Ok, so your advice is to buy a $30,000 car for cash? Thanks.

@frankvonfrauner Can get them for less than that..low 20s. Depends on a person's budget and the vehicle.

@@frankvonfrauner I'll sell you my 2007 Ford Escape, runs fine and should last another 10 years for $5K. I bought it brand new for $15K. not sure where you are shopping.

He said it's a 2021 Grand Cherokee. So, he possibly bought it brand new.

dude and then he still has 25,000 more to go what the hell lol no!

He could get a Honda with 10 thousand

I know a repair shop that charges $500 for everything. You need an oil change? They will do a full scale fluid check for $500. You want brakes and rotors replaced? $500 for a wheel and something or other check.

Yes, and that's where the car owner puts his video game down, roll up sleeves and turn a wrench to fix a few things on it. All it takes is watching one quick video right here on YT and having a toolset. If it's a female car owner, tell your bf or brother to put the joystick down and come fix it.

Back in 92 I bought a nice used car for 2400. Today that car would go for 12000. You don't buy a nice used car cheap any longer. A " 1,000 " dollar car shows you that Dave doesn't live in the world that us average people live in.

@@Primitive_Code And if you for some reason mess up, you are now out $ for all the supplies you bought, more problems you still have to fix, and then taking it to a mechanic where they fleece you.

@@wewhoareabouttodiesaluteyo9303Yep, definitely don’t always save money by DIY and almost rarely save time.

This is true with ANY vehicle

Exactly, he doesn't understand

Yes you can. I just got on my local fb marketplace and found 7. Try it out for yourself if you think im lying.

Exactly he don't know how much anything cost now,too rich too know

@@Sincity725 right

That may be true. But that doesn't mean you need to spend 10 or 20 or 30,000 on a car and that doesn't mean that you need to spend ridiculous amounts on rent. The principal is still true that most people make way too many excuses for not cutting their lifestyle back

I recently sold a truck for $1000. 1985 Chevy C30, crumpled front end, needed six tires, torn seat, needed new exhaust, brakes were iffy, power steering leaked, needed tune up, probably needed new carb, etc, etc, etc. You could spend about $7000 on it and have a nice $5000 truck. LOL

I bought a 2001 Toyota Corolla 5 speed manual for 2,200 dollars over a year ago. It was a beater, but I use it to save on gas sometimes instead of driving my truck. You can get a cheap car, but it will be crappy.

​@@strangeroamer3219 I just watched a bunch of auto auctions at tow yards (150 cars trucks) in Jacksonville Florida, they where sell running vehicles with keys fob, 475 and up, sold a hellcat 24.000, you can buy cheap vehicles if you research it.

@@strangeroamer3219 How much maintenance did it need?

@@josephhuman7390 No way would I buy used for $24k. I would buy new for under $29k.

@@wewhoareabouttodiesaluteyo9303 Just a few things. It needed new tires, new new spark plugs, some electrical work done, oil change, a few others things, a few of them I did myself. In total I invested a little less than a thousand dollars more to get it running good, but now it is good and I am debt free. No car payments to worry about. And I save a lot on gas.

He said "We're renting an apartment" so maybe there is a girlfriend?

I played the homeless game for 6 months and showered at planet fitness to avoid re signing my lease. I saved so much money over that time. The only down part is having to buy food everyday at a bar or drive thru since you can't save leftover eating out of your car.

@@tsaunders4684 I'd say in that case he better move in with relatives or friends for a few months.

Only buy a car in cash.

It's a blue collar job. Not big money. He's lucky that it's been steady.

A lot of law enforcement in my area work 70+ hours a week and make less than $60k a year.

@@Qu33nHUDDY , and then they retire down south at age 40 with a healthy pension. I know, because my entire street is retired cops, and my street the houses are 450k and up.

Probably take home pay. It would have to be. I do the same job and that was about the take home last year working those kind of hours. Still not great it depends on the are but if working 40 hours only would gross you 45k I think it’s pretty obvious the math checks out.

​@@stevegolacks8731When you're already down south that isn't an option. Not all law enforcement has a good retirement plan. My in-laws recently retired and the two of them each only has $180,000 in retirement after working 30 years and maxing out their retirement plans provided at work. If my husband were to only rely on his retirement plan provided at work he'd never be able to retire.

We've done that with Hyundai Elantras and are very happy with them. Very reliable cars.

