Millennials Leasing Cars - Dave Ramsey Rant 

People think millenial is a blanket term for young people but the truth is all millennials are grown adults now

I'm gonna ride my hooptie until dies; until I can buy a car cash. It's not that's serious people. The person you're trying impress is gonna see your bmw you can't afford and say "wow" and then your yesterday's thought and stuck in debt and starving 🙄 PRIORITIES PEOPLE.

I make $80,000 a year and will not put myself into a car payment. My grandpa always told me, if you cant pay cash, you cant afford it.

My grandfather was a kid during the depression and lived a couple cardinal rules coming out of it. 1) If you can't buy it in cash (except for a house) then you can't afford it. 2) Never lease a car. 3) Don't worry about keeping up with the Jones'. 4) Real estate is the key to wealth. "The population is increasing and there's only so much land on earth kid and it doesn't look like living in space will be an option any time soon". 5) Never let anyone tell you something can't happen. No one thought the depression was possible but it happened. 6) Look for investment opportunities ,but if everyone is in on it be careful; that bubble might pop. 7) Banks are in business to make money, their insurance is the politicians you voted for.

I am a millennial and this is funny.

"I didn't even know where the Mercedes lot was until I was over 30!" You're not going to like this, but a LOT of millennials are over 30.

Why are cars so important to people? It’s a car; it’s for getting to places. That’s it. It spends a huge majority of its life parked.

I'm 26, I've paid off $40,000 in student loan debt and bought my own house. All you need to do is major in something that pays money, and make good financial decisions after that. Its really not rocket appliances.

I'm 30 and I still don't know where the Merc lot is, haha.

Glad my cars are both paid for. Never again will I buy another new car. Worst investment ever. Worked like crazy to pay for it.

You're like the financial Lil Jon. WHHHAAT???

I have a paid off 2009 Honda Accord Coupe in black. I'm happy to have a car, but it looks even better paid off.

"These poor starving debilitated millennials are leasing beamers!! What!! Don't talk to me about being debilitated. You can talk to me about stupid! " 😂😂😂😂😂 Much love and blessings to the Dave Ramsey Show.

He’s like the Stephen A Smith of the financial world. Love it

Yeah I'll pass on leasing a car, I'm happy with my $1,000 dollar car with 50k miles miles and $50 monthly insurance aha

but i deserve it Dave!!! I worked hard for my gender studies degree!! 🤦‍♂️😂

I'm a Millennial going through college and I'm happy with my 2000 doller car. It's never broken down on me, gets me to school and work, but most importantly I paid cash for it

"the most expensive way to buy a car" - except that the car is never yours

Paid off my house at 28 and own a 2005 Honda Accord

Sometimes, I watch these types of videos to feel way better about my financial decisions.

I never, and STILL don't understand leasing. When someone explained it to me I was like "So it's renting". Nooooo no no no! it's different from renting! "Yeah dude... This is just renting with extra steps".

His office is so neat, I love it.

What a great time to be a smart person. Seriously, we have no real competition out there with folks like this making horrible decisions.

So glad this is on RU-vid. I almost leased a new Honda Accord until I got overwhelmed with the idea of making payments every month. Man the dealership is pushy. Hes right it doesn't make sense.

So glad my GI Bill is going to pay for my college once I get out. The thought of having student loan debt makes my head explode.

I didnt lease my car, but the worst financial decision I made was buying my $25,000 truck when I had a paid for car. Yea, it needed some repairs but I could have easily gotten another 3 years out of it, if not more. Cars are going to kill our wealth building.

We leased our car but thankfully have learned from you, and we won’t lease when this is up. We have just under a year left. Thank you for these videos.

This should be taught in high school

I'm in my mid 30s I have never bought new cars and motorcycles. Only used and paid them all off in full. Feels good not having debt

Why would anyone lease a car ? They pay for like 36 months for something they won't even own.

One of my favorite Dave rants ever!

The “fake it till you make it” philosophy is in full swing

*Says he doesn't like drama and rants. *Goes into dramatic rant about millennials.

2023 Dave should watch this.

Dave and Lil John should make an album.

