Depreciation is immaterial to these considerations. Your car will depreciate exactly the same whether you buy it in cash or finance it. All that matters is the interest rate on the loan vs expected return on the investment.
Poor person mentality. If you can invest the money and be making more money off the money you would have paid for the car outright by having it on the market you are paying off your car while making money off the money that the car costs.
@shawnpitman876 you're completely missing the point of what I've commented. I'm making a technical point about finance. I have a net worth of almost $500k lol
Buy a 2nd hand car which has lost most of it depreciation already. Buy it in cash outright so you don't have to pay more in interest. Save up and then start investing in things that provide a return and not hoping it increases in value.
Yeah, for real. He said 250k miles and I wasn't surprised at all. I mean idk about this guy specifically but lots of people live out of those vans. Like you said, if the van is treated well, those things are made to last.
Nah those are awful even with general maintenance. Check out Cam Casey. He has one and is always repairing it. It breaks down for him on the middle of the road and always has the weirdest issues. Like broken seats and broken seat belts
That's Hans Kim, he will be a multi millionaire in one fiscal year, joe rogan pays him big money to do coliseum and Tony Hingcliff also pays him big! Plus he tours alone.
See that's the way you teach somebody. You told him how he could do it and why it is a good option, but then explained why it is not a good option for him specifically. Most the time teachers of any form will teach generally. But you actually take the person you are talking to into account and adjust the information for that. I respect that
@@emraefare teaches incapable of talking with their students before or after class and having 1 on 1 discussions to better understand their students learning needs? Pretty sure that’s not impossible bud, most teachers don’t care enough about there students to do so
And when the teacher is lying, or stupid, like in this case? The interest on a loan is compounded interest, so 3%, isn't the same 3" that you might make from an investment. You'll pay a much more money borrowing money than you can make in an investment unless .... you take a very risky investment, and then you will more than likely loose money instead of making it big, not you are out the lost money from the investment that didn't work out, and lose the car cause you can't make the payments. Invest first, now you've made your money, buy your car, don't pay anyone interest, that's how you do it.
Tip: Today's dealerships sell loans not cars. Cars sell themselves. They just want you to choose one so that they can get you to finance. DO NOT let the salesman know you are paying full in cash. That's because the salesman will know they aren't getting a finance deal out of it. The salesman will no longer want to sell to you at a better price since they won't be making up the loss in profit through financing. • Know exactly which car you want to buy • Find the average current going market price for it • Negotiate pricing only with the salesman •Be prepared to walk away if the price isn't right. You can ALWAYS find the car at another dealership at a better price especially if you know the going market value. • DO NOT tell the salesman how you will be paying. Leave that until you get to the guy in charge of finance.
I’ve worked in the car industry for a while and that’s not true the sales man makes nothing off the finance he makes money off selling the car. Every Dealer is different but it’s silly gross profit percentage. A lot of people think it’s alot but it’s not. At Honda most gross would be aorund 3k and the sales man got 25 percent and that was rare usually it would be like 1000 and that was 250. Even Finance managers don’t make that much it’s a percentage and I was a genius e finance guy so I never made alot cause I always helped my clients and that’s why they loved me. But remember that at the end of the day it’s a job they are trying to feed their families as well. Be fair and go to a good dealership that treats people with respect. There are a few. Most decent sales man will also never try and rip you off as they want a repeat customer that will always come back to them.
@@usarmy100000000I worked at Nissan in South America a long time ago, it has always been commission per unit sold, not finance. Maybe a bonus if you get them to lease. I got a used car recently but need to get a new one and I’ve heard nothing but horrible things about dealerships here, I’m dreading it.
@@fjax25yep exactly and let me know when you go if it’s in North America I can definitely help. But mainly you have to be confident do your research see what the market is like especially prices on the vehicle are liking at based on conditions. Also see what is the best interest rate from the bank for your credit level. I also implore you to look into warranty and tire and wheel packages. Last week I hit a bad pothole both left side tires went flat and tire and rim changed then for free. I paid 995 for 3 years unlimited miles cause it’s a lease and then when I buy it out I’m going to buy another one. I literally almost made my money back from those two tires alone plus labor and stuff. But let me know if you need any help more then happy to help
He’ll only accept people borrowing money for two things: buying a house and clearing IRS debt. On the latter, I’ve even heard him suggest paying the IRS with a credit card if that’s the fastest way to clear that
Yeah, what the heck was that editing about? I guess people who know would see ironic humor in it, but to the uninitiated, it looks like this short is attributing a "get a loan" (for a car of all things) mindset to Dave and that is the furthest thing from the truth.
@@nicholasselke5214That's stupid. You don't mess around with the IRS, but at least try to negotiate a payment plan before you resort to a high interest credit card. Unless you can get approved for a 0% APR and pay it off in that time.
you people are tripping... loans are always an option as long as it's well planned. His mindset is that it should be avoided, not that it should NEVER be done.
