They sure don't. They also put those ridiculous lift-kits on them even though they live in the middle of a city and wil literally never go off-road with them. Clearly their compensating for something.... 🙄
Yes sir! Even if it is a 60 month SAME AS CASH loan, that’s 13,800 post-tax dollars per year. The max annual contribution to a 401K is 19,500 dollars. Assuming income taxes of 25 percent, he could put 18,400 pretax dollars into that 401K with the same amount of money! He is LITERALLY driving his entire 401K!
@@BigD-jc6rj Yes but who is going to respect him driving around in a used Honda all day? Who will associate with him or appreciate him? No, he needs to drive a proper car, one that tells the world he is a somebody. Not a nobody.
Well, no one is going to respect him driving around in a used Honda all day. Who will associate with him or appreciate him? No, he needs to drive a proper car, one that tells the world he is a somebody. Not a nobody.
@@gamebreak81 Yeah. If he had consistent income and could actually justify paying for that truck with a good reason, it may not have been as bad, but buying a new vehicle on a loan with an inconsistent income is a fast track to bankruptcy
It’s exactly what I did. Bought a 57k truck on payments. Sold it 10 months later (after working like an idiot on bath salts to pay off the negative equity) for 37k.
Depends. If its a Jeep Gladiator he could get a good chunk back. Some trucks hold value better than other but never enough to go crazy on it like this.
@@dodda I do not. Why would I do that. I I am just saying that I do know Jeep Gladiators hold their value batter than most other vehicles. Its similar to the Ford Raptors. Why do you think Dave Ramsey owns a Ford Raptor. Of course it goes down in value but not as bad as some of the throw away vehicles.
The second most stunning thing to me is how trucks came to $70,000 vehicles. The FIRST most stunning thing to me is how many idiots are running around in the things for only 84 easy payments of $1000 each......😮
America has completely normalized debt. My parents do really well for themselves, they have no debt but they bought a new TV recently and my mom said my dad financed it and I asked why they did that when they have $1000 easily in the bank and she said “you know your dad likes financing at zero apr” 🤦🏽♂️ She knew it was stupid but my dad likes debt for whatever reason.
Yes it costs us a lot to be poor, renting homes instead of buying, paying interest instead of collecting interest, on and own. Poverty is expensive. It costs peace of mind, too.
Man, when I moved back to Texas 2 years ago after living in Asia 10 years, it was shocking to me how many $50K+ trucks (or SUVs, too) people drive. There’s no way this many people can afford it. I felt stupid for buying a $34k new car, even though I had no debt and a boatload of cash.
The problem is REBUYING, cars $70K for a 2020 F-250 4x4 Platinum Supercrew. Put 5K miles /year and 50 years from now you have 250K miles on it. Maybe in 2071 he will look back and say best investment, I ever made. My 1972 Chevy, three on the tree, straight six, will sell for 10X next year, 50 years old
Probably is a half-ton, dude lives in the suburbs, doesn't own a trailer, doesn't have a trailer hitch, doesn't own tow straps, and his hobby is watching ball sports on a TV while he sits on his rear-end
I mean. He said he does construction management for a living so I'm sure he every once in awhile has to tow a work trailer or do a supply run to Home Depot or something like that.
I see it at the outdoor park all the time. I'm riding my $4K dirt bike that I paid cash for and everyone else has a $30K side by side mortgaged to the hilt. Fun to watch.
funny thing, you can run a beautiful 10 year old tundra and still have reliability, and good looks and pay cash for it... ive finally realized that the new vehicle i bought is just a used vehicle now .
That car cost as much as his take home pay (I assume the 95k are before taxes), and he bought it in the middle of a pandemic. Did he expect construction is going to boom for sure the next few years. Jeez !
I'm not gonna lie, I keep having to bring myself back to reality as I think about getting a truck. It's ridiculous the temptation thats there for people like me, but in the end, not having to shell out 500 + dollars a month is what keeps me grounded. One day I'll be able to get a truck, but right now my family doesn't need to pay the price for it.
EVERYONE world wide would be doing this if their nation had the financial backing/ability to loan large money to their nation's people.... Just because someone can't, doesn't mean they're not stupid too.
seriously, my wife and I make over double this guy and I have a hard time even putting money into our house which is a much smarter way to spend money than vehicles which end up in the trash.
Especially those mid-size trucks ; Ford Ranger, Toyota Tacoma, Chevy Colorado. Fully-equipped or just a bigger engine option will spill into full-size truck price which gets you more truck for your monies than a mid-size one. Truly insane!
@@arturotorres6437 They recently raised the price of half tons so I don’t think this is true anymore. Half ton trucks will depreciate massively as fuel prices go back up.
Guys i bought a 1993 ford ranger for 2 grand 14 months ago. Still runs like a top, and has broken down a total of ZERO times. 14 months of 0$ car payments baby! I love watching that IRA grow and grow while others call me a broke boi!
I bought a 2015 Ford Fiesta a few months ago for $4k. Zero issues, and could buy another one in full after 2 months of saving if I had to. No more car payments, and all my investment vehicles love me
Exactly right, Rachelle. Good for him to go through Financial Peace University and to get a mentor but he shouldn't seek validation for his financial stupidity. Needs to be standing on his own two feet when it comes to making better decisions and being confident.
Just did the math, yep 12k per year = 84k over 7 years. with interest that is easily possible. And then he has to drive that car for 7 year. - John Delony said in another vid that they try to live modest and his truck is 10 years old (or 12 - I forgot which DOUBLE digits !). He had a small accident, he said the color drained out of the face of the woman. That is why I drive an old car. Vandals scrath your car ? Big deal if it is old.
On top of that such an expensive car requires expensive insurance just in case he totals it. Even more so if he finances it. With a low cost old reliable car you can carry the risk, even if you total the car you can make do w/o the backup of an insurance company. Chances are you will never need the budget that would go into insurance for accident or vandalism related repaairs. the fender benders are not traumatizing. It is either a cheap repair - or none at all (scratches). The owner does not have to spend the premium that would go to the insurance company for a higher priced car.
