They Did 4 Dumb Things and Now Have a $900/month Payment
HTML-код
- Опубликовано: 29 апр 2024
- 💵 Plan your monthly spending for free with EveryDollar- ter.li/vkumyr
📞 Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET or send us a message - www.ramseysolutions.com/shows...
🏦 Take Your 3-Minute Money Assessment - ter.li/fi5xhh
Explore More Shows from Ramsey Network:
🎙️ The Ramsey Show ⮕ ter.li/rqwdws
🍸 Smart Money Happy Hour ⮕ ter.li/tmj3vq
🧠 The Dr. John Delony Show ⮕ ter.li/s5yazz
💰 George Kamel ⮕ ter.li/dc2gee
💡 The Rachel Cruze Show ⮕ ter.li/a6emrr
💼 The Ken Coleman Show - Highlights ⮕ ter.li/v8n4u8
📈EntrLeadership ⮕ ter.li/g7s9g0
Ramsey Solutions Privacy Policy
www.ramseysolutions.com/compa...
Cars have always been the #1 thing that keep people poor. EVs have taken this to a whole new level!
But not because they are EVs, but because they are the next shiny new thing. 😅
@@felixfruhauf4940 for sure! 🤩 But they also have stepped up the depreciation problem.
Dave you gotta chill with the “honey” 😂😂😂😂
😂😂
Dang i make 200k and drive a 13k accord. Guess thats why Im not a caller😅
Most rich people stay rich by spending like the poor and investing without stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them
People prefer to spend money on liabilities, Rather than investing in assets and be very profitable
You are so correct! Save, invest and spend for necessities and a few small luxuries relatives to one's total assets ratio.
Thank you Angela Christine Derle for $60,000👍🏻. There are so many opportunities to make money here on RUclips but most people don’t know. Thank you for continuing updates I'm favoured, $60,000 every two weeks ! I can now give back to the locals in my community and also support God's work and the church. God bless America🇺🇲
Hello how do you make such monthly ?? I'm a born Christian and sometimes I feel so down 🤦 of myself because of low finance but I still believe in God.
Thanks to my co-worker (Alex) who suggested Ms Angela Christine Derle
Did I hear that right? Did Dave call that guy honey?
That's what it sounded like but since the guy's name is Henry I hoped I just heard him wrong.
I bet he paid for the maintenance plan and oil change for life.
Oil change 😂😂
He got the extended warranty that Tesla sell for two years max at $6000. Unlike ford or Toyota which goes up to 8 years/ 120,000 miles
I told my son the best way to get out of debt is to not get into debt. (if possible) He has enough saved to buy a new car. We asked if he would be happy with our 2018 he's been driving for school or did he want to buy a new car. He was happy with the 2018. That made dad feel good.
Get rid of this mess, and never do this again
26K private party is a hard sell no matter what you got
I’ve considered a Tesla, pay cash, no way I’m buying a used one when new is so cheap.
Successful people don't become that way overnight. What most people see as wealth, a great career, purpose is the result of hard work 🤑🤑
Same, I met Mrs Maria Davis last
year for the first time at a conference in
Manchester, after then my family
changed for good. God bless Mrs Maria
So you guys know her too?...
Wow she made my husband and I have our own house and car.
She is good! 👌
Yes she works with people all over the world, she's the best you can ever come across.
美國 十 𝟭𝟮𝟲𝟬𝟲𝟴𝟳𝟮𝟮𝟲𝟭👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻❤️❤️ 十
大家大家大家大家大家大家大家大家大家大家 copie desta forma O RUclips é frustrante
Tell her I referred you 🙏🙏
I genuinly dont understand how people get into these situations. Like you know you cant afford that payment. If you really want a Tesla get a lightly used one, they're way more reasonable than new.
I know someone with a $49,000 debt on an EV which can be sold for $18,000. His payment is $865 month.
Whoa baby.
