Same thing happened to me and my family. Instead of buying a newer car, I found a used car and it has been working great. You just have to keep looking and eventually you will find something.
Did not mention, but whatever his monthly payment that he was allocating to the car loan, can now be used towards debt as well. I'm sure its hundreds of dollars so that should speed up that 23 month projection as well and meet Dave's 10 month goal.
My 2006 Merc was damaged by hail and smashed into by another car on the rear passenger door a year later. Still driving it with 140k miles because I have no car payment and I love not owing on a car.
I totaled my car in my early 20s. Got 4K from insurance. My car was already paid off, but I got a 4K car that was paid in full. Lasted me for years. Upgraded and paid in cash for the next one.
You buy a cheaper car, used...then you are happy you are not in more debt, and when the new cheaper used car breaks you pay to fix it and are happy ALL the repairs it will need is still less money then the newer nicer car you really wanted...OR you can buy whatever vehicle you really want and stress about how you will pay for it every month like most people do lol...
This seems like a very simple problem - spend $8k cash on a minivan when insurance “maybe” totals the car. They do the Dave Ramsey plan, but have they ever listened before?
They've basically only been in it for a bit over a month. It's rarely that easy to fully switch mindsets to where they can think clearly that quickly...
Private sale Japanese cars under 10k all day every day until you’re actually rich. Half of America is going broke trying to look middle class with these goofy car payments.
I went through a similar accident recently. It took two weeks to get an estimate and three months to fix/get parts. It wasn’t my fault. However, the other person didn’t have insurance. Luckily I have full coverage, but it’s still a nightmare. I had to pay two months out of pocket for a rental as mine was only covered for 30 days.
Send your out of pocket expenses to the insurance company they likely will go after the other guy in collections for what they had to pay... maybe you get some of that back. Right now due to parts shortages car repairs are taking way longer now than normal.
Learning to fix your own car will go a long way to being able to stay out of debt. Good maintenance will keep the cars on the road for a decent amount of time.
$8K owed, should be a check for $14K, leaving them with $6K in cash in a few weeks. They can get plenty of cars for under $6K. $22K remaining in debt if they merely put the $6K into the next car.
@@reese85 And? That's kinda the point. They get a check for the $8K owed to them. He gets the other $6K+ himself. He's only on the hook for the deductible, maybe not even that.
Always amazes me how people can live this carelessly without batting an eye until something goes wrong and now its panic mode, and yet they probably wont learn from it
Bought a used 2010 Eddie Bauer Ford Explorer in 2017 for around $10K. It had 38K miles and was mostly spotless. Still driving it and only at 60K miles. Wife’s 2017 Explorer Limited is paid off too. Peace of mind for sure.
I was involved in a recent accident where my vehicle was totaled. Advise you to check online, which is where I got information faster. Also call them every few days if you do not see any progress.
We bought a new Corolla 2009 and in 2021 a reckless driver hit our car snd smashed the wheel inward so we couldn't drive it and insurance company declared it as total loss. Due to Toyota had resale value so the insurance gave us good market value. We used that cash to buy Toyota matrix 2010 with 40k miles lesser than our Corolla however we had to add $1300 extra to buy the matrix which was fine with us.
I’m in this situation right now, I barely got my car 3 months ago, brand new and upside down. I have no savings. They want to total my car out and I have no way of getting another car and no help. My credit is horrible and my husband already has a personal loan and can’t get another one, HELP
@@jimmymcgill6778 I have had several cars totaled, a custom 1972 chevy truck with scratched paint, $3000 check and gave me the truck back with a salvage title. Bought the van back for $1K and pocketed the $4K popped the dents out, put 60K miles more and sold for $1200
I just paid $5,800 cash for a 2014 Mazda CX-9. It has some body issues, but it runs fine. If he's not in a hurry, he can take his time and look for a deal. It took me five weeks to find what I wanted at a price I was willing to pay. I know he started to say they've been looking and haven't seen anything, but keep looking. Work looking for a used car like it's a part-time job.
As a prior claims adjuster (and now VP of Claims), this is false. They offer the same actual cash value amount based on their software regardless of if you're represented or not.