This right here!! Sooo many finance guru’s comment on Ramsey and Caleb’s videos saying they don’t know what they are doing and there’s better ways to get out of debt blah blah blah…. But in reality, not everyone knows how, or would even be capable of doing the situation he’s describing. The best financial plan, is the plan that you can realistically achieve yourself
Yeah, I got a loan for an e46 M3 in 2018 and got 3.6%. Last year I got one for an e30 at the same credit union and it’s 6.2% now, also yeah it’s a 40 year old car and I needed a loan 😂
I took a loan out on my car (~2%) and did exactly that. I made over 3x in the market, and built my credit... Treat debt like a gun. If used right, it can be extremely useful, but if you don't know what you're doing, it can very easily shoot you in the foot
@@notpublic8961 Ok cool. Your mom could've given birth to a Nobel laureate. Neither of those happened, so what's your point? Did I take a risk, yes. It's how everyone wealthy makes money. Do you think banks just sit on your money and hold it for you? Investing is how you beat inflation and make your money work for you. There's a difference between using debt intelligently and being a moron who kills themselves with it. My stock portfolio has quadrupled since then, and I have completely paid off my car. Maybe you should stop complaining on the internet and learn how to be successful in the real world
0% apr for 60 months, 1.9% for 72, and 3.9% for 84 at Ford for new stock 2023 leftovers. For the most part you are right but deals are definitely still out there.
yeah it’s pretty fucked right now. i have 775 credit score and my interest rate on my car loan is 7.02% APR for 72 months (54 months remaining). planned on refinancing once i got a more solid credit (didn’t really have any weight attached to my credit score when i got the car at 18) but the best refinance option is like a .08% difference for the same term length, so i’m just not even going to go through the trouble. thanks to joe biden and the federal reserve :D
I'm sure this guys said he was earning 10k a weekend, so if he wants a decent car, just save for a few month and buy it cash. A good income removes all financial headaches
@@Justnothankyou132 he's a lesser known comedian. Doubt he's working every weekend and doubt every weekend brings in the same. Taxes probably eat up a bunch also, and he hasn't been popular for long.
I have an 820 credit score and make pretty significant money and the best rate I could get for my new car was 7.5%. I've never paid more than 2% before that. Shit is crazy
Thank you!…I’m the same. The car I have now was 4% when I financed (back in 2016)…Now a days I’m looking more at like 6%-7% Some used car salesman was trying to tell me that I’m full of crap when I was venting about APRs on cars going up.
We run the 2.1 4 cylinder cdi sprinters. Good for at least 400k miles. Got a couple of FWD VW transporters with 350k miles+ A vans only as good as its maintenance but if you buy a Mercedes you buy right
0% apr for 60 months, 1.9% for 72, and 3.9% for 84 at Ford for new stock 2023 leftovers. For the most part you are right but deals are definitely still out there.
Screw buying a newer car. I just got a 1999 vw jetta, manual windows and locks, bare bones base model for $1800 cash. 160k miles. Parts are readily available for it and cheap. All i needed was tires, a CV axle and an o ring on the oil cooler to stop an oil leak. It helps i am a mechanic by trade but anyone can fix these things thanks to youtube. This car gets me 30mpg and keeps me from having to drive my chevy diesel pickup everywhere
What you said to do with the car, not paying it all, and using the potential equity as investment to make a better percent is how my dad paid off every house he owned with a strategy like that,
Got any wealthy friends or family? Ask how many of them got that way by taking out a loan on their car and investing that money. And then ponder why the answer is 'none'
Dude has literally over $200k dispersed between 3 bank accounts $20k is literally only 10% of his wealth him buying a car is the equivalent of most Americans buying groceries
@@maldenfosterpeople like to conflate other peoples lifestyles with there own. Its like when people complain about million/billionaire’s spending a couple thousand on a bag/trip when purchasing that bag/trip is like us purchasing a coffee on payday. 20k to a man that makes like 200k after taxes and has wealthy parents and assets over seas is nothing.
@@Ricciroc also ngl you look like the type of dude you meet at a park and share a blunt with then become best friends idk something about you screams chill asf
Cant tell you how true this is! First car was a fucked 12% but had to build credit somehow. Traded it quickly after 2 years and even with some negative equity... I scored a 1% loan and the car is already worth more than I owe. Crazy valuable info!
@lelamaciolek1166 2020 sentra. I also work from home so it has like 30k miles which is lower than average. Have like 7k left on the loan. I bought at a good time though considering 1% loans aren't a thing anymore.
It’s a bad market right now for vehicles. I bought my truck brand new (10 total miles) and got a 0% rate for 72 months. That same deal today is unheard of, but I saw Chevy does offer a 0.9% for 1500 Silverados lately. 7.24 is a bad rate, especially on a new vehicle.
If you finance through the company you buy the car from you can usually get a better rate. Like using Ford Credit to buy a Ford. But even still, rates suck right now. I got 6% with an 805 credit score. Just waiting to refinance it lower once rates drop. Maybe next year...
Never use a dealer financing program, always use your own bank or credit union, they will always give a better rate. Car dealerships make all their money off of in-house financing. Never tell a salesman that you'll pay in cash, they'll probably be less likely to budge on the price because they're expecting to make it on the back end of the deal, through finance. It's a complete 180 from what it use to be because they cannot advoid paying taxes due to a cash payment anymore.
Yeah dawg, not even close to true. A lot of manufacturers are down below 1% again for financing options and the average from a bank or CU across the US right now is ~4% for the same terms. I got a 1.9% on a 36 month and my CU was offering a 4.9% at the very closest and just recently dropped to 3.9%.