The depreciation on those things is insane. I saw a guy the other day boasting that he'd purchased a low mile '22 model 3 for $20k. I feel sorry for whoever bought that car new.
Horrible!
“But it’s an investment! Think of the tax write-off.” The’re no hope for these folks.
it's almost like buying $15k "solar roof lease" for $149/month for 30 years ;)))
I have a 800k net worth and my car is worth 7k
Hate to tell Dave but ain’t nobody paying 25-26K for a model 3 with 65,000 miles on it private sale
Aint Nobody is an Oxymoron. If there ain't nobody... that means there is somebody 😅
Thats about what Tesla is selling them for on their site.
If it’s a performance variant or even an LR, he can get that if he’s patient. Sounds like he paid mid-high 50s for it.
Somebody will always buy something.
You can buy a brand new Tesla for that price after the tax credits 😂
The price cut on the new ones completely fucked everyone with the used ones. Sure Tesla is gonna make money in the short term but they completely lit on fire any brand loyalty they had with their customers
It sounds like a model Y, as of May 2nd 2024. You can buy a NEW RWD for $37,490 after tax credit.
Tesla’s are depreciating faster than normal cars because they are selling new ones cheaper each year.
That and who wants an out of warranty Tesla that will require 12k+ for a new battery.
Tesla have trashed their own market.
@@markg999 8 year, 120k miles transferrable warranty on the battery
@@mb00765 hey don’t come in here with facts. MAGA hate EVs no matter what.
@mb00765 I know that...we drive alot that wouldn't last us very long. And I never buy new. Would prefer a Toyota hybrid. .which I plan getting next purchase.
“But babe, I’m saving so much on gas money with my $900 dollar a month Tesla!”
It's just like people who buy solar panels for their home - $40,000 to save $200 a month on the electric bill...
@@DunsonDrums Oh man! And you notice how they always say, "my electric bill is now only $10 a month" and they make it seem like somehow, they are saving when all they did was shift that payment to the solar panel loan.
Some people have $1400 payments on a gas guzzling Chevy Tahoes
If he bought a comparable gas car he'd be paying $800/mo plus gas. Obviously it's cheaper to drive a POS, no one is debating that.
@@DunsonDrums Solar is cheaper than ever and electricity is more expensive than ever. I just did solar quotes and it saves money from day 1 in my location.
Get a Mini Cooper to drive at 34 mpg.
Girl car
The savings in fuel and maintenance should more than cover the $900 car payment. 🙄
Your app doesn’t work in my country - Portugal. Do you recommend an app that works in Europe?
I have nice cars. They're five and eight year-old VWs. Anyway, they're nice enough for me. I might specify two or three options differently, but not a different car.
Been there. Done it. Fun suffering journey back out of debt. Pure liberty! 🙂
All the pre owned Tesla's on CarMax lots...they can't give them away
dave calling men "honey" is crazy work lol
😂😂😂 I caught that too. Thought it was just me 💀
😂😆
That's the South.
@Fred2-123 lol no its not
Diabolical even
Ken looks like he ran through the rain to get to studio. 🌧
Just drive it
Should have kept the toyota should be their new slogan
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Stacey Macken.
Wow...I know her too she is a licensed broker and a FINRA agent she is popular in US and Canada she is really amazing woman with good skills and experience.
Stacey Macken's strategy has been instrumental in helping me navigate the past few months. Without it, I don't think I would have made it through
Stacey demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
I remember giving her my first savings $20000 and she opened a brokerage account for me it turned out to be the best thing that ever happened to me.
Yes I can believed that, I got victory with her, was so sad after receiving the first pay knowing I invested so low with fear
When Dave calls you honey, just hang up 😂
It's all over when the honey comes out
😂😂
Lmao 🤣
Hertz just unloaded their used Tesla fleet further pushing down the price of used model 3's. It's actually a decent time to buy a used Tesla model 3.
How many Teslas did Hertz have?
