car payments are crippling the middle class
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- เผยแพร่เมื่อ 21 ก.ย. 2024
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car payments are crippling the middle class
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MF Paul Walker..,! Dude, thought you were dead...? WTF!?! Just kidding. Or am I?
Are you going to be in Fast 12 or 17 or whatever?
Driving my 2008 Toyota 4 Runner with 112,000 miles. No plans to EVER get rid of it unless it's necessary. No car payments truly are a blessing...
112000 miles is barely broken in.
Driving my 1994 Toyota 4runner with 198000 miles. No plan to EVER get rid of it. It will not be necessary because when the 3.0 goes, the small block chevy goes in.
My 08 4Runner at 260k miles running strong. You got a lot of life left in yours still!
That thing will run forever. Team Toyota and Team Honda. 👍🏾
1999 Toyota 4Runner here, with 410,000 miles. Saving me big time!
The middle class is wrecking themselves trying to flaunt what they don’t have. I’ll stick with my 15k cars debt free.
Yea everyone wants a space ship 🚀 😂
Not all of us. My husband and I are middle class. Both vehicles paid off with no intention to purchase another one anytime soon. We also buy older cars, never new or even a few years old. We pay off the loans before they're due as well.
This how we plan to stay middle class for as long as possible.
@@smania7575 When you say you buy older cars, how old are you talking? We have two older cars with each over 150k miles so we've been building a fund to replace one when it eventually dies or costs significantly more to repair than the value of the car. We were looking at a 2021 Toyota for a replacement.
@@RyChOr2005 We don't buy anything newer than 5 years old. Where I live, the prices aren't that great of a deal until about 5 years old. Our last vehicle was 6 years old when we bought it and the other vehicle was 7 years old when we bought it. We also look for great deals if we can hold off on finding a vehicle and we were lucky enough to not have to rush on the last two vehicles and find great deals.
@@RyChOr2005 Nice.....go for it!! At the end of 2020 I got a brand new 2021 Toyota Corolla LE model and no regrets....car payment is LOW ($350.41/month) and it's super reliable. I had bad experiences with multiple used cars before (2002 Ford Escape 200K miles and 2006 Nissan Altima 100K miles), but in the future I don't plan to take on any car payments at all.
Team no car payment
Just got a 1995 Corolla under 100K miles....$1000 and a another beater I wanted to get rid of
@@PoorMansInvesting Great cars :)
2014 Honda still going strong 💪 bout to get it sprayed and retinted 😂
Hell yeah we’re here🕺🏾😊
💯
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
How can I reach this person?
''Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
I checked Aileen up out of curiosity and i must say i am impressed by her Credentials. i emailed her already, waiting on her response.
My house only cost $89,900!! Anyone paying something like that for a vehicle is out of their mind!, I purchased this house in 2005, 900 sq ft. I will never sell, it will be completely paid off in about two and a half years I will only be 51 and I will be completely debt free!!!
They have to look good at the stoplight
@@Drew-l3r And by the time they get to the other side of the intersection after the light turns green they will be forgotten about by the guy that could give a sh!t about what the other guy was driving. I would love to have a Toyota 4Runner, but will still drive my paid for 8 year old Toyota Corolla and pocket the gas and insurance savings.
@@Drew-l3r Im in my car 5% of my day, i cant imagine spending that much to show off
Exactly facts
You must live in Detroit certainly not LA
This is the recipe for becoming a greeter at Walmart when you're supposed to be retired.
Caleb hammer
The worse thing I seen is a fellow nurse in her 70s working full time and even matching my grind with the ot just cause she had so much debt but the worse she got sick and ended up been a patient at the nursing we used to work at like damn
The best car on the road is the one that’s paid off.
Say it louder for the people in the back!
@@EllysaE 👊😆
Agree.💯
I 100% totally agree .keep your older,paid off vehicle maintained and take care of.new vehicles are poor quality, grossly overpriced and let alone the cost to insure. Keep your older ones maintained and with liability insurance ,it's way cheaper
My paid off 2007 scion tC finally died and I was heartbroken. 😭 I tried to buy a certified used car and they were SO expensive. I ended up paying just a few thousand more for a brand new car. I definitely miss the days of no car payment.
