Your Car Is Keeping You Broke...

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Video host: Jaspreet Singh

DISCLAIMER: This description may contain links from our affiliates, sponsors, and partners. If you use these products, we will get compensated - but there's no additional cost to you.

DISCLAIMER CONT'D: I'm just a random guy on YouTube so do your own research! Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet's opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.

[ntrotv]

I drive a car ('98 Acura) with 416, 000 miles. I been saving the car payment in my account since 2006.

[ricoz]

You could’ve had $36, 000 in five years but you wanted a heated steering wheel so now you’re left with $11, 000 😂 that got me 😬🗣

[CHEFPKR]

I sold my car after being laid off during the pandemic closures and now that I can "afford it", I no longer need it. I've been investing the $500/month back into my business. $6, 000/year goes a LONG way for small business.

[handleyobusiness]

So happy I sold off my car that had a stupid 72 month loan on it. Man, it feels good having no car payments!!

[tc]

Blows my mind that 60% of Americans couldn't afford a $1, 000 emergency....

[patasaurusrex]

Haven't had a car payment for over 6 years. Been doing pretty well even when I wasn't working full time. Not having consumer debt is key to building wealth.

[annabelwillemse]

Your car can either be an asset for you or a liability, it all depends on what you use em for. For those who put there cars on rental it's a good means of income while those who just want to show off make no money.

[carcarroom]

I only pay cash for my car. However, I understand not everyone is in this position and that’s sad

[karlsracing]

Don't buy a new car! Learn how to repair them yourselves.

[bigb]

Wish I knew this back when was in my early 20's. could have save a lot of money.

[drproton]

The majority of people don't want to wait until retirement to become a millionaire and these exact people will still be broke when they reach retirement.

[rustynuts]

Not me, I drive a car that I own. I'll never finance a car ever

[brucehaas]

Never buy a car that i can't pay off within 3 years and I keep them for 10 years!

[ThePetit]

Got rid of that car payment this year. Never doing that crap again.

[SteveDaria]

Exactly! I preach this all the time to our agents. Unfortunately many still do not listen. Car payments = Broke

[terryhsiao]

I am a physician and my monthly payment on my new car was 360 dollar and I paid it off in 10 months at an interest rate of 0.99%. It was 2019 Mazda MX-5 GT with manual transmission soft top with an all in price of 32k. That 32k on a new car is already very very expensive in my opinion. I am always shocked at how lots of people are paying 500-600 dollar a month on their cars.

[luumaven]

My dude, you stay kicking knowledge!!! I appreciate it. 💯

[wkdravenna]

I always hit the thumbs up button of course Jaspreet. Your preaching the good word.

[Franco]

I already know this, but I watch it again and again to keep me focused on my goals. Great content Jaspreet!

[busyshah]

Just cancelled the deal on my first dream car today itself.
Thank you now for my condition of 40 years later