Your CAR is Keeping You Poor.

Video From ► “This Keeps 99% Of People Broke!” How To Get Rich - Caleb Hammer

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[LetsMindTravel]

You can look rich or be rich. Cars are the biggest trap out there. Shout out to all my Toyota owners who didn’t get bamboozled into the Lexus

[anirudh_s]

Caleb nailed it. There are so few places in this country where you can live 100% car free because of the way we design our cities

[jfloyo]

I had a 730 dollar car payment and it ruined my life. The single most stupid financial decision I ever made.

[maxscarblog]

Graham is living in a dream world by suggesting a corolla under $7k with less than 100k miles. There's literally less than a dozen corollas for sale in the country right now that are under $7k and under 100k miles, and the newest ones are already 17 years old. Chances are one of those 10 or so cars are not even close to where you live either.

[glorgau]

That was a common saying in my old neighborhood
Q: What's the best kind of car?
A: One that runs and is paid off.

[WhatIsThis-zqhk]

This is a uniquely american problem. In Japan, if you can't afford a car, then you just don't buy one. The public transportation and human-centered city design is incredible and there is no need for a car.

[jaymoar]

For someone that’s smart with money, he bought the most unreliable POS which is Fiat Jeep.

[zunetrav]

It hurts to have been born as a car person. They bring me joy and are an incredible hobby and competitive outlet.

[walkerb]

I’m 54 years old and have not had a car payment in 30 years. I pay cash…ALWAYS. that philosophy has made me wealthy

[bwalton]

My girlfriend drives a 1996 Honda Accord Station wagon to her Investment Counselor job. We were told that she would be looked down upon for it. However, we keep it in pristine condition which leads to her getting complements on it all the time. People recognize that to successfully have a car in that condition even with it being 27 years old, it takes reliability and responsibility, which will translate into their work and other aspects of life. It’s a great bit of advertising where we can let the work do the talking for us.

[Fishbone]

Car is such an image deal to 80% of the population. It's a status symbol that people judge you over. If your a single man, your car will be judged by the woman who dates you. It's very difficult for people to get over the fact that they need to drive a beater before they can buy the car they desire. Most of these people all focus on the car for what it says about them vs what the car does for them. You don't need a fancy import from Germany to drive you to the mall and back.

[JJFisher]

Im sad that Caleb talks about how unfair it is that in the US we NEED to have a car to survive and the other two guys just ignore the topic.

I get it, its a societal problem but it very much effects the individual.

[ryanl]

My first car 11 years ago was my worst financial decision. Ever. Paid the stupid tax, but I still drive it. Still looks great and has been paid off for 7 years now

[CosmicHarmony]

As someone who lives an extreme frugal lifestyle, the car is legitimately the biggest liability I am avoiding for now. Walking/Biking and carrying my groceries like every 2nd/3rd day is great for savings and my health. I’ll get the car when I’m genuinely financially secure in other areas

[TopShotst]

I bought a used 17' Accord for $20k and had it paid off in two years. Best feeling ever is having a paid off car. Hell its still KBB for around $20k in this insane car market

[gerardgalletta]

Cars are a tough subject. For many people, cars are not just math and simple transportation. There are a lot of emotions involved.

[PlayedTV]

I know someone who just leased a Jeep Wrangler for $930 a month for 66 months. She doesn't even make $30k a year. That Jeep should be repossessed by Christmas.

[caleb]

Back when I had a car payment it was only 300. I couldn't imagine doing 800 a month.

[Micloren]

There’s nothing I trust about the car industry. Dealerships are annoying & scammy. Private sellers are often shady too & have their own headaches. Repair shops are a rip off. Best situation is a family/friend/coworker selling something used that you trust was taken care of.

[cameronr]

The problem is that people pay monthly for their car and call it a day. You should be aggressively paying off the asset if you owe on it.