Saw this quote a few years ago and have always remembered it: "Using money you haven’t earned to buy things you don’t need to impress people you don’t like won't make you happy".
@Silverdragon517
Жыл бұрын
So true
@Yakuzachris10
Жыл бұрын
Fight club
@NCGNTO202
Жыл бұрын
@@machinesnmetal I've made a hobby out of digging through thrift store shelves. You'd be amazed what people throw out that is perfectly useable.
@dodgerblue7381
Жыл бұрын
@@machinesnmetal Not to compete but my truck is 28 years old, I have had it for 11 years and I paid $2000 for it. It may not look like much but so far it has gotten me from point A to point B and held down the spot in my driveway where it is parked. I bet that your truck will last another 10 with continued care.
@gormenfreeman499
Жыл бұрын
The sign of an economic bubble is when people live better and get ahead with debt instead of working hard and saving money.
@davider3568
Жыл бұрын
My father always said "...once you buy a car, you'll always be poor." How right he was.
@copspybot8293
10 ай бұрын
I don't even have one and life couldn't be better. No car expenses at all.
@karl_margs
9 ай бұрын
@@copspybot8293I share a 2012 Prius with my partner and we only drive a couple of times a week between the two of us. Walk/bike/transit for most trips. I'll take our nice vacations over a new car any day!
@Havealocalife
8 ай бұрын
Yeah, but what do you do if you really like cars?
@porcupinepunch6893
8 ай бұрын
@@Havealocalife Be poor I suppose
@steve8803
8 ай бұрын
@@Havealocalife You be patient, spend frugally and invest wisely and you can buy whatever car you want. If you lack patience, you'll never get the ultimate prize and you'll always be a slave to the lender.
@Shawn_O
7 ай бұрын
Scotty Kilmer (a mechanic KZitemr) says: rich people buy cheap cars but broke people buy luxury cars. So true😂
@Kenny2k08
6 ай бұрын
Bs if I had 100 million bucks I wouldn’t be driving a beater that’s for sure
@MaliEndz
3 ай бұрын
@@Kenny2k08no but people much better off like successful real estate investors do recommend driving beaters and alot do so themselves
@TheRealCatof
2 ай бұрын
@@Kenny2k08Most luxury cars you see on the roads are leased and driven by people that can't afford them.
@Steve1766
Ай бұрын
94 Celica 💪🇯🇵 *TOYOTAAAAAA*
@Steve1766
Ай бұрын
@@Kenny2k08even if i was i Billionaire i would still drive a Beater because i don't like Modern Technology and Design
@jeffreyblanton9877
Жыл бұрын
I drove a beater for 30 years and finally bought a newer car recently only because I feel pretty secure with my situation. This man’s advice is spot on. The majority of individuals should absolutely be driving a beater but there is a point in life when you have saved saved saved and it’s now time to enjoy the fruits of your labors. It’s very difficult to splurge on something like a new car when you have spent your entire life being cheap. It’s actually harder than saving money in my opinion.
@defaultYTchannel
Жыл бұрын
Exactly my situation - I’ve had a car from new since 2003, which broke down costing me 2.5k last year. I’ve been putting off buying a new car as there are of course better investments out there than a new car! Having said that I don’t have any debt now, and no dependents, so I’m thinking with the supply chain situation only going to get worse, if I don’t get one now i won’t be able to get the new car I want in the future. Of course second hand is way better value for money - but I like owning cars from new (just me). Enjoy the new motor!
@rogersmith7396
Жыл бұрын
Cars are not enjoyable. That is sellers propaganda. At best they are necessary. If you lived in a city with good mass transport like London you would never own a car.
@michaelsmith-bn6no
11 ай бұрын
@@rogersmith7396 Wrong. I don't want to spend any time amongst 50% of people who are atheists. People generally just piss me off. The younger they are, the worse they are.
@johndoe-by4up
10 ай бұрын
I been driving beater my whole life my kids and wife are in a nice car But I own a house And literally can do whatever I want if I wanted to but I would like to buy a new integra type s lol to
@thevulture5750
9 ай бұрын
Did you finally decide to buy the base model car, and the dealership tried to talk you out of it because they want to upsell you, but the newest base model is so nice compared to what you're used to?
@maryjanegreen7601
Жыл бұрын
“Normal is getting dressed in clothes that you buy for work and driving through traffic in a car that you are still paying for-in order to get to the job you need to pay for the clothes and the car, and the house you leave vacant all day so you can afford to live in it.” ― Ellen Goodman
@josephhobbs4754
Жыл бұрын
Glad my wife works from home so one of us can enjoy the house all day.
@maryjanegreen7601
Жыл бұрын
@@josephhobbs4754 Saves on transportation expenses too!
@bobralph5072
Жыл бұрын
That is a perfect analogy of the American dream.
@krasavchik8714
Жыл бұрын
@@josephhobbs4754 People underestimate how much money family saves if wife is a stay at home mother. Also a lot more appreciation for a hard working husband. Less feminism and more femininity.
@mikec7373
Жыл бұрын
I can't stand quotes like this. It's not helpful in anyway
@anahfig2467
Жыл бұрын
“If it costs you your peace, it’s too expensive.” I remind myself of this all the time.
@ManafterYahsownheart
Жыл бұрын
End of thread
@CeleronS1
Жыл бұрын
That's why I work hard, to finally get rid of 9to5.
@Bigern2998
Жыл бұрын
Perfect quote. Love it
@MMGJ10
Жыл бұрын
This is why i won't remarry. Lol
@oscarbear7498
Жыл бұрын
Yep!
@teliramirez3914
7 ай бұрын
One of my greatest memories was driving up to the drive thru window at the bank in a geo metro to deposite a 60k check from a real estate flip profit. The way they looked at me was priceless!
@islesanctum833
7 ай бұрын
That's called interest on your payback....love it
@Maartwo
7 ай бұрын
That's the best. Either that or rolling up to a fancy joint in your beater and pick up the bill and pay it in full.
@rashb3994
6 ай бұрын
Shout out to the Geo Metro. I used to get insane gas mileage in that thing. That was a great value car.
@chillydawgg4354
6 ай бұрын
Congratulations on driving up the cost of housing in the name of personal profit
@teliramirez3914
6 ай бұрын
@chillydawgg4354 Nah, I reinvested. I'm saving up for a yatch. Boats and hoes, bro!
@genestone4951
7 ай бұрын
I agree with this SO MUCH. I bought a diesel Benz for $1k. Drove it for over 200K miles; and then sold it for.... $1k. Loved that car. Wish I still had it!
@gab1172
5 ай бұрын
Wow
@vulture4117
5 ай бұрын
those old Benz cars go crazy
@BrotherJudahLion
Жыл бұрын
This video came right on time. Tomorrow I was going to trade my 20 year old car and get a $600 car payment for 6 years. I decided instead to put 1k into my car and keep driving it. Thank you
@kensmith2796
Жыл бұрын
New cars are garbage. Don't buy one. you are better off with your 20 year old vehicle.
@Brandon-uy1uv
Жыл бұрын
20 year old is still new xD I drive a 1991 Nissan Maxima. The fuel economy is trash thou, but then again I work from home and I drive it like a race car xD If I could buy another car it would be a 1998 manual nissan sentra to be able to take on road trips for dirt cheap. My maxima has never let me stranded because I fix it when I see a problem emerging, not when it breaks down. Take care of your car and it will take care of you
@rattanack1413
Жыл бұрын
Drive till the wheels fall off. If you have engine problems look at car forms and ask for help. Most hondas and toyota before 2010 you can get a low mile engine installed from 1500-3000$
@Zinger3030
Жыл бұрын
Great stuff. Stay strong.
@anthonyjohnsonjr8865
Жыл бұрын
I am glad you spoke about this subject I read a article it stated the average car. Owner over their entire lifetime spends over 300,000dollars lifetime in new vehicles 🚗 just to own a beater in the end… when you see those numbers you realize that you could have spent your money better elsewhere…? Just even half of that in any car investment period will make you a ton of money 💵
@jodo7814
Жыл бұрын
I remember saving almost $20k in two years while working at a fast food joint, driving an old minivan that was paid off, and staying home instead of going out in my early 20s. Put myself through college after that. No debt. Edit: for those of you wondering about the college, I paid for the first two semesters, and then got financial aid (scholarships and grants) for income level and academic achievement for a full ride after that.