$3000 in car payments, WTF!!!
It looks like she uses up at least a grand in cosmetics every month….
Damn, that's a mortgage.
And her veneers.
Yeah I’m not sure what it is about her face but it’s something innet
She's not complaining about the $3,000, she's bragging..... Lol imagine what the child support payments are going to be???? Their marriage won't last as long as the monthly payments!
So many people don't understand what you said in the comments. These people actually think having a big payment makes them look impressive. 😆
@@treasurethetime2463 LOL yes only a few will understand where I'm coming from.... I don't get it, I'm a baby boomer, the younger generation has everything at their fingertips and yet, well forgive me, some are as dumb as a box of rocks! I'll bet they spent more time on the internet researching the car options and colors, instead of researching the best investment portfolio to put their $3,000. Let this couple go flat broke, maybe it will humble them and they will realize that they were living a life of smoke and mirrors instead of someone young like JJ and his wife who are on the right path and investing in their future!
Exactly.
Facts. Tired of seeing her. She acts like she wants to be financially smart, she ain’t gonna change
Some people make more money because they are smart with their time, investments, and choices.....others are dumb with it and quickly departed from it lol.
Lots of moms driving around in $100k SUV’s and men driving around in 80-90k trucks, meanwhile they don’t even go to home depot . Owning a truck just for the sake of owning a truck.It’s mental
It is my biggest pet peeve. My parents had a dually F350 and hauled hay, horse feed, and a six horse trailer. They sold it when they no longer needed a working truck. Pavement princesses are mental.
My dad is a retired welder established himself. One day he argued"on this street we are the only ones that live by our own money. Your either broke on the system or broke living off of credit" Never understood that until I purchased my first car. Blessings 💜
People's egos are a lot bigger than their financial sense.
Trout mouth is so pathetic - she makes me gag!
The first women has to be flexing for TikTok.she had that goofy ass superficial smirk on her face.
All augmented.
I thought she just thought they were the victims. Like, can you believe that we ONLY paid down the principal a few thousand so far? Like, yeah, and they probably had late payments.
I have friends and relatives that have asked me to cosign vehicles for them. They want vehicles priced 60k, 70k including a friend that wanted me to cosign a 90k dually. No way will I ever cosign anything for anyone especially after hearing how much payments people are paying.
Bro… what?! 🤣. The fact they have the balls to ask you that is insane lol
If you need a co-sign, you can't afford it or deserve it.
Run from those people 😊
They ask because I have a 6-figure income and knowing them they wouldn't even pay the payments at all and just stick me with the bills.
What kind of friends do you have that would even ask. Just say no and don’t ever discuss what you have.
I drive a 2003 Toyota echo with 109k miles on it. I’m driving it till the wheels fall off.
Yes!!
I have a 2011 Prius with 160,000 on it. Same!!!
That's good milage for been 21 years old
That’s better than my car. I have a 2005 corolla with 219K miles on it. It’s still running fine.
Same with my 2018 Prius paid 35k for it in November it will be paid off but then again it will have been a great investment for transportation even cheaper than public transportation so car payments are not always shit!
Years ago my friend had a truck payment that he could not afford. He called the Dealer and turned the car in. It hurt his credit but he was able to breath again. He bought used car for $3k.
Painful lesson! Glad he learned from it
The vehicles that drive the best are the ones that are paid off!!!
It's absolutely so true, the ones that are paid off in general are older ones that have better built than new ones and more simple. Those kind of cars ,especially when they are maintained are the ones you keep.
@@DanGilliland-pi4vh💯
My father called folks like this house poor, car rich. This was 40 years ago. It's only gotten worse. I haven't had a car payment in 5 years. Two car household 2007 Compass and 2013 Camry. Less than 80k miles on each. My mortgage is less than these fools are paying for their cars.
Ever notice how the salesman demeanor changes when you say you don’t want the extended warranty? They go from all happy to butt hurt and then treat you like crap and rush you out the door! Happens every time.
Dealers are scum of the earth. Don't know how they do that job and sleep at night.
