Hidden Car Expenses Destroying Your Budget

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About this episode:
Riddle me this: How can the cost of cars be decreasing, but the overall cost of ownership is increasing? You’ll find out in today’s episode, plus get practical tips to save on auto expenses.
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Опубликовано:

30 сен 2024

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Комментарии : 114

@Jen-qd4qc Месяц назад

My car is getting older and my insurance keeps going up. 😡😡😡

@justindumond3281 Месяц назад

If you haven’t had any tickets, accidents or claims, you should call a few different companies and compare rates

@mattpenn3972 Месяц назад

85 sec of advertisements in 430 sec of video... 20% commercials. I'll compute again in two weeks, and if it doesn't drop then I remove the subscription!

@jimmylegs06 Месяц назад

Pay your car off Work from home Cheapest way to operate a car

@Mrkevi123 Месяц назад

DMV tags are $200 a year, and insurance is a mandatory scam of $100 per month. Then you pay for rhe required smog test scam $50 every 2 years. Then they tax you for selling your car that you paid taxes when you bought it in the first place

@eli-bt4he Месяц назад

The air conditioning one is more just outdated than it is a myth. Older vehicles (early 2000's and older) had less efficient a/c systems, and rolling down the windows had less of an effect on aerodynamics, since they weren't all that aerodynamic to begin with.

@bigcahuna42366 Месяц назад

Money wasters associated with cars: 1. Premium 93 octane gas (unless your vehicle requires it) 2. Rustproofing or ceramic coating your car particularly if you live in the south 3. Many third party warranties not issued through the manufacturer 4. Accepting a trade-in value at a dealership when purchasing a new car, especially if your car is older 5. Unnecessary services that have monthly cost (like wi-fi and navigation where applicable)

@BMoris95 Месяц назад

You obviously don't live in the rust belt. Applying fluid film will save your frame and underside of your vehicle. Good luck driving a car with a rusted out frame.

@techdeck82 Месяц назад

93 octane is good. It burns better. So your valves don't gunk up. Then your lose gas mileage overtime.

@mantonchannel6321 Месяц назад

I bought out my lease for my 2021 honda accord and it feels nice to not do payments anymore and the car is mine.

@bagenstb Месяц назад

2:48 I did not ever expect to hear Mario 64 music in one of your videos. Well done, editor!

@mkscott8259 Месяц назад

Car insurance! My sis was paying over $200/mo for one vehicle. I helped her haggle though she didn't want to change - but can't afford it. She told them we called 2 other companies and got $98 and $115. They dropped her price to $120/mo. Savings of $80! Every penny helps when that budget is tight! We pay under $600 for our 3 vehicles and 4 motorcycles. [yes, stupid debt on wheels, but I'm still crafting ways to slowly get my man on the Ramsey plan]!!

@sitiwrattz Месяц назад

If you had a man he’d sell his toys to be financially responsible. You have a boy.

@Krueger444 Месяц назад

The AC "myth" isn't entirely untrue, you need to weight the speed you're driving. The break-even in terms of gas mileage is about 35mph. Windows down around town, up all the way on the freeway.

@V8Brah Месяц назад

The problem is there's no perfect car in existence that maximizes reliability, performance, and affordability - and so people always have to make a tradeoff. A Porsche is a great performance car, but expensive. A BMW is pretty affordable and has good performance, but has terrible reliability. A Lexus has great reliability and is pretty affordable too, but doesn't handle as well as the Germans. Until such a car exists, poor people with nice performance cars will always stay poor.

@Painfulwhale360 Месяц назад

This is a PSA: Whatever your cars owners Manuel tells you how many miles for oil change intervals, do half that. So if your lil Nissan Altima says change your oil every 10,000miles, change it at 5,000 miles. Your engine will thank you.

@nickstark8479 Месяц назад

If it tells me to do it every 10K, I do it every 20K lol.

@yolopookie Месяц назад

This is what Big Oil wants you to think :)

@MeakH1 Месяц назад

Well it depends how you use your car. You have to do it more frequently if you travel more into town than traveling into the city. Mind you, you aren't wrong, I just wanted to add this.

@motoryzen Месяц назад

No that is a ridiculous Overkill overcompensation. I've always changed my engine oil according to the manufacturer suggestion and guess what those engines were still running like a champ either currently with my current vehicle that's almost 20 years old or the ones that I've sold the a private sale

@cherrypieforbreakfast1499 Месяц назад

Manuel and Jose both recommend!