@ryang.5094
Жыл бұрын
Smart
@daniilvolkov8790
8 ай бұрын
Waiwut? Car prices are roughly the same here too but we can't even earn $20K at a fast food joint in 2 years, let alone save any money. Living costs are only smaller with rent. Utilities and food prices are roughly the same. That being said, you Americans are being thoroughly raped in housing rent. Rent here in downtown is around 700-1000 eur, other parts of town as low as 450...and we are at a price high.
@stevestevens502
8 ай бұрын
i wish i saved/invested my money in my 20's instead of partying...
@INTERNATIONALvids
8 ай бұрын
The key is not having kids
@DerpFisk0151
8 ай бұрын
Are you me? I did the same thing lol
@fredbarnes196
8 ай бұрын
I love the binary choices: new car or beater, as if there is no middle ground off quality used cars
@gravemind6536
Ай бұрын
I went to the middle ground before Covid hit and ruined the car market. Got a great deal now I would never get anything like it again. So I am keeping my car until it falls to bits.
@stevens1041
Жыл бұрын
My best friend in University told me why you should drive a PoS car. According to him "if your cheap car gets wrecked, you can go out and buy another cheap car the same day, no problem". I laughed so hard, but it really is liberating owning a cheap car to just use and enjoy. Maintain the mechanics of it, obviously, but otherwise, a car is a tool, not a status symbol.
@oneobserver6116
8 ай бұрын
You make some good points, but for a lot of people, a car is a status symbol. I'm not saying it should be that way,but for a lot of people, it is. Car manufacturers know this and they make a fortune on it.
@marvin2678
8 ай бұрын
@@oneobserver6116 yep excatly
@oneobserver6116
7 ай бұрын
@r1oot You're right,it does hurt,but I would like to give you some advice. My first car was a ragged out '73 Chevy Vega. Over the years, I have owned cars and trucks that were great,but I never forgot my first one. Whenever I see someone driving a clunker, I remember that Vega. It keeps me humble and grateful for what I now have. As for the people that are giving you a hard time,it shows a lack of class and a lack of character on their part. Later on,when you get a better car, you won't be a jerk like the losers that are giving you a hard time. You will be understanding to those that don't have nice as you will have. Even now,by reacting with class and maturity, you will show the character that your co-workers sorely lack.
@producer.james1
7 ай бұрын
@@r1oot Toyota Echos are great little cars! Amazing fuel pinchers today with these prices. Knew a guy who drove one from new to 800,000 kms.
@wturner777
7 ай бұрын
Not to mention you'd save a lot of money in insurance because all you're paying is the required liability.
@jnucleo
Жыл бұрын
I drove 120 miles a day commuting for years in a 1994 Honda Accord that I bought with 100,00 miles. I did basic maintenance during that time and drove it to 385,000 miles, and even then was able to sell it for $800! One of the best cars ever built for the long haul and super dependable.
@selfoblivionalex6262
Жыл бұрын
Great advice my dude! I remember when I first began to drive I would get nervous driving my high mileage Taurus during long commutes. At the time were you able worried about your car breaking down at random while driving to work or home.
@jnucleo
Жыл бұрын
@@selfoblivionalex6262 The old Honda's of the 80s and 90s were the golden years for Honda. That said, the components and quality control were top notch. Various parts sourced to Nippondenso and others were of top quality. Honda's electrical systems were the best in the world for reliability, much better than German cars. So the cars would run 200k with all the original parts starters, alternators etc. no problem. So I didn't have much fear of breaking down. I'll compare this to a 79 Dodge Omni I owned that I drove to 185,000 miles. It's distributor literally self-destructed on the highway at speed (bearing failure). Also had the clutch pedal fail due to it's being made from cast Aluminum! And the craziest part of that car, the rear window literally shattered one night. It had the big hatchback. The 70s were the decade when America really began it's decline.
@AnonymousGameWarden
Жыл бұрын
Congrats. You played yourself lol.
@angelmaldonado5657
Жыл бұрын
Same thing here except my car was a 1994 Toyota celica they don’t make ‘em the same anymore
@AnonymousGameWarden
Жыл бұрын
@@angelmaldonado5657 because the celicas guzzle gas
@bluemoondiadochi
Жыл бұрын
"I want a car. I don't want the stress of a car." Mic drop Sir. well said.
@larryzan8942
Жыл бұрын
Get a rental …the best vehicle u can have is your legs
@bluemoondiadochi
Жыл бұрын
@@larryzan8942 1. Dont help in my situation, i live in middle of nowhere. Rental works for city people. 2. nope, best vehicle arent your legs, its a bicycle or scooter esp if you're skinned financially. try going 10 miles one way on foot. and then back. after physical work. so nah fam. you can walk if you want but im keeping my bicycle and scooter. they saved me a lot of money and opened up a lot of opportunities that i didnt have walking or using public transport.
@jondough3339
8 ай бұрын
Then you should lease
@Tbird761
8 ай бұрын
I sold a newish car once. I wasn't excited about letting it go, but what I didn't expect was how much less stressed I was not constantly worrying about it being damaged when I was out.
@bluemoondiadochi
8 ай бұрын
@@jondough3339 lease is equally idiotic: i pay like i have it buy without ACTUAL benefits of owning property. plus its clauses upon clauses which i dont wanna deal with. nah fam. when i buy a car it-ll be a smallish old car i can sell for what i buy it for. if i splurge a bit of money on it it will be a reliable vehicle.
@007connecticut
7 ай бұрын
I agree with you, beaters save you a lot of money. However in the rust belt they tend to rot out before they wear out. So your spending more money to keep your feet dry and the brake lines in good shape.
@c.h.u.d
22 күн бұрын
simple just go to an automatic car wash they spray under your car during the winter do that once every two weeks or less. your undercarriage will be fine
@Sideler74
7 ай бұрын
Do the regular maintenance on your car/truck. It'll run forever
@jwetzel3141
Жыл бұрын
This guy and I accidentally did a little bumper car action in a parking lot the other day. We both drove a POS. We both didn’t care and went on our way. That’s freedom.
@christineshah7330
Жыл бұрын
My husband just did that the other day. Beaters for the win!
@garygerard4290
Жыл бұрын
ha ha ha - Great!
@oscarbear7498
Жыл бұрын
In a world where everyone drives a pos , insurance rates drop to basically free xD
@brianf8621
Жыл бұрын
I tried to explain this to people but they don’t get it. I purchased a 200k mile GMC truck for $100. Drove it for 10 years with a budget of $500 a year for failures. I only exceeded that 1 year when the clutch went out. That is 49k of cost saved over 10 years. It is about what you spend not just what you make.
@RennieAsh
Жыл бұрын
Someone ran into me the other day. Would I prefer to not have a slightly damaged bumper, sure, but it's not worth $500 for insurance excess.
@davedamiano3283
Жыл бұрын
Absolutely right. 25 years ago I started paying cash for whatever POS car I could afford. I put away a small portion every month to pay for repairs and save for the next beater. I always had enough on hand to repair or replace the car. Gradually, over the years, I moved up in quality and cost, but I still pay cash from the money I have set aside for a car. This is the main way we got out of debt and became financially comfortable.
@joaniepeters2565
Жыл бұрын
I do the exact same thing
@iamasmurf1122
Жыл бұрын
you should have invested in crypto
@sooner91
Жыл бұрын
@@iamasmurf1122 yeah crypto is doing really well
@davedamiano3283
Жыл бұрын
@@iamasmurf1122 Investing is great, done plenty of it. Without financial discipline, it can be a recipe for disaster. On the other hand, I know people who have become multi-millionaires just by living frugally.
@nuckels188
Жыл бұрын
Housing is the problem for me lol
@LateNightCable
8 ай бұрын
I drive a 24 year old Miata daily. I wouldn’t consider it a POS by any means because it’s fun and very reliable. But it’s in decent project condition cosmetically. I really love it, because not only is it thrifty to own, but it’s also something I can look forward to making better in the future and being really proud to show.
