Business Insights
  • Home
  • Crypto
  • Finance Expert
  • Business
  • Invest News
  • Investing
  • Trading
  • Forex
  • Videos
  • Economy
  • Tech
  • Contact

Archives

  • August 2025
  • July 2025
  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • August 2023
  • January 2023
  • December 2021
  • July 2021
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019

Categories

  • Business
  • Crypto
  • Economy
  • Finance Expert
  • Forex
  • Invest News
  • Investing
  • Tech
  • Trading
  • Uncategorized
  • Videos
Subscribe
Money Visa
Money Visa
  • Home
  • Crypto
  • Finance Expert
  • Business
  • Invest News
  • Investing
  • Trading
  • Forex
  • Videos
  • Economy
  • Tech
  • Contact
Dave Ramsey sounds alarm for Americans on Medicare
  • Trading

Dave Ramsey warns Americans about buying a car

  • July 30, 2025
  • Roubens Andy King
Total
0
Shares
0
0
0
Total
0
Shares
Share 0
Tweet 0
Pin it 0

During a recent episode of The Ramsey Show, personal finance author and radio host Dave Ramsey tackled a question from a caller about purchasing a new car, offering insights and a cautionary message to listeners weighing the decision.

Ramsey frequently challenges the widespread belief in a “perfect” vehicle, urging buyers to let go of the fantasy. He believes a car should meet real-life demands, not an idealized version of them.

💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter💰💵

When it comes to choosing a vehicle, Ramsey has encouraged people to begin with lifestyle questions: whether a car or truck is better suited, how many passengers they usually drive, fuel efficiency needs, and cargo space. 

He said that these factors help clarify which models are genuinely useful rather than simply desirable.

Ramsey warns that no vehicle satisfies every personal preference. Recognizing the difference between necessities and luxuries — and thinking ahead about long-term use — allows buyers to make smarter choices.

Ramsey’s advice consistently emphasizes budget discipline. He views paying interest as a financial misstep and firmly recommends buying a dependable used car with cash over financing a brand-new model. Doing so preserves financial stability and prevents unnecessary debt.

Related: Dave Ramsey sends major message to Americans on IRAs, Roth IRAs

He also suggests taking time with the search for a car. Ramsey urges buyers to investigate both online listings and physical dealerships, reminding them that rushing into the first decent-looking deal could mean missing out on something better.

Before any of that, though, Ramsey stresses the importance of deciding whether the current vehicle truly needs replacing. 

Many people make the leap based on impulse rather than practical need, and he suggests that a realistic evaluation of the car’s condition should come first.

Ramsey also delivers a warning about common car-buying mistakes. 

While he acknowledges the emotional draw of a shiny new ride, he reminds people that poor financial decisions in this area can have long-lasting consequences — unless they take a deliberate, informed approach that turns the odds in their favor.

Dave Ramsey speaks with TheStreet about personal finance issues. The Ramsey Show host has a warning about spending money on a new car.

Image source: TheStreet

Dave Ramsey has blunt words about car values

In an episode of The Ramsey Show, a 24-year-old caller identifying himself as Micah asked Ramsey about buying a car.

“I'm currently debt-free,” Micah said. “I make $80,000 a year. I am currently maxing out my 401(k) and IRA. I want to buy a car that costs $30,000. However, I don't want to get rid of my current car. It would just be a play car.”

“It's a sports car,” he continued. “I have $30,000 in cash that I'm prepared to pay for this car. I'm not sure if it's better to put this in a different sort of investment portfolio or if it would be OK to splurge and buy this car.”

Ramsey then ascertained that the caller's current vehicle is worth $13,000 and the car he is interested in buying is a 2019 Nissan 370Z.

More on cars:

  • Dave Ramsey has blunt words for Americans buying a car
  • Alphabet's Waymo flexes on Tesla Robotaxi with latest update
  • Tesla faces its most serious court battle in years

“Here's the thing,” Ramsey said. “I love cars, I drove here today in my Raptor. I love big engines. I like things that make noise. I'm redneck. I want a loud muffler, all that.” 

“But the stupid things go down in value, like a rock,” he emphasized. “That's where Chevy got that. ‘Like a rock.' And that includes that sweet Nissan you're talking about. And that includes my sweet Raptor.” 

“They go down in value.”

Related: Jean Chatzky sends strong message on buying vs. leasing a car

Dave Ramsey explains wealth and car buying

Ramsey offered a word of advice about building wealth and how it often relates to car ownership.

“If you're going to build wealth, you have to keep as small an amount as possible going into things that go down in value,” he said. “So consequently, we find millionaires driving very conservative used cars until they've got substantial money.” 

The Ramsey Show host explained that one of the guidelines he suggests people use is to not have more than half their annual income tied up in vehicles. 

“So adding up all of your little toys with motors and wheels, does it add up to more than half your annual income?” he asked. “Because if it does, you've probably got too much in things going down in value while you're trying to build wealth.” 

Ramsey noted that with those vehicles, Micah would have about $45,000 in two cars.