@@alinatamashevich3354 I bought a van for $3K cash Totaled at $5500 (load bearing roof dented by tree) Black Book value? $500 deductible Bought the van back for $1K and pocketed the $4K popped the dents out, put 60K miles more and sold for $1200
Im back 😢. Just hit a deer last night. Around 4k worth of damage. Car was only worth 4500 last time i got a quote from carmax before the damage. Definitely dl not want to by a new or used car with current interest rates. Help!!!😢
If the guy gets $7-8k from the insurance payout, and can't scrape together another $2-3k to get a better car, then they're not doing something right financailly.
" live like no one else, so later you can live like no one else " ? I have big issues with that advice. This guy is lucky to be walking away from a totaled car accident. Nobody is guaranteed tomorrow.
Question is whether the car is drivable or not. Just because the insurance company says it's a total loss doesn't mean it's unsafe. If the vehicle is functional and drivable, then don't let the insurance total it.
Would think it depends on the type and year of car. Don't think I want to take a chance with these newer cars and complicated electronics,lithium batteries,and whatnot. Would hate to turn on the radio and the airbag activates.
Does anybody else scroll through the comments and gleefully report all the spam bots? These awful things are all over RUclips these days, I see them everywhere. Even on homesteading content they try these spam scams. Really a shame RUclips can't figure out how to stop them faster.
Next time file a first-party claim (even when you're not the at-fault driver). Unlike a third-party insurance carrier, your insurance carrier (first-party) has legal obligations to you. If a first-party insurance carrier causes unreasonable delays or otherwise misbehaves, it exposes them to a potential bad-faith lawsuit.
Use the 7k settlement money to pay down CC debt. Don't buy a second car coz you already have the Ford focus. Pay off the remaining CC debt in 12 months then buy a second car.
The problem with your solution is that they're a family of seven so a second car is needed. The only other practical solution is to sell the Ford Focus and just have one bigger car if only having one car is an option for their household.
he can also save like a maniac while the insurance futzes around, and add 2-3k to that 7-8k net he's getting; will get him a nice 10k van or something for the gang He could also sell his Focus, and commute for a few months to accelerate the process.
Good luck finding a car here in Florida under 10k that does not have a rebuilt title, but needs work example timing belt, looks like a total pos, and yet they think it's worth 8 k on a 3 k car....Then the Stealership has all the fees and ad on... No so grasshopper..
@@unfairsanic5089 I’ve been a mechanic for the better part of 20 years and if you are not a mechanic. You’re going to be miles and dollars ahead. To get a loan on something newer and possibly with a warranty still.
🇺🇸 My back, neck hurts. Fingers, legs, toes are numb. I get headaches AND mentally stressed. Vision is blurred. Doctors, chiropractors bills are stacking up to millions!
Yup it's bad enough dealing with the stress from an accident or emergency. Also many don't read their insurance documents. Some insurance policies have a waiting period like long term care. That's why it's good to have a large emergency fund or quick access to cash(not debt) to cover immediate up front costs.
He's lucky that this isn't on the east coast back in the day when the insurance adjuster wouldn't claim the car totalled to get a kick back from THEIR CHOICE of an auto repairshop. He would end up with a pos rebuild.
@@blackworldtraveler3711 Most insurance try and starve one out. They will drag their feet, in hopes the claimant will settle for pennies on the dollar. Understanding this tactic will help one win the protracted war that will be waged. A good attorney knows this.
call a wambulance, he's gonna have to drive an $8000 car. lol -- i'm a millionaire and i drive a $5000 car because I DON'T CARE WHAT PEOPLE THINK! that's why i have money and they don't.
@CZsWorld um negative in almost every area of this country...I have a 45 minute drive on highways and bridges when I have to go to the office...no it's not practical for most.
The truth is that it is temporary and it is happening becasue you lived above your means ie spent money that you did not have to spend. If you are in debt you are not a victim but the perpertator.
Find a better job working from and f a car. Most people put a million dollars into there long by smokin it. I'm sure we doen hundreds thousands in cars over a lifetime but then wonder why they not millionaire. Can you have a nice car and become a millionaire yes. But I know alot people with cars but I most of them not millionaires.
@@earlysda For a family with five children in the US, that's not a high wage by any means. They have debt and no money, it's likely only earnings from one parent.
