How to Pay Cash for Cars 

CASH IS KING!!!!!!!!!!! I own a 2005 honda accord with 150k miles. I'm driving it until the wheel fall off while my co-worker leasing a new 2018 vehicle for $700 per month for the next 3 yrs. Once my car breaks down I already have about $20k for a new car.

Getting out of that mentality of always wanting a new car is SO TRUE! I always say "don't keep up the the jones' because the jones' are broke". Car notes keep the middle class in the middle class. This is awesome advice! Thanks for sharing!

Just when I was considering getting a new "cool" Challenger from my practically paid "boring" Civic. I'll be rethinking it now. Thanks!

My hubby walked in while I was watching your video and he was like " Preach they know what they talkin bout"...lol GREAT VID!

They should teach this in schools. Smart couple. Keep up the great work

My husband was smart enough to buy 2 vehicles with cash last year. I was planning to buy a 5 year old car with a car note, but you just changed my mind.

I always pay cash for my cars until I got married and hubby said you need to get credit cause had 0, my family always told us to pay cash for everything and dad always said if you can't pay in full for your credit card every month then you can't have a credit card. But hubby and his family said I needed a credit card and to finance, I hated those payments 😭😭. Never again, one time was more than enough! I hate debts just like my daddy and you guys. It feels great to know someone else thinks like you 👏👏👏👏

My husband and I never bought a car new and d we always paid cash. I bought all my cars from crgislist never had an issue. The great thing about CL is that you don't have to pay taxes to the state. It's between two people. Which saves you hundreds of dollars. If the car is 5k then you're only paying 5k not 5k plus x,y,z taxes and other fees.

Want to hear an interesting story ? Well , I bought a 1991 Toyota pick up truck brand new because I needed a vehicle that I could depend on for several years ahead and I knew that I did not want to pay rent for several years and that I would eventually move into a house that would soon become my home, and I would need to move the furniture that I had and I did not want to spend the first payment on the house using a moving truck. I used my pick up and moved every piece of furniture that I had myself. It was hard work , but it was done. I am still driving this truck today. It is 24 years old and still going . I knew that my pick up would not last forever , so I did buy another vehicle in 2012, which was another Toyota, but an suv this time. I still use my pick up to go to work in the snow and it gets me there and back every time. The paint has left the truck , but it is still going strong. It was difficult getting used to a payment again, but that too will soon end. I started off putting the payment that I did not have anymore from the pick up into a savings account until I found out that I had cancer. I am cancer free today and back on track. Love you guys, thanks for sharing your helpful information.

Love seeing black people do amazing things. Y'all cool!

It's such a sigh of relief to see someone else talking real sense and not focusing on making financial institutions rich just because it's what most people do. I also hope to one day buy a home cash as well. I always feel like I'm by myself when I talk about these things I'm always outnumbered. Thanks for posting!

Holding a paid off vehicle then making a car payment to "yourself" for the next one is an excellent strategy! Great job of explaining this on this video.

I like the fact that you two are on the same page when it comes to Family Finances! I know a lot of people that are not and it causes a lot of tension in relationships.

I'm working towards paying cash for a car. My fleece ends in November and my plan is to NEVER have a car payment again. So I'm working to save up enough money to get something reliable. When I do, it'll be my 1st car ever without a car payment going home with me. Thanks for the inspirational video. I needed it right now since buying a car with cash is my #1 goal this year.

I thank y'all for looking like me and telling our ppl what we have not been taught from young. god bless y'all family.

As a plumbing contractor I have worked on many different types of homes. I have noticed several of the people in the higher end neighborhoods drive older paid off cars. They are intelligent enough to know that a car is a depreciating investment. They would rather invest in a nice home that will appreciate over time. Something to think about. If you added that monthly car payment to your mortgage you could either pay your house off quicker or afford a better house with a higher monthly payment.

Another favorite video!!!! I so needed it. I need a car right now but I am paying cash because my cousin is selling his. NO MORE CAR PAYMENTS BABY!!!!!

