Cars, Trucks, and Debt | Why it Never Ends
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- เผยแพร่เมื่อ 30 ก.ย. 2024
- This vlog style video discusses the rising cost of modern cars and trucks in America. Combined with vehicle loan defaults, student and credit card debt the fantasy of buying a new vehicle is only going to get harder. Worst yet as debt rises nothing is getting cheaper. Strap in and prepare to share your feedback and story.
Outro Music By: Alan Fowler Music
Re-watching in 2020 when all of the major auto manufacturers are advertising 84 month loans like it's normal
I expect soon they'll stop talking about financing and will call them mortgages.
in some ( poor ) country's its was always like that , people can afford onky$1000 scooters , soon in USA...
The typical "what can you afford monthly" bullshit is what's killing people. OTD price is what you need to look at.
Or they defer their payments. When it's done, you pay them back at a higher rate. What a scam.
Keep to the three year plan, 'cause after that period, things will go wrong.
Say thanks to the state and the credit expansion. Allow the state to increase debt cheaply (that citizens will repay) while inefficient companies (that can't increase salaries) survive while wasting our limited resources.
Credit expansion + regulation is the dead road for society and economy but paradise for the state
When you finally grow up - you start to respect the uncool corolla driver.
Sooo damn true
Excellent comment 👍
I’ve recommended them to many first time drivers
Sad but true
No, I don't.
It's about time some one said the obvious and had an honest conversation about this. Thank you.
Agreed!
There's a guy called dave ramsey who's been saying it for years
oh, please. He literally says in the video that alot of people are talking about it. Then next generation is being strangled, people seem like they can ignore it for some reason, its going to kill off humanity the pace we are going at.
I agree. But yeah, he is old :)...
I ramble a bit here and don't disagree with anyone but since we are all sharing: Goose is a gen xer, which generalising, and recently speaking, is the most trodden on unlucky generation to walk the western planet. I am borderline gen x millennial but thankfully I looked up to gen x role models and avoided the worst of all this PC / activist / entitled / identity fluid / unable to screw in a lightbulb millennial disease many ( NOT ALL OR EVEN MOST) seem to have been indoctrinated into. I may have missed being beaten up by teachers too ( yes that was normal and accepted just 45 years ago ) but I worked hard on a shit professional job I hated and carried that stove like grasshopper across the rice paper until I had the money to quit. And by God ( not religious) I will not trap myself in debt by buying some fancy car ( even though I admire them), or work a year of my life for one. For double the cost of a new car( say 50k) I can buy and let an apartment and have more financial security and 5k profit per year. In essence, i guess my point is, the less security people feel they have, the less they spend even if they do have the money.
Watching this in 2024. Still holds up.
More relevant than ever. Now you got people paying over 40 grand for a CAMRY. Wtf happened?! I went to a few dealers last week just out of curiosity, the prices will make you shit yourself. I’m talking damn near 50 grand for a RAV4. Guess I’ll stick to my little new edge Mustang until the wheels come off. And Stealerships wonder why cars sit in lots for months if not years now.
More than ever!
Sure does. I see some manufacturers like Jeep for instance advertising nice low payments of just $178/week to finance a new wrangler for 96 months. You know when manufacturers are advertising WEEKLY payments that things have gotten way out of hand.
The price of normal cars are so damn high right now. It almost makes it seem like the sports cars aren't that much anymore. Camry for $30-40k? Might as well buy a Mustang or Supra for $40-60k...
I didn't even realize this was old, prices seemed a little low but i didn't question.
It's crazy how we've gone from a few utility bills a month. To almost every product we have being a "service" with a recurring payment structure.
Such a trap.
Actually if car was sold as monthly subscription, the manufacturers will not make something that brokes down too fast. And you will get a new one when old fails completely.
Edward Newman Yeah, I don’t like that you really don’t own any of your games either, especially on Steam. Stupid DRM. At least Itch.io, GOG, and Humble Bundle exist
Cost of education and cost of living has increased while wages have stagnated, studies show millenials would spend just as much as previous generations if they could only afford to. Who can have a kid or buy a house if you're saddled with 60K in debt at 25? Well, so we rent, we pay per month for everything.
Today EVERYTHING is a subscription based = financial slavery. Example: $8/month for MUSIC. After 10 years you payed...$960 and you don't even OWN one CD with music. You cancel your subscription and you have nothing.
TH-cam premium being an example. Fuck that
The problem is the average person in Canada and USA think that financing a $65k car with a $40k salary is perfectly normal and fine
In second world like mine. Owning a car means 2 years salary
Watching Dave Ramsey was an eye opener
"0% interest 84 months" lol
Moist Chungus Agreed! I found him while struggling with a car payment and bit the bullet and sold the car. Reality is a hard pill to swallow, but getting rid of debt is liberating!
@@bradcomis1066 Good for you dude. Most people are unwilling to cut their losses and move on. Life is definitely better on the other side of the debt fence without a payment.
I like Mark sporting a Maserati cap while talking about car debt and cc payment default... 😉😁
a Miserablti-cap might have been more apt.
The cap was cheaper
well thats the point dummy. the Irony of it all.
The car industry is crying about the decline in sales, yet they are the ones pricing future buyers out of the motor vehicle market.
Manfred Smith lol
They probably have the worst depreciation of all the luxury cars. Probably a good example actually.
Cars are not investments -- they're the opposite of an investment.
cars can make you money if you have a business where you charge a mileage rate.
I think you mean a liability
The object is an asset. The debt on it is a liability.
@Ackj 375718 Yeah I've run the whole gamut of vehicle quality except super high end. I can't handle Toyota Tercel-like thin tin cans anymore. Not to drive any distance at least.
Eg I put 800 miles on my Buick Saturday and I needed every last bit of its comfort...and even it felt lacking starting about the 600 mile mark.
@Ackj 375718 I hear you. I was debating whether to just run my crew cab long bed dually for the trip but ultimately chose fuel mileage. 34mpg gas vs 17mpg diesel + DEF is $$$$$. 😬
My big thing is comfort and noise and less about safety though. I just can't take the beating since I have to do it all week long in a day cab semi.
I'm a car guy, but I'm also a realist. People in general spend WAY TOO MUCH on their car purchase. When friends tell me they leased their new luxury car or they bought that new car with 7yrs financing, that tells me immediately they bought far above their income level. If you cannot afford to pay a car off within the warranty limits, you cannot afford the car. That's a good rule of thumb. Too many people finance for 4yrs beyond the warranty limit, then end up stuck with a car payment AND having to make car repairs out of pocket. That's a sucky position to put yourself in. You can buy whatever you want, just don't screw yourself over having unrealistic expectations. For the love of God, don't buy a car above your means to impress others. You're setting yourself up for financial failure and no one gives a shit what you drive to begin with. There's always someone out there driving something nicer than your ride, so don't bother trying to be a showoff. No one likes a pretentious tool anyway.
palebeachbum yeah I never understood how people who make far less than me drive nicer cars than me and live in a nicer house than me. Though the reality is I’ve spent 45,000 in vehicle purchases in my life time, and i only had financing on one car in the 19 years since I got my license
I agree but maybe because I am getting older... or just have other priorities. I buy new but never beyond my means. I also used to be into modding but even that had taken a back seat these days. I love cars but there is way more to life than them
@@lazerusmfh debt up to their eyes is how they're doing it. A coworker friend bought a new car that was $10k less than her yearly income. 7yrs of payments. I told her she was crazy.
and a quick note for people just wanting a car for attention, I slapped an anime sticker on my car and I get plenty of honks and looks from people for just a $10 sticker. you don't need a $80K performance car for attention
@@cpufreak101 I have gotten more compliments in my nearly-stock Camaro than I ever did in my well-modified BMW... really depends where you live. That said it is sad some people buy cars for attention
not just cars now phones, house and rent all have raised while wages barely changed.
Greedy CEO's are keeping more and more of the company's profits to feed their glorified salaries and bonuses. welcome to corporate america...
You mean Politicans @@Darksyne
@@coopsnz1 No, corporations control politcians. Money, in the end, is what everything is about.
