"dont think of your car as your identity unless you're thinking of showing people that you're smart" damn straight. You're the best, I truly appreciate all the wisdom you're sharing with us plebs. Hail MMM!
Thank you MMM for the car advice. I just sold my 2019 Ford Ranger 4x4 for $33,000. I'm no longer in debt and the credit card accounts are paid and closed. For the rest of the year I'll be doing Uber's from time to time until I decide which used car to buy with "cash." Good luck to anyone out there digging there self out of debt. If I can do it, you can too. I promise, just don't give up.
Well said! I had been debating between a Prius and a Honda Insight and a Honda Fit. The prius and insight do not have enough room to haul a chevy silverado transmission or engine. I want to be able to use my car as a pickup. I ended up buying a 2008 Honda Fit and I get 36.5 mpg. I have already hauled a 20 ton hydraulic shop press that was fully assembled in it. I love this car and I don't have to worry about a hybrid battery.
Hey MMM! Newer reader of your blog finally having caught up after the last two years. Something that saved me from a terrible car situation was having a shared approach. Before any frugal stubble of my own I made the mistake of buying new thinking the reliability would be better as a form of repair avoidance. Much more informed these days after helping a friend who is a hobby mechanic, and confident I’ll be able to keep this one running until it rusts to the ground. In the mean time, I did a major uproot and moved to a bike friendly city, have been cycle commuting for the last year and a half (going on two Canadian winters but still doable). As for my car, a family member and I came to the agreement that she could use it for getting to and from her offices as the buses are not an option, and as for the return I catch a ride back home for family visits and outings. After doing the math I still feel it’s a win-win even though best outcome would be complete car-free life for us both but finding that simply being car-less has opened so many opportunities for personal growth and more intentional use of our time. Thank you for your many wise words, I recommend your material to everyone wondering if this is a crazy outlier lifestyle. Cheers, and happy riding from Hamilton! (Or driving only when it absolutely makes sense)
Yay Hamilton! That's where I went to engineering school, so I spent the winters biking back and forth in the snow from downtown out to McMaster U. It was a fine city for biking even back then, but now when I visit I notice it has been transformed with GREAT protected bike lanes everywhere. So it's even better.
Only channel I've subscribed to before watching one of their videos... but to be fair, I'm about 400 articles into your blog, so I think my bar still remains high...
Just purchased a 2015 Leaf S for 7500 with home charger and absolutely love it. I call it my poor mans Tesla. Paid cash and super cheap insurance. When I pass a gas station I chuckle!
I've never lived more than 15 minutes from work. Can't stand traffic. I'm totally fine with an older car until I have enough wealth to splurge on a Tesla 😁
@@Jordan-ym5gf My brother's 2013 Kia Sorento engine locked up for no reason at 80,000 miles, but thank God that he was under the 100,000 mile warranty.
Thanks for this video! I’ll share this with my son who will be driving in a few years. He thinks he should drive a Tesla...we are working on him and his expectations;) Nice plug for the bike at the end.
The matrix should not be considered for a new driver imo. It has terrible blind spots. I had one, bought it new and it ran perfectly but the blind spots were scary in crowded metro traffic. After 7 years I sold it because I didn't feel safe driving it.
I have two 2013 Nissan Leafs. Paid $8500 each. I have owned them for two years now. No maintenance issues yet. Very dependable and fun to drive. Best part, NO Gas required.
Hey MMM. You did a book review on The Intelligent Asset Allocator and I read it because of you. It is a good book and I learned a lot but I was hoping you could do a video on asset allocation.
MMM or fellow viewers, want your input. I'm leaving the Virgin Islands for Tampa where an $80K per year job awaits. Bought a wee travel trailer that holds its value (I've lived on boats; it's not a big deal -- I don't have much!) Nearest RV park is 15 miles from where I'll work. Rent: $350 per month -- far below the median $1200+ for even a studio on the area. Car dilemma: Am selling my VI car for $7K and can buy a Lexus SUV to tow it for $9K. I plan to use it for travel/camping once or twice a month for a day or two. I think I can also score a Toyota Echo for around $1K to $2K that -- because of age -- might need more maintenance but will have insanely better gas mileage. Can pay cash for everything. The Lexus (insurance and gas) would make my expenses -- and I mean EVERYTHING -- about $850 per month. Should I get the less reliable but better gas car? Or get the reliable Lexus and worry less and just rent a U-Haul pickup with a hitch for when I go camping? Your thoughts are important to me. Thanks!