@yolopookie Месяц назад

I don't think insurance shopping is much of a thing now. They all have insane prices, and a broker will also need to get paid for his services further increasing your costs.

@SliderFury1 Месяц назад

I went from Geico to Travelers. My premium for two vehicles is now less than half of what it was for one, and I have better coverage. Shop around.

@RupertMDoc Месяц назад

Rates are filed with state bureaus and generally can't be higher to pay commissions. Insurance companies just factor "acquisitions" costs in the rate and while they will prefer a direct sale, will still take the business provided by a broker, as customers who use brokers often buy more than just auto insurance. While rates are definitely up across the board due to increased labor and part costs increases, shopping around is still your best bet to find the lowest rate for you, with or without a broker. At the very least, get quotes from Progressive, State Farm, GEICO, and something more local.

@austinmiller8606 Месяц назад

Love the memes!! You and your team do such a great job blending them in! Great mix of show and memes.

@SalviAkshay Месяц назад

Kamel Kamel Kamel!!! Did you just say petrol, welcome to the East my friend!

@HeartDrivenFinance Месяц назад

It's so sad to see what you've turned into. The video was only 7 minutes long, and over half the time was shoving ads to us, random cutaway "funny" clips (that aren't funny), and pointless analogies.

@judyb6032 Месяц назад

I did try to get a $6000 car from a private lot. Ended up with a $9000 car from a dealership and me and my friend remain alive.

@ogjk Месяц назад

I have yet to be Impressed with by squatch sopas are deodorant. It's definitely not worth 2-3x more then most other products the quality isn't 2-3 times better.

@IXpressThruSaxophone Месяц назад

I bought my car for $2500 when I started my debt free journey 7 years ago. I have put 120k miles on her and only about $1500 into her over 7 years. It’s all about maintenance and car washes if you live in the rust belt. My income has over tripled to over $90,000. I’m about to pay $20,000 for my dream truck I’ve waited 10 years to buy. I’ll be able to sell this car to a first time driver and it will be a huge blessing to them. It will sell for what I paid for it. Guess where that moneys going….right into retirement. By the time I retire, that car will have earned me $40,000. Not counting the hundreds of thousands of dollars of income it allowed me to earn. This is how you do cars… Don’t by a turd. Keep in mind, any car mid 2010s and newer will be junk, and SIGNIFICANTLY more expensive to maintain and repair regardless of age. Used v8 engine for 2006 Silverado - $500 Used engine for 2010+ anything with the same mileage (100,000) - $3,500 Also shut up about gas. In the 12 years I’ve been driving, it’s averaged 3.50

@brianthomas3451 Месяц назад

Gas prices vary by location, so it can be pricey

@lovenature7823 Месяц назад

Looking great George. Yes, your hair style is coming back beautifully! You look masculine, well-groomed and elegantly casual, hard to pull-off, but you're a natural! This is one of my favorite video of yours because it's true, I compared my car insurance and found one that is less expensive! Thank you George for all you do, your good-natured humor, and "CQ" style, yes, I'm from NY and I speak directly, lol. Blessings!

@CelticsWin7 26 дней назад

I have a 2011 Chevy Impala I bought for $7000 "cash" and it runs great. Cars are money pits.

@davidhidalgo8465 Месяц назад

Maintaining your older car properly is a lot cheaper than getting into payments in this economy. Don’t cheap out

@Christarpher Месяц назад

Gas prices doubled in the last 4 years? My brother in Christ do you know what happened in 2020

@NANETTEMILLER-s8w Месяц назад

In indiana everyone trades theirs in goid luck finding a decent used one for 6000 your getting a rusty car with 275000 miles

@TheThreatenedSwan Месяц назад

That's a misleading stat though. It's like saying the total cost of vaccines is higher than ever even though the qualitt adjusted life years are increasing

@amireallythatgrumpy6508 Месяц назад

You people at Ramsey showed your contempt for your audience today with that moronic decision to only show the third hour of the Ramsey Show on the app. Why do you hate your audience?

@HeartDrivenFinance Месяц назад

The cutaway clips are the most annoying thing. I feel like someone is speaking to me like a baby with all the added stuff. You can keep a couple, but you use wayyy too many. Makes it impossible to listen to your videos.