@@RealityIsTheNow load of left crap . Government pushes up bussiness costs is the real truth
cloud ix 💯 but the baby boomers say millennials are just cry babies when adjusted for inflation wages have barely increased for the normal working class yet houses have changed from 70k getting you a fixer upper in the 80s to 150k at least out here in az
Dave Ramsey show is like 90% people asking how to manage their budget after buying a $50,000 truck.
HeftyJo LOL so true. His first advice is always “SELL THE STUPID CAR!”
D. Utley yeah because it's the best advice. Lol.
Or a 50k student loan.... different scam, same target.
Best one I saw from him was a couple with almost a million dollars in student loan debts.
I bought my last car before I came to my senses, but the loan was 0% and I really liked the car so I just made myself pay it off. So liberating to have that payment gone while still having a car that runs and drives like new. Now, 11 years in, it's time to attack the 20k in student loans I still have...
BMW has left the chat
Sallie Mae has left the chat
Scotty Kilmer has joined the chat
Dave Ramsey has joined the chat
My 2 favorite fellas...lol
Mercedes Benz is boycotting the chat!
drx1 xym Range Rover has lost connection lol
Jim Jones exactly two completely different personalities preaching the same message basically lol
rev up your engines!
the best car to drive and own - is the one that is paid off
I've been saying that for years and now I have 4 running, insured cars.
All of my vehicles are paid off, and I only buy used. I believe in paying cash, on the other hand though, if you can get a bank loan for a used car at a 1-2% interest rate, I think it’d be better to do that and invest the money with higher returns.
@@gw1652 I bought a new focus 11 years ago and its still running great. I see no reason to upgrade it just keep it services and costs little to keep running.
@@danielthunder9876 My 2014 Focus was garbage with that DCT.
Great content/analysis from Savage Geese. I own a 2000 Toyota 4Runner that I bought used for $9000.00 It was a one owner vehicle from Glendale, CA with 125,000 miles. Fantastic vehicle: last year for a manual five speed and base 2.7L inline four. Love it!!! My other vehicle is a 1988 Porsche 911 Carrera Coupe with 80,000 miles...Just fabulous; goes without sayin;). Never bought a new car in my whole life. Newer vehicles are so big, ugly, mainly made of plastic and just too laden with tech that is wholly unnecessary...for the most part. I was looking at buying a 2004 Volvo R wagon (before I bought the 4Runner) with a 6 speed manual and the seller told me it needed new headlights that were something in the order of $900.00 a piece. This is the kind of engineering stupidity I can wholly do without. New vehicles are a financial sink hole!!!
The game was rigged from the start. The only winning move is not to play.
Facts!
Exactly.
Ive only taken one loan in my life. And its an $18,000 loan for my trade school.
I'll have it paid off in 5 years tops.
The winning move is voting Bernie Sanders.
@@Guerrilla727 😂😂😂😂 Man you should do standup. You'll have people dying with that joke.
Peter: Is that a War Games reference?
Lois: Might be.
Peter: You know War Games?
Lois: Yeah.
Peter: Still finding out new stuff about you.
Lois: That's the adventure.
Peter: There's a nerd in there.
Lois: Maybe there is.
Peter: I might bang her later.
Lois: How about a nice game of chess?
Peter: I prefer banging.
Mr. Geese, this isn't political at all. It's common sense. Pretty refreshing these days.
Political doesn’t mean it’s not common sense
antoine gagnon true, but in the colloquial sense, when someone sheepishly approaches the topic of "politics", it usually refers to modern American partisanship and I really don't think the observations in the video even go there
Big Government cancer to Business costs , why cars cost more to build
Monsieur Geese?! 😂😂😂
You mean this isn't politically correct.
A mint condition Japanese Econobox gives me a deep sense of peace whenever I see one on the road.
Its world-wide problem, not just US. Too many people fall prey to bankers. I've bought my first car with financing. Overpaid quite a lot. Never again. Currently debt free and not buying anything I can't afford.
And it just gets more serious outside US. Cos, prices are still the same, and people usually make less money.
@@jakovd You'd be surprised how many countries have higher incomes than the US. The answer in Europe for most people is more driven by fuel prices. When diesel fuel is 6-7 bucks a gallon...you see a lot of small diesel hatchback cars. A lot of the problem in America is that fuel is so cheap that people are buying these idiotically huge trucks and SUV's....which are just idiotically expensive. All a big status symbol thing.
Not buying what you can't afford is the individual's responsibility. I'd rather live with the freedom to choose than live in a world where business and government is tasked with ensuring you do the right thing for yourself like a parent scolding a child.
There is a problem though, I agree. Financial education is key.
Fell prey to bankers? YOU signed the loan. YOU decided to buy a durable good that’s commonly known as a bad investment. YOU went to the bank asking for a loan. People need to stop playing the victim card.
@@z28kindaguy Easy to say until you NEED a car to get to work and drive your kids to school and whatever else. Join us in the real world, with real world problems, instead of living in your ideological safe space.
Which is why I buy used cars that have already been hit with depreciation.
Used cars are excellent but you also have used car problems. I have always done better buying a new bottom of the line Toyota or Honda and running it for 12 to 15 years 300,000 miles.
@@bennybenny3749 Most of my new cars go 6 to 10 years with nothing more than Oil, wipers, tires and spark plugs. Even the struts and belts hold out. It is cheaper for me to buy new. I have had $250 to $600 cars go 4 years 100,000 miles without any major problems. Only Toyotas.
this, I bought a 1998 lincoln mark viii last year with only 77k miles on it for 2800 bucks, the car still had the window sticker in the glove box, a shade under 40k dollars new.....
@@jlo82585 Good luck with that one. I would not have paid more than $1500 for that car. A 10-year-old Lincoln is worth whatever you can get for it.
At the end of the day you can make any car cool with a little money and a lot of swag 😎 you don’t need a new car ( aka computer with wheels )
Dude, you could dress up the presentation a little bit and present this at a college. This is really good.
I was making like.... 25k a year or something, and I bought a new 2016 Fieast ST. WORST MISTAKE OF MY LIFE SO FAR!!!! $330 a month for the next 8 years????? Wow..... About a year into it I was bored of the car, and I said screw it. I saved up 8 grand to pay off the depreciation and I sold the car. Biggest lesson of my life. I'm never buying a new car again.
A lesson I learned the same way. 23 years old, financed an almost new Cobalt SS. Grew bored of it and lost my ass on the sale.
your biggest mistake wasn’t getting a car that you were “bored” of.
It was financing a car for 8yrs, an asset that will depreciate in value.. Yet you continued to pay the price of old as if it never depreciated in the first place and sold for a giant loss.
Not to mention insurance.
The mistake wasn’t really in getting a new car, it was in you making poor financial decisions for your respective yearly gross income.
Not advocating for buying new, just saying if you have to pay a depreciating asset for longer than at MAX 4yrs, you probably can’t afford it & shouldn’t be financing anything regardless a vehicle new/used.
@@millennial_weeb2382 What are you being such a jerk for? All Chad did was share his story in the hope that his experience would help someone else avoid making the same mistake. Meanwhile he saved up 8 grand to get himself out of it. And you come in here telling him he made a poor financial decision, chose a bad car and got shit financing... as if he didn't already say that. I guarantee you've made plenty of poor choices too but you don't have the balls to admit it.
Arbitrary Alias The *adults are talking,* go into the living room with the other children.
Just sounds like you made a poor decision by not putting any money down and taking a horrible loan. Buying new isn’t the issue. Just gotta play it smart. You can’t afford something if you need 8 years to pay it off bud
I dunno $50,000 for a raptor might be a little steep but that grill with the giant plastic F O R D logo spelled out screams quality.
LOL, new cars look like they've spent the last 30 years on a couch eating pizza and chocolate. And the medical bills at the dealer when you need to change a bulb can verify that.
No it doesn't, its plastic.
@@aaronfrench8322 Sarcasm
@Anton Zuykov The raptor is quite the machine. That 50k goes a lot further than pretty much any other truck I can think of.
@@aaronfrench8322 r/wooooosh
Even the used car market is out of whack.
@Brock Obama idk about other areas but in Boise Craigslist is just as whack. $6000 for 05 Honda Element with +150k miles, private party. A stealership will tack $3000 - $5000 on that plus interst. And that's just the tip of the iceberg.