@@genxx2724 Idk if it's all of them but 30k model 3's so far.
IF you were already looking to purchase one and you can afford to pay for it in cash. Just because something is on sale doesn't mean you should buy it.
Telas are depreciating 5% a month because they keep dropping prices is what i hear
5%/mo...lol. No.
You know. When I was younger, I thought these folks were annoying discussing how budgeting was important. Now that I’m 25, they’re so right, payments and debt keeps you poor and prevents wealth.
Mike, Mike, Mike. Us old folks are annoying, we get that. Once we're old fat, grey and wrinkled, it's the one thing left that we can take pride in. The other thing about being annoying is that it diverts any attention from just how stupid we were when we were your age and younger, and that includes with our finances. That's how we know very well that payments and debt will keep you poor. Well, it used to keep you poor, now it's an odds on chance that it's going to see you homeless. Good luck not keeping up with the Jone's, they really don't care what you do, don't waste your time and money.
Yeah they sure do I hope you can be free in your 20s!
Imagine when you turn 30 😂 I feel ancient
Young people should listen to elders and learn.
The older you get, the smarter old people become.
Nobody is buying that POS
He said “ I did not listen to my wife. I did whatever I wanted to do.” Why are you married? Car is a depreciating asset. Purchases like these, your wife should be in agreement. Poor lady married to a rebellious, stubborn man. Her cross to carry.
Enjoy your Tesla!
Oh my god. He traded in 5k debt for 40k debt.
no 5k was negative equity. he was probably 30k in debt but on a slower depreciating car
Remember when HOUSE payments were $900 a month? For an actual building and land? Glad a bought property instead of nicer cars!
You're comparing the value of money at different times. A starter house here is $4000/mo now, so that $900 car payment is equal to $225 back when houses were $1000/mo. The real issue is the dollar is no longer worth anything.
Elon lowers the price on new Teslas, therefore used ones deprecate ridiculously fast. Watch TFL EV.
$80k of household income & a $43k car. 😳👎👎How dumb.
Yeah, Dave's rule of thumb is no more than half your annual income for a car. But that doesn't take 13% interest rates into account! OMG, that is financial suicide.
A 43k car they bought totally unnecessarily. Dude had a newish working reliable car. Got to impress his work friends that rent.
@@joesmith3590hey, its quick though. 😂😂😂
@@reginaldsafety6090 his rule is no more than half of annual income AND it must be purchased without a loan. That's why interest rates don't matter in that context.
Complete stupidity.
Congrats saving on gas. 😂😂😂
Does Dave really expect a guy who got himself in this situation to be able to sell his car for $7000 over the trade in value?
Trade in value is not market value. Two different numbers. Private sale you’ll always get more as your selling directly to the buyer. Where as a dealership needs to assess any expenses occurred to purchase and then re-sell the vehicle and still have there own margin as a business, that trade in value will than need to be less then market value.
Caller lives in Ft Lauderdale Florida. Word to the wise: next time there is a hurricane evacuation, don't take the Tesla. You might make it to Daytona before the battery craps out, then you're stuck.
Soooo, an EV that runs on a big battery which will cost $15-30,000 to replace doesn't hold it's resale value. I'm shocked, SHOCKED I tell you.... (not).
You Can find Tesla 2021 18k nowadays 😮
Man, 80k income and spending 900 a month on a car? Just why??
Can depend on Marital status. Married couples get benefits like better tax experience, lower car insurance, cheaper phone bills, other bills split, better job security. That’s why more couples spend like that. Basically enabled.
What? Are you asking me? How would I know, I've driven paid for bombs all my life. I paid cash for my first new car at the age of 49. My better half is about to pay cash for her first new car at the age of 53.
lol no couple spend like that because they have 2 jobs. Single and angry much?
@@joesmith3590 why would anyone be single and angry because they question someone buying a car more than half their income? What are you even talking about??
I don’t know maybe the guy that named all the benefits couple with kids get all angry?
*Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*
Hello , I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can't decide what is best. Can you explain further how you invest and earn?
Same, I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Angela Christine Derle, has been an amazing experience.
YES!!! That's exactly her name (Angela Christine Derle) so many people have recommended highly about her and am just starting with her 😊from Brisbane Australia🇦🇺
Hello how do you make such monthly?? I'm a born Christian and sometimes I feel so down 🤦♀️of myself because of low finance but I still
believe in God
I'm favoured, $60K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Ms Angela 😊🎉
MAKE SURE YOU CHANGE THE TIMING BELT ON THE TESLA EVERY 70K MILES AND THE TURN SIGNAL FLUID EVERY 5K!!!!!!
But think of all the money he saves on gas 😂😂😂😂😂😂☹️😂
I thought the two words at the end would be "rice & beans"
Dave dropped the honey bomb.
At least they’re saving $200 bucks a month on gas with their $900 car payment.😂
It’s true. I charge at home for near nothing. I don’t miss that gas pump at all. But, I make 4x what this fellas household income is.
@@CurieBohrhow’s your electric bill?
@@TRC296 honestly, I didn’t notice a difference. The app keeps track. You put in your local power company, then it keeps track of kilowatt hours. It is laughable how cheap it is. It took 4 months to charge over $50, but I’m not in a blue, overcrowded state with ridiculous power fees. Its the same price 24 7
@@TRC296 Coal powered cars are the best!
I’ve run the numbers for our situation. Our current vehicles are paid for. Even with having real cheap electricity rates like we do….the break even point of an EV, assuming fairly high average fuel costs for the duration is in the neighbourhood of 8-10 years. That assumes a cash purchase as well. Any financing would skew that even more, as would fuel costs averaging lower than what was calculated.
Thats the lifespan of the vehicle. Sure, the numbers work differently if you are already planning on buying a new vehicle….but trading in a paid off vehicle for a new one solely to save money on fuel is rarely ever going to work in your favour in the end.
That's why I will always have a gas car! Nope!
💯💯
Tesla’s are great cars. If you can afford one. If not, it’s a shackle
He was better off getting a Corolla if he's doing all that traveling. SHEESH!!!!
Bought a 10 year old Lexus with 68,000 miles for cash last year. Best decision I ever made.
I don’t like Lexus at all, but those old never driven grandma cars are a steal
@@adamseidel9780 true.
Dave stop giving horrendous advice. The difference between trade in and private sale is 2-3k. Its nowhere near 6k. Do you think dealers make 8 9k on avg used car sale? Ive been selling cars for 14 years. Daves car advice is insane
When Dave calls another man "Honey"....
To be fair, he did sound feminine at times 🤷♂️
@@JakeStewart1343 🤣
I bet he spent the tax credit on other stuff too.
That’s why the resale value is so bad. They’re sold at a price with a large tax credit assumed in. The secondary buyer doesn’t get that credit, so that money is just gone. Plus the market has clearly gotten oversaturated with them so anybody who wants one either already has one or is buying a new one. There is no demand for them among used car shoppers. They don’t really “depreciate” faster in terms of losing inherent value, it’s just pure supply and demand on the resale market.
5. Cocaine
3:15
Dave: “So have you had enough fun with these cars you cannot afford?”
Caller: “No, I have not.”
😂😂😂😂
Which is exactly what everybody says who hasn't paid cash for a 911 to add to their collection of 911's. I love cars, but nowhere near enough to burn wads of folding on them.
He admits it was a dumb decision. Clearly he misunderstood the question.
@@wittenberg5 Clearly it was a good joke because he will probably go trade in the Tesla for another new car.
Tiktok has made people dumber. I can't believe anyone would buy those cars especially to save the environment 😂!
