You're doing what so many people want to have the balls to try out... quitting their full time gig in order to go all-in with self employment. Love it.
I appreciate this type of casual, real talk style video, especially your transparency about your finances and decision making process. It adds a personal touch that's refreshing in a sea of RU-vid creators just cranking out surface-level reviews. This video brought back memories of watching the video of you fly out to pick up your 350R during Covid. I seriously considered grabbing a new 350 around the same time but ultimately decided against it and have regretted ever since. Wishing you the best on your full-time RU-vid journey!
Hey Eddie, I watched you back in a days when you were running channel with Parker. It’s amazing to see how much you have grown since than. I really like your content and I wish you the best of luck! Working hard always pays off! Liked & subscribed 👊
love your cars, maybe an idea you could make a video on is having a daily and a sports car at the same time? how you manage that, what you look for, do you settle for something more comfy, luxurious, etc.
i've been following you since your i8. I might have been in highschool/college then. Glad to see you are being your own boss fulltime. Last year I came across your BMW 8 series review and ended up picking one up myself. hope to have the freedom you have by 30!
Cash down vs. negative equity is just a matter of whether you write that large check at the beginning or the end. Either way, the depreciation has to be paid.
Well said. I like The Money Guy Show 20/3/8 car buying rule set. Brian & Bo both emphasize 20% down, no longer than a 3 year term & a cap of 8% gross monthly income on total car payments. If it's a luxury car, it must be paid off in 1 year or less. That should put good financial guard rails on impulse purchases.
Eddie, I just started watching your videos. Love the energy. Great information and presentation in this video! As a car guy that is shopping for a fun manual sports car, the current inflated car market prices are hard to contend with. I will keep working hard and saving. I look forward to more of your videos. 🙂
Eddie, maybe you can give your opinion on The Money Guy Show 20/3/8 car buying rule set in a future video or Q&A segment. Brian & Bo both emphasize 20% down, no longer than a 3 year term & a cap of 8% gross monthly income on total car payments. If it's a luxury car, it must be paid off in 1 year or less. That should put good financial guard rails on impulse purchases. Thanks in advance!
Great discussion. I’m of the mindset that you should have a 2 car garage (daily and special car). Put more money into the special car rather than spreading it out between multiple cars. I’d rather have a $300k car than 3 $100k cars for example
That’s always an interesting debate. There’s a limit to how many cars you have time to drive. But I like having distinctly different experiences. Mid-engined DCT vs manual Front engine RWD for example
@@EddieX would make for a great podcast topic. Would also love to see a segment on depreciated cars that make for great value. Like the 2018 Aston Martin Vantage can be had for like $75k
I appreciate your honesty… I can definitely relate to some of your story.. but I have a $5000 mortgage, $2000 AMG car payment + other expenses + married with baby and dogs. In California, anything under $900K in a good neighborhood isn’t a good house… and this is average or alittle bit better average house. But if i keep my payments fixed for the next few years, I should be able to save more…
Wow, you are one brave man. I make $200k+, family of 4, home and rentals all paid off in the SF Bay Area. the most I have paid for a car is $52k recently in cash. I just can’t imagine a $2k car payment, plus insurance and gas, that’s at least $2.5k a month.
@@jml9550 I actually don’t pay much for insurance since I have family insurance and also I maintain good records, no points currently *knock on woods* but this is a V8 AMG, so ya $300-500 for gas a month sounds about right in California. I don’t live in SF but live around LA, and work remote so I save a lot from doing that.. but ya I have high payments on the car and house but I should get better in a few years once I’m done paying off the car.
@@arelaththewhitewolf230 just want to be clear I am not dissing you in any way. Hopefully you make a good income to afford a $5k mortgage. Personal if I were to have a $5k mortgage I better bring home $20k a month. Anyway best wishes man. Enjoy the AMG, my cousin had a GLS 63, what a beast.
