Dave Ramsey is a hack.

Dave Ramsey is an out of touch asshole though.

Dave Ramsey hasn't tried to buy a reliable used car in the last decade, at least. You aren't going to find anything under about $10k that's actually reliable where I am. A mid-90s Toyota with 300,000 miles maybe, but not anything under 150,000.

In this land of legalised extortion in the form of insurance my friend who is in his mid 30s and been driving over a decade with no claims has to pay £700 per month.

My mum wanted to add my sister (again mid thirties and driving for nearly 20 years now with no claims) to her policy so she could borrow her car for a week and then maybe use the car once a month if that and they wanted an additional £1000 a month for the privaledge.

Fucking scum.

sure, maybe. but FUCK Dave Ramsey.

Assuming you begin investing at the age of 20 and invest $554 per month for 45 years at a 6% growth rate, you would yield 1.4 million. Definitely not MILLIONS.

What commonly goes unsaid in these conversations of insurance cost is the immediate disputes that occur with the provider.

Why am I paying tens of thousands a year to engage in an argument when making a claim?

As a pedestrian, I'm glad not to support big bike chain lube, I'm saving dozens of pennies annually

Memes circulating with this dude right now, even if positioning him as a chud, are a way to launder this dude as just a legit money guy. Sure, he has some basic, broad financial advice you can consider if you can see through all the Jesus and have no other options, but more than anything else, he's a vile human being.

Eat religious shit dave ramsey.

some people care DEEPLY about what kind of car everyone drives. that's literally why overpriced cars even exist

If you pay 500$ a month for 30 years at 5% interest compounded monthly you would contribute $180k and would have $416,129 so not really a million. You would need a little less than 9.5% interest to get a million. 2% interest is only getting you $246k which when you take into account inflation 2-3% normal average minus 5% one of the higher realistic interests that is what you are actually making .

Oh come on, Lemmy. I know I'm on c/fuckcars; but seriously - $600 a month for a new car sounds really good to me, I'm from Eastern Europe.

It's good because new cars are significantly more reliable, fuel efficient, safe and comfortable than 10+ year old cars. If you drive a lot and can't afford to pay $15k up front for a decent ~6yo car, then it's really not that bad. Much better than buying $600 rolling wreckage, I can tell you that much.

Yes people, I know you only use bikes and trains and whatnot. But some people neee cars, and you have to respect that. Or are you gonna tell this mother of 2, living in a village, working from office 20km from home, that she would be better off just sticking to the public transport which visits her place once every 2 hours.

Millions? I don't think so. There is no investment that would turn $30K or whatever into millions that was safe enough to work for the majority of people. But it would be a significant help.

That being said, for most people, the amount you'd spend to live in a place where a car isn't needed or constantly paying for ride share or taxis greatly exceeds the amount you'd save by not having a car for the vast majority of people, and that's not even getting into the ableism issue.

And sure we could get into buying a cheaper, used car or whatever, but in the long term the maintenance costs, having to buy another car sooner, and other financial risks to cars outside of warrantee over a lifetime will add up similarly unless you're really lucky or can repair your own cars.

That's really exorbitant insurance. I don't know where he lives or what is situation is but $350 a month is insane.

Insurance payments for teenage boys are INSANE. $100-150 is the usual but my buddy is paying literally $300 a month on a year 200X Tahoe that he bought for $700 and fixed himself. Its the cheapest option on his families insurance and his parents won't let him switch.

That's not even payments that's INSURANCE.

Honestly if someone were to have said that garbage to him 40 years ago he prolly would have called it unAmerican and communistical.

It is weird to watch the ethical scoliosis happen in real time over the decades.

It drives me crazy when i get spam that says they can save me money on my car insurance

O rly? How you gonna beat $0?

I paid $830/month for a moderately priced car at only 2.9% for a few years. 1/3 my current yearly salary in full. It wasn’t smart, but I beat inflation at that rate. That car let me and my wife travel so much in our early marriage and it was so worth it. The car is more expensive now then when I bought it.

I love that car and it brought me joy. It’s paid off now.

Tomorrow is not promised. Save for the future but don’t neglect being happy today. Go live a little.

Spoken like someone who's long since stopped worrying about having to commute without mass transit available.

If mass transit is available and reasonable then yeah, go off. But otherwise please stop blaming the victims of Capitalism.

A decent 7 year old car with 100k miles on it currently goes for about $15k. Everything private sale is a lemon, completely used up with over 200k miles, or 20+ years old. All still asking thousands more than they're worth.

This was the best thing about living in New York. No need for a car. No expenses paid in car payments, gas, or insurance. People claim that New York City is expensive, and rents are certainly higher than most places, but you end up saving so much money just on the cost of owning a car alone. Overall, the cost of living for me was much cheaper in New York City than it is now in Orlando.

I wish I had the resources to go back.

I was looking for a new car a few years ago, but i didn't have to rush, i didn't have a car for almost two years and just used my work car if i really needed one. Then covid hit and i was still sometimes browsing cars. People were selling the cars they no longer can afford and i was fucking shocked to see people selling cars saying that the monthly pay off is like 1200 or shit like that. Who would think that is a good idea? If you can afford it there is no reason to pay it off, and if you can't, it's too expensive. That is just the car payment, no insurance or road fees or anything.