Most people shouldn't do this if they don't have money in the market already anyway because they might not be disciplined to not "borrow" from it, then they end up getting hit with short-term capital gain taxes and all of the sudden they're behind... This is assuming they put their money in a good place, oh and if it's in the market you might not be able to take that money out when the car would have been paid off... you also have to be disciplined enough to keep it in there far beyond the life of the auto loan if the market is down, it's just not a good idea in real life even though the math is right
You don't take the money out of the market. You decrease your monthly investment amount by the monthly payment during the term of the loan. Then increase to your normal investment amount when loan is paid off.
"It will beat that 3% PLUS DEPRECIATION"? Man, I'm not so sure about the depreciation part. A common rule of thumb says cars lose 10% every year, so add the 3% to it and it's not so obvious that you can get better returns every single year.
Dang got me a little 10th gen civic in 2019 w like 50k miles for 10k that mf got like 150k now still rolling smooth af never left me on the road nor has it been in the shop besides maintenance and minor details. Took me from nyc to miami, that car a true soldier lmao
@@jamestreveil4866just pulled one into the shop at 475,000 and replaced some suspension and changed the plugs and coils, minor services. It was in pretty great condition for that high of mileage
Man looks like he took an edible before the interview 😅 I haven't seem the video, but if it's paid off, those sprinter van engines are known to be super solid
Had 50k saved up, bought a $3,800 Infiniti 2007 g35 with 150,000 miles on it and used the rest to invest in index funds and emergency funds. Doing that saved me from so much unexpected life events and expenses the last two years.
@@ConsciousWithConner right. Homes are better. As a salesperson I watched an owner of Accounting Firm with 800+ score get 5% and had to explain to him why it was normal. I felt horrible.
Some dealers do 0% financing on cars they want to get rid of. Also check with your local credit union when taking a loan for a used car. I've gotten sub 1% financing for a used car loan back when rates weren't insane.
Coming from someone who worked at a salesman in a car dealership, do not go with their banks go with your own bank. If you can look at personal loans to and see what rates your bank offers “if you have this you don’t need full coverage since no “”auto loan”” “ if you have any kind of talking and standing on business skills you’ll get way better prices
Glad to hear that about interest rates on cars. Mine is all paid off now but with the dealership I was at, and my mom cosigning with me, I got a 1.9% interest rate in September 2019 and by June of 2024 it was all paid off. I also got a car within my means so there’s that lol
My best car purchase was an 05 Subaru Forester. I paid $1200 and I drove it 60k miles before it blew up. Then i sold it for $250 to a scrapper. Excluding oil brakes and tires, I spent about one and a half pennies per mile
For you, use it to take your gig work like I usually do. My payments are between 400 and 600 dollars a month and I pull in 4500 to 7 grand a month. I don't care about the payment and then it's usually fully insured and there's gap in the loan. In case something happens now. Unfortunately I didn't double check the pay port. That's why I'm saving up money for another car. My last two cars I did this with was a 2012 Jeep Liberty and a 2014 Mazda 3
Always go to the bank or credit union and get a pre approved loan before setting foot in a dealership. The finance guy in the dealership is the guy that’s going to cost you the most, not the sales guy. By having a loan already, you have the power to negotiate.
as long as you keep up with basic maintenance that sprinter will probably make at least another 50k miles. ive worked as an emt most of our fleet was retired over the 300k point and we spend all day in the trucks with them idling so they get ran harder than what your average person using them for commuting will do
Buying car with cash: I bought my first car with an 11% interest loan, back in the day. It was a 4 year loan that I paid off in 2 years. I immediately started saving for my next car, although I planned on owning that car 10 years. When i was 5 years from my next new car, I moved money to CDs. It was around 5% at that time. So, interest worked for me, not against me.
We’re talking about it a diesel engine 250k is like 50k on a gas engine. Modern turbo diesels can go for about 500-600k miles but the older pre emissions ones can easily do a million miles.
I purchased five cars from Nissan. I financed them all through Nissan, and never paid a cent in interest. Just save up enough to buy the car outright in cash, put the money in an interest bearing savings account, do the first time buyer interest free loan through Nissan, then take your payments from the savings account. You don't make a ton of money because you slowly eat up your principle, but it's better than paying for someone else to make more than that interest on a car loan.
Dude is living life in SLOOOOW MOOOO
Shit I guess I’m worse I’m not making 300k a year lol
Well he's a funny guy and could make it as a comedian if he keeps his skill in check
@@CrippledAutistalso has a golden parachute , so realistically he’ll never have financial issues his entire life if that’s the case
knowing you have a pile of money at the end of the rainbow makes it much easier to just do your own thing
My IQ is 132 but I don’t feel pressured to act intelligent either. If I need to think I will but I don’t need to impress ppl all the time.
Most random place to see Hans Kim ✅
Surprised he didn’t start making racist jokes lol
I knew it I recognized him so hard but I couldn’t remember where and it’s from kill Tony even though imo he’s ass.. lol
I KNIW RIGHT
I'm honestly SHOCKED to see Hans Kim here, I thought he was here to mess with the channel!
Yo I was over here losing it like “is this actually Hans Kim!?”
