Dave Ramsey goes in on everybody with a payment

[T. Sanford]

I always say as long as you are not a slave to a car payment then cool but I still won't shoot too high for a new-used car. I really can't see myself breaking over $15,000 before financing tho. I am recently in the market to buy another car & this episode I am going more up to date than my last. Last car, I had for 10 years & put a lot of maintenance into it. I did get my money worth out of it tho. Sometimes, you just want something new especially if you have the funds to do it. I need something that is very very reliable because I am going to be on the road a lot next year. Plus since I am close to finishing school then it will be an early graduation gift to myself. Thank God, that he blessed me to build my account up better than ever. I am the greatest of all time at budgeting. When I was stretching out the broke stage, I was humble with money & still is to this day

 

[CapitalB]

I need to make thread about credit.

problem is ....all y'all that say credit is bad is using it wrong.

I just learned something about credit and cash an it was a very costly an stupid mistake.

everything is about perspective

i got some OGs in the square world thats been puttin me up on alot of game and even got me lookin at it differently..

im pretty much a social butterfly and talk to anyone amd these are older BLACK gentlemen that took notice and a liking to me and have kind of taken me under they wing.. said i make too much damn money to be spendin my own damn money if that makes any sense..

and of course me bein from the hood im the first in my family and circles to make the kinda money i do.. everything has been trial and error.. but these cats got a lil money and they in circles wit millionaires and when i say millionaires im talkin cats in the 9digits...

now granted those cats are white.. but they share information.. and my OGs like if "if i knew then like i know now" wit the information they soaked so they givin it to me so i aint gotta wait another 20yrs to come to their same realization..

aint bout to go into too much detail.. but yeh.. credit is key.. we black folks jus never been educated to the game.. amd our culture teaches us to shun it..

 

[Peace_79]

Buying a brand new car or even slightly used is not an investment. If you wanted to save money you would have gotten a 90s civic or Corolla. Niggas really paying over 5k for a econobox?

It can absolutely be a sound a investment. Most of us need private transportation to make it to our jobs. So, if I invest 30,000 in a sound auto that gets me to and from work for 10+ years that vehicle would have more then paid for itself. I'm cool with investing 30,000 over 5 years to make 320,000.

I know folks who drive beaters ( I did early on as well) who end up losing money because their vehicle is constantly in the shop or acting up causing them to be late or miss work.

Lol what modern day vehicle you buying that is going to be sound even up to 100k or not give expensive upkeep before then? What you going to do when you try to sell that car you spent $30k on that is now depreciated to 3k? Why do the people you know buy or inherit shitty cars and think buying new is the better option when they could have a car that is reliable, good aftermarket, and have shitloads of information. Also easier to work on

plenty modern day vehicles have warranties that last up to 100K.......and any car whether new o old is going to require some maintenance

IMO it's better to spend on a car u at least had when it was new and drive it to 100K vs driving a bucket that cam from somewhere else

either way u driving a car with 100k on it, it's just whether u want it to be ur car or someone else's old car ( and u never really know how someone else treated their car before it was sold)

I have done it both ways.

News cars >>>>>>> used cars

From both a form and functional perspective AND a financial perspective.

I can't tell you how much money I have spent, seemingly every other month, fixing random bullshit on the used cars I had in college.

Not to mention when I made the mistake of paying for an after market warranty that basically covered nothing.

 

[Cinco]

In one of my fields,Real estate you better use credit, or "OPM" other people's money.

No matter how U look at it a car is the worst piece of Shit u can buy talking about an investment, but to smell that new leather... wooh lol

 

[T. Sanford]

Buying a brand new car or even slightly used is not an investment. If you wanted to save money you would have gotten a 90s civic or Corolla. Niggas really paying over 5k for a econobox?

It can absolutely be a sound a investment. Most of us need private transportation to make it to our jobs. So, if I invest 30,000 in a sound auto that gets me to and from work for 10+ years that vehicle would have more then paid for itself. I'm cool with investing 30,000 over 5 years to make 320,000.

I know folks who drive beaters ( I did early on as well) who end up losing money because their vehicle is constantly in the shop or acting up causing them to be late or miss work.

