im 33 and im $10k away from having saved $200k. i drive a 1999 suburban that cost me $2k to buy and ive owned now for 8 years. dave is correct. cars are a debt trap.

Nothing feels better than driving around in something you fully own.

When emotion goes up, intelligence goes down.

Bankrate is saying the average new car payment is over $700 and the average used car payment is over $500. That's absolutely nuts.

"There's a reason you don't have any money. It's sitting in your driveway!" - Jade Warshaw I love it... I'm going to be using that for sure!

Dave, My name is Mike McLean. When I was 15 years old I was given a book written by you that completely changed my life forever. Because of you, I was able to act my wage, (even when I didn’t have one) and was able to make smart decisions that led me to win with money. I am now 29 and I created my first ever KZfaq video and I want to inspire others just as you have inspired me. You are like the father I never had. God bless you Dave. -Mike McLean

My sister-in-law has uttered that phrase, "I work hard and can spend my money how I want" so many times. She's pulling my brother down into the financial gutter with her.

My wife and I decided to go full in on the baby steps and it was the best decision we’ve ever made. My car and my wife’s car are now paid off and we only need $3000 more to finish baby step 3. These steps really work!

Jade is so right. Nobody forced the buyers to go and get a new car. If more people would take responsibility for their choices!

In January, I paid off my used car two years early. It should last 6-7 more years. NO car payment rules!

I'll be driving my 2015 Honda CRV until the wheels fall off!

Yep. Car payments nowadays are the same as rent used to be just a few years ago. I bought a 2004 Crown Victoria (cash) 8 years ago, and I'm still driving it. I'd rather pay an occasional repair bill than pay $800 a month for a new plastic piece of crap. My husband and I have had enough saved for years to pay cash for a new vehicle, but I absolutely REFUSE!!

Jade’s rationalization of folk’s delusion with conspicuous consumption of material goods they can’t afford, but think they are entitled to for validation by others is spot on. Personal accountability is seriously lacking in society.

Bought my first and only new car in 1990, once I calculated how much interest I paid when all was said and done -- on a Nissan Sentra for Pete's sake -- I said "NO MORE!" Got 3 hoopties, all paid for. They ain't pretty, but they get me from point A to point B.

My monthly vehicle payment is $900. What kind of vehicle? Mutual/Index Funds! When people talk car payments I don't want them to feel bad so I just tell them mine is $900.

I do need self-care, and it usually involves a salt bath and curling up with a library book after. A car as self-care?! Crazy.

In 1996 Jeff Bezos (Amazon) a person interviewed Jeff saying you are worth 10 billion dollars, what is up with this car (it was an old Honda car). Jeff said it was a perfectly good car. It's on youtube, look it up. I get this is a different situation. A lot of those people with brand new cars every few years will be the same people at 65 saying how can you afford to retire.

I've been a lawyer for 25 years and I've never had any real reason to complain about my income. How many new cars have my wife and I owned in our lives? None. Not one. We've owned a few 1 or 2 year old cars when we bought them, but we paid cash and kept them forever. I have the money to buy new...and I never will.

My sister is a nurse in an area where there is crappy public transport, especially during the times that she works. She is not good with money but she bought a shitty 4k car with cash (that she borrowed from our parents) and I am really proud of her for that. She has a little debt but all from family and she regularly pays it back.

I'm 35, wife is 30. Paid off half our mortgage in 13 months, no other debt. Going to get it down a bit more then hopefully refinance and start a family. Thank you Dave for giving me the financial education i needed but never got in school

Jade and Dave are a good pair. Jade brings freshness to the discussion, Dave brings his wisdom.

I have a 2001 Ford pickup I bought new through a fleet sales manager friend. I am still driving it because it runs fine with almost 200,000 miles on it, and a replacement is over $100,000.

At 17 i was about to buy a car with 49% interest and co-sign with my mom because i everyone else at school was doing it i ended up not taking it. a year later I found a 2008 chevy colbalt for $500 and bought it with the money i saved up, though people laughed at me i was always happy that i didnt have to pay monthly.

This year we bought a 2007 Crown Victoria (old detective car) for $1700 and gave it to our car repair shop and they made $3000 of repairs. So for less than $5k we had an essentially new luxury car (if you like black cars). Paid cash for the whole thing, Dave. Win!

I had to laugh when Jade started mocking people about "their truth". People will find any terrible excuse to justify what they want by claiming that it's a need.

My husband and I do not buy cars on credit. Our two cars were bought with cash.