This is great information. My car is a '99 w/264K miles on it. I had it for the last 5 years and paid $2300 cash and it is treating me good. I put 50K miles on it and if it breaks down on me tomorrow I won't be mad because I got more than my monies worth out of it. I have been saving up money for the time it breaks down and I'm ready to pay cash for another one. Subscribed!

you guys are so realistic. like you guys, im all about reliance and low maintenance because im on a budget. this is just what i needed!

What a TEAM! Inspiring message! It took us 4 years into our marriage before we were car payment free. We did the same thing and redirected that payment into savings. We only carry a mortgage payment and pay cash for everything else.

Great video. Instead of having a car payment several months ago, I decided to put a new engine in my 1993 Acura Legend four months later it's still running beautifully.

Thank you for this great video. This is my last car loan. It will be paid off this year and I plan to never go back in debt with it again. This is just great confirmation for me. You guys ROCK!

Sound advise. Wish a lot of black entertainers would listen to you both.

I never like car payments, but my friends would say to me "that's how you buy cars,,, with a car loan" since hearing Dave Ramsey and you guys I finally feel validated. keep up the good work guys!

Such an important video! Thank you all for sharing this. I have been doing my best to instill this message in our children as well. A car payment can be such an unnecessary drain on finances. We are car payment free for 2 years and no looking back. Wish we had seen the light sooner!

i love black love u two are an inspiration.

I really appreciate you guys! My husband and I have been debt-free for the past 17 years, and it is such a liberating feeling. Thanks for sharing your good old common sense methods. Keep it up!

It is so refreshing to see a young couple with good old fashion common sense. I'm 65 & I haven't had a car note since 1999. I paid for my car in a year with 0% financing....btw, I still own that '98 minivan & just put 100,000 miles on it. I've been putting my "car payment" in a savings for a while now. I'm retired & mortgage free as well, but I'm subscribing because I'll never get too old to learn some new tricks. Thanks !!

You guys are awesome. we have a 2009 that we will drive until it falls apart in the driveway :)

This is awesome. Havent had a car payment since 2000. I drove 500 cars because im not trying to impress anyone but now i have 4 cars all paid for. I go to auctions regularly, The profit i make off of those cars buys whatever car i want. Great video!

Hi His and Her Money team - I'm a new subscriber to your channel and I just want to say it's awesome. But I wanted to tell you I bought a brand new 1994 Toyota Tercel in 1994 and paid it off in 1998 and I'm still driving it. It is and has been my only vehicle and still going strong. Keeping up with maintenance on your vehicle is PRICELESS. Also, I only went to the Dealership the 1st year for maintenance. After that I would go to Monro Muffler, Midas Muffler, etc. for oil changes, tires , etc. They do everything the Dealer does at a much cheaper price. Keep up the great work and may God continue to bless you and your family. P.S. I'm a female that takes care of her vehicle. 😀😀

Thank you for this tip! Unfortunately, I have to buy a car after having my car for the last 10 years and paid off for 5 years! But after I pay off this new purchase I will continue to save my car payment for the next vehicle. Great video!!!

Thank you both so much. I am so at this point in my life right now. I am desperately trying to get rid of this heavy carnote I have. I knew before I jumped into the loan that it was a bad move but being in that desperate mindset I took the plunge and regretting it since. I am so tired of debt and I am going to change things around for me. Your show and Dave Ramsey is just the boost I need.

Great video, as always guys. I remember when my friends and I were buying our first cars. Everyone was getting a loan. I didn't understand it then, and I don't understand it now! It's so ingrained, it's just one of those crazy things people do because they think it's the only way! And then as soon as something small goes wrong with you're car, everyone tries to talk you into buying another one instead of fixing it. GAH!

You guys are awesome. Im in the process of paying off my house. This video was very helpful. May God continue to bless your union.

I did that based off of my auntie’s (God rest her soul) words. I wanted a car but I was young and needed a Co-signer. She said put the money to the side including insurance for a certain time, so I did, then I had more than enough to put down for a vehicle and continued with pymt and insurance. After that when I paid off the car I just kept putting money to the side. Now I’m going to look at your other videos 😉

my dad has a car from 1994..a toyota corrola..and it still drives soo smooth

Yup this is right on point! I've found that saving in the short term sets you up for winning in the long term!