Lol what modern day vehicle you buying that is going to be sound even up to 100k or not give expensive upkeep before then? What you going to do when you try to sell that car you spent $30k on that is now depreciated to 3k? Why do the people you know buy or inherit shitty cars and think buying new is the better option when they could have a car that is reliable, good aftermarket, and have shitloads of information. Also easier to work on

plenty modern day vehicles have warranties that last up to 100K.......and any car whether new o old is going to require some maintenance

IMO it's better to spend on a car u at least had when it was new and drive it to 100K vs driving a bucket that cam from somewhere else

either way u driving a car with 100k on it, it's just whether u want it to be ur car or someone else's old car ( and u never really know how someone else treated their car before it was sold)

I have done it both ways.

News cars >>>>>>> used cars

From both a form and functional perspective AND a financial perspective.

I can't tell you how much money I have spent, seemingly every other month, fixing random bullshit on the used cars I had in college.

Not to mention when I made the mistake of paying for an after market warranty that basically covered nothing.

Same thing with my car. It seem like it became a habit that a discrepancy will happen to my car. I lost trust in it years ago. Last time, I just said "mannnnnn f this, I'm about to get something else".

I forgot I had two cars during a time. My other car was more up to date with low miles when I got it. It was the GOAT too & hardly gave me any problems except maybe a thermostat. Easy to mobile & ride like a champion anywhere. I used to feel comfortable hitting Atlanta & back to the city with no worries

 

[SmashinYourWaifu]

Buying a brand new car or even slightly used is not an investment. If you wanted to save money you would have gotten a 90s civic or Corolla. Niggas really paying over 5k for a econobox?

It can absolutely be a sound a investment. Most of us need private transportation to make it to our jobs. So, if I invest 30,000 in a sound auto that gets me to and from work for 10+ years that vehicle would have more then paid for itself. I'm cool with investing 30,000 over 5 years to make 320,000.

I know folks who drive beaters ( I did early on as well) who end up losing money because their vehicle is constantly in the shop or acting up causing them to be late or miss work.

Lol what modern day vehicle you buying that is going to be sound even up to 100k or not give expensive upkeep before then? What you going to do when you try to sell that car you spent $30k on that is now depreciated to 3k? Why do the people you know buy or inherit shitty cars and think buying new is the better option when they could have a car that is reliable, good aftermarket, and have shitloads of information. Also easier to work on

plenty modern day vehicles have warranties that last up to 100K.......and any car whether new o old is going to require some maintenance

IMO it's better to spend on a car u at least had when it was new and drive it to 100K vs driving a bucket that cam from somewhere else

either way u driving a car with 100k on it, it's just whether u want it to be ur car or someone else's old car ( and u never really know how someone else treated their car before it was sold)

Unless its a performance car it doesnt make sense. You will save much more money going old. Once that warranty goes all you have is a depreciated to shit, harder to service (diy), with a lot of electronics that can go wrong. Also may lord have mercy on your soul if the auto transmission goes out after the warranty. Which then makes your only option is to get another car (more debt yay) or pay expensive repairs.

Getting a 90s civic for $2500-4000 slowly setting aside $2k just incase will be more reliable than say a Hyundai

 

[SmashinYourWaifu]

Come on b you know that someone old car shit is rich white girl logic

 

[SmashinYourWaifu]

Another example is buying a e36 bmw. Can find one below 100k miles for around the $3500 area. Engines can easily last 200k+ easily. Since its an old car most problems and troubleshooting has been done to death and well documented online so you can do preventive maintenance. One of its major weakness is the cooling system. Shit can go bad and pretty much can leave you stranded on the road with a cooked engine. You can overhaul the cooling system even if youre relatively new to wrenching for like 500~600. You just avoided having to pay a lot for a new car and have a reliable vehicle that needs routine maintenance and maybe suspension parts for the next 100k miles. Theres no way buying new is better than this

 

[Cinco]

@SmashinYourWaifu stop nobody is nursing a BMW to 200k miles

 

[SmashinYourWaifu]

@SmashinYourWaifu stop nobody is nursing a BMW to 200k miles

Nigga i will direct you to bimmerfest

 

[Rasta.]

@SmashinYourWaifu stop nobody is nursing a BMW to 200k miles

@Cinco I know folks that have 150k on theirs...not that they can't cop a new one cash.

Used to do valet for these Jewish folks back in college at 10, 20k a plate dinner and they pulled up in mostly beat up whips, but they lived in multi million dollars mansions. They tipped well too...owner of under Armour, Ravens, Ryan Homes etc.