@cherrypieforbreakfast1499 Месяц назад

Yeah, they're a little out of control, but kids these days only have about a 30 second attention span, so they're semi-necessary

@sitiwrattz Месяц назад

The red necks that love Dave aren’t going to like this thumbnail.

@emakoo01 Месяц назад

Hi George. Can you share your thoughts on whether it makes sense to ditch collision insurance and have liability only if you have an older paid off car? Thx :)

@OhYeaMista Месяц назад

If you can comfortably eat the value of the car if it gets totaled then yea cancel it. I have a $5000 car and it makes no sense to spend $1200 a year for collision because 3 years of premiums is getting close to the cost of the car. If it did end up totaled we can eat the $5000 if needed. On the other hand I have a paid off truck worth about $20,000 and I keep collision on that with a high deductible. Losing $20k in an accident would suck. So it really depends how much the car is worth and how much cash you have to cover a possible accident, because you’re basically insuring yourself at that point.

@ArchieJohnson5h Месяц назад

At 39 and recently laid off, I’m at a breaking point. With $425K saved for early retirement at 50, $10K in an HSA, and a property that could yield an additional $200K, what are my options for generating steady income?

@FreemanJameZ Месяц назад

It’s reasonable to consider getting a financial advisor now, but delaying retirement might be a wiser choice.

@ArchieJohnson5h Месяц назад

I’m unsure weather to fine another job or merge all my investment accounts into one. If I do, how should I handle it, and are there any potential drawbacks? I also plan to sell my property, which could add $200K over time. Should I consolidate my investments into a single account or spread them across various markets?

@RhysHuntoffice Месяц назад

These are key questions for a financial planner. I connected with mine at a summit, and with her help, my wife and I reallocated our 1.7M portfolio between a traditional IRA and brokerage account. She’s been managing the investment with our approval and has helped us recover twice our losses. Currently hodl’ing steady and cautiously navigating the market

@AdamWright8fool Месяц назад

That’s impressive! My portfolio has been struggling. Who is your advisor?

@RhysHuntoffice Месяц назад

Leah Foster Alderman. Look her up online, she's well-known.

@deckerlogan Месяц назад

2:51 I appreciate the Mario 64 music here!

@Arnold001-1 Месяц назад

These videos getting shorter and shorter. 4 min of content and 3 min of sponsor bs lol

@stuemler Месяц назад

Second

@theviskinsfan Месяц назад

Proud owner of a 1992 Ford Ranger here. It really is like your dad always said. They don't make them like they used to

@eagl3ye Месяц назад

I work for an insurance company. This is truth. Shop your rates as soon as you get your six or twelve month renewal offer and your rates have increased. You can even requote with your existing company and most often get a lower rate. I don’t think I’d go through a third party broker to shop multiple companies at once, though. Too much data mining for my taste - and insurance companies can and will ask for very sensitive info including your SSN that you’re first passing through the broker and onto multiple other companies. Just shop multiple quotes through the big ones online.

@joecool12 Месяц назад

I've been looking at cars for months now and that 2009 Honda Civic is still worth six grand somehow.

@soumyajeetchakrabarty6872 Месяц назад

This has been insightful

@ericew Месяц назад

2024 Tesla Model 3 was cheaper to insure than our 2017 Toyota Corolla. Turns out that collision is only a few hundred a month, the rest is liability for someone with no accident history and no claim history.

@suzukiman8964 Месяц назад

Thats what i did, not in tha way in 2014 i bough a 2013 mazda3 for 14k and just traded it in for a mazda cx5 preferred trim in cash too

@ChubbyBlumpkinz Месяц назад

Why did they change the thumbnail from a cybertruck to a Ford?

@rodrigomorenoluco Месяц назад

make a video of when to buy a new reliable used car after your previous reliable used car. Is there a time period to wait for, mileage, which factors you consider?

@anthrojim Месяц назад

Driving with cruise control seemed to reduce my MPG on a Prius Hybrid.

@nibekus Месяц назад

Typically Monday and Tuesday are the best days to fill gas and are at the cheapest. I make it a ritual to fill and top up my gas every Monday.

@567Kriss Месяц назад

Slight modification to the aerodynamics first air conditioning argument, the differences are negligible and it doesn't matter how you do it.