Hi MMM: I have a question for you. Like you, I care about not destroying the Earth. My spouse and I make modest incomes doing environmental work, and thanks to you, we live an efficient and fairly sustainable lifestyle that should enable us to retire earlier than most. Because we value our habitat, and we know that our individual lifestyle changes alone in a fossil-fuel based economy won't stop climate change, we also donate to environmental causes (and people-centered ones, too) addressing this most pressing of issues at the policy level. More donations = later retirement, but fewer donations feels like not giving our all to mitigate an epoch-defining crisis. How do you, as an environmentalist and financial badass, recommend we reconcile our sense of urgency around the climate with our sense of urgency to get out of the rat race? (Environmental work is Sisyphean and draining).
And I don't mean just monetary donations... canvassing during elections, volunteering in our community, etc. are also gifts of our time to the cause - time that most FI-ers recommend one spend chasing FI.
Ahaha, aren't automatic ads silly sometimes? Still, thanks for watching and clicking on any such videos, so that Ford's Pickup Truck division can fund little MM's college tuition! :-)
4:40 "there's a huge tax credit that subsidizes these cars up until this year." Is that tax credit for Nissan Leaf still available as of summer, 2021? Or actually even for any hybrid vehicle? Thanks
The problem with used hybrids is your stuck with replacing the battery. And the battery technology will be older tech than new batteries. In the hybrids case old ones are NiMH the he new ones are Lithium ion
Ahh, but as a DIY mechanic friend of mine has learned, Prius batteries last over 200,000 miles to begin with, and you can rebuild one at that point for just a few hundred bucks (or buy a reconditioned one for $1k or so). They are not much harder to swap out from under the hatchback cover than a heavy version of a normal 12V battery.
@@MrMoneyMustacheChannel but most people would pay someone to do that for fear of getting zapped. Also other repairs on a hybrid are way more expensive than a regular car. Such as a generator replacement. They don't have alternators they have generators that cost thousands to replace and the generators eventually fail. See Scotty kilmers why not to buy a used hybrid video
5:53 - AdBlock Plus blocks ads in Chrome, is free, and I was able to fill out the form. Seems like this should be something MMM should be all about. Am I missing something here?
In one of his articles, MMM recommended a Toyota Sienna or Honda Odyssey for that situation. Look up the article "So I bought an Electric Car" if you'd like more details. He also owns a 1999 Odyssey which you can see a video of here on youtube if you haven't already.
What is your recommendation on a high mpg vehicle with some towing capacity? We are looking to find a vehicle that will pull a tiny camper cross country for summer vacations.
Justin Mailloux what about swapping vehicles with a friend just for the holiday trip, or renting some form of accommodation at your destination? The 50 weeks that you don’t need the towing capacity will cost you more than you’d save for the couple of occasions you do need it IMO.
@@Nobody_Famous well when we are in early retirement (about the time when both of our children are old enough to be in school), our plan is to travel during all of summer break. Tour the national parks. I am also a landlord/budding house flipper, so am thinking something like a minivan with a towing package, but want some opinions.
I love your blog and new podcast! I am currently on my way to financial freedom as a small business owner, am 36, and have a family of 4. My biggest expense is healthcare. I have a daughter with cerebral palsy and don't want to get anything second rate, but also feel like there must be a better way! I currently pay about $1600 a month for $6000 deductible per individual Blue Cross Blue Shiels plans and don't qualify for any subsidies. Do you have a better solution? Please help!!
My buddy bought a mini van for his large family. He said he refuses to spend a bunch of money on a cross over. Snow tires are like having 4x4. They are amazing on my mustang.