I have an ext plan on our financed car. What kills me is that I have a 4-year contract and each year they try to raise the premium. I ignore it and they do pay.
Literally going through this now and I’m in the process of buying a HONDA and it’s a 2016. Why tf would I even need an extended warranty on an ACCORD of that year in the first place. The sales lady was so rude but idc
Yes indeed. I had fun with the full the last time. Because he was like a petulant baby. And openly stated he wasn't making any money because I refused the extended warranty
@@ashaburrell2820I love getting those calls to sell me extended warranty.,I’ll say before I give the year of my vehicles …ur going to hang up on me in 5 seconds…I owns 1997 ford and a 2005 Chevy…they. Hang up before I finish saying 19 lol
Team No Car Payment, Team No House Payment, Team No Student Loan Payment and finally Team NO CREDIT CARD PAYMENTS!!! Team Retiring at 55!! New sub here!! Love the vids... JT
I’ll be finished with student debt in about 4 years. My mortgage technically 15, but planning for 8 to 10.
Also want to retire around the age of 55. Already working part time and have a years worth of salary in the bank.
I drive by a run-down apartment complex daily, and it baffles me to see Chargers, Tesla, huge trucks, and Lexus in the lot...
It's so silly to me.
A Lexus is cheaper long term than many vehicles. I bought mine used for $25k, doing great 10 years later.
I mean, if youre going to live in a dump, you might as well drive in luxury.🤷🏾♀️
welcome to merica, land of the broke pretenders. sell your future for some pleasue today! Financial discipline is to be avoided at all costs!
Why do people think exposing their ignorance is some sort of badge of honor? $3k in note payments? Give me a break.
I used to follow the crowd, making endless car payments on 3 cars. I sold all my cars and invested instead. In just 15 months, I saw $1M, the initial return. Prioritizing investments over depreciating assets transformed my trajectory.
to be realistic, Luck plays a significant role more-so than the resources to thrive with investing. without it, it's very challenging to succeed.
when it's consistent, it goes beyond luck. research was the challenge till it led to Emily Ava Milligan, a top fund manager, her strategy made 312k into this and counting
after I pasted her name into my browser, her page was the first thing I found. It became clear, she is in high demand. your example is rare. I wish i came across this earlier to reference. Thanks for the share
Mine mirrors yours. I'm on track again for 185 k return, working with Emily Ava Milligan sets a high bar. The results I get are apparent in no time.
But you're an internet SPAMMER. Sure. /s
Nah dude...these car payments are crazy...most of my necessity bills are about $1300 a month in total!!! That includes my rent,utilities,mine and my bfs cell phone,my moms cell phone,my car payment and groceries!!! All that is about $1300/month..these people paying that for one car bill...insane..
Everything is crippling the "middle class". Rent, medical, car payments, food, all the basic necessities! Even going out to eat is ridiculous! You can't do anything without it costing an arm and a leg!
False. Inflation is now about a percent below the AVERAGE since 1960.
And if you buy groceries and buy what's cheap, the prices aren't bad.
If you stupidly buy expensive fast food, that's on you, and it's bad for your health as a "bonus".
The middle class is crippling the middle class 😂
@@rogergeyer9851a percent below average after spiking 10-15%% for 3 years in a row
Between my wife and I, we are taking home around 18 grand a month after taxes and 401k contributions and have zero interest in getting a car payment of any kind. Hell, our mortgage is even paid off and I am dead set on investing as much as possible into appreciating assets (stocks, bonds, gold, mutual funds, etc.) to lock up financial security.
What do you do for a living???🤔🤔🤔
@@heartlessangel1460 I work in technology and my wife works in private equity. But don't be fooled, my job is always in flux, been laid off twice in the last 6 years. So that is why I am always saving and investing and never thinking my paycheck will go on forever.
If my husband and I brought home $18k/month, I'd be doing that too. We only bring home about $7500/month.