I have an 2001 f350 crewcab duallie . Pulled into Homedepot and parked next to an F450 crewcab duallie platinum. Asked the guy what a new truck like that costs ....$110K ! Looks like it’s an oil change and 6 new tires ... drive it till it DIES!
Right!?! I have seen more new cars driving around lately than ever before and yet so many people are on unemployment.... I guess that free money 🤑 is helping them out. Easy come, easy go.
@@c103110a Well, dealership’s wouldn’t want that because their job is to get you signed up for 36-60 months worth of payments. It’s all a big game to them & it’s how they make their money. It makes me sick....
I like fancy new trucks as much as the next guy but I like NOT working overtime even more which is why I have no problem walking away from the dealership.
A better question would be why does a truck cost $60k -$90k or more? Simple supply and demand. People buy them, when a long time ago they were cheapest vehicle on the lot.......when nobody was buying them. Now they are luxury vehicles not used for work........the new status symbol.
One of the reasons vehicles cost so much is that a modern vehicles are loaded with endless electronic and mechanical features. People think they are buying a Federation shuttlecraft when in reality they are buying Windows 95 and an endless parade of malfunctioning gadgets.
They're expensive because, they are all financed, allowing people to pay more for them! The same applies to houses. If everyone needed to put 20% down, and credit wasn't so easy, the prices would drop to affordable levels.
@@tompain2751 My 2005 explorer has a "fly by wire throttle body, with position sensor and mass flow sensor and a fully integrated ECM to run it. My 1972 has a carburetor, bimetallic choke, and a throttle cable. Remember, "steer into the slide" Not required anymore: wheel speed sensors and clockspring in the steering wheel send different amounts of braking to each wheel. What do you think is the COST to manufacture a $70K for a 2020 Ford F-250 4x4 Platinum Supercrew.
@@aolvaar8792 Approximately $20,000 gate price. That's a guess. The true price is a manufacturer's secret. As for the computer controlled junk, I'd rather be in control.
@@tompain2751 I'm thinking $35-40K, My 1972 Chevy truck Manual master brake cylinder manual steering box a choke centrifugal/vacuum advanced distributor mechanical fuel pump carburetor Instead a rechargeable hybrid that you put 5 gallons of gas in every 3 months, As for being in control: Hughes Avionics heads-up display 4 wheel electronic power distribution Without computer controlled junk this would not be possible 150 Mph Luxury Autocross(4 wheel dirt) Like, an Audi A8L W-12 Quattro The demarcation line between buying and acquiring seems to be about $100,000.
4 ปีที่แล้ว +44
100% lost money on that. Cars value drop instantly
I just love it whenever someone says something like "Oh I went through FPU" or "I'm a long time fan of your show", just to immediately say then went and did some "stupid" anyway.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing below the $100k mark and in the first 2 months, my portfolio was reading $234,800. Crazy right!, I decided to reinvest a huge percentage of my profit and it got more interesting.! For over a year we have been working together making consistent profit just bought my second home at the beginning of summer.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@BrandonIvan-c6e However, if you do not have access to a professional like SUZANNE GLADYS XANDER, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
@@toddlehman1 Depends on the company, some company's will pay you like 1000$ a month to use your own vehicle. But if they are given a truck and still use their's, they're dumb
I know a friend who bought a new car a few years ago; paid too much and financed over 8 years. Got tired of it and traded it in on a newer pickup. I did the math; he lost 11,000 on the car but insists he got a good deal on the truck. Keep in mind- this is a guy who is actually quite savvy when buying/selling guitars. You can’t fix people like that.
I bought a 2014 F-150 Super Crew Cab 5.0L for $19K cash a year ago. It has zero rust, all maintenance kept up, only 80k miles on it and the other day I pulled out my neighbors 2021 fully loaded $80k GMC from the snow. Then I told him to get a real mans truck. Now he has buyers remorse and a huge monthly payment.
@@JifferRiffic No doubt, my comment was more about new trucks. There are plenty of affordable trucks on the used market, but people think they need everything new and the dealers make them pay for it. He's definitely got buyers remorse. 69k for a truck, especially a truck youre going to "use" is ridiculous
@@JifferRiffic I had a 79 Ford Truck that I paid $500 for with 300,000 miles on it, and funny thing is, I pulled a 2014 F-150 Super Cab 5.0L out of the snow awhile ago. He paid 19k for it lol. I think he has remorse now.
@@JifferRiffic debt aside, no Ford can compare to a Denali. The Denali is the rolls Royce of the truck world. I'm from Santa Monica, I know this inside and out
Our house cost $69k! Paid off in three years! Now we have a home that needs some paint and new carpet- otherwise warm and tight! I refuse to pay over $20k for a vehicle! Cash only!!
@@maryjane-vx4dd definitely a stupid decision and it's his issue. HIS problem is that he's not living a life of purpose and is letting/allowing other persons to sway his mind.
I just sold my fully loaded durango that i bought a year ago for 42k, i knew it was a dumb purchase after the 2nd payment. Im glad i got out of that, I wish this man can get that closure with this purchase.
Yep and that wears off in just a few months. The only time a car is brand new is when you're in the dealership signing the paperwork and as soon as you're done and they hand you the keys it's now a used car.
Plus you could buy a used truck for a quarter of the amount, and replace/upgrade some components for a few thousand, and still have a fun yet affordable truck.
@@stephenshelton4267 Right. But you can only do that if someone else buys the truck new in the first place. The inventory of used cars in the U.S. is 100% dependent on the sale of new cars by dealers. If everyone takes your advice, then new car sales and the inventory of available used cars plummets, and the price of used cars skyrockets, which means people will end up paying a lot more than they are right now for something that isn't new and doesn't have the latest technology or safety features. Can't have one without the other.
