Car of the stars and their prices

[MCompact]

Originally Posted by JeffKeryk
Dave Ramsey is for people who got into credit trouble; there are a lot of them.
This is why I believe personal finance should be taught in school.
No one should get outta grade school without a basic understanding of banking, credit cards, etc.
No one should get outta high school without an understanding of personal investments and time value of money.

Credit is a tool. Used corretly it can help you; used incorretly it can hurt you.
Education should help people in their lives; give kids a fighting chance.
It's not how much you make; it's what you do with it.


Agreed. For example, I love 0% financing- but I always pay the card or note off before the promotional term expires.

 

[GZRider]

If he has the funds for a Rouche F150 it is probably a smarter purchase then most of luxury land yachts and sports cars in the $60-100k range. He can drive it for 6 years and 30-60,000 miles and still see $45-60k+ for that truck if he wants to sell it. It is a limited production model in a desirable color combo and he likely owns it right thanks to incentive financing rates. Whereas an MB S class or supercharged Land Rover Range Rover both sticker well over $100k new but after 6 years and 60k miles are more like $25,000-32,000 vehicles on a private sale.

 

[donnyj08]

Originally Posted by jeepman3071
Originally Posted by Ws6
Originally Posted by wallyuwl
I wonder if Dave Ramsey paid cash for that $80k truck, as he said everyone should do for everything (including houses)? It is easy to not use credit when you are loaded, like he is.

Dave Ramsey makes money by telling people things. Not by actually doing them. While I admire his ingenuity in creating this job for himself, and don't wish him anything but the best, I don't look up to people who have "do nothing" jobs. He's like a pastor, basically, in essence. He makes people feel good and they pay him for t hat service. He just worked the deity aspect out of the picture is all.


Exactly.

Plus anyone with financial sense knows spending that much on a depreciating asset is not the smartest thing in the world.


When you can spend $80 million in cash on a business expansion you can afford to buy any car you want. Dave Ramsey buying that truck is like someone who makes 60k a year stopping at McDonald's for a #1 and a large coke. It has almost no effect on his worth because of the assets he owns that produce Income.

People love to hate on Ramsey because he cornered the market on "good" financial advice for the masses.

Most of his haters aren't as wealthy as him either. Robert kiyosaki is one that likes to dog on Ramsey for not using debt. Kiyosaki's total net worth is estimated at $80million. Dave Ramsey just Dropped $80million in CASH on a new headquarters.

Sure Leveraging is fine and it works, but it's not impossible to be rich without high leverage.

 

[jimbrewer]

Originally Posted by PimTac
Paying cash if you have the means is a smart decision.



Why? The great financial guru can't clear 4% per year in his financial assets?

 

[Wolf359]

Originally Posted by jimbrewer
Originally Posted by PimTac
Paying cash if you have the means is a smart decision.



Why? The great financial guru can't clear 4% per year in his financial assets?


Leverage is tricky. You can be over leveraged too. Paying cash is simpler too, less paperwork.

 

[JeffKeryk]

Originally Posted by Wolf359
Originally Posted by jimbrewer
Originally Posted by PimTac
Paying cash if you have the means is a smart decision.



Why? The great financial guru can't clear 4% per year in his financial assets?


Leverage is tricky. You can be over leveraged too. Paying cash is simpler too, less paperwork.

"All generalizations are dangerous, even this one."
Alexandre Dumas

 

[Ws6]

Man, Ron Jeremy shames them all. His networth is estimated at $6m, and look how frugal his whips!

 

[alarmguy]

Originally Posted by wallyuwl
I wonder if Dave Ramsey paid cash for that $80k truck, as he said everyone should do for everything (including houses)? It is easy to not use credit when you are loaded, like he is.


Paying cash is the reason he is loaded.
He is self taught, self made from the ashes of debit.

Terrific speaker and the concept is simple as can be. Dont borrow money for things you can not buy.
I mean, what a concept to get rich off of.
Stop giving your money to strangers because you are too immature to save your own money for things you would like out of life.

Most of us are like rats, we will eat anything you give us no matter the price for instant gratification. So we go out and buy stuff by borrowing money from other people and companies that get rich off of us by lending us the money.

Be your own bank and you will get rich too.

Here is a simple way to understand this.
Take out a 30 year loan to buy a home, lets say 350,000 is the amount of money you borrow. When you are done paying off the loan, you will have paid back $822,173.49

Pretty simple huh? Close to a half million dollars in interest, now just imagine if we were all mature enough to pay that loan off as fast as possible ahead of time, instead of buying new or almost new cars, trucks, boats and whatever adding more debit and interest payments.
Not only that, imagine if that half million in interest was making money in safe investments.

Bottom line, if you are told you can afford it/afford the payments, you cant afford it because you are borrowing money from someone else.

 

[wag123]

Originally Posted by Ws6
Man, Ron Jeremy shames them all. His networth is estimated at $6m, and look how frugal his whips!

The people who know Ron say that he is the cheapest man they know, not tight or frugal, CHEAP! They all joke about it. For example, to this day the luggage he uses when he travels is a plastic garbage bag, and he goes out of his way for a free meal.

 

[4WD]

Don't take many flights to make your bags garbage

I got a nice Tumi as a yearly safety award … after 2 round trips I decided it would be a road trip case.

 

[Ws6]

Originally Posted by wag123
Originally Posted by Ws6
Man, Ron Jeremy shames them all. His networth is estimated at $6m, and look how frugal his whips!

The people who know Ron say that he is the cheapest man they know, not tight or frugal, CHEAP! They all joke about it. For example, to this day the luggage he uses when he travels is a plastic garbage bag, and he goes out of his way for a free meal.


True, but he's worth $6M, and that's what counts, in true BITOG'r fashion, rofl!

 

[porterdog]

Originally Posted by WylieCoyote
... And Shaq.....Ford or Caddy?


I hear he has a couple of these:


https://www.sportchassis.com/

...because they fit!