“Your Dad Has Been Brainwashed (I’m Sure He’s A Nice Man)”

Just finance a newer used or new car with a good brand, cash for car is stupid, low interest ( some can get under 3% since the market is slow) is wise

Take a shot every time George says the word margin.

Nice

To Ken's point, if you are using your classic car as your daily driver, it's definitely not going up in value. 🤦😆

Buy a car for cash. I come from a family of car dealers. They don't call it a stealership for nothing.

buy private party

Ken makes a decent point, but its a longer discussion. I currently own 9 classic cars, and have owned dozens over the years. More than half the time, they end up being worth way more than I invested in them. The caveat is that if you let it become a project car, start rebuilding things, repainting it, redo the interior, it is very easy to spend more money than the car's value. Project cars are a very slippery slope. Much moreso than a project house or a fixer-upper you're trying to flip. But if you buy a decent old car to start, and only put money into it that it actually requires, you can most definitely come out ahead when you go to sell it.

Just keep buying gas for the car you have, buying a different car to get 5mpg more isn't smart, at the end of the year you would have spent a lot more out of pocket.

I saw a guy in a buying a car video said to say I want to focus on the out the door price. I think I like that

Who tells their kid .get comfortable making payments, pay more money in interest bc of a loan instead of buying a vehicle outright?? Ma'am u need to watch the CarEdge Channel😅

Dont take this channels boomer relationship advice.
They're great at getting people out of debt. However, I disagree with their ideas of combining finances.
Not to mention their double standards when it comes to men vs women callers.

And don't forget the price of insurance and roadside assistance for older cars.
It's amazing how much insurance differs between models of car AND insurance companies.
Age and driving record is also a factor.

Ken’s comments at the end of this episode is total BS. This young lady does NOT NEED a “ classic “ car. If they are driven daily, their value plummets. She needs reliable daily transportation. Shut up Ken you blew this one BAD

George- get your cavity filled though, ok?

Classic cars can be great... I've had 3 really nice daily drivers and all went up in value while I owned them so they basically cost me nothing to own and drive. The key is finding someone who will work on them as many mechanics don't want to deal with the challenges of a 40-60 year old car... especially getting parts. It can be a real headache unless you are a gear head and do it yourself.

20 and 30 year olds living in their parents basement and posing the idea of buying a classic car is wild.

"What payment are you looking for?"
Zero
"We don't have free cars"
But you do have out the door prices.

I'm glad you made this video it reminds me of my transformation from a nobody to good home, $34k monthly and a good daughter full of love

Lot of stories about car salesman losing sales because they refused to acept people paying cash and not financing, defintevely brainwashed.

Do you have a video on Christy Vann?

Exactly correct! Pay cash for the car or get used to driving the beater.

Boomer advice is the worst advice.

They key is having a garage which means a house before Ken's point which is a great point.

Don't see how it's like asking a dentist if you should get your cavity filled. Sure don't do it. Then your $300 problem turns into a $3000 problem or you lose the tooth. George is an idiot

The bobble head dolls are so adorable!!!!!!🥰

I suggest a 2005 Toyota Echo,$3000 cash no issues 37 MPG

Investments are the roots of financial security; the deeper they grow, the stronger your future will be."

That bit about classic cars at the end is the first advice I’ve heard on this show that I’ve immediately hated

Im not sure what Ken is trying to do at the end of this call besides get himself fired.

If you have cavities, get them fixed please.

I'm favoured, $22K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,,

it's like asking a cattle rancher if you should go vegan

You guys should also have told her to think about what she needs the car to do (does she need to haul, does she need to carry people, does she just need to go to work) and then to get a Consumer Reports car guide. She needs to look at cars of the type she is looking for and then choose the most reliable 2 models and go look for one of them. Cars that break down all the time cost a FORTUNE. Better to spend a little more up front and not spend $2-$3 thousand a couple times a year for repairs (and rental while the stupid thing is in the shop). Also, she needs to look at carrying costs such as insurance and tires.

Hey ken, guess what big farmer does it every single day to hundreds of thousands of people in the United States of America and some around the world. Don't group all drugs in with bad harmful illegal drugs. But there are many drugs that big farmer proves of that are harmful to the people as well. So it's not all cut and dry details and situations matter

While a classic car might go up in value, people usually forget to factor in the ongoing net costs of owning it. The “overhead” includes the costs of insurance, registration, maintenance, storage, etc.
Add to that the opportunity cost for the car vs if you had invested in mutual funds or a cd.
Enjoy that classic car because it’s costing you more than you might expect.

. As a foreign person, i am always baffled by the :
Brand new car ,
Huge house ,
Big ego ,
Of the hugely indebted american Society 😊

Wait should we not get cavity filled?

Its not just the interest but you have to pay through the nose for car insurance until its paid off.

If you can get 0.9% APY and keep your cash in a high-yield savings account a 4.3%, yes do it. It would technically save you hundreds of dollars each year because you'd collect the difference. But don't buy a car you can't afford.

Pay cash for the vehicle

We purchased a new car, traded in our old one, put some cash down, and had the rest on a loan. The reason? It was interesting free. Never pay interest, on a credit card, or anything else.

Nah! Don't buy a "classic" car!

I pretty much did the same, my older car got better gas mileage than my 'newer' car. looks nicer, but I'd almost rather have that cash back. newer suv's get horrible gas mileage imo, the advertised mpg is not reality based, it's based on old standards and hypotheticals

NEVER tell a dealer you’re paying cash. Wait till they have all the paperwork and price out then tell them

Sounds like dads trying to build her credit the hard way. Get a rewards credit card, put some bills on auto pay. My credit went from none to over 800 after a few years. I got a home loan in two hours.

In 2018 I bought a 78 pickup from California for 3500, drove it home to Toronto and used it to pickup stuff from home depot for my house reno. Insurance was like $100 a year, its terrible on fuel, so only suitable for around town stuff.

In 2022, someone offered me $16k for it.

Yes, cars can be appreciating assets... but they are very, very few. Example in recent history (30ish years):
993 Porsche 911s
GMC Syclone/Typhoon
MKIV Toyota Supra
NAS Land Rover Defender 90

There are select others as well. But... unless you are DEEP in the car market where you can recognize trends and see patterns to predict what's next, this is not something you want to attempt.

Is your Dad actually consideing your safety and concern about breaking down? Is Kamel opposed to fixing a cavity? Stupid analogy.

I bought a 30 year old truck with 60k original miles on it. It was in the shop every month for something. There were parts I never heard of that went bad with age.

I own a few classic cars. I'm a mechanic and I love fixing them up. Everyone has gone up in value by a combination of improvements through work I've done to them and just regular appreciation. As an example I have a 1970 Dodge Challenger R/T. I bought it for $24k in 2017, did about $5k worth of work and it currently appraises for $44k. Now there's probably $6 or $7k of my labor in there too, but Ken is 100% right. I drive the Challenger a lot, during nice weather.