Dude. Seriously. Like if youre gonna sign a 70k note, why not make it a 2 bedroom house outside of town and rent it out?? Youll be making MORE than the mortgage payments.... some people are so dumb
@Brian J yeah, I understand what you’re saying and you’re not wrong. My savings rate is 80% and I invest everything. I feel like all things considered a 20k truck to help me flip houses isn’t doing too much harm!
Toyota’s hold their value extremely well. Purchased a 2003 4Runner for 5300 plus tax a year ago and have been very happy. Most importantly it’s not another payment on my plate
My neighbor has done the exact same thing, bought a $70k Ram 4x4, and they live in the city in SoCa! He is not a contractor or rancher- he doesn’t even need a truck anymore than I do with my Subaru wagon. In fact he and his wife have barely worked or made much money for the entire year! We’ve paid off our house a few years ago, have reliable 16-20 y.o. cars and zero debt. They are barely making any money, have at least $700k mortgage and he goes out and buys a $70k truck to go fishing and camping with a few times a year. It’s crazy!
I have no debt and a net worth of about $6.5mil. I want to buy a new truck but can't see paying $69K! Obviously my brain is wired differently. I look at the future value of the money lost on any significant purchase which always makes me change my mind. $69K in 10 years could be worth another half million.
I know. I have a 75k jeep and I realized I could’ve bought a 250k house instead and still lived super comfortably. Guess I’ll stay at home for a bit longer ugh.
The only reason they are that high is because people still buy them. There is a reason why trucks have the highest profit margins for American Manufacturers.
@@TheLivedeath Not necessarily. Another huge reason is huge financing windows like 84 months and dealers using their own banks like GM, etc. to make even more money on the interest over 84 months
I don’t care what you say. Ramsey is the blueprint it’s a simple system to follow that works. I slipped up this past year with no valid excuse but I’m on my way Dave!
Those of us who use our trucks to make a living can justify such a purchase... However, we typically stick to the base model (usually about 40-50 grand) not the fancy pants, top trim models. Those are for the big bosses that come to work in suits.
When I was his age I bought a new 2006 GMC K1500 Ext. cab pickup for about 1/3 the price with cash...I'm still driving it! Thanks to the ever rising cost of new trucks, mine has depreciated less than $100/month. These days I could buy his truck many, many times over with cash and I wouldn't dream of spending anywhere near this much on a depreciating "asset". I've seen far too many folks spend their way into financial disaster like this thinking that material possessions will make them happy when the reality is that the payments are making them miserable.
In 2015, I paid cash for a 2011 3.5l ecoboost F150 with heavy duty tow package and a Tommygate lift and 140k miles. $10k - still driving it and 250k miles without any significant issues. Probably the best $ spent on a truck... Now I am not without sin, I own a Ferrari too.
LOL hater. So what's the problem with the ecoboost motor? It's plenty strong and it has no problem towing a 24 ft enclosed trailer at highway speeds 20 hours nonstop, even with a Ferrari in it. As equipped, it had the highest tow ratings from the factory that year for an F-150, at 11700 lbs.
Driving my reliable 2009 Toyota that I spend on average $50/month to maintain. Used all cash for Christmas and New Years. Made a point to pay off all January bills before the end of Dec. Starting the New Year off debt free and with no bills feels good! Looking forward to picking up intensity on my mortgage and exploring different types of investment opportunities.
He knew it was a bad decision because he didn’t tell his mentor until after he bought the truck. Always go with your gut, if you feel it’s not the right thing to do, don’t do it!
2 years ago I bought a 2 year old heavy duty truck with 12k miles for 50k. It now has almost 50k miles and according to kbb it's still worth 50k. It's made me a decent living on top of the payments, and it's retained almost all of its value. I use it for towing equipment and as a work truck. Used truck prices are ridiculous, probably because most people that buy trucks don't really need trucks.
This is common everywhere. I see loaded f150s, Rams and titans on the high ways. If the average income in the US is 59k. Tons of folks like him out there
@@Aznmf I know. I bought a new truck in 2019 at 0% financing, but still paid it off in 6 months. Had to finance for 6 months to get extra rebates and discounts (about $2k). Truck cost about 25% of my income. I’m self employed so I also get to write it off. I wish more people would listen to Dave’s main message “Debt is bad.”
@@ThePerkDaddy he had to get the truck the joneses have. Nissan sells frontiers(V6) at discounted prices. MRSP for a double cab is like 18k. Since he is in construction management, highly doubt he needs v8, towing and payload. Heck he could have gotten a Tacoma work truck for 25k...
Tries to soften the blow of breaking up from a 9 year relationship by buying a new truck. Epic fail. I was talking to a Real Estate Agent that said he had a Doctor client bidding on a house. Deal fell through (could no longer qualify) because he ran out and bought a Porsche because his girlfriend broke up with him. Stupid Tax indeed.
Say goodbye to debt forever. Start Ramsey+ for free: bit.ly/35ufR1q
I love how most people who buy these trucks don't even use them for heavy duty work
Are you kidding me? Do you know how much stress a sports coat in the back seat puts on a standard cars rear suspension system? Please check your facts
Over half of the “work trucks” out there should be vans. Change my mind.
@Chris topher nope but I also paid under $30k for mine. Not $79k
need all that support for all the ego they gotta carry around
They sure don't. They also put those ridiculous lift-kits on them even though they live in the middle of a city and wil literally never go off-road with them. Clearly their compensating for something.... 🙄
It’s honestly depressing how easily people go into debt
I knew someone who is broke barely making 28k a year and just bought a truck idk why maybe to look rich but I think thats stupid af
Even more depressing when we realize that the economy is structured to get people into debt and keep them there.
Easy to get in, hard to get out!
And how many people are broke just over cars
@@musicpro7278 OMG!...@ $70k a year, I don't make enough to buy a new truck!
