Depends on the car, some are sketchy once you get above 75k. Also you never know when it might get totalled and can't wait to see if it was an act of God or not according to your all-knowing insurance company.
Sketchy in what way ? If you fix them properly with correct parts a car that has made it to 100k allready that has been maintenanced properly will be good to go another 100k.
Right?! Mine is 16 years old, 161,000 miles and I'm trying to keep it going as long as I can. I bought it new in 2003. I want my next car to be new also because if I'm spending that much money, I want what I want and to enjoy it. Besides, I'll keep the next car forever anyway, lol so I'll get my money's worth out of it.
That means she takes home between 59k-61k. In addition to her debt freedom....her future is unbelievably bright! She can travel whenever and wherever she wants, pursure her most wildest dreams, and my absolute favorite, INVEST in HERSELF. She can buy the most effective tools (without griping about how expensive they are) in order to effectively cultivate her passions and aspirations. Debt freedom is the FOUNDATION on which all of your wildest dreams can finally come into fruition. The person you become when you attain that goal is one that is fully equipped to accomplish any other desire you have in life. I am extremely proud of her!
I guess some people just read the title and don't actually watch the video. She's not trying to buy a brand new vehicle, but a used vehicle that is new to her. On a side note good for her for being so proactive.
As long as she maintains the car then what’s the issue? Just make a car maintenance/repair fund. At 93k miles the tranny and engine should be just fine for at least another 50k miles.
@@davidlynch7704 she could but she doesn't want to save up to pay for major repairs that will come up and the small repairs that will start to make the car and money pit.
I have a 3.5 year old paid off car. Every month I send my old car payment to a savings account so I'll be ready when it's time for a new car. My last one was 10.5 years old and I'd still be driving it, but I was hit from behind and pushed into another car in front, and it was totaled. I hope to keep the car I have for 12-15 years.
Maryland Monroe im almost done paying my truck off it will be done in Sept and I'll keep it at least 6 or 8 years more after that I'm going to do same as you put Payment away I don't want car payment ever again. I might save it all and take car repairs from that account too not sure. We have two vehicles and the other one is paid off it will last another 5 years or more easy only has 40k mi on it...just over 5 yrs old
22 and drive a 16 year old Acura rsx with 113k miles. All my friends trying to talk me into getting a new truck like they have where they pay $400 a month just for the payment and not including insurance. Sounds ridiculous to me. Rather run my current car into the ground and save myself 400+ a month
@@leorising8074 racist white people.....dont bring race into this by mentioning hes black...also racist white people....well you know most blacks cant save or live within their means.......racist telling other black people to stop being racist....the epitome of white priviliege.
I am 25 and 4 months from completing baby step 3, but we are going with an 8 month emergency fund. Started the debt free journey in early 2019. Paid off car and no consumer debt, never went to college. Time to increase my income 5x and pay cash for that 1st house.
She sounds scared of falling behind with a mixture of she's worked hard and now wants to treat herself. I mean it great to hustle and save money, invest, but what's the point of having money if you can enjoy it? You can't take it with you and you can't say for sure the people or entities you leave it to will do right by it. I'm not trying to be 60+ before I enjoy my money. Nope.
silentj624 I think it’s a matter of perspective and goals. For some, like myself I don’t care about flashy cars or clothes. I care about security and freedom. For others like yourself you hustle for nice things. Nothing wrong with either. What I have learned is that the harder I have worked with a plan in place, the more I value my money and the less I value stuff. At least for me, stuff will never make me happy, freedom and security will.
@@dangeles95 so then what do you do with the money? Let it stack and do nothing but stack more of it? Nah. I'm trying to get out of debt and stack money so that I can do stuff other than save and invest more. Not that I would ever stop doing those things. I'd like to bump down to part time and working when I feel like it.
half the people in the comments either didn't watch pass 10 seconds before commenting or they are just jealous of her success and the fact she is able to save money to buy a car BEFORE her current car needs replacing so she will be ready when the time comes... smh...
@@AnaxofRhodes I'm 26 an engineer, live in a nice area suburb of nyc and I;m blessed to make more money than I ever thought I would and thanks to people like Dave I am making good choices with it.
@@remake1191 i'd say I'm pretty smart with money. I have savings and no debt. All girlfriends that i had so far had big money problems, so that's why it's refreshing to find someone who's good with money
My first car I bought was back in 2004, a Honda Accord. To-date it’s got 390k miles and two years ago I retired it and is now my in-town “local runs” car. I commute 125 miles per day (round trip) to and from work. I no longer can rely on that 2004 car and about 2 years ago I bought a 2017 Honda Accord as my new commuter car and hope to drive it until I retire in about 10 years. Put down $25k on it with a two year payment plan...few more payments and I’ll be done before the end of this year. Just keep driving until the car can’t drive no more, reliably.
Bought mine new. 2008 Kia Spectra. 11yrs old and has 68k miles on it. 😊 Runs great! P.S. Erica is probably one of the MOST money smart callers I've heard on this show. Kudos to her.
