Sometimes it's nice that your choices are validated by a guy like Dave. And as Dave said, the guy was humble about it, just wanted to hear a second opinion.
if he's gonna sell his sons, might as well never got married and have kids, we all know raising kids cost the most, he can save way more $$ never having kids than selling his kids
Yes, but do you get extra satisfaction from buying “hey look at me” car? I rather spend it on first class plane tickets rather than spending time with the plebes.
@@jamesl9539 Car enthusiast cars like GTR is not a 'hey look at me' car. For an enthusiast its a car that brings a smile to your face every time you get in and put your foot down. If first class plane tickets give you the same joy then its worth it. For me, that is throwing away money for a couple hours of a little more comfort.
@dummy999 wasting money is a relative term. To one individual, it's wasting money, but to another, it's a hobby. No one has a right to say its wasting money as everyone interests are different.
Who cares if it goes down in value. It’s not like he’s trying to sell it. He wants to buy it and keep it. So the value of it doesn’t really matter. Life is short, just buy it. If he didn’t have any money saved, that would be another story
A Nissan GTR used will hold its value it won’t appreciate but it’s less than 10 percent of his total net worth. If he’s disciplined enough to just say that’s his toy for the next decade the price shouldn’t matter much
If he’s “buying the car in cash” but keeping a $150K mortgage, then he’s really mortgaging his house to buy a car. Doesn’t seem in alignment with the Ramsey way… 🤔
@@farzana6676 if they can be bent for someone with a $3M net worth, they can be bent for someone with a $500K net worth. What net worth do you think Dave would draw the line at..? 🤔
@@BenjaminButton6573 Yes, they will most likely increase in value over time. Obviously, the caller can comfortably afford the car. $150K left on his mortgage isn't much, but I would feel more at ease with my house paid off...and he probably would not be calling Dave to ask his opinion.
I drove a GTR around a race track back in 2018. I also drove a Lamborghini and a Ferrari. The GTR was most memorable to me because it was a lot of fun to drive, but you can easily drive it home and enjoy it everyday. The Lamborghini & Ferrari felt like race cars with license plates.
I'd have a really hard time wanting to pay the cost of maintaining the Lambo or the Ferrari. The Ferrari is the one car I will never own. I'm with Jay Leno on his logic with never owning a Ferrari.
I’m very similar to this guy but no kids and low life cost. I bought the 2024 GT-R. It cost $150k. Also GT-Rs don’t depreciate normal at all. Super rare. I put 3.5k miles and it’s worth $20k more than I paid. Crazy. Congrats to him and his new GT-R.
Yes, me too. I was really thinking he was going to say a C8 Corvette. But he said GTR and my "No, no, no" went to "Well, lets run the numbers again" lol
He said he had like over $400K in liquid assets. Not sure what that meant but if I was him while I was pulling money out of that for the car I'd pay off my house too.
That’s a good point because liquid assets means you can pull the money out. Those aren’t retirement funds. Just pay the house and the car off at the same time.
He's fine. My wife and I make about 500k a year total and we just bought a 70k car.. and that felt steep. It's all about what you're comfortable with too.
You sound similar in mindset to me, my wife and I gross over $200k per year and bought a $36,000 vehicle a few years ago, and it was the most I ever spent on a vehicle and was about the max I would spend. I hope my next vehicle is $10,000 or less😂
Im just getting into those levels and yes, basically I think 10-15% of your gross is about what you should spend on a car. For me, that means a new Subaru or a five year old Volvo.
My wife and I are of similar income and mindset! Just got rid of our 12 year old car and bought a similar one year preowned for $70k and it took me awhile to pull the trigger on the purchase. It seems that the older I get, the more frugal I become. We should be enjoying the fruits of our labor more but that is how we got to this position.
@@tylersanders2388 that guy with the rolls Royce was making like $300k a month he could easily afford it he was paying a car payment on it and Dave told him just buy it in cash dude.
@@ayyaaaa9533 there's no joy in buying toys either, or the joy lasts for very short period of time, which makes you buy even more expensive things. This is why many millionaires are unhappy and end up in wasting their life with drugs...
That is the smartest thing he does. Millionaires are millionaires because they hesitate to spend. You can’t take it with you when you are dead BUT you can sure use it when you get laid off, retire, get sick, want to stop working early, or want to buy a stupid expensive car.
@@RyanBerich-u1wYou're mixing two worlds-your modest life with that of a millionaire. You think a millionaire lives and thinks like you do. By the way, a millionaire doesn’t work for others.
@@SuzukiKid400 making less than 500-1m per year*. 200-300 is a pretty good bracket for people to run themselves into the ground because they feel like royalty and spend like congress without saving shit. income means very little until youre talking in M's instead of K's
TYPE/MAKE of vehicle is a huge question though. If it’s a new AMG or Range Rover, absolutely no. GTR, Porsche, etc much more of a hedge. Resell around sticker.
If he could buy it cash, like Dave Ramsey mentioned, then I would go for it. A R35 is a badass car and it seems like he has the net worth to justify the purchase.
He doesn't ask the intetest rate, but I'd argue that a low enough rate would justify keeping the mortgage because the markets will very likely beat a 3-ish % intetest rate over time. But yes he probably should've asked.
Because it wouldn’t make sense. He likely has a low interest mortgage and 1.5 million in equity. People in that position aren’t exactly struggling to make payments.
@@heels4lifx I agree, this man has graduated from the baby steps 3.5 million net worth. Dave is treating him like an everyday millionaire, not like a broke person in debt.
@@vangtk10 His net worth (assests minus liability) is still in millionaire status so this is the only time it's different -- With that being said - I'd still pay off the car.
@FATmenDRIVEtrucks Unless it's a JDM GTR it likely hasn't appreciated. It sounds like he's describing an R35 by the way he talks about it. Those aren't losing much if any value but they're not gaining either.