KT for life buddy
Its so refreshing to see someone willing to learn instead of being defensive
dorohedoro is peak btw
Depreciation is immaterial to these considerations. Your car will depreciate exactly the same whether you buy it in cash or finance it. All that matters is the interest rate on the loan vs expected return on the investment.
Poor person mentality. If you can invest the money and be making more money off the money you would have paid for the car outright by having it on the market you are paying off your car while making money off the money that the car costs.
@shawnpitman876 you're completely missing the point of what I've commented. I'm making a technical point about finance. I have a net worth of almost $500k lol
Buy a 2nd hand car which has lost most of it depreciation already. Buy it in cash outright so you don't have to pay more in interest. Save up and then start investing in things that provide a return and not hoping it increases in value.
@@Hunty49 again, totally irrelevant to the point I was making...
I put 419k miles on my last van and it still ran excellent. I gifted it to a friend. He still drives it to this day.
Maybe he should fix his taxes and see how much money he has left BEFORE he buys a newer vehicle
Dude is a millionaire…. He’ll be alright, even after taxes. especially since he doesn’t seem to care about any form of luxury whatsoever.
@@deathroith4678he said he makes upto like 10-20k for a single weekend, he’d be fine even if he restarted with 0 dollars 😂
Maybe watch the whole episode.
He paid what someone making like 55k would pay lol. He will at least have good material after the IRS cleans out his pipes.
@deathroith4678 dood literally sed in the show he only just started makeing 250k soo he literally is not
250k is fine on a sprinter van though as long as general maintenance is kept up, it's diesel, it's barely broken in
Yeah, for real. He said 250k miles and I wasn't surprised at all. I mean idk about this guy specifically but lots of people live out of those vans. Like you said, if the van is treated well, those things are made to last.
Depends on the year the newer ones have constant issues with emissions systems
Nah those are awful even with general maintenance. Check out Cam Casey. He has one and is always repairing it. It breaks down for him on the middle of the road and always has the weirdest issues. Like broken seats and broken seat belts
@@booner1252”hey out of countless reliable examples of decent vans look at this one scenario where it’s a hunk of shit”
@@booner1252don’t forget broken seatbelts
Dude looks like he’s fighting a war with sinuses
LMFAO
He's got the suds or spuds
Better than any of his jokes
“Not yet” was one of his funniest jokes by far
That's Hans Kim, he will be a multi millionaire in one fiscal year, joe rogan pays him big money to do coliseum and Tony Hingcliff also pays him big! Plus he tours alone.
not ever hes not funny
@@victormendoza2145hating ass foos 😂😂😂
His comedy isn't funny. It's all hype by already successful people
@@MSDGAMEZ facts
2014 Sprinter van with 250,000 miles isn't even broke in yet those vans can easily go well over 500,000 miles before being retired.
See that's the way you teach somebody. You told him how he could do it and why it is a good option, but then explained why it is not a good option for him specifically. Most the time teachers of any form will teach generally. But you actually take the person you are talking to into account and adjust the information for that. I respect that
thats because it's a one-on-one conversation lmao
@@emraefare teaches incapable of talking with their students before or after class and having 1 on 1 discussions to better understand their students learning needs? Pretty sure that’s not impossible bud, most teachers don’t care enough about there students to do so
And when the teacher is lying, or stupid, like in this case? The interest on a loan is compounded interest, so 3%, isn't the same 3" that you might make from an investment. You'll pay a much more money borrowing money than you can make in an investment unless .... you take a very risky investment, and then you will more than likely loose money instead of making it big, not you are out the lost money from the investment that didn't work out, and lose the car cause you can't make the payments. Invest first, now you've made your money, buy your car, don't pay anyone interest, that's how you do it.
Also hans is very open to honest advice which helps. I hate him as a comedian but I can appreciate that as a value
It's almost like that's how this stuff works....
Tip: Today's dealerships sell loans not cars. Cars sell themselves. They just want you to choose one so that they can get you to finance. DO NOT let the salesman know you are paying full in cash. That's because the salesman will know they aren't getting a finance deal out of it. The salesman will no longer want to sell to you at a better price since they won't be making up the loss in profit through financing.
• Know exactly which car you want to buy
• Find the average current going market price for it
• Negotiate pricing only with the salesman
•Be prepared to walk away if the price isn't right. You can ALWAYS find the car at another dealership at a better price especially if you know the going market value.
• DO NOT tell the salesman how you will be paying. Leave that until you get to the guy in charge of finance.
Don’t sign what’s called a “4-square” (look it up). Only negotiate the “Out-the-door” taxes and fees all inclusive price.
I’ve worked in the car industry for a while and that’s not true the sales man makes nothing off the finance he makes money off selling the car. Every Dealer is different but it’s silly gross profit percentage. A lot of people think it’s alot but it’s not. At Honda most gross would be aorund 3k and the sales man got 25 percent and that was rare usually it would be like 1000 and that was 250.
Even Finance managers don’t make that much it’s a percentage and I was a genius e finance guy so I never made alot cause I always helped my clients and that’s why they loved me.
But remember that at the end of the day it’s a job they are trying to feed their families as well. Be fair and go to a good dealership that treats people with respect. There are a few. Most decent sales man will also never try and rip you off as they want a repeat customer that will always come back to them.