I’m at a point where I could technically afford fairly fun cars, but I can’t help but do the math for the opportunity cost and realize that any amount of money I’d put into a car (even just in terms of down payment and monthly payments) would yield a much better return invested in pretty much anything. Just not sure how to weigh the potential of later regret against the “YOLO” approach and enjoying some of the fruits of my labor.
Hey Eddie I really like your videos! I wanna ask you about rs7 since you had one in the past. I have been eyeing on one 2017 rs7 performance with around 25k miles for a while. Do you think it's a good time to purchase one recently and how does rs7 generally hold its value? I am thinking about keeping it for a couple years(probably less than 5). It's not CPO, should I buy extended warranty or just save the money and find reliable shops and cheaper parts when the car breaks?(I feel like 25k is relative low miles, and gives me room to mod the car, tho it is a 7 years old car) On carfax it doesn't show there's been a oil screen recall so how important is it to relocate/get rid of the oil filter? It also comes with carbon brakes, I heard carbon brakes tend to last 100k miles, so is it a good idea to gamble that they last longer than me keeping the car hence saving brake money? I am not planning to take it to the track, maybe occasionally at drag strips.
Ok the video was good but little critiques; it look 2:30 to long to start the video and also the intro/ justification should of just been at the end of the video instead. Also the full video could of been done on the couch no need for an in car shot, it just feels repetitive. We have been seeing this shot/angle since the inception of car YT. Keep up the good work, just simple improvements now to make it great!!
I like watching your vids. It’s good to see how far you have come with YT after leaving gay boi Parker. You’re self made. Parker had everything handed to him. Why people follow that guy is beyond me…
@@t3truedesignsobviously you would have to work in order to afford any car but he's just telling you what he did to afford certain types of car and his take on it num nuts
@@cesarcampos39 this comment wasnt for you , mind your business. How do you call someone you dont know names? Are you 12? grow up and go troll somewhere else.
How can any one go to Michigan and be engineer and then become you tube guy. This is unfortunately why country is going downhill. Engineering and medicine are the best fields to be in.
How are you gonna hate on another person for doing what they want to do with their own life and better themselves? Maybe because nobody wants to work the usual 9 to 5 anymore and be a slave their entire life making nothing and having nothing nice. You can’t blame self-employment for the country’s decline. That sounds really ignorant. This country is going downhill because of people that want the complete opposite of this. The men in suits want total control over your life. Entrepreneurship is the only way to go if you want anything in life. You work for you and nobody else on your own time and make as much as you want to. Freedom equals happiness. Financial freedom equals freedom.
The short answer is by being young, having no kids/spouses, and be willing to give up on everything else in life to earn more, unless you have rich parents or an inheritance, or you got lucky in the crypto space.
I just hope you change your mind later. Marriage and kids are the only thing that matters on your deathbed. Not that you had money for a couple mid cars every ten years. Look at the happiness studies. It ain’t doing RU-vid buying cars being single. I mean I know it sounds like a dog. No way out of it. And I say that because I’ve been there man. I have millions. Cars. It gets pretty hollow when you run out of views and viewers. What always brings the happiness is that baby. Teenager. Talking to them on the phone as an adult. And meetups. That’s it man…. It’s close knit relationships you had to get through hard work. Fostering. Giving up. Sacrificing. It’s not cars that depreciate. It’s not houses. Had a 5k sq door house. Was cleaning it daily. It’s not the Ferrari. Had one. It’s not money in the bank. Have it. It’s generic offspring
I have worked 40 years with a W2 income as you say. Like you I went to a good university, Purdue with a technical degree. I have worked 40 years now and still work. I now own three homes outright, condo on beach and two homes in Atlanta, and 2 million in 401k, 600k in pernsion and 5 cars and 100,000k cash in bank. And more in Roth. Let me tell y our kiddies a secret, it is called compounding interest. Over time that 401k or Roth builds amd you can afford anything. In your younger days buy reliable, like Corolla. You will see the fruits of your labor later. That my friends, is secret to old world success 😁