@danieldavison9138 definitely a R35 there about end it go electric or hybrid. So these will be worth what he pays forever likely. Kinda like a 2008 model cost $70k new still $70k in 2024. My buddy made $16k on his less then a year(covid) I don't think Dave Ramsey understands rare desirable vehicles as much as he thinks. This isn't a dime a dozen corvette or F150 that everyone has lol
He says he has $800K in retirement funds, $400K liquid (cash), $90K each for his two boys college, I think he can easily afford a $130k car. He has more than enough liquid cash to pay off his mortgage any time he wants.
Not sure I agree w/ Dave. I sold an e46 M3 14 years ago for 19k. Anyone see what a good example of that goes for now?! Sometimes cars CAN go up in value, especially if they're exotics.
i’m a bmw nut and i see clean ones around 30 realistically, yes they go up esp porches and m cars but that car can also get totaled, crashed, stolen etc. Not to mention inflation, upkeep, insurance, etc etc so some cars are excellent investments as value holders but you’ll never “make” money off a car unless you flip them
1988 E30 M3 sold for $100K. I met a guy at the cars and coffee meet who paid $205k for a lightweight E30 M3. I still have a manual E46 M3 sitting in the garage with 80K on the odometer. It has the full Dinan suspension and has never seen rain. It still looks brand new. It has ppf on the front, detailed and ceramic coated.
“Can I afford $130k car?” “How much do you make?” “$14k a month” “ So, like $150-200k?” “Oh I don’t know. Whatever that adds up to. I’m a guy and I have a Subaru so I give me $130k car kthx”. This show never ceases to make me feel better about myself.
That’s really the point of the show. Everyone knows what they’re supposed to do. These videos just give you someone to point at and say “glad that’s not me”
Spending stupid money on a car isn't always stupid if the car won't depreciate off a cliff. Buying a new $130k S class is far more stupid, than a GTR, especially given the difference in miles they would likely see. The better idea is find something that is likely to stay level or even appreciate and buy that for a good deal. In my case I've got my eye on Aston V12 Vantage that can be had for under $100 right now. Buying at the trough of the depreciation curve is key, and that key is found through rigorous research.
I have a 93 Toyota Supra TT. I will also be buying a GTR soon in my life. This is where i disagree with Ramse, i personally dont buy cars to resell, so whether the car depreciate or not, it doesn't influence my decision.
I am a Singapore citizen. 130k car is considered cheap here. In Singapore, to own a car for 10 years, u will need to have a paper certificate to allow you to own one. The certificate itself cost 100k Singapore dollar and that is not even the car price or the tax.
@yeahwhateveridc6062 my initial question never even mention anything about whether I enjoy. All I am saying is that Singapore is expensive. Not sure what is your intention. But since u ask, yea I enjoy. I owned my own home, have decent household income. Get to go on oversea holidays 3 to 4 times a year. Work from home and enjoying it. No money issues at all. Invest my monies and the investment profits cover my holiday expenses. So in a way, I travel for free, buy latest tech gadgets anytime I want since money is not an issue. I am married with kids, have a fulfilling life with family outings. I have a maid that does all my household chores and cook for my household, so I don't need to waste time on doing chores. I get to have alot of personal time and game with my married friends after work. A beautiful and understanding wife who infact earns more than me and contribute to our household income. Yea I am happy. Are you?
When I was a kid I desperately wanted a Honda CRX that was kinda cool that time. Now I could buy one for a couple of grands, but not interested anymore. 😁 Although, I get that some people need expensive toys.
@@johnabitabile5035 Really a supra? Compared to a GTR. There is no comparison. You would have to make engine modifications to supra just to even compete with a GTR.
Yeah at this point I’m buying a rare exotic perfomonte lambo only 300 made per year around 280k-300k some cars truely won’t lose much value over time compared to this gtr no offense
What are you talking about? They just released the ordering for the 2023 and they’re upgrading the facelift for the 2024 model. It sounds like you haven’t done your research.
I’m happy for this dude too, I would love a gtr. I actually think it could go up but I could be just biased (and I’m in Australia) I think his put himself in a great position to ask for the Ramsey shows blessing on this 🤷🏾♂️
Could do a lot worse than a GTR, worst case scenario he needs to dump it at some point for $80k. People buy ‘sensible’ cars that depreciate $50k all the time. Buy it and enjoy it!
This caller needs to ask his retirement planner if he can afford to buy it. What I heard is that the caller has $800k in his retirement account (which is probably too little for his age and income) and $400k in other accounts. While the equity in his house certainly counts toward his net worth, that amount is not readily accessible and only contributes to his retirement when he sells the home. He is essentially asking if he can take a large portion of his liquid nest egg and buy a depreciating, unnecessary toy. That could have a real impact on his cash flow in retirement. If he doesn’t want to sell his home when he retires and wants to maintain his present standard of living, he could be facing a serious shortfall even without purchasing the car. He needs a careful analysis that is beyond the scope of this phone call.
A gt r he’s talking about will go up depending on mileage and condition. A 1996 r 34 is almost 200 to 300k to import and buy. Sam thing with the Toyota Supra. If you can find an old one they are 200 plus. This is a solid buy if your going to spend that amount on a car.
I am worth $6 million and have no household debt. Yet, I drive a 2017 VW Jetta that I bought certified Preowned for $12,000 in 2019. My income last year was $490,000.
That means you simply don't enjoy cars. I have a fraction of your total worth, yet drive a $106,000 BMW. I go to local cars & coffee events, mile-long drag races on closed airstrips, participate in car-related social media, modify and work on my vehicles, etc. Automobiles can be every bit as much of a hobby as music, film and photography, athletics, vacations, etc, and are completely worth the expense to the right person.
That’s cool but like the guy above me cars aren’t your thing; however I would bet money you have a different vice where you allocated funds to that logically doesn’t make sense.
@@WLJ1287 I go on fancy vacations with my family at least two times a year. I just love to save money on things. I think that is why I was able to save and invest so that my net worth is what it is. I am definitely a saver.
@@jamesl9539I wish I was like you… I have a Lambo, Escalade, Tesla and I’m about to trade the Tesla for an M8. Make about a million a year. I just love my damn cars lol
I was like you for a couple of decades... I'm worth about $10M and drove my Toyota for 15 years.. then last year decided to splurge 150k on a Porsche.. no buyers remorse.. should have done it sooner...