@@usarmy100000000I worked at Nissan in South America a long time ago, it has always been commission per unit sold, not finance. Maybe a bonus if you get them to lease. I got a used car recently but need to get a new one and I’ve heard nothing but horrible things about dealerships here, I’m dreading it.
@@fjax25yep exactly and let me know when you go if it’s in North America I can definitely help. But mainly you have to be confident do your research see what the market is like especially prices on the vehicle are liking at based on conditions. Also see what is the best interest rate from the bank for your credit level. I also implore you to look into warranty and tire and wheel packages. Last week I hit a bad pothole both left side tires went flat and tire and rim changed then for free. I paid 995 for 3 years unlimited miles cause it’s a lease and then when I buy it out I’m going to buy another one. I literally almost made my money back from those two tires alone plus labor and stuff. But let me know if you need any help more then happy to help
@@fjax25Yeah that's the "old" way, it's still done but in most Western countries its by loans.
I don't think 3% is going to happen in this market.But I 100% agree with you.
GM doing 1.9% on some vehicles
@@santosedinbonly on certain trucks
I got 0.9% on a Mazda
@@VirusZero0140that’s amazing, how much down did you put and where was the loan from? A credit union? I am looking to get a new one myself
I a lot of banks raised their interest rates, those who offered a 2%-3% are now at 6% ish.
This is Hans Kim, This is Hans Kim, This is Hans Kim, This is Hans Kim
Sprinter vans keep their value pretty good
Ramsey is the last person on earth to tell you to get a loan😂
He’ll only accept people borrowing money for two things: buying a house and clearing IRS debt. On the latter, I’ve even heard him suggest paying the IRS with a credit card if that’s the fastest way to clear that
Yeah, what the heck was that editing about? I guess people who know would see ironic humor in it, but to the uninitiated, it looks like this short is attributing a "get a loan" (for a car of all things) mindset to Dave and that is the furthest thing from the truth.
@@nicholasselke5214That's stupid. You don't mess around with the IRS, but at least try to negotiate a payment plan before you resort to a high interest credit card. Unless you can get approved for a 0% APR and pay it off in that time.
you people are tripping... loans are always an option as long as it's well planned. His mindset is that it should be avoided, not that it should NEVER be done.
Yeah I giggled when they showed Ramsey and said get a loan. Two ideas that don't go together.
This right here!! Sooo many finance guru’s comment on Ramsey and Caleb’s videos saying they don’t know what they are doing and there’s better ways to get out of debt blah blah blah…. But in reality, not everyone knows how, or would even be capable of doing the situation he’s describing. The best financial plan, is the plan that you can realistically achieve yourself
That's thinking like a liberal arts major.
If you want to be wealthy, you have to think like an engineer.
@ there’s still plenty of time to delete your dumb comment
As a business manager for a dealership, 3% is crazy. You’ll never get that unless you can go back in time and get a loan in 2018
You can get those rates but only on select cars when a dealership has special financing promotion
@@suttsd you also need to fit a VERY specific criteria. I mean like exact income, car model, postcode and living conditions. It’s not easy
2018? Were you in a coma for the 3 years following that?
Yeah, I got a loan for an e46 M3 in 2018 and got 3.6%. Last year I got one for an e30 at the same credit union and it’s 6.2% now, also yeah it’s a 40 year old car and I needed a loan 😂
@@Industry-insidere46 M3 is worth a loan any day 🤤
Honestly, I’m in the fleet maintenance space and 250,000 miles is nothing compared to others that I’ve seen
I took a loan out on my car (~2%) and did exactly that. I made over 3x in the market, and built my credit... Treat debt like a gun. If used right, it can be extremely useful, but if you don't know what you're doing, it can very easily shoot you in the foot
I own a gun to protect myself and my property, not to accumulate more money and possessions. Bad analogy
@@nicholasselke5214your gun isn’t going to protect you from shit mate
@@nicholasselke5214 You are far more likely to put that gun in your mouth than use it to protect you.
And if you did that in 2008, you would have lost all your money and would have a nice, big loan on your car to pay off.
@@notpublic8961 Ok cool. Your mom could've given birth to a Nobel laureate. Neither of those happened, so what's your point? Did I take a risk, yes. It's how everyone wealthy makes money. Do you think banks just sit on your money and hold it for you? Investing is how you beat inflation and make your money work for you. There's a difference between using debt intelligently and being a moron who kills themselves with it. My stock portfolio has quadrupled since then, and I have completely paid off my car. Maybe you should stop complaining on the internet and learn how to be successful in the real world
3% or less on car loan. Good luck. Dealers are offering 9% and banks 6.2% with immaculate credit.
I saw yesterday GM was offering a 0.9% on 1500 Silverados (with great credit) so it’s possible.
My thought too. I guess a very specific situation might get you sub 5 but most are 7+ right now.
0% apr for 60 months, 1.9% for 72, and 3.9% for 84 at Ford for new stock 2023 leftovers. For the most part you are right but deals are definitely still out there.
You can still beat 9 or 6.2% in the market
yeah it’s pretty fucked right now. i have 775 credit score and my interest rate on my car loan is 7.02% APR for 72 months (54 months remaining). planned on refinancing once i got a more solid credit (didn’t really have any weight attached to my credit score when i got the car at 18) but the best refinance option is like a .08% difference for the same term length, so i’m just not even going to go through the trouble. thanks to joe biden and the federal reserve :D
I'm sure this guys said he was earning 10k a weekend, so if he wants a decent car, just save for a few month and buy it cash. A good income removes all financial headaches
If I made 500k / year ever in my life I would have retired much younger than my mid 30s. How is this dude not a millionaire?
