Buying a new car in the military is the worst mistake anyone can make. Period!

A buddy of mine bought a hellcat while we were stationed in Hawaii. E1 with a 60,000 car loan not even 1 week on the ship. I asked him about the loan and he showed me the paperwork. 6 year loan with 19% interest for 750 bucks a month. I asked him about insurance and he says “We get that through the military bro”.... Wrong! 450 bucks a month insurance. So 1200 on a car and he just bought a new iPhone and he was expecting a child with his ex girlfriend. 18 years old and his life’s fucked. So that’s why I walk to work, because we live 300 yards from the ship, IDIOT!!

It's funny that you even have to explain to people.. if you spend your money like you just dont care then you won't have any money to spare

Here’s my method to my madness. Basically all you have to do is SAVE SAVE SAVE for at least 8 months to a year buy a used car from Craigslist that is in good shape and to your liking. Then SAVE SAVE SAVE again and you can buy you another car that’s even better in the next few years and even sell the old one if you want. 😁👍🏽 it’s all about strategy and finesse

Video on best side hustles when in the military please.

Just the title alone hit different

This is so true. I remember when I first joined and got to the barracks and seeing all those new cars. I had a 2000 Accord and 07 Subaru that were already paid for etc. All I did was save and eventually bought a motorcycle cash. Over four years later and I still have them. Never had any car payments or expenses that weren't needed. Got out the barracks and started making Bah. I rent a room and don't even use half my bah which is 2160 since I'm in Cali. For over 2 years I've saved 2,000-2,500 a month. I'm kinda cheap and don't buy shit unless I need to. Just got back from another deployment and thinking about getting out in January and I've managed to put away 60k. By the time I separate and go reserves, I would have put away like 75k in the time I've been AD.

And the stripper at the local strip joint does NOT love you the entire month; she only loves (if you want to call it that) you twice a month, on the 1st & 15th.

Absolutely LOVE the financial videos!

I taught my Marines and Sailors to lease their vehicles and use the SCRA to turn them back in when they deployed. You can get a more expensive car for less money. This only works for people deploying OCONUS for at least 180 continuous days.

Because they don’t know how to spend their money

My head: Do you really need a car?

I remember when stationed at Ft. Hood, which was surrounded by predatory car dealers one of my friends went out bought a brand new car which sucked half of his salary then 1 month after buying it he was given orders for Korea. This seems to be a problem with the bright eyed kids coming out of basic with huge bonuses or just young peeps who just never worked before joining.

Great advice. 👍 I hope young sailors and marines joining the service heed your advice.

Love the Type R, great choice and great vid Nicky!

You can buy a really nice and reliable car for $5000

Solid advise, saving has always been a thing for me. I dont mind cutting back a few wants to get my needs. Its all mostly about long term for me, im a decent miser. Trying to learn as much about military financing and how i can use it to its full extent. Thanks Nicky👏🏻

This video is absolutely fantastic

I fucked up and bought a new Harley Dyna wideglide when I finally got to the fleet and had some libo. Everyone wants to finance any E1 and up. Be careful don’t jump on any deals people, it’s freakin tempting when everyone wants to get u financed. Be smart, don’t buy anything, just save up and buy something cash. Roger that🇺🇸

This is the best advice of all of your videos

I hope i can keep my money close by and safee. Thank you for the information Mister Man

Aye bro love your videos. I’m in the process of getting into the Air Force hopefully. Keep doin ya thing, you make a big impact

Great video

Leaving in a week for basic, keep up the grind fam

Alcohol and needless shit from the PX and online. Oh, and purchasing a lemon within 15 miles of base.

Absolutely Stellar, Great stuff and spot on..... Thanks for taking your time to explain this to the younger generation. I remember when I was stationed in Europe they use to just pass the cars around. Someone bought a BMW, Probably used years prior and it sold for about 1000 bucks around 30 times lol. I bet it made 3000 trips to the Frankfurt Airport lol. At one point I wasn't even sure who owned it, the keys just hung in the common room and you basically signed it out so someone knew where it was. lol.

