“I Think We Found the Problem”

Explore More Shows from Ramsey Network:

Ramsey Solutions Privacy Policy

[stud]

He works 65 hrs a week so he's basically never driving that $35, 000 Jeep.

[thomasfradd]

You know the caller is in trouble when a $10K credit card is a reasonable option 😮 Yikes

[markg]

Cars the biggest killers for personal finance. Stick with used vehicle, 3-5 years old from a reliable brand and confirm it has been maintained if you do that you will save money and the car should last for a solid 10+ years with regular maintenance.

[franziskani]

In a recent call there was a caller that had a used 10 year old Honda Civic that he intended to sell for 10, 000 or something like that. The car had plenty of mileage. Case in point, the Toyotas and Hondas that can be run down and that are reliable cannot be bought for 1, 000 USD. Maybe with a lot of luck one get get a bargain. But that would need time and being able to wait for the opportunity to pop up.

[calinator]

I appreciate how straight to the point and able to tell Dave/Jade exactly what the numbers are. He just really needs to hammer these debts down one by one. Make advanced payments on the car by paying off principal. One thing I will say is for your next car don't get american, I love american but they depreciate very fast and aren't the most reliable. Get a Honda/Toyota or their luxury brands.

[nathanielcarreon]

This happens when ego is a lot bigger than financial sense.

[kylesnyder]

I paid $2250 for a 2002 Camry 4 years ago and it’s still kick’n. A $1000 car is probably no bueno I agree.

[kimmcdaniel]

If you save $10, 000, you might as well pay your car down. They never ask how long someone has had their car.

[bettysmith]

Yikes, that guy needs to work on a better job for sure!! He sounds like a nice guy, I hope it all works out for him!

[franziskani]

Holy Sh*t Dave says if the dealership does not grant him installment payments, he should _rather borrow 10k on a credit card._ !! The date was January 15th, 2024. (he is right the car loan might be high interest, too and he owes 35, 000 on that). Maybe the bank would be willing to give him 10k if he came up with his income, even 5, 000 would be helpful. Maybe a family member would help him out ? If he lived frugally so far except for this one car and works a lot they could risk it.

[bovnycccoperalover]

Rice has arsenic in it. It can be a problem if you eat too much. Mix with other cheap grains. Also works with pasta. Lentils, instead of beans are also another alternative.

[garyclark]

The thing about cars is not the price but the maintenance. Tires, brakes, suspension, etc. costs money. I would watch out for buying a car that’s too cheap.

[danieldoucet]

Dave's muttered "umkay, umhmm" says it all.

[stevegolacks]

If anyone actually finds a $1000 car....that runs...please let me know. I will buy 10 of them if 10 can be found. My 19 yr old neighbor bought a $1100 car, but from the dealership he works at, as it just came in on trade and thats what the dealership paid. That is one of the "perks" for working there. So, in other words, for the average consumer, thatll be tough. Oh, also, he has that car up on ramps in the driveway more than it has been on the you should also be prepared to use Youtube on how to fix stuff. If you have to bring it to a mechanic for ANYTHING....that $1100 car will turn into a 5k car in less than a month.

[maximusdecimusmeridius]

He might as well just live in the jeep. Shower at a plant fitness

[nkk]

I don’t understand how people get in trouble with cars. It’s obvious that to get a good deal, you must get a 3-4 yo car and drive it for 10 years. I recommend Honda civic, accord, Toyota Corolla and if you are fancy, accura mdx or Lexus rx. Following that rule, in my family we drive really good cars but pay less than people who drive new but inferior vehicles.

[kevinrtres]

"Bought a Jeep Cherokee".... big problem right there - should have stayed away from the SUV trap and gone for a compact Honda or Toyota. As for the student loan - it's just insane - it's just beyond evil to have such a thing as a student loan....

[MindsetMastery]

I was in the exact scenario last year. 2020 jeep grand Cherokee limited x, $10k upside down

[GeorgeCaulfield]

Its juat ridiculous what cars cost these days. I mean youll pay $500 a month for a new civic with 20 down. That is 48 months, which used to be a standard loan. Now they put you on 72 months to fool everyone.

[UmeshKumar-uxig]

Try carvana. I have heard they give above average prices. Doesn’t hurt to try.