0:11 ❤❤❤❤❤❤ You deserve all what god has blessed you with God wants you to be where you at //sir❤❤❤ You solid and you deserve all you god given blessings 😊😊
Same thing happened to me and my family. Instead of buying a newer car, I found a used car and it has been working great. You just have to keep looking and eventually you will find something.
Same. It was scary since its my first used car but that was the most freeing thing I’ve done for myself.
How much was it?
The guy is alive and calm, that is win.
Is it?
Did not mention, but whatever his monthly payment that he was allocating to the car loan, can now be used towards debt as well. I'm sure its hundreds of dollars so that should speed up that 23 month projection as well and meet Dave's 10 month goal.
My 2006 Merc was damaged by hail and smashed into by another car on the rear passenger door a year later. Still driving it with 140k miles because I have no car payment and I love not owing on a car.
I have an 08 Merc Grand Marquis, they are tough as nails!
A friend of mine sold his 70k car and bought a 3k car. The smugness he felt for the monthly saving was well worth any dent to pride he said.
I totaled my car in my early 20s. Got 4K from insurance. My car was already paid off, but I got a 4K car that was paid in full. Lasted me for years. Upgraded and paid in cash for the next one.
Must be nice
You buy a cheaper car, used...then you are happy you are not in more debt, and when the new cheaper used car breaks you pay to fix it and are happy ALL the repairs it will need is still less money then the newer nicer car you really wanted...OR you can buy whatever vehicle you really want and stress about how you will pay for it every month like most people do lol...
This seems like a very simple problem - spend $8k cash on a minivan when insurance “maybe” totals the car. They do the Dave Ramsey plan, but have they ever listened before?
Probably not!
Yes indeed..."maybe" they won't total it. He could end up with a horrible rebuild if the adjuster can find a shop willing to "do it" 🤣
They've basically only been in it for a bit over a month. It's rarely that easy to fully switch mindsets to where they can think clearly that quickly...
@@andymschott that’s right, they said October, and it’s only December… I didn’t realize
Maybe he should sell the Focus and add it to the 8k to get a 16k minivan.
Private sale Japanese cars under 10k all day every day until you’re actually rich. Half of America is going broke trying to look middle class with these goofy car payments.
2006 Corolla for 4k
@@Muricastuff Florida, does that car run well?
@@earlysda excellent
New cars are for people who can’t afford used ones.
Thats why there broke
I'll use that one
People need to get out of their own way and drive cheaper stuff and get some margin in their lives
That's very funny! I appreciate your thinking differently. It's all in your/my/our attitude.
😂😂
I went through a similar accident recently. It took two weeks to get an estimate and three months to fix/get parts. It wasn’t my fault. However, the other person didn’t have insurance. Luckily I have full coverage, but it’s still a nightmare. I had to pay two months out of pocket for a rental as mine was only covered for 30 days.
Send your out of pocket expenses to the insurance company they likely will go after the other guy in collections for what they had to pay... maybe you get some of that back. Right now due to parts shortages car repairs are taking way longer now than normal.
Learning to fix your own car will go a long way to being able to stay out of debt. Good maintenance will keep the cars on the road for a decent amount of time.
👆👆I will link you to something new profitable.....👍
$8K owed, should be a check for $14K, leaving them with $6K in cash in a few weeks. They can get plenty of cars for under $6K. $22K remaining in debt if they merely put the $6K into the next car.
He can pay it off
The lender is goin to take their money for the 8k they owe on the car 1st
@@reese85 And? That's kinda the point. They get a check for the $8K owed to them. He gets the other $6K+ himself. He's only on the hook for the deductible, maybe not even that.
@@aboutwhat1930 you clearly said there should be a check for 14k and that’s not true!
Is it possible to get a decent car in America now for under 6,000usd?
Always amazes me how people can live this carelessly without batting an eye until something goes wrong and now its panic mode, and yet they probably wont learn from it
👆👆I will link you to something new profitable.....👍
Caller: Yeah I have a little over $20k in consumer debt.
Dave: Ok cool. Well done.
LOL! Good catch.
Bought a used 2010 Eddie Bauer Ford Explorer in 2017 for around $10K. It had 38K miles and was mostly spotless. Still driving it and only at 60K miles. Wife’s 2017 Explorer Limited is paid off too. Peace of mind for sure.
