What Most People Get Wrong About Cars | Dave Ramsey's Greatest Hits 

“They are brain damaged. Their parents are cousins.” 😂😂😂

Man, I miss these old Dave Ramsey videos where it felt like he was talking to you one on one.

Every time I see or hear on the radio the Ramsey show it really is unbelievable what people do with their life/money especially when they are over 65 years old and have to work. It is heartbreaking and very sad. I came from India (the largest Capitalistic country in the world) where we have no welfare, no social security, no free school and no mortgage, just maybe now it is possible to get a car loan, so our parents (especially the father teaches us kids to spend money wisely and invest in the future) so when I came to the US, I followed my father's footsteps to build successful future. I did not follow Ramsey's baby steps because I did not need it (I have full respect what Ramsey says to the people in trouble) I hope there are more and more people who listen to Dave Ramsey before they get into trouble and make wise decision in life......keep up the good work👍

Close to 2m net worth no debt and my car is a 2015 Mazda minivan I bought used for $10k. Loving the car and living in my dreams not caring about what other thinks.

My son worked from high school at a small airport, did 3 yrs of aeronautical engineering then was needed full time at the little airport. He went back full time and studied on his own...no school and git his mechanics license, then one of his 2 days off worked on helicopters and that money all went for him to get his pilots license within 2 yes, then went on to get his license for doing yearly plane inspections. All done on his own. Now still working 40 hrs a week at the same place but the on call mechanic at the local county airport even on his days off. Proud of him. Pays cash for cars. He is am example for your show. He is 55 and been married 38 yrs, they have 5 rentals from tax liens.

Man, after listening to new ramsey show episodes for the past year then hearing this, it’s so much better listening to old Dave by himself.

Bought my only new car 9 years ago. Started as a lease, but I saved enough to pay cash for it at the end of the 3 year term. Lost my job at the end of 2019 (and struggled to find something new during COVID). Having the car paid off was such a relief and it’s still going strong today. I live 2 miles from my new job, so the car only has 72,000 miles on it. My previous vehicle was a 1997 Silverado that I bought in 1998 and drove for 17 years, so I expect this car to last at least another nine years. Just building wealth debt free, now. On track to be a millionaire in 6 or 7 years.

If BMW stopped financing Persians and Armenians in Los Angeles, their entire North American division would immediately collapse

My car is a 2012 model and do not have to make any payments on it. Last year, I had to pay about $2500 in repairs just to be able to drive it. I’ll take that over any car payments any day.

My husband 's dream had been a Platinum Sequoia Toyota since his 40s. Before he got it, he'd been driving cheap used cars for years until he bought it at 67K in 2019 with no loan. He enjoyed driving it for his early retirement at 62- yr old.

I retired last year from hospital admin job after 22 years of service at 60 years old. I got financial management counseling for two years prior to retiring. Paid off my car last year. My husband is retiring in 5 years from the post office & I double his contributions to the pension plan & the post office matches. Last year we got a 10k gain on his pension investments. We purposely have shared one car the past two years to go to work (I worked in daytime for 30 years & he works evening shift for 29 years at post office). Prior to that we paid in cash for used cars, to avoid car payments. We have a 2018 Subaru that I paid off 8 months early. Now I’m working on paying off our mortgage, so in five years we will be mortgage free when my husband retires! 😊❤️

This first guy on the show is a perfect example of why I do not support student loan forgiveness. 27, living with parents, $600 car payment, and $10,000 in credit card debt and broke!

I grew up in my dads used car business. Im 33 years old and have been driving 5000 dolar paid for cars my entire life. One of the best financial lessons i took from my parents was drive good used cars.

Regarding Feraz. Thank you Mr Ramsey for helping out a young man who made a mistake.

I got a 2007 Honda Civic for $4,000. I’ve been driving it for 5 years now and it’s never had a single problem. You can buy a reliable point A to point B for cheap. Enough with these car payments!!!

This man with the BMW problem, is exatly why i told my son at the age of 23, that in two yrs, at 25, he will have to go out on his own. He needed to learn how to take responsibility for himself. He is now, 52 , and is very much financially secure, and will retire when he is 55. He is not college educated, but is self educated financially. 👏👏👏👏👏👏👏

Learned a little about cars growing up and have never paid for repairs, done them all myself. There are so many things you can do on your own that for some people would mean the difference between putting them in a bad financial situation. I think the concept is under-discussed

I love Dave's comment on whole life insurance being a rip off. He is 100% correct.

I only had a mortgage. Found a vehicle I wanted. Too low of price not to buy, damaged title, didn’t care about any of it. Financed it to talk the dealer into a lower price and warranty, and didnt care. Not waiting till I’m 65 to enjoy life. Paid the loan back after 3 years. It’s relatively easy to make purchases for yourself when you are in control of your finances. These people calling in who have less than a jar of dirt to their name, who have 60k in CCD and some how were approved for 50k auto loans are exactly the folks who need to listen to Dave.