@stankent7862
7 ай бұрын
My last car payment was in 2002. I sold the truck, and drove a $500 ranger 75 miles to work. Never broke down. It was low mileage but, baby blue and a pink stripe. Saved the car payment I would have been paying every month. Paid cash for a 10 year old Lexus for my wife. Continued to put the would be car payment in savings each month. Every three years we upgrade. I now have a 2021 f250 and my wife has an RX350. No payments.
@JoshDTech
Жыл бұрын
As a mechanic, I would take the 20 year old Hyundai. New Buicks are maintenance nightmares
@brawlgammer4424
8 ай бұрын
Whoever wrote that letter has no idea about how reliable some 20 year old "beaters" are. With all the technology in cars nowadays, from what I've heard from friends in the industry, often time newer cars are less reliable and a wallet blackhole when something breaks down. I'll keep driving my 17 year old, 170k miles+ Corolla, until it completely dies lol
@drewappleton5052
8 ай бұрын
@@brawlgammer4424I’m driving an 18 year old Corolla, It’s never let me down so I see no reason to get rid of it
@The_Gallowglass
8 ай бұрын
Get a 2004 corolla. Easy to work on, will last forever, cheap to maintain, good on gas
@XenomorphLV426
7 ай бұрын
Really? A 20 yr Korean car?
@Greg-zr2pf
7 ай бұрын
@@jayc4715 and Honda
@DePalma.
Жыл бұрын
My folks drove old vehicles when I was young, I drive an old vehicle. No debt, money in the bank, affordable mortgage. He right.
@georgevue8175
Жыл бұрын
I'd like to buy a new SUV but even a smallish SUV is $35,000 with next to zero options.
@DePalma.
Жыл бұрын
@Mike Mike I don’t know of a much better place to put my money in the bank, maybe under my mattress… I don’t know anywhere that I can gain interest safely
@varmastiko2908
Жыл бұрын
@Mike Mike Depreciation on that car will be far more than the amount of inflation. Instead, only drive cars that don't depreciate anymore and invest all your savings. You will still never get rich but you will have something left of what you earned even after many years.
@varmastiko2908
Жыл бұрын
@@DePalma. You don't really gain interest. But possessing money you will always "gain" negative interest (inflation). So just having money sit somewhere is dumb. You're simply throwing it away. Now of course investing has risks. But if you don't invest then your money is already gone.
@joesolo7719
Жыл бұрын
@Mike Mike cool story
@LittleMopeHead
7 ай бұрын
This video's message is a classic. I bought a '97 Lexus ES 300 w/ 151K miles for $5.5K in 2006 for college. While owning it, I did regular maintenance to it myself. The most I did was changed lower tie bar suspension and brake calipers, rotors, and pads. Over the years, I had an accident (other driver's fault), and her insurance paid me $1900 for the front driver-side damage. I basically hammered it back in, bought a new headlight for $125, and continued driving it just fine. I was debt-free since 2019 (from $45K student loans), make over $100K now, and just this spring 2023, I sold the car for $1000. It had 325K miles on it and started up every single time. There are more important things in my life, and driving a new car to impress others is not one of them.
@_m_K_.
7 ай бұрын
I had a 96 es300, bought in 2006 for 5500 from a dealer. I owned it 10 years put about 110k on, it was totaled when parked and i got a 3k check. It was 248k miles and still running fine, but the valve covers leaked like crazy.
@LittleMopeHead
7 ай бұрын
@@_m_K_. That's incredible! Way to go!
@jackz4149
7 ай бұрын
Yeah, in 2021 when I bought my new car in college, I chose gls580 over cayenne turbo due to lower price, good choice, very reliable car, I can see myself getting headaches in a nicer car over the payment and insurance
@mariomedinafitness
7 ай бұрын
Happy for you
@noble20xx56
5 ай бұрын
Ayyye the Es300. Very chill ride.
@aakksshhaayy
8 ай бұрын
You're not going to get rich by driving an old car... the only reliable way to get rich is to increase your income
@carloss.2300
7 ай бұрын
Listen harder next time and you’ll get what he means
@davidmanning6321
Жыл бұрын
“If you want to be rich you need to drive a POS…period”. Best quote in a long time!
@Lumpia_In_Texas
Жыл бұрын
Or You can be a POS like a Biden and be rich.
@brandons772
Жыл бұрын
I drive a POS, still not rich.
@andersonandrew112
Жыл бұрын
@Brandon S and you won't be. Cutting expenses is one part of the equation but the income and investment side is even more important. I know a ton of poor people driving crappy cars who won't become millionaires that way
@mikerodix4800
Жыл бұрын
If you can stop working and fix your pos you aren't getting rich anyway because you can make more money at work than you can save in your driveway if you are in the right line of work
@dand3975
Жыл бұрын
Stay at Home on your time off work and fix your p.o.s.
@richktp1
Жыл бұрын
I have several coworkers who can not take a day off because they have car payments. I drive a 97 F150, and I can take a day off whenever I want. They get jealous, and I just laugh.
@wolfejar
Жыл бұрын
The Debtor is slave to the lender. There is no car I want that I’m willing to give up my “freedom”. I think you found that too.
@MS-pw6jx
7 ай бұрын
Used to think my peak was “when I finally get my bmw/Audi/Porsche” About to be 30, and if I had spent a dime on a sports car at this point in my life, I’d regret it huge. Money is security, security is peace, peace can allow you to go chase happiness with people you care about. I used to think I “loved” cars, but what I really loved was the idea of owning cool cars.
@klepTeevee
8 ай бұрын
I have a mk4 golf which is 20 years old. I love it. Easy to fix. Nice to drive. Nice to look at. Very reliable. And when the time comes for it to go I will get something even older. Older vehicles have more style and character
@joekelley5121
Жыл бұрын
A lot of people put a lot of street cred into a vehicle. Musk has said: "drive a 5 thousand dollar car and have 100 thousand in the bank". It's something to strive for.
@TBlock1347
7 ай бұрын
And he sells 50k plus cars. Oh the irony.
@DatBoiLui
7 ай бұрын
@TBlock1347 mhmm not really, he sells a product to the cookie cutter population, but the advice he gave was for people who want to be financially free
@joekelley5121
7 ай бұрын
@@TBlock1347 sure he does, but in order to get to that point, you have to crawl before you can walk, and then run. That's how people stay poor. If you're not making 6 figures, don't blow the money you DO make on an expensive car that you can't afford. I've got the 5,000 dollar car, and no debt. I've been able to replace things in the house like the furnace, the water heater and the refrigerator because I had a 5000.00 car that was paid off, and stashed the 350.00 to 400.00 car payment back just for those issues. Poor people stay poor because they use credit they can't afford.
@coleworldcole9438
7 ай бұрын
Hey boss life 😂😂
@christianjon8064
7 ай бұрын
Have it in crypto tho so the govt can’t take it
@danielmcclorey6606
Жыл бұрын
I bought a 2010 Corolla 2 yr ago. It's very low maintenance and I've built wealth in that time. He's very right. Young people listen up, try to live cheap for awhile and build wealth.
@eric6rock
Жыл бұрын
My Brother Gifted me his Car a Old Ford Escape 2002 I’ve been working and saving a ton. And yup, with that money I could do a lot of things and fun things such as going out, and snowboarding with Friends. With the money I have managed to buy a motocross bike new not the best decision but one to build my credit. Still I’m in no worry of debt just my bills I could pay. I have been raised from a single mother and seen and heard the struggles of Debt. Still I have money in my account and enjoy the things I like even with a good old Beater. Best thing of all you would enjoy the Luxury after so many years of driving or riding the beater. Still plan on driving it until the wheels fall off!
@joeljimenez1929
Жыл бұрын
How much and how many miles? Where at?? Looking rn lol
@williamyoon
Жыл бұрын
@@joeljimenez1929if you’re still looking, make sure that the seller replaced the vvti gear and radio at least, those two things are basically guaranteed to fail judging by everyone else’s experience with this specific car. (and mine)
@benslawnservice
Жыл бұрын
I lived at home with my parents until I was 26 so I could jumpstart my investments. I now have a house and all my cars are paid for. I also have more in retirement and investments than I owe on my house so I’m way ahead of most people my age that are still renting and struggling.