'I can afford the payments' . Says it all.
Yes sir! Even if it is a 60 month SAME AS CASH loan, that’s 13,800 post-tax dollars per year.
The max annual contribution to a 401K is 19,500 dollars. Assuming income taxes of 25 percent, he could put 18,400 pretax dollars into that 401K with the same amount of money!
He is LITERALLY driving his entire 401K!
@@BigD-jc6rj Yes but who is going to respect him driving around in a used Honda all day? Who will associate with him or appreciate him? No, he needs to drive a proper car, one that tells the world he is a somebody. Not a nobody.
@@costco_pizza sarcasm, right? lol
@@costco_pizza I don''t really get that mentality, can someone explain why people think this way?
I picked up a ton of sarcasm with his comment IMO
He can't guarantee he's going to have his job in a few months, but he still decides to buy a new truck.
Well, no one is going to respect him driving around in a used Honda all day. Who will associate with him or appreciate him? No, he needs to drive a proper car, one that tells the world he is a somebody. Not a nobody.
Thats the part that stuck out to me...
@@gamebreak81 Yeah. If he had consistent income and could actually justify paying for that truck with a good reason, it may not have been as bad, but buying a new vehicle on a loan with an inconsistent income is a fast track to bankruptcy
Didn’t you hear he needs to drive 3 hours away? Can’t do that in a 20K truck
After selling the car, it's going to be like he lit $20k on fire. Going to Vegas and gambling the money would have been a better decision.
It’s exactly what I did. Bought a 57k truck on payments. Sold it 10 months later (after working like an idiot on bath salts to pay off the negative equity) for 37k.
@@natef1504 🤢
Depends. If its a Jeep Gladiator he could get a good chunk back. Some trucks hold value better than other but never enough to go crazy on it like this.
@@stevenbowdich6716 sounds like someone has a truck payment.
@@dodda I do not. Why would I do that. I I am just saying that I do know Jeep Gladiators hold their value batter than most other vehicles. Its similar to the Ford Raptors. Why do you think Dave Ramsey owns a Ford Raptor. Of course it goes down in value but not as bad as some of the throw away vehicles.
The second most stunning thing to me is how trucks came to $70,000 vehicles.
The FIRST most stunning thing to me is how many idiots are running around in the things for only 84 easy payments of $1000 each......😮
Easy payments 😀
So well said!
84months of 480, but yea most are around 8-1000 not including their insurance sometimes
Sometimes I feel like people just troll Dave by buying some lavish truck then call and ask him what should they do. 😂
Hi Dave, I wanna buy a car. "What kind of car?" "Better than I deserve"
@@vincenttang4680 that was good
The financial stupidity just spills over into the new year.
hahahahaha
😂
When are people going to realize the calendar changing doesn't solve anything. That's the reason why I don't celebrate new years
I don't understand people that go through financial peace university, say they learned a lot. Then go out and break just about ever rule.
^^^ THIS ^^^
It's like being a curvy blob, losing the curved, becoming fit, and then eating a box of Krispy Kreme.
They think they've done enough and deserve to treat themselves. Its how people stay poor
📺
America has completely normalized debt. My parents do really well for themselves, they have no debt but they bought a new TV recently and my mom said my dad financed it and I asked why they did that when they have $1000 easily in the bank and she said “you know your dad likes financing at zero apr” 🤦🏽♂️ She knew it was stupid but my dad likes debt for whatever reason.
It’s expensive to be poor
Are you a millionaire?
Being poor really does make life more expensive.
Try ignorance
Yes it costs us a lot to be poor, renting homes instead of buying, paying interest instead of collecting interest, on and own. Poverty is expensive. It costs peace of mind, too.
@@ThelastREALAFRICAN I tried ignorance, I don't recommend it.
Man, when I moved back to Texas 2 years ago after living in Asia 10 years, it was shocking to me how many $50K+ trucks (or SUVs, too) people drive. There’s no way this many people can afford it. I felt stupid for buying a $34k new car, even though I had no debt and a boatload of cash.
love the South, but will always laugh at the truck culture. A small percentage actually use it for it's purpose but it's rare.
Having no car payment is the best feeling ever! Can’t wait to have no mortgage payment. 😉
Same!!
When did you buy your house?
agree!
No debt payments is incredible, you can do it!
Throwing $69,000 in the trash is not something to do if you make 90k a year and have debt.
he marries that woman he'll throw away more than that.
You got that right Casey. Have a happy and healthy new yew year.
@@busterc6600 this is why you don’t get married.
He didn’t throw it away.
The problem is REBUYING, cars
$70K for a 2020 F-250 4x4 Platinum Supercrew.
Put 5K miles /year and 50 years from now you have 250K miles on it.
Maybe in 2071 he will look back and say best investment, I ever made.
My 1972 Chevy, three on the tree, straight six, will sell for 10X
next year, 50 years old
Probably is a half-ton, dude lives in the suburbs, doesn't own a trailer, doesn't have a trailer hitch, doesn't own tow straps, and his hobby is watching ball sports on a TV while he sits on his rear-end
I mean. He said he does construction management for a living so I'm sure he every once in awhile has to tow a work trailer or do a supply run to Home Depot or something like that.
Dosen't own tie-down straps 🤣😂
Construction guys are really competitive with their d...um...trucks
😂😂😂
But he can be a real man! It goes vroom vroom vroom!
Some guys just HAVE to have their big supped up truck because they see other guys in debt up to their eyeballs with them and they can't be outdone.
I see it at the outdoor park all the time. I'm riding my $4K dirt bike that I paid cash for and everyone else has a $30K side by side mortgaged to the hilt. Fun to watch.
funny thing, you can run a beautiful 10 year old tundra and still have reliability, and good looks and pay cash for it... ive finally realized that the new vehicle i bought is just a used vehicle now .
