I'm Scared to Buy a $56,000 Truck

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[amandadean]

I actually liked this caller. I don’t feel as if he was being braggadocious, I think he is so disciplined financially that anything that seems like excess concerns him.

[michellerichardson]

She's so right. People spend so much time and effort saving for something and then when you can do it, you're to scare to actually spend the money

[rayj.]

@1:20 Caller: "You might find this hard to believe, but your system is better than mine." 😁
Great line.

[mariogonzalez]

Recently paid off my 2013 tacoma and now paying off my dad’s dream truck, I’m about halfway there. I don’t intend to get into more car debt anytime soon. I’m so happy I found Dave Ramsey.

[mbabideric]

Graham Stephen: Hi Dave I worth $5m can I get some iced coffee from Starbucks???...

[kerstie]

I’ve been driving a 2004 Toyota for years, I’m too scared of car debt lol

[FreeAgent]

I've had my 2011 toyota corolla for almost 5 years. I kept it even after graduating college and started making some pretty good money (6 figures). There's no better feeling than being debt free and at the same time watching your bank account grow dramatically. It can get a little addicting to be honest lol.

[devingreen]

I hate car debt I was so desperate for a car 7 months ago. I signed high interest loan like 24 percent. But after a month I realized what I did. So I drove Uber for 4 days a week for the next 6 months and paid it off that way and store my work paycheck away.


I think I paid off 17000 in 6 months that way

[justinacase]

This is a thing among newly minted wealthy. When you have worked 20 to 30 years building a nest egg, scraping by, saying no, it is almost impossible to let go of any substantial amount of money. Most people say, if I had a million or so I would buy all this stuff. Nope won't happen!

[thomaseidson]

Any of y'all focusing on the actual math of this call miss the whole point. This guy buying a $56, 000 truck moves his needle very little the wrong way if it blows up the next day. This guy makes great money, has been responsible as a good steward of these resources in his life, and can enjoy the fruits and increase of his good stewardship. Maybe some of you should quit focusing on the math mistake and focus on the behavior that made this caller a HUGE success.

[DozensOfViewers]

I had the same issue. $120K in the bank, zero debt, retirement funds on track. Finally talked myself into trading my 20-year-old car for a new one. (Spoiler alert: paid cash)

[jasonhutch]

Lol, I understand this guy. The only thing I ever spend money on is mutual funds, ETFs, and stocks.

[mistermatsuda]

I get this guy 100%. I want a Tacoma TRD Pro but can't pull the trigger on one after saving for so long. I can literally cut a check to get one but it took so long to get here after being so stupid with money early in my life. Tough call, he needed approval.

[JasonWhiteVideos]

I'm not in the caller's position, but I've always been frugal. The thought of spending $56k on a vehicle terrifies me, but I recognize it doesn't move the needle much for John. Still, I could buy a nice used truck for $30k and find other uses for the remainder.

[begoodtoothers]

He lived like no one else so that now he can live like no one else! Go buy your truck, you deserve it!

[lvluptoaverage]

For the people that want to say that these guys want to gloat about their money. You guys are wrong. This is the reason he is a millionaire and we are not. It gets ingrained in them not to spend money. I went from 25k household income where every cent had a specific purpose to now about 150k. It is very difficult to spend money even when I know I have it. For example or my workers under me drive way better cars than I do. They don’t understand how I am their boss I drive a 5k car and they drive a 15 to 20k cars.

[jwonz]

4:10 - Dave mis-spoke, 56k from 1.2m is 5% not 0.05% !!

[nephetula]

Dave, that's not point-0-five percent (.05%), it's actually 4.6%.

[jacobriverson]

If you plan to keep it 10-15 years I think it’s ok. I purchased a $40k Mustang GT this spring and plan to run it until I die and that’s hopefully 50+ years away.

[rhpham]

Yep feels good to pay off debt rather than bring more into your life. My wife wants to get a new car as she recklessly damaged hers but engine still perfect as I take car of it. 2010 Honda Accord. We still paying our 2000/month mortgage for the next three years and told her she has to wait.