@p.capes1
Жыл бұрын
How did you built wealth?
@MySteamChannel
8 ай бұрын
My car is 20 yrs old & never let me down. I am financially free in retirement.
@PraveenSriram
7 ай бұрын
Congratulations 🎈🍾🎉
@friendlypiranha774
8 ай бұрын
Best advice EVER. My one car is a 1991 model and my other is a 1984 model. No repayments, very low maintenance costs, cheap insurance and money to save. Unlike my friends who laugh at my cars from inside their very expensive new cars and can't sleep at night because they are drowning in debt.
@chadbeimer3363
Жыл бұрын
A well maintained vehicle can be very reliable, even if it is old...
@LillyAnnHouston
Жыл бұрын
I drove 1hr 15 mins to work each way 3rd shift. All in a beater. 2 beaters for 20 years. Now retired at 45. My 1st beater was still running over 268,000 miles but gave it to my niece (she still has it). Both cars (Toyota) never left me stranded. I choose retirement over luxury.
@kensmith2796
Жыл бұрын
Retired at 45? How? You should start a channel on it.
@user-jy7yw5kw3w
Жыл бұрын
@@kensmith2796 probably by not having a car payment and investing. The average car payment on a new car is $700 a month. If he invested that every month into a fund like VTSAX, VOO, VTI, ect (US market funds) if he did that from age 18 to 45 the average market returns 10% a year he would have over a million dollars sitting in his brokerage account.
@BrettMKW
Жыл бұрын
@@kensmith2796 I believe it. I'm 28 and just bought my 3rd car, have spent less than 15k combined for all of them, never once had a car payment. Only reason I'm on car 3 is because car 2 got totaled last November and only had 110k on it, planned on having that one for a while but that's life. If you get yourself a well paying job, live frugally when you can, start young, and invest early I can definitely see someone retiring at 45.
@ya-boyrookus7516
Жыл бұрын
@@user-jy7yw5kw3w what about health insurance?
@uploadtime1780
Жыл бұрын
@@ya-boyrookus7516 that's what people who haven't had large medical expenses don't think about.
@Aflo.621
7 ай бұрын
My wife and I drive paid off vehicles from 2008 and 2011. Purchased a 3 flat and tenants are paying 100% of our mortgage. We are both 6 figure earners with zero debt and are living the dream.
@liamwil688
Жыл бұрын
Just want to say that your video just appeared to me at the right time and is very inspiring. I own a 2000 Chevrolet Silverado with 340,000, Wisconsin rust, rotted frame, but engine is strong and very reliable for the pass two months I owned it. I also own a 2010 Hyundai accent with 148,000 miles and need to do minor maintenance every couple years. All my friends drive beautiful vehicles and they look so cool driving it but once they tell me that they pay $500-$700 a month in payments for a newer vehicle, my mind set changes and I don’t feel bad about driving my two beaters. Lately I’ve been wanting something nicer but I remember that “it’s not bout looking cool” bc looking cool means financial struggles. Thank you for your feedback on owning beater vehicles and how a vehicles does not define who you are.
@appalachianwoman561
6 ай бұрын
I have 3 vehicles a 2001 Chevy S10 ZR2 that has a lil over 94,000 miles (it was one owner bought new by my uncle so I know it's history), a 2002 Chevy Monte Carlo with over 130,000 miles, and a 2004 Mercedes C240 all of which I own and I do the work on (my dad was a mechanic and taught me, I've never taken a vehicle to a garage for anything except tires). Then there's my cousin who bought a 2023 Honda Accord the fancy trim kind, she paid $10,000 cash down and still her payment is $800 a month with her 700+ credit score. I don't understand who's doing this, some are paying outrageous amounts down like $10k and still ending up with payments that are close to $1,000 a month. Those people are so doomed the first time something happens bad in their life, or they get laid off.
@MustyBastard
Жыл бұрын
it doesn't have to be a pos. Just something you can pay cash for.
@josephliptak3183
Жыл бұрын
Exactly 💯
@humzilla707
Жыл бұрын
Or low interest. I paid 1.9% so I'm keeping that money when I could have paid for it
@MustyBastard
Жыл бұрын
@@humzilla707 Your life. I am all about reducing how much I need to make every month to survive and reducing the amount of things that hit my bank account. If I do not want to work for a few months, I can. Just as long as all my passive side hustles keep cfing. Free time while I am young is my greatest asset. I am not interested in accumulating large amounts of FIAT, Ill never get the chance to enjoy
@briank5877
Жыл бұрын
Good point
@briank5877
Жыл бұрын
@@humzilla707 you can use that money and buy CDs that yield over 5%. Hence your being the bank now.
@coldspring22
Жыл бұрын
Totally agree! I bought a used car 20 years ago for $1000. It's still worth $1000 today. Unlike new cars which lose tremendous value, beaters don't lose money to devaluation as long as it's in running condition. Another big bonus is that older cars are simpler, much easier for DIY repair saving lots of money.
@V8Brah
Жыл бұрын
My IS500 costed $62,000 last year and I can sell it for $68,000 today. I don't follow your logic. :D
@andrei666
Жыл бұрын
@@V8Brah Its a different story bruh. Inflation, deficit and etc, no market equilibrium anymore. Thats why its what you get
@Argedis
Жыл бұрын
@@V8Brah Don't act like you don't know we're in a car bubble. Also the expensive monthly insurance you're paying is eating away any 'profit' you could make. You're probably not even adding the taxes you paid and already lost.
@hbkkidcorrupt
Жыл бұрын
@@V8Brah lol go sell it then.Good luck getting 68k
@V8Brah
Жыл бұрын
@@Argedis Yeah true. Insurance, tax, and registration is expensive.
@Yolo942
7 ай бұрын
Amen Brother , get rich or die tryin.
@marting6015
7 ай бұрын
people should do as they please. remember you won't be here forever regardless of how much money you have/save.
@jamieprewitt
Жыл бұрын
Drive a $800 vehicle, very reliable. Low insurance & fantastic gas mileage. Best feature. It doesn’t track where I’m going. Zero electronic surveillance. Been driving same vehicle for 20 years. Zero break downs …not one.
@adrianmoore2750
Жыл бұрын
Show me a reliable vehicle for $800 and I'll buy it right now
@chrismullin8304
Жыл бұрын
@@adrianmoore2750Jamie got the last one. You have to find a $900 one….before me.
@mikerodix4800
Жыл бұрын
You don't have a long commute do you
@user-do2ev2hr7h
Жыл бұрын
Personally, I think there's a middle ground on this one. Obviously, it's a bad idea to spend money you don't have on a car that's fancier than what you need, but I know some people who always went for an absolute beater just to save a buck and ended up spending far more because they didn't have a reliable vehicle. A solid, dependable car or truck is a sound investment because most people need one in order to function, but that should be within and against the parameters of what's sensible for your personal finances.
@Ottobot2
Жыл бұрын
Buy for function and purpose within your budget. This works for any purchase in life.
@user-do2ev2hr7h
Жыл бұрын
@@Ottobot2 Exactly. IMHO the ideal move here is to go for the most cost-effective vehicle that will be able to safely and reliably do what you need it to do and if you have to finance, go for something that will (hopefully) have a lot of life left in it once you are done making the payments.
@Drakkarius
Жыл бұрын
Yup happened to me, I spent so much money on the old car, then i decided to buy a new car(the most cheap one). I should have done from the beginning, thousands of dollars wasted. Old cars are only good for people that now how to fix stuff themselves and know enough to get a car in good conditions.
@leonzhu1301
Жыл бұрын
And the sweet spot is different for everybody. My car is great for my use cases, but if I move to a new city / new residence, my use cases will change and I'll need something else.
@rolandthethompsongunner64
Жыл бұрын
I can pull practically any recently junked car out of the scrap yard and make it reliable for usually less than a grand. Depends on the vehicle of course.