 

[Cinco]

Yah they can be nurses there @Rasta. @SmashinYourWaifu exactly folks with the bread to throw at em Or enthusiasts that do it for the love of the brand.

After 100k those gaskets turn to mush

 

[SmashinYourWaifu]

Theres e46s and e39 thats well into 150k+ that doesnt need head gaskets changed. And maintenance isnt that much if you shop around and do most of the work yourself. Thats of course if you dont get the Ms or the 540

 

[kzzl]

Where I'm from we need vehicles too last. We don't care if it depreciates in value cause we trying to hold on to that joker till the wheels fall off, literally. Paying that bitche off and still riding in it till the kids are old enough to drive, then they can have it.

My last 5 cars were all used money pits. I dumped money on mechanics, repairs, maintenance, and was scared to even drive them suckered out of town. No peace of mind. Being in a car dependent town and you gotta work on your shit at given moment is not the business. And good luck at finding an honest dependable mechnic.

I got my Dodge brand new off the lot in 2011 for 22k and it's been the best purchase I ever made. Just cracked 75k miles on it and no problems. The dealership even tried to buy it back from me recently. Paying that joker off next year and still keeping it. But I ain't buying used again.

 

[SmashinYourWaifu]

What cars are you niggas buying that is shit? I hope yall aint buying notorious unreliable cars then call them money pits when they aint reliable

 

[Cinco]

What cars are you niggas buying that is shit? I hope yall aint buying notorious unreliable cars then call them money pits when they aint reliable

For longevity I swear by Japanese vehicles and have had one of mine for 12 years only one major issue. Before that I had honda accords no problems. Has an Infiniti G37 it was okay had a clutch issue once.

Until I bought an Italian car I've never seen more expensive things in my life. $3400 brake computer $1900 for a new oil pan, brakes 1400$.

So if we're talking economical solution I'll promote Japanese all day.

 

[T. Sanford]

Where I'm from we need vehicles too last. We don't care if it depreciates in value cause we trying to hold on to that joker till the wheels fall off, literally. Paying that bitche off and still riding in it till the kids are old enough to drive, then they can have it.

My last 5 cars were all used money pits. I dumped money on mechanics, repairs, maintenance, and was scared to even drive them suckered out of town. No peace of mind. Being in a car dependent town and you gotta work on your shit at given moment is not the business. And good luck at finding an honest dependable mechnic.

I got my Dodge brand new off the lot in 2011 for 22k and it's been the best purchase I ever made. Just cracked 75k miles on it and no problems. The dealership even tried to buy it back from me recently. Paying that joker off next year and still keeping it. But I ain't buying used again.

That's how I used to be with my last car lol. I drove it to Atlanta one time & shit start acting up. Then I let my brother borrow it one time (because I had two cars during the time) & the fuel pump went out on him at his baby momma house in Atlanta smh. Make it so bad; I used to stay on top of the upkeep. So when it starts messing up then I'll get frustrated af lol.

Like I said previously, I had a 2002 Escort that I got back in 04'. Mannnnnnnn that car didn't give me any problems at all. I drove it to Atlanta with no problem. My brother drove it there on two occasions with no problem

 

[T. Sanford]

@SmashinYourWaifu I had a bowling ball black Crown Vic. I bought it in 06'. This was during an era when people used to grab caprices, regals, cutlasses, Monte Carlos, impalas , Vics & slide rims under them. Gotta say that car was a bad investment bruh lol

 

[Peace_79]

Old lady was stranded on the highway with a hooptie back in the day...

Had to drive up 3 hours to meet her.

Add on to that the constant repair bills.

But we haven't had any problems with the new cars.

I ain't never going back.

 

[kzzl]

I will say that I hate paying a note. Truthfully, paying it outright is always the better option, but not everybody has that 20 or 30k for that. If you can find a reliable used vehicle and know a good mechanic, that can be a better option too. But that shit just wasn't going my way at the time.

When I got my current truck it was because I'd managed to straighten my finances out a bit while whipping the hoopty. No matter what kind of loan, lease, rent, or whatever you get, you've got to work on your credit score. My shit was good enough at best, had an apr of 11% back then. My score was around 620-634. Get your shits around the 800s and better. Get that 3% apr. That's how you need to do it if you gonna do it.