It's great to plan ahead. Just keep saving up until your current car no longer runs, then take whatever money you saved up and buy what you can afford with that. I have a little extra in my emergency fund, about $200 extra, in case my phone gets to a state beyond repair. I can get a respectable phone for that if my phone goes beyond repair. If you're really paranoid, just give yourself some insurance on the side in case it breaks down. But don't actually buy a car before you actually need to.
@@666dynomax I own a Prius and I have tried to peel out with the car. It will not allow me to. Thus it will not allow a renter to do so either. Hope this helps.
Put your car payment into your regular budget whether you have a car payment or not. If you don't have a car payment, use that money for car maintenance and saving for your next car.
I have a 2010 Volvo C30 with 205,000 on it. Still runs good, I’ve had to spend a few thousand over the last few years for maintenance, the A/C doesn’t work, there’s a leak that constantly keeps the floorboard carpet wet, front window rattles because the adhesive wore off, but it still runs great. I don’t have any plans on getting rid of it anytime soon.
TWDxKILL3R 2011 Volvo C30 here with 121,000 miles. Floor board issue is due to the sunroof drainage pipes leaking. Pull off the A pillar cover and replace it with a metal piece. I promise it’ll fix it. These cars are awesome I hope to hit 200,000+ miles on mine!!
Wish I could help here. I have one magnificent, indisputable life skill ... I know how to pick good used cars for very little money. Bought a 1994 Ford Taurus for $500, drove it for 5 years with only a water pump replacement during that time; and currently own a '92 Honda Accord with 300k miles, that was my commuter car, 60 miles one-way, for almost a year, paid $1,000 for it. Thanks for all you do, Dave, I'm learning a lot and planning for my future (at 54 yo).
Saving is great and needed but life is short too.. if you save and sacrafice all your life, youll die with alot of money that someone else will enjoy on your behalf...
I’ll be turning 25 soon, and I have a 2 year old son.. that being said I bought my car 3 years ago cash it’s 15 years old with 96 thousand miles.. I always planned on buying a new vehicle but had a change of heart since I had my son so luckily I managed to save $40,000 for my down payment on my home...but all my friends drive extremely nice cars and I get bummed out all the time lol.
I feel you. I'm about to pay off my extremely reliable 2014 kia rio with only 65k in miles but get super bummed out every time a get passed by a v8 :( whats the point lol
Two of my coworkers just bought -$25,000 cars. We all make about $24k per year. I try to talk to them about paying them off ASAP and then they just talk about the next car in two years they want when they sell the $25k car. People are insane and it’s hard to get to them. It’s like I’m speaking another language and I end up feeling like I’m the crazy one.
The most important question is what model of car has 93,000 miles. We all know the models that aren't making it... Transmission CVT? Made by Jatco? Now if it's a toyota corolla... you shouldn't even be thinking there's an issue til 200k - then it's just a water pump around 220-270k. After that who knows.
Just took my car to the dealer to get the air bag replaced (recalled). Next day I get a call and they tell me I'm eligible for a trade in. I tell them WHAT, I only got 61000 miles. I expect to get 300,000 miles on my Corolla.
I live in South Florida, and the problem here is that the prices of used cars are so expensive you’d be better off buying a new car and try to get a manufacture rebate and low APR. Reason is, inventory is low for used cars and dealers try to mark them up for 5-6k over what they pay on a trade in. In other words, cars that should be 12-14k used are now16-18k.....and I’m talking about midsize cars, civic, corolla, mazda3....etc. your better off buying new for 20k, especially if your the type of person that keeps cars for a while and pays them off.
I have a 10 yr old truck with 96k miles on it and it’s mechanically sound. I also have a 6 yr old son that I hope to see drive it one day. There’s no way I would be willing to part with it right now. PUT MORE IN INVESTMENTS, and PAY DOWN your house! The freedom you’ll experience when your house is paid off (or you have the ability to pay it off) is absolutely amazing!
Keep it. My 22 year old car drives ok. Still keeping it. Transmission slipping a little , need new radiator , starts every time. Drive cars till the wheels fall off or if they are no longer safe. Getting a new car also means in most cases higher insurance than a owned car
Makes me feel better, 2 income household making 175K yearly and just bought a 3 year old Camry for 15 grand and thought it was on the high end. According to Dave I could be driving a BMW with no problem, no thanks.
My parents bought brand new and kept the cars for 8 years paying them off in 3 years. I buy brand new and keep it 10 years paying it off in 3 years. I don't borrow more than 9 grand. Trust me you lose your job you will be ok with a 163 a month car payment.
We're at this stage, about same age, Step 7. Our cars are old: two are pushing 20 years. The car we're looking at may not be preowned/used (only a sparse few on the road, finally spotted it once the other day), but new is still only $20,000. We're doing it via sinking fund, like Dave said: throw extra money into savings and let it sit there till we really need it. Caller's not asking to raid her savings prematurely for a fancy new $20k+ car, nor to get rid of her current car today. Caller's asking how much should she save up before she really needs a replacement. And 15 grand is reasonable for her. She's preparing for the inevitable.