@rolandthethompsongunner64
Жыл бұрын
He’s right about the stress factor of owning a sweet ride. Car jacked, damaged , stolen. I don’t worry about any of that driving my beat up 20 year old pickup 😂
@noumenon3020
7 ай бұрын
I drive a 2008 Chevy Cobalt. Bought with cash. Never had a major issue with it - just keep it well maintained. Whenever I feel the need to get a newer, nicer car, I just get little upgrades for the Cobalt. New stereo, new tires, new ignition coils, little things that make it a little better but stop me from spending way too much on a much nicer vehicle. It’s been a nice hack over the years, and now a good portion of the vehicle is customized to some extent. Nothing crazy like full suspension or exhaust mods, just little things. Fully recommend that for anyone that likes to make improvements but wants to do it within and under budget. Oh, and one of my coworkers who makes much less than me drives a brand new Mercedes sports coupe and is always complaining about being broke. Thanks for the video, Uneducated Economist!
@SkylerF
Жыл бұрын
My ride has 300K miles on it, and still running! I'm very grateful to have bought it from my parents for $400 when I graduated high school in 2016 and I'm gonna drive it into the ground!!!
@tonymnemonic7366
Жыл бұрын
When you drive it into the ground you then buy a rebuilt motor and get another 150-200k on it.
@bradmiller6507
Жыл бұрын
So, it’s almost broken in. Keep driving it!
@JohnSmith-rs7jw
Жыл бұрын
Drive it Bro!
@timferguson593
Жыл бұрын
Smart. Don’t buy!
@hereweare9011
Жыл бұрын
What are you driving?
@dave6790
Жыл бұрын
I drive my 98 corolla I paid $1,200 for 6 years ago, reliable and no worries!
@ratherunique1995
8 ай бұрын
Been feeling really bad and stressed about my beater car, this made me feel a lot better. Thank you
@85therealdeal
6 ай бұрын
I don't really watch your content much, but I think that this is one of the best videos that I have been on KZitem because it touches on my sentiment very strongly. I daily drive a 35 year old Corolla that I would have owned for 10 years at some stage next year.
@FrankO-ek1ec
Жыл бұрын
It’s truly amazing how many people drive around cars that they cannot afford.
@tattoodestroyer1663
Жыл бұрын
I drove a $500 jeep for 7 years. Saved $400 a month that entire time.
@dotcom721
Жыл бұрын
But you’re still not rich
@stevecooper7883
Жыл бұрын
@@dotcom721 but he ain't in debt.
@maryjanegreen7601
Жыл бұрын
I just had work done on my 2012 Fiesta (a gift from my daughter). It made me miss my 70s/80s $500 (one was $150) car I could work on myself.
@Daniellihomes
Жыл бұрын
@@dotcom721 Drove a pos rav4 for 6+ years while all my friends bought new vehicles, guess who is pretty much retired at 38 LMAO your point is moot at best
@risefast184
Жыл бұрын
@@dotcom721 if he put 400$ every month for 7 years in bitcoin he is rich lol
@youjustgottadrum
Жыл бұрын
People have no idea that it is not how much money you make, it's how much you owe. You can be rich making 45k a year with no debt.
@yinsoen
Жыл бұрын
I had this conversation in my head one time my colleague bought a car on lease struggling to pay. At work there’s 100 hundreds of near new cars parked bmw, Mercedes, Tesla etc.. I’m my mind I said “ I can buy any car here brand new outright but I choose not to” financial peace is what I want
@johntorres5346
Жыл бұрын
I’m a car salesman and I completely agree with this man, I myself drive a 04 pathfinder thats paid off (obviously) 😂. Don’t waist your money on things you CANT afford
@jerrylisby3440
Жыл бұрын
Waste. Yes don't waist your money either on too much food going to the waist. Hahaha
@tylerdurden5122
Жыл бұрын
@@jerrylisby3440 I like what you did there
@boristheamerican2938
Жыл бұрын
If you are a car salesmen you drive a demo.
@bloatedsodium7301
Жыл бұрын
Is it possible to have a car dealership where there’s a set commission for all salespeople?
@stormblade1199
Жыл бұрын
@@boristheamerican2938 This guy is a car salesman telling you what he drives and you're telling him what he should be driving😂 what
@smille12
Жыл бұрын
I used to drive 2 to 1/2 hours a day back and forth to work, found a job 15 minutes away , it was an instant raise saving gas and wear an tear, biggest raise was getting my time back for myself driving less, your time is priceless
@Argedis
Жыл бұрын
Correct. Time is the only thing money can't buy. You can only spend more to 'save' more time.
@HomeGrownPyro1
Жыл бұрын
Same here. Been doing the drive for almost 20 years and am soooooooooooo sick and tired of it. In todays world it just isn’t worth it with the price of gas, the price of vehicles and the depreciation you experience every single day you commute to work. It just sucks because I live within walking distance to 3 local hospitals but haven’t been able to get a job at either of them yet. So it’s either so the commute and work in the field you went to school for or say f*ck it and take a significant less paying job doing something else
@KevinReno-yd4vg
7 ай бұрын
I just bought a 2002 Saturn sl1 off a good buddy for 2,200 bucks only has 64k on it body in good condition. Car is very light and great on gas. I live close to work and ride my bike during the week I only really use it to go grocery shopping or run errands on the weekends. I'm going to preserve the car as long as possible
@Seniaztoptrends
8 ай бұрын
This guys channel needs to blow up to a million subs! I love the way he thinks. I bought a 2002 Honda CR V Lx 2.4 Liter Engine So far It has been good to me! And I actually think it was the smartest financial decision I have made during these hard times when prices are so high on pretty much everything. It’s great to not have to worry about car loan payments every month or falling behind and getting repoed! KUDOS TO YOU! I stand with you on this. The money that would have gone to a monthly payment is going towards maintenance and that’s way better because I own this car Title in hand !
@ChrisfromGeorgia
Жыл бұрын
It’s not what you drive, it’s how you arrive! Beater Life✊🏻💯
@mathisnotforthefaintofheart
Жыл бұрын
Does safety play any role here?
@redbluesome2829
Жыл бұрын
Why do people always assume a car that isn’t brand new wasn’t developed with passenger safety in mind? Cars don’t change as quickly as they once did, and at this point, even a twenty year old car is still thoroughly modern. That’s a 2003 model for those bad with math. Nobody needs Apple CarPlay, etc. Airbags (sometimes more than two), ABS brakes, crumple zones, safety cell, everything meeting or exceeding federal standards at time of manufacture… Your family would be plenty safe in a 1996 Mercedes S-Class for example.
@mathisnotforthefaintofheart
Жыл бұрын
@@redbluesome2829 That's true. An Anvalon, or Benz S class and the likes of 2000's is certainly safe. A Civic back then compared to modern standards? Not so. You are right, model does matter
@Argedis
Жыл бұрын
@@mathisnotforthefaintofheart Physics always wins so you can drive a modern Civic and crash into a 20yr old Suburban and still lose.
@jdean4268
Жыл бұрын
I like it! good one, but shouldn't it be " it's that you arrive" LOL
@yankeegonesouth4973
Жыл бұрын
I have driven 15-20 year old Toyotas for years. I'm totally on board with this guy. Also, the gentleman who wrote about only being able to use the car breakdown excuse a couple times has obviously never lived in Pennsylvania. A coworker split his axle on a highway in rush hour traffic. The potholes are that real. That may have been extreme, but Potholevanians can relate.
@SlumberBear2k
Жыл бұрын
And I thought it was just known for the rocks! on the appalachian trail it is so notorious for the rocks it is called "Rocksylvania"
@blueprince2330
Жыл бұрын
I also live in Pennsylvania. The threat is real.
@BRIANDER100
Жыл бұрын
besides routine repair charges, how much did you spend on repairs ?
@yankeegonesouth4973
Жыл бұрын
@@BRIANDER100 I guess it depends what you count as routine. The main thing has been tires and every few years. The non routine costs like brakes, radiator or exhaust issues are rare, like 1 in 10 years for each. We budget $1000/year for maintenance + repairs and then have emergency funds if needed. Just going off the top of my head, most years we spend $800-1200 to keep 1 vehicle running (that's everything but gas). A bad year might be closer to $1800, but that is maybe 1 in 5 years, and a sign it's time to trade in for the new 15 year old model.
