How Cars Keep You POOR!

** ROAD TO 780,000 SUBSCRIPTIONS ***



CLICK THE BELL! 🔔

CONTACT ME
➡️ Snapchat: MrLboyd

[frogpaste]

I bought my 2020 Kia Rio brand new, no money down, for $286/mo. $300 isn't out of the realm of possibility.

As an aside, I've been listening to a financial advisor lately, Clark Howard. He has a good rule of thumb: if you can't pay off the vehicle in 42 months, you cannot afford it. If you need a 60 month payment plan, you need to find a cheaper vehicle.

[suicyconaut]

If you live outside of urban areas, the public transit system just doesn't cut it. You can walk most places in my city faster than the bus will get you there. But it's Texas, so you could die of a heat stroke before you get there.

[evawettergren]

Ugh... I had no idea how expensive having a car was until I got one. And I was GIVEN the car, so I didn't even have the cost of buying it. It still put a huge dent in my monthly budget. Gas and taxes and insurance was the major ones... but then I needed new tires (two sets as I live where one must have separate winter tires) and then I needed to have a coolant leak fixed... and then my sister drove it in to a ditch... So I had to buy another car (because by now I was used to hopping in to a car and going wherever whenever). I am stuck now. Too comfortable to live without a car but it is definitely a huge cost.

[johnr]

I've worked at a dealership for almost 20 years as a mechanic. Certified used cars are the way to go in my opinion. Still mostly new, half the price, and a better extended warranty than if you buy it new.

[amtru]

In July 2021 I bought a 2017 Nissan Versa certified used with less than 10, 000 miles (5 speed, clutch, no electric anything lol) for 16K with 7 year loan at 275 a month. I pay 350 a month. Already half paid off. I do love driving. Thanks for the videos. Later.

[willvr]

I've never, and will never...buy a new car. I also pay for all of my cars in straight cash because I refuse to have monthly payments. That being said, the upkeep and maintenance is higher for me because my cars have always been older with higher mileage. But living in America, you can't really get by without a car and the level of freedom it provides is priceless.

Knowing that at any given point, I can just hop in my car and go literally anywhere...provides me with great peace of mind.

[toadkillerdog]

I have a 15 year old Corolla brought New and only 70k miles(dont drive a lot), my friends laugh a bit at me. but that free 4 to 500 bucks a month gets put into savings or the market. What suprised me I had it shipped when i moved and it sat in front of a friends house for a couple of weeks until i got there. There were 3 different notes left on it from people wanting to buy it. Was a shock to me.

[kristinewhitfield]

Every Toyota I’ve had though as ran forever with rarely any work needed done besides the normal maintenance like oil changes etc.

[DavidRexGlenn]

I thought, from the thumbnail, that the video starred Ryan Gosling and Elizabeth Olsen

[MrDirty-ifgc]

I love my 1986 Jeep Cherokee, but I had a lot more fun in the dirt with my Offroad 97 Mustang.

[GizmoRodeo]

My newest car I bought after it came off of a 3 year lease (2018 Volvo V60 cross country). I paid $25, 000 less than the original price with about 20, 000 miles on it. Any money I would pay on a loan I save up so I always pay cash. No wasting it on interest. I usually keep any vehicles for 10-15 after I bought it used. I've had my Isuzu nearly 20 years which used to be my daily driver but became my off road / camping toy. The amount of money I spend per year on maintenance or repairs for both of them is maybe 1-2 months of a loan on a new vehicle.

[Sebanisu]

Car payment depends on the length of the loan. Like my loan was 6 years at about 300 dollars a month. Also the cost of the car might bring up the payment. Mine was in 2016 and it was like 13000 new.

[Sacred_Silence]

I bought a used car with only 200 miles on it through Carvana (yes, I know the interest rate is higher through them, but it's not hard to re-finance later on to lower that). It was only owned 6 months during covid and barely driven, so I got it at a lower price but basically new. It was a great deal, I think the base price was around 17k instead of 22-24k for new. I only pay $400 a month for a 2020 Hyundai. Currently around 26k miles after 2 1/2 years, I'm gonna get a great life out of this car.

[nissanguy]

Certain cars gain value or maintain their value vastly better than others.
Civic Type R for example.

[donferoce]

I can't agree with the phrase "Waste of money" with regard to transportation. Very few can live their lives without traveling from home and back. So transportation is an essential expense paid for with time and money, in varying proportions. It's possible to gain more money in a day but not more minutes. Status symbols are worth the cost to those that place a high value on the opinions of others. Luxury cars are a slightly different situation in that after five years the repair costs will quickly exceed the value of the vehicle; it is essential to purchase a full warranty for the entire time you plan to own it, especially the British and German varieties. It will likely pay for itself the first time your fine ride breaks down and you discover that any part requiring replacement has a computer module in it that costs at least $1800...
I currently take the bus to work because dealing with the search for limited expensive parking on a tight schedule is not worth the 80 minutes saved. But I keep the 2007 truck I paid cash for so a missing ingredient for dinner doesn't take two hours to retrieve and I can go where the public does not go on my own schedule.

[PatiAnn]

And the other side of that is Buses have less hours they are on the road ... Theres fewer routes... Better take Uber ... If they are available

[garya]

This is why i drive a restored 1989 BMW E30 I have been offered more than i got in it Same thing with the 66 Chevelle i sold

[gollumrubicon]

And you also being a Jeep person, know you could get the wrangler for free and still waste a ton of money 😂. Hope to see you at GSMJF next month 😊

[indyrevoly]

You can sell your 2011 Wrangler for basically what you paid for it, but what you paid for it in 2011 can't buy you anything close to what that money will get you today in Q3 2023--it may not appear to have depreciated in value, but the purchasing power of the dollar it's pegged to absolutely has

[wolfgangandrewx]

...and maintain it... it can easily last 20 years