Through my experience at 10 years the car may be running good but you gotta get a 2-4 year old car, keep it until it's 10 years old wash, rinse, repeat.
I drive a 2003 Civic with over 200k miles, own a house , have over 100k in savings, 800+ credit score, 0 debt other than my mortage.. could've purchased a new car to me years ago.. I do get looks from time to time when I hang out with friends and family and they see me pull up in my 03 civic.. I'm not cheap, I just watch what I spend money on, I work very hard for my money to just throw it away.. I'm 35
Lolol 93k . My family drives vehicles into the ground kinda miles. My dads explorer when he retired it had a big antifreeze leak but he had drove up to 345,000 miles on it when he sold it .my truck has about 300,000 miles on it . It's a 30 year old chevy Cheyenne 5 speed 2wd truck it's exterior it all kinds of crazy . I bot it for 600 dollars and have drove it about 50,000 miles so far. it's still a drivin today gets about 19 too 21 miles per gallon.
10 years old 93K You still have another 100,000 good miles to go Do save money for car just in case. Practice making car payments. $ 400 a month . See how you feel each month putting away. Can you handle it. If you can. Keep it up $400 a month put away. 1yr 2yr 3yr 4yr. Just keep it going
The key with cars is buy the cheapest car that you feel is pretty nice for you...and buy used not new. Used 3 to 4 years old is the sweet spot for a good car...has plenty of life and save a good amount if you look well. Also pay cash. Most do opposite and buy the nicest they can afford and finance and repeat every 4 years or so.
I was so sad when my 16 year old car broke down and needed $900 worth of repairs to run again (it was worth $1200 private sale). Got a new-to-me car since it was $300 away from being totaled. It had 165,000 miles on it, I was so sad I never got it to go to 200,000 :(
A major reason to get a new-ish car is for the safety reasons. Crumple zones, airbags etc have made huge advances the last decade. 15k will get you something really safe and reliable.
I already know . . . Don't buy a new car but let me continue watching. BTW, My car is a Galant 2007 and has 261,000 miles and it still runs like the first time I bought it. Love my baby
Something I've learned about saving for a car...... new cars for each year they are considered "new" will generally cost close to the same range. If you were to save money for a newer car......by the time you reach the goal of a new car's cost, the latest and greatest would have been out already. For example..... if it takes 5 years to save, and its 2019 now, then by 2024 you can buy a 2024 car instead of a 2019 car. (But of course I understand and respect Dave's principle of buying less than new cars)
My Jeep JK is 12 y/o runs so good and is awesome at the beach, the guy that sold it to me is sending emails and calling me to upgrade it every 2 to 3 weeks... I'll keep it until is gone. My past Jeep Cherokee was 250K and 20 y/o
I hate these kinds of silly calls. All she has to do is pick a car and calculate how many months it would take to save that much with her extra income. It's simple multiplication but she couldn't do that herself?
I imagine IL is much like New England for cars- it can be less the engine that kills a vehicle, a decade in, than issues from all those years of salt used to treat the winter roads.
And if you desire something fancier and have the income to justify it, a used Lexus is another good choice. No crazy rare import parts like a Merc or BMW. Most of the parts are the same as a Toyota, and thus readily available and inexpensive.
I drive a 20 year old car and have never saved specifically for a new car but if this one packs up and I haven't got the money there for a new one,I'll just have to go without until I can afford to buy one outright.
Paying for wear and tear on an old car will almost always be cheaper than making car payments on a newer car. The car I daily drive is 20 years old and there's still a lot of life left in it. I plan on driving it for at least a few more years.
Just save for a car until about ~$15-20K. You don’t have to use it until you need it. But you know it’s there. Then when your car breaks down to the point where it’s not worth fixing then buy your new car. Spend whatever you’re comfortable with.
Nobody is past necessity if they have a mortgage. A house on a 30 year, at the end of the term you pay 50% or more than the principal, depending on your individual rate. A car that you don’t need is a huge opportunity cost when you lose money on interest.
She thought Dave meant $15k plus the current value of her car which is $7k. But he’s assuming she doesn’t buy for awhile, like when her current car breaks down and/or isn’t worth much, if anything. Great call. Very sensible.
My dad car got 500k miles on the dash still bussing that baby up 🚗 💨 his philosophy is “your car is like your heart until it stops you don’t stop” so keep on driving
The car only has 93,000 miles on it, keep driving it until you can't drive it anymore, keep saving and investing your money, buy another car and junk the old one, do not trade it in at a dealership, they will only rip you off against another car.
Man I tell you what only in the US miles Matter country’s outside of here just look at the condition and that it my cousin bought a 2005 Honda Accord bought it for $1500 150k miles runs smoothly and says best decision he ever made financially goes further than his old car even with half a tank of gas and no car payments or interest on it and also insurance is low.