As always let's get right to the topic!

Best thing I ever did was to buy my car straight cash before I joined the military. I had it for 2 years before I joined, and 2+ years after I joined. The only thing I had to pay was insurance and gas every month $150 max. I smiled to myself when I see my friends with $300+ car payment plus insurance and gas, and life was great. I told myself I will never buy a new car ever, and I'm holding to that.

I just arrived to Corpsman A school and every Saturday when new sailors arrive they always go to the big exchange and drop hundreds of their earned bootcamp money , it’s pretty nasty

Take a sack lunch to work. I spent so much on fast food, snack bar, .... Eat well from home

My husband is graduating the Navy tomorrow , totally making him watch all your videos. He has the outrageous idea of buying a Tesla even though we have a very nice Nissan Juke 2014 awd. I have the car bc I had to drive to my university out of state, but I don’t see a necessity of buying a car during a school. I really appreciated your videos I’ve been basically managing finances military wise so I really appreciate it

Sailors- "BROKE" cause of, Booze/DAMES.

There’s nothing wrong with getting a new car guys. I was an e-2 and with a 750 credit score my payments were less that $500 a month. that’s pretty good for a 2019 dodge challenger.

Don't get a new car when in 5-7 years its value is no way close to what it was, and it's now a 5-7 year old car. Get a beater in good condition, and you're good. 😂

Nicky I’m here man

I seen an army guy driving a Tesla 🤣🤦🏽‍♀️

I’m glad you got a Type R 🔥 it’s beautiful

Take the bus .metro .or bike .a to b . Skateboard dunno . That work for me

I had a car as a E-3 in a infantry unit. Deployed a lot kept the car in storage that was free.

I ship out to rtc on mar 5 an your vids have gave a lot of motivation

Paid just under 5k for an 05 Avalon, pretty good condition, no major issues, has a great after market stereo from the previous owner, and with Navy Fed I got a great loan for it

Forgot to calculate the phone bill too they gone have like 65 dollars

Cars are a toss up, plus doing maintenance is very important. In 2006 bought a MB that was 8 years old at the time -- only had 59k miles. Last year the car was worn out, was only 21 years old. Put 250 k miles on it. Had lots of commutes as work was over 60 minutes from where I lived. Last year bought another auto 2013 MB vintage. Paid cash $13,000 2iLfor both cars, and keep up the repairs. You never know if a new or old care is an angel or devil for you. Back in 70s and 80s I would do all the maintenance I could do before taking it in somewhere.

You did it right Nicky! I held onto my 2002 Honda hooptie just hit 300,000 miles. Shipping out in March, bout to buy a beater when I get to my command 😎

Pay a good mechanic to inspect your used car... save 500 bucks a month for year, pay cash and have a grand left for repairs... there is always repairs. Brand new cars are a sucker deal for lower enlisted

insurance is def not $200 for full coverage at a younger age. more like 500-600

Shipout on Feb turning my car in since the bank dont let me ship it out of PR... i only pay $430 full cover insurance included for a 2018 Toyota CHR...

Im not doin it for the money, Im doin it for the motivation and discipline so civi life could be a breeze

the type r is my dream car that i can realistically see myself buying, wish u went more in depth on how you were able to afford a 35k car like that

I bought a new car and almost immediately regretted it. I got rid of it and got my current car for $1300 and I love it and hope I can keep it for a very long time. Thankfully my husband is really good with car mechanics so maintenance is cheaper.

BTW DEVGRU train with the Army. OSUT grad, and Airborne grad, Raven grad, spur side, CLS, etc.

Seems like I'll be taking the bus for quite a while

90s and 2000s Toyota Corollas and Honda Civics are nice.