This is a game changer for when I finish paying my car!

You guys are amazing!!!! Just discovered your channel and I am definitely subscribing! I am working my way to being debt free of $25k from school loans.. Thanks for the motivation!!

Thanks for the friendly reminder. A strategy fund is an awesome idea for big ticket items.

My husband and I made that mistake also, buying a brand new car and then the car payment was so outrageous we actually had to let it go and had to ride around in the car I've had since I was 16. We eventually got a used car and once our hospital debt is gone we're gonna get it paid off asap! Love you're guys' videos, cant wait to try this for our next car!

I love you, guys. I want you to adopt me, haha. I've been watching your financial videos all night and i realized that i've been an idiot for years. Now i'm thinking about starting a complete new life with low or no detb at all. God bless you both!

We paid cash for the first time for a car! It was great! The dealership was having a great sale on last year models. And got them to lower the price since we were paying cash! Best feeling ever! We will never take a loan out for a car!

Every time I hate my van...that is perfectly fine, very amazing car actually...I come watch this video to slap me back into reality.lol Thanks!

OMG! You beautiful people just gave me life :) . I just discovered you today. Thank you for sharing your wisdom with us. I will be staying tuned.

Live debt free, an octogenarian, and bought a new 2013 Chevy Malibu in 2013. Paid cash. Don't know how much longer I'll be alive but this will probably be my last one. I usually keep and maintain them for ten years. It's wonderful going to bed at night knowing you owe no one a penny.

I love your videos! We are working the Dave Ramsey plan and your videos keep me motivated!

Wow this money tip is so wealth wise. Thanks for sharing. You guys are so proactive; not to live in the now. While watching this video the Holy Spirit reminded me of Proverbs 6:6-8. How Ants are proactive to store their food in the Summer (harvest) because Winter is comimg when no one can plant and harvest. So proactive! Verse 6:6 says consider its ways and be wise! I am 5 payments from paying my car off. I will pay myself and store that money away for my future car. There is such a HIGH when you buy a new or used car. To couple that High sensation with a no monthly payment obligation. This is priceless! Big thanks to you guys. Thank you for sharing this awesome money tip.

Telling it straight without hype? How did you get on youtube???? LOL. Really I need to think more like you. Thanks for being real.

I have been bingeing on your videos. Love you guys! Thank you for the wealth of information!

Hubby and I have our cars for over 10 years, mine is 11yrs old, my husbands is 14 years old, still saving for a new car for when we retire. Hoping to only to buy 1 for both of us then and paying cash!! We also make sure we keep up good maintenance on the cars so they will last a long time. Good advice!!

My first vehicle I had for 13 years. I'm on my second vehicle which is currently 10 years of age. Hoping it will last 13-15 years before needing replacement. I do my own maintenance where I can. Doing your own maintenance saves a lot of money. Great Video!

Glad I found this. Ive been saving to pay cash for my car and friends and family have been putting pressure on me to get a loan so that I can buy a better car brand. It seems my choice isn't a match to that of my co workers in my field of work. I just don't want to be paying for the next three years. Tnx for keeping it real.

Wow if only I could convince my husband to watch this video. I'm top heavy with a car loan now not out of need but out of want. Once this $7,000 is paid off I have a new plan when it comes to purchasing a car - I won't be - I'm gonna drive this jaguar till the wheels fall off! Thank you both for my Sunday night one on one!

great as alway! great message! We plan to pay cash for our next car when our 8 & 12 YR old vehicles lay down. until then we keeping driving them!

Thank you so much for sharing this message with people about learning to hate debt. I love your videos!

Great advice! this method can also be applied to purchasing a home as well. doing this, one can pay cash for there home and not have a mortgage. Thanks again.

I am gonna pay mine off and then do what you guys are doing this is so true

I gave this advice to my younger Brother recently!! He is so glad he took this advice from me!!