1) milage means nothing, it depends on how well the car has been maintained. 2) older cars have a sigma to them because sometimes the manufacturer stops making parts for it; however auto parts salvage yards like LKQ pick your part make that myth to be debunked 3) A 2 year old car has an extremely high depreciation market value on it 4) get the car checked out by an independent mechanic
I dont know about you girl I always tend to buy used cars around 100,000 to 150,000 miles. They tend to run real good next 8 years with no problems. My problem is ppl tend to hit my cars. That's why I dont buy new. I Buy used, insurance gives me a check for the value of the car. Tends to work out fine for me
Gotta know what car he's driving with 200,000 miles, probably a toyota - but then again he does have the money to repair just about any car regardless of model.
I live in Australia bought a golf r a year and a half ago for $60000 it has 11000 km on it now by the time it has 40000 on it I will sell it and buy another one.
She's nervous about having a car with 93k on it? That's when I usually buy them and then keep them for 10 years.
I know right? I got 2 cars, one I got with 128k and I got 314 on it now. That's a win. My new one just got same make 6 years newer is @140k.
Depends on the car, some are sketchy once you get above 75k. Also you never know when it might get totalled and can't wait to see if it was an act of God or not according to your all-knowing insurance company.
Oh hey, you're the house of hacks guy 😃
Sketchy in what way ? If you fix them properly with correct parts a car that has made it to 100k allready that has been maintenanced properly will be good to go another 100k.
Right?! Mine is 16 years old, 161,000 miles and I'm trying to keep it going as long as I can. I bought it new in 2003. I want my next car to be new also because if I'm spending that much money, I want what I want and to enjoy it. Besides, I'll keep the next car forever anyway, lol so I'll get my money's worth out of it.
Making $71k a year at 28 years old, man I got to make a change.
Mind me asking if thats before or after taxes?
@@JOMFSE He is referring to the person in the video.
@@JOMFSE Dave asks before taxes.
Chicago=high cost of living
That means she takes home between 59k-61k. In addition to her debt freedom....her future is unbelievably bright!
She can travel whenever and wherever she wants, pursure her most wildest dreams, and my absolute favorite, INVEST in HERSELF. She can buy the most effective tools (without griping about how expensive they are) in order to effectively cultivate her passions and aspirations. Debt freedom is the FOUNDATION on which all of your wildest dreams can finally come into fruition. The person you become when you attain that goal is one that is fully equipped to accomplish any other desire you have in life.
I am extremely proud of her!
I guess some people just read the title and don't actually watch the video. She's not trying to buy a brand new vehicle, but a used vehicle that is new to her. On a side note good for her for being so proactive.
I appreciate how Dave is mentors his staff. So cool
And I loved how AO is true to what they teach...still driving an 11 yr old car with 200k miles on it. ;)
Unexpected to have a smarter person calling in lol
🤣🤣🤣
Extremely rare
It was also a good question.
10yr old 93k miles good condition why not keep driving ?
Lol right
Mike Arredondo she's talking about saving for one in 3-5 years
As long as she maintains the car then what’s the issue? Just make a car maintenance/repair fund. At 93k miles the tranny and engine should be just fine for at least another 50k miles.
@@davidlynch7704 she could but she doesn't want to save up to pay for major repairs that will come up and the small repairs that will start to make the car and money pit.
gotta keep impressing those ghosts man come on
I have a 3.5 year old paid off car. Every month I send my old car payment to a savings account so I'll be ready when it's time for a new car. My last one was 10.5 years old and I'd still be driving it, but I was hit from behind and pushed into another car in front, and it was totaled. I hope to keep the car I have for 12-15 years.
W
That's exactly why I'm saving, I drive a Toyota with under 100k on it but being a cheap car it wouldn't take much to total it.
If you do that for 10 years you'll be able to buy three cars are you going to stop saving or keep saving
I'll probably stop saving in that account and invest elsewhere.
Maryland Monroe im almost done paying my truck off it will be done in Sept and I'll keep it at least 6 or 8 years more after that I'm going to do same as you put Payment away I don't want car payment ever again. I might save it all and take car repairs from that account too not sure. We have two vehicles and the other one is paid off it will last another 5 years or more easy only has 40k mi on it...just over 5 yrs old
22 and drive a 16 year old Acura rsx with 113k miles. All my friends trying to talk me into getting a new truck like they have where they pay $400 a month just for the payment and not including insurance. Sounds ridiculous to me. Rather run my current car into the ground and save myself 400+ a month
Liked this for the RSX. Keep it
19 and was looking to buy an rsx too
yeah, keep the RSX. They are very fun, tossable cars.
Great car,vtec yo
Kudos to you for not being an idiot lol
Good to see a black brother up there man. It hurts to see brothers spending like they got a million bucks when they got nothing.
That's extremely racist like for real
@@dmpsix7417 , you wouldn't understand
@@leorising8074 racist white people.....dont bring race into this by mentioning hes black...also racist white people....well you know most blacks cant save or live within their means.......racist telling other black people to stop being racist....the epitome of white priviliege.
BS
2019 everything's RACIST!
She was a smart caller for sure. Go Erica!!! 💕✨
Your channel looks interesting, I am going to check it out!
