When does it make sense to buy a brand new car?

When does it make sense to buy a brand new car?

Shelby in Corpus Christi is having car problems and wants to know if it makes sense to buy a brand new one. Dave explains his philosophy on new cars. ☆ FREE money tools and forms: http://daveram.

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25 Responses

  1. LaKenyaTwangs says:

    I wish I’d found Dave before I financed my car.

  2. trfrierson says:

    She made it through nursing school? She doesnt seem to bright lol

  3. Corvux IX says:

    4:55 LOL…Women!

  4. B Hirsch says:

    I have a 1996 chevy pickup I bought new for $15,200 in 1996. I have about
    225K miles on it. I got 0% financing. Since it is becoming 19 years old in
    2 weeks when 2015 hits, that means it cost me less than $1000 a year to
    drive. I paid $45 dollars on front brakes and $32 on rear ones. Do the work
    myself and have returned the used brakes under warranty every time for new
    ones since I save the receipt. I even have the original exhaust. My
    advice. But basic cars new and treat it well. 

  5. piffdos says:

    I bought a used Toyota echo for $3000, had it for 3 years, got out of debt
    and never had a single mechanical issue other than routine maintenance. You
    can spent way less than $10,000 and get a reliable car. 

  6. ir10031981 says:

    AAAAARGH! if you live in a “T” state, if you live in Tennessee or Texas,
    don’t bother calling to ask if it’s okay to finance a new car! you
    embarrass Dave Ramsey listeners in his state of Tennessee, and here in
    Texas where I live. You embarrass us.

  7. Izurin says:

    Lol I dont think she got it man…

  8. Douglas Moran says:

    The secret to buying a new vehicle well is (1) have a credit score over
    700, (2) understand the payment you can easily handle, and (3) research the
    price particularly the going price not the MSRP.

    The thing to recognize all vehicles cost money, new or used. In the end the
    actual difference between a reasonably priced vehicle, like a Civic, and a
    reliable used vehicle is not that different. For many, the benefits of a
    new vehicle are well worth a few dollars every month.

    However, it is extremely important to have a good credit score when buying
    a vehicle. The difference in monthly payments between a prime credit score,
    720, and a poor credit score, 580, can easily be $100 a month.

    Contrary to this fool’s advice, proper use of the credit system can greatly
    improve a person’s lifestyle. After all, we only live once and only for a
    short time. Failing to take advantage of the benefits received from credit
    well used is a fool’s errand.


  9. haggler88 says:

    +Ashkan Ahmadi
    Dave is telling her to sale the car she’s currently using that’s worth
    around 3k and use 1k of her money to pay it off, her parents still owe
    around 4k on it. Now she had 6k of her own money but needed to use 1k to
    pay off the rest of car she’s currently driving, now she has 5k. Use the 5k
    to buy a car, instead of putting down for a payment to a car dealer. She
    said she can afford 500 a month for a new car he tells her no, pay your
    self 500 a month for 10 months and she’ll have 5k. Sale the 5k car she
    bought with her savings and put that with the 5k she earned paying herself
    500 a month, that’s 10k. Then she can buy a new better car that will last
    her instead of a 500 dollar payment every month for 5 years and a 5000 down

  10. Q*bert says:

    5k is far too much to spend on a car you plan on owning for less than a
    year.that’s silly.a 5k car should be pretty nice and last 4-5 years with
    normal maintenance.cars are not built like junk 80’s cars anymore lol.

    i think people feel the need to spend so much to get something “reliable”
    is simply because the price of new is so far out there.don’t try and
    compare the price of new cars to the level of used ones on a scale of
    reliability to price.remember cars drop in value…….FAST! just like
    mobile homes.
    price falls off way before reliability does.

    side note; someone should ask Dave when the last time he bought a 5k car
    was.let alone sold it for the purchase price about a year latter with
    approx the avg of 10k more miles on it lol.remember guys,he doesn’t live in
    the same world most of us do.