You have to take ownership of your decisions. This way you learn from your mistakes. If you blame others you will never learn.

Car payments are money pits. Buy a good used vehicle with cash. Never borrow money unless you absolutely MUST! Student loans are money pits too! I’ve seen PHDs who are completely stupid!

I made a used car salesman really upset with me years ago. I was "looking" at my dream vehicle. He tried selling it to me, wanted me to sign the loan - at something like 20% interest - without letting me see the interest rate. Yes, my credit was bad back then - my fault not his. I asked the wrong questions for him - what was the interest rate. I made a comment or 2 and walked away. It was my dream vehicle, but I was not going to buy it just because... I brought my credit up over the next couple years. The last 2 vehicles I've bought, I paid cash for. I listen to Dave now. I still have a little debt - I acquired the past year. I'm working to pay it off.

Had my truck for 17 yrs. I went to check out car prices. It looks like it's going to be 20 yrs.

Buuuut Dave I need a $1,400 car payment to impress strangers. Otherwise it affects my mental health😩😩😩

Interest rates are 13.5% on AVERAGE? People are absolutely NUTS! I guess the good news is some really good deals are headed down the pike real soon as the repo wave crashes over these reckless buyers.

I am so thankful that I outgrew the car obsession before 30. Partly due to traffic and road conditions and partly due to the fact that my worth as a man didn't come from the vehicle I drive. Now I view my car which is nearly 14 years old with 185,000+ miles on it as transportation from point a to point b and nothing more. As long as the vehicle meets my transportation needs, I'm set.

We paid off both of our cars early a few years ago. The freedom is amazing, and we will NEVER have another auto loan. Thank you Dave!

Self-Care - Jade is hilarious. She and Dave together are the dynamic duo!

I totaled my car a year before I was planning on replacing it. I didn't have the cash in the bank to buy a car in cash like my original plan, but I did put as much down on the replacement car as I dared (sorry savings) and managed a decent interest rate with a $213 payment a month. Keeping that payment until I finish school in a year and then attacking that thing with a vengeance when I'm graduated and working full time. Not the way I wanted to do it, but damn it it's better than what I could have done haha

I bought a 2014 Nissan Versa for $400- gets 40 mpg. Fill it up once a month. Best car I've ever owned! No car payments!

People having a CHAMPAGNE TASTE IN A BEER BUDGET is such an epidemic problem in this country.

In 2012 I was a single mom with two little boys and my car was a used one that my ex-husband let me keep that he had never taken care of. I literally was in a situation where I had no choice I had to buy some thing. I got what I wanted, but I negotiated the payments, the interest rate, everything to my advantage. Then instead of paying it off in eight years, I paid it off in three years. Saved myself thousands of dollars, and I’m still driving that car because I took the time to pay for it and take care of it.

Definitely understand where Dave is coming from but there are some states that stay open year round and don’t shut down over a little ice and rain. Having a reliable 4wheel drive vehicle is a must for momma and the kids to be safe

Havent had a car payment in over a decade and when i did it was $250 a month. These people with $500+ car payments love debt.

yep if people quit buying things they can't afford, prices would come way down. Not just vehicles, everything

I’m so glad you’re talking about “my truth”. I am so tired of hearing this from the crystal woo woo woke hippies. Keep spreading the REAL truth you guys!

I buy cars with cash… used, but dependable, reliable vehicles that I know will last a long time! I have a car that’s 11 yrs old and will drive it til it dies and then get another used, reliable car to replace it! Too many fools trying to keep up with the Joneses with money they don’t have, buying cars and other things they can’t afford!

O6 Chevy impala. Bought it a year ago. Best decision ever. Will be able to sell it for nearly the same amount in 3-4 years.

The cure for Car Fever ....... more cowbell!

Crazy. Never ever ever roll negative equity. Always trade in with your car paid off, title in hand, have a large check in hand and if you have to finance then finance the rest. In my household we only finance one vehicle at a time. Finance for 72 months but pay it in 36 months (we typically keep them for 8 to 10 years) That way if we run into an issue we can drop the payment to $300 or whatever. I'm 38 and we do not have a car payment. You do not need a fully loaded brand new car. Mid grade or lower grade is fine. Also never go to "look" at new cars. Once you jump in a brand new one, it is hard to jump in your 5 year old car and drive it home.