I'm driving a 2002 car and have no debt. I hope everyone else decides to live a debt free life of peace.

Unbelievable. I am a 67 year old multimillionaire doctor who drives a 19 year old buick. Great car that I hope lasts 10 more year.

What I don’t understand is, on one hand we are told the stock market will crash and yet on the other we are told ways of investing in the stock market. Oxymoron or paradox? I'm considering investing over 150k, but I'm uncertain about risk mitigation strategies.

We keep cars forever.Gifted our 05 chevy to son to haul stuff,2010 camray to daughter.Both have near 300 k miles.Hubby rode hard daily for nearly hour commute.They are still going...

I have been driving a 2006 Toyota Corolla since 2011. No car note since 2013. Love the freedom of being car note free!!! 🎉🎉

The car load company also got my brother too. The company tried to get my brother to buy add-on packages that increase the price of the load. For those young people trying to buy first car, find someone with experience to shop the car with you.

Thank you for all your work and sharing information!

I stopped taking out car loans years and years ago. If I don't have the cash, I don't buy it. I own 2 cars, fully paid for. I'm saving up for a used Ram truck!

2023 was a hell of a year, I have made $250,000 before taxes as the sole breadwinner and head of household. This is a great starting point and I’m very aware how blessed we are to be in this position, but I’m always looking ahead on how to improve. I currently have $88K left in student loans (originally close to $150K) and very little credit card debt (less than $2K with more than $25K available). I have two auto loans totaling $100K for two electric vehicles at 5% interest. I will appreciate suggestions from anyone who has been in same shoes on how to go about them.

SOME people who drive fancy cars get them to impress other people. Truth be told, people dont care what kind of car you drive.

OMG. Dave "I want it so I am going to go buy it, uh" -- Hilarious

...having a BMW while living at home with Mom and Dad....wow what a flex 🤣🤣

$22/hr as an air craft mechanic in LA????? I’m in Sacramento as an auto collision estimator making $32/hr. No formal education, 24 years old. I thought air craft mechanics were paid more.

we have no mortgage. zero loans. 80k in stocks and 80k in savings. we drive a nissan leaf.

I have a 17 year old Civic with 120K on it. My first Honda and I am positive I will buy another one.

Fantastic information- I learned so much. Thank you for taking the time to make this video and share what you learned. Everything you shared I had questions about. Your amazing and so reasonable in your thinking.

work until you die,enjoy the ride.

I am about to buy my second car, I really needed this video to remind myself to not go overboard

This lady about the truck... "One more question..." Dave answers. "Oh! Thanks! One more question..." Dave Answers. "I see! One more question..." What a joy she must be to live with.

As a car guy with a few nice cars, they are an enormous waste of money. For a commuter car, buy a reliable used Toyota or Honda (naturally aspirated if possible), maintain it, and you’ll barely notice it exists in your annual budget. If you live in the rust belt, get an oil-based undercoating every year to prevent it from rotting out. Aside from Lexus, luxury cars are junk quality and depreciate accordingly, so try not to buy into the brand marketing. With all that said, I’ve sacrificed in other areas to own nicer enthusiast cars. Not to impress anyone, it’s just a very expensive hobby I enjoy lol

I lived for most of my life in expensive neighborhoods. None of my neighbors bought a new car all the time or hoarded them. The wives did not go shopping all the time and did not wear designer clothes. They did not buy their kids insane gifts but told them the ins and outs of the stock market at age 12. None of my neighbors wives looked like Miss America most everybody treated their housekeepers with great appreciation and gratitude. Being a housekeeper for these people is usually more fun than being the manager of a grocery store.

When i heard Feraz and Los Angeles i already knew it was an Armenian with a BMW 😂. I feel that its in Armenian culture to have a BMW or you are shunned by the community.

“All in one accord”🤣🤣🤣 13:00

Even with 2 Porsches each increasing 100% in value I've spent too much on cars over my lifetime.

I bought a new car in 2014 after driving two used cars. Paid it off in 11 months. I'm still driving that Civic today. Bought a second car last year that fits two car seats, a used CRV (2019) and we paid cash. No car payments. I hate paying interest.

For the most part, poor and middle-class people tend to treat cars like jewelry. Rich people tend to treat cars as transportation.

I use my credit card every month, but I pay my bill in full every month. I been debt free since 2009.

I have a 14 year old Toyota with 160,000 miles. Runs great and have not made a car payment in over 8 years. Thinking I might get a new car when in maybe 5-6 years.

$501 average car payment. When was this recorded, 2016?