@@Justnothankyou132 he's a lesser known comedian. Doubt he's working every weekend and doubt every weekend brings in the same. Taxes probably eat up a bunch also, and he hasn't been popular for long.
@@themanplan987 He literally stated himself how many weeks and his earnings.
@themanplan987 yeah only anyone who listens to joe rogan knows him. Hes pretty much under ground lol
He also has a pretty severe drug habit@@Justnothankyou132
Bro what hans Kim? Best colab ever
I knew i knew him 😂😂😂😂
😂lol thought it was him
Said no one. Hans sucks.
@bobdeslob8768 said him. Still better than william who just swears loudly.
William "Ain't Never Gonna Stop Swearing Loudly!!"...😂
I have an 820 credit score and make pretty significant money and the best rate I could get for my new car was 7.5%. I've never paid more than 2% before that. Shit is crazy
Thank you!…I’m the same. The car I have now was 4% when I financed (back in 2016)…Now a days I’m looking more at like 6%-7%
Some used car salesman was trying to tell me that I’m full of crap when I was venting about APRs on cars going up.
Someone being honest with hans is just what i needed today
Those old i5 sprinters would run 500k but I think the ‘14 has that v6
We run the 2.1 4 cylinder cdi sprinters. Good for at least 400k miles.
Got a couple of FWD VW transporters with 350k miles+
A vans only as good as its maintenance but if you buy a Mercedes you buy right
Nothing wrong with a car with 250k my TDI Jetta from 2002 is breaking 460k
Same. Got a scion with 220k and a corolla with 401k😂
@@analogueoverdigital929 gotta manual 06 xb going on 247k myself 🤙🏼
My dads Camry has 341k on it, still drives it everyday@codyfournellcsrf5164
I'd ask Rick Diaz his opinion on this.
It would probably be funny
he needs to use this agains him in their battles
Rick has no debt
I was wondering who knew.
Rick Diaz drives Hans’ mom in a Toyota 4Runner to HEB for some Italian buns every day
No way a dealership or a bank would give a 3% loan these days.
0% apr for 60 months, 1.9% for 72, and 3.9% for 84 at Ford for new stock 2023 leftovers. For the most part you are right but deals are definitely still out there.
Yea buddy I got went to Brian Jessel bmw and got a new m340i for 2 percent
My mother just bought a new forester for 1.9% for 36 months
What about a secure loan?
@@pokketmyrocketyeah but then you have to own a ford
Screw buying a newer car. I just got a 1999 vw jetta, manual windows and locks, bare bones base model for $1800 cash. 160k miles. Parts are readily available for it and cheap. All i needed was tires, a CV axle and an o ring on the oil cooler to stop an oil leak. It helps i am a mechanic by trade but anyone can fix these things thanks to youtube.
This car gets me 30mpg and keeps me from having to drive my chevy diesel pickup everywhere
What you said to do with the car, not paying it all, and using the potential equity as investment to make a better percent is how my dad paid off every house he owned with a strategy like that,
Got any wealthy friends or family? Ask how many of them got that way by taking out a loan on their car and investing that money. And then ponder why the answer is 'none'
Buying a new car can be risky without proper financial planning. High interest rates can quickly add up over time.
Dude has literally over $200k dispersed between 3 bank accounts $20k is literally only 10% of his wealth him buying a car is the equivalent of most Americans buying groceries
@@maldenfosterpeople like to conflate other peoples lifestyles with there own. Its like when people complain about million/billionaire’s spending a couple thousand on a bag/trip when purchasing that bag/trip is like us purchasing a coffee on payday. 20k to a man that makes like 200k after taxes and has wealthy parents and assets over seas is nothing.
@@Ricciroc yup
@@Ricciroc also ngl you look like the type of dude you meet at a park and share a blunt with then become best friends idk something about you screams chill asf
@@maldenfoster thanks dude! That’s definitely me to a t. I always try to see things from other peoples perspectives and not just my own experiences
Cant tell you how true this is! First car was a fucked 12% but had to build credit somehow. Traded it quickly after 2 years and even with some negative equity... I scored a 1% loan and the car is already worth more than I owe. Crazy valuable info!
I wish I could see Caleb's response to this comment
Worth more than you owe? Very nice. How did that happen? What kind of car?
@lelamaciolek1166 2020 sentra. I also work from home so it has like 30k miles which is lower than average. Have like 7k left on the loan. I bought at a good time though considering 1% loans aren't a thing anymore.
Just got a new truck credit score of 730 with an interest rate of 7.24...not too knowledgeable about finances but 3% sounds pretty damn hard
It’s a bad market right now for vehicles. I bought my truck brand new (10 total miles) and got a 0% rate for 72 months. That same deal today is unheard of, but I saw Chevy does offer a 0.9% for 1500 Silverados lately. 7.24 is a bad rate, especially on a new vehicle.
It used to be super doable but with the current market 5-7 % seems like the norm for a lot of ppl
3% was possible before bidenomics
@@x-ray3443and thats with good credit.