1.5M house, what’s the state property tax on that in Philly? When one retires (even if house is fully paid by then), really need a large nest egg to cover all these expenses, health insurance, car insurance, bills/utilities, helping kids education etc. Inflation just eats away on one’s savings.
Successful people don't become that way overnight. What most people see at a glance- wealth, a great career, purpose-is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life and this new year shall get you closer to your goals and open more opportunities to you
Not all cars go down in value and depreciation rates can be extremely low if you choose smartly. In 2009, I ordered and purchased a 2010 Porsche 911 GT3. With an out the door cost of $128k and putting down $29k it was a stretch for me to afford the high payment, but I had low debt and enough income to pay for it. I knew at that time that depreciation would be really low and due to the limited availability of the car, I could easily exit without a major loss. By 2015, this car had already started appreciating over the original sticker price and has substantially appreciated to over $200k today. There are lots of opportunities today where you could purchase with very low depreciation if you are willing to do the research and buy with your head instead of your emotional urges.
Ramsay is wrong. A 120k GTR (presumably R34) is going to go up in value or at the very least retain it. If they’re talking about R35 it has future classic potential so it would be a good investment too. Don’t be borin and live your life people
I would pay off the house and finance the car. Why? Because if something happened and you lost all your money and you couldn't work because of a medical emergency, you could loose your house. On a car loan the worst that would happen is you loose your car. He would probably have a higher payment, and would loose a little more in interest, but owning your house outright is worth it IMO.
I am somewhat surprised they didn't say pay off the house, or at least ask what his payments are on the mortgage. I think for me to comfortably buy a car for that much at my age right now, I think I would have to be around $10 million. Of course I wouldn't be buying a car, I would be buying land.
I hear that. I love cars, I mean they are really cool. We go to the track every year for a weekend or more. They're awesome! But they're not cool enough for me to spend that much on them. I'd rather just enjoy my friend's cars and toys, then buy a chunk of land on a lake to call my own. Or maybe in the mountains. On that, I'm still undecided, but it is coming thanks to the Ramsey plan and hard work.
Here’s the thing your net worth is different than his and ratios are different. If your cars are less than 10%, your net worth in the ratios are correct.
This caller sounds exactly like the guy who called Dave “stupid and arrogant” for not prompting index funds and asked him a while back if he thought he was smarter than Warren Buffett
oh yeah? because from the sound of it he's got plenty of brains, 180k combined in two of his kids 529's, 400 in liquid, bunch in retirement. 130k on a fun toy is a drop in the bucket for him. you sound jealous. sure he can drive his boring subaru until kingdom come, but he decided he wants to live a little, and good for him, he's done plenty for his kids future and his own.
There is a 2014 Track Edition GT-R for sale in NJ for $84k with low mileage. Why spend almost double to get 99% of same experience? Just look around and buy one when market drops.OR buy a brand new Porsche Cayman or 718 Boxster for $84K and that will satisfy your desire. I have my s2000 that I paid $14k for 12 years ago in the garage that doubled in value and satisfies my "toy" needs. I get it, I love Japanese sport cars the best, but there are many other choices out there for 1/2 price.
a GTR wont go up, but it wont go down too much either. its not going to depreciate like a new loaded pickup or suv. id say go for it, you have cash...enjoy it!
If anyone here is NOT a car guy, you will never understand. Also, this guy can more than afford the car 😂😂😂. I wouldn't pay cash though. Would have probably financed for a few years then sell or trade. I think those retain value.
The monthly payment on the car is certainly not a big deal but the liability created by the purchase kills a good Balance Sheet. Like he said, if you’ve got the cash pay it otherwise it’s not a good decision.
Bought my GTR this year. Bought a 2013 instead of a newer one just due to not much has changed since 2013. Got one for $70k and just as fun as a newer $130k one
One of the only late model exceptions I’ve seen is the 4th gen Toyota Supra. If you bought a decent one for $60-$80k 15-20 yrs ago, they are worth 4-5x that today if in good shape
Why is there an expectation that people should not buy an expensive car because it depreciates in value?… you aren’t buying it as an investment unless it’s an antique etc.
Take 100k of the 130 and put it towards the mortgage, pay it down! Then take 30k and go on a family vacation every year for the next 5 years, family time is way more important than one car.
The GTR is an outdated car that is not worth what they currently sell for. It is basically a 2009 car still sold new. They are hard to find because no one buys them so dealers don’t want them on their lots. Buy something half the price that is twice the car.
I'm surprised Dave said to buy this car. He needs to pay off his house. And $14K a month is pretty easy to calculate to $168K a year which is not $200K
These are high demand cars that go back to the 1990s, I see why the caller asked Dave for advice. GT-Rs don't plummet in value he'll use it as a everyday driver
Why not pay off the house and drop that interest payment? Then a year or so later he would have that money saved back up to buy it in cash. Paid off toy and paid off house, that’s the dream.
@@cody5596 Based on the contribution limits to 401k, it can be tough to grow it very fast. It's gone up every year and currently it's like $23k/year so if you figure he's maxing it out and getting an average of 8-9% return for 20 years, $800k is about right. He's also been investing in two 529 plans and his own taxable brokerage account. With that current income, I'm guessing he's around 50 but what's truly impressive is having like $1.3M equity in his house.
A lot of us are struggling right now. We are suffering and most of us do not know where our next meal is coming from. This guy having $1.4 million (assuming he is being truthful) is an incredible amount of wealth, he is the kind of person capable of buying something like that car.
@@randymillhouse791 But what kind of life is it to live in fear like that all the time? Driving in a used Honda is not a proper way to live your whole life. He wants a car that tells the world he is a somebody, that he has made it.
And then there's me, a normal European guy, that questions about buying a 40k car to replace his 17 years old Fiat, having a net worth and income much higher than his..I'd never spend 130k in a car...1 year after the excitement is already gone!