I know this is an old video but I was just introduced to your channel, so please forgive my late response. The philosophy of paying cash for cars is very logical because the money we use to pay for a depreciating asset each month could definitely be put to better use. HOWEVER, I have to be honest, a car note is an expense that I'm willing to live with just like I pay for lights, food, gas, cellphone, etc....Because I don't want to think about the repairs on a used paid off vehicle or that it just may not start one day. I'm willing to pay for reliability and that cost outweighs the concept of being car debt free. Also, I've had older paid off cars and because of the way my husband is set up (bless his heart :-)) we don't take care of them the way we should and therefore they don't end up being as reliable as they could be. So I'm even to the point where leasing, basically renting, a car is an option when it comes time for my next vehicle (which will be soon considering my car is 10 years old now) because I know that with a lease, I can turn it in and get something new every 2-3 years.

This video is golden!!! I made the terrible mistake and leased a car 2 years ago and my lease will end in October. I'm definitely using this advice to put that car note AND insurance money in an account so I can purchase a car with cash. Thanks for the tips!

Thank you for this video. My husband and I were just having this discussion we are $8000 in debt and our car is breaking down.... I knew and have been adament. I didn't want us to have car payment, and for reasons you both stated... He's been asking for months for us buy not a used but new car and you guys conveyed my point clearly and unbias. We are apartment renters. ... Your advice is being heard . Please continue on where to put the money... I almost passed out when I heard you guys have 13 acct.. We have three but don't really know how to make it work

I need to get a cash car right now. Sadly I don't have a savings so it's really looking difficult. But I'm in my late 20's and a single mom of three. This paycheck to paycheck life with a 500 car note, not working. This video definitely struck a cord, thank you

I have ALWAYS paid CASH for the last 4 new cars as I HATE to pay more for something that I don't even fully own. Pay cash and the item is ONLY yours. I have NEVER paid any interest at all except for my mortgage; proud to say this as this is the smartest thing any one can do and not acquire any more debt.

Thank you for enlightening me on this I'm looking to pay my car off right now I'll never get in this situation again now that I send you a video thank you for all your teaching and your guidance

This is awesome info. Never thought to continue paying the car note to myself. Thank you. I had too small of a payment going into this fund. Time for a raise.

I'm glad I found this channel!

Love how you complement each other. So nice to see how you value each other.

We've driven the same cars for over twelve years. I wish we had saved a little every month during those 12 years for a new one! Mine is 13 years old, his is 16 years old. They still run great, but we could have saved less at a time and had a good amount now for a replacement.

The vehicle we have is 13 years old. Luckly my father-in-law is a mechanic. My husband does stuff for him in exchange for fixing our vehicle. They both get some done they either can't or don't want to do themselves!

No more financing... no more interest ... money saved! I'm currently working on this!

Hey what do I do with a car I have in an upside down situation and this info is very helpful I'm going to start asap

love your video, cant wait to watch more, y'all are so inspiring! God Bless

Seeing my people financially educated motivates me. Keep it up!

Amazing you guys are great! I just ran across you guys, and I had to subscribe. GOD bless y'all Union! Keep those videos coming!

I'm so happy I found your channel! Very insightful and valuable information. By the way, where are you guys from?

I bought a car awhile back to help improve my credit score. It wasn't new just a 2011 370z.

Its so wonderful to see a couple sharing the same idea! God Bless you both!

Great video I learn so much from your videos, I wanted to know can you gave out some advise about on how you can talk a good deal on cars, and how can you go about looking up the car on KBB?

So helpful and we will try this in our household! 7 habits of highly effective people really got my husband attention especially no car payment. We hate car payment with a passion but recently had to get one. So this is a must for us! Thanks so much for sharing!

Just paid mine off in March and hopefully hubby's will be paid off in the next year. My car is a 2007 but it's a Nissan and I'm riding it into the ground. My parents just went and financed a car and i was like noooo but they've bought into the lie :(

I love you guys, thanks for always sharing practical tips! I do have a question, every couple years I get a call that my car warranty is about to expire, and I’m given an offer. Do you all keep warranty on your vehicles, or would that money come out of the car savings if something went wrong with your car?