2:55 I like the part when he yells.

must've been nice buying a 30,000 house 😒

A bastion of financial sanity! Listen to, and love Dave Ramsey!

" My first house...30k dollars." I'll be buying my first house soon and it likely won't cost less than 100k, so there are some of us that don't have the same opportunities as 1974

Someone should put together a compellation of Dave's rants.

I enjoy watching your videos, I know they help me make better decisions one day + you also provide knowledge while being entertaining. I thank you for that.

Hey I'm Generation Xiennial as I was born in 1982. My student loans are paid off and well my husband and I own our house we have 92,232 left on the mortgage, and the house is worth about $240,000 (it was Apprassied for that amount in May 2017). We just paid off our car and plan on keeping it until it needs duck tape to be held together. My husband is a plumber and I get to stay at home with our 3 kids, we are saving money and plan on selling our DC metro area house and buy a house in cash in Georgia. Trade schools are where its at!

I wish I could find a house for $30,000 or $40,000 like Dave's first house. They are more like $275 000 now for get the small 3 bedroom. I'm about 1 hour drive east of Toronto, ON.

I love angry Dave. He has mellowed SO MUCH. He used to talk to some callers like this, not just save it for rants. Remember when he'd call someone a princess every 5 minutes? Hehehehe even as I kid I loved it when my Dad had it on

My best friends drive a Jag and a BMW... both leasing... both their payments are at least $100 more than what my monthly payment was. I bought a Camry when I graduated from college 9 years ago ($400/mo @ 0% and haven’t had a payment in 5 years)... still driving old Chloe the Camry today! She’s about to cost me a bit due to an ABS issue but fixing it in the grand scheme will still save me thousands in car payments if I can get another 2 years or so out of her!

Why anyone would lease a Lexus is beyond me.

It's very comical how many people grouped themselves into his statements and or took what he said personal lol. Mr Ramsey does make many points lol (reading comments)

Had a conversation with a man who recently lost his wife to cancer. He told me when they started their careers (1977) instead of driving nicer cars they decided to travel. She was given 6 months to live and they got to look at photos and talk about their adventures. Isn't that better than a car?

Priorities are all messed up. It’s all about the image of wealth when in reality they have $500 in there bank accounts.

Financial stupidity never ends.

I refuse to borrow money to support the banks.

Sensational news headlines do not speak to the growing "melodrama" or do not speak to everything being "a big deal." That's just news.... news is always like that.

True. Im a millennial and I became an electrician which only took me 2 years And I'm making decent money. I have friends who went to 4 year universities and now they can't find jobs.

Thank you Ramsey to your teaching love your show more blessings thank you Ramsey. amen

This is funny and true. I have $180,000 in student loans, yet I drive a Volvo XC90 and have an $1,000 iPhone 10.

Gen X here: I could never understand leasing. Why would I pay to drive a vehicle over and over that they can take away, when I can pay cash and it’s mine forever??

Ever think that maybe both are true? Many students graduating are saddled with large debts. Many students graduating got scholarships or financial assistance, got no debt, got good jobs and now can afford to lease a nice car. Both stories can be true.

Statistics can be used to tell whatever story you want them to tell. Best not to be outraged at things you dont fully understand.

I went to college and I deserve a nice car!!!! It’s not my fault I can’t find a job in this economy!!! *-My generation*

I’m a millennial and my first car was an Oldsmobile. I paid. $500 cash for it. Hard to believe people pay that amount monthly

maybe people just dont care bout building wealth anymore

DAVE YOU ARE THE MAN.......Just started listen to you and the advise you give is invaluable....

People are becoming more and more neurotic everyday. Unrealistic expectations of life is just the start of it. Come to Atlanta, its the most pretentious city in the eastern US. Too many ppl leasing entry-level luxury cars (Mercedes CLA looking at you) and a few grand in the bank and they have it in their heads that they are rich.

BMW payments “That is stupid on steroids” 🤣🤣

I've noticed this and thank god someone said something. Everyone's a victim nowadays.

Went to college 15 years ago....and I used to feel so poor driving my '87 Supra around when everyone had a new BMW. Little did I know I just didn't take the extra loans everyone else did lol. I worked during college and am now wanting to find and old Supra to fix up :) . How time changes our perspective on things.