![Blox Fruits Dragon Rework Update [Full Stream]](http://i.ytimg.com/vi/EqDAp8udhm0/mqdefault.jpg)
This guy has already convinced himself he’s buying this car- he just wants Dave’s permission.
😂😂😂
Is a gtr tho
Exactly 💯
Sometimes it's nice that your choices are validated by a guy like Dave. And as Dave said, the guy was humble about it, just wanted to hear a second opinion.
If I were him Id buy it in a heart beat
Pay off the house, sell the sons, use their college money for the car
Brilliant advice!😂
Ayooo😂
There you go 🤣🤣
There we go!
if he's gonna sell his sons, might as well never got married and have kids, we all know raising kids cost the most, he can save way more $$ never having kids than selling his kids
Not all our purchases are rational. If we're passionate about something go for it. Live your life within means. Dont go bankrupt but enjoy your life
Yes, but do you get extra satisfaction from buying “hey look at me” car? I rather spend it on first class plane tickets rather than spending time with the plebes.
@jamesl9539 everyone has different interests and hobbies. Whatever floats your boat, go for it.
@@jamesl9539 Car enthusiast cars like GTR is not a 'hey look at me' car. For an enthusiast its a car that brings a smile to your face every time you get in and put your foot down. If first class plane tickets give you the same joy then its worth it. For me, that is throwing away money for a couple hours of a little more comfort.
Doesn't mean you have to waste money unnecessarily in the long run. Being diligent and tightly rational are 2 different thinfs
@dummy999 wasting money is a relative term. To one individual, it's wasting money, but to another, it's a hobby. No one has a right to say its wasting money as everyone interests are different.
If I was Dave, I'd have said "Pay your house off first with that 150K" !
Me screaming this at the screen right now! 🤣
He has enough money to do both🤔
The house may be a low enough interest rate where its worth just continuing to pay the mtg
I think dave knew he was already gonna buy the car already
@@robertclark4784 Dont know much about Dave do ya?
Who cares if it goes down in value. It’s not like he’s trying to sell it. He wants to buy it and keep it. So the value of it doesn’t really matter. Life is short, just buy it. If he didn’t have any money saved, that would be another story
💯
This is how people stay broke. It’s all about balance. If you buy a 400k car and keep it, you still spent 400k.
@@reaper-sz5tm Then why are you working?
@@wadeharris348 because I love working, not working to stay home all day is weak as fuck
Smart money people care about it. Broke people don't care. That is the difference.
I'd take the $130K and pay off the house!
I'm not saying that that's what I would do, but I can't believe Dave didn't even mention that
@@michaelc7014 cuz he has the net worth and no other debt but the house
I would as well. I’d bet the house isn’t worth what he thinks though. Houses are rapidly losing value.
@@user-tb7rn1il3q if it was appraised at 1.5-1.6 million! It’s not goin to lose a bunch of value! A few hundred thousand at best
A Nissan GTR used will hold its value it won’t appreciate but it’s less than 10 percent of his total net worth. If he’s disciplined enough to just say that’s his toy for the next decade the price shouldn’t matter much
If he’s “buying the car in cash” but keeping a $150K mortgage, then he’s really mortgaging his house to buy a car. Doesn’t seem in alignment with the Ramsey way… 🤔
Yeah, but it's a car so Dave doesn't care about being consistent.
The dude is in a great place so Dave is a bit more lenient with him.
The principles can be bent for a dude who has a $3m net worth.
@@farzana6676 if they can be bent for someone with a $3M net worth, they can be bent for someone with a $500K net worth. What net worth do you think Dave would draw the line at..? 🤔
@@CalmerThanYouAre1 Dave draws the line at $2m net worth.
GT-R's are one of the least-depreciating sports cars. I would pay off my house first, though.
Yeah but they will go up
@@BenjaminButton6573 Yes, they will most likely increase in value over time. Obviously, the caller can comfortably afford the car. $150K left on his mortgage isn't much, but I would feel more at ease with my house paid off...and he probably would not be calling Dave to ask his opinion.
So true. He compared the value to a Raptor lol. JDM cars hold value like crazy and will appreciate maybe with everything going hybrid and electric
I drove a GTR around a race track back in 2018. I also drove a Lamborghini and a Ferrari. The GTR was most memorable to me because it was a lot of fun to drive, but you can easily drive it home and enjoy it everyday. The Lamborghini & Ferrari felt like race cars with license plates.
I'd have a really hard time wanting to pay the cost of maintaining the Lambo or the Ferrari. The Ferrari is the one car I will never own. I'm with Jay Leno on his logic with never owning a Ferrari.
Camaro ZL1 1LE beats it on track for 1/2 the price, see C&D Lightning Lap
I’m very similar to this guy but no kids and low life cost. I bought the 2024 GT-R. It cost $150k. Also GT-Rs don’t depreciate normal at all. Super rare. I put 3.5k miles and it’s worth $20k more than I paid. Crazy. Congrats to him and his new GT-R.
As the old saying goes, "If You Have To Ask..."
NO, pay off your house first!!! Until I heard GTR. lol
why pay off the house, when its worth 1.6m and he owes only 150k
Yes, me too. I was really thinking he was going to say a C8 Corvette. But he said GTR and my "No, no, no" went to "Well, lets run the numbers again" lol
@@sn4rl277for real. A GTR is one of my dream cars…might have to run the numbers haha
He said he had like over $400K in liquid assets. Not sure what that meant but if I was him while I was pulling money out of that for the car I'd pay off my house too.
yeah, i would’ve asked “what do you call ‘liquid assets?’”
Means index, stocks, or cash.
It means non retirement. Mix of cash and non retirement investments
That’s a good point because liquid assets means you can pull the money out. Those aren’t retirement funds. Just pay the house and the car off at the same time.
depends on the interest on the house, If it's
Honestly, if you have to ask if you can afford a GTR, you can't afford it.
I mean, this guy definitely can. I feel like this adage only really applies to the 1% these days.
He's fine. My wife and I make about 500k a year total and we just bought a 70k car.. and that felt steep. It's all about what you're comfortable with too.