If you finance through the company you buy the car from you can usually get a better rate. Like using Ford Credit to buy a Ford. But even still, rates suck right now.
I got 6% with an 805 credit score. Just waiting to refinance it lower once rates drop. Maybe next year...
Just remember, if you take financial advice from people on the internet, and you lose money, you have no one to blame but yourself.
Never use a dealer financing program, always use your own bank or credit union, they will always give a better rate. Car dealerships make all their money off of in-house financing. Never tell a salesman that you'll pay in cash, they'll probably be less likely to budge on the price because they're expecting to make it on the back end of the deal, through finance. It's a complete 180 from what it use to be because they cannot advoid paying taxes due to a cash payment anymore.
If there's a deal going on the dealer can be cheaper
I get what you're saying. I'm a little paranoid with them, too. I would say that's 60% false, though.
Yeah dawg, not even close to true. A lot of manufacturers are down below 1% again for financing options and the average from a bank or CU across the US right now is ~4% for the same terms. I got a 1.9% on a 36 month and my CU was offering a 4.9% at the very closest and just recently dropped to 3.9%.
You have to be able to read the fine print and figure out which one is cheaper. It's not always the bank/credit union. Not by a long shot.
This is Han Kim 🎶🎶
This is Han Kim 🎶🎶
This is Han Kim 🎶🎶
Oh…my …god… He’s done it again ladies and gentlemen!
😂😂😂😂😂
I am the master of buying $1,200 shitboxes and fixing them up 😅.
Lexus bro. Almost everything they make is good
I spent my late teens just buying shitboxes and cleaning them then selling them on for a small profit.
It's because it toyota 😂
They’re Toyota, the best most reliable car brand there is, Hondas are good too. The rest are either decent or worse
95 Honda accord w/120k for $1500 been driving it for a year and love it
@@yodamaster757Suzuki is on par with toyota. Build quality and simplicity but not luxury.
Most people shouldn't do this if they don't have money in the market already anyway because they might not be disciplined to not "borrow" from it, then they end up getting hit with short-term capital gain taxes and all of the sudden they're behind... This is assuming they put their money in a good place, oh and if it's in the market you might not be able to take that money out when the car would have been paid off... you also have to be disciplined enough to keep it in there far beyond the life of the auto loan if the market is down, it's just not a good idea in real life even though the math is right
You don't take the money out of the market. You decrease your monthly investment amount by the monthly payment during the term of the loan. Then increase to your normal investment amount when loan is paid off.
@@RubRDukY-i4g I literally started my comment "if they don't have money in the market already" pay attention
This young man is a success all ready …
There is no way the market is going to beat car depreciation unless you invested in tesla 10 years ago.
Hanskim!! Lol episodes gottta be funny af
He’s not funny at all
@@FunnyPositiveLife who asked u?
Called my mom earlier today and now im attracted to guys all of a sudden.
Boy if you don't...
😂
finding this reference out of context was funnier than anything hans kim has ever said lmao
To be fair... an hour on the phone with my mother would also make me question whether the grass is greener on the other side
"It will beat that 3% PLUS DEPRECIATION"?
Man, I'm not so sure about the depreciation part. A common rule of thumb says cars lose 10% every year, so add the 3% to it and it's not so obvious that you can get better returns every single year.
Some cars depreciate faster than that.
Guy could cure insomnia on his own
Dang got me a little 10th gen civic in 2019 w like 50k miles for 10k that mf got like 150k now still rolling smooth af never left me on the road nor has it been in the shop besides maintenance and minor details. Took me from nyc to miami, that car a true soldier lmao
250k isn't bad for those vans.
Yeahh I've seen them with 400k on the clock and still going strong
@@jamestreveil4866just pulled one into the shop at 475,000 and replaced some suspension and changed the plugs and coils, minor services. It was in pretty great condition for that high of mileage
250k isn't bad for any cad
@@codyfournellcsrf5164unless it’s a Nissan, those things are junk the moment they hit 100k.
If its a diesel and the fuel injectors are already replaced its good to go to 400k
If I was him I'd live in that thing!!!
He does lmao..
@@Seth.Shreds then it's understandable
I like how this guy has lots of money and an old van, and yet other guest insist that they NEED a brand new car 😂
2000 Mercedes e320 with over 364000 miles and still going strong
250k isnt horrible, I have a sprinter with ~190k on it and the only thing we ever had to replace were the break-pads that overheated.
Fuckin Hans Kim?!
I'm shocked
Haha I had the same reaction
This is Hans Kim
Man looks like he took an edible before the interview 😅 I haven't seem the video, but if it's paid off, those sprinter van engines are known to be super solid
He's just asian.
That's just his Asian eyes.. he's a frequent up coming comedian on kill Tony
This guy is basically a Xanax bar that learned how to talk 😂 you can see Caleb looking at him at certain points like “bruh are you good??”
I need this man in my life right now....
This is the first guy that's got his stuff together!!!
This is Hans Kim.. this is Hans Kim🎵🎶
Yea I thought so
This scenario is very much on point.
Had 50k saved up, bought a $3,800 Infiniti 2007 g35 with 150,000 miles on it and used the rest to invest in index funds and emergency funds. Doing that saved me from so much unexpected life events and expenses the last two years.