Always hear about cars depreciating but never see it reflected when going to buy used car lmao right now a used 2021 tesla 3 and y with 50k miles is selling for mid $30’s. It actually makes sense to buy a brand new 2024 after the 7500 incentive and the new car is $40k.
what's up with these re-uploads
That actually makes sense. I bought a Model 3 LR with acceleration boost and FSD for $62k around the same time and now it's probably worth about $30k. But it doesn't really bother me considering I make $190k as a 27 year old engineer, which I shouldn't be making until I'm at least in my 50s or 60s.
Lol making a lot of money is no excuse for bad financial decisions. But hey, you do you.
Was it a business expense?
I hope you paid cash.
did he drop an f bomb @ :25 seconds lol
He said “now im stuck in this mess”
@@E.Asinus it sounded like he said "effin" mess lol
It's nearly hurricane season, where these things can be driven into storms and left.
EV's depreciate so much that once you own them for longer than 5 years, you have to donate at least one human child to the finance company.
It's because Tesla stock went down so they cut prices on the new ones
My wife was interested in a model 3, about a year ago. I ran the math and nearly fell off my chair. The depreciation and insurance was insane, and that was before the price cuts. Ouch.
Not everyone cares about depreciation. We are not planning to sell our Tesla.
We purchased our 2021 Y and got it in the end of 2020. It is still worth half of what we paid.
@@IrisP989 There's no problem with that, if you can afford it. For a lot of people, that's really expensive motoring.
I'm in Australia. When my wife was looking at upgrading, it worked out to be a bit over $300 Aud. (c$200Usd) per week over 3 years, not including finance. That was out of our budget. She's just bought a Jimny (I know!), but the depreciation is next to nothing on those things. It's all about what you can afford to spend at the end of the day.
Wow, Dave is completely disconnected froms what's going on in the car market. Tesla values dropped aggressively because Tesla slashed MSRP by multiple thousands of dollars in like three occasions since 2023. He won't find anyone willing to pay anywhere near what he owes. You can find multple listings of every Tesla model with very few miles selling for penuts.
You are correct!! I thought I wanted the X until I came to California and everyone is driving Tesla’s and found out the insurance coverage is outrageous
As Al Pacino said in Glengarry Glen Ross, "You flecking child"
No one wants a used EV. You can't account for the battery condition - a pothole, it sat in water, who knows (?) There's no reason to take that risk, and this guy was caught in the EV downdraft this year. The people who want them, already have them. I'm also curious why he needs 30k/miles a year... that's enough to suggest he needs to move, or get a different line of work.
LOL Ken has it right. "Yes, dear" is exactly what my dad said that saved their marriage of 73 years before he died.
Tesla at 13%, $900 a month. Dear lord.
Here I am trying to talk myself out of buying a ranger raptor by watching this and now I’m like nah it’s not even that dumb. Holds value better plus I make more and it wouldn’t be at 13%… not the desired effect
I got a Toyota. My neighbor said… smart. Better to own a Toyota than owe a Lexus.
Lexus is made by Toyota. But a Toyota Camry is as durable as a Lexus not just as fancy. It's all about priorities.
Lexus are just luxury version of Toyota . They have same engine and components
Lexus is a very smart purchase. They're built with the same quality of the regular Toyotas, but are fancier.
Dave: "you could probably find someone that would buy that thing" 😂
People are so stupid when it comes to cars. They are just cars! They get you from A to B. Don't make them part of your persona.
I like Dave's math here. The husband did 4 dumb things.😆 Im gonna use that math at my house.
Painful.
The only reason Teslas have depreciated so much is because 1. Tesla has dropped prices a lot since last year to deal with economy and 2. They give 7.5k tax credit that comes off taxes vs price of the car so you’re paying 7.5k over value but getting back in tax saving.
Rule one of buying cars… never role negative equity into the deal. You’ll never get out of debt if you continually do that. Also, 43k at 13 percent for 900 dollars. Wonder if that’s a 72 month term. The car may not even be running before he pays it off…
30k miles a year is nuts for a personal vehicle he uses for work.
