Car
Car Ownership
Topic
N/A
Accuracy
Recent Predictions
Incorrect: 0
Pending: 16
Unrated: 0
Prediction
Author
Predicted at
Status
Video
Selling a vehicle with positive equity (4Runner) is advised for financial health, as it's a rare opportunity to leverage an asset when in debt.
"Get rid of the 4Runner. You're in a blessed position. Rare on this show where you have an equity pos..."
Oct 20, 2025
Correct
A strategy to sell the current car, borrow $10,000 to cover the negative equity, and purchase a used car for around $20,000, reducing the overall car debt significantly.
"I might borrow 10. I would sell it. borrow $10,000 to cover the gap once we make some more progress ..."
Oct 15, 2025
Pending
A significant portion of Americans (20%) now have monthly car payments exceeding $1,000.
"more and more Americans now have a $1,000 monthly car payment"
Jan 28, 2024
Pending
The total monthly cost of car ownership, including payments, gas, insurance, and maintenance, can reach approximately $3,000.
"it's not just a $1,000 a month car payment you got to pay now you're paying $3,000 a month just to k..."
Jan 28, 2024
Pending
It is suggested to use $8,000 for a cash purchase of a used car instead of financing a more expensive new one.
"if you were going to put $8,000 down to go out and finance this nice car take the 8 Grand go out and..."
Jan 28, 2024
Pending
Car advertising promotes lifestyle benefits, but the true cost includes sacrificing future wealth. The speaker emphasizes that the financial cost of a car extends beyond monthly payments to potential lost future wealth.
"Our company spent $35 billion a year to sell you the idea that if you drive a nice car you're going ..."
Jan 21, 2024
Pending
The speaker encourages driving nice cars but only after becoming financially able to afford them without compromising future freedom. The question is posed whether a $400-$500/month car payment is truly necessary.
"I want you to drive a super car I want want you to drive that luxury car I want you to drive somethi..."
Jan 21, 2024
Pending
Recommends purchasing a used, reliable car with cash to eliminate monthly payments, freeing up cash flow for wealth building.
"what I'd rather have you do is go out and buy a used but good workking condition car with cash now w..."
Jan 21, 2024
Pending
Leasing cars is discouraged unless one is a millionaire. Financing cars is also deemed financially unwise because it involves paying interest on a depreciating asset, resulting in a double loss (depreciation and interest).
"these things almost never the smart financial decision so leasing should be completely out of the qu..."
Jan 21, 2024
Pending
Car ownership is a 'triple threat' due to interest payments, ongoing maintenance costs, and depreciation in value.
"but the interesting thing about this car payment is your car is a triple threat you are paying inter..."
Jan 21, 2024
Pending
The average monthly car payment (new or leased) is $487-$554, translating to a car value of approximately $27,000.
"I want to start by going over the real cost of your car so the average new car payment in America is..."
Jan 21, 2024
Pending
Cars are liabilities that lose value over time and cost money (interest, maintenance), unlike assets like stocks or houses which generally appreciate.
"Cars are liabilities what that means is the longer you own it and the more you drive it the less you..."
Jan 21, 2024
Pending
The speaker encourages driving desirable cars but emphasizes affording them first through wealth accumulation, questioning the necessity of a $400-$500 monthly car payment.
"I want you to drive a super car I want want you to drive that luxury car I want you to drive somethi..."
Jan 21, 2024
Pending
Instead of financing, buying a reliable used car with cash frees up monthly payments and provides extra capital for wealth building.
"what I'd rather have you do is go out and buy a used but good workking condition car with cash now w..."
Jan 21, 2024
Pending
Leasing cars is strongly discouraged unless one is a millionaire. Financing is also deemed financially unsound due to paying interest on a depreciating asset, resulting in a double financial loss.
"these things almost never the smart financial decision so leasing should be completely out of the qu..."
Jan 21, 2024
Pending
A significant reason for American financial struggles is high car expenses, with many paying over $1,000 monthly for car payments alone, plus gas, insurance, and maintenance, potentially reaching $3,000 monthly. The advice is to buy a used car with cash to eliminate these payments.
"the reason why so many Americans are broke if you had to just pick one item it's because of how much..."
Jan 7, 2024
Pending
2023 is not the year to finance a new truck; it's a year to focus on financial education and preparedness.
"2023 is not the year for you to go out and finance a new truck 2023 is the year for you to get finan..."
Oct 27, 2023
Pending