She looks great with any hairstyle 😊

People don’t care if they are behind on their car payments. They are still going to “fly out” for the holidays!! Airports will be packed! 🌲 🔔 🎅🏾

It's the car salespeople that convince buyers they can afford the payments. The first thing the salesperson asks is how much monthly payment I can afford. I always say, "A lot more than I want to spend." When they break out the 4 square and work on the payment, I redirect them back to the price. I tell them once we have a price, the payment is just math. Of course, this was back in the day. Now, with the internet, I get a price before I step into a dealership.

Years ago, when I was arguing about whose finances were tighter, the opposing party used, "YOU DONT HAVE A BIG CAR PAYMENT" as ammunition. I would then offer my pile of crap to them and they denied it. So, this is all on them.

good ol fashioned accountability

I am so glad I used all those stimulus checks to pay off my car early. I love the no car payment life. ❤

Just remember, the truth will set you free but first it’s really gonna piss somebody off

Other famous last words: “Hey guys watch this!” 😂😂

I have bought only 4 cars in my life. 99 Accord $1200, 97 Odyssey $3000, 99 CRV $700, 06 Corolla $500. I have had some rough times in my life, I dont think I would have made it through with a car payment on my back.

I’ve been working extra to save up for my new car. I picked up a part time job, and I do work for my dad in his business, on top of running my own business.

Who da hell is paying that much on 1 CAR!?!? I pay $700 on 3 cars!

Dave thank you--- I have a 2001 F0rd f150 that I purchased used 15 years ago for 3'800 dollars..I have spent about 2'500 dollars in repairs. s now I am a 80 year old man that tell people " it is paid for " and average all repairs and purchase price drastistic is cheaper than any monthly payment. Set aside some every month for repairs in the future and drive with peace of mind...

Imagine not being able to afford something and being charged extra through something called interest and still thinking it's a good idea to buy.

Watching this video and when the ad popped up it was for the Infiniti QX60, a $60K-$70K vehicle. 🤣🤣🤣

I think one of the issues they overlook is how car dependent our infrastructure is. Unfortunately in most of the country you cant survive without a car. Totally agree that some people are buying way more expensive cars than they need but for people with lower incomes even owning a cheap car can be crippling. Car dependency in this country unfortunately keeps the poor people poor.

I’ve had my used car for almost 3 years never missed a payment…I owe 2,000 and can’t wait to get it paid off ! I plan on getting the little things fixed on it and keep driving it until it completely shuts down 😂

I never understood the concept of charging more interest for someone with worse credit. It just doesn’t make sense. If there are a risk in terms of not paying, what difference does charging more interest make? 15.5% x 0 is still 0.

Sitting in a 2008Toyota i bought in 2009 for cash. Has some dents (thanks other people) but she still goes. Great place to sit and listen to DR and know that im winning 😊😊

I bought a Toyota Camery. I bought it at a yard sale and I paid cash. That was over four years ago. I had to put tie rods and shock towers just on the front and a head gasket. And I drive it daily no drama. 😊

The people who go make excuses what they can’t do something are the same people who makes excuses why you can.

My employer requires that you live within 15 miles and can be at work in 30 minutes. Emergency callouts. A 50% pension at 50 years old and Free lifetime family healthcare. On the line. OH, just quit and lose it? I live a mile away, ride a bicycle or walk/run.

Left-handed puppetry ( My favorite 🤣🤣🤣🤣)

More and more people want “appliance cars”. An cheap reliable car to go from point A to point B. It’s great to see

I was debt free to vehicles since I was 25. Learned my lesson long ago. Paid off the house by 46. Never going back.

This makes my head hurt - that I may never see another new car payment under $400.

My Dad paid $2807 for his first new car (a Plymouth) in 1968. Fifty-five years later, I haven't spent that much for a car yet.

I just got my car paid off last month. Been paying on it since 2016. This will give me a chance to save money in order to pay cash for a used one. I've never bought a brand new one but a used one owner. It feels good not to have a car payment.

Not me! Paid that moderately priced baby off quick once I learned more about the baby steps.

Right in the first minute: 13 to 21% on a car loan! Let's say it's only 15% - on a $20,000 loan that's $3,000 just to keep your head above water and doesn't even touch the principal. And if you're paying 20% total income tax, you have to earn $3,750 just to tread water. Crazy!

I just sold a property in Portland and I'm thinking of putting the cash in stocks, I know everyone is saying it's ripe enough,but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.

Just bought a Camry. $600/month… for only one month! It’s old, decent condition, decent miles. Good fuel economy, cheap license, cheap insurance. A $600 car is the way to go!