Thank you for this! I really need a new car. My paid off car is amazing and I could drive it for many more years but it is not comfortable and i really want an SUV. 🚙
It’s funny mmm never talks about the price of pollution 😕. Every gallon of gas burned it’s around 20pds of pollution. Factor that in on the math for our kids please . Also, I have a lot of friends that they don’t have IT jobs or others , they are taxi drivers and they do luxury rides etc in NYC , so they have to buy suburbana and those kinds of vehicles. Mmm focus too much on certain part of the population. Even on your video about the cost of a car you talk about pollution but as usual you don’t recommend to buy all electric cars because of the money . Money comes first than planet 😅..One solution doesn’t fit all 😃. So one, factor pollution on your math and second , not everyone has the same needs or jobs so they need to spend money on their jobs like taxi drivers
Paid $1000 for a 2006 Toyota Prius with a dead hybrid battery. Paid $600 for a refurbished hybrid battery and car is good to go. 50mpg and cheap insurance.
One THOUSAND dollars for a useful, efficient car? That is an amazing accomplishment. But yeah, the used car market gets really crazy at the fringes. So a little bit of knowledge goes a long way - and you can save $200,000 over 20 years making decisions like that versus getting even a slightly upscale care like a bottom-end BMW and then replacing it every few years "to avoid the expensive repair bills"
This video really saved me when I found myself in a job with a minimum of an 1.5 hour 82 mile round trip commute. I was able to get the car of my dreams a year and a half ago based on your research presented here. My friends and family laugh at my swooning over a 2010 Prius but I honestly feel blessed! Thanks again!🙏🏻🙏🏻
Big help😀 .. What I have taken away from your channel: 1. Started Walking to do errands. My store , dry cleaners, bank, post office ect. 2. Stop eating out. Paid off car... And shop pantry first and just add what's need . Thanks for great tips...
Thanks for the video MMM, quick Craigslist tip to not have to x out all the duplicates is you can check the search option right below search title only to also "bundle duplicates" keep up the good work Little MM!
I loved the comment about not impressing people / determining your self worth by buying expensive shit and driving it around and damaging your community 😂
You, sir, are a friend of humanity. You encourage people to ride a bike, but you aren't too snooty to actually give some REALLY solid car advice for people who actually do need 4 wheels and a windshield.
Honda Fit is still great! It just didn't quite make this very short list from Consumer Reports. But absolutely, keep that on your shopping list too - 2009+ models get the newer, roomier design.
I was wondering the same! I am still driving a 1991 CRX I bought used with 135K seven years ago, but after driving my girlfriends 2016 Fit (with the CVT transmission), the Fit is now on my 2023 wish list......
@@justinofboulder OOOO, that model of CRX was my Dad's car when I was in high school (he had a 1989 "Si" model in bright yellow), and I would occasionally get to borrow it, for example when trying to impress a girl. I have such great memories of the little machine.
I said the same thing! I'm like wears the fit! The snazzy Prius surprised me. "it's like a regular Prius, only more expensive" That seemed so unmustachian. But then I realized it wasn't MMM list. I like how you went through the how process of looking for a good used car. I always assumed everyone knew that. But I'm surprised how often people have no idea how to get a deal. They have been trained by dealerships that this is where you buy and sell cars.
So far, I’m doing fine with a 2001 Nissan Frontier (2wd extended cab). It isn’t the most fuel efficient thing, but it’s reliable and I spent $3k on it. Also, I’m a bachelor so family isn’t much of a consideration.
I am in the predicament of being a mustachian car enthusiast, in a non-bike oriented area. I like cars that are fun to drive and have some character, but also efficient. My solution for now is my ‘90 Honda CRX that averages 40+ mpg. I rarely have to carry people or large loads, so it works for me. I know, if I’m not carrying people or loads, I should be on a bicycle. I do ride my bicycle around my town, but it’s a small town with limited resources. School + work are outside of my town, so I drive. The single 50 mph highway that circles our island (kaua’i) has minimal bike lanes/paths, and the 3 ft wide shoulders are mostly overgrown with grass and trees. any thoughts? (Somewhat of a risk taker compared to the average person, but even I’m skeptical about riding a bike on the highway with unfocused drivers going 50-60 mph within a couple feet of me. Motorcycle? Scooter?)
Me too! Mine is a 2008 Fit and I get 36.5 mpg. My biggest load so far is a 20 hydraulic fully assembled press in the back, but I plan to haul chevy silverado transmissions and engines in the back too!