  11. Bob Walter says:

    I shopped around and paid 3k for a loaded mercury mountaineer. Cheap price
    because it was private sale and some of the peripherals like cruise and cd
    don’t work. Blue book on it is 6k. So I will drive it for a year and then
    sell it for more than I paid for it. Is it perfect? No but it’s reliable
    and cheap insurance cheap taxes. And if it was wrecked tomorrow who cares..
    I own it outright.

  12. Guadalupe Treto says:

    She’s blonde

  13. Saddam Hussain says:

    Ford stands for Fixed Or Repaired Daily
    In Iraq my native country and most else where in the world. People don’t
    buy American for the same reason. I’m sorry it’s the truth. 

  14. Kurt Mason says:

    Dave doesn’t know what he’s talking about on cars. You do not need a 5,000
    car. You can get a heck of a nice running car for 1,500 or even less. And
    if you don’t drive that far from your house that’s all you’ll need. It’s
    propaganda telling people they need a 5,000 car or that when a car gets
    100,000 miles on it that you need another one. I’ve been driving my geo now
    for years and it’s got almost 300k on it and it’s still running strong. You
    just have to keep up on maintaince and repairs which you’ll have on every
    car. I paid $500 for my geo years ago and it’s been a good reliable car

  15. Brian Waller says:

    Sad part is and Dave himself is clueless to the fact that we have a cartel
    running the monetary system. If more than 25% of the population never
    bought a new car with a loan the monetary system will collapse. Because it
    can only sustain itself if people take out more loans to pay the interest
    on the original loans. It sounds confusing but once you understand how the
    federal reserve and fractional reserve banking works it will be easy.

    To make a long story short in order for inflation(more currency available
    which pushes prices higher) to be as low as possible you have to get more
    debt to the system or it will fail. If people stopped taking loans the
    entire circulation of currency will dry up.

  16. 666dynomax says:

    Ford fusion… theres your problem. wait’ll it drops a valve.

  17. Medic Jay says:

    Why is this stuff so hard for people to understand?

  18. William Smith says:

    If you can get a new car with zero interest and take care of it…..pay it
    off in four or five years and drive the wheels off it …..maybe it lasts
    ten years or twelve years……now you can go without a payment for six to
    eight years. Nothing wrong with that and you don’t have to worry about
    buying somebody else’s problems.

  19. SupraWes says:

    She doesn’t get it. You can buy a pretty good car for 5k

  20. Doggy Knows Style says:

    Car dealerships don’t sell cars, they sell debt! 

  21. Saddam Hussain says:

    Ford stands for Fixed Or Repaired Daily
    In Iraq my native country and most else where in the world. People don’t
    buy American for the same reason. I’m sorry it’s the truth. 

  22. jvolstad says:

    I’m driving a 2001 Honda Civic HX with 192K miles on the odometer. And it’s
    still going strong. 

  23. Rebecca Rider says:

    I don’t think she was dense – I think she was hearing what she WANTED to
    hear. I drive my two little ones around in a very safe, reliable used Mazda
    I got for 6K and when I hear people say you have to spend $25K for a safe
    car I know they are lying to themselves. Seriously, you can get a nice safe
    car for 5K very easily.

  24. BBJ TX says:

    Haha I guess that’s too much math for her to take and I see Dave didn’t
    have patient to her.

    But how come you can sell or trade in a 5K car 10 months later worth the
    same 5K, the car should have depreciation and will be worth less than 5K. 

  25. Christopher Jones says:

    I still remember the problems I had with brand new Fords not being built
    with integrity. I had a brand new 2000 Ford Focus, that was a lemon, so I
    got a 2000 Ford Ranger. This had problems too, but not as bad. I almost
    lost the engine in the Ranger because of an oil leak at 50,000 miles,
    though. I took better care than most people, at the dealership. I changed
    the oil every 2000 miles, and was easy with start ups. I now days, after
    listening to Dave, will not buy brand new, and will live richer. You have
    more life in you to spend on you, than the time you spend on the road. 

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