In Alaska it’s better to buy a new car than a 1-3 year old used car. Because they cost the same. Alaska is hard on cars, and the psychos out here are even harder on them. I wouldn’t touch these used cars with a 10ft pole for the prices they ask out here.
@Brock Obama lol you know nothing about the economy. There won't be a major recession in 2020. Maybe a slow down, but nothing big
@@Jeepingshort just like 2008 everything is great the economy is so strong!!!! Nothing can ever go wrong
Dr Potato I think the next recession will be huge. There’s a massive bubble in student loans because of government created loan inflation, just like the government created housing bubble. People are once again signing up for big mortgages and racking up lots of credit card debt as well. The construction of the house of cards is well under way and people should be bracing themselves.
Why buy a new car when you can just become a car reviewer and drive new cars every week 🤷🏼♂️
Edit: also really liking this vlog style of vids 👍🏻👍🏻
Hi Yuri!
You've cracked the code, Yuri!
Spot on
Savage
Or just get a Prowler, right Yuri?
This video aged well
Just recently sold my golf R to get out of debt. It was hard to truly enjoy the car since I realized majority of the time I'm sitting in traffic, payments, worrying about debts, chips, other driver so bought a old Honda pilot. What a relief!
But a used GTI. Way more enjoyment for the dollar.
If you can't afford the car and have debt then it is hard to enjoy. I have been there too.
Congratulations!
I just sold my house and moved in my girlfriends appartment. Used and payed for 2009 honda fd hatch type r.
I dont owe ANYTHING to anyone.
Spending so much time in traffic is the reason I bought a nicer car with extra features..
@@AaronEmeraldSo you got a loan for nicer car to drive to the job you have to pay that loan? Caught in the system is what i call that.
Damn good content. I keep wondering how long can this guy keep putting out unique and interesting content, without bowing down to a sponsor and thus having to couch his language.
I see the time and effort that goes into these videos and for that alone you got a subscriber.
nah. you just have to find the right sponsors man. i mean if RCR and his overwhelmingly bad (but amusing) fart jokes can find a few. he should be able to
TH-cam car channels have a CPM of around $7 (IRC, either DeMuro, Hoovies or one of the other YT auto guys was talking about this is a video - it's one of the highest paid content categories), so as long as his views are high, he can say whatever he wants and the dollars will keep rolling in.... Given is rolling 30 day views are currently around 1.8 million, I would say he's doing fine.
He's got a Patreon page where your can donate to help him keep producing quality content like this.
The brilliant irony of wearing a Maserati hat for this discussion lolol
A hat costs $10-20.
Igor Bukhantsov I’m sure OP understand that. It’s just a funny little thing to point out. Nothing against SavageGeese
together with the german luxury cars probably one of the fastest depriciating cars out there. 😆
Phone: Iphone8
Truck: 2010 f150
Me: Debt free and plan on keeping it that way.
Good job!
People that pay monthly’s to keep up with new stuff think others really care about how new their stuff are. Reality is, no one cares! Lol
Wise wise move.
i had an iphone 6 for 8 years until i lost it,, ,dam dam dam..
@@ginr67 the idea of buying a depreciating asset using money from the future scare the living shit out of me…
Haven't had a car payment in 40 years!
Just say no to debt slavery, especially with cars
@@kresnik_ss There still are a few, but you have to look. For example, A 2018 Honda Clarity Plugin with a $7k incentive from the manufacturer, $7500 tax rebate from Federal, and $3k tax refund from Maryland State ... Your talking about a very well equipped $34k plugin hybrid large sedan, for less than $20k net, including all the taxes and fees.
That why i move country...
@@mad0uche We as a society really do need to dial it back with calling so many unslavery things slavery. It rather diminishes how horrible slavery really is and can be.
I choose to walk into this new car dealership and I knowingly agreed to give them my money over x amount of time for a car I want to get new or slightly used. Vs. I thought I was going to America but I ended up in Saipan with my passport taken away. Thugs and gangsters threatening my health and life if I go to the authorities so I can stop being a sex slave. Comparable no.
@@Saxafruge Speaking of slavery, I've read that the cobalt mines (for the lithium-ion batteries) in Africa use child slave labor.
@@mad0uche LOL relax friend. "Debt Slavery" is in Encyclopedia Britannica, i didnt make it up myself. Cars can readily be had without debt, and cheaper to buy and cheaper to insure. And used cars dont lose value near as fast, so WIN-WIN-WIN
It’s true. Cars are too expensive. Even the used cars are getting really expensive.
Very excellent point. Buying used doesn’t save a whole lot of money and you add more uncertainty and risk. Buy new, buy smart, keep loooong.
yep, where I live my stepfather paid a grand for a literal rust bucket with a dying trans because "any car that passes inspecion is at least a grand". at one point in time you could get something in decent shape for $500. not anymore.
A decent used car 15-20 years ago was around $1000-$2000. Now it’s around $3500-$8000. At least cars are now safer and some require less maintenance. Another thing is the basic amenities in most cars were the luxury amenities of older cars.
In western Europe it is almost no point in buying a used car off warranty anymore.
Yeah, you have to negotiate real hard to get the good deals. If I buy a car, i look for something that is good enough taken care of and easy to fix, so GM cars pretty much. It also pays to inspect thouroghly and give the lowdown to the owner. The world is changing and the hustle is real. We're going to have to work hard for the good times now, and alot of people tend to give up before coming anywhere near. Crying over spilled milk wont fix anything.
That’s what happens when you don’t buy a ‘94 Celica.
rev up your car debt !
Ok Scotty Kilmer.
or a mechanic with a fancy scan tool and 50 years of experience
Isaiah Martinez aha Scotty 😂😂😂
Scotti is that you ?
You think it’s high now, wait till 2023 😂
Love the comment on the TH-camrs who are make buying McLarens and Ferraris look easy. What a joke
Seeing all the douchy Justin Beibers of the world driving supercars around turned my off from ever wanting one. I would be happy with a V8 Miata.
Fun to watch
Not fun to own.
@@dannyslea look up the hellcat Miata swap lol
@@Scorpion54092 YESSSSSS!!! Liked the owner when asked "Why?"... "Why not?""
i did a few short term rentals on one lamborghini gallardo spyder. that was plus some other test drives of corvette zo6, porsche 911s, dodge challenger scat pac, supercharged honda s2000, ect were enough to not need to "own" any of them, including the expense of "owning" them. I did have a mitsu EVO VIII pretty tuned for about 3yrs until engine faliure. prob the fastest I actually "owned".
I'm planning on buying a Ferrari F12, i currently work as the grill guy at Mcdonalds.... Pray for me pls.
May you flip hard and fast.
No sweat dude. If you make 8.5 USD/hr, you can pay it back in 2941 8 hour shift days or little over 8 years worth of pure work no holiday.
@@johnkim5125 Did you take into account taxes?
@@Pleasiotic1 No. He's gonna hustle hard and convince a private owner he will sell his soul for 8 years+ contract till it's paid down by watching all the most charismatic actors Hollywood has to provide from torrented movies.
@@Pleasiotic1 Flip Fast and Furious-like!
EVERY car on the road is a USED car
Very true man !!
Nice
Only difference is: how it is used and by who.
Not a new one on a transporter truck 🤷♂️🤣
@Steven Soco I buy new and I keep it for well over 10 years...the last one 15 years and it is now 20 years old and running like new with a friend of mine. I do my own maintenance which is the reason.
One solution: Stop going to college just to get a useless philosophy degree.
I drive past car dealership row that are full of new cars and wonder who the heck is buying all these?
I worked as a tech at a car dealer for several years. It was part of a network that had GM, Honda, a motorcycle store with like 6 brands they sold, and Chrysler, where I worked. At all of those dealers, the only truly common thread is that over half, maybe over 75% of owners of new vehicles, as in, still in warranty, are well over 40. Even Honda, traditionally the youthful car, y'know, Civics with coffee cans welded in place of a muffler are out of price range new for people under a certain age.
The Jeep Gladiator is roughly the same price as a Wrangler, and when I was working there as a 25-year-old, those cars were FAR outside my price range. They'd have to depreciate for a decade before I could think about buying, and by now, the tech is so outdated that I don't know if I'd want it.