I'm single and take home $3,600 a month after taxes. I drive a 1979 El Camino.
that's fantastic, good for you
When I got my Corolla in 2019 I didn't have $11k cash to buy it but I could handle a $175 monthly car payment. Its been an extremely reliable car for me for almost 5 years now
Same here, i got a Corolla 2012 and my Monthly payment was 219.00 i could afford with no stress. I pay it off 2019..look brand new and works fantastic...only 40,000 on my car.
Car payments will always be the culprit. We drive a 2012 Honda and 2009 Acura with no payments. This allowed us to buy our 4th property outside of Charleston, SC in cash! We are the Millionaires next door - great book btw!
You cracked the code!
Now that the way to do it !!!
I have 2 rental properties $18,000 that I paid cash for. instead of putting the $ paying off a truck..so even though I have a $200 month truck payment.
I think I have the highest and best use of my money My net rent income covers my truck payment... And yes there are decent livable houses that you can buy in a number of different states that range between $18,000 /$25,000 OK.MO..IA
CNN Warranty covers SO WELL..info from my friend who owns an auto repair shop
This. Had to replace my 2002 Malibu last year and snagged a 2009 Toyota Corolla. Already paid off, that thing will last me another decade easily. (Not to mention car insurance on older cars like that is dirt cheap)
Stop buying vehicles you can’t afford
Exactly, don’t people want peace of mind? I couldn’t enjoy a car knowing I’m still owe. Never had a car payment in my life!
Yup, I was one of these people. Before i had a $1000 car payment on Toyota Highlander. Lost my job and just can’t afford it anymore. I just let they repossess it. Luckily my ex gave me his 2017 doge min caravan and it work good. Despite my son say it looks like cockroaches because of the antenna. I am so relief without even to think how am I gonna pay for that Highlander. Now saving money like JJ say put in high yield saving account just in case the car broke and need another car. Thank you JJ for these content!
Adage
The rich are consumed with assets
The poor are consumed with liabilities
I drove my wifes pontiac G6 for years! It was so reliable until the front suspension collapsed on me .. made the mistake of junking it and getting myself a new vehicle. Shouldve just fixed it. 🤦🏽
I had a 2008 Pontiac G6. It was a used Enterprise rental car. It was absolutely amazing as a car. After over 200k miles, the transmission was going and I drove 120miles everyday for work. I literally drove it till the proverbial wheels fell off. I traded it at a dealership cause I needed the down payment. But I wish i could have kept it and fixed it. It was an amazing car. Interior flawless still.
Suspension are super expensive though and often a mechanic would call it a ride off so you may have made the right decision
With regards to those excessive monthly vehicle payments...a fool is born every minute.
😂
😂😂😂😂
Hi from Europe. I found the sweetspot between new and low maintenance at 3 years old cars. Bought a 2013 VW in 2016 and still driving it. I had the same car as business car with 0 miles 2013 for 3 years and was not much difference indeed. Until today no accident, no repair. What a blessing. Paid in cash back then.
Same as me 2012 mondeo in 2015 for 1/3 new cost. Still have it and plan to for at least another 5 years
Team no car payment. My 2010 nissan versa has been paid off since I drove her off the lot in 2019. She's allowed me to pay off 95% of my student loans over the past 4 years, and im on track to pay off the remaining $3k by the end of July. She has power windows, power locks, ac, and a cd player😜. She runs great at 168k miles with regular maintenance. She did, however, spit the driver's side door handle into my hand the other day, so Im coordinating with handy family members to get her fixed here soon, but the other 3 door handles operate just fine 😅.
You could buy a whole car with 1400-1600 🤡🤡🤡🤡🤡🤡
I’m 51. I’ve never had a car payment bc I although I love new cars , they are a money pit. When I buy cars I lowball cash offer the seller until I find a seller willing to take a huge discount. I’ve literally bought cars for cash , driven them for 2-4 years and sell them for what I paid for them or more. One car I bought at a yard sale, put 100k miles on it and sold it for double what I paid. Car payments are STUPID
Where do you live to buy car at yard sale?
Sucks for who bought your trash 😂
I had payments for 4 years @ 600 but now I still budget that much for maintenance on the truck. Young people should think about their whole life ahead of driving - going to be extra pricey!
