a piece of shit car but I don’t want my parents being over 300 cause insurance already gonna be a bitch
Technically speaking Dave was saying to buy a cheap car first then put money away every month that would be a car payment and never spend it until the next car
Cars are freaking expensive nowadays my brother put 30,000 miles on his Camry and he got hit once and he's getting offers for as much as he paid for it
I think when people say buy a car in cash I think what they should really should say you shouldn’t buy a car if you couldn’t buy it out right with cash because a lot of people dont have the money so they finance and can’t keep up with the payments
I paid cash for one of my vehicles but it was my motorcycle and it was 4500 bucks so was worth it. With cars though paying cash isn't. #1 interest is at good rates these months #2 increased credit score
successful stoner, this is what people really needa see, smart man🙏🏼
frfr
Fr I would always bring him up when my mom said smoking weed gets you nowhere
no lie! and what sucks too is people think the successful stoner is 1 in a million! reality is, most of us are on our way up
Always knew shanks smoked the ganja
@@reyes__2833 true eventhough It does make me lazy
this man really pulled out the crustiest 1 from his wallet for the thumbnail
😂😂😂high af this a good comment
🤣🤣nahhh
A1 advice brother . I've been in the car industry for 4 years , and this is solid advice . It also helps to strengthen/ built your credit profile, when you finance.
frrrr, loving these educational/ car vids bro💯🔥
love ur vids and streams bro 🔥
Fax
@@munchy8441 ayyy much love ur a legend fr
Brodie stay putting his people on game. Goodlooks!
Fr
Erick Khan, I don’t know how I came across you but man you as a person so good. Hard to find people like you that have good mindset. You are teaching the world & it’s beautiful thing
Mans mindset and goals go beyond weed and TH-cam he has the knowledge to be a great entrepreneur and businessman and love that he makes videos that help you with financial help along with his weed tube base. Keep it up Erick! 👌💯
Bro I’ve only gotten 3 mins in and I already love the vid. This is the exact type of content I’m looking for
Love u erick glad to hear ur tips as a young guy that's gonna have to start looking into buying cars soon
Bro the LA vibes in the background are immaculate. I miss those late nights that it's cool enough you wanna wear a hoodie. Awesome vid bro
Had the same thought going thru my head and strangely enough similar math, still got my BMW tho love that you talked about a baseline price, I didn’t fully recognize this but you’re right in that I feel like our cars can still uphold a chunk of their value for being a bit more on the luxurious side especially if in good condition. I need a way to make money off my car if I plan to upgrade, I thought about starting a more modernized autoshop and use cool cars to attract but back it up with skill techs and mechanics but i don’t know anyone and what’s slowed me down is thinking whether I should become that tech/mech. But fuck that might take longer love the vid dawg
Yo Erick just gotta say you a g and thank you so much for the life advice I’ve literally flipped my life around since I’ve come across your videos , energy and knowledge
Bro this is exactly the type of videos I want, aside from the regular weed vids lol great stuff
i got so much to learn before i’m outta school bro😂 you steady putting me on game tho
notification gang love the educational vids and all the content 🔥🔥
Love the vibes of this new channel man!
I appreciate this dude hella. Way more than just a “weed tuber”. Keep shinning bro and big thanks🙏
Let’s gooo, but ay man you should look into a 7 series.
He's getting a C63 coupe i believe
That’s like a family car lol. He’s young..
@@joshnorris1727 everyone has a different preference
He’s Mercedes family bro he not getting a 7 series
Bro sedans are we’re it’s at. I’m with you guy @Edgar Aranda
Like I fw how fucking smart u are my guy like da makes me want to become smarter and start researching shi I’m into. Keep going on TH-cam definitely gonna be something big just remember me saying dat💯
Erik right if you buying new or even a certain age of the car. However if your buying a used car I.e C4 corvette or even a motorcycle buy it cash because those assets are typically done depreciating and or have very little depreciation left good advice tho my man
3:46 lol this is a great point right here
I see your point but I’m the type of person who likes to keep cars for a long time and I’m glad you said that if that’s the route then cash is better. But I see how financing a car can work if you are the type of person who wants a different car every couple of years me however I’m keeping my Honda till the wheels falls off
I’m 22 and got my job I wanted for the future and I’m in this same situation thanks for the info and outlook u gave
A series with khan will be much needed 💯👌🏿🔥
Car Content would make this channel 10x better
It's good advise if you have the money. I think the "school" message is avoid buying things on credit if you can't afford them in cash., as in that case you'll 100% be worse off.