What kind of used car did you get? Probably unreliable and didnt check by the mechanic 😂

All the people who bought vehicles during the pandemic are paying the price. Never understood why people will pay inflated prices, but won’t buy when there is a bargain.

Lol how u get upside down I bought a gc with 2k miles on it financed 30k after my trade in . I owe 18k and offered the other day 31k for it 2019 Jeep . U all must have 15 percent interest rate . Lmao

Less than 2% I’d say.

Because they can't impress people with owning a Toyota. And to some people showing off is all that really matters.

Being sensible is no fun. Drove my Toyota for 28 years. No one was impressed except my banker. 😅

Because my parents would be livid. They always want to buy new; however, they have a point too because they never were in debt at any point of their lives when buying new.

Are your parents building the car themselves? If not, they've never owned a new car.@wewhoareabouttodiesaluteyo9303

@@robloxvids2233 I see what you did there.

Because having a reliable car is essential to keeping a good job, and if you don't have any money, you need to finance to get on the ladder.

@@frankvonfrauner There's a difference between a $2000 car and a $50,000 car. That's what I'm talking about. And Ramsey does too. The only time I ever spent a lot on a car was because as a regional sales man, I "lived" in my car. Even then, it was used.

A lot of us that have done our debt free screams did it…and are helping people do it now.

I did do it . . & it sent me into even deeper debt!! Just saying!!

^You did it wrong somewhere. You have to know how to check a car when buying. Either that or just bad luck.

I tried it about 45 years ago. When all the local tow truck drivers and you are on a first name basis you find out this doesn't work.

High maintainance cost, insurance, tyres, .... . He could move in with a friend or family for 6 - 12 months and save up, and invest 8k in a Honda or something like that. He can drive that car for a long time. Also, if he crashes the car it is not THAT bad. If he has a gf (that he does not want to admit too on national radio - maybe she can help him out, or a family member. Buying a moped to have cheap transportation would be possible.

0?

This probably worked back in the 80s and 90s. Now everything is so regulated and structured it's unlikely anyone willing to talk to you has authority to make a decision other than follow their standard default waterfall.

Almost zero chance unless the interest rate is crazy high. Likely this guy has a too high debt to income ratio and with credit at 550 a credit union won’t just give you 10k unsecured. This guy is in a deep hole.

That's why they said to get a loan.

No, it’ll be the opposite. The depreciation of his car will continuously slow down while his loan continues the same speed. The number will probably actually decline very slightly.

@@adamseidel9780 Naw, used cars are tanking and he's probably in a high interest 84 month loan not making a dent with each payment. He'll be underwater for 5 years.

Anything under $29500 now for a new car is a steal, if possible. Back in 1938, a car was $860.

You mean Christler? Bu dum tsssssss

I was very confused about that. Did he just have a girlfriend and wasn't sure if he should say that?

@SouthernLife7772 Ahh good catch. Didn't hear that

He hesitated because he got a baby momma.

@@miketheyunggod2534 Maybe more than 1.

maybe he's with an illegal alien whom they have kids with "birthright citizenship"

And I went to college, and now work 37 hours a week, and made the same as you 10 years ago.... The American dream is alive and well. The caller needs a new job, but so do you. 80 hours a week, no human being should endure.

A bad credit score will count against you. What you should have is NO score.

he explained why. so youre just here to be upset apparently

I have been driving $500 cars for 20+ years and get 2-3 years out of them with very little spent on repairs, I do them myself. I had 1 that needed a paint job so I used a gallon of tremclad, roller and brush for $30. Looks don't keep cars going. Good, cheap cars are out there, they usually had 1 owner. This is just one of many reasons I can pay a mortgage in 5 years (while raising 2 kids 100% alone for the last 12 years). Only an idiot would buy a car for 1K and put 5-10K into it. Just buy a car for that price range. If a person has cash and can get a mortgage, credit scores have no value. The bank didn't turn down my 20% DP, WITH NO CREDIT HISTORY. Money talks.

i've had late model cars cost me $8K in repairs and junker cars cost me $800 in repairs.@@danieldoucet9121

@@danieldoucet9121 The key to your response is that you can do the repairs to the vehicle yourself. A lot of people do not have that skillset and fewer still have the scan tools and other equipment required to work on today's cars. If you have to take a vehicle to the local mechanic every few weeks, you are spending as much as he was with the new car.