I was involved in a recent accident where my vehicle was totaled. Advise you to check online, which is where I got information faster. Also call them every few days if you do not see any progress.
Never give ANY statements or SIGN anything....ever.
7-8k car these days is a joke. Its going to be a POS. decent cars now at least around my area are 15k plus
5:40 "this is an adventure" just got me through today. I don't think like that; hearing that statement is somewhat of a eureka moment to me.
We bought a new Corolla 2009 and in 2021 a reckless driver hit our car snd smashed the wheel inward so we couldn't drive it and insurance company declared it as total loss. Due to Toyota had resale value so the insurance gave us good market value. We used that cash to buy Toyota matrix 2010 with 40k miles lesser than our Corolla however we had to add $1300 extra to buy the matrix which was fine with us.
My car was about $8400. It's in really good shape and although it has over 100k miles, it's a reliable commuter vehicle. Nobody needs a $60k car
I'd buy a $2000 car and throw the rest on debt. We did it for two years. Yes, had to keep pouring oil in it every month but it got us through BS2.
2000 dollar car gets you an absolute junker nowadays
I’m in this situation right now, I barely got my car 3 months ago, brand new and upside down. I have no savings. They want to total my car out and I have no way of getting another car and no help. My credit is horrible and my husband already has a personal loan and can’t get another one, HELP
It's 8 o'clock in Boise Idaho.....
Use the insurance money, to pay the dealership off, then use the rest to buy a new one.
When you totaled a car! The lender takes their money up front and than you get a check for the reminder
@@reese85 I never totaled a car. I didn't know the insurance pays it, I thought you had to.
@@jimmymcgill6778
I have had several cars totaled,
a custom 1972 chevy truck with scratched paint,
$3000 check and gave me the truck back with a salvage title.
Bought the van back for $1K and pocketed the $4K
popped the dents out, put 60K miles more and
sold for $1200
How to find a good "reliable" used car? I do not understand technical aspects of the car.
I just paid $5,800 cash for a 2014 Mazda CX-9. It has some body issues, but it runs fine. If he's not in a hurry, he can take his time and look for a deal. It took me five weeks to find what I wanted at a price I was willing to pay. I know he started to say they've been looking and haven't seen anything, but keep looking. Work looking for a used car like it's a part-time job.
Do not hire a billboard attorney....ever. They are turn and burn and not in your favor.
You describe the vast majority of PI attorneys.
@@tristan2332 A good attorney does not advertise. Their reputation does the talking.
But their fake overwhite teeth, fake sinister smiles and false promises are so enticing! 🤣
Caller said they are going the other person insurance
Better call Saul!
Make sure you check NADA value before you accept their offer. They will low ball you since you don't have a lawyer.
As a prior claims adjuster (and now VP of Claims), this is false. They offer the same actual cash value amount based on their software regardless of if you're represented or not.
@@jordanb433 They need to pay inline with local comps, not a insurance computer program. Insurance companies keep 75% of attorneys in business
@@alinatamashevich3354
I bought a van for $3K cash
Totaled at $5500 (load bearing roof dented by tree)
Black Book value?
$500 deductible
Bought the van back for $1K and pocketed the $4K
popped the dents out, put 60K miles more and
sold for $1200
I came here expecting him to say the car loan is underwater and he has no gap coverage.
Im back 😢. Just hit a deer last night. Around 4k worth of damage. Car was only worth 4500 last time i got a quote from carmax before the damage. Definitely dl not want to by a new or used car with current interest rates. Help!!!😢
If the guy gets $7-8k from the insurance payout, and can't scrape together another $2-3k to get a better car, then they're not doing something right financailly.
They don't have $2000 or more because everything they had was put towards their debt except for the $1000 starter emergency fund.
@@megalodon1726 Right if they followed Dave true...
$20k in debt w/ $75k income paid off in 10 months? Only if you live in a tent. There are other places their money has to go.
Family of 7.....and only 1k in the bank is crazy
And then KEEP PAYING YOURSELF a monthly payment so you can upgrade to a nicer car in a year.
" live like no one else, so later you can live like no one else " ? I have big issues with that advice. This guy is lucky to be walking away from a totaled car accident. Nobody is guaranteed tomorrow.