You sound similar in mindset to me, my wife and I gross over $200k per year and bought a $36,000 vehicle a few years ago, and it was the most I ever spent on a vehicle and was about the max I would spend. I hope my next vehicle is $10,000 or less😂
Im just getting into those levels and yes, basically I think 10-15% of your gross is about what you should spend on a car. For me, that means a new Subaru or a five year old Volvo.
My wife and I are of similar income and mindset! Just got rid of our 12 year old car and bought a similar one year preowned for $70k and it took me awhile to pull the trigger on the purchase. It seems that the older I get, the more frugal I become. We should be enjoying the fruits of our labor more but that is how we got to this position.
You all clearly not into cars 😂
If you have to ask, probably not.
No there’s been a couple calls where Dave was caught off guard over the years where he said yes to Porsches and even a Rolls Royce once
Don't be stupid
Did you listen to it? Lol
I would buy it if I was in his position. He’s earned the ability to purchase this car. With or without it he’s set.
@@tylersanders2388 that guy with the rolls Royce was making like $300k a month he could easily afford it he was paying a car payment on it and Dave told him just buy it in cash dude.
This guy is gonna buy the car anyway, this is a stupid call
A millionaire who hesitates to buy his dream car. So pathetic, your money won't go with you into your graveyard.
It’s about having enough in retirement and for his kids.
@@IamnotJokic what guarantee you that you live to the 80's, besides there is no joy in life when you are old and weak.
@@ayyaaaa9533 there's no joy in buying toys either, or the joy lasts for very short period of time, which makes you buy even more expensive things. This is why many millionaires are unhappy and end up in wasting their life with drugs...
That is the smartest thing he does. Millionaires are millionaires because they hesitate to spend. You can’t take it with you when you are dead BUT you can sure use it when you get laid off, retire, get sick, want to stop working early, or want to buy a stupid expensive car.
@@RyanBerich-u1wYou're mixing two worlds-your modest life with that of a millionaire. You think a millionaire lives and thinks like you do. By the way, a millionaire doesn’t work for others.
Millionaire Adults asking for permission to spend money LOL
That’s is exactly why they are millionaires. You don’t become a millionaire making less than $200k per year without saving.
@@SuzukiKid400 making less than 500-1m per year*. 200-300 is a pretty good bracket for people to run themselves into the ground because they feel like royalty and spend like congress without saving shit. income means very little until youre talking in M's instead of K's
I don’t consider this guy a millionaire
@@allstarmark12345it’s not really about what you consider, it’s what the math says and it says he’s a millionaire
@@allstarmark12345 What you talking about? He IS a millionaire.. it is a mathematical fact.
TYPE/MAKE of vehicle is a huge question though.
If it’s a new AMG or Range Rover, absolutely no. GTR, Porsche, etc much more of a hedge. Resell around sticker.
Gtr don't resale well
If he could buy it cash, like Dave Ramsey mentioned, then I would go for it. A R35 is a badass car and it seems like he has the net worth to justify the purchase.
And in a couple years it will still be worth quite a bit. even a 10 year old 2013 model GTR is at the absolute lowest $70k up to $130k.
Why does a married guy with kids need a badass car?
@@karlabritfeld7104 to get away from the wife and kids for a few hours
@@karlabritfeld7104 women don’t like cars like this lol
@@karlabritfeld7104 I cruise my 63' Ford with my kids, why not?
I am with all of you. Why didn’t Dave tell him to use that money to pay off his house ?
He doesn't ask the intetest rate, but I'd argue that a low enough rate would justify keeping the mortgage because the markets will very likely beat a 3-ish % intetest rate over time. But yes he probably should've asked.
Surprised Dave didn't tell him too pay off his house.
Because it wouldn’t make sense. He likely has a low interest mortgage and 1.5 million in equity. People in that position aren’t exactly struggling to make payments.
Same!!
@@heels4lifx I agree, this man has graduated from the baby steps 3.5 million net worth. Dave is treating him like an everyday millionaire, not like a broke person in debt.
@@Marthastewart209. an everyday millionaire who has $150k in debt but still goes on to buy a $130k car doesn’t sound right.
@@vangtk10 His net worth (assests minus liability) is still in millionaire status so this is the only time it's different -- With that being said - I'd still pay off the car.
The fact that Dave used an F150 Raptor to compare to a GTR in the situation 😂
I don't even know what a GTR looks like but it felt odd lol.
Raptor is better in this situation lol. Rather spend the 130 on a 700hp Raptor
@@schauerpictures2638 raptors aren’t 130K, you’d be severely overpaying
@@schauerpictures2638 id rather get a raptor and a rivian r1t
Raptor and GTR are completely different category. Raptor is great on dirt road, GTR is all asphalt.
😂 Dave is so over his head when it comes to cars it's hilarious
What he’s saying is it’s not guaranteed for it to increase. It’s very easy to crash that car and lose all of its value.
@@mosescarrilloit’s a GTR do some research before typing
@FATmenDRIVEtrucks Unless it's a JDM GTR it likely hasn't appreciated. It sounds like he's describing an R35 by the way he talks about it. Those aren't losing much if any value but they're not gaining either.
@danieldavison9138 definitely a R35 there about end it go electric or hybrid. So these will be worth what he pays forever likely. Kinda like a 2008 model cost $70k new still $70k in 2024. My buddy made $16k on his less then a year(covid) I don't think Dave Ramsey understands rare desirable vehicles as much as he thinks. This isn't a dime a dozen corvette or F150 that everyone has lol
Ferrari's always go UP ! LOL GTR is a POS JDM front motor car ! NOT sweet!
I like the nissan gtr as well, but I couldn't go with having one in the garage before having the mortgage paid off.
Not until the house is paid off as far as I'm concerned.
He says he has $800K in retirement funds, $400K liquid (cash), $90K each for his two boys college, I think he can easily afford a $130k car.
He has more than enough liquid cash to pay off his mortgage any time he wants.