Usa has become a borrowers joke land. I own 3 cars n a 17ft box truck. All paid for n within 16 yrs new. All work great with ac. Lol. I do all my mechanic work. Ive bought new in my younger days but life is too short to be slave to the lender n for an over inflated depreciating asset its really dum.
I was offered a job in cali...that was a joke offer to live in sodom n gomorrah..lol. Just health care alone can be 1300 a mo for a family...lol.
bumponlog - People who are asleep are the ones buying those new cars. Although “buying” is the wrong word because they don’t own anything. Ownership is everything however, and their creditors own those people.
@John Kugelfischer People used to say "Why pay more for a Toyota? It's not worth it, the reliability thing is just hype." But when I look at the actual prices, it's like $50,000 for a Dodge, $50,000 for a Jeep, $50,000 for a Toyota... OK, clearly the worth of the product has nothing to do with the price. The price is determined by 1 factor only; what monthly payments people can afford.
i worked at such places 10yrs ago & wondered same thing. & why they keep building that many if they just sit?
People are desperate not only to look good, but also to cut people off in traffic.
I''m from Europe and I wonder about this as well.
People buy powerful cars, that take a lot of money to fix if broken and drive most of the time in cities. You drive from red light to red light, constantly need to stop and start, I don't understand it. Or modifying your car(or buying new one), so it would be practically unable to go over speed bumps without scrapping or if it goes in a pothole and stays there.
Outside the city is understandable and as police don't do their job, you can use your car as intended - to go as fast as possible, but if the police are doing their job, it becomes meaningless as well.
Example: last year before I switched from the second hand Opel Corsa 1995, 1.5 diesel, 50 hp, I actually got through the entire city I live in faster, than a Ferrai that was weaving in and out of the traffic, going between lights in seconds and scrapping on at least 3 speed bumps. Don't get me wrong, I love looking at supercars and would love to drive one, but I don't see the appeal to do it on normal roads.
To be fair, if I owned a fast car, I’d probably be driving like a jackass lol
Some are solid enough to gain respect only by using ATTITUDE and NOTHING ELSE
😂🤣
I happen to do that a lot on the highway... Speed limit is 70 but asshats going 50mph
I’ll keep driving my 241k mile Honda Ridgeline and my 40 year-old Toyota Land Cruiser FJ40
Honda and Toyota, that's the way to go.
The "spec'd out" Ford Focus is in the 40's!!!!!! *A $40,000+ Ford Focus!!!*
Yup, its insane!
Didn’t make a DENT.
The Ford Focus RS is more of a midmarket sports car. It's competing for STI and Golf R money. A "regular" Focus is still like $25k. Even that is expensive, but it's sort of disingenuous the way you framed it.
yep.. yall can keep it.. I'm driving the 3k hooptie
@@burnout21 no it's not. Same deal with Raptors. At the end of the day it's an f150 with some expensive upgrades. The residuals nosedive on those things. The only thing disingenuous about this is the MSRP on the "spec'd out" Ford Focus. But what would I know. I've only been working in the automotive industry since 1997.
I'm still rocking my 2008 corolla and my galaxy s5 neo.
Galaxy s5 is the most realiable phone to have I missed mine
I gave my Brother the 2005 Corolla I used to have. With 240k miles and 3 accidents under its belt it still runs like a champ. I stupidly bought it fresh out of college and paid way too much (including the extended warranty, which of course it never needed), but at least it's keeping him from getting into a car loan now. I'd say drive it until the wheels fall off, but you probably won't live that long. I have an uncle still driving an '82 Corolla wagon, complete with the original AC charge.
@@jblyon2 I'm planning on driving it a long time! my previous car was a 2004 corolla that got rear ended but prior to that I had a mark 6 GTI, I loved that car but at the end of the day I got used to it. It was not feeling special to me anymore. So I sold it and bought the most boring yet most reliable car on the planet. The cost of running these things is a joke and that's why I love it. If I had to buy a second car it would be a brz tho
@@corruptqc8334 In the 5 years and 50k miles since I gave him the car it's needed starter contacts, a battery, and front brakes. All normal wear items. If I was smart I would have kept it! That said you'll have to pry the V6 in my 2015 Camry out of my cold, dead hands...
Amen, I still have my 2007 Altima and Google pixel 1
Very real video that almost nobody talks about. More “enthusiasts” need to pay attention here, particularly the young ones.
As a young enthusiast I know I will be basically relegated to 2k beaters if I want anything that's remotely affordable, and honestly I'm fine with that. Sure, stuff breaks but it's nothing the plentiful aftermarket, a service manual, and harbor freight can't fix. The future looks bleak, and I just hope I get a chance to appreciate the performance machines we have today before it gets here.
@@mattbuffo1177 in the same boat. sure I have dreams, but I also have to accept the reality of beater cars, and I'm glad I did. I see people my age going out buying brand new cars and getting overwhelmed with debt, and here I am having my beater paid in full
I'm 51 years old and I've never, ever brought a new car.
Jos Ron smart man. The only people who go to dealerships to buy cars and maintain them are sheep😂
WISE move.new car are somewhat of a money digger unlike early gen vehicles that are built to last.
I bought my first and only new one at nearly 60. Wishing I had bought a new car every 10 years since 20. Everything in moderation.
Braggart 😂🤣
@Ackj 375718 I know how to work on them. Buy cheap and make the minor repairs.
I only got to the 5 minutes mark before I had to stop and tell you I absolutely agree with everything. I'm a 21 year old aircraft mechanic, I graduated college in December with an associate's degree and as much as I wanted a new base model Alfa Romeo Giulia I've decided to keep my old but gold Suzuki Kizashi that I paid off and buy a used van for my secondary needs. I make more money than most people my age, but I absolutely cannot afford any new car either. It's ridiculous that people are throwing themselves into crazy debt just to keep up with the Joneses instead of finding something in reach they can accept and enjoy.
Every teenager needs to watch this before talking to parents about getting a driver's license.
Most parents are fucking idiots too.
@@wronggg Yes..... Yes they are.
Have you ever tried talking to a teen? BOTH parents need to stand united and say NO. Parents don't realize if their kid (under18) gets into an accident, and it exceeds their insurance limit, the parents can be sued and lose all their assets that they've worked so hard to get. No matter how much they whine and try to work one parent against the other, DON'T DO IT. Tell them to wait till they're 18 and responsible for their own debts.
The realest video about the state of affairs in the auto industry.
The cost of new vehicles is ridiculous.
People are getting poorer.
Besides cost fast cars no longer are usable anyway because big potholes can eat Pirelli tires like Jaws in the movies eating various movie actors🤔😳🙄😏
This is great young consumers are getting more financially educated.
Now all they need to do is go back and educate their parents.
More like forced into submission
They are just seeing through BS marketing. now if they could only grow a brain about social media companies.
"My father rode a camel, his father rode a camel, I drive a Mercedes, my son drives a Land Rover, his son will drive a Land Rover, but his granson will ride a camel"
Sheikh Rashid bin Saeed Al Maktoum
The circle of life!
This reminds me of an anecdote (conveying a somewhat different message) where someone started working for a Japanese tech company in the West and had to sell his own Mercedes and get a lower-prestige corporate car because Mercedes was reserved for management.
Inshallah! This is the UAE´s Evolution of transportation in 30 yrs from camel to Land Rover. I wish them the very best, hopefully they won't go back to camels again, they don't have cooled seats and there is now driving mode selector.
Ford: “Something for everyone”
-Makes ONE car
Whats the old Ford joke...Henry Ford said the customer could have any color he wanted as long as it was black
@@rudiekazu Black cars matter! ;-)
I've been binging this channel for the past couple of months because of how grounded to reality it is, and this video rings especially true right now. I grew up absolutely obsessed about cars, read about them in books, watched all of the reviews on tv and youtube, and played all of the videogames. I dreamt of owning a Mustang or a Corvette or multitudes of other performance cars. Its almost laughable to think about that these day. I recently graduated, landed a six figure job and don't have a ton of student debt and even with this buying a performance car or even just a new car in general is not financially justifiable for me if I intend on actually retiring or owning a home. I was looking at Supras and the dealer nearest to me is asking $10,000 on top of MSRP. There is no way I could even think about paying $1,000+ a month for six years on a car. I took a peak at ND Miatas and they start at over $30,000 and everything on the dealer lot is loaded up so they're closer to $40,000. 40k for a Miata. I remember over a decade ago when these types of cars where around $20,000.