I am 25 and 4 months from completing baby step 3, but we are going with an 8 month emergency fund. Started the debt free journey in early 2019. Paid off car and no consumer debt, never went to college. Time to increase my income 5x and pay cash for that 1st house.
Don’t get a new car until you actually need one , if your current car is running smooth then why replace it ?
so you're not left stranded in the middle of the road when you knew it was gonna break down anytime soon
@@ladhkay Hopefully she took care of her car and bought a Honda/Toyota and has about 10 more years left. Haha.
She sounds scared of falling behind with a mixture of she's worked hard and now wants to treat herself. I mean it great to hustle and save money, invest, but what's the point of having money if you can enjoy it? You can't take it with you and you can't say for sure the people or entities you leave it to will do right by it. I'm not trying to be 60+ before I enjoy my money. Nope.
silentj624 I think it’s a matter of perspective and goals. For some, like myself I don’t care about flashy cars or clothes. I care about security and freedom. For others like yourself you hustle for nice things. Nothing wrong with either. What I have learned is that the harder I have worked with a plan in place, the more I value my money and the less I value stuff. At least for me, stuff will never make me happy, freedom and security will.
@@dangeles95 so then what do you do with the money? Let it stack and do nothing but stack more of it? Nah. I'm trying to get out of debt and stack money so that I can do stuff other than save and invest more. Not that I would ever stop doing those things. I'd like to bump down to part time and working when I feel like it.
half the people in the comments either didn't watch pass 10 seconds before commenting or they are just jealous of her success and the fact she is able to save money to buy a car BEFORE her current car needs replacing so she will be ready when the time comes... smh...
If more people were as proactive as this young lady, more people would enjoy financial security and far less stress in that area of life.
Yup
The road to riches, you have to be super discipline!!
Is Erica single LOL, hey boo
Gold digger!!!!!!!!!!! (Just kidding.)
@@Skweepa Nah, women like this ESPECIALLY at our age that are this wise and responsible are RARE
She sounds like a unicorn. You better be just as rare and valuable.
@@facelessman5362 Are you suggesting men can't be gold diggers because there aren't enough well-off women?
@@AnaxofRhodes I'm 26 an engineer, live in a nice area suburb of nyc and I;m blessed to make more money than I ever thought I would and thanks to people like Dave I am making good choices with it.
I recently bought a 1999 4Runner with over 150,000+ miles and she’s still running :) I want to keep her until I have enough for a newer 4Runner
She’s in such a good position in life.
She sounds like wife material.I want to have wife who's smart with money.
Seriously
Probably her husbands money lol
teicix ask yourself if you yourself (single) are smart with money. Don’t want what you yourself can’t sustain.
@@remake1191 i'd say I'm pretty smart with money. I have savings and no debt. All girlfriends that i had so far had big money problems, so that's why it's refreshing to find someone who's good with money
Trust me it’s awesome having a wife who makes 6 figures
My first car I bought was back in 2004, a Honda Accord. To-date it’s got 390k miles and two years ago I retired it and is now my in-town “local runs” car. I commute 125 miles per day (round trip) to and from work. I no longer can rely on that 2004 car and about 2 years ago I bought a 2017 Honda Accord as my new commuter car and hope to drive it until I retire in about 10 years. Put down $25k on it with a two year payment plan...few more payments and I’ll be done before the end of this year. Just keep driving until the car can’t drive no more, reliably.
Toyota, Lexus, Honda. Older model 150k miles or less and have a good cars for years to come.
Bought mine new. 2008 Kia Spectra. 11yrs old and has 68k miles on it. 😊 Runs great!
P.S. Erica is probably one of the MOST money smart callers I've heard on this show. Kudos to her.
Update on the Kia?
My Volvo is from 1992 and has almost 260K. It's still my daily driver. Only downside is 18 mpg.
First caller I’ve in a while not on baby step 2
Tells you a good idea about the ratio of people on Step 2 vs. Steps 4-7.
Man, they're almost always baby step 2.
Or baby step #1
And not to carry on, on that path
People really freak out about having 100,000 miles? I have 150k and im happy
Mine is 200,000 ...i don't care for car payments 😳. Just a 🔧 to get me to where i need to be.
Right! She is doing great! Good for her. This girl is freaking out for no reason? Is it being "over-privilege?"
I have over 230,000 miles. I should be more worried
Man... My 1992 Toyota Camry got me up 376,000 miles. I bought it for $400, sure I put in about $2000 into it over time. It lasted me 5 years.
My subaru has 285k and it drives better than most peoples car.
You don't. Get preowned. Saves you thousands.....toyota toyota toyota
I drive a 2001 landcruiser litterally the best vehicle ever lol
Learn from my boy scotty
They did not talk about buying brand new in this video...
@@MikeyFFA500 why does the title say" save for a new car". I would assume it literally meant that..
I wouldnt buy a new Toyota to save my life. Americans keep believing they make good vehicles so the resale value is good on them but they are trash.