@maoduida387
Жыл бұрын
Pot holes? bad roads? Hoods and shootings? Did someone say new ken!?!? my car got hit in the 400 11th street shooting and I almost got to use a rare excuse, that being that the police have my car for evidence, thankfully didnt have work that day.
@xlargetophat
7 ай бұрын
You're speaking the truth.
@formertrackstar703
7 ай бұрын
“The need is a negative”. So true
@user-xn2wg2oe7s
Жыл бұрын
The stress of caring about a nice car getting damaged is a big part (besides the money) of me not wanting to buy a nice one. There is a lot to be said about the peace of mind that comes from not caring much about an old car that you can park anywhere and barely worry about.
@Bigern2998
Жыл бұрын
Completely agree. I have had a couple brand new cars and I did not even want to take them anywhere....the mall, the gym, work....always worried.
@8888k
Жыл бұрын
Can’t agree more, the two main reasons I buy lots of things second hand are: - So i don’t get stuck with the most significant depreciation period - So I don’t have to worry constantly about keeping things perfect (I have a tendency to do that)
@the-ironclad
Жыл бұрын
I guess y’all aren’t attached to cars like me lol. Gas and car payments are a depreciation I’ll gladly pay for. Late night drives and long drives give you peace of mind when you’re blasting music and spending time to yourself and also sharing those memories with friends, racing down the freeway, and creating memories that come with it. May drain your money but definitely a high ROI for your mental health.
@spadgm
Жыл бұрын
100% this!
@user-xn2wg2oe7s
Жыл бұрын
@Am How many hours per week do you work? I like driving but get more than enough just from the commute and other weekly responsibilities. With that said if you have time for that and enjoy it I'm happy for you.
@christopherjacoby4089
Жыл бұрын
If your young and really trying to come up this advice will save your entire future. I’m 28 and drive the same car I bought when I was 22 for 4 grand, live with my parents, and look like a complete bum on the outside. But over my 20s I’ve amassed a almost 200k in investments and savings and have a 780 credit score. Still want a new car but i chose to live by the same principal that got me here in the first place. I’ll probably move out soon, but idk. Living a stress free life has its perks.
@mmp495
Жыл бұрын
You are doing amazing!
@mikeprice8307
Жыл бұрын
Damn dawg 28 and still with your parents ? I'd be ashamed to even tell that! You must not date any either 😅
@ronijr4918
Жыл бұрын
Good that you have all that money hut still living with mom and dad? Hmm.
@christopherjacoby4089
Жыл бұрын
@@mikeprice8307 you’d be surprised, a lot of girls like it, because the guys they date have 50k cars but can only afford to take them to Olive Garden, and then back to their apartment, with a bed on the floor and one chair in front of the tv.
@christopherjacoby4089
Жыл бұрын
@@ronijr4918 it’s called a life hack.
@emailkenny
7 ай бұрын
I drove a 99’ Accord Coupe from 99’ until it’s transmission failed in 2021. Bought it new from Honda & financed it from 99’-04’. Sold it for $700 in 21’. I also bought a new 2019 Civic Sport Hatch, 6 Spd, from Honda & financed it from 19’-24’. With regard to my bank loans on my cars, I approve this message 🇺🇸, which suggests “ new or used, buy your cars cash & drive them for 20+ years “. If nothing else, it’ll support your mental health 🧠
@rberth9016
8 ай бұрын
I have a 2005 Subaru Legacy, bought it for $1400 with 310k two years ago, no engine light and no hvac problems. It now has 344k, no problems, regular oil changes, liability insurance, and I have a two hour round trip to work. I'm gonna drive it until I can't fix it anymore. In the meantime saving $😊😊😊
@matthewolson9704
Жыл бұрын
I'm a mechanic, and driving a POS isn't a concern. I've spent most of my adult life driving cash cars that were varying degress of "shitbox" and decided to buy my first new car a little over a year ago (at age 36). I agree that the cost and the worry about door dings aren't ideal, but as a "car guy" I got tired of fixing everyone else's cars day in and day out to drive a car that doesn't bring me any happiness. Sometimes you gotta go for it 🤷🏻♂️ I try to balance saving money and living within my means and full YOLO #sendit
@dingdong2103
8 ай бұрын
For me having my employer lease me a new Mercedes is the sweet spot
@zeppkfw
8 ай бұрын
Definitely. There are plenty of cars that are reliable, good value, make decent to good power, low maintenance, cheap to maintain, etc... Ones that are actually good investments but noy too crazy. Examples I can think of are genesis coupes 3.8s, BRZ/FRS, miatas, G37S, Q50S 3.7 (modded), etc... These cars can be bought with 50-80k miles for around 15-20k only. Insurance shouldn't be too crazy nor is the maintenance. Gas will be a bit more since some are V6s but N/A V6s are reliably quick enough and can even beat stock scatpacks/ R/Ts.
@jaycarter2x
8 ай бұрын
Lmao I got tired of driving bs too except i’m 21😂joined the Army at 18 and went on deployments to the Middle east and Germany to finally afford my 2.0t Accord🏆
@zeppkfw
8 ай бұрын
@@jaycarter2xyou didn't buy a mustang or a charger so that's a huge win!
@stewey2298
Жыл бұрын
I once had a roomate who decided he wanted a nice 34 or 36K dollar car. It was very nice. But once he got it, the apartment complex we were in had him stressing every day because it was not a nice area, and he had one of the better cars in the lot. So he decided to rent a house instead, and ended up paying triple his share of the rent to move to a better area away from crime. So the price of that car ended up being very very high. He was a high earner, but also stretched himself very thin on his cost of living.
@seventheleven
Жыл бұрын
Ouch! No point in earning the big bucks if you cant sock some away for the future
@lakaiskates8064
Жыл бұрын
Got a nice car and moved out of the ghetto? Sounds like a win-win to me
@hankhill3417
Жыл бұрын
Typical
@clickbaitpolice1750
Жыл бұрын
@@lakaiskates8064 he’s gonna retire later tho
@arsenal4444
Жыл бұрын
@@lakaiskates8064 lenders and car salespeople love your attitude
@andymadine4756
7 ай бұрын
Right on man! Your winning champ. These are my exact thoughts and my exact situation. Love to see it from somebody else!
@kindnessandseverityofgod9187
Жыл бұрын
I appreciate the fact that your just being honest about the vanity part. That says a lot about you. Blessings
@LumberjackLandlord
Жыл бұрын
Drive a beater! I drive a 04 yukon. 186k miles. Drove a 20 year old car a 160 miles a day round trip. 1500 dollar car.
@LumberjackLandlord
Жыл бұрын
Great video. If you think you can or think you can't... u are right
@bobcantstandzyobitz9778
Жыл бұрын
My Mazda has over 350k miles on it but it isn't a POS. I keep it in very good shape. The point is it is better to buy used than brand new. I bought it slightly used, 8k miles, but I'm using it to its full potential.
@FUBBA
7 ай бұрын
I feel like I'm one of the few people on the road when I drive with a car from the 20th century. Everyone's got that 2024 model and I'm like "how the heck do they afford this and a house at the same time?"
@MistakenForIris
7 ай бұрын
They can't, they're keeping up a facade.
@Spungebobonicerocks
7 ай бұрын
How can they afford it? Probably by saving nothing, having debts, and saving on all the wrong things. I own renault twingo which I paid around 600 dollars. But I save a lot, have zero debts, and I eat god damn steak three nights a week and supporting my aging parents.
@appalachianwoman561
6 ай бұрын
My grandma always used to tell me "A fool and their money are quickly parted" and the older I get the more I see with my own eyes just how true that is. I enjoy only owning beaters, I don't have to worry about where I park, or other people's crazy driving as much.
@1labrinth
Жыл бұрын
I went golfing with two guys that both had a yearly salary invested in new trucks. There was a hail storm and every car got dented all over. I could justifyingly see the pain in their eyes when we got back to the parking lot. Cars are going to get scratches, dings, dents.
@edwardeighth1948
Жыл бұрын
No insurance?