It seems like the ship has sailed for attainable performance cars if you are in the younger generation and don't want to financially cripple yourself. I hope that I could one day afford one of these cars when I'm older and have more of my life sorted out, but for now I just have to put that thought to the back of my mind and watch from the sidelines.
I've decided that I will probably keep buying used and holding on to those vehicles as long as possible. Used sport cars used to be a risk with the possibility of expensive repairs out of warranty, now with the cost of cars now you will probably save more money in the long run buying used. There are still good vehicles around 30k and below brand new and with a long warranty if you are in the market for a small-midsize car and not a truck or suv like the majority of car buyers now. I dont see this current market being sustainable with car debt rising a more buyers losing money on loans that last 60-84 months.
agreed. i just graduated high school and am finding out my welding job i was pretty much promised can no longer come through. Im having to work a full time job at a detail shop making not even 30k a year. how on earth am i supposed to justify buying a car now that the cheapest USED cars are nearing 20k?!?!
I recently decided not to get a new car, and to keep my simple and functional 2007 civic dx.
I recently decided to buy a new car and keep my simple reliable 2001 Jeep Xj.
You should be fine for years as long as it’s manual transmission
lol i drive a 1999 Toyota Land Cruiser 105R its simple, functional, can still find spear parts, safe well for the driver the other car is most likely going to end up crushed, its safe when it comes to car vs animal kangaroos bounce off the bull-bar, you can legally drive 5 of you drunk friend home illegally you can fit more i managed to drive 7 drunk friends home.
lol i drive a 1999 Toyota Land Cruiser 105R its simple, functional, can still find spear parts, safe well for the driver the other car is most likely going to end up crushed, its safe when it comes to car vs animal kangaroos bounce off the bull-bar, you can legally drive 5 of you drunk friend home illegally you can fit more i managed to drive 7 drunk friends home.
@@fatboy19831 I can one-up you. 1993 Jeep J Z.
I am driving a 2003 Lesabre and first I wanted to get rid of it because of all the stuff that had to be fixed soon. Then I checked the prices for the parts plus labour and compared it to the payments for a decent new car... I fixed the car in about 3 new-car payments... 😁
Me between 22-25yrs of age: drove a 3000GT, Ls1 Camaro Z28, EcoBoost Mustang and a Challenger RT all right after college, two I owned and the other two were loans.
Me now at 30yrs old: drive a 2016 Corolla and a 2007 Explorer, both paid for in full.
As you age and start to think about the future you begin to realize that cars are a waste of money and literally hold you back from building wealth, I'm still a car guy at heart, i would love to own a sports car again one day but not until I have my house paid for, kids college fund going, fully funded Roth IRA, and have a 6 month emergency fund in a savings account, only then will I consider a sports car and if I do I'll purchase it in cash so more than likely itll be a older used sports car.
My advice for the younger car guys/gals is buy older cars in CASH and enjoy modifying/driving that. Doing this will get you into the car culture but won't deeply hurt yourself in the future. STAY AWAY FROM CAR LOANS, car loans is the ultimate wealth killer.
Good solid money advice 👏👏👏👍
When everything is paid back, and you have cash to buy sports car they will say you have midlife crysis :) :) :) I'm with you! :)
Doesn't getting old suck sometimes haha? Got rid of my f type r for the same reason
Boostang I admire you! I wanna be you when I grow up dude, I wanna share something, my grandma died and she left me 25k and I was 18 so I did what any smart teenager would do and I invested it, Jk I went and bought a used Jaguar XKR with 80,000 milles on it and it turned out exactly how you’d assume it did, I had to sell my dream car after the transmission went up and I couldn’t fix it, after that I bought a POS Toyota Avalon with 150,000 milles, I’ve had that car for 5 years and it has never ever had any issues whatsoever and I’m finally out of debt.
Ok boomer
100% this. Thanks for making this. I fell into this trap in my 20's, debt and cars and everything else. Now at 39, its cash purchase or no thanks. I can't imagine how car manufacturers are going to continue once the debt crash happens (again)
I honestly still can't fathom ever driving. It's like a slow poison
@@MaxRamos8 driving's fun man
they'll get bailed out....again...
@@dylanhughes5944 Yes but not commuting. That is an important difference. If people didn't needs cars for work or running errands; then things like minivans, vans, sedans and suvs wouldn't exist. Only trucks, RV, bikes, sport cars, & super cars would.
The cost of cars is insane. Being 21 working full time and living with my wife we have no debt our cost to live is still high just being young. Thinking about buying a new car is a joke. Insurance is Insane, the cost is insane. We plane on staying with the used car market. Especially Subaru, Toyota and Honda. They keep there value and last. These new SUVs are just too big and expensive.
Edit: Hey savage I’m always down to answer some questions about being a young person in this overly expensive world built on being ripped off and overly taxed as a young adult😉
When you see a new car is normal to want it, but believe me is not that spectacular, after a few months is old again and new models always coming so the new car is a normal used car very soon
Hey, I was there 10 years ago. It'll get better just hang in there and be smart with your money
You can still buy an interesting used car for decent money. You just need to be careful about what you buy. Make sure it is something that will hold its value, then take very good care of it.
Learn how to turn a wrench and never buy a new car.
Married at 21, shooo.
This should be required viewing for anybody looking to buy a car. "Lifestyle creep" and keeping up with the Jones is real, and also subconscious sometimes. My friend is very loose with money and bought a brand new fancy chevy truck, which made me want to go buy a BRZ. That's a luxury I don't need right now. Thanks savagegoose.
... Bummer. My 15yo vw mk4 gti, had since new, is making want to go buy a brz. Nothing really wrong with the vw other than 'old' and the passion is gone. Sure, there are things that need to be replaced as regular mx due to age, which is simple, but I just don't have the desire to keep moving fwd with the car. Miles are low for the age, but I think it is time to move on. Best of luck with your opportunities to get into a brz. Hopefully it will continue for a 2nd gen.
@@K03sport Yeah I'm looking for a decent used one, or a used mazda 3. I found a great deal on a place to live, so we'll see.
My sister's husband did that. He had a perfectly adequate and fully paid for truck from the early 00s but he wanted the bigger newer truck with the fancy wheels, big cab, and all the latest tech and trendy front grille because his work buddies had that. Now he's in debt and has a higher insurance premium, at least he knows not to complain after my Dad called him out on it.
@Brandon S Not really, I can do basic maintenance. I want to learn more though.
@@revolverocelot3290 I got a 2020 BRZ last year...wanted one since 2015...so I decided each yr to save a a few k$ for the deposit and got lucky financed the rest at 0.5% over 3 yrs...over those 5 yrs I was still able to grow my investments for retirement and enjoy sports and now car payments for the amount left keeps me in the same boat. The new brz/86 gen 2 is just coming out so you have a few yrs to save up if you still wish it...worst comes to worst and you change your mind you got extra money for your retirement etc;) Best of luck
When I was 18, I swore one day I’d buy a brand new M3 when I could afford it.
Now at 28, I can afford a brand new M3, but I swear I won’t buy it.
I’m married and have my first child on the way. I just don’t have the time to truly enjoy a car like that, nor do I want to place an unnecessary strain on my family’s finances.
As much as the car is still my dream, I can’t justify the cost, especially here in Australia where it’s taxed to the high heavens.
The cost of these cars is too high, even for those who can afford it.
Buy the one you dream of when you were young, an e36 or e92 I guess. They 3 time less money to a new one
@@robinmarples5198 they are arguably better looking too. Though being BMW, anything past the 90s is going to be complex, expensive to maintain and have "not-the-best" reliability.
Smart man. Don't know if you guys have Turo in Australia, but maybe rent a sports car for a day once a year..get some of that out of your system
@@robinmarples5198: Or an e46.