Nice video. Just a quick note, you mentioned the average cost of a car was at some point $27,000 and when you got the newer car it was around $36,000. That is due to inflation. $27,000 x 3% inflation average for 10 yrs = $36,286 which is pretty close to the value you got $36,718. Thank you for the video

Save your money!!!

I got my dream car when I was an e2. Luckily my dream car was a 1993 VW Jetta.

I remember my Chief looking out at the parking lot one day and lamenting about how he had to wait until he was a second class to try and get a "newer car" because at the time, you could tell who had the money. Khakis would pull up in newer cars and Seamen would pull up in the beaters, "Whereas now... It's the other way around." Going on that khakis are probably on their second divorce and paying through the nose on those, but the Seamen were never taught financial responsibility by their parents and how just because you CAN get a loan for a nice car, doesn't mean you should.

I don't hate the advice but rebuilt titles aren't always bad especially if you get full coverage insurance. I bought a 2013 Hyundai Elantra with a rebuilt title for $5000 in May of 2020. I ended up totaling it in July of 2021. The insurance company paid me $8500 for that car.

not in the military but i learned my lesson with my 1st car loan..in 2014 i bought a 2007 Nissan 350z HR,fell in love with it at 1st sight but dealer slapped me with a 16% interest, its price tag from $12,000 went up to $17,000 for 4years...at the end also counting the repairs needed in time, the grand total was $24,000!! for a 2007 vehicle!!..and thats without counting the $170 a month insurance and the $60 every 2 weeks on gas....i had a really good job tht helped me pay it off...but just thinking on how much money i could have saved if i just bought a car CASH instead of financing...never again lol.....highly recommend if u can buy a car cash DO IT

instead of buying a car i'd recommend checking out either a regular bike, or an ebike

OMG... Both my husband and I extended our good credit to 2 friends getting cars, they were gonna get +20% APR... One of them we let her borrow a car(so she wouldn't be pressured) and cosigned when she finally found one. The other one keeps messing up his credit, but luckily didn't miss payments.

I don’t know about cars, but most of the people I served with were immature (at the time ) and they just pissed their money away on stupid stuff in general, and credit card interest. Nobody saved a dime but me and one other person that I knew and they thought we were stuck up.

From my experience the military is legit overpaid. I mean half your time will be spent either napping on a range or mopping stuff, and you're going to be making like $30k/year with a signing bonus for it. Plus you don't pay rent, get free healthcare, free college etc. Heck I barely even paid for food since I almost always ate at the DFAC for free. You really have to work hard to not have money while in the service.

Nice type R 👍🏼

Because no one provides hospitality; cheap rent, etc.

If you're looking for a car use autotempest.

Them ATM boys are still there on the bases I bet, lol that’s what we used to call them those young cats single e-4 and below still living on the ship and waiting at the atm at the stroke of midnight for the check to come in on the first and 15th lol they would be a line at the atm just so they can take out money and go party lol midnight would be different in different time zones too seen that in Virginia and San Diego

Flex culture is ridiculous

Did his mic seem to go in and out at times?

would it be better to buy a house in the states while your stationed overseas?

i ship on wednesday thanks for everything

Good thing I already have a car

So I have a 2016 mustang right now and I plan on joining the marine corps once I lose some more weight, I owe about 19k on it right now and I am paying 350 a month with a 4.25 interest rate, insurance is 180 a month but I also have my fiancé’s car on it and we both have full coverage, what would you suggest being that my payment is lower and my insurance is too, how would that work for boot camp? Like how would I make a payment while at boot camp?

How the type R, i am thinking about getting one.

I’m exceptionally dumb--what’s a beater car?

10 years in, I have a nice car. 800 payment. not recommended for those who are not financially responsible. or new to the military.