@@666dynomax nothing beautiful about a Toyota anything
That car cost as much as his take home pay (I assume the 95k are before taxes), and he bought it in the middle of a pandemic. Did he expect construction is going to boom for sure the next few years. Jeez !
@@trock233 well beautiful no... Lowest cost to operate and own.... Wish I'd found toyota sooner I'd have more money in my pocket
There are only 3 certainties in life:
Death
Taxes
Sell the Truck
Rich people dont pay taxes
You forgot rice and beans
No he forget: “and 85 gonna always be open”
I'm not gonna lie, I keep having to bring myself back to reality as I think about getting a truck. It's ridiculous the temptation thats there for people like me, but in the end, not having to shell out 500 + dollars a month is what keeps me grounded. One day I'll be able to get a truck, but right now my family doesn't need to pay the price for it.
$83,000 mortgage. $69,000 truck. And you wonder why people call Americans stupid!!!
Canada has it's share too.
He could well be paying more per month for the truck than for his mortgage.
EVERYONE world wide would be doing this if their nation had the financial backing/ability to loan large money to their nation's people.... Just because someone can't, doesn't mean they're not stupid too.
@@mustangthings for sure
...tell us you're an ignorant xenophobe without telling us...
70k on a truck just because they want it, how can people do this?
I make twice as much and absolutely agonize over spending $1000.
Same here. Crazy people out there. Not a lick of common sense.
Me too. I try my hardest NOT to spend money! It's a hobby of mine.
seriously, my wife and I make over double this guy and I have a hard time even putting money into our house which is a much smarter way to spend money than vehicles which end up in the trash.
Some people actually enjoy life
@@zoobrizz that is not enjoying life 😂
Prices of new cars and especially trucks is out of control
Especially those mid-size trucks ; Ford Ranger, Toyota Tacoma, Chevy Colorado. Fully-equipped or just a bigger engine option will spill into full-size truck price which gets you more truck for your monies than a mid-size one. Truly insane!
@@arturotorres6437 They recently raised the price of half tons so I don’t think this is true anymore. Half ton trucks will depreciate massively as fuel prices go back up.
Guys i bought a 1993 ford ranger for 2 grand 14 months ago. Still runs like a top, and has broken down a total of ZERO times. 14 months of 0$ car payments baby! I love watching that IRA grow and grow while others call me a broke boi!
I had one of those for four years(2008-2012). They run forever but; the frame, and spring mounts rust out. Somehow , the body doesn't.
93 Toyota. ? I just couldn’t do it.
I got a 94 Mazda B2300 (same as Ranger) in 2010 for 1350. It is not my primary vehicle, but runs great. No issues at all.
U was lucky
I bought a 2015 Ford Fiesta a few months ago for $4k. Zero issues, and could buy another one in full after 2 months of saving if I had to.
No more car payments, and all my investment vehicles love me
He needs a therapist. This is a hopeless romantic who will lose everything to the wrong woman!
Yep. Starting out as a simp AIN'T a good look. No sir! ☹️
Exactly, he’s gonna get robbed and left heartbroken very soon.
Exactly right, Rachelle. Good for him to go through Financial Peace University and to get a mentor but he shouldn't seek validation for his financial stupidity. Needs to be standing on his own two feet when it comes to making better decisions and being confident.
I am losing everything to the right woman. I adopted a teenager. LOL
New cars especially trucks and SUV's are just getting insanely expensive... I will have mine paid off end of the year and will never buy new again
Truck don’t drop quickly. I bought a 2018. Paid it off. And will keep for ten years
Yet, people like him keep buying them! The automakers are making money off these stupid people.
Agreed, I try to buy a couple years old and save myself 10-15k
I bought my 2017 new. Ill be keeping it for a while and probably not buying new new again.
I can make the payments $1000 per month for 7 years? Lost his mind
What a frightening thought. I had to catch my breath just reading this.
Just did the math, yep 12k per year = 84k over 7 years. with interest that is easily possible. And then he has to drive that car for 7 year. - John Delony said in another vid that they try to live modest and his truck is 10 years old (or 12 - I forgot which DOUBLE digits !). He had a small accident, he said the color drained out of the face of the woman. That is why I drive an old car.
Vandals scrath your car ? Big deal if it is old.
On top of that such an expensive car requires expensive insurance just in case he totals it. Even more so if he finances it. With a low cost old reliable car you can carry the risk, even if you total the car you can make do w/o the backup of an insurance company. Chances are you will never need the budget that would go into insurance for accident or vandalism related repaairs.
the fender benders are not traumatizing. It is either a cheap repair - or none at all (scratches).
The owner does not have to spend the premium that would go to the insurance company for a higher priced car.
But his income is unstable currently 🤣🤣🤣🤣🤣🤣
I have an 2001 f350 crewcab duallie . Pulled into Homedepot and parked next to an F450 crewcab duallie platinum. Asked the guy what a new truck like that costs ....$110K ! Looks like it’s an oil change and 6 new tires ... drive it till it DIES!
I've been saying this for ten months! Record unemployment and all I see is brand new pickup trucks roaming the streets!
Absolutely crazy. Even the cars lined up in food lines . Most of them are nicer than the car I drive and Im financially secure!
@@dakotadak100 YOLO! Spend that money and then vote Democrat for some of that good free money.
Right!?! I have seen more new cars driving around lately than ever before and yet so many people are on unemployment.... I guess that free money 🤑 is helping them out. Easy come, easy go.
I noticed a lot more dealer tags floating around as well.
I work in the auto industry. The only reason we aren't working 8 days a week is they haven't figured out how to fit that extra production day in.
It’s probably a good idea to ask these questions before buying a $69k truck. Lol makes me laugh everytime.
Maybe they should have a 48-hour waiting period.
@@c103110a Well, dealership’s wouldn’t want that because their job is to get you signed up for 36-60 months worth of payments. It’s all a big game to them & it’s how they make their money. It makes me sick....