I only bought a new car once. A BMW. Regretted it so much. Yeah I enjoyed the car, but not worth the money. I cringe to think what i could have done with the cash instead. And instead of enjoying the car you worry too. What if I scuff the wheels? What if someone scratches it in the car park? What if its stolen? What if I burst a tyre - it'll cost hundreds to replace. Oh now the service is due and I gotta be ripped off at the dealer to keep my warranty.... true luxury is having a cheap car, bought and paid for and you dont care if it gets a dent in it!
I’m buying used, private sale, paying cash, for the rest of my life.
What one must never forget though is that used cars are cheaper for a very elementary reason: Because they will require higher service investments. Because they actually lost value compared to a new car. It's not an amazing bargain. (Thus it is appealing to people who can arrange service in a cheap way, who are alright with unspectacular service quality that matches the age of the car.)
@@Dowlphin Agreed. There is some value but the popularity of the used market has eaten up a lot of the efficiency. Used cars are still a better deal if you shop around but a well timed/negotiated new car isn't that much more when factoring in maintenance if you average cost over time. My cars have been new not because I avoid used cars but because the small premium to get the exact car that I want was worth it. My next car might very well be used. The important thing is to always explore your options and not live my rigid rules.
Yep. Depreciation is a massive cost.
What do you think of these Certified Pre-Owned Used Cars?
@@kjchicago1 if you are the type of person who wants a new car, I think these are the best alternative - they've taken a depreciation hit but are still almost new and have had a professional once-over to make sure everything is working. still really expensive compared to buying traditional "used"
you're a really good speaker. I'm wowed by the amount of effort you put into this.
We're in the everything bubble. Expect a serious crash in the next few years.
Do not confuse that with inflation...
Debt bubble in general, a whole lotta people depends on those payments being made.
The car and education bubbles are the worst of the bubbles.
I'll be waiting for houses to come back down to reality.
@@manniefresh730 we were forced to buy a new car after 5 years because the headgasket went and the engine was knocking, sometimes it isnt that simple, luckily my mom was smart enough to pay off the car when she sold the old house
We're entering the "everything bubble" -- houses are insanely priced, along with cars, education, and worst of all healthcare -- which is completely out of control. And the stock market is overpriced. Where are you going to save a dime? You can't.
They don't want you to. Who is they? Rich people through their company policies and control over politicians. People keep brushing it off, but no, that billionaire used resources and government grants to get their. They likely used family influence and wealth too. They don't deserve to have thousands to have thousands to have exponentially more money than you. They should pay their taxes and be properly regulated, not given free reign to fuck consumers and their employees.
It's always been hard. Talk to a boomer. Interest rates were like 18%. To buy a house they almost always expected %20 down. Now it's cars, healthcare, student loans etc.
@@gmjunky87 You are full of it. What you say sounds nice on the surface till you realize wages have frozen and have not at all adjusted for inflation.
Things are legitimately much harder to afford now. You cant sweep that under a rug.
@@BeefIngot I don't know what sector of the work force you're in but I drive truck. Have always made more money every year. Yeah I could afford an 80k vehicle but it's not what I need. I've always lived within my means. Saw many people around me succumb to the trappings of "I need to go to college for ..." End up with mountains of debt and wonder why they are where they are. If you're in a shitty situation change it. My parents kept Thier heads a float with 5 kids , a mortgage on a mechanics salary. They flipped houses , flipped cars all while there were sky high interest rates , etc. I've always had 10 k in the bank for whatever happens. I don't need a new phone, a 60 inch TV , the brand new everything.
Its the fiat currency
Watching in 2024: update: everything he predicted was right, it’s only gone downhill
Crystal ball
making me super depressed...talking about the life of a car lover
The "Car Free" kids of today are the Policymakers of tomorrow.
@Joe Deckwar We don't, they're the people who only take a necktie to their job (can hardly call it work) and therefore, "nobody needs a car, just take public transport."
Europe btw, so slightly different issues here. Car loans aren't as much a thing, but car taxation is getting insane.
Sales tax and CO2 tax (based on rated fuel economy, A $30k V8 car in the US is a $130k car here after tax.) on purchase.
Ownership tax (Monthly, based by vehicle weight, tripled for Diesel), a typical diesel pickup would cost up to $2500 a year in this category alone.
Gas tax ($8/gallon fuel prices),
Insurance tax, (mandatory 3rd party insurance, so the gov't gets a cut from that pie as well.)
Parking tax. To name a few.
And to top it off, they're banning and scrap-for-cash'ing 80's and 90's, and soon 00's cars. The ones that don't break down and don't cost an arm and a leg to buy or maintain. 70's and before are considered classic, newer cars are just considered 'old', and the gov't seems to be bent on making sure there's none left to ever become classics.
Turn main roads into 'city boulevards' (aka useless grass and concrete strips with no purpose) and cause citywide gridlock in an attempt to discourage cars and reduce emissions by just physically stopping the cars from getting to where they want to go. (Ignoring the part where idling cars and stop-and-go produce a lot more emissions than smooth traffic. After having it repeatedly pointed out and proven.)
Car enthousiasts here are a dying minority it seems.
You wish, but in reality it's the rich who become politicians and there's a whole lot of back scratching involved to get power. Then you have to account for the fact that by the time they are the age to vote, they are so inundated with misinformation making them vote on stupid one policy non issues like that make them hate their fellow peasant that you get more presidencies like trump
you make it sound like its our fault or like we are members of the political group you hate.
If they finally manage to shift the policies away from building more roads and selling more cars to encouraging mass transit systems, I say it's for the best
@@vadim6385 yeaaaaaa.. thats gonna be a no from me. Public transportation sucks.. plus Id rather not be relegated to staying local
Just bought a 2002 Lexus GS300. Love it do far. F you 2019!
your smartphone can do almost everything a modern infotainment can do anyway. other then driving aids obviously but if you take a little pride in your driving skill then you wont really need that fancy stuff like lane assist, crash sensors and similar things. just pay attention and know your car and situation and youll be safe. 🤷♂️
Lexus you just bought is solidly built car. I had friend who GS 300 over heated. Thought the motor was going to the junk yard. But the engine was still good! Replaced the radiator and he still drives it to this day!
2002 gang! I got my Jaguar XKR 2 months ago with 9,000 miles.
Wowza. When you finally find that one car that you really love, life is just amazing.
Lexus and Toyota are the best brands to buy used. My local Toyota service shop even tries to get used parts for my car for 1/3 the price of new ones. There's no way VW or Volvo would do that.
@@bighosre10 i did that to my 91 corolla, overheated the shit out. drove my self home in it, then replaced the radiator and drove it fine for two more years. that 4afe was powerless but very reliable and good on gas
This video needs a post covid follow-up
As an old guy (61) I agree with most of what you said, all that tech (I personally don't care about Infotainment) is going to break and its going to cost a fortune to fix. Give me an old low tech car for simplicity and low maintenance cost. And one more thing for the youngin's out there... Get off my lawn!!!
True. I'm about the same age and drive a 22 year old car. Been driving it for the last decade and it's been good to us. I don't drive a car for image or to keep up with the Jones... I drive simply for transportation.
Im half your age and I feel the same. I'm tired of this shitty tech that just dies within a couple of years only and is not even replacable.
You know, when I was a teenager I promised myself I would be that cool older guy that all the kids loved. Now, I can't stand teenagers or any kid for that matter. And I'm only 33.
Come on guys we dont have to tell all the numbers of our age! We re going to get ..expelled for life from youtube!
As another 61-year and self-described Technophile I have another perspective. My first new car was a 84 Rabbit GTI. I think 🤔 it was about 95 horses! I loved that car, but being young and dumb, I totaled it within a year. I went and bought the new and improved Golf GTI. I kept it for 10 years and swore I would never by another VW as it became a money 💵 pit after four years. The next vehicle 🚗 was a Civic Ex Coupe. There were no maintenance problems with it at all until I gave it to my stepson. For the past 12 years I have driven a 2007 Forester XT turbo. All of these cars were manual transmission! The point of this narrative is that when I become an empty-nester in a few years, I plan to get a “ semi hot-hatch” with a manual transmission with as much tech as possible! This will future proof my new vehicle for several years. By the time I reach my 70s, who knows? “Nuff said”!