It's great to plan ahead. Just keep saving up until your current car no longer runs, then take whatever money you saved up and buy what you can afford with that. I have a little extra in my emergency fund, about $200 extra, in case my phone gets to a state beyond repair. I can get a respectable phone for that if my phone goes beyond repair. If you're really paranoid, just give yourself some insurance on the side in case it breaks down. But don't actually buy a car before you actually need to.
15 k gets a great car.
For sure 15k used car is a 3 to 4 year old car that was mid 20s easy.
S R some people are scared of rentals I would not be for the right car right price. Most people don't hot dog rentals like you think
@@666dynomax I own a Prius and I have tried to peel out with the car. It will not allow me to. Thus it will not allow a renter to do so either. Hope this helps.
2014 Toyota Avalon Limited
One of the greatest tools I've used to get to financial success is never having a car payment and driving older cars.
Put your car payment into your regular budget whether you have a car payment or not. If you don't have a car payment, use that money for car maintenance and saving for your next car.
Dave Ramsey > Going to school
*Dave Ramsey =Going to School*
Fixed it for you 😁
I have a 2010 Volvo C30 with 205,000 on it. Still runs good, I’ve had to spend a few thousand over the last few years for maintenance, the A/C doesn’t work, there’s a leak that constantly keeps the floorboard carpet wet, front window rattles because the adhesive wore off, but it still runs great. I don’t have any plans on getting rid of it anytime soon.
TWDxKILL3R 2011 Volvo C30 here with 121,000 miles. Floor board issue is due to the sunroof drainage pipes leaking. Pull off the A pillar cover and replace it with a metal piece. I promise it’ll fix it.
These cars are awesome I hope to hit 200,000+ miles on mine!!
Has anyone else tried callling in and just listened to it ring and ring and ring with no answer?
Wish I could help here. I have one magnificent, indisputable life skill ... I know how to pick good used cars for very little money. Bought a 1994 Ford Taurus for $500, drove it for 5 years with only a water pump replacement during that time; and currently own a '92 Honda Accord with 300k miles, that was my commuter car, 60 miles one-way, for almost a year, paid $1,000 for it. Thanks for all you do, Dave, I'm learning a lot and planning for my future (at 54 yo).
My rule is always save what you would be paying a month for a good used car for 4 to 5 years then pay cash.
I’m still driving my Toyota solara 2000 217km and still fixing passing DEQ 💪🏽
Saving is great and needed but life is short too.. if you save and sacrafice all your life, youll die with alot of money that someone else will enjoy on your behalf...
I’ll be turning 25 soon, and I have a 2 year old son.. that being said I bought my car 3 years ago cash it’s 15 years old with 96 thousand miles.. I always planned on buying a new vehicle but had a change of heart since I had my son so luckily I managed to save $40,000 for my down payment on my home...but all my friends drive extremely nice cars and I get bummed out all the time lol.
I feel you. I'm about to pay off my extremely reliable 2014 kia rio with only 65k in miles but get super bummed out every time a get passed by a v8 :( whats the point lol
I love when people say cars are an "investment" and it puts a smile on my face knowing how wrong they are.
Keep the 93k mile car
Two of my coworkers just bought -$25,000 cars. We all make about $24k per year. I try to talk to them about paying them off ASAP and then they just talk about the next car in two years they want when they sell the $25k car. People are insane and it’s hard to get to them. It’s like I’m speaking another language and I end up feeling like I’m the crazy one.
The most important question is what model of car has 93,000 miles.
We all know the models that aren't making it... Transmission CVT? Made by Jatco?
Now if it's a toyota corolla... you shouldn't even be thinking there's an issue til 200k - then it's just a water pump around 220-270k. After that who knows.
Just took my car to the dealer to get the air bag replaced (recalled). Next day I get a call and they tell me I'm eligible for a trade in. I tell them WHAT, I only got 61000 miles. I expect to get 300,000 miles on my Corolla.
I live in South Florida, and the problem here is that the prices of used cars are so expensive you’d be better off buying a new car and try to get a manufacture rebate and low APR. Reason is, inventory is low for used cars and dealers try to mark them up for 5-6k over what they pay on a trade in. In other words, cars that should be 12-14k used are now16-18k.....and I’m talking about midsize cars, civic, corolla, mazda3....etc. your better off buying new for 20k, especially if your the type of person that keeps cars for a while and pays them off.
I have a 9 year old Audi A4 with 117k miles and runs good with no issues. Just keep your good maintenance and you should be fine
Mine is 11 years old 189,000 miles still running like a champ. THANK YOU JESUS!!😊🙌🏻GOD IS GOOD!😊🙌🏻
I have a 10 yr old truck with 96k miles on it and it’s mechanically sound. I also have a 6 yr old son that I hope to see drive it one day. There’s no way I would be willing to part with it right now.
PUT MORE IN INVESTMENTS, and PAY DOWN your house! The freedom you’ll experience when your house is paid off (or you have the ability to pay it off) is absolutely amazing!
Honda Civic with a manual transmission best car ever if you're looking for cheap and reliable. If you need automatic go with Corolla...