I frequently buy lumber and occasionally need to move appliances. A pickup is a must for me. I’m looking to replace my 1997 F-150 with a compact pickup. Hope you will cover pickups next
My 2006 Pontiac Vibe 5 door with a trailer hitch could do more than my Toyota Tundra ever could, except pull my heavy ass boat. Glad I got rid of both and bought the Vibe, hitch and trailer instead. Trailer is a Triton xt 4.5 aluminum trailer. Super light. 4.5 feet by 10 feet. Low to the ground and tilt bed. Built my own railing for it. For the rare event I need to haul something bigger, I just rent a truck for a day or by the hour (Home Depot).
I bought a 2008 Honda Fit. I get 36.5 and I use it as a pickup. I have hauled a fully assembled 20 ton hydraulic shop press in it. I can also fit a chevy silverado engine or transmission it it. This car is amazing! This is the reason I didn't buy my neighbors 2010 honda insight that gets 41 mpg, but has no more room than a prius.
Yeah. My neighbor just offered me his 2010 Honda Insight for $4900 with 132,000 miles that get 41 mpg, but I turned it down, because it has no more cargo capacity than the prius. I bought a Honda Fit instead and get 36.5 mpg, but I can haul chevy silverado engines and transmissions in it. It's my little pickup! ;)
I have a 2012 Nissan Leaf that was bought for $8200. Have free fast charging at work and my commute is 1.5 miles each way. In the warmer months I bike, take my moped, or my boys electric scooter to work. Plus, I get paid $20 a month for not driving a gas car to work and using “alternative transportation” to work.
Well said! I had been debating between a Prius and a Honda Insight and a Honda Fit. The prius and insight do not have enough room to haul a chevy silverado transmission or engine. I want to be able to use my car as a pickup. I ended up buying a 2008 Honda Fit and I get 36.5 mpg. I have already hauled a 20 ton hydraulic shop press that was fully assembled in it. I love this car and I don't have to worry about a hybrid battery.
My 2007 Mazda 3 sedan is still going strong after 12.5 years! I’m the first owner, and have been flippant at best about the maintenance. Rarely got it serviced at the Mazda dealership, just wherever was cheapest. Never had a major issue. Just now starting to replace a few things at $125k miles. Mazda forever!
does this get updated every year? is there a list more current? I drive a clown car I got for 430$ I have other fires in my life to put out before I get around to tackling this problem. But I would like to know what I should keep an eye out for.
guys keep in mind, Kelly Blue Book's parent company is the biggest player in the used car market in the US. they've been known to constantly inflate prices. Use your own common sense as well or someone who knows cars.
WOW!!!! I used to read the MMM site a few years back but lost it at some point. When this video popped up as a RU-vid suggestion, I was like "OH YEAH!!!" Awesome you're on RU-vid!!!! On topic, I was debt free for about 7 years. My last car was a 2007 Toyota Yaris which I paid off and drove for about 10 years (yep....) Finally, I had enough saved up after maxing out my 401k, Roth IRA, etc and about 2 years ago I bought a... Tesla!!! It was not for any financial reason but many, many non-financial reasons that I can't really list here. I bought it used of course. And it's almost paid off already. And I do have quite a nice nest egg in the bank. Anyway, I'm not posting here to invite criticism. Mostly to say follow MMM (and Dave Ramsey) because the advice WORKS. I put my time in for a hard decade of saving my ass off, and all I can say is now life is damn good! Keep up the good work MMM! Subscribed! P.S. G DAMN I love this car. Teslas are freaking amazeballs.
I can attest to what he said about how good snow tires are. I also have a 2005 mustang with snow tires and I have been on the steepest street in town (As steep as san francisco streets) up her in ND and I have come to a complete stop half way up the hill and lay on it and it claws its way to the top. It is like having 4x4. Growing up I thought snow tires were a joke, but now that I have owned them. They are amazing!
I had the 2009 matrix. It was quick, reliable and fun and nice looking BUT ....it has the most horrible blind spots of any vehicle I have ever driven and I have driven dozens of different make and model small cars and trucks. ( I had to travel and rent cars for work).. I felt the blind spots were so unsafe that I sold it and didn't pass it on to a family member who wanted it even though it was pristine with low mileage.
