Your Car Loan Is Killing Your Wealth - Dave Ramsey Rant

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[Bojaxs]

Every time I get the itch to sell my 04 civic and buy a new car, I watch this video.

[Mcdowells]

And people wonder why I love my old paid off 2000 civic

[warwagon]

"The Rich get richer and the poor do what? 18% on their car!! WHAT!!!

[jontorres]

Just paid my car off with your tips, my wife and I have vowed never buy another car again unless we have the cash in hand

[JamesBond-uzdm]

Recently, I bought a car for $15, 000. I paid one lump sum, drove off and that car is mine. My budget is such, that I could buy a $ 40, 000 car the same way. I am retired and live on a fixed income. Thanks, Mom and Dad for instilling frugality into me and my siblings. With most of these $40, 000 cars I see go by, is a passenger. The passenger is not " look at me". The passenger is called " crushing debt" . I refuse to play the bank's game.

[jillroberts]

Dave is right. A car payment is a way to stay broke, I have a car payment he is right. My first and very last"NEVER AGAIN WILL I BORROW MONEY"! :)

[joeehrmantraut]

$4600 for my 04 grand am. Ive had it for 2 years and ive only put $500 in it outside of basic maintenance (oil and inspections). Living like no one else now so i can live AND GIVE like no one else later!!!

[patriciaikeda]

I live in a city and haven't had a car in the last 4 years.  I take the bus to and from work and save the $500  month.  Cars are overrated.  Its funny everyone asked me things like how do I get my groceries or things I need for my home.  I live a block away from the grocery store, and almost anything I need for the house can be ordered on Amazon.  But what is most surprising is how much pressure I get from people to "buy a car" I even had someone tell me its time to be a "grown up" get a car.  These are the same people who are constantly complaining about money every paycheck.  Since I started this lifestyle change I have saved enough that I could live with out a job for a year.  I think I will continue this lifestyle to total financial freedom... 
Rethink what passes for wisdom....  you can live without a car...

[jay-rus]

After years of being in debt up to my eyeballs....Ive finally had enough.

Sold rental houses (that the banks owned)...sold harley (that the bank owned)...sold wifes pathfinder (bank owned half of it)...traded in new truck (that the bank owned). ..even sold our large brick home for a smaller older home.

Had 17 credit cards....all cleared and cut up now. NO credit card debt now.
Bought a 2003 honda accord for 3k....paid cash.
Traded brand new truck for a used truck for our renovations business.

Today....debt is 17k on the truck. Will be paid off in 18 months. 12k left on student loan.
Total debt sold off and/or paid down....Over $350, 000

Only other debt is our house....total debt, including house, is $138, 000. Finally we have began to build some networth.

Already the weight has began to lift from my heart and shoulders. Not done yet...but close.

[danielbelgard]

People always ask me what kind of car I want a mustang, skyline, corvette maybe a jag? I tell them I WANT A PAID OFF ONE!

[MusicloverX]

My younger brother told me he wants to finance a car...a new one to make it even worse. We're gonna watch some Dave Ramsey videos today :)

[zeusalmighty]

I'm so glad I found this man. I was going to trade my car in after 2 years for a car I really wanted, but come to think of it...I'd rather pay my car off and save an extra 279/month.

[sushi]

Yeah, that pretty much summed up my past 6 years of car buying pattern, I bought and traded 4 new cars in this time period and spent about 112, 000 between them (ok minus the trade-in value maybe 80, 000)... I can't believe how insane I was, and how wasteful my thought process is... Whenever I wanted to change cars I just asked "how much a month" and maxed out my family's budget. Until early this year I read this guy's book and stopped this insanity, paid off my van and started redirecting these car payments into savings...

Yeah, talk about how much I could've invested... talk about opportunity costs...

[ErickaWilliamsCC]

I paid 17% once and worked a second job to get out of it. I rather have a 2000-4000 early 2000s honda or toyota camry and be done with it. when you want better save up for a year or get a few years old model.

[AleksandrVasilenko]

The rich get richer and the poor pay 15% on their car. Gold.

[PInkW]

I don’t own a car. I just ride bicycles.
I bought my house cash less than a year ago.
I have no debt at all.
I cannot believe how fast my savings is going up.
Three years ago I was a financial train wreck.
I listened to Dave and it was difficult
But oh so worth it.

[realrichiewoods]

2005 Buick Lacrosse, still going! No payments.

[Shwert]

I drive a 2002 Honda Accord Ex coupe. Best car ever! I’m into detailing so my car looks brand new. It turns heads and I’ve even been complimented by people saying it looks better than their ten year old caramel it’s 20 years old. YOU DONT NEED A NEW CAR TO HAVE A NICE CAR!! any car can look nice as long as you take care of it.

[nelly]

I wanna lock my girl up in a room and play Dave ramsey videos over and over

[AslansMane]

For girls, a car is a large purse. LOL!