Buying a Tesla to use as a high-mileage vehicle? That defines dumb.
2000%
Why? It's cheap to run
@@grod805 Cheap on fuel, yes. Insurance and depreciation are off the charts.
@@grod805 But expensive to buy and to insure
Absolutely wrong we’re putting 40,000 miles a year in our Tesla model three standard range. Excellent, comfortable car. I went into the knowing that it would be worth six cents at the end of our useful life for it.
Insurance on these is an absolute nightmare. I will admit that.
The tiniest body damage can cost $10k.
13 percent????
This all started when Hertz put their electric fleet up for sale. They did this when they realized nobody wanted to rent them and the CEO has since stepped aside because of the failure of his decision to promote them.
If this gentleman doesn't sell now, he will be down another 20% in a few months. Electric vehicles are plummeting as we speak because the American consumer has finally realized that these fully electric vehicles are not the future. Hybrids are the future. This is what happens when the government tries to force something into a capitalist economy and control the market. The free market wins every single time.
..."but i'LL saVe mOneY oN gAs"...
Yeah. Tesla depreciate extremely quick. If they didn't. And they fixed a few of there interior design problems. I might have one. Until they do though. Meh. Glad they are here but I don't like setting fire to money.
The whole electric vehicle is BS. Once you consider depreciation and the additional cost of the vehicle like 20k to 25k extra than a regular gasoline vehicle you are really not saving a lot in most cases it is the same.
Also insurance is higher...they won't admit it but it's true. Doesn't take much to total out a Tesla.
Don’t these cars lose more than half their value after a year or two? I have no idea why people spend so much on these cars.
Yeah because they wear out at 70k miles or 100k because the battery needs to be changed which is half the value of a new Tesla.
Everyone I know who owns a Tesla loves it, so I see why people spend so much on it. I’m not a Tesla owner myself but just anecdotally I know a lot of happy Tesla owners
@@TonyCox1351 I believe the phycological phenomenon is known as confirmation bias.
@@Overlord277 Lol, they do not wear out at 70k. There is 10 years of analysis that shows the wear rate on a tesla is about 40% below that of an ICE car. The battery failure rate on the model 3/Y are under 0.2% (less than 2 per thousand sold). Of course, given enough time, all batteries will fail, just like all engines and transmissions will fail. It's amusing that people are hung up on battery replacement costs but never factor new engines into their purchases...why? Because the car is a worthless pile of crap by the time a good engine fails, but the key point is it's no different with a battery.
@@OtisFlint Yeah I don't care what analysts think. I can read data sets just fine. You're also insane to consider regular maintenance being near the cost of battery replacement, especially when you consider there's a good market of people who do their own work.
Buying things to impress people who you will never meet.
Yes dear 🤣
"Yes, dear" 🤣
Battery life is important to EVs not miles.
Both. Cars are cars. Everything deteriorates or requires replacement with mileage and age.
My car payment is $1000 for Ford Expedition L
Saving gas though lol my friend says it costs like 35$ to chare on a supercharger so i dont get it
And good luck taking a road trip in these too when there are no charging stations around.
How often is he charging on a supercharger?? Unless he travels 200 miles a day, almost every charge should be at his home
@@TonyCox1351 every time he stays out of town or on a road trip the argument they save ya money is wrong the batteries are horrible for the environment they have no reaell value at all only argument to buy one is they are fun to drive up to 120 mph other than that they are worthless that last cold spell that hit we find out the batteries wont charge cause they using all the power to heat the batteries
Ken looks like he just got out of the shower.
He’s looking kinda rough today. Needs a good haircut.
really dumb he lost all his money because of the Telsa now he has to start over DUMB!
Even dumber because his wife said no.
But think about all the money he saves on gas and oil changes 😂
Yeah, but think how much he spent on diaper changers when he saw the resale value.
No one talks about it, but electric cars depreciate really fast.
And the insurance on them is OUTRAGEOUS!