In europe you can live without a car without problem. USA is different. Public transport barely works. Trams almost do not exist. Infrastructure has been built around cars. There is no escape.
Legit man, urban Sprawl kills people here on commutes. Waste of time. Would be cool if I could ride at least a scooter to work.
The U.S is slowly turning into a "shithole" (quotingone of the worst presidents in history). We don't even have a decent high speed rail system in place.
I wish i could do that where i live in Germany. Taking the bus and train i need over 1h plus a 15 min walk to get to my workplace....if the train isn't running late as usual.
With my car i need less than 15 minutes. It costs less in the long run than the ticket and i can go anywhere i want to go anytime without having to wait the 30 minute intervals.
That's why you have to be smart and own a 90's/00's civic/prius.
@@Guerrilla727 You misspelled best.
Glad someone is saying some truths about car ownership besides Sam Hyde and his buddy. Cars have gotten expensive as hell let along car ownership. I feel as if everyone is living off credit for everything and it's gonna bite a lot of people in the ass in the long run.
Even the country itself is living off a Chinese credit card and its going to be bad when it comes time to pay the piper.
@@williamdraken6018 Wait until you release China's whole economy is a giant scam. To avoid the recession, they just printed trillions of dollars. Only difference is they have a closed banking system and capital controls.
@@nick21614 I know. This compounds the danger even more. Whenever their house of cards collapses, ours will follow right behind.
True!!
As a kid under 20 years old, I found this really insightful and it got the gears turning. Love the channel and how down to earth it is .
I have a hard and fast rule when it comes to buying a new car - if I can't afford to pay it off in 36 months, then it's too expensive. This rule has worked out well over the years. I may buy my cars new, but I maintain them and keep them for 10+ years.
My new cars I always went in with the intention of paying them off early/as soon as possible. My first new car I was sending double payments whenever I could and paid it off in about 3 years instead of 5. My second new car, same thing, and paid it off in 3 years. My next car I will be looking to do the same and keeping it for as long at it will run.
then you need a better paying job. You buy a big purchase on what you can afford
If you can't buy it out right, you can't afford it.
In a perfect world, sure, we'd all pay cash for everything - cars, houses, student loans wouldn't exist, etc. More power to you if you can make that work. Most can't. It's all about managing your exposure to risk.
I have a similar rule which is if I can't pay cash for it, I'm not buying a new car at all (and even then, it doesn't mean I can't just buy used anyway). I think the biggest problem is that having a car loan is seen as perfectly normal. That may be normal but there's no reason you can't get a loan for a $15,000 car instead of a $40,000 car. Let the people that can afford it take the initial depreciation hit.
Granted, I only came up with this rule 16 years ago after I financed a new WRX and I've only bought one other car since then (a used Z4 three years ago) but maybe that illustrates another point- don't buy a different car every five years. Get one that you will commit to driving into the ground.
We should go back to basics. Infotainment should be after market where you can replace easily so the owner can keep pace with the technology. Safety can be standardized.
No way, infotainment is a basic human right. I want to be able to google pictures of horse dongs while driving 200 mph and I need my back camera to record me the accident I just caused when I skipped through a red robot so I can show it to my mates at the pub. That's the essential piece of kit.
Or cars that have replaceable drivetrain and powerplant
Honestly there should just be a slot for your phone with a bluetooth interface to the car and an app on your phone to use it.
Get rid of them altogether and just have a HUD unit
They used to do that! Remember in the 90's and 2000's cars how radios were? Single DIN or double DIN, you can make a 2 din stereo have as much functions or more as modern infotainment for cheaper! Car play/ Android auto included!
Unfortunately manufacturers later realized that this made their cars usable way past their technological expiration date and was abolished
Planned obsolescence is one the only ways manufacturers can make people walk out of their own cars since reliability is now commonplace
Modern western society is crazy about the idea of "total security".
For example: Children cannot go to school alone because every time something happens the media goes hysteric with the event and scares the hell out of parents.
Same for cars/driving: nobody wants to accept the risk any more.
People do not have to be better drivers, they just have to be pampered with more rigidity and safety systems.
This spiral leads to a two-class car owner society, where the high income classes have all the shiny tech spaceshuttles and less income folks have to drive around with used unsecure crap.
Or become indebted...
If everyone would drive more sensible and considerate, we would not need all the tech and there would still be less accidents and the cars much cheaper.
Another topic is the: "it has to be hughe to be a "real" car"-crazyness.
SUVs or trucks are not needed in that amount and smaller cars are just cheaper.
But there is a trick included: car companies outfit smaller cars less attractive to make people buy the bigger, more expensive vehicles.
I could also go on and on about certain points, but thanks a lot for bringing this topic up and setting high stakes for an intelligent discussion!
(Btw I am German, so my perspective is a bit different than the US point of view, also my English might include some errors, sorry for that!)
Scare tactics are a dumb easy way to push agendas on people.
Your English is better than most of the American population
I’d much rather drive my 97 Camry with money in the bank, then drive a bmw with no money .
Of course. I, too, would much rather be rich and healthy than poor and sick. 😉
Its not even BMW though is it? Look at what a modern Camry costs
I've spent thousands on tools and have always bought broken or wrecked cars and fix them and drive them for years. I am a certified TH-cam mechanic.
honchoryanc I love telling people I am a TH-cam mechanic too
Your Highly educate TH-cam mechanic 👍
👍👍👍👍
I can only speak of my own experience but less and less young people actually seem to care about cars. Most of the people I know and myself (who are in their twenties and thirties, so not even super young) drive relatively cheap cars, even though some of us make high 5- or even low 6-figures-salaries. Yet, we still drive around in simple Hyundais or Fords, because we simply don't care about performance or luxury cars. We tend to spend our money more on things like computers, consoles, phones and homes/rent. We also don't see cars as much as status symbols anymore, which I think is a good thing - we don't pressure ourselves or each other into buying some luxury car, just to be cool and appear "successful". If I wanna drive a McLaren, I just fire up my computer. I do still enjoy your reviews but not so much because of the cars, actually... ;)
All that being said, I think rising costs are a big factor, too. But it is especially housing and health insurance costs that are rising far more rapidly than general inflation... which means there's less money left for other things like cars.
I've always been more concerned with the fundamentals of the vehicle. Does it have a good engine and transmission? How much will it cost me to operate? I've been surprised by luxuries in vehicles before(most notably a 2006 Buick Lacrosse that managed to slip into my spare car budget)
And yet, im still somewhat proud i got the best car (performance wise) on the company parking lot :3
You don't love the thrill of bangin threw gears do you
Oh, do you read all the comments?!? Well, I was at the coffee shop on my laptop and I left you a scathing Yelp review! I'm takin' you DOWN Savagegeese!!!
I hate this savagegeese. Let's take him down!
What a waste of skin!
Is this the man you are leaving me for?
"I hate em, I hate em, i hate em"!. Love the outros with Toddd!
The industry-wide push to put so many crucial controls into infotainment systems that are obsolete and permanently buggy the day they roll out of the factory is the worst part of this mess (looking at you, VW...and every EV). If there's just one more federal regulation the auto industry needs its that all in-car infotainment systems should have modular screens that can be replaced on the fly with software that's OTA updatable with mandatory OEM support for at least 10 years...and then third-party accessibility from that point on.
I want a brand new version of my '85 Honda Accord. That would be amazing to me.
Honestly I wish car companies would just start producing cars from the 80s and 90s again. I would love to see “New” N/A Miatas and Skylines. But sadly that’s just fantasy land. People keep paying $750 a month for their Tahoe
There is one. The 2020 version. Because that's what you have to make to comply with regulations.
@@superfluous9726 yes. I know what you mean. How about this...I wish I could find a used one with 3 miles in perfect condition that was wrapped in bubble wrap and stored in a vacuum chamber. It was so fun to drive around town.
Aiden Brantley I see no point in non safety regulations. Many cars like the Honda CRX, Chevy Cobalt XFE, Toyota Corollas were very good on gas. Many cars in the 80s and 90s hit 40+ mpg and some even over 50+. Regulations have decreased reliability dramatically for no reason. The only viable regulations are safety to me. Not “emissions”.