@happydays454
Жыл бұрын
Imagine the insurance checks that's a dream come true 😂
@buckfifty-two-thousand8640
Жыл бұрын
Time to find a different room
@admiralrustyshackleford119
Жыл бұрын
Back in 2014 a tornado picked up my neighbors garage and basically flipped it on top of my 1986 F150. After an afternoon of cutting away the biggest chunks of the rubble with a sawzall I drove the truck out from under the pile basically looking the same as it did before having a building thrown at it... Not saying it was a cherry truck before hand, but it didn't even break any glass or smash the roof in or anything. That neighbor had a fairly new dodge ram and a Toyota minivan in the garage, and they both looked like someone beat the absolute hell out of them with a sledgehammer. I still own that F150. Nobody builds a real truck anymore.
@danieldaniels7571
Жыл бұрын
I drive an old Saturn. It doesn’t dent. It has a plastic body. Hail bounces off of it.
@ethanlaughlin9303
Жыл бұрын
100% agree. I drive a 2000 toyota camry. I'm working on building my wealth and being able to do whatever I want in life when I reach financial independence. I could care less what anyone thinks of what I drive.
@davidzoller9617
Жыл бұрын
Camry (pre 2007) in my opinion is one of the top choices. You will get a very decent and reliable ride coming with one of the longest lasting engines around. Smart choice.
@briank5877
Жыл бұрын
Awesome man your truly not free if you have debt
@inertiaforce7846
Жыл бұрын
99 Camry here.
@charliesanchez6094
Жыл бұрын
Great cars older camrys
@hankhill3417
Жыл бұрын
Yep
@adamschaeffer1565
7 ай бұрын
My grandma sold me her 1999 Altima w 80k miles on it in 2014 for $1,500. Perfect condition. Almost 180k on it now still doing just fine. Saved me sooo much money.
@larrypanellajazzsaxophone8013
8 ай бұрын
I grew up in the northern U.S. where road salt was used and despite some built in rust proofing it is important that if you are going to buy a beater, that you get someone to take a deep look at it. Rusty frames/subrames and badly rusted uni-bodies are dangerous. However, now I live in the South where vehicles that have not been exposed to road salt, so I have been willing to buy older vehicles. I own 4 cars, 3 of which were bought with over 100K miles. We've driven them for several years, one of them gaining nearly another 100k miles on it (Honda CRV). Every vehicle is bought with cash - no loans. We maintain them regularly and they have lasted. We've had a few price repairs, but the repair didn't come close to the value of the vehicle so we fixed them. Most brands will last longer than what I grew up with. There are certain brands, Honda and Toyota that have great reps for reliability. There are some domestic brands that are pretty reliable too, especially those that have drivetrain/body plans that have been around a while. If you take your time, do your homework, you might find something that might be a little dated looking, but will take you where you need to go and it will be paid for. This, while your friends are sweating payments, higher insurance, higher tag costs, and higher repair costs. They may look more well off, but there's a good chance they are not far from being broke.
@coldcloakmusic6630
Жыл бұрын
I drive a car that has roll down windows….my coworkers laughed at me but I don’t have a car payment and they bought cars they can’t afford anymore
@wesleyhurd3574
Жыл бұрын
In regard to buying new: "I want the car. I don't want the stress of the car." Very relatable
@Queso305
Ай бұрын
I miss my old prelude. Bought it for 740, drove it for 2 years, parked it for 2-3 more, sold some parts online and then sold the car for $600. It was the best car i ever had, just got tired and blew a head gasket. Iregret not fixing it but feeling free from a monthly payment was fantastic
@rnt45t1
Жыл бұрын
I financed a brand new Challenger in 2017, when I was 28 years old. It was completely out of self-indulgence and vanity. I paid $500 a month in financing, over $100 a month in insurance, and god knows how much in gas. The vehicle was fast, loud, and fun. It never got me laid. I sold it in 2021 when I was finally trying to get out of debt. I bought a $1,400 Pontiac Vibe when I sold the Challenger. I paid off all my other debt. Now I'm debt free and still drive the Vibe. Sometimes I miss that Challenger but the older I get the more I realize how much I can't stand people that drive Challengers.
@NoName-to5xl
Жыл бұрын
I'll bet you got laid in the pontiac!!!
@arlenburgin2392
Жыл бұрын
Vibe is Toyota
@MatthewDragos-kg7js
Жыл бұрын
I’m someone who for the foreseeable future, plans on experiencing a different car every 3-4 yrs. And I’ll be the first to say that a lot more videos like this one are desperately needed. The amount of people who have negative equity because they want to be perceived as successful by driving a certain car is absurd. A lot of things to blame for this but ultimately it’s a lack of self control & abysmal priorities. I’m a car guy who can easily drive past a beater & barely bat an eye because odds are, that person is smarter than me.
@Argedis
Жыл бұрын
That's exactly how I think. When I see people driving older Toyota's like mine I know they're smart people. Also if you drive around low income neighborhoods you tend to see a lot of new cars in the driveway compared to more older cars in higher income neighborhoods. People stay broke by living like they're rich.
@jaimereyes4157
Жыл бұрын
lol
@baronrichmond5667
Жыл бұрын
I agree to an extent.... beaters are more prone to breakdowns. I think a decent car at a good used price is the best way to go...not a beater.
@Rhye7767
Жыл бұрын
I wouldn’t say that necessarily, a lot more people struggle than you think
@Argedis
Жыл бұрын
@@Rhye7767 The people that struggle are the ones buying new cars to keep up with the Joneses and can barely keep up with the payments.
@C-SkiSportsCards
8 ай бұрын
I had one new car when I was 19, and I learned my lesson. High payments and high insurance.... since then, I've driven junk. My wife and I usually have 3-4 cars on hand that I paid on average 2000 a piece bucks for. This way, if one breaks down, I have a backup on the spot. I understand everyone's situation is different. Luckily, I can do most of the maintaince and repairs myself, so I save money that way also. My philosophy is that the essence of a car is to get from Point A to Point B. It doesn't matter if it's a brand new Mercedes or a 1000 dollar rust bucket... traffic is traffic, red lights are red lights doesn't matter what car you're in.
@gburn9377
7 ай бұрын
I daily drive a beater, and my garage has a big turbo nismo in it. Best of both worlds. People need to understand that there are people that love cars, its their hobby. Everyone doesn't buy cars to impress people.
@hotrodray6802
Жыл бұрын
"You wouldn't worry about what people think about you if you realized how seldom they do."
@ryang.5094
Жыл бұрын
Stoicism
@rogersmith7396
Жыл бұрын
Damn straight! You are alone. Deal with it.
@michaelsmith-bn6no
11 ай бұрын
I drive right at the speed limit just to piss people off. If the sign says 30, then i'll set my cruise right at 30. If i'm on the freeway, and the speed limit is 60, the cruise gets set at 60. No-one does the speed limit anymore except for me. The looks I get are hilarious.
@rogersmith7396
11 ай бұрын
@@michaelsmith-bn6no I do. Yes it pisses people off and I laugh. Helpful trick: When they tailgate you as always, flip the mirror to night time and you don't even know they are there. Had one of these A holes following me when a deer jumped out which is normal here and I hit it as I locked the brakes. Mr. Shithead suddenly saw the problem with being a tail gator. And yes you can lock anti lock brakes.
@winstonmiu
Жыл бұрын
I always thought about what it would be like to get my dream car, but the stress of fuel, insurance, maintenance, and general worry of damage on top of the initial high purchasing price make me think twice about it. The carefreeness of driving a beater is the luxury.
@samuelroselli138
Жыл бұрын
100% When someone T-bones your 1,200 dollar car with 200k it’s mostly an annoyance because you need another car, not a financial catastrophe.
@GTStuning-
Жыл бұрын
I purchased my dream car a few years ago and he is exactly right about many points. The nervousness related to parking it at a store lot or leaving it in a lot for 8+ hours when at work, that hits home. I drive it maybe 5 or 6 times a month and am never relaxed when trying to enjoy a calm cruise in it. I'm hoping the more I drive it, the more I will enjoy it, but I find new road related scratches/chips on it after a long drive. That aspect makes it tricky to enjoy as it's in such pristine condition and each drive has the potential of causing new paint chips....learning to let go of that constant worry. My daily driver is a 99 GMC Sierra and it has been dented and mildly scraped up against, yet I have no worries as it's getting rusty anyways. Sure it's old but insurance on it is disgustingly cheap and I don't owe anything on it.