@cfrend Месяц назад

"How often to get oil changes" always change it every 3000 miles. The engine will pay you dividends by lasting years longer. The 10,000 mile oil change is a horrible trend.

@afcopwife Месяц назад

My husband swears by more frequent changes. We drive Toyotas and they recommend every 10k miles. He still sticks to 3-5k miles. Oil is cheaper than engine repairs!

@tubenachos Месяц назад

Of course it's the Cybertruck 😂😂😂

@christianbaer2897 Месяц назад

I can't turn off the AC in my car. I also cannot turn it on. I have none. Plain simple.

@Ryan.zelenski Месяц назад

Paid msrp in October 2021

@gingerfication3375 Месяц назад

I wrecked my car last year and wrecked all my saving possibilities on my insurance as well😢

@retnuh1262 Месяц назад

I ran this test on my tesla and the AC cost me more energy than having windows down.

@billnewell7786 Месяц назад

George forgot to say that having a good credit score saves you a lot on your car insurance.

@javieraguilar3477 Месяц назад

That Super Mario 64 song hit home....

@luisinhocasper6862 Месяц назад

This video has A LOT OF PAID AND UNPAID ADVERTISEMENTS…. Hopefully it doesn’t become the norm. I understand you have to make it profitable but it is falling into the “annoying category” which if you think about it, it’ll cause less views, therefore will be less profitable or unprofitable.

@reginahernandez7810 Месяц назад

HOW MUCH IN 2017 WHEN YOU BROUGHT?

@caracal9458 Месяц назад

This is really just an informercial. Also the window vs aircon advice is wrong too. Under 50mph it's better to have the window down, over that it's better to have the air con.

@Jen-qd4qc Месяц назад

Delta > Southwest

@bunghuls Месяц назад

Plot twist, i bought a 2014 honda oddyssey for 15k and have a 0% interest rate on it. Could i pay it off faster, sure. But i'm enjoying the 0% interest rate while building my savings.

@IrisP989 Месяц назад

I like George's videos but I will not take any advice regarding cars from someone who buys a second hand salvaged title car...

@jordanmcgrory2171 Месяц назад

In the long run, you can also think abour moving somewhere less car centric and/or supporting initiatives to improve public transit

@shanep2760 Месяц назад

$2500 for car insurance!? 😮 I pay about $1100 for 2 vehicles.

@bigcahuna42366 Месяц назад

Many car owners in Florida are paying well over $3,000 each year for just a typical average vehicle

@webguy943 Месяц назад

I pay 800 a year.

@retnuh1262 Месяц назад

I have heard that on the highway it's more efficient to have AC but surface streets more efficient to have windows down

@markaword1561 Месяц назад

I got a 3% rate on a 40k truck in 2018, this year with bettet credit i got a 19k highlander with a 10.5% rate 🥴

@motoryzen Месяц назад

And if you would have just saved up pay cash you wouldn't have had to worry about any of that I got in a far better deal than both of those combined

@markaword1561 Месяц назад

@@motoryzen the truck was a financial mistake but hindseight is always 20/20. The highlander was out of need though, had to get a third row seater for the family.

@motoryzen Месяц назад

@@markaword1561 well everybody thinks they need a freaking SUV to cover a family and you don't can actually get a four-door sedan for noticeably cheaper and cost

@markaword1561 Месяц назад

@@motoryzenthey dont seat 4 children though

@motoryzen Месяц назад

@@markaword1561 maybe stop at two kids like anyone with a sane monetary planning mentality? Whatever...

@2023Red Месяц назад

You, George, have become a shrill. An advertising agent to spend money. No thank you George!

@zacke.1286 Месяц назад

Gas saving tip: fill up at half empty. Its more about making the money you would be putting in all at once stretch over 2 or more weeks. Also, get a Sams club membership! I got mine for $25 last December and consistently I'm saving about 20-30 cents at the pump. Combine these two and its a golden strategy for saving on gas.

@steveweixel6709 Месяц назад

It seems like "making the money you would be putting in all at once stretch over 2 or more weeks" only matters if you are having cash flow issues. Am I missing something?

@deviouslaw Месяц назад

Lmao, going to the pump 2x as often saves nothing. It's a false economy.

@k87upkid Месяц назад

Filling up twice as often likely increases the miles you drive to get gas, unless Sam's Club is directly on the shortest route to wherever you're already going.