The risk you have to worry about is not that tomorrow won't come. The risk is that tomorrow WILL come and you're not prepared.
Question is whether the car is drivable or not. Just because the insurance company says it's a total loss doesn't mean it's unsafe. If the vehicle is functional and drivable, then don't let the insurance total it.
Would think it depends on the type and year of car.
Don't think I want to take a chance with these newer cars and complicated electronics,lithium batteries,and whatnot.
Would hate to turn on the radio and the airbag activates.
Why not? If they don’t totaled out the car than you gotta come up with the rest of the money to fix it!
@@genxx2724 derp that's why I wrote don't let the insurance total it.
@@genxx2724 You just ask them to pay you less than the total. It's not like they complain about paying you less.
And when you say pay less you r referring to the repairs ?
Does anybody else scroll through the comments and gleefully report all the spam bots? These awful things are all over RUclips these days, I see them everywhere. Even on homesteading content they try these spam scams. Really a shame RUclips can't figure out how to stop them faster.
Next time file a first-party claim (even when you're not the at-fault driver). Unlike a third-party insurance carrier, your insurance carrier (first-party) has legal obligations to you. If a first-party insurance carrier causes unreasonable delays or otherwise misbehaves, it exposes them to a potential bad-faith lawsuit.
👆👆I will link you to something new profitable.....👍
Get a used one. Case solved.
At least he will get exercise walking everywhere after the used one breaks.
Get a policy with a rental car included. It gets them settled faster.
👆👆I will link you to something new profitable.....👍
The only time I had good luck on purchasing a used car was to get one from the dealership with low miles. Still pricey but in the long run worth it.
👆👆I will link you to something new profitable.....👍
Use the 7k settlement money to pay down CC debt. Don't buy a second car coz you already have the Ford focus. Pay off the remaining CC debt in 12 months then buy a second car.
The problem with your solution is that they're a family of seven so a second car is needed. The only other practical solution is to sell the Ford Focus and just have one bigger car if only having one car is an option for their household.
I don't think he's at 75k
he can also save like a maniac while the insurance futzes around, and add 2-3k to that 7-8k net he's getting;
will get him a nice 10k van or something for the gang
He could also sell his Focus, and commute for a few months to accelerate the process.
Merry Christmas Ramsey
👆👆I will link you to something new profitable.....👍
Get a lawyer. you have injuries
Always get an Attorney! Insurance companies DO NOT represent you. They protect their bottom line.
Good luck finding a car here in Florida under 10k that does not have a rebuilt title, but needs work example timing belt, looks like a total pos, and yet they think it's worth 8 k on a 3 k car....Then the Stealership has all the fees and ad on... No so grasshopper..
Used Toyota Sienna or pre '07 Suburban
I think Dave is EXTREMELY out of touch with the cost of vehicles today…
I saw bunch of cars that are 7k and below at private sales and craigslist rn, it is possible just make sure you bring a mechanic with you
The hardest part is paying car in cash
@@unfairsanic5089 I’ve been a mechanic for the better part of 20 years and if you are not a mechanic. You’re going to be miles and dollars ahead. To get a loan on something newer and possibly with a warranty still.
for 6k, you can get a good reliable used car.
@@jimmymcgill6778 wait, so you agree with DR?
Toyotas and hondas under 150k miles are great value cars thats you can get a lot out of
These old folks act like they never learned an oz of finicial knowledge lol. Dave to the rescue
1994 Celica is the answer
👆👆I will link you to something new profitable.....👍
I’ve been in worse situations and never called Ramsey
10 months for 20k making 50 why does he not add taxes they never do lmaooo that’s impossible with bills
Most insurance companies have to close a case in 30d. I would suggest that the closer you push it to that time, the higher the check will be.
They will drag it out as long as they need.
That's not true at all. Time does not equate to more money. They will only pay actual cash value for the car. No more no less.
The General will drag it out and then low ball you.
Call Morgan and Morgan
🇺🇸 My back, neck hurts. Fingers, legs, toes are numb. I get headaches AND mentally stressed. Vision is blurred. Doctors, chiropractors bills are stacking up to millions!
These insurance companies sure do want their money on time just drag their feet cutting the check to make it right.
Yup, they try and starve one out, make them feel pain so they will sign for less money. Don't fall for it.