“I turned 21 and wanted to buy myself a Tesla”
How do you even address this level of thought?! She mentioned not knowing about gap insurance because it was her first big purchase “on her own” but there had to be someone around her that said it wasn’t a good idea but she ignored it.
I'm proud to say that I still drive my 2005 Yukon that I bought back in 2005 & still have less than 150k in mileage. My house note is less than what they are paying for car payments.
Same here friend, house paid and I drive a 2005 Subaru... Cheap registration and insurance is like gold
What's the monthly payment on her lip fillers? 😂
😂
Lol
She could afford her payments if she skipped on the botox.
🫢
To the couple that are making combined $3,000/month car payment, I'm curious what their 401K contributions are. I'm going to guess that its not that much.
Because the 401k is the barometer for sound money decisions?
If any..
Broke. In debt like almost everyone in America. Zero financial sense. Zero
@@jacobstrouble6631It kind of is, unless you want to work until you’re 75. It’s tax free contributions, so if you’re not maximizing it, you’re literally giving money away in matched employer contributions and taxes to the gov’t.
Even if she lets them go into repo she will still have to pay the difference between what the bank sells the car for and the price she financed it for. 😮
They will probably add a bankruptcy on top of it all.
I bought a new 26k 2024 Toyota Corolla hybrid in April. . It'll be paid off by November. I have six payments left 😀😀.
I saved up for part of it and I'm making 2K a month payments for 6 months to pay off the rest.
Current balance is 15K.
I live ridiculously below my means.
Smart! Toyota and Hondas last a long time. You’ll be driving that for years and debt free too👏🏾👏🏾
2K a month for a car payment on top of all of your other bills? I drive a 1979 El Camino. 😂
Difference is you can afford it, and you only gave the bank free money for 6 months. If it was someone struggling to make ends meet, I would never recommend they buy a new car. And personally, unless I had more money than I knew what to do with, I wouldn't spend more than 5-10k on one. They're just a depreciating asset and not worth how much they cost IMO.
Social media is driving these bad decisions. People want to look like the influencers life style
Those lip injections are probably not cheep either.
Oh yes.
Usually I’m against extended warranties, but the one we got for my son’s 2019 Silverado (he’s paying the notes) has been a blessing. A year ago cams and lifters had to be replaced, $8000. 2 months ago transmission was replaced, $9000. He paid around $2500 for the initial warranty and $400 total for deductible. I’m still not a fan of them, because I know how they make money. But in our case it worked out
If you can put 7k into a used car and get 3 years out of it, it's essentially like paying $200 a month for a car. No idea why more people dont do this when they're only making 40-50k a year
We paid 77,000 for a house in 2009😂wow times have changed
They definitely have 😂
Your equity is beautiful!! 💯
It's funny because my old 82 chevy that I restored gets way more attention than almost anything new. No one notices another tahoe or new pickup, but my forty two year old pickup is a head turner.
The rarer it is the more attention
Why not buy a used Toyota Corolla with cash - if your friends like you for your wheels - find new friends. People are broke because they got sucked into consumerism
I bought a brand new car last year I'm doing everything I can to pay it off early 700 dollar payments killing me it's my own fault
Take the hit and sell it to Carmax, and then go get a used car. I did that 10 years ago and I didn't regret it.
Yikes 🫣
If you buy 2-4 years old. You can pick up nice lease returns with 30k miles. That are still under warranty and in perfect shape. Save 30-50% of the MSRP from new.
Once you get it paid off. Keep putting the $700/ month in a high interest savings or money market. Mine is paying 5.4%
In 5 years you'll have $47k saved. The car fund makes a great emergency fund too.