Love Dave everything he says is true l wish he would teach this stuff in schools in America, and in the UK and anywhere else thanks Dave keep the videos coming and let’s spread the word 👏🏽👍🏽👊🏽🥂

Yup! Did car payments twice and then never again. The last one because I had absolutely no credit score to buy a much, much cheaper used car - so I got suckered into a terrible purchase. I survived.

I bought a 1998 chevy half ton in 2012 when i was in high school for 2500 bucks and drove it till 2 years ago when i bought my 2009 gmc pickup for 2500 bucks. To be fair, my 2009 needed the entire front suspension replaced and all the brakes, as well as a windshield and all the tires. I did all the work myself other than the windshield and i still drive it every day. I still have the 98 and its come in handy as a backup vehicle. But ive never once made a car payment and im very happy about that!

I drive a 2008 lexus IS-F and a 2009 lexus I250. Both paid for and I fix both myself. 170k miles on the 250 and 113k miles on the F

Thanks for the advice. 😊 little more confident now…

I have a car, and a pickup (for our farm), both 100% paid for. But I do use credit cards - NEVER carrying a balance, I pay them off 100% when the monthly bill comes in. I think it's good to get the discount points / rebates. Where am I wrong?

The rich people in my town in the U.K seem to drive Bentleys, the wealthy people drive battered old Volvos or Landrovers.

I've always loved "amputate the Tahoe!". I'm at the point in life that i bought myself a loaded, low-miles 2019 Tahoe 6.2 last year for 55% of original sticker. Freaking sweet ride, and debt free 👍

I know a man that has been leasing his cars for decades. He likes to drive the BMW's, Mercedez and Lexis and he likes them new, clean and modern. He has spent hundreds and hundreds of dollars a month on these leases, one time one car was about $700 a month, to lease! He turns them back in and starts a new lease. So, he has been making huge car payments for about 20 plus years now and still does not own a car.

One of the surprises of my adult life is looking at the choices friends make and thinking “… I thought you were smarter than this”. Much of this includes cars and houses. Stealth wealth is the best because you don’t get people up in your face about it and your stress levels are so much lower.

First one, going to school for 22/hr... man that's tough. Im not flexing i just want to tell people, my job pays 25/hr and im 19 with a highschool diploma. If you need to start a snowball of good income and good finance the midwest is where you gotta go.

I’ve had my 2009 Pontiac g6 since 2016. I got it for 5k, and maybe put $7000 into it. But it’s drives beautifully today and I’m not getting rid of it until it’s done

I got a 4K Toyota Scion on Craigslist. Two years later it runs fine.

The future belongs to those who believe in the beauty of their dreams. Success is a state of mind. I think I'm blessed because if not I wouldn't have met someone who is as spectacular as Expert Mrs Lucy Mary Liam.

I agree with the advice about leasing. However, in some jurisdictions (ie. other countries) there may be tax advantages in leasing if it's part of your employment package, so it's not 100% clear cut under those circumstances.

How’d I know bmw boy would be the first clip 😂😂 wow… I’m scared for ya man 😂 classic Dave

Their parents are cousins! I love it!

Bought my 2010 Toyota Tacoma in 2012 with under 7k miles. Got my loan lined up prior but they gave me 0.9 pct so I went through the dealer instead. Got the truck price down and argued up my trade. Still driving the truck and keeping it as long as it runs. My truck is a single cab 2 wheel drive but it does what I need from it

I had a £430pm car payment in 2018 from BMW when I was earning £1700pm.. It was just a case of keeping up with my peers and wanting a fast, reliable car. I decided to end the lease early and bought a used BMW with a low interest loan and cash, best decision I ever made car wise, now I'm car loan free and have a mortgage. Obviously, the other thing you can't outrun is the fact that you need to literally earn more money to be more comfortable in life.

I agree with everything Mr. Ramsey said, except one. Leasing can be equal to buying so long as the interest rate is low. Manufacturers will offer same low interest rate on leases, whenever they have over-manufactured a model with low demand.

"I got fleeced" is a very common expression here in Ireland

I am on baby step 7 and driving a Nissan Sentra for 16 years now 😅 still running good 👍

My fav Dave quote ... "Id like to meet your dad and box his ears"...😂😂😂😂😂😂

I bought 06 f250 5 years ago🎉4wd its got 264000 miles on it now . I only paid 6300 dollars for it. And it is still going strong.

I love the "sell the car show".

Just bought my second paid for car, wasnt sure I made the right decision it was allot, it was newer then I ever owned. Also was not most expensive. I made the best decision using Daves knowledge at the time. Also saved myself a 20k loan on a new one. They looked at me in shock when I said no extra warranty. Thank you Dave for all you do. ❤👌

Regarding Feraz. Thank you Mr Ramsey for helping out a y

Hi Dave,, just recently started viewing you vids. mainly because looking for JP vids i saw where you hosted for an event. i haven't gotten through this whole car advice vid yet but i have a lot experience with vehicles, my advice would be buy a well maintained lexus or toyota. or some hondas or acuras are pretty good, but if folks want to have reliable car and maintain some sort of resale value, can't beat those.. those brands cars will last 20+ years provided about how they were maintained in the past and the prior owners conscientiousness..

