Leasing vs. Buying a Car - Dave Ramsey Rant

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[EnjoyCalculus]

As the legendary Scotty Kilmer said, always buy a used toyota

[MandaLorin]

This was the very first Dave Ramsey video I ever saw. Fast forward 7 months later and we are in the best financial shape we have ever been in. This stuff works

[peanutbutterisfu]

I can’t help but comment on car vids. I have a small car lot and my day job is a professional auto mechanic. I tell people all the time to buy a 2-4K car and don’t buy a new one. Many look at me like I’m nuts. What do I know I’ve only been in the business for 15 years. People want to be flashy. If you buy a good 2-4K car and have 2k saved for repairs and get regular maintenance done all your car problems are gone. If your car needs an engine you have the money saved for it. If you need a new car you have the cash. A $400 a month payment is almost 5k per year it is so unnecessary to spend 5k per year on a car. Anyone that tells you to buy a new car because used cars break down are wrong, your talking to the wrong person. Every car I sell is gone threw and you won’t need tons of work in 6 months. There are good car dealers you just have to find the good ones. And have the car checked out by a good shop before you buy it. Stop wasting your money. I could go buy any truck I want because I have no debt other than my house and because I have no other debt I have money saved but I choose to drive a 14 year old truck that I put a couple bucks into every few months. And not to get off the subject I just found out I might need back surgery which means I won’t work for a while but I don’t believe in having debt so I have money saved. I also bought a house that is well under what I can afford I didn’t go and buy the most expensive house I could find so if i indeed will be out of work I am not wondering how I will pay the mortgage. If I had a ton of debt and a huge mortgage I would be in risk of loosing my house and my family would be on the street. Listen to Dave not your broke friends. I hope my story helps someone. Sorry for rambling lol.

[markmcintosh]

My son in law is a Lexus dealer. He said they make the most money on lease deals.

[nicksundby]

A car isn't an asset. It's a huge liability. Don't borrow to buy liabilities.

[AnthonyJ]

Thank you for bringing this subject to light! I'm a big fan of purchasing used, upgrading and maintaining so I don't have a vehicle payment. People need to realize the way newer vehicles are built, they have a very limited lifespan due to how complex the convenience and safety features are. A lot of the electronics are very expensive to replace on these newer vehicles. Buy within your means and be greatful for what you have. Thanks for sharing this practical advice!

[DylanBegazo]

You know. I’ve been watching your videos for the first time in the past few days and I’ve been following your math on a lot of your scenarios you’ve been describing and I gotta say it, I can’t help it anymore. You got yourself a new subscriber. I take these videos very seriously. Subscribed.

[GQBouncer]

Good Advice. I bought my car 10 years ago brand new (Toyota Yaris) and paid it off in a couple years. No mechanical issues, great on gas. No payments. I think at the end of the day, people need to just live below their means and not buy gimmicks. Just my humble opinion.

[MJLU]

Buy a 2-3 yr old used car and pay cash. Done.

[red]

I’m surprised that Dave has no idea what the question meant !
When you lease a car under a company, you can claim the lease payment as an expense and get tax credit !

[jwc]

I'm not sure if leasing is really that bad.
I bought a brand new Honda Accord in 2005. I paid $29, 997 cash, drive out. Couple days ago (13 years later), I hit 200, 000 miles. I don't remember exactly how much I spent in maintenance, but I went thru lots of tires, tranny oil changes, all kinds of flushes and etc. It now needs new shocks, brake job, tires which will cost well over $2000. Vehicle is worth around $3000 now. If I sell this car now, the total cost of ownership over 13 years would be like $220 per month.

I could have leased something similar for $220 per month for the last 13 years continuously.

[Kn]

"You are driving your college fund" That should be a meme

[michaeljohnson]

$220 a month lease. 3 years. Always drive new and always have warranty. I love leases. My costs are fixed.

[Noontide]

Love this guy's rants. Thanks for sharing the knowledge Dave!

[fdtank]

Finally something I can agree with Dave on again...
I’ve seen Dealers that will actually charge a higher sticker price if you don’t lease... cause they don’t make enough money on the car itself

[mercsr]

Buy a good old Honda or Toyota with a full prepurchase inspection! VERY reliable vehicles, even used! Works for me!

[Beyondabsence]

263 month to lease a Camry, 0 down. Every 3 years a new car. No extra costs on the car ever, no headaches, not going beyond the 12 000 mile year. Not a bad deal. Spent a lot of money on my last car. After paying off, many trips to the mechanic. Lots of money, a little here and there over 3 years. Sold for very little of what I bought

[canpin]

Thanks Dave for your great advises.  I've been following your channel for sometime now and I got a lot of valuable information from you.  I dont even live in the US but most of your advises are universal. Thank you again.

[posivibegaming]

I love watching your videos, keeps me thinking on the right path

[MoodAmbient]

Amen! I was waiting for someone to explain this straightforward. Never made sense why people lease a car.