Yup it's bad enough dealing with the stress from an accident or emergency.
Also many don't read their insurance documents. Some insurance policies have a waiting period like long term care.
That's why it's good to have a large emergency fund or quick access to cash(not debt) to cover immediate up front costs.
He's lucky that this isn't on the east coast back in the day when the insurance adjuster wouldn't claim the car totalled to get a kick back from THEIR CHOICE of an auto repairshop. He would end up with a pos rebuild.
@@blackworldtraveler3711 Most insurance try and starve one out. They will drag their feet, in hopes the claimant will settle for pennies on the dollar. Understanding this tactic will help one win the protracted war that will be waged. A good attorney knows this.
As others mention, file a claim with your insurance, today.
The other party's insurance is clearly trying to delay this.
👆👆I will link you to something new profitable.....👍
2010 lincoln town car 120k mikes is like 7000 out the door so with that
Can't afford a new car don't get a new car. Get what you can afford.
call a wambulance, he's gonna have to drive an $8000 car. lol -- i'm a millionaire and i drive a $5000 car because I DON'T CARE WHAT PEOPLE THINK! that's why i have money and they don't.
A lot of Kristina clips lately. Not complaining. Just saying. Y'all trynna tell us something?
Like what? That she's a new personality? That's not breaking news
Dave tryna get diverse viewership.
@@Primitive_Code uh what??
She was the only one who didn’t take PTO over Christmas/New Years weekend?
I drive a 09 chevy sedan. my F U car
your wife and your kids get the good car ... and you get the poo car
looking forward to hearing the news about dave any day now! diabetes is serious! soon isn't soon enough.
👆👆I will link you to something new profitable.....👍
The look on her face is like bro… stop being such a baby and buckle up like the rest of us!
I don't understand why Dave never just tells people to get a bicycle! Way cheaper, no maintenance fees, way more enjoyable and safe to operate.
Many areas that's 100% not a practical solution...
@@tduck828 it's always going to be more practical then a car
How are you supposed to ride a bicycle in the middle of winter with subzero temperatures when you have a fifteen minute or more commute to your job? 🙄
@CZsWorld um negative in almost every area of this country...I have a 45 minute drive on highways and bridges when I have to go to the office...no it's not practical for most.
@@wordman3624 Jacket
Sounds like the only person with a nice car at Ramsey Solutions is Dave smh
👆👆I will link you to something new profitable.....👍
Ramsey, do you have control of what adds are shown?
I wish my car was worth $8k
Y’all miss that he said he has SEVEN kids!!
I heard him say they are a family of seven, which means five kids.
He must go to the bus 🚍
👆👆I will link you to something new profitable.....👍
The truth is that it is temporary and it is happening becasue you lived above your means ie spent money that you did not have to spend. If you are in debt you are not a victim but the perpertator.
👆👆I will link you to something new profitable.....👍
Find a better job working from and f a car. Most people put a million dollars into there long by smokin it. I'm sure we doen hundreds thousands in cars over a lifetime but then wonder why they not millionaire. Can you have a nice car and become a millionaire yes. But I know alot people with cars but I most of them not millionaires.
Not everybody's goals to become a millionaire
Who puts a million dollars into their lungs by smoking it?
@@firefly9838 then I hope they enjoy cat food because that’s what they’re going to be eating in their retirement if they’re not millionaires.
The majority can't seem to reach a million by 70 so the will likely never reach a million.
@@johnmartin4641 so it's cat food or millionaire... nothing in between. Right.
That income seems low for a family of seven. No wonder they're in debt. Someone needs a job.
75,000usd/year is "low"??? That's more than twice the median Japanese income.
@@earlysda For a family with five children in the US, that's not a high wage by any means. They have debt and no money, it's likely only earnings from one parent.
NEVER TAKE THE INSURANCE FIRST OFFER!!!!!
👆👆I will link you to something new profitable.....👍
0:11 ❤❤❤❤❤❤
You deserve all what god has blessed you with
God wants you to be where you at //sir❤❤❤
You solid and you deserve all you god given blessings 😊😊
👆👆I will link you to something new profitable.....👍
Just buy the whole family scooters 🛴
Some of those scooters are fast AF honestly
Vespa's rule!