The truck got him the girl
😂
And hes about to lose her because of the truck lol
Great point!
The girl will take the truck
“Stupid tax” lol
These truck calls are a meme at this point.
They need their own channel
I am happy I was finally able to buy a new truck cash
hope it was a tacoma or tundra.
Hope it was a GMC Sierra Denali
Hope it was an F-150
Hope it was the Cybertruck!
Hope it was a diesel f250 platinum
The thought of buying a $69,000 truck makes my heart sick.
😂😂
If I save up and pay cash maybe.
Never on loan
Some people actually have money and enjoy spending it
@@zoobrizz must be millionaires if they can sleep at night paying for a 70k depreciating asset.
But but how can he be a real man 😱
I like fancy new trucks as much as the next guy but I like NOT working overtime even more which is why I have no problem walking away from the dealership.
Or HAVING to work instead of having the option to
You could spluge and rent one for a week if you can have a vacation. Full insurance (no co-pay) and at a time when you drive more than commute.
👍
A better question would be why does a truck cost $60k -$90k or more?
Simple supply and demand. People buy them, when a long time ago they were cheapest vehicle on the lot.......when nobody was buying them. Now they are luxury vehicles not used for work........the new status symbol.
Ok Mr Obvious. What’s your point?
@@zoobrizz that they're a ripoff.. they use to be like 40k for top of the line, now that's maybe the base
"Stop the Stupid". That ought to be on a t-shirt.
💯
I love you Dave for being straight up!
'i was in a long relationship, and I just got outta that'.
Makes it sound like he just got out of the clink.😂😂
LOL right
Probably pretty similar 😆
One of the reasons vehicles cost so much is that a modern vehicles are loaded with endless electronic and mechanical features. People think they are buying a Federation shuttlecraft when in reality they are buying Windows 95 and an endless parade of malfunctioning gadgets.
They're expensive because, they are all financed, allowing people to pay more for them! The same applies to houses. If everyone needed to put 20% down, and credit wasn't so easy, the prices would drop to affordable levels.
@@tompain2751 My 2005 explorer has a "fly by wire throttle body, with position sensor and mass flow sensor and a fully integrated ECM
to run it.
My 1972 has a carburetor, bimetallic choke, and a throttle cable.
Remember, "steer into the slide"
Not required anymore: wheel speed sensors and clockspring in the steering wheel
send different amounts of braking to each wheel.
What do you think is the COST to manufacture a $70K for a 2020 Ford F-250 4x4 Platinum Supercrew.
@@aolvaar8792 my 96 f250 powerstroke has throttle by wire also, the gas versions were still cable at the time
@@aolvaar8792 Approximately $20,000 gate price. That's a guess. The true price is a manufacturer's secret. As for the computer controlled junk, I'd rather be in control.
@@tompain2751 I'm thinking $35-40K,
My 1972 Chevy truck
Manual master brake cylinder
manual steering box
a choke
centrifugal/vacuum advanced distributor
mechanical fuel pump
carburetor
Instead a rechargeable hybrid that you put 5 gallons of gas in every 3 months,
As for being in control:
Hughes Avionics heads-up display
4 wheel electronic power distribution
Without computer controlled junk this would not be possible
150 Mph Luxury Autocross(4 wheel dirt)
Like, an Audi A8L W-12 Quattro
The demarcation line between buying and acquiring seems to be about $100,000.
100% lost money on that.
Cars value drop instantly
Danny, silly, cars/trucks value drops as your driving it off the lot bud
Alvaro Rangel yes “instantly” bud
You're handsome.. and totally correct 👌
There are some rare exceptions to that rule, but the people buy those kinds of vehicles probably don't listen to Dave lol.
Ok Mr Obvious 👍👍
I just love it whenever someone says something like "Oh I went through FPU" or "I'm a long time fan of your show", just to immediately say then went and did some "stupid" anyway.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing below the $100k mark and in the first 2 months, my portfolio was reading $234,800. Crazy right!, I decided to reinvest a huge percentage of my profit and it got more interesting.! For over a year we have been working together making consistent profit just bought my second home at the beginning of summer.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@BrandonIvan-c6e However, if you do not have access to a professional like SUZANNE GLADYS XANDER, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
@@LilyClark-g3q Oh I would love that. thank you.
@@BrandonIvan-c6e Suzanne Gladys Xander is her name .
Lookup with her name on the webpage.
He bought that truck to impress his construction friends. Same as the women who buy designer purses to one up one another.
That’s what insecure ignorant ppl do in general. Because they just don’t know any better
Which is dumb because most construction companies will give you a company truck so your personal vehicle will never be seen by them.
@@toddlehman1 Depends on the company, some company's will pay you like 1000$ a month to use your own vehicle. But if they are given a truck and still use their's, they're dumb
"Truck is just a symptom".. Hits hard every time I think about it..
I know a friend who bought a new car a few years ago; paid too much and financed over 8 years. Got tired of it and traded it in on a newer pickup. I did the math; he lost 11,000 on the car but insists he got a good deal on the truck. Keep in mind- this is a guy who is actually quite savvy when buying/selling guitars. You can’t fix people like that.
For $69,000 they all should be able to live in it 😂
😂😂
Im honestly just glad I found this channel before I actually have to be an adult and manage my finances.
No truck is worth 40k sorry its just not.
Yet, they keep trying to roll out new trucks every year starting at that price range.
I bought a 2014 F-150 Super Crew Cab 5.0L for $19K cash a year ago. It has zero rust, all maintenance kept up, only 80k miles on it and the other day I pulled out my neighbors 2021 fully loaded $80k GMC from the snow. Then I told him to get a real mans truck. Now he has buyers remorse and a huge monthly payment.