I can trade your car for my 1979 El Camino but the A/C doesn't work, it has an oil leak, the driver's side mirror is very loose, the turn signals don't work properly, and the interior needs restoration. Other than that, it's a good car. 😂
Sell it and buy a used Toyota. Your drowning in financial debt. What if you lose your job? THEN WHAT? Get out while your credit still good DONT WAIT
My transmission went out on my Nissan, which was paid off. It was not worth putting a new one in ( transmission cost more than what the car is worth). We started putting $ up a for car fund years ago. Went to the dealer (Honda) and told them not to waste my time, I don’t need to drive it cause this is the car I want. I told them what I wanted to pay for it , said no to all those ridiculous extra warranties ( I have car insurance and it’s new duh). They were trying to sell me by lowering my car payment and extending the loan 7 years. I told them I didn’t care about the car note just wanted to get the total price of the car. They looked at me dumbfounded when I wrote a check for the total price of the car ( missed out on the interest too🤓). No car payments cause I had already saved up for it. It drives nice too and I will drive it until the wheels fall off. I wasn’t interested in a used car because some of them are just as high as the new. We are completely debt free ( mortgage as well). I am 51, married 26 years with 3 children. Yes, it can be done
I did the same !
I wont even take a loan out for a house much less a car. Dad taught me to buy everything in cash including homes and cars just like he did. This may or may not be the best way for everyone but its nice to never have debt I just had to suffer for yrs while I saved.
My wife drives a company car and my dodge has been paid off since 2018 with a combined insurance bill of less than $200 a month with GOOD CREDIT. These people are beyond my understanding.
You’re talking about hindering freedom due to car payments. These are the type of people to slap that vacation on a credit card with 30% interest. “Because they deserve it”
What’s sad is that the middle class complains about the economy while making poor financial choices.
This is so helpful at convincing me out of wanting a new car. I'm 33 and I myself have never had a car payment (thanks Mom & Dad) my husband did have one when we got married and we paid it off 7 years ago. We've both had the same cars for 13 years and we're approaching that point where we've been seriously thinking about buying a new car. It's been lovely not having car payment and we really don't want one. We love traveling too much 😅
$700+ payment/month is insanity to me.
Cars owned:
2010 Chevy Malibu LTZ (it's rusting 😭)
2010 Honda Accord
We have 3 children. We gifted our older two new cars when they graduated high school (paid off cars too). Of course this was in 2017 and 2020 when the car prices hadn’t inflated. The oldest one was hit and his car was totaled. The value of the car was worth more than what we paid for it. He was able to get a brand new car and had $200 left over. I told both of them to take care of their car and drive those cars until the wheels fall off cause the next one is on them. We have one left that graduates 2027 and we will do the same for her (debt free too). The older two so far have graduated from college (2024 MA and the other BA 2024 and pursing a MA). Debt free college degrees to through scholarships and money that we invested for their schooling. One more to go and we retire when she graduates high school. I’m 51
@@Nisa-gm5wg Woot woot! So inspirational. Your kids are so lucky to have you. We have a 10 year old & we definitely want to make sure he's prepared as he gets older.
@@lauravterrazas we also gifted our two older kids cars when they graduated high school (debt free) and started college funds when they were 9, 7 and newborn (2009 when we started, $800 a month between the three of them). We stopped contributing to the older two when they graduated high school (2017 and 2020) and we no longer contribute to the last one (stopped 2022). Total money we put in was 89k and that money grew to 193k between the three of them. The older two did receive partial scholarships. We have a like over 90 k left for the last one. That is the benefit of not having a car payment. We are completely debt free too (mortgage included). Wishing you and your family many blessings and much success!!!
I have 2019 Toyota Tacoma and 2020 Toyota Camry. Both under 50k in miles and paid off . Good for the next 10-15 yrs . Then I’ll buy my next in cash .
I love the ask your coworker what their car payment is too! Insanity! Smh!😮😊
Upgrading that old 10yr old car with a new headunit with AA/carplay & backup cam is the way to go. Best couple hundred I've put into the old girl lol
1.6M value of real estate & just closed on my 18th rental door. Can you guess what car I just purchase. 🥁🥁🥁… 2012 Honda Accord. 😎
Its been estimated that the average American from age 16 to 70 spends about $720,000 to have access to a car. Car payments, insurance, interest on the loan, gas, repairs, etc. Beyond ridiculous.
let me correct your video title "car payments are crippling people without brain, rightfully"
Toyota corolla is $23,000. Honda Civic is $25,000, Ford Escape is $29,000
even at 9% APR 60mo, two car totaling $50,000 would only cost $1,250 total/mo, or $625 each......
do not feel bad for them, they brought this on themselves
My truck only cost $1500.😂
Yes! 🤣
I got a 2018 Chevy Cruise, 2023 Hyundai Tucson $0 car payment.....and my home is paid off......0$ credit card.......it took alot of hard work, but its possible!