He’s good
@@wescald ok
Once you have enough assets paying off your house is dumb
@@JK-zt4ym why
Not sure I agree w/ Dave. I sold an e46 M3 14 years ago for 19k. Anyone see what a good example of that goes for now?! Sometimes cars CAN go up in value, especially if they're exotics.
i’m a bmw nut and i see clean ones around 30 realistically, yes they go up esp porches and m cars but that car can also get totaled, crashed, stolen etc. Not to mention inflation, upkeep, insurance, etc etc so some cars are excellent investments as value holders but you’ll never “make” money off a car unless you flip them
Yes let’s bring up the exception as a means to justify a decision against a generality
Ha I did something similar. I sold mine for 14k and I could not buy it back for that price.
1988 E30 M3 sold for $100K. I met a guy at the cars and coffee meet who paid $205k for a lightweight E30 M3. I still have a manual E46 M3 sitting in the garage with 80K on the odometer. It has the full Dinan suspension and has never seen rain. It still looks brand new. It has ppf on the front, detailed and ceramic coated.
Yes, many many enthusiast cars go up in value.
“Can I afford $130k car?”
“How much do you make?”
“$14k a month”
“ So, like $150-200k?”
“Oh I don’t know. Whatever that adds up to. I’m a guy and I have a Subaru so I give me $130k car kthx”.
This show never ceases to make me feel better about myself.
🤣
That’s really the point of the show. Everyone knows what they’re supposed to do. These videos just give you someone to point at and say “glad that’s not me”
That guy makes 250-300k gross. If that makes you feel better I'm not sure why
Some people call this show to brag to others how rich they are.
It’s only a brag call if you view it that way!
Dont think it was a brag call i have realized watching this show alot of ppl out there liked to be told what to do even if they know the answer
Or as ammunition for the wife’s protest.
I would not buy it period. Pay off your house dude. Toys fade over time
If you by the right cars and take care of them, they DO NOT go down in value. Collector cars that is.
Spending stupid money on a car isn't always stupid if the car won't depreciate off a cliff. Buying a new $130k S class is far more stupid, than a GTR, especially given the difference in miles they would likely see. The better idea is find something that is likely to stay level or even appreciate and buy that for a good deal. In my case I've got my eye on Aston V12 Vantage that can be had for under $100 right now. Buying at the trough of the depreciation curve is key, and that key is found through rigorous research.
Good to see Dave on(even if it's an older vid)
This is pretty new. She’s the newest personality.
This was from Monday's live show.
Not older video.
I have a 93 Toyota Supra TT. I will also be buying a GTR soon in my life. This is where i disagree with Ramse, i personally dont buy cars to resell, so whether the car depreciate or not, it doesn't influence my decision.
For a minute I thought he wanted to buy a freaking Tesla, which no way would Dave approve. So glad it was something decent.
I am a Singapore citizen. 130k car is considered cheap here. In Singapore, to own a car for 10 years, u will need to have a paper certificate to allow you to own one. The certificate itself cost 100k Singapore dollar and that is not even the car price or the tax.
yeah ask yourself, do SG people really enjoy their life? sure its one of the best countries to live in, but do they really enjoy their life?
@yeahwhateveridc6062 my initial question never even mention anything about whether I enjoy. All I am saying is that Singapore is expensive. Not sure what is your intention.
But since u ask, yea I enjoy. I owned my own home, have decent household income. Get to go on oversea holidays 3 to 4 times a year. Work from home and enjoying it. No money issues at all. Invest my monies and the investment profits cover my holiday expenses. So in a way, I travel for free, buy latest tech gadgets anytime I want since money is not an issue.
I am married with kids, have a fulfilling life with family outings. I have a maid that does all my household chores and cook for my household, so I don't need to waste time on doing chores. I get to have alot of personal time and game with my married friends after work.
A beautiful and understanding wife who infact earns more than me and contribute to our household income.
Yea I am happy. Are you?
Who is this new lady? She is great! Great voice and nice chemistry with Dave.
Her name is Jade Warshaw.
Jade has to live by Ramsey law! No fun for her.
People thinking of buying 100k+ cars without having 1mil in cash sitting in their bank is just insaine.
When I was a kid I desperately wanted a Honda CRX that was kinda cool that time. Now I could buy one for a couple of grands, but not interested anymore. 😁 Although, I get that some people need expensive toys.
I'd kill for a super clean CRX. They are so hard to find these days lol
@@cdcnd4spd13 yes, very rare and collectable
I had a CRX HF, I sold it. I regret it everyday :(
Clearly you’re not tapped into current old car values
Pay off the house, with your monthly mortgage payment, finance the car. Sell the car when you get bored of it, (Which you will)!
Guy who can’t answer the question of how much he makes annually wants to buy a car worth $150k.
YOLO go for it! Make yourself happy. If you have the money there is no need to ask anyone.
TBH a GTR is probably one of those rare cars that might actually go up in value. Just look at the prices for the original GTR's.
I'd look into getting one that's done its fair share of depreciation. The r35 GTR hasn't changed much over its lifespan.
I was thinking for that money go for the new Supra and save a few $$. The Supra is a great car
It’s been the same for 13 years.
@@alexrios1737 yep about time to retire it
@@johnabitabile5035 Really a supra? Compared to a GTR. There is no comparison. You would have to make engine modifications to supra just to even compete with a GTR.
Yeah at this point I’m buying a rare exotic perfomonte lambo only 300 made per year around 280k-300k some cars truely won’t lose much value over time compared to this gtr no offense
Ill bet that GT-R wont lose that much in value. They don't make them anymore
What are you talking about? They just released the ordering for the 2023 and they’re upgrading the facelift for the 2024 model. It sounds like you haven’t done your research.
Yes they do
Dumbest shit I ever did... buy a used 120K G-Wagon w $5K down. 3 months later those 2100 payments are making me think REPO dat thing!
How much you owe? Let’s talk. Lol
Buy a used GTR! I love mine and they retain value!
I’m happy for this dude too, I would love a gtr. I actually think it could go up but I could be just biased (and I’m in Australia) I think his put himself in a great position to ask for the Ramsey shows blessing on this 🤷🏾♂️
Why didn’t he pay off his mortgage before buying the ridiculously expensive car?