On the "people who write good ads tend to take care of their cars," I agree. As a court reporter of 20 years, I've noticed that a disproportionate amount of my murdered at home victims didn't make their beds (and often the rest of the house followed). Other reporters noted that a disproportionate amount of at home murder victims had dream catchers or crosses above their beds. Kind of thought that people who don't take care of the little things (like making a bed) don't take care of bigger things (like being discerning about their relationships or habits, etc.) I think the dream catcher/cross folks are just magical thinkers who don't make logical decisions about much of anything. It's certainly not cause and effect. But there is some type of correlation. Thanks for a great video.
Yep. I bought 4 new cars and 4 new motorcycles in my life. We did what the idiots on the TV told us to do. Hopefully the Internet will change this permanently
MMM love the video, thank you! The better half will definitely not give up her car, however with 1 vehicle (and me on the bike) this has worked well as a method for our two different methodologies. Thoughts on this, or other ways to look at this? Some followup future vid ideas. Perhaps discuss how someone can get into integrating cycling into their life the best, how you utilize it each day, AND some more followups on that super sick leaf that you have. Once I have installed and posted about my Bafang E-bike motor/kit I will let you know!
Do you have any resources to help avoid lemon years? I know some popular models of cars have a strong negative for certain years which should be avoided.
This was a good episode. I'm glad to see the Leaf on this list. I drive a 2013 Nissan Leaf most of the time and a 2008 BMW coupe, which I really love, mostly on weekends. Both were purchased used and paid off. I'm not a mustacian yet but I think it's a good compromise.
great video. however LOL I did do a lot of this and when I went to the dealership of used cars with a certified check just $1,000 lower than what they were asking they didn't want to talk to me any further. I was forced to bring the check back to my bank :-(
I think I see where you went wrong - the word "dealership" should never enter your vocabulary when buying or selling a used car. They're just a fatty layer in the middle between smart buyers and sellers*. Ideally there would be no NEW car dealers either - we would just order cars online, Tesla-style, and they would be delivered or picked up from the factory when ready. (*okay, I'm being a bit extreme here - if there is a dealer selling a car at a price that is competitive with private sellers, that can be a fine choice. But they are weird, sleazy environments in general, trying to sell you financing and extended warranties and other crap.)
40,000 peeps die every year in America. 40,000. Think about that for a moment... 40,000. Countless more are injured or crippled. In a car crash, mass wins...Period. The NTSB admitted this. (No airbags or crumple zones will protect you against greater mass) Protect your family by putting them in the largest and heaviest vehicle you can afford. Your families life is not up for budget negotiations. The largest vehicle ALWAYS wins in a crash.
You have a good point - bigger/heavier vehicles (especially with square fronts like trucks) are much more dangerous to other people. Because I would rather *NOT* kill anyone, and if it came to a choice of killing someone with a motor vehicle or suffering that fate myself, I would rather be a casualty rather than a murderer, I always use the lightest and smallest vehicle I can for any given job. For 99% of my trips, this is my bike or my feet. However, your physics aren't quite right - mass is one factor, but crash design is more important. And accident avoidance and driver skill are the most important of all. So I took advanced closed-course driver training and pay attention and don't use the phone in the car! The Tesla Model 3 is rated the safest car in the entire US market in the event of a crash, but it's also one of the best handling cars you can buy, so it will avoid most accidents that a clown truck (or, admittedly, my poor-handling van) would stumble right into. Which is one reason I avoid driving cars in cities or anywhere that pedestrians might be around. Finally, while 40k car deaths per year is a big number, it's still negligible compared to the 2.8 million deaths from all causes we have here in the US - and about 2 million of those are due to being out of shape - i.e. driving cars/trucks too much. So if you care about safety, forget about hiding in a clown truck, and get back to the squat rack and the pullup bar and the salad bar instead.
No. My classmates had both of the Geo Metros. The 1992 and the 2001. They both blew up at low mileage. The little engines work to hard. They pushed theirs into the tree rows. They are ok if you can rebuild them yourself every 100,000 miles.
One thing you forgot to mention about Craigslist: 95% of the listings are flippers and dealers. In looking at the listings and corresponding with the owners, try to filter these out and stick with real sellers for best results.