5% interest on $20,000 is not $21,000 lol the final total interest paid depends on the life of the loan but if you did 4 or 5 years like you mentioned in the video it would either be $2,108 or $2,645 in interest paid alone. And before anyone comes and says “it would be $1,000 if paid within a year” if you’re gonna pay it off within the year just pay it cash and save the grand
Facts
Good advice, also you can refinance! I got an auto loan at 5% over 5 years but refinanced after 1 year of payments. Now it's 3% for 28 months and I can make more than 3% in the market
I got a 5th gen camaro b4 covid, im up like 5k on it with the market, but theirs no point to sell it. For like 10k i can procharge it and make it scary fast and way more reliable then a foreign
Please make more vids like this really helps young businesses owners
I financed my car and used the money to go all in on crypto before the crash, down 80% but over the course of the 7 year loan I would expect that to be worth a lot more than my original buy in price
Yo! It is SO great seeing another intelligent stoner that's successful... Keep doing whatcha doing fam, cheers and love from SC 😎
Finally khan academy is in session !
Yo cant wait for the trio podcast u gob and yola my 3 favs finnaly came together watched em all grow from dust to gold👍💯
Bro the way you explained this was dope tysm
Literally changed my mind on this topic. Definitely some valid reasoning
All your content is always top notch man. 🔥👌
Its crazy somepeople dont leamr things like consumer ed in school
Appreciate this kind of content. Don’t see it too often💯💯
Erick if you see this do you think it is a good idea to buy a first car with just cash as a teenager because I was thinking about buying a car with just cash but I watched this so I don’t really know what I should do now let me know ?
So like say if you want to put a $1,000 down payment on a car (I’m dropping down to $10,000 because another $10,000 on aftermarket parts could make it worth “more”) just save up $2,000 so you have the extra $1k for the interest rate? Idk but makes sense to keep just a little bit of a rain fund for your car. My bank said I could afford a $15,000 car but I really wanna 2008 G37 stock which is just under $10k only problem is it’s hella hard to find one under that where I’m from (did find a few, one for $5k but seemed sketchy)
love seeing you share the business knowledge bro
the autofocus on the lights drove me crazy for a sec lol
Damn bro both you and Doug de Muro be hating on paying with cash. Personally, cash is a better option if your buying used because of less depreciation as well as less entry cost. However, like both you and Doug said getting a loan and betting your cash into the stock market has the potential for you to minimize losses if not make a profit. Great video man love the big brain plays!
Great video Erick, you know you got teenage stoner viewers and you gave some good humble advice 👍
I bought a 2006 lexus gs300 with 100k miles for $10,000 cash in 2015.. i still have it with 267k miles and i still have and drive it, so id say i got a new car out of it and my money worth. I got offered $5,000 for it with all the paperwork for everything in maint. I already got 10,000 or more worth it in ownership. Most people trade in the car they buy new once it gets 80k miles or less.
Yo this is good bro that just helped alot😂you gotta make a series or some shit no cap
I got a clean 2002 e55 that shit just gonna go up in price📈
I love these types of videos I love seeing fellow well “life” educated stoners like myself
I would rather save up some money and pay cash for a car than take a payment and lose my car or something else if something happens and I get in a financial rut. Then it's also your asset to sell or use however you like so if you do need to cash flow it you can sell it any time and all the money you get is yours.
This is like those investment gurus channels, but I feel like a friend is me giving financial advice
Damn, this 7 min video was more useful than my last 10 years of school
probably shouldve paid more attention in class lmao
@@bull8392 they don’t teach u shi about the real world in school u goofy .
