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I highly recommend you buy your car in cash.

Argues against car loans for anyone not earning multiple six figures, calling a nice car a depreciating asset bought mainly for appearances, and recommends paying cash or saving until you can.

Watch on YouTube I highly recommend you buy your car in cash.

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Short
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MoreMozi Shorts
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Full transcript on this page

Key takeaways

  • If you have a job that you're not making multiple six figures a year, I don't understand the logic around making a huge payment for an asset that will go down in value and pay higher interest on that loan than most other loans.

Chapters

  1. 0:00
    Abschnitt 1 How much is your car payment?

Full transcript

Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.

1 segments

0:00How much is your car payment? >> 1,400. >> How much is your car payment? >> 403. >> What's your car payment? [music] >> 1,100. >> How much is a car payment? >> 1,400. That's insane. If you have a job that you're not making multiple six figures a year, I don't understand the logic around making a huge payment for an asset that will go down in value and pay higher interest on that loan than most other loans. Literally, the only reason to have a nice car is for appearances. Buy a car that you can afford in cash. And if you can't afford a car in cash, save up money to afford a car in cash. You already have insurance and gas.