Been driving a 2010 Prius since... Well, 2010. I haven't had one service light or issue in the entire time. Not one.... Love this car. I'm planning on driving this thing until the wheels fall off.
Bonez1999 yo this is a really late comment that you probably won’t see, but how has it been now? I’m about to turn 16, and we have around $5000 to spend. I’ve been looking at Civics, corollas, Mazda 3s, but I am wondering about the Prius. Namely have you had to replace the battery? How long do they last, and if you have how much does getting the replacement cost?
@@loganbittner6265 Battery still going strong. If you want a reliable car that's gonna run a long time with minimal maintenance, the Prius is it. Since I haven't had to replace the battery yet, I'm not really sure how much it is. I know prices have definitely gone down. A new battery I wanna say may be a couple grand or so, but I think you can also get after-market batteries that are cheaper... But probably not as good. I love this car.
no. keep the car. a subaru will last longer than your next two 5000 dollar cars put together. it's not a porsche and if you take care of it you can drive it for 15 years.
What bout a $6000 lancer though?Is it good for a weekender?Sure looks handsome though once i put the evo X bodykit on it..im searching for that considering my $1500 kia spectra is getting weary after this 5years
1. Thank you for your blogs and summaries over the past few years. While I'm nowhere near Mustachian levels, your blog helped me choose a car (I had a ridiculous bus commute at the time) that is still going strong today and that I hope to drive into the ground (2008 yaris hatchback bought in 2013). It's been amazing on maintenance and gas :) Your posts have also helped me find what I value and be moderate about some of my spending. It's been a good change of perspective (though I still disagree about biking in Canadian winters!) 2. Aww the Yaris got dethroned :(
True. But in my case, someone who's family likes to camp, go off-road, to the beach and generally haul stuff, a jeep GC has fit the bill. I have looked at rav4, CrV, Grand Vitara, Kluger, but storage, the ability to camp in the vehicle, the GC won out. Plus they are not very dear if you go 06 to 10. So everyone's case is different. I myself drive many vehicles and most small cars on this list are just too small for me. Tall with long legs. Plus, if you have a dog, even a small hatch back is too small for our dog to be comfortable.
Cars are not a waste of money, not in the USA or anywhere, really. I drive my VW T6 Bulli all over Switzerland and neighboring countries like Italy, Austria, France, and Germany. It's reliable, good-looking and great for going up and down mountains, through snow and carrying lots of people and baggage/equipment. It makes road trips sooooo fun.
The first gen. Pontiac Vibe is a gift from god to mustachians needing a car. They are re-badged Toyota Matrix so needless to say they are pretty much bulletproof. They're also cheap on gas, cheap on insurances, cheap on maintenance, pretty versatile, easy to work on and mostly cheaper to buy than Matrix's.
Yup, I have a 2004, It was given to me with a blown engine and I sourced a used one out of a junkyard and installed it myself. Fantastic car and even with over a quarter million miles gets 30+ MPG
Definitely agree. Had one with AWD for a long time with zero issues. Would still have it today if we weren't rear ended by an F-350. We were stopped at a red light and he was texting and slammed into us going 30+ mph. Everyone (including my toddler and dog in the car) walked away a little sore, but without a scratch.
Got my 2006 Pontiac Vibe Base Model with manual transmission in 2010 with 67k miles for $7000. I'm currently at 240k miles with only regular maintenance. Same exhaust! I love this thing. Hope to get 100k more miles. Tows my utility trailer great (no need for a pickup).
What do you do if you have 3 kids in car seats and part of your life enjoyment is outdoor hobbies(i.e. Backcountry fishing and hunting, dispersed camping, etc.) where you need a vehicle with superior off-road capability. Is the crew cab 4x4 truck then rationalized? I'm thinking 2015-2019 crew cab f150 with small non-turbo v6, 3.5l or 3.3l depending on year. More fuel efficient than new Toyota Sienna. I don't think a RAV4 will handle what I'm talking about. I'd go older but they are far less fuel efficient
Just got my wife a leaf because she drives such short trips, the combustion engine couldn’t heat up. As a result would have issues after a few months, need new spark plugs and such. A used leaf with 68k for 8k was perfect. Then with solar we charge when its sunny, dirt cheap per mile driving