@winstonmiu
Жыл бұрын
I’m a huge sucker for manuals and tend to like smaller + simpler cars anyway. I’m not a fast driver but I derive so much pleasure from tooling around in a manual compact beater.
@Three_Days_Of_Solitude
Жыл бұрын
I own a Mustang 2015 GT 50 years edition which is my garageQueen. My daily/weekend is a 1999 Citron Xantia which I fixed up myself. Low insurance and ok mileage
@tanyaflanders2196
Жыл бұрын
Totally agree with this.
@YoutubeWatts
7 ай бұрын
I just purchased a 911 Turbo S. Previously, I prided myself on being frugal, but I noticed I was becoming judgmental towards those who spent freely. I was too focused on accumulating wealth without enjoying it. Why save it all for someone else to spend after I'm gone? If you've built significant wealth, it's okay to allocate a portion, say 25%, to enjoy yourself without regrets.
@seankauder9721
7 ай бұрын
You can get an extremely safe, comfortable, reliable beater. My 2009 crown victoria police interceptor is a great example. Paid just over $5k for it, it's lasted me 60,000 miles so far and it's still going strong. Comfiest car Ive ever been in, it's only broken down once, and its survived multiple accidents - one of which was sliding out and hitting a sign at 80 mph on the interstate (I drove it away without any person injuries, not even whiplash)
@noble20xx56
5 ай бұрын
Those rides will always be badass.
@danmorash6982
Жыл бұрын
I drive old beater vehicles. The money I saved over the last 15 years has transformed my life. I also drive 2 hours to and from work. Be sure you are honest with yourself and not making excuses.
@coreymurphy2711
Жыл бұрын
If u drive a beater 2 hours to work then your the kinda idiot the corporate machine loves
@Bvsterrrrrrrrr
Жыл бұрын
@@coreymurphy2711 maybe he is making $10k a month and he loves it.
@2muchtime579
Жыл бұрын
This is true especially for men. I have seen so many of my friends go broke simply because of cars. Being content with a reliable cheap car is the way to go!
@marinson
Жыл бұрын
True. I drive a 1996 Ford Ranger....same thing u do. It's all image...people need to look cool. Actually a large branch just fell on it and dented the hood and cracked the windshield. No biggie. Popped the hood back out and Wednesday Safe-lite will replace windshield. This truck is great. If u are not rich...and are secure in who you are and have good, clear goals....don't waste $$$ on a nice car.
@hondahirny
9 ай бұрын
Definitely agree! It’s not how much you make (within reason) but how you spend your money. I have purchased 3 new cars, but all were kept a long time. My “new” 2013 car now has 220k miles. Take good care of your car and you’ll be amazed how long they can last 😊
@leo959
Жыл бұрын
“In loneliness, the lonely one eats himself. In a crowd, the many eat him. Now choose” ~ Friedrich Nietzsche
@drmodestoesq
Жыл бұрын
And in Nietzsche's case syphilis spirochetes ate his brain.
@leo959
Жыл бұрын
@@drmodestoesq they didn’t have the technology we’re currently have today as a whole. He was ahead of his time.
@rogersmith7396
Жыл бұрын
This is getting rather elevated for "Uneducated Economist". Perhaps Yanis Varifaulkis can be the next guest.
@drmodestoesq
Жыл бұрын
@@rogersmith7396 Not to be pedantic but it's Yanis Varoufakis.
@rogersmith7396
Жыл бұрын
@@drmodestoesq Be as pedantic as you wish. After all its You tube.
@rx7driver1
Жыл бұрын
Absolutely, Dave Ramsey has been preaching this for years
@springfield03sniper
Жыл бұрын
He also said to buy Silicon Valley bank stock…
@Daniellihomes
Жыл бұрын
@@springfield03sniper highly doubtful as he doesn't recommend single stocks. Which episode was this on?
@branscombe_
Жыл бұрын
@@Daniellihomes exactly
@armchaireconomist8648
Жыл бұрын
Rx7driver1 is Dave Ramsey going to drive you around when your beater breaks down.
@rx7driver1
Жыл бұрын
@@springfield03sniper send me a link of him saying that. I think you have him confused with Cramer on CNN
@MrTinman712
Жыл бұрын
People buy a new car who can't afford it and that's where the problems start. Absolutely agree with this. In my experience I've have some bad luck and ended up spending far more on used beat ups than new. But I've been fortunate enough to find an avenue to make a calculated risk, i found an apartment that enabled me to walk to work, i was able to buy a new car while simultaneously investing and even then, the car payments put on a significant amount of stress. I can't imagine what that's like for people in tougher situations. Be reasonable about what you can afford, and a nice new car is something not many can.
@SteffiReitsch
8 ай бұрын
I just ride a bicycle. It's almost free. That's just part of it. Over the years, I became a millionaire on low income.
@brutebiz82
Жыл бұрын
Own and drive two vehicles. One is a 2003 Toyota Camry with a V6 and 380K miles; the other is a 2005 Toyota Tacoma with 435K miles. I've had the Camry for 15 years and the Tacoma for a decade. The only thing I've done is preventative maintenance and tires every few years on both. Since I reside in the Northeast and we use a generous quantity of salt and calcium chloride I apply fluid film to the frame every Fall, (pressure washing the undercarriage and drying BEFORE application). Neither are pretty to look at, but both are still on the road and continue to pass rigorous state inspection standards every year. Definitely have treated me well and allowed me to focus more on attaining my goals of financial security.
@neonreign2988
Жыл бұрын
Nothing beats the reliability of a Toyota. I have an '04 LE Camry with 207,000 miles that I daily and an '01 Lexus IS300 with 137k miles. It's nice having a dirt cheap insurance policy, even with PIP and underinsured motorist.
@WorldPowerLabs
Жыл бұрын
I have 320k miles on an old, late-1990s Ford truck... it's not as reliable as a Toyota, but nonetheless, parts are cheap and plentiful, it's easy to maintain and repair, and it's only left me stranded twice (two failed alternators). It's becoming difficult to get certain parts for my even-older Toyota.
@johnjones393
Жыл бұрын
@@WorldPowerLabsThose late 90s Ford trucks were stout. Much better than their cars.
@tangiblebear5309
Жыл бұрын
I drive a 1998 oldsmobile. Got it free. $500 a year for insurance. My head liner also sags. I'm very grateful to God for everything. Thank u Simon
@user-bl8yh5qu1u
7 күн бұрын
Oh my good, your opinions speak directly to my heart, I love cars and an ultimate cheap skate, I never understood the need to purchase a new car where I can buy it with a 20% price with probably 50% of the life in it. Consumer responsibility! But these opinions seems to go against the crowd and is so unpopular.
@charlesben9104
Жыл бұрын
Ever notice how you work to pay for a house you just end up sleeping in at the end of the day to rest and get up the next day to also pay for the car that gets you to that job?
@mbjasondify
Жыл бұрын
If you are mechanically inclined, 15 to 20 year old vehicles are easier to work on due to their design, parts are abundant and cheaper. They are also abundant due to the majority of people love getting into NEW vehicles. Another point, driving used or even vintage cars are a supreme act of recycling. The carbon footprint of new vehicle production is astounding.
@robertm5969
Жыл бұрын
This is especially true for high volume cars. We have a 17yr old honda and 17yr old Infiniti. The Honda parts are a fraction of the Infiniti parts. I've been buying them all from rockauto lately
@mikeprice8307
Жыл бұрын
Not pontiac gto 04-06 everything is becoming discontinued
@clickbaitpolice1750
Жыл бұрын
I’m thinking of getting a 2009 Volvo S60 AWD for $4k. Anyone have any opinions on it?
@Tecalitlan1943
Жыл бұрын
Great point.
@austinjames3525
Жыл бұрын
I own two mid 90s GMC trucks and a 2012 Nissan Altima, and your comment is the truth! The trucks are my mess around vehicles and the Nissan is my daily. I paid 1000 bucks for the Nissan and it was the best purchase I’ve made. I’ve put 10k miles on it and haven’t spent a dime on anything besides gas. I like working on vehicles so I spend more than I should on the trucks, but overall it’s so cheap compared to something new and the maintenance on something new.
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