11:37 Rich people say stay out of debt but they are the one’s borrowing the most and declaring bankruptcy. So which one is it?

Dave gives top tier advice. The one area I would disagree with him on is to not say things like “you’re going to sell it wholesale, might as well sell it to me.” At that point, you’ve shown all your cards and the salesman has no reason to incentivize you with a slightly lower price. Plus, lots of dealers are super competitive. I’ve seen people who were hard negotiators get great deals because they were humble and didn’t make it seem like they knew the dealer’s business or what the purchased the car for. And I’ve seen people walk in with an add from 6 months ago of the car still sitting on the lot talking about how they would never sell the car get completely blown off. Just be careful with your language when you negotiate. Be humble and act a little bit ignorant of the topic if you have to.

Listening to this as I drive back from buying a six year old, low mileage, loaded, 7 passenger SUV for $7500 below book. Paid cash and made the wife happy.

hahahahahhaa I'm dying 🤣 Dave cracks me up

With that kind of income, he should be catching the bus! 🚌

My car is a 2009 (bought used in 2011), 234,000 miles, paid off since 2015, I’ll drive it until it dies…

Dave: “their parents are cousins!” 😆

Remember this, your car is parked at work for 8hrs then another 8 hrs front of your house or inside the garage, probably most of you driving on average max 4hrs daily. I couldn’t stand the fact that Im paying for fancy car a fortune to the bank for nice shaped piece of steel and aluminium on four wheels and most of a day its not being used.

Wait, so how does $240,000 saved in mutual funds ($500 a month for 40 years) become $5 million? The magic of compounding interest? I want to do that plan!

22/hr sounds low for aircraft mechanic no?

How do I contact the Ramsey show?

I'm crying for this young man. A car for $6000 should be more than enough for him. That car salesman really did him over 😢

I bought a 2018 rubicon new, never gonna do that again 😂

I hope one day to go without a car payment lol. I do agree with the overall scope it's good to not have a car payment, however let's say everyone is smart and drives paid off vehicles...how does this effect the sale of new cars, and further the jobs and people who earn their living at the plants to build the vehicles/parts.

College guy needs to fix the reason why he needed an BMW for his self-esteem or pride.

$600 car payment? Making $1200 a month. Sell the car and ride a bike

The advice Dave gives Suzy about negotiating a price between trade-in value and private party value is unrealistic. Those deals exist, but they are the exception, not the rule. A dealer is usually only going to do that if a) they "stole" the trade for an unfair price thousands below book value; b) the car has major reconditioning issues and so should be sold for less; c) the model is not popular (or the dealer is not great at marketing) and so the car sat without selling for 60-90 days. "Retail" price in the internet age is different than retail price was 30 years ago. It is too easy to mouse-click to 10 other similar offers online. The dealer may have some fluff on the internet price, but they generally will not have thousands.

I will never understand why people sign up for these leases/rents. You put down a big deposit, which reduces the monthly payments then you pay a fix amount of money for the duration of the rent which can be 2 or 3 years, sometimes 4 years then you hand it back and start all over again!?? it's madness. The same with mobile phone contracts, it appears as a bank loan on your credit file. You really don't need a new £1500 phone every 2 years, again why do people do this? we buy our cars and our phones, no payments, no interest.

So how can I get out of a lease car? My lease is gonna expire soon 😢 I had a 4 year lease ….. this June 2024 it expires, I need to figure out if I’m keeping it or buying it out

My parents handed me down a 2021 Ford f-150 my junior year of high school. I am very grateful I had that privilege. 13 years later and it is still my only vehicle and I take care of it like it’s my only vehicle 😂

I totally agree with Dave about leasing. If you lease cars uou will be broke forever.

BMW gonna give the first guy a free car to save from losing sales

I make good money. Have had no debt for over 20 years now. I still buy used cars. Yesterday I walked into a small dealership with 10,000 cash in a bag, lol and bought my wife a mini Cooper with 45000 miles on it for 9000. Cash talks. He wanted 11 but once he saw the cash he relented. Car was cherry. Had one owner and looked brand new. I can buy mostly any car but I still choose to do this. Cars are the worst , most money draining purchase you can make. They do not rise in value and ultimately all end up in the junk yard. I'd rather invest the money in something else. It is too bad we live a car lifestyle in this country. can't really live without one . I have been buying cars like this for a long time.

I saved for years and drove old cars, bought a nice car, I only had 2/3 of the cost of the car, paid it off in six months. My husband was not happy with me but it is paid off.