Keep it. My 22 year old car drives ok. Still keeping it. Transmission slipping a little , need new radiator , starts every time. Drive cars till the wheels fall off or if they are no longer safe. Getting a new car also means in most cases higher insurance than a owned car
Makes me feel better, 2 income household making 175K yearly and just bought a 3 year old Camry for 15 grand and thought it was on the high end. According to Dave I could be driving a BMW with no problem, no thanks.
My parents upgrade cars every 20 years lol
XCVI Mac your parents smart people .
My parents bought brand new and kept the cars for 8 years paying them off in 3 years. I buy brand new and keep it 10 years paying it off in 3 years. I don't borrow more than 9 grand. Trust me you lose your job you will be ok with a 163 a month car payment.
What brand new car are you paying 163 a month for over 3 years and paying it off?
A Ford Fusion.
@@wesjimez2941 down payment of 20k? Because 163x36 is less than 6k
We're at this stage, about same age, Step 7. Our cars are old: two are pushing 20 years. The car we're looking at may not be preowned/used (only a sparse few on the road, finally spotted it once the other day), but new is still only $20,000. We're doing it via sinking fund, like Dave said: throw extra money into savings and let it sit there till we really need it. Caller's not asking to raid her savings prematurely for a fancy new $20k+ car, nor to get rid of her current car today. Caller's asking how much should she save up before she really needs a replacement. And 15 grand is reasonable for her. She's preparing for the inevitable.
Through my experience at 10 years the car may be running good but you gotta get a 2-4 year old car, keep it until it's 10 years old wash, rinse, repeat.
Girl is killing it!
I drive a 2003 Civic with over 200k miles, own a house , have over 100k in savings, 800+ credit score, 0 debt other than my mortage.. could've purchased a new car to me years ago.. I do get looks from time to time when I hang out with friends and family and they see me pull up in my 03 civic.. I'm not cheap, I just watch what I spend money on, I work very hard for my money to just throw it away.. I'm 35
$100k in savings?! 👍🏻
My Honda car got totaled this year so next purchase was a 2016 Mazda 3. Love it. Good looks and reliability.
Lolol 93k . My family drives vehicles into the ground kinda miles. My dads explorer when he retired it had a big antifreeze leak but he had drove up to 345,000 miles on it when he sold it .my truck has about 300,000 miles on it . It's a 30 year old chevy Cheyenne 5 speed 2wd truck it's exterior it all kinds of crazy . I bot it for 600 dollars and have drove it about 50,000 miles so far. it's still a drivin today gets about 19 too 21 miles per gallon.
10 years old
93K
You still have another 100,000 good miles to go
Do save money for car just in case.
Practice making car payments. $ 400 a month .
See how you feel each month putting away. Can you handle it. If you can. Keep it up $400 a month put away. 1yr 2yr 3yr 4yr.
Just keep it going
The key with cars is buy the cheapest car that you feel is pretty nice for you...and buy used not new. Used 3 to 4 years old is the sweet spot for a good car...has plenty of life and save a good amount if you look well. Also pay cash. Most do opposite and buy the nicest they can afford and finance and repeat every 4 years or so.
I was so sad when my 16 year old car broke down and needed $900 worth of repairs to run again (it was worth $1200 private sale). Got a new-to-me car since it was $300 away from being totaled. It had 165,000 miles on it, I was so sad I never got it to go to 200,000 :(
$70K a year ? Good for her!
Dave Ramsey never gives a bad idea. 👏👏👐👐 that's why I wanted his videos all day everyday. Helps me a lot.
try Clark Howard
I mean to write watch. Lol! My bad ppl
@@KS-cl8br ok I will look him up
A major reason to get a new-ish car is for the safety reasons. Crumple zones, airbags etc have made huge advances the last decade. 15k will get you something really safe and reliable.
Heatadin SOME ARE REQUIRED FOR THOSE SAFETY RECALLS AND WHAT NOT.
@@pao8110 WHY ARE YOU YELLING
I already know . . . Don't buy a new car but let me continue watching.
BTW, My car is a Galant 2007 and has 261,000 miles and it still runs like the first time I bought it. Love my baby
She is a good example!
My Volkswagen Passat 2006 running at 210k still running strong.
I love this - I love hearing success
Something I've learned about saving for a car...... new cars for each year they are considered "new" will generally cost close to the same range. If you were to save money for a newer car......by the time you reach the goal of a new car's cost, the latest and greatest would have been out already. For example..... if it takes 5 years to save, and its 2019 now, then by 2024 you can buy a 2024 car instead of a 2019 car. (But of course I understand and respect Dave's principle of buying less than new cars)
Your an awesome person. Keep driving. I drive a 1998 chevy monte carlo "LIKE NO ONE ELSE "! Ms. Daisy gets me to work and wherever I need to go !😎
My Jeep JK is 12 y/o runs so good and is awesome at the beach, the guy that sold it to me is sending emails and calling me to upgrade it every 2 to 3 weeks... I'll keep it until is gone. My past Jeep Cherokee was 250K and 20 y/o
I hate these kinds of silly calls. All she has to do is pick a car and calculate how many months it would take to save that much with her extra income. It's simple multiplication but she couldn't do that herself?