Idc I’m getting my M aw

You didn't want to suggest buying a brand new motorcycle for 10k and enjoying it

I dont even need to watch this whole video to answer this question. Lower ranking soldiers can still apply for foodstamps 😵‍💫. When young people realize McDonald's had more opportunities for the same price and less work....they will do their legal time and bounce from active duty. The problem is most soldiers don't understand budgeting! With 2 dollars or 23,000 which is low income in most states. Imagine having children and making 23k a year SMH. Anywhoo, I agree with your assessment and I can high five a hoooyahhh the car buying madness from new soldiers on every base and every branch. Their cars are more than their pay check in a year SMH. Have a budget and stick to it and you will win in the military! Also newly enlisted people need to understand if they have no years in service they will get the bottom pay. E-3 is a great rank but an E-3 who was national guard or reserve for 4 years prior to going active duty will have a very different paycheck! Thanks for making this video cause in day "pay day loans" where killing dreams for active duty people who had no disciple or idea how a budget worked 😔 WATCH THE WHOLE VIDEO, IT WILL GOVE YOU VERY GOOD ADVICE THE EVERY NEW SOLDIER IN ALL THE BRANCHES NEED TO UNDERSTAND!

so how does it work when you get stationed over seas and need a vehicle?

Good thing i already own a car

I'm just gonna assume that some of these guys across the branches are just coming out of high school with a lack of money management.

I bought a fucking bike I’ve been riding a bike all my life and will always do so

What do I. If I want to keep my current car how would I get that to my base ur area

because they use USAA who pays the Lowest interest in the financial industry and denies all legitimate auto Claims

Hey Nick. We're getting +3% this year! I still have my car that I haven't had payments for 7 years now

Why aren’t you talking about the bad shocker things in the Navy that “Traveling With Jose,” points out like: horrible ass funk, no lights for a Week , expired food, no communication for a week or longer/shorter with family, no hot water/ no cold water. No air conditioning too hot/ too cold?

Shipping March 3rd as IT, any advice?

Sorry IDC i have to get dahh car🥴

Well for 2020 E-3 base pay is $2043 monthly

No one would party nearly 700 a month for a car. That’s so stupid

👍

Yeah it is really silly to buy a car especially at a school. If you're headed to a ship, it's even dumber. It's going to sit while you're on deployment depreciating. When I first got to my Battalion (I was a Seabee) I bought a certified pre-owned, but I'd already been in the Navy for two years up in Adak and I met up with my Battalion in Spain so technically I was in the Navy for over 3 years when I got back to Home Port and bought my car plus after 9 months of Home Port I was going on my last deployment to Guam so I was going to need a vehicle anyways. In that situation I think it made sense, but nowadays I wouldn't even think about it. With Uber and Lyft you're not going to need a vehicle. When you are approaching shore duty, then think about it but think about it hard because it's actually cheaper to take Uber everywhere. But if you do decide you need a car and can't wait stay away from buy here pay here places. You miss one payment and they'll shut the car down and you'll lose it they don't care if you're unemployment. They pray on young servicemen.

how much do you need a car in the navy?

but i want a teslaaaaa

I would get something cash that’s reliable beater car, don’t worry about a damn car. Do Not Finance anything, just save up, your living on base or ship so you don’t need a POV. Save up and get that squared away when your in a better financial standing and buy it cash when the need exceeds the want. Car salesmen are turds and are always lookin for the next “E-Nothing” to screw!

obligatory words

I am not broke….

Have you seen the new series 68 whiskey on the Paramont channel

The military is no place to make money… it is a place to learn. The military is the trade school you didn’t have to pay for up front. You had better be spending every dollar you come across on learning something while you are in the military. Remember… you will most likely not stay in the military unless you have no options. Make options. Employers will see that you spent time educating yourself. This could be college, but it doesn’t have to be. It could be any other skill, like welding. In the shipyard… learn to weld. Wandering around wasting time going out trying to get laid is just that… wasted time and money. Don’t worry about being broke, even if you screwed up and had kids. The military will make sure they have food and a place to stay. Study, and continue learning until you are a marketable person that people will be impressed to have you working along side them… this will also be true if you stay in the military. It is true through the ranks of Admiral. Make yourself the guy people want to be working next to.