First of all I love this and all of you guy's videos. Just a word of caution if your followers are looking on Craigslist to buy cars. We had a vehicle stolen while parked outside of a mall during the Christmas season. After a month, our vehicle was found and returned to us. A few weeks later, the vehicle went missing again, this time from in front of our house. Another woman reported it stolen and it was recovered and returned to her. Can you imagine the confusion?!!! Turns out, our vehicle was sold on Craig's List when it was stolen the first time. The woman who bought it thought she was purchasing a legit vehicle because she received a title. The sellers(thieves) had a fake, also known as washed, title and sold it to this woman for $3000.00. Once the police were able to figure out what happened, the vehicle was picked up from her and placed in police impound pending a property hearing. THIS WAS 6 MONTHS AGO. We are still awaiting a hearing but the police say we will get the vehicle back, since we are the true owners, but this lady is out of $3000. So, my advice whenever purchasing a vehicle from any private owner, especially Craig's List, be sure to do your due diligence by running a VIN Report, title search, or VHR. This can be checked online, maybe even through Carfax although they do not guarantee all data will be available. You will have to pay for the best searches, but $50 bucks to save you $3000 bucks is well worth it.

So happy I found you today and I subscribed after watching 2 of your videos!! Can't wait to catch up on all your previous videos!! You are such an inspiration and a delight to watch. Keep up the great work!

Awesome tips!

Thank you so much! As soon as I pay off my car I will continue to put money into a car savings account! No auto loan again.

Great video. I kept my first car 16 years, my second 8 and the car I'm driving now is going on 5. I did my research on all of them, choosing midels with good teack records. And since I don't know anything about car maintenance, I make sure that I have it serviced at the intervals recommended. Since I am now retired, I will definitely look into that system of setting aside money for the future purchase of a car. The idea of paying cash, and not having a car note really appeals to me!

Two Thumbs UP!!!!! I LIKE COMMON SENSE AND THIS VIDEO IS ON POINT REAL BUDGET TEACHING MORE CAN LEARN FROM THIS THIS CAN BE APPLIED TO BUYING A HOUSE AND ETC. GOOD JOB U GUYS!!!!!!

I just discovered you to day. before I even looked at the video I subscribed just because of the title,

I'm saving up for a motorcycle and refuse to go into debt behind it. I went this long without it and will continue til I have the cash in hand to do so.

Dave Ramsey has an excellent video on just this subject called "free cars for life". I like the idea of putting the $ somewhere that the interest works on your behalf so that you don't have to work as hard. I pray the blessings of Jesus be yours as you help others be free.

do you save it in a regular bank account??interest cant be much what about a stock with dividend like AT&T?

I have been car note free for four years. I will never get another one. The car is ten years old. I most likely can get another five years out of it because my commute is only ten minutes.

I love you guys and follow you on everything. Can you do a video on how to save for retirement when your a stay at home spouse? My husband is in the military and we are trying to be smarter with our finances while living overseas.

My goal is to always keep my cars/truck for 10 years or more (I have total one), but it was 9.5 years old.(Praise God no injury to myself or others). I buy something that is nice (nothing real cheap), new or 2 years old (example: buy 2013 in 2015), no more than a 4 year loan (ALWAYS) pay off before loan matures. My car now is 13 years old, still very nice. I will start saving now for my new car (looking to purchase in 2017). Then I plan to keep paying myself for future cars. I need to diversify my credit so I don't mind a car loan, but my goal is to have at least 70% of total in savings. (No current plans to add real estate or another credit card to my credit profile). Thanks for posting.

I love watching you two, together!

Great info ,Subed

This is such a great video. I am definitely going to start paying myself every month so that one day if need be I can purchase a new car cash instead of getting a loan. I am going to share this video, people need to see this.

The vehicle is now 16 years old. We are waiting on a check to come in so we can go buy a car. Unforuntly it's hot around us so hopefully it will come soon. Especially with school starting in a few months since we need to self transport our daughter to school.