This is hilarious! I'm a millennial and I OWN my Lexus IS. Yeah it's 15 years old. But it's mine.

Dave Ramsey's baby boomer generation were the ones who taught millennials to just go to college because when they were younger it was still possible to work your way through but education prices have tripled since then. That generation literally ruined the economy with credit card debt and sub prime mortgages. Millenials don't have the luxury to run up credit cards because it is so difficult to even pay for education. I am a millennial with multiple combat tours and am completely debt free with multiple degrees but it was incredibly difficult because of the mess Dave's generation made. And he is a prime example with his own Bankruptcy.

Love dave rants!!

Everytime he says WHAT!?!? It cracks me up everytime lol

I love when he says, WHAT!?!?!?!

I had a heart attack when Dave screamed out of no where

I just walk everywhere. 1.) stay in shape 2.) very little to no money needed 3.) fresh air Try it, it’s good for you!

DAVE I LOVE YOU!! I share you with everyone who listens. YOU ROCK

I like saving my money. Someone asked why I didnt drive one when I can afford them. I said I rather have it invested.

Dave Ramsey is an excellent mentor when it comes to personal finance but truth be told: he is no macro economist.

I just leased a Honda Civic for $158 a month with $2,000 down. My 2004 Mazda had 226,000 miles, and was in need of a new water pump and engine rebuild, to the tune of $5,000 in parts alone. Leasing a brand new car with a warranty seemed like the better option in my situation.

The fake crying and yelling was funny af especially 7:00. 😆

I use to think and be like that... but then I had to feel the pain of dept... it's so simple to me now... spend LESS than you earn and save.

I drive a 2011 Tacoma, 163,000 miles, owned free and clear. It runs like a top. Never had it in the shop for anything other than brakes, tires, plugs, fluids, wipers and is on its 2nd battery after 8 northeast winters

I have a student loan solution. (this is a millennial perspective). If you have outstanding interest pay it off and then double and triple pay the loans. You do not need a Mercedes or BMW when a Toyota or Honda will do. I don't have loans but my wife does and we get 0.00 invoices you keep triple paying and watch the loans decrease. For the price of that 1 Mercedes I ca. buy 2 new Honda CRV or in my case a new Honda crv and a pre-owned Ram 1500.

'My first house cost $30000'. And that's the other side of the story Dave.

I used to work in car loans. It amazed me what people would spend on a payment. People making

Love this guy.

I think leasing a luxury car makes sense if your debt is low and you can afford the down payment and monthly payments. luxury cars are super expensive out of warranty. Leasing allows you you drive it without fear concerning repairs, so long as the lease isn't beyond the warranty period.

As a millennial, what he says is accurate. It's not even just about leasing bmws. It's everyday expenditures; constantly going out to expensive places, eating out, mindless shopping sprees. Seems like people nowadays just wants to have a good time with no thought of the consequences. Which isn't too bad, I mean seriously, who doesn't want to impress the guy next to you at the red light whom you would never see again with your leased BMW 328i?

I’m getting rid of “old” 2015 car for a 2021 “reliable” car 👀😂😂😂

Wow this is from 2015 I can tell you now in 2019 the drama really has increased every year since this video was posted.

All the Millennials at my gym are driving brand new luxury cars that you, normally, would expect to see a 55 year old business owner sporting. They don't look too debilitated to me.

Actually leasing a car is not as stupid as you think. Since around 2008, reliability has dropped considerably with respect to automobiles while the cost of repairs has skyrocketed. A lot of these cars he mentioned include maintenance and are fully warrantied for the life of the lease. The days of the backyard mechanic are over. So, many young people would rather pay a lease payment each month and not have to worry about the next 'funny noise' coming from under the hood or the next little flashing light on the dash. Today, a flashing light on the dash is usually a multi hundred dollar issue and the 'funny noises' are generally multi thousand dollar surprises. The only catch with a lease is that you can't be a stupid person like in Florida where you drive the wheels off the car. There are mileage limits per year. The average car now costs close to $.50 a mile to drive when you factor in everything including depreciation, the true usable life of the car and replacement cost, insurance, maintenance and the like. If you drive 12K a year that factors into $500 a month for the real cost of car ownership. Yes, some people have 'the luck' and can pick up a $1,500 brindleshit and drive it for a year or two. But most of us would end up along side the road broke down on the way home from where we bought the brindleshit. We don't have time for that. We have jobs to get to and calling in with 'I can't get to work, my car broke down' is not going to cut it if we want to stay employed.