Now that I can easily pay cash for any car I want, I want nothing more than something that’s reliable and gets the job done.

If you see you'll need a car in a couple of years, try making the payments now and put in a savings account (or higher interest short term CD). Budget and feel the pain to see if you can pass the stress test...then when you need to get a car, you'll have a down payment and know what you really can afford. It is scary how expensive regular cars are today. Not even taking interest do some simple math. $700/mo is a lot of money to me...that's only $8400/yr. For a $45K car (which is not extreme these days), that's 5 years! Now throw in interest and any additional insurance. I don't see how $100K trucks are a thing.

I’m from the uk and love watching Dave but always find it funny how he says veHicle 😅

I like watching how Jade starts talking so that she can find out what she wants to say.

My husband and I are sqeezing our 4yo, 2yo, newborn into our paid off f150. Would be nice to have more room, but boy not having a car payment feels oh so nice. Currently saving for a used minivan/suv. We will get there, God willing

Dave Ramsey callers wanting to file for bankruptcy: 2 new cars + house. Get rid of the stupid cars.

Car just drives different when its paid for

For the average-income person, vehicles are the biggest financial mistake people make. It's also important to know a little bit about them so you don't get f$%*ed over at the repair shop, and so you can make informed decisions on what makes and models are cheaper to own. For example, most used BMW's will absolutely bleed you dry. That $10,000 BMW quickly turns into a $30,000 BMW that never stops breaking.

I've tried both - I drove the $10K car that cost me $4,500 in repairs over three years. I've had the brand new car that I paid $30K for and drove for ten years mostly trouble free. The answer is not always obvious.

My wife is not happy because I told her I will drive our old banger till the wheels fall off 🤔

Jade just loves to talk. When Dave is talking, she still feels the need to say, "that's right" or "mm hmm." She's annoying and unnecessary. What happened to Kristina? Bring her back.

The "system" is keeping me down man! 😂

I'm so glad that I'm not materialistic and that I'm content to drive a small, reliable second-hand car.

I bought a new Ram Rebel in 2021 during one of the worst ice/snow storms ever in the Austin area. I was the only customers in the dealership with 12 salesmen standing around picking their noses. No sales all day. We call that....THE BALL IS NOW IN MY COURT SUCKERS. Sticker on the truck was a little North of $60k. I had $10k equity in my 3 year old trade-in so that took it down to $50k. I then insisted on $40k out the door. Inc TTL. I finally got it. Int rate was 2.9%. Now the truck is 3 years old, prefect condition, I owe $20k and trade-in value is $45k. Oh yeah and I have no other debt. I thought about buying a new rebel a few months ago and the exact same truck in 2024, 3 years later, they are asking $80k. Nothing changed on it but the crumby etorque engine and some minor things. No thanks. I will keep mine now. Dealers are loco.

They signed on the dotted line for student loans. Now they was their debts forgiven

So, when older cars will not pass inspection and become money pits, ride a bike? My van was 14 years old with 2 transmission replacements, after a point it just gets too expensive to keep them running and also able to passstate inspections.

Thank you for existing guys ❤

One year I bought two used cars with cash (a dodge and a toyota). I did all the homework I could and inspections. Both vehicles ended up failing me miserably and costing thousands in repairs. It's the way it is sometimes. We desperately needed a car and we had exhausted our savings. I put 8k into a new car from our emergency fund (a Toyota camry) and hopped on 0.08% interest promotion Toyota was doing. My payments are high ($600 per month to pay it off in two years) but the total interest I'll be paying is roughly $300... TOTAL. Sometimes a new car is a *decent* option. Not the best option, but I know many people in my circumstances who cannot afford to buy another used car and buy someone else's problem. Our savings are back up and earning 5% interest. I use that interest to make the payments. Barely touching my income.

Not paying your rent, and car payments. I knew someone who got a boob job with her Covid checks. This is why apartments are so high. Landlords are recouping their lost money during COVID.

So glad my husband, who enjoys a nice car, is not stupid over them. He was not too proud to drive an old clunker to work for a few years and park it amongst his colleagues flashy ones. And I can’t tell one car from another, so I sure don’t care!😅

I’m glad I pulled through, despite the crises. I am retiring next yr at 55 with 3 houses paid off worth 4.5 million. One is my place of residence the other 2 properties will give me $80,000per/yr rent . I will have an income stream of $20,000 per mnth through my super which gives me total $240,000 a yr to live comfortably. I have no debts _.._ Stay Motivated!!

Biden bucks! Too funny! 😂😂