@Chip LeVan Check out Twisted Land Rover in England. The dude literally has a shed full of about a hundred out of production Defenders with only delivery miles on them.
A correction is coming. The current conditions are not sustainible. We are very close to a two class society, the middle class has been bled dry and is almost gone.
A recent story in one of national newspapers stated " half of all Canadians close to bankruptcy".....probably similar in U.S.
Thanks to democratic socialst for that , they tax everyone else to hell to pay for lower class free shit , it isn't free for middle class and never has been down under
@@coopsnz1 nah fam its the cronyism up top thats the problem, i guarantee you that for every dollar to help the lower classes theres also a dollar stolen in some way. Look at the ridiculous bailouts of Bombardier then buying the pipeline and then all the shit with SNC Lavalin now. 20 billion in 2 years in just major cases, the other week Loblaws received 20 million to update their fridges so they consume less electricity, nothing to the people for the same thing. Also where are all those old fridges gonna go? They're just gonna cause more environmental damage
There are parallels in history for a society going down our path...you can go back to the French Revolution or if you want something more recent, try Germany in the mid 30's.
Dude, you deserve more subscribers. 6:20 lol 😂
Tim Franko He really does, I don’t know how he doesn’t have millions of subscribers. Way better than 90% of the other car reviewers.
I love some of the "rice rockets" like Toyota and Honda that I was taught to hate as a kid
Rules of car buying
1. Never buy new
2. Never buy new
3. See rules 1and 2
whitewolf323 I bought new but did my research. 2 year left over model, the dealer was needing to move it. OTD was the price for that model years used. I would have bought used though, had not been for that luck. Oh and bring your own financing.
Yeah spend thousands buying other people's problems! Yeah no thanks.
@@MrHasie Bring your own financing? Hopefully you mean bring your own cash, or get a "loan" from your friends who will charge you 0 interest.
Gorky D ideally yes, I’ll save you my story but the very low % offered was worth it and in my case it still was about the used car’s price over the course of the loan.If you have to get financing, bring your own.
I've been bicycle commuting for 20 years. I have been CAR-FREE for over a decade now. In that decade, I have ZERO DEBT & would guess I have saved *$15K* (on the lowest-end) to *$80K* (high-end). My savings account reflects closer to that high-end number.
WAY MORE PEOPLE DO THIS THAN YOU THINK!
How to Live a Car Free Life on a Bike
th-cam.com/video/fo2m0sndcjQ/w-d-xo.html
It's hard to add more when you have covered the topic so comprehensively, well done on yet another fantastic video.
I think it comes down to having realistic expectations and spending/living within your means. I think a lot of immature people get caught up in the new car craze and end up over their heads in debt,
This is an excellent channel. Production values are excellent, technical analysis is fairly deep and you cover some great topics, like this one.
I think all this tech is a major mistake. It’s unreliable, it’s driven costs through the roof and it’s removed any privacy. It’s also making roads more dangerous because people think they don’t have to pay attention because of the safety features.
education is free. College is expensive.
Elon Musk just exited the chatroom.
His cars are more like your smartphone and less like the tech monostrosities of legacy manufacturers. Less to go wrong, less maintenance. Considering the situation we're in, they are a move in the right direction.
The "special" financing programs for new cars every year is just one big negative equity rollover scheme.
It'll come home to roost eventually.
It may be here soon over covid19
This is one topic that has not aged like a bag of milk. It has become even more relevant in 2023.
Meanwhile, kids going into trade schools and living in small, rural towns are able to flex nuts on the "poor" city kids going to university.
If you make rational decisions and forego many of the modern luxuries (city living, university, etc.), you can do well. Don't buy into the economic despair.
That depends on the city of course, but that is true in general. I live in Wichita, KS, and I'm proud to say that it's actually quite cheap to live here.
i work for a lexus dealer as a lube tech ( one of 6 lexus technicians ) with my boss planning on sending me to school once the busy tire season is over but im looking at getting a mini cooper s because if work is paying for my school i have 3-4k in a resp i can use for a down payment or part of one. i know minis arent the most reliable depending on the year but if im working on it myslef and i work for the dealer network that owns the mini dealer id buy from i dont feel as bad. even then 2 of the guys i work with have been there for 15yrs, and one guy for 14 with the oldest being known as the guy in out shop who can fix anything. one of the 15yr guys own multiple properties that he either rents out or flips including an apartment building, the other guy whose been there for 15yrs runs a small farm where he raises animals to help feed his family but yet the guy who rents houses dailys an is300 and the other a corolla.
Umm...
- Unless you're sufficiently wealthy (6-figure salary or higher) always buy used. My truck retailed for $40k brand new. I bought it roughly 18 months old @ 20k miles for $22k.
- You do not need all the bells and whistles. Repeat that sentence at least six times.
- Gas once cost around $4/gal in places, not too long ago. IT will cost at least that much again. Do not forget that.
- If you cannot afford to pay it off in a 4-year note, DON'T FINANCE IT!
- If you cannot keep the payments down to less than 1/6th to 1/8th of your monthly income, DON'T FINANCE IT!
My last vehicle was a 2002 Chrysler T&C Minivan. It wasn't a chick-magnet, but my wife liked it... and I drove it fully paid-off for *years*, paying only liability insurance on it. I got to do a lot of cool stuff (including savings) with the money I wasn't blowing on a vehicle.
I've noticed that driving a practical automobile is a good way to attract the more family oriented females. As it turns out, those are the kinds almost guaranteed to grant you the favor of natural selection.
Shit 1/6 or 1/8 I was just freaking out at the fact that my car payments are now 10% of my take home
Moral of the story: Buy a good used Toyota!
*scotty Killmer sounds on the distance*
Yep, or maybe Lexus.
Yep, my dad's Toyota fx 1990's model lasted him more than 15 years. Still running but with less horse power.
2000 tundra with 215000 miles, starts up every time and gets the job done
Selling my 2016 Lexus GS350 with 38k miles bought it for 30k used 3 years ago and I’ll sell it for 25k now. Bought used with 20k miles
things have gotten much more fucked than how fucked they were 4 years ago, fuck
Do we know a vehicle is not an investment?
Do we know it is not an asset?
Do you know you don’t need ANY of that tech crap to get from A to B?
Did you know if you STOP buying, they lower the prices? They offer 0% financing. They might pay the sales tax?
What do you do?
Keep signing up.
Sweet Moses...
It's not an asset but it definitely is an investment. You're putting your money to hope to gain utility from it (ex: getting to your destination faster)
What a simpleton viewpoint that switches blame.
Striker 50 that’s a purchase. It’s not an investment, or at least a good one, if it’s gonna return maybe 50%
@@404nobrakes What's the fastest method of transportation for the average person? A car. Time saved is seen as value.
@pete smythThat would be going after things of value. People owe more on their cars than they're worth. That's not an asset.
I'm still driving my 2005 Silverado pickup truck and will do so until the wheels fall off. Then, I'll buy a used truck. I stupidly bought the truck new. Lesson learned. Never again.
escapefromobamastan luckily that beast will last you a loooong time!
A couple more yrs and the numbers make sense.
Not sure it's a mistake. You know that every oil change was done and you are keeping it a long time now.
@@GUITARTIME2024 Well actually you can do many engine overhauls for a price of new truck, so ,,you know oil was changed when you have it since brand new" it's not a good argument. If you buy used car that's rust free and is not from premium brand, you just need to find good mechanic and total costs will be much lower than buying new.
@@cytrynowy_melon6604 tomasz, in america we really dont do many overhauls.
I just bought a really nice 2013 Accord Coupe V6 manual a few months ago. I've got decent income, but there is now way I'd take on a $700/month car payment. BTW, I'm 47 and love your content!
This aged like fine fucking wine. It’s 1 trillion times worse in 2023!!!!
I'm 15. I've been watching channels like Vehicle Virgins and Street Speed and realized that they are utter garbage. It'll probably be another 30 years before I can look at a Vette with the intent to buy it. Same for any German Luxury car or Italian Sports car. I adore channels like yours that are true to cars for the people. People like you and The Straight Pipes really put it into perspective for me. I love your videos and your no-nonsense style.