Must have been nice to go to school when it was affordable

Okay here's an example of a Ford Focus VS Mercedes A Class leasing through a comparison site in the UK, to show why more people would go for the more prestigious badge. Ford Focus (New Lease) 125 ST Line £186.49 per month with £1,678.43 down on a 36 month contract with annual mileage of 8,000. Plus administration fee of £180. Average cost per month = £234.88 (includes tax @ 20%) Mercedes A Class A180 SE (New Lease) £186.11 per month with £1,716.23 down on a 36 month contract with annual mileage of 8,000. Plus administration fee of £250. Average cost per month = £232.47 (includes tax @ 20%). These results are just based on the two cheapest in their respective search fields of 36 months, with 8,000 miles per annual. So leasing in contest isn't always more depending on the badge/brand. The key is not to shop in the main store, but shop around. Because you wouldn't go to Apple for the best price on an iPhone, but not matter where you buy their latest model from, if it breaks in warranty you can still take it to them. I personally don't like leasing, but as with everything it depends on the situation you're in, maybe you like new cars every 3 years and only in warranty period, and make £100,000 and year and don't want to loss 60% every time you trade it in.

i'm a millennial and I own my car and paid my college tuition in cold hard cash.

Omg I love Dave Ramsey. I listen to him daily cause I love the discipline

I'm Scottish, I paid cash for my current car and saved $7000. I think being Scottish helps with finances. :)

"WHAT!" LOL ...."THATS STUPID"

I worked my way through college... twice... (UF and IU) for two degrees. (Actually 3 times but I'm not counting my MA psychiatric nursing degree when I was 20.) You MIGHT need mommy & daddy's money to go to an ivy league (or small "exclusive") school, but there are plenty of excellent AFFORDABLE colleges. Also, the 2nd and 3rd times I went to college I was not only working full time but I married, had a child and built our 1st home in Ormond Beach, FL. I didn't work at fast food either. I was payed more because I was first a dept. manager for a large chain and then a store manager at another. I also had substantial savings because I started working and SAVING when I was 9. I received NO money from friends or relatives, took out NO loans, had NO grants and NO scholarships. I did not live on campus and I did not spend time getting stoned, drunk or getting laid. I STUDIED...HARD! Sadly, because of the lifestyle I afforded my OWN children, even with the work ethic and values I did my best to instill in them, the US culture and mass media has trained them to FEEL... entitled. I grew up in a very rural area with a single parent and 7 siblings and we SCRAPED. Now I think it might have been better for my own children if they had experienced some of the hardships I had growing up. (BTW: I've paid cash for cars since 1980 using Charles Givens plan of buying a good very cheap car at "buy here pay here", banking what I WOULD have paid in car payments and running the car into the ground - 6 to 10 years. I bought my sweetie a new Avalon CASH when she graduated from college. And I also paid cash for those 4 years of her college.)

i just bought a crown victoria , with 109k miles, for $1000 at an auction. she rides smooth and gets me to work everyday.

I'm an older milleninial (technically) and lease a '15 Malibu for $138/mo. $0 in repairs, bumper to bumper until the 3 years is up in February. Plus I'm about 6,000 miles behind pace for the allotted miles. Should get a nice check cut to me when i turn it in. Not all leases are luxury vehicles, and while yes, you won't get any of that money back in most cases, it can be a reasonable financial decision if you stick to your budget and sign at the right time.

Never married, no kids, no debt, college bachelors degree, work only nine months a year for $60,000.00 and can’t spend it because I’m on an oil rig in the Gulf of Mexico. 49 years old and two girlfriends, now that’s what I call freedom.