Bro I love your glasses, where'd you get em?
Thanks for this Free Game bro 🙏🏾
Idk why when people get a little bit of money they go for a BMW or Benz, I sold cars for two years a couple years ago and I will tell you these are always breaking down. Cadillacs are just as luxurious and way more reliable and holds its value better. Most American Luxury cars are better than foreign as a investment to get you from point A to point B which is all a car is for. I do HVAC and most rich people homes I do they still have their Chevy pickup or Toyota Camry from 10 years ago or longer. I see real smart rich people usually don’t drive expensive vehicles, they’re not trying to keep up with the Jones
Dope erick now lets talk about GlassX and Anova and the journey behind it like creating the LLC and all that. Would be awesome bro
Mans taught me more life lessons in a 8 minute video then my parents ever did
😂
Any tips on how to stack up money for a car ?
Erick Khan underrated af he goated fsfs
Mess with this vid bro God Bless ✊🏽
Question ? I though that your credit would build better if you do the payments monthly then financing it and then paying it in full on the 2nd payment bc banks like to see consistency
hi 6 months later but you are correct. you shouldn't pay it off all at once.
We need those car vids homie 🙏🏼🔥
the fact i can’t count on yt too teach me more then high school
ya man you rlly can’t count on yt to teach more than school huh
If you arent focused on making a dollar in every area of your life just buy the car guys.
@kris_fister and thanks for the advice im ab to buy a new car and was wondering how i should pay for it
Bro you gotta get a cayman gts its so amazing
Needed this Man.
Where did you get your glasses 🔥
Love your content dude you need to expand this channel for more than cars do travel and food and places
Thanks for advice Erick. Currently trying to get a new car
How was the maintenance with the bmw was is a pain in the ass? I hear so many different opinions about luxury cars but what’s your honest take on it 🙏🏻🙏🏻
Erick coming in with the wisdom, love your videos bro 🔥🔥🤙🏽
Like the vid but just my opion if u have the money u should just buy so u dont gotta worry about a payment even if its not a worry
Ayy we with that early gang !
dudeee so insightful, preciate this kind of content!
Can you make a video on SAVING to that 20k , most people are living paycheck to paycheck and don’t have the credit for a loan , advice on saving
Love this type if content from u bro
Crazy cause I got my license last week and am looking into a car but money is tight. I’m putting 3k as a down payment but I just don’t want a piece of shit car but I don’t want my parents being over 300 cause insurance already gonna be a bitch
Technically speaking Dave was saying to buy a cheap car first then put money away every month that would be a car payment and never spend it until the next car
Dope advice, definitely learned some things that I didn’t know before
IG: @Joel.Cis
Let’s goooo baby hyped for you Erick !!
Thanks for putting me on erick! Very informative definitely learned something new 👌
Mans put a dollar by his BMW for the thumbnail lol. Mans is ballin tho
I just did what you are advising against. I totally agree. You end up spending too much up front
This is gonna be a great series
Love the vids man keep up the good work, and grind
What about for a first car? Should I pay cash or make payments ?
Cars are freaking expensive nowadays my brother put 30,000 miles on his Camry and he got hit once and he's getting offers for as much as he paid for it
I’m 18 and my parents wouldn’t trust me getting a loan they always tell me just drop the ex amount of money
I see those accounting courses from college paying off 🤣😭👍🏽😎😤
I think when people say buy a car in cash I think what they should really should say you shouldn’t buy a car if you couldn’t buy it out right with cash because a lot of people dont have the money so they finance and can’t keep up with the payments
I paid cash for one of my vehicles but it was my motorcycle and it was 4500 bucks so was worth it. With cars though paying cash isn't. #1 interest is at good rates these months #2 increased credit score
Loved this lil vid man!
Got any idea on the next fan meetup?? 👀
This is exactly what I think when people say to buy everything cash
love you papa erick this is quality content
great advice! thanks for the information
When are you gonna do a house tour video
Thank you bro🙏🏻🙏🏻
Im in la right now it’s fun cruising in la unless I’m trippen