@@JifferRiffic No doubt, my comment was more about new trucks. There are plenty of affordable trucks on the used market, but people think they need everything new and the dealers make them pay for it. He's definitely got buyers remorse. 69k for a truck, especially a truck youre going to "use" is ridiculous
@@JifferRiffic I had a 79 Ford Truck that I paid $500 for with 300,000 miles on it, and funny thing is, I pulled a 2014 F-150 Super Cab 5.0L out of the snow awhile ago. He paid 19k for it lol. I think he has remorse now.
@@JifferRiffic debt aside, no Ford can compare to a Denali. The Denali is the rolls Royce of the truck world. I'm from Santa Monica, I know this inside and out
Our house cost $69k! Paid off in three years! Now we have a home that needs some paint and new carpet- otherwise warm and tight! I refuse to pay over $20k for a vehicle! Cash only!!
Where do you live for 60k LOL , the vacant houses in Baltimore ?
It takes a lot to admit our mistakes. It's a fairly big one but he'll recover
Not likely.
His life is a roller coaster being dictated by women.
God help him.
@@forrestputman7617 Nothing wrong with that aha. He just needs to focus and be a little more well thought out
@@forrestputman7617 you blame a woman for HIS stupid choice?
@@maryjane-vx4dd definitely a stupid decision and it's his issue. HIS problem is that he's not living a life of purpose and is letting/allowing other persons to sway his mind.
@@dayvidsdays5644 everything is with it. Otherwise, he wouldn't be calling Dave with this problem
Im on the toilet.
I am too
I just sold my fully loaded durango that i bought a year ago for 42k, i knew it was a dumb purchase after the 2nd payment. Im glad i got out of that, I wish this man can get that closure with this purchase.
I’ll bet you lost a large %
@@zoobrizz definitely, i paid a few thousands in "Stupid tax". Lol
Its ok. Everyone has to pay the stupid tax at some point. Those lessons with dollar signs sure do sting, don't they?
@@louib716 absolutely, but you know what they say....."If you gonna be dumb, you better be tough" lol
@@ClosedCasket5220 true, friend. Very true. Best of luck to you, fellow future millionaire.
Dave said you can Charter a jet cheaper for that price 😂😂😂
Most car accidents happen at the car dealership...
Does he know he could buy a used car with cash that does the same thing as the new truck? He just wanted the new truck to show off.
Yep and that wears off in just a few months. The only time a car is brand new is when you're in the dealership signing the paperwork and as soon as you're done and they hand you the keys it's now a used car.
Plus you could buy a used truck for a quarter of the amount, and replace/upgrade some components for a few thousand, and still have a fun yet affordable truck.
Ok mr Obvious
@@stephenshelton4267 Right. But you can only do that if someone else buys the truck new in the first place. The inventory of used cars in the U.S. is 100% dependent on the sale of new cars by dealers. If everyone takes your advice, then new car sales and the inventory of available used cars plummets, and the price of used cars skyrockets, which means people will end up paying a lot more than they are right now for something that isn't new and doesn't have the latest technology or safety features.
Can't have one without the other.
@@michaelanderson2881 but everyone won't take my advice. Most people can't resist their primal instinct to obtain fancy things ASAP.
He finished FPU and STILL purchased that truck?
He was also still in debt.
He got an F in the class
Why not look for a decent used truck instead of something costing you a debt approaching that of your mortgage??? Set a car budget, then shop!!!
Dude. Seriously. Like if youre gonna sign a 70k note, why not make it a 2 bedroom house outside of town and rent it out?? Youll be making MORE than the mortgage payments.... some people are so dumb
Yes should have found a 4 year old USED truck for 60k 👍👍
@@kylecrisman9230 lol. Probably true.
I was happy to buy a new to me car in cash this week.
Congrats
Congrats! What did you get?
@@TH-camUzername a smart car 😂
1:20 "but I can afford the payments right now" - LOL.
Its only $850 a month for the next 7 years...
Sell the girlfriend....I mean truck.
🤣😂
😂😂
Put the truck on eBay and the girlfriend on craigslist LOL
Ditch em both 😆
Dave ✂️ right through the BS.. I guess that's why there are others along with him, to control him going off 🤣
I love my truck. The main reason: it’s paid for 😎
the other reason: it’s a Tacoma 😂
Love Tacoma’s! I have one paid off since 2010. Still running like new.
My tacoma got stolen! 2002 v6 srl1
I’m not a fan of Toy trucks. But they do hold their value
@Brian J yeah, I understand what you’re saying and you’re not wrong. My savings rate is 80% and I invest everything. I feel like all things considered a 20k truck to help me flip houses isn’t doing too much harm!
Toyota’s hold their value extremely well. Purchased a 2003 4Runner for 5300 plus tax a year ago and have been very happy. Most importantly it’s not another payment on my plate
You bought a $69k truck on 95k income. I wonder what Dave's answer is going to be.
I honestly don't even know why this guy called in. He already knew what the answer was going to be before Dave even said a word.
My neighbor has done the exact same thing, bought a $70k Ram 4x4, and they live in the city in SoCa! He is not a contractor or rancher- he doesn’t even need a truck anymore than I do with my Subaru wagon. In fact he and his wife have barely worked or made much money for the entire year! We’ve paid off our house a few years ago, have reliable 16-20 y.o. cars and zero debt. They are barely making any money, have at least $700k mortgage and he goes out and buys a $70k truck to go fishing and camping with a few times a year. It’s crazy!
Yup, same neighbor with a camper but he probably makes decent money but I dont think the house is paid off
I have no debt and a net worth of about $6.5mil. I want to buy a new truck but can't see paying $69K! Obviously my brain is wired differently. I look at the future value of the money lost on any significant purchase which always makes me change my mind. $69K in 10 years could be worth another half million.
Dude knows the answer before he asks Dave.
First and foremost 69🤭 secondly if that truck was a little more expensive it'd be a house 😂
Nice
His truck payment is more than my mortgage payment
I know. I have a 75k jeep and I realized I could’ve bought a 250k house instead and still lived super comfortably. Guess I’ll stay at home for a bit longer ugh.