In 2017 I paid the same but it had 173 on it. Still runs at 230, sold it to my brother. 07 G35X
Wait...is this a positive episode? I like this flow. The calmer is a refreshing change!
Commercial vehicles are built tougher than private vehicles. A sprinter van is made to drive across the country.
Not a fucking chance you're getting a 3% auto loan right now. I don't know what planet this dude is living on.
You a smart guy, take care of your health too not only your finances
You forgot tax on that market profit, and the car depreciation/interest is not deductable.
Yeahhh.. because i have $10,000 in cash just sitting around.. if i did i wouldn't have money problems 😂
tbh, I loved his "not yet" 🤣 love to see he still believes in himself, that he will became the one once💪
I love that everyone loves Theo
There’s no dealership that finances vehicles in house for a 3% interest rate. The bare minimum is 5% with ideal credit and that was before 2020.
I got away with 2.5% for my house 3 years ago….it was a fluke of a summer and I’m so grateful for it!
Sometimes you can catch pockets in the market BUT you are so right overall right now
@@ConsciousWithConner right. Homes are better. As a salesperson I watched an owner of Accounting Firm with 800+ score get 5% and had to explain to him why it was normal. I felt horrible.
Some dealers do 0% financing on cars they want to get rid of. Also check with your local credit union when taking a loan for a used car. I've gotten sub 1% financing for a used car loan back when rates weren't insane.
the more you use a diesel the better it gets. Its an appreciating asset
Caleb definitely became this mans finance manager 😂
Coming from someone who worked at a salesman in a car dealership, do not go with their banks go with your own bank. If you can look at personal loans to and see what rates your bank offers “if you have this you don’t need full coverage since no “”auto loan”” “ if you have any kind of talking and standing on business skills you’ll get way better prices
Glad to hear that about interest rates on cars. Mine is all paid off now but with the dealership I was at, and my mom cosigning with me, I got a 1.9% interest rate in September 2019 and by June of 2024 it was all paid off. I also got a car within my means so there’s that lol
My best car purchase was an 05 Subaru Forester. I paid $1200 and I drove it 60k miles before it blew up. Then i sold it for $250 to a scrapper. Excluding oil brakes and tires, I spent about one and a half pennies per mile
WOW! An interview where he is actually nice and pleasant to his guests. Who would have thought?
I wanna go on this show.
Seeing Hans is crazy. I would love to Kam on with his new grill 😂
For you, use it to take your gig work like I usually do. My payments are between 400 and 600 dollars a month and I pull in 4500 to 7 grand a month. I don't care about the payment and then it's usually fully insured and there's gap in the loan. In case something happens now. Unfortunately I didn't double check the pay port. That's why I'm saving up money for another car. My last two cars I did this with was a 2012 Jeep Liberty and a 2014 Mazda 3
Bot much
hahaha Hanz keeps showing up everywhere man good shit! Love seeing the blowup after the Hustle!
The markets shifting and depreciation is accelerating. So finessing is not on anyones side right now unless they have a rare gem
Hans Kim is the man!
I think Caleb needs a car lesson. That sprinter van is awesome.
There’s a joke here with a white dude explaining math to a high Asian dude. It’s somewhere it just can’t find it
Always go to the bank or credit union and get a pre approved loan before setting foot in a dealership. The finance guy in the dealership is the guy that’s going to cost you the most, not the sales guy. By having a loan already, you have the power to negotiate.
My mom got her car at 1% in Mission Viejo. The same exact car was at 10% in Victorville and she has a 850 credit score.
as long as you keep up with basic maintenance that sprinter will probably make at least another 50k miles. ive worked as an emt most of our fleet was retired over the 300k point and we spend all day in the trucks with them idling so they get ran harder than what your average person using them for commuting will do
This is Hans Kim. This is Hans Kim. This is Hans Kim. This is Hans Kim!🎉🎉🎉
Yes, the fed rate is high, so you won't be getting
Hans Kim! I can't wait to watch the full video when I get home
Hans Kim! Absolutely.
Hans Kim is so good.
Buying car with cash: I bought my first car with an 11% interest loan, back in the day. It was a 4 year loan that I paid off in 2 years.
I immediately started saving for my next car, although I planned on owning that car 10 years. When i was 5 years from my next new car, I moved money to CDs. It was around 5% at that time. So, interest worked for me, not against me.
Bro high asl listening to this
Hans Kim!!!!! Love you bud!!!!
0% apr for first 12 months gives you a ton of flexibility to finesse, but its getting harder to find deals that are that long.
We’re talking about it a diesel engine 250k is like 50k on a gas engine. Modern turbo diesels can go for about 500-600k miles but the older pre emissions ones can easily do a million miles.
Hans Kim is a legend
Showing Ramsey when he says "get a loan" is wild!!!
Took dude 3 seconds to say "OoooooOooh sheeeeittt." 😂
I purchased five cars from Nissan. I financed them all through Nissan, and never paid a cent in interest. Just save up enough to buy the car outright in cash, put the money in an interest bearing savings account, do the first time buyer interest free loan through Nissan, then take your payments from the savings account. You don't make a ton of money because you slowly eat up your principle, but it's better than paying for someone else to make more than that interest on a car loan.
Bro that's a comedian he's got money