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There is always the middle solution and it's usually the better solution.
Buy a used but good 8-10-year old car that is in very good condition for about $10K-$12K which should last you 15 years of good service. Pay this within 2 to 3 years.
A 10 year old car isn't going to last 15 years with "good service". In 5 years it will start having major mechanical problems which will cost you a LOT OF MONEY
That's the problem with this "buy a cheap used car" zealotry. It seem like a lot of people have never actually owned an older car and have no idea what it involves
A 10 year old car isn't going to last 15 years with "good service". In 5 years it will start having major mechanical problems which will cost you a LOT OF MONEY
That's the problem with this "buy a cheap used car" zealotry. It seem like a lot of people have never actually owned an older car and have no idea what it involves
Or, perhaps we have owned older cars, and we are speaking from experience.
Anybody that has half a brain can see thru his bulls@&$. Telling people how to get out of debt and then pushing his term life, elp's, financial peace crap and all the other trinkets, all in gods name.
On the car subject, poor , broke people certainly don't need a new car, nor do they need a one or two year old car. But, they do need a good dependable vehicle to get to work so they can pay there bills. Dave is telling people to sell there $4-$5000 dollar car (that works perfectly fine) and buy a $1000 dollar car, that they have no history or other info on. Really, unless a relative is selling this to you, this is very bad advise, unless on of his ELP's is cashing in on the deal.
The guy pushes mutual funds ( I have a few but only indexes) thru his ELP (of course) but never mentions an index fund. Why? Because he can't cash in on it. The guys a tool!
Anybody that has half a brain can see thru his bulls@&$. Telling people how to get out of debt and then pushing his term life, elp's, financial peace crap and all the other trinkets, all in gods name.
On the car subject, poor , broke people certainly don't need a new car, nor do they need a one or two year old car. But, they do need a good dependable vehicle to get to work so they can pay there bills. Dave is telling people to sell there $4-$5000 dollar car (that works perfectly fine) and buy a $1000 dollar car, that they have no history or other info on. Really, unless a relative is selling this to you, this is very bad advise, unless on of his ELP's is cashing in on the deal.
The guy pushes mutual funds ( I have a few but only indexes) thru his ELP (of course) but never mentions an index fund. Why? Because he can't cash in on it. The guys a tool!
So I guess you have 1/4 to 1/3 of a brain? He never advocates selling a $4,000 car for a $1,000 car. I have NEVER heard him say anything close to that in 10 years of listening. He advocates getting rid of a FINANCED $15,000 car, if possible, in favor of a debtless $4,000 or $5,000 car. The idea is to get people out of debt. Not only car debt, but especially credit card debt. His advice is rational, sound, and good. And of course, being a good capitalist, he is running a business and will sell you stuff. And most of the stuff is good stuff like term life insurance or mutual funds.
The Jesus stuff you can just delete, however he does it with an obviously good heart and good intent. So for Christ's sake, listen between the lines and use more than 1/3 of that brain. He advocates working hard, taking responsibility, spending wisely, not getting into debt, and giving to charity with part of the scads of money you save and earn by following his advice.
We need more Americans to follow this plan, rather than the whining useless incompetent collectivist Hillary-loving hatred of the rich BS that we see so lovingly approved of in the liberal media.
Last edited by Marc Paolella; 12-20-2015 at 11:56 AM..
A 10 year old car isn't going to last 15 years with "good service". In 5 years it will start having major mechanical problems which will cost you a LOT OF MONEY
That's the problem with this "buy a cheap used car" zealotry. It seem like a lot of people have never actually owned an older car and have no idea what it involves
Owning and keeping older cars running isn't hard.
I have a 15 year old Ford truck and the only repair was a bad water pump a few years back. Everything else was maintenance. Tires get a bit expensive at $1500 a set but that's not a daily occurrence. I'm only on my third set n 15 years. I'm still on the original clutch. Interior is great and I just had it completely painted. Looks like a new truck.
I routinely get 150-200k out of my vehicles. Sure once in a while a trans breaks on a work truck but 2500-3000 for a trans repair beats 25-30,000 for a new car.
If you maintain a car and even with repairs it's cheaper in the long run. Sure it's not new. I have a 12 year old daily driver that looks brand new inside and outside . Still drives like new and everything works. The only repair was a recall on a bolt, a temp sender recall and a broken crank sensor and I had the timing belt replaced since they were elbow deep in the front end. Other than that no issues at all 12 year old car paid off for the last 10 years running as it was with the only out of pocket repair was the crank sensor about $400 unexpected repair. The timing belt is maintenance. Why would I go buy a new equivalent for 38,000. Yes I priced out what a new same model will cost me. Maybe I've just been lucky.
Buy new if it makes you fee better and don't want to deal with any random repairs
For someone who relies on dependable everyday transportation, I wouldn't recommend an older used car. Anything can go bad at anytime leaving that person without a vehicle for x amount of days while its in the shop getting serviced. Or even worse they can endure a major problem for which they can't afford to repair. My suggestion is a new car with very affordable monthly payments that you can afford. You will have a dependable and reliable vehicle that's covered under warranty for the first 3-5yrs.
My younger sister just went thru this dilemma and asked me for my advice. We ended up going down to the Honda dealership and getting her a brand new Honda Fit. Drove it off the lot with a small down payment and low affordable monthly payments that fit right into her budget. She now has the peace of mind knowing that she will have dependable and reliable transportation for many years to come.
Location: Stuck on the East Coast, hoping to head West
4,641 posts, read 11,959,677 times
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Quote:
Originally Posted by Electrician4you
Owning and keeping older cars running isn't hard.