Dave told he to try with a credit union, but he was not hopeful. Therefor - TADA - he said him even borrowing 10k on a credit card would be better. Then he can find someone that pays 25k, add the 10k and knock out the car loan. Maybe he will have to take the bus for a while ;)

With caravans it’ll hurt

NOPE

Nope they will bait and switch u

I know. I look for the cheapest pre-owned cars on the Toyota website, and they're all like $8K dollars min.

I laugh every time Dave mentions "a $1000 car". They don't exist. Around here, anything that runs and drives and passes emissions testing (required here) is $2500+. There are no longer $1000 cars you can actually rely on to get you to your job. Inflation killed that.

@@DJRiyzen I just don't know if I can trust buying a car from there.

@@cwheeler42he never says you won’t have to put a litttle into it. We bought a car for $800, threw a new alternator in it & it drove for 3 years sir

​@@ghostbird92 wrong website

Dave always said to knock out the biggest depreciating asset first before snowball

​@@unfairsanic5089not in his books though.

It can be fixed he gotta get another side job

It is not about crappy, it is about needing to invest seveal thousand dollars per year to keep them running. Plus the stress. If the brother is mechanic and lives nearby (and he inspects the car) maybe ... If there is a second reliable car in the household a 3,000 USD car might do. Almost all cars get severe problems when they are over 12 years old, it gets expensive to buy them cheap.

Recently a caller, car enthusiast, so the advice was to sell 1 or 2 of the cars. Well in his collection he had a 10 year old Honda, with high mileage, he knew that car was worth 10,000. This is a good reliable economical car that can be droven down - and they hold their value very well. Same with the reliable Toyotas.

@franziskani it depends on the model of honda. Plenty of rarer models, s2k, the em1 etc. If its 10 years old from now the only thing i could think of for a 2013 would be the mugen SI. But those cars are exceptions for the norm.

@franziskani i have a 2008 year car, and i have very little issues. I follow the recommended scheduled maintenance, oil changes, fluid checks, tire rotations, etc, and my problems are essentially 0. Please dont believe that older cars are all just falling apart. This is a lie. I've always owned cars that were older than me at almost every point in my driving lifetime. I've only ever been stranded once in 17 years of driving. And it was from 2 blown tires.

@franziskani another point is that if you are in debt and it takes 2 years, that's all you need to maintain an older car for. In 2 years of regular maintenance, you might spend 2k or 3k on transportation at most. Not including gas, as any car uses that. If you were to pin that against a car payment, youd spend way more on a car with a car payment.

Finance something else huh????? Some people never learn......

Hours is not a wage label. How much is he making?

@@natersalad889 But have can make a lot more. Into the 6 figures.

@@wewhoareabouttodiesaluteyo9303 He said he's making 65k.

It's a Cherokee. I wouldn't even accept it as a gift.

@@strangeroamer3219 LOL 😆

@@strangeroamer3219 😆

Sorry to burst your bubble but it got flushed and is floating in all of our poop

@@HOLDXSTEEL Goldie....nooooo :'(

@@wewhoareabouttodiesaluteyo9303 Sorry about your fish 🐟.

@@strangeroamer3219 I had won, I think it was a him O_o by winning that game where one throws a ping pong ball in a glass bottle.

The car loan interest might be higher than 8 - 9 %. But even if not - it is for 35k (the open amount) and not only 10k. If he strategically draws the 10k on cc he has almost 30 days interest free. And the car continues to depreciate quickly. Never mind if the vehicle would be damaged (storms, hail, car crash, even a bender. Damaged glass screen because a stone hit it .... ) This car has also high maintance / insurance costs. As soon as it is gone, he saves that money as well. 700 USD for approx. 13 to 14 months should do the trick. And he has to find a way to finance reliable but cheap transportation. That's another 5k - 8k (no reasonable 1k cars to be had).

But where will he get the 10k to make a trade?

How much was maintenance?

He probably had no money left to maintain it!! Lol smh

Interest rates

Dave shows that he's not in touch with the average persons world.

@@musicman7297and he doesn’t wanna be…

The cc will be more like 20 % and the car loan is not better. The car has high related costs (insurance, maintainance, typres), a Honda or Toyota will be much cheaper.

The loss is there whether he covers it now or later (and has high ongoing costs for insurance etc).

In Houston? 😂

A moped.