Could do a lot worse than a GTR, worst case scenario he needs to dump it at some point for $80k. People buy ‘sensible’ cars that depreciate $50k all the time. Buy it and enjoy it!
This caller needs to ask his retirement planner if he can afford to buy it. What I heard is that the caller has $800k in his retirement account (which is probably too little for his age and income) and $400k in other accounts. While the equity in his house certainly counts toward his net worth, that amount is not readily accessible and only contributes to his retirement when he sells the home. He is essentially asking if he can take a large portion of his liquid nest egg and buy a depreciating, unnecessary toy. That could have a real impact on his cash flow in retirement. If he doesn’t want to sell his home when he retires and wants to maintain his present standard of living, he could be facing a serious shortfall even without purchasing the car. He needs a careful analysis that is beyond the scope of this phone call.
Meanwhile if the wife wants a renovation for 150k no one bats an eye. That Reno will only increase the house value 50k.
Well that might be a first: someone asking Dave what his question is 3:14
😂😭
Tables definitely turned at that moment lol
😂😂
A gt r he’s talking about will go up depending on mileage and condition. A 1996 r 34 is almost 200 to 300k to import and buy. Sam thing with the Toyota Supra. If you can find an old one they are 200 plus. This is a solid buy if your going to spend that amount on a car.
Hi Dave. My net worth is $10M. Is it ok if i order a side of guac at Chipotle?
No! Ramen noodles!
I would pay off the house for peace of mind. I felt a weight lifted when my student loan was paid off. That feeling is priceless.
If I was him I'd pay off my house as well.
I am worth $6 million and have no household debt. Yet, I drive a 2017 VW Jetta that I bought certified Preowned for $12,000 in 2019. My income last year was $490,000.
That means you simply don't enjoy cars. I have a fraction of your total worth, yet drive a $106,000 BMW.
I go to local cars & coffee events, mile-long drag races on closed airstrips, participate in car-related social media, modify and work on my vehicles, etc. Automobiles can be every bit as much of a hobby as music, film and photography, athletics, vacations, etc, and are completely worth the expense to the right person.
That’s cool but like the guy above me cars aren’t your thing; however I would bet money you have a different vice where you allocated funds to that logically doesn’t make sense.
@@WLJ1287 I go on fancy vacations with my family at least two times a year. I just love to save money on things. I think that is why I was able to save and invest so that my net worth is what it is. I am definitely a saver.
@@jamesl9539I wish I was like you… I have a Lambo, Escalade, Tesla and I’m about to trade the Tesla for an M8. Make about a million a year. I just love my damn cars lol
I was like you for a couple of decades... I'm worth about $10M and drove my Toyota for 15 years.. then last year decided to splurge 150k on a Porsche.. no buyers remorse.. should have done it sooner...
1.5M house, what’s the state property tax on that in Philly? When one retires (even if house is fully paid by then), really need a large nest egg to cover all these expenses, health insurance, car insurance, bills/utilities, helping kids education etc. Inflation just eats away on one’s savings.
$1.5m ain’t much of a house in the Bay Area.
@@jml9550 Yeah not a fan of living in the Bay Area. Plus it’s long overdue for a massive earthquake.
GOOD comment. Exactly
If you have to call a talk show to ask permission, you shouldn't buy it.
I love how most people in the comments believe the caller is actually telling a true story and actually having a need for Dave's advice. 😆
Successful people don't become that way overnight. What most people see at a glance- wealth, a great career, purpose-is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life and this new year shall get you closer to your goals and open more opportunities to you
Starting early is the best way of getting ahead to build wealth, in-vesting remains a priority.
Natural, there’s a lot of math involved in f o r e x tra ding,
Access to good information is what newbies needs to progress fin-nan-cially and I appreciate you for this
I still wonder how she get her analysis
No doubt Mrs Charlotte Hearne is very good, with $2000 and cashed out $8800 after a session with her
Not all cars go down in value and depreciation rates can be extremely low if you choose smartly. In 2009, I ordered and purchased a 2010 Porsche 911 GT3. With an out the door cost of $128k and putting down $29k it was a stretch for me to afford the high payment, but I had low debt and enough income to pay for it. I knew at that time that depreciation would be really low and due to the limited availability of the car, I could easily exit without a major loss. By 2015, this car had already started appreciating over the original sticker price and has substantially appreciated to over $200k today. There are lots of opportunities today where you could purchase with very low depreciation if you are willing to do the research and buy with your head instead of your emotional urges.
Ramsay is wrong. A 120k GTR (presumably R34) is going to go up in value or at the very least retain it. If they’re talking about R35 it has future classic potential so it would be a good investment too. Don’t be borin and live your life people
Yea when he said hard to find, my mind went to the R34. He’s not going to lose money on this.
I would pay off the house and finance the car. Why? Because if something happened and you lost all your money and you couldn't work because of a medical emergency, you could loose your house. On a car loan the worst that would happen is you loose your car. He would probably have a higher payment, and would loose a little more in interest, but owning your house outright is worth it IMO.
I am somewhat surprised they didn't say pay off the house, or at least ask what his payments are on the mortgage. I think for me to comfortably buy a car for that much at my age right now, I think I would have to be around $10 million. Of course I wouldn't be buying a car, I would be buying land.
I hear that. I love cars, I mean they are really cool. We go to the track every year for a weekend or more. They're awesome! But they're not cool enough for me to spend that much on them. I'd rather just enjoy my friend's cars and toys, then buy a chunk of land on a lake to call my own. Or maybe in the mountains. On that, I'm still undecided, but it is coming thanks to the Ramsey plan and hard work.
Here’s the thing your net worth is different than his and ratios are different. If your cars are less than 10%, your net worth in the ratios are correct.
No. Next question please.
If I bought a 130k car I would probably need to also factor in the cost of a divorce
This caller sounds exactly like the guy who called Dave “stupid and arrogant” for not prompting index funds and asked him a while back if he thought he was smarter than Warren Buffett
Index funds are superior though
Proof that lots of money and brains don't always go hand in hand.