Nice
51 and completely debt free too. It’s very nice especially in the world we’re living in. Trying my best to get my kids to live this way as well. I keep a credit card but do not carry a balance ( just in case I need some credit, don’t believe I will need it though). We plan what we spend on it and pay it off within a few days monthly
"Chevrolet Cruze".
There is a middle road here though, I just bought Toyota Corolla, paid 70% cash, financed the other 30%. Its a hybrid so Im saving a lot on gas and since I live in Sweden the taxes are very low on hybrids. I'll also get 30% back on the cost of interest from the state. I could pay it all but it is simply more worth it for me to invest the 30% on the stock market. The car payment is 200 dollars per month total and it will be paid of in 5 years.
At least you paid it down. You have really thought this through 👏🏾👏🏾
I did have a car payment. It was during the first year of COVID. Paid it off in a year & a half.
My old car (~21 years old) had no camera, roll down windows, rust spots, etc but she drove until she legally wasn't allowed on the road anymore. 😂
I have zero regrets.
I don’t want to give up my current car because it HAS roll windows and is standard. Also driving til she dies because I want roll windows and standard.
I have a 2015 Toyota. Paid off. Going to drive it until the wheels fall out.
She most likely overpaid for Botox too!!
If the bank requires you to have full coverage insurance in order to give you a loan for your car, then that insurance should cover the balance of the loan at the time of the accident, regardless of the market value of the vehicle. Just more evidence that insurance is a scam.
My last car payment was about $211 per month, but fortunately that car has been paid off for well over a year now. I did recently have a headlight go out on the car. The headlight assembly itself burned out, not just the bulb and the car parts store wanted to charge me $250 for a new headlight assembly. However, I found one on eBay for under $60, then watched a couple of TH-cam videos showing me how to replace the headlight, and I was able to fix it myself. A minor repair, sure, but it still feels pretty good when you are able to do something like that yourself.
I have a used truck that is paid off that I use for hauling things, and I drive a 2013 Camry I bought used back and forth to work that was paid off in 2019. The Camry has 208000 miles on it and still looks and drives like new. I intend to drive it into the ground and if the engine fails before the body does I may put a new engine in it. A new short block for one of those is only $2500. I look at people with these new vehicles and I just think they are stupid for financially crippling themselves over a car to impress people whose options don’t matter.
💯 they go to work for the dealership 😊
I buy new and drive it for years. I don’t finance it either. I just saved up for it and got a great deal and wrote a check. The used cars lately are almost the same price as the new ones, just ridiculous. My last car had over 200k miles on it before it died. I drove it almost 15 years. That’s 15 years with no payments. I invested what would have been a car payment in my kids college fund for 12 of the 15 years too ( over 145k in that fund for two kids that have since graduated college debt free and have @25k left. They had some scholarship money too and I can withdraw that 25k tax free because of the scholarship money they received)
That Camry will last you FOREVER!!!! It’s a great car
You know what? I would love to have a Lexus ES 300h. But it's expensive. And I don't want payments. So yeah, I drive a Hyundai i30, but at least I can sleep well at night and not be stressed out when paying the bills. I will get the Lexus when I'll have more money :)
What is considered a “normal” car payment in the US, that’s not average and simply meant to be “good” or “decent”
Having a payment at 9% with a $300 a month payment had me at “not good”
Seeing an $800 is wildly insane
I drive a 2012 honda civic with 191k miles on it.. runs great.. saving me money
Honda Civics are the best cars.
My Father only purchases used vehicles. Always told me cars lose value once they are off the lot.
After listening to the lady with the 1100.00 a month 🤢car payment at 15%.... 🤢🤢and it’s just a X1 too.🤮 Imagine if she went for the X2 model? 🥴
They are living above their means...they are sick...all cars take you to the same destination. From one place to another.