I was finally able to pay cash for my dream car. Used, but 70% less than new.. Hustle on everyone.. Hustle on!!!
It should be a crime to sell trucks with that price tag. Hope he gets rid of it. Best to him
The only reason they are that high is because people still buy them. There is a reason why trucks have the highest profit margins for American Manufacturers.
@@TheLivedeath Not necessarily. Another huge reason is huge financing windows like 84 months and dealers using their own banks like GM, etc. to make even more money on the interest over 84 months
I don’t care what you say. Ramsey is the blueprint it’s a simple system to follow that works. I slipped up this past year with no valid excuse but I’m on my way Dave!
Those of us who use our trucks to make a living can justify such a purchase... However, we typically stick to the base model (usually about 40-50 grand) not the fancy pants, top trim models. Those are for the big bosses that come to work in suits.
Imagine buying a truck and selling it for a 20k loss. Couldn't be me.
When I was his age I bought a new 2006 GMC K1500 Ext. cab pickup for about 1/3 the price with cash...I'm still driving it! Thanks to the ever rising cost of new trucks, mine has depreciated less than $100/month. These days I could buy his truck many, many times over with cash and I wouldn't dream of spending anywhere near this much on a depreciating "asset". I've seen far too many folks spend their way into financial disaster like this thinking that material possessions will make them happy when the reality is that the payments are making them miserable.
Yell at him Dave 🤣
In 2015, I paid cash for a 2011 3.5l ecoboost F150 with heavy duty tow package and a Tommygate lift and 140k miles. $10k - still driving it and 250k miles without any significant issues. Probably the best $ spent on a truck... Now I am not without sin, I own a Ferrari too.
Not a fan of the 3.5 eco. It’s definitely not a heavy duty except in name. I like how you threw out there. “I own a Ferrari”. Loser ☝️
LOL hater. So what's the problem with the ecoboost motor? It's plenty strong and it has no problem towing a 24 ft enclosed trailer at highway speeds 20 hours nonstop, even with a Ferrari in it. As equipped, it had the highest tow ratings from the factory that year for an F-150, at 11700 lbs.
Driving my reliable 2009 Toyota that I spend on average $50/month to maintain. Used all cash for Christmas and New Years. Made a point to pay off all January bills before the end of Dec. Starting the New Year off debt free and with no bills feels good!
Looking forward to picking up intensity on my mortgage and exploring different types of investment opportunities.
He knew. He absolutely knew. He definitely....KNEW!
Wow more than I paid for my house!...I’m ok with my shack I live in,..cause I’m debt free at 40..now it’s time to build my net worth👍🏽
His answer to getting out of a 9 year relationship was to go into a 7 year relationship with a truck payment.
He knew it was a bad decision because he didn’t tell his mentor until after he bought the truck. Always go with your gut, if you feel it’s not the right thing to do, don’t do it!
firmly into the 6 figure category now........ just bought my first vehicle that cost more than 22k.......... Life is about ratios people.
$69k. Must have been a loaded GMC Diseal, Deniali.
Dave says you can by new when you're a millionare.
The Dave Ramsey Show scam!!!
2 years ago I bought a 2 year old heavy duty truck with 12k miles for 50k. It now has almost 50k miles and according to kbb it's still worth 50k. It's made me a decent living on top of the payments, and it's retained almost all of its value. I use it for towing equipment and as a work truck.
Used truck prices are ridiculous, probably because most people that buy trucks don't really need trucks.
I recently paid off my 2010 F150 lariat.
That was one happy salesman the day he finished that sale. That boy was on cloud 9.
I bought a reconstruction Mazda three 3 years ago for 1200 bucks fixed it all up runs like a champ I also got a 66 Chevelle Super Sport priceless LOL
69k truck on 95k a year. 😵😬
This is common everywhere. I see loaded f150s, Rams and titans on the high ways. If the average income in the US is 59k. Tons of folks like him out there
@@Aznmf I know. I bought a new truck in 2019 at 0% financing, but still paid it off in 6 months. Had to finance for 6 months to get extra rebates and discounts (about $2k). Truck cost about 25% of my income. I’m self employed so I also get to write it off. I wish more people would listen to Dave’s main message “Debt is bad.”
@@ThePerkDaddy he had to get the truck the joneses have. Nissan sells frontiers(V6) at discounted prices. MRSP for a double cab is like 18k. Since he is in construction management, highly doubt he needs v8, towing and payload. Heck he could have gotten a Tacoma work truck for 25k...
Hopefully after taxes.
@@Aznmf you never buy a new “work” truck. Work=damage
I love watching Dave's face when people buy these expensive cars
You bought it for 69k now it’s worth 49k just by driving off the lot
BS. That’s not how trucks work
This guy is only 36...he'll bounce back!
Hopefully
Yup, just in time for the divorce! 😂
@@stephenshelton4267 doubt she'd marry him. As soon as she heard about the price she was probably rethinking the relationship
I spent 90 on a car I never drive and am debating selling it because i feel guilty from watching these lol
These trucks are everywhere and I sure do see them outside the cash express loan stores all the time
And I thought buying A 20k car was alot...jeez
That other dude don't know is name is always on point with the emotional part is he a psychologist.
Tries to soften the blow of breaking up from a 9 year relationship by buying a new truck. Epic fail. I was talking to a Real Estate Agent that said he had a Doctor client bidding on a house. Deal fell through (could no longer qualify) because he ran out and bought a Porsche because his girlfriend broke up with him. Stupid Tax indeed.
When Dave said “the truck was off the chain” 💀 😂
Just pay the truck off and drive it for 15 to 20 year. That is if you can make the payments.
Or, better idea, sell the truck and buy a nice one for half the price
Way to start off the New Year my goodness!!
Wife: Wow they got a big car
Me: and an even bigger debt
Just bought a good running 3/4 ton for $900!