Cars, Trucks, and Debt | Why it Never Ends

When you finally grow up - you start to respect the uncool corolla driver.

It's about time some one said the obvious and had an honest conversation about this. Thank you.

It's crazy how we've gone from a few utility bills a month. To almost every product we have being a "service" with a recurring payment structure. Such a trap.

Re-watching in 2020 when all of the major auto manufacturers are advertising 84 month loans like it's normal

The problem is the average person in Canada and USA think that financing a $65k car with a $40k salary is perfectly normal and fine

Watching this in 2024. Still holds up.

I'm a car guy, but I'm also a realist. People in general spend WAY TOO MUCH on their car purchase. When friends tell me they leased their new luxury car or they bought that new car with 7yrs financing, that tells me immediately they bought far above their income level. If you cannot afford to pay a car off within the warranty limits, you cannot afford the car. That's a good rule of thumb. Too many people finance for 4yrs beyond the warranty limit, then end up stuck with a car payment AND having to make car repairs out of pocket. That's a sucky position to put yourself in. You can buy whatever you want, just don't screw yourself over having unrealistic expectations. For the love of God, don't buy a car above your means to impress others. You're setting yourself up for financial failure and no one gives a shit what you drive to begin with. There's always someone out there driving something nicer than your ride, so don't bother trying to be a showoff. No one likes a pretentious tool anyway.

A mint condition Japanese Econobox gives me a deep sense of peace whenever I see one on the road.

Dave Ramsey show is like 90% people asking how to manage their budget after buying a $50,000 truck.

I like Mark sporting a Maserati cap while talking about car debt and cc payment default... 😉😁

the best car to drive and own - is the one that is paid off

Cars are not investments -- they're the opposite of an investment.

Just recently sold my golf R to get out of debt. It was hard to truly enjoy the car since I realized majority of the time I'm sitting in traffic, payments, worrying about debts, chips, other driver so bought a old Honda pilot. What a relief!

not just cars now phones, house and rent all have raised while wages barely changed.

Its world-wide problem, not just US. Too many people fall prey to bankers. I've bought my first car with financing. Overpaid quite a lot. Never again. Currently debt free and not buying anything I can't afford.

I was making like.... 25k a year or something, and I bought a new 2016 Fieast ST. WORST MISTAKE OF MY LIFE SO FAR!!!! $330 a month for the next 8 years????? Wow..... About a year into it I was bored of the car, and I said screw it. I saved up 8 grand to pay off the depreciation and I sold the car. Biggest lesson of my life. I'm never buying a new car again.

Which is why I buy used cars that have already been hit with depreciation.

Mr. Geese, this isn't political at all. It's common sense. Pretty refreshing these days.

It’s true. Cars are too expensive. Even the used cars are getting really expensive.

As a kid under 20 years old, I found this really insightful and it got the gears turning. Love the channel and how down to earth it is .