We have a 2014 Forester and 2018 Outback. $0 car payments
The best car to drive is the one with no payments!
@@jjbucknerAnd that car being a 1979 El Camino. 😂
I have been a long haul truck driver for 10 years..just bought my own tractor..it was for 57,039..however, I paid in cash..interest rate is too damn high to finance anything right now.....
Why does it seem like shes bragging about how much she can afford in payments.
She seems like that type that goes to an overrated salt bae restaurant and spends 800$ simply to post all about it on FB and insta.
@@dbased1915 there really are people like that, huh. Social media ruined us.
Because she is....
Needs to be taught in schools. We take useless classes that don’t help but don’t help anyone understand financials. Should have a financial literacy class
Say what you want, life is about choices. You want a new, flashy or unique car, you pay the price. I have an 18yo Buick I bought for 2500.00 with 90,000 miles on it. New vehicles are for suckers. The Germans have a saying (and they LOVE cars): "We buy our cars for our neighbors."
Glad I’m seeing his before making a purchase on my used car. Made my decision much easier !
Nothing runs like a Honda. Drove an 09 a Honda Element until it had 535,000 miles on it. Albeit, it was a company vehicle. The company decided to no longer repair it when it crossed 500,000 miles. It was all because the idiots that did the last oil change put the plug back incorrectly. $1200 for a new oil pan and seals. The shop said besides that, the Element was in perfect shape. We still drive an 08 Honda Accord with the exact same engine with zero payments and great reliability! A Honda will out last most people’s desire to keep it because it’s not the latest tech and that’s sad.
That's my biggest fear with my hondas...them lasting too long!
My wife's 07 Toyota Highlander and my 09 Lexus RX350 both have about 150k on them. Both paid for and we maintain them on the spot, and repairs are rare. Should be the last cars we need to ever buy. We just pray no one hits us every time we go out, can't afford to get anything close to replacing them the way things are these days.
And thats why they will not ever be financially free
I drive a 2007 Ford Focus w/ 176,153 miles been paid off for over 6 or 7 years. Still going strong 💪
The worst auto accidents happen on the showroom floor and finance office.
It’s not the car payments. It’s the decisions.
Car payment hurts my soul!!!
I financed 90,000 on my condo. 83,000 now. My mortgage interest is 3.125. Payment is 564.00. My car loan is 342.00. 342.00, 5.9 internet. I paid 29,000 for my car, put 10,000 down. Financed 20,500. I’m paying extra principal now at 11,800 in 10 months.
NO CAR PAYMENT IS THE BEST! 😘
I bought my first brand new car unexpectedly in 2021 after a accident. I always bought a used car but imagine my surprise that I was able to find a new RAV4 Hybrid (the only RAV4 that was delivered in October in 2021) for 4,500 less than anything used on the dealership and locked it in for an interest rate at 1.5% with only a 2 week wait. I never thought that I'd ever buy a brand new car ever, but I ended up with a SUV that felt like it had every luxury I could imagine with a 39 miles/gallon. My family does a lot of mountain driving in the snow, so an AWD SUV was the smartest choice for my family.
I'm so blessed that I could throw down enough cash to afford a down payment, get a great loan (with less than 450 per month) and pay off extra on the principal.
I promise you, even if you plan on buying used cars- save up for your future cars replacement. You'll never know what sort of crazy loan offer this economy is going to throw your way!
Henry Ford made a fortune providing cheap transportation to the masses. Now with high employment and manufacturing costs, and govt mandates, the car companies are going to produce and sell less cars but sell them for higher prices. They will just wait all of us out until we have to get a new car.
The car industry also started the credit usury system.
Our values have TOTALLY CHANGED!! Keeping up with the “JONES” ?? We are worried how we look in other peoples eyes 👀
REALLY ???
As you said “Sacrifice requires TIME !!! LIVE WITHIN YOUR MEANS !!!!!
Sorry, but i dont feel bad for people who put themselves in stupid situations.
Your laughter talking about the insurance and the Tesla had me dyyyying at the gym 🤣🤣🤣🤣 I was laughing hysterically 🤣🤣🤣