bbbokkk (November 30, 1999 at 12:00 am)

i was talking about buying a NEW $20k car OR buying a used $50k car and paying cash , i NEVER MENTIONED financing them and making payments..buying a new accord is a better deal financially than buying a used 50k luxury car no matter how much you are worth..in 5 years accord value loses 8-10k , luxury car loses 15-25k..it seems odd that they wont buy a NEW quality car for 20k , but they will buy a 50k USED car because 2 years ago somebody paid 60k for it NEW and feel like they got a great deal!!!

sithlord8890 (November 30, 1999 at 12:00 am)

One of the leading causes of debt is the obsession of status, which leads to payments on things you have no business "owning" to begin with.

vsop333 (November 30, 1999 at 12:00 am)

Atta girl. Do the payment math. That car has been MAKING you money. One time when were out to eat(debt free), I asked for a show of hands -who owns their car? All hands went up. I said, by "own" I mean that you don't have to answer to anyone for it. All hands went down.There is such a HUGE distinction between owning a car and being on the hook for it. We know people who cancelled vacations b/c of gas prices. If the price of gas really influences someone that way then something's wrong.

vsop333 (November 30, 1999 at 12:00 am)

No, NEW is the whole key. It's not about how much a billionaire spends on their car, it's about car payments. It's about new cars, of any price, being a GUARANTEED loss. Someone's net worth is relative. But making bad deals can apply to anyone. Heck, Buffet invested $1 Billion in one of the failed companies the other day. It's not about the total price, it's about how all Americans of all incomes share a habit of financing guaranteed losses.

vsop333 (November 30, 1999 at 12:00 am)

It's called the Dave Ramsey program. There should never be excess funds in the bank account while getting out of debt. Every dollar is assigned a use.

sistermitzi (November 30, 1999 at 12:00 am)

I've driven my present car for 7 years!(sounds awful but it's a great car)I'll continue to drive it as long as possible & will be paying cash for my next used car.All thanks to God & Dave's moneymaker. I have a hope now for a good retirement & my kids are learning true prosperity & my grandchildren will not know debt.I "studied" makes & models & bought a small used car with a big dependability rating & decent gas mileage.Now I have a pd for, dependable, affordable car that I've driven for years.

sistermitzi (November 30, 1999 at 12:00 am)

I bought the makeover book 2 years ago and today my house & car are paid for. Now building wealth. Thanks to Dave. The proofs in the pudding and this plan is helping thousands of families. I'll never buy a brand new car again. Also have some great beans & rice recipes ; )

bbbokkk (November 30, 1999 at 12:00 am)

dave needs to come up with some percent of salary or net worth instead of saying a NEW car..millionaires dont buy NEW cars , but they buy 2 year old cars that are so expensive new that even used they cost over 50k???..i would rather someone bought a brand new camry or accord for about 20k than to buy a used mercedes for 50k...i guess the used mercedes , lexus , or bmw looks way cooler than a brand new toyota or honda???

cgbaltar (November 30, 1999 at 12:00 am)

This Dave dude has a weird accent.

ajmisfit (November 30, 1999 at 12:00 am)

I wholeheartedly agree!! When my best friends and I all graduated college, it was immediately car shopping time. I bought and (with the help of the internet and manuals) restored a 1995 Honda Civic, that runs great. Sure, it might not compare with their flashy and shiny pieces of flair, but if they ever want to trade retirement, savings account(If they have them) and debt info, I might laugh last.