I imagine IL is much like New England for cars- it can be less the engine that kills a vehicle, a decade in, than issues from all those years of salt used to treat the winter roads.
Buy a Toyota great low maintenance car
Anthony Kence I made a mistake on buying a “new car 4 years ago. It’ll be the last one
And if you desire something fancier and have the income to justify it, a used Lexus is another good choice. No crazy rare import parts like a Merc or BMW. Most of the parts are the same as a Toyota, and thus readily available and inexpensive.
I drive a 20 year old car and have never saved specifically for a new car but if this one packs up and I haven't got the money there for a new one,I'll just have to go without until I can afford to buy one outright.
17 year old car 181k miles gonna run till 300k and my goal is to go 600k miles for fun.
Jiffer what type of vehicle? Great job by the way!
Don’t buy a new car 🤦🏻♂️
you didn't listen to the video!, title is misleading
New as in new to them
Paying for wear and tear on an old car will almost always be cheaper than making car payments on a newer car. The car I daily drive is 20 years old and there's still a lot of life left in it. I plan on driving it for at least a few more years.
dang 10 years old with 93k, my truck is less than 5 years old with almost 96k. and it runs perfect with no issues
Just save for a car until about ~$15-20K. You don’t have to use it until you need it. But you know it’s there. Then when your car breaks down to the point where it’s not worth fixing then buy your new car. Spend whatever you’re comfortable with.
There is nothing wrong with saving what your car is depreciating annually why not save that up to 15 20k and buy a nice used Lexus or acura
As these people bragging that they have 100k on their car, I've got 518k on our 7.3 diesel
My 99 7.3 has 135k. Allot of life left in it!
Nobody is past necessity if they have a mortgage. A house on a 30 year, at the end of the term you pay 50% or more than the principal, depending on your individual rate. A car that you don’t need is a huge opportunity cost when you lose money on interest.
She thought Dave meant $15k plus the current value of her car which is $7k. But he’s assuming she doesn’t buy for awhile, like when her current car breaks down and/or isn’t worth much, if anything. Great call. Very sensible.
I realize people have money problems whether they have alittle or a lot. At some point lets just live and dont be a robot.
More money more problems
My dad car got 500k miles on the dash still bussing that baby up 🚗 💨 his philosophy is “your car is like your heart until it stops you don’t stop” so keep on driving
93k miles!!! I have a friend who had a 1996 Jeep Grand Cherokee with 270k miles, and it still ran like a top *sorta* til he flipped it!
The car only has 93,000 miles on it, keep driving it until you can't drive it anymore, keep saving and investing your money, buy another car and junk the old one, do not trade it in at a dealership, they will only rip you off against another car.
This girl's killing it!
Man I tell you what only in the US miles Matter country’s outside of here just look at the condition and that it my cousin bought a 2005 Honda Accord bought it for $1500 150k miles runs smoothly and says best decision he ever made financially goes further than his old car even with half a tank of gas and no car payments or interest on it and also insurance is low.
Used to buy cars 200% of our annual income. Today....about 15% of our income. Two reasons....more income now, but also much less car.
Buy a Toyota! You’ll thank me later.
Ain't that the truth!
Depends my wifes Camry drinks oil has 190k miles and a known issue on 07 to 10 Camry. But even a Toyota with issue is better than most cars.
Dexter Morgan i had 09 camry. Only issue was burning oil fast. Had to top the car up monthly. Other than that it was a great car.
All Toyota does is burn oil.. Honda makes better cars
lunisce neither of my two Toyota’s drop a bit on the stick between oil changes
My 97 Toyota has 185k miles and my wife's 2005 Toyota has 190k miles
Have a 10yr old car with 160k miles on it does't have a problem in the world just gonna keep driving it until I absolutely need a new car
1) milage means nothing, it depends on how well the car has been maintained.
2) older cars have a sigma to them because sometimes the manufacturer stops making parts for it; however auto parts salvage yards like LKQ pick your part make that myth to be debunked
3) A 2 year old car has an extremely high depreciation market value on it
4) get the car checked out by an independent mechanic
I dont know about you girl
I always tend to buy used cars around 100,000 to 150,000 miles.
They tend to run real good next 8 years with no problems.
My problem is ppl tend to hit my cars. That's why I dont buy new. I Buy used, insurance gives me a check for the value of the car.
Tends to work out fine for me
Gotta know what car he's driving with 200,000 miles, probably a toyota - but then again he does have the money to repair just about any car regardless of model.
The are a lot of people like this that freak out when their car hits $100000 miles. For some makes that's barely broken in
You answered your own question darling!
Somebody scored a perfect on her math SATs!!!!
I live in Australia bought a golf r a year and a half ago for $60000 it has 11000 km on it now by the time it has 40000 on it I will sell it and buy another one.
Next week is my final car payment. Can't wait.