I have a 15 year old Ford truck and the only repair was a bad water pump a few years back. Everything else was maintenance. Tires get a bit expensive at $1500 a set but that's not a daily occurrence. I'm only on my third set n 15 years. I'm still on the original clutch. Interior is great and I just had it completely painted. Looks like a new truck.
I routinely get 150-200k out of my vehicles. Sure once in a while a trans breaks on a work truck but 2500-3000 for a trans repair beats 25-30,000 for a new car.
If you maintain a car and even with repairs it's cheaper in the long run. Sure it's not new. I have a 12 year old daily driver that looks brand new inside and outside . Still drives like new and everything works. The only repair was a recall on a bolt, a temp sender recall and a broken crank sensor and I had the timing belt replaced since they were elbow deep in the front end. Other than that no issues at all 12 year old car paid off for the last 10 years running as it was with the only out of pocket repair was the crank sensor about $400 unexpected repair. The timing belt is maintenance. Why would I go buy a new equivalent for 38,000. Yes I priced out what a new same model will cost me. Maybe I've just been lucky.
Buy new if it makes you fee better and don't want to deal with any random repairs
Totally agree.
One thing that always surprises me is the assumption that a new car is maintenance-free. No way. Every car requires care and maintenance. Things will eventually wear out. That's life. I love my mechanic and body shop guy.
I'll also throw this out there----to find a used car that has been around for 10 years is saying something (good) about that car. Fiesta anyone?
So I guess you have 1/4 to 1/3 of a brain? He never advocates selling a $4,000 car for a $1,000 car. I have NEVER heard him say anything close to that in 10 years of listening. He advocates getting rid of a FINANCED $15,000 car, if possible, in favor of a debtless $4,000 or $5,000 car. The idea is to get people out of debt. Not only car debt, but especially credit card debt. His advice is rational, sound, and good. And of course, being a good capitalist, he is running a business and will sell you stuff. And most of the stuff is good stuff like term life insurance or mutual funds.
The Jesus stuff you can get delete, however he does it with an obviously good heart and good intent. So for Christ's sake, listen between the lines and use more than 1/3 of that brain. He advocates working hard, taking responsibility, spending wisely, not getting into debt, and giving to charity with part of the scads of money you save and earn by following his advice.
We need more Americans to follow this plan, rather than the whining useless incompetent collectivist Hillary-loving hatred of the rich BS that we see so lovingly approved of in the liberal media.
You must be one of his sheep! And yes he has said to sell a $4-$5k car and buy a $1k car, I heard it, listen between the lines! The losers that listen to him can't afford the crap he sells nor should they be donating to the church, they can't afford that either. I'll agree with you they need to reduce there (and eliminate it)debt, throwing it away on his products won't help. He pushes the Jesus to get a free place to peddle his crap when he comes to town. They invite him in hoping they (the sheep) will give more money (to pay priest lawsuits). The church and Dave both win. The sheep lose! What mutuals funds are the good ones? Probably the high front and rear load ones his ELP's push. And you don't need his ELP's for term insurance either, anybody with a good heart and good intent will tell you that. Get a good AAA+++ company and your set.
For someone who relies on dependable everyday transportation, I wouldn't recommend an older used car. Anything can go bad at anytime leaving that person without a vehicle for x amount of days while its in the shop getting serviced. Or even worse they can endure a major problem for which they can't afford to repair. My suggestion is a new car with very affordable monthly payments that you can afford. You will have a dependable and reliable vehicle that's covered under warranty for the first 3-5yrs.
My younger sister just went thru this dilemma and asked me for my advice. We ended up going down to the Honda dealership and getting her a brand new Honda Fit. Drove it off the lot with a small down payment and low affordable monthly payments that fit right into her budget. She now has the peace of mind knowing that she will have dependable and reliable transportation for many years to come.
And that's fine too. If you feel better buying new that's cool. I bought new cars before. One of my new trucks was in the shop a week later. Then it was in the shop randomly while under warranty. At 37,000 miles the front axle broke. By 72,000 the engine was rebuilt. Bought it new 20 miles on the odometer. Biggest turd I ever purchased.
But new cars break and after 3 years you rarely have every repair covered and and usually wear items are not covered anyway by a bumper to bumper warranty. Maintenance items are what most people classify as costly repairs. Sure some brands have covered regular maintenance for warranty period. 3/36. Most cars require little maintenance for the first 36,000. Hell most cars today will go 100-120,000 with little more than scheduled maintenance.
You must be one of his sheep! And yes he has said to sell a $4-$5k car and buy a $1k car, I heard it, listen between the lines! The losers that listen to him can't afford the crap he sells nor should they be donating to the church, they can't afford that either. I'll agree with you they need to reduce there (and eliminate it)debt, throwing it away on his products won't help. He pushes the Jesus to get a free place to peddle his crap when he comes to town. They invite him in hoping they (the sheep) will give more money (to pay priest lawsuits). The church and Dave both win. The sheep lose! What mutuals funds are the good ones? Probably the high front and rear load ones his ELP's push. And you don't need his ELP's for term insurance either, anybody with a good heart and good intent will tell you that. Get a good AAA+++ company and your set.
You don't need to take ALL his advice to heart. You can smoky use his structure for being debt free. You don't have to use his ELPs or fund investment strategy. I sure as heck dont. His strategy fir the mist oars doesn't apply to me. I purchase however it's best for my finances to purchase. I've bought cash, loan and lease on vehicles. It just matters what I need for that time or looking into the future planning.
His message is simply don't get n insurmountable debt over cars houses or baubles. Sadly most people feel that buy having the big house and expensive car and thriving money around that's how you show success.
I guarantee you if you give a person a $100,000 cc and 100,000 cash the money will be spent differently
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Ramsey is a fraud!