How much you got smarty
oh yeah? because from the sound of it he's got plenty of brains, 180k combined in two of his kids 529's, 400 in liquid, bunch in retirement. 130k on a fun toy is a drop in the bucket for him. you sound jealous. sure he can drive his boring subaru until kingdom come, but he decided he wants to live a little, and good for him, he's done plenty for his kids future and his own.
He has a 3 million dollar net worth. 130k is a drop in the bucket. Relax
Typical comments dont respond
He lived like no one else so now he can LIVE like no one else.
There is a 2014 Track Edition GT-R for sale in NJ for $84k with low mileage. Why spend almost double to get 99% of same experience? Just look around and buy one when market drops.OR buy a brand new Porsche Cayman or 718 Boxster for $84K and that will satisfy your desire. I have my s2000 that I paid $14k for 12 years ago in the garage that doubled in value and satisfies my "toy" needs. I get it, I love Japanese sport cars the best, but there are many other choices out there for 1/2 price.
Don’t buy it. Go to a track for a weekend, spend $2K and save $128K 😂
a GTR wont go up, but it wont go down too much either. its not going to depreciate like a new loaded pickup or suv. id say go for it, you have cash...enjoy it!
“I’m a poor man but I have something a rich man will never have,” "Enough."
Eh not all rich people are misers
Amen
If anyone here is NOT a car guy, you will never understand. Also, this guy can more than afford the car 😂😂😂. I wouldn't pay cash though. Would have probably financed for a few years then sell or trade. I think those retain value.
I bet he is going to finance that car
The monthly payment on the car is certainly not a big deal but the liability created by the purchase kills a good Balance Sheet. Like he said, if you’ve got the cash pay it otherwise it’s not a good decision.
Cars are man's second Achilles heal... I'm sure everyone knows the first.
🐈
And the first drops in value much quicker
booze right? 😂
@@seanmurphy3753 Power tools.
Bought my GTR this year. Bought a 2013 instead of a newer one just due to not much has changed since 2013. Got one for $70k and just as fun as a newer $130k one
One of the only late model exceptions I’ve seen is the 4th gen Toyota Supra. If you bought a decent one for $60-$80k 15-20 yrs ago, they are worth 4-5x that today if in good shape
Not all cars lose value. Most do, but buy the right one will go up.
At 130k there's quite a few cars you can buy that go up in value.
Why is there an expectation that people should not buy an expensive car because it depreciates in value?… you aren’t buying it as an investment unless it’s an antique etc.
he should honestly do it! he deserves it after working so hard his whole life. once I heard gtr I knew he was a car enthusiasts! ❤😢
He's going to regret that car when the hospital bills start rolling in...
Bro needs to pay off his house
If he is a car enthusiast, then pay it with cash only after having the baby steps in place.
Pay off your house first, then car!!
He should honestly pay off the house. GTRs are NOT that special. A paid off million dollar house is.
If you have to ask a radio host if you can afford a car , you probably can’t afford the car
Take 100k of the 130 and put it towards the mortgage, pay it down! Then take 30k and go on a family vacation every year for the next 5 years, family time is way more important than one car.
The GTR is an outdated car that is not worth what they currently sell for. It is basically a 2009 car still sold new. They are hard to find because no one buys them so dealers don’t want them on their lots. Buy something half the price that is twice the car.
I'm surprised Dave said to buy this car. He needs to pay off his house. And $14K a month is pretty easy to calculate to $168K a year which is not $200K
He said net though. So probably around 220k gross pay yearly so yeah
amazing that this level of intelligence makes 200k a year
130 k on a Nissan? No thanks.
Probably an R34
@@SpartanHighKing14100%, a new GTR is not “hard to come by” as quoted by him in the call.
These are high demand cars that go back to the 1990s, I see why the caller asked Dave for advice. GT-Rs don't plummet in value he'll use it as a everyday driver
@ only if it a newer Nismo model. Base GT R are readily available.
Why not pay off the house and drop that interest payment? Then a year or so later he would have that money saved back up to buy it in cash. Paid off toy and paid off house, that’s the dream.
He’s just calling in to brag.
Dave always has a soft spot for car pickups ^
I'm in interested how he grew the 800K retirement. Dave usually asks about job. Great convo to watch
$800k with his income isn’t that hard depending on his age. If he’s 35 that’s very impressive, but if he’s 50 that’s actually less than I’d expect.
@@cody5596 200k is their combined income, it's not as much as you think.
@@cody5596 Based on the contribution limits to 401k, it can be tough to grow it very fast. It's gone up every year and currently it's like $23k/year so if you figure he's maxing it out and getting an average of 8-9% return for 20 years, $800k is about right. He's also been investing in two 529 plans and his own taxable brokerage account. With that current income, I'm guessing he's around 50 but what's truly impressive is having like $1.3M equity in his house.
I paid $87.5k for my 2010 Porsche GT3 in 2020. It’s worth at least $150k now. Some of these low mile examples are selling for over $200k.
This guy is worth over $1.4 million!!! I don't think buying this car will hurt him.
10% of his net worth in a car? Forget about it. Get an awesome 50k car.
A lot of us are struggling right now. We are suffering and most of us do not know where our next meal is coming from. This guy having $1.4 million (assuming he is being truthful) is an incredible amount of wealth, he is the kind of person capable of buying something like that car.
He is not guaranteed to have that source of income next month. People need to save as if they will lose their jobs at any moment.
@@randymillhouse791 But what kind of life is it to live in fear like that all the time? Driving in a used Honda is not a proper way to live your whole life. He wants a car that tells the world he is a somebody, that he has made it.
@@costco_pizza then a therapist would be a much better investment.
And then there's me, a normal European guy, that questions about buying a 40k car to replace his 17 years old Fiat, having a net worth and income much higher than his..I'd never spend 130k in a car...1 year after the excitement is already gone!
When I read the title, my immediate thought was “My God! Who can?” 😂 They better count their blessings if they’re even asking this
Pay off the house, go lease a Porsche. It's like the GTR but doesn't have an interior design from 2007