“You make $80,000 and so you're over half,” Ramsey said. “So, sweet car. And you've got the cash. You can do it.”

“I mean, you can afford it obviously, but the warning is that you're putting money in the wrong places if you want to be wealthy.”

Related: Dave Ramsey has blunt words for Americans buying a car

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Roubens Andy King

Previous Article
All of your international packages are about to get more expensive
  • Tech

All of your international packages are about to get more expensive

  • July 30, 2025
  • Roubens Andy King
Read More
Next Article
Equities retreat as Powell dampens Fed Sept cut hopes
  • Investing

Equities retreat as Powell dampens Fed Sept cut hopes

  • July 30, 2025
  • Roubens Andy King
Read More
You May Also Like
National furniture brand faces Chapter 7 bankruptcy, liquidation
Read More
  • Trading

National furniture brand faces Chapter 7 bankruptcy, liquidation

  • Roubens Andy King
  • August 1, 2025
IonQ makes surprising move to drive quantum computing adoption
Read More
  • Trading

IonQ makes surprising move to drive quantum computing adoption

  • Roubens Andy King
  • August 1, 2025
Walmart makes bold move to reach sports fans
Read More
  • Trading

Walmart makes bold move to reach sports fans

  • Roubens Andy King
  • August 1, 2025
Walgreens quietly makes a harsh store closure decision
Read More
  • Trading

Walgreens quietly makes a harsh store closure decision

  • Roubens Andy King
  • August 1, 2025
Skechers is selling customer-favorite Foamies Sandals up to 55% off, and they're selling out fast
Read More
  • Trading

Skechers is selling customer-favorite Foamies Sandals up to 55% off, and they're selling out fast

  • Roubens Andy King
  • August 1, 2025
Walmart is selling a set of 'elegant' 6 blackout curtains for , and shoppers say 'you won't be disappointed'
Read More
  • Trading

Walmart is selling a set of 'elegant' $176 blackout curtains for $44, and shoppers say 'you won't be disappointed'

  • Roubens Andy King
  • August 1, 2025
Amazon is selling a 'buttery-soft' 9 reversible cooling queen comforter that feels 'light and airy' for only
Read More
  • Trading

Amazon is selling a 'buttery-soft' $109 reversible cooling queen comforter that feels 'light and airy' for only $55

  • Roubens Andy King
  • August 1, 2025
Amazon is selling a 'quality' 0 security camera 2-pack for , and shoppers say it's an 'excellent purchase'
Read More
  • Trading

Amazon is selling a 'quality' $190 security camera 2-pack for $90, and shoppers say it's an 'excellent purchase'

  • Roubens Andy King
  • August 1, 2025

Recent Posts

  • Spotify won’t annoy you with its ‘Create’ button anymore
  • Indivior (INDV) Extends Jump on 3rd Day with 16% Gain
  • Ethereum Elite Shift: ETH Foundation Loses Top‑3 Spot As Corporate Buyers Surge Ahead
  • Bitcoin Advanced Sentiment Index Reaches Bearish Levels: Futures Traders Show Caution
  • Trump steps up attacks on Fed’s independence amid interest rates row | Business
Featured Posts
  • Spotify won’t annoy you with its ‘Create’ button anymore 1
    Spotify won’t annoy you with its ‘Create’ button anymore
    • August 1, 2025
  • Indivior (INDV) Extends Jump on 3rd Day with 16% Gain 2
    Indivior (INDV) Extends Jump on 3rd Day with 16% Gain
    • August 1, 2025
  • Ethereum Elite Shift: ETH Foundation Loses Top‑3 Spot As Corporate Buyers Surge Ahead 3
    Ethereum Elite Shift: ETH Foundation Loses Top‑3 Spot As Corporate Buyers Surge Ahead
    • August 1, 2025
  • Bitcoin Advanced Sentiment Index Reaches Bearish Levels: Futures Traders Show Caution 4
    Bitcoin Advanced Sentiment Index Reaches Bearish Levels: Futures Traders Show Caution
    • August 1, 2025
  • Trump steps up attacks on Fed’s independence amid interest rates row | Business 5
    Trump steps up attacks on Fed’s independence amid interest rates row | Business
    • August 1, 2025
Recent Posts
  • Zinc Price Update: H1 2025 in Review
    Zinc Price Update: H1 2025 in Review
    • August 1, 2025
  • Dow drops 600 points, S&P 500, Nasdaq sink after weak jobs report, Trump’s tariff redux
    Dow drops 600 points, S&P 500, Nasdaq sink after weak jobs report, Trump’s tariff redux
    • August 1, 2025
  • National furniture brand faces Chapter 7 bankruptcy, liquidation
    National furniture brand faces Chapter 7 bankruptcy, liquidation
    • August 1, 2025
Categories
  • Business (1,299)
  • Crypto (694)
  • Economy (104)
  • Finance Expert (1,154)
  • Forex (695)
  • Invest News (1,582)
  • Investing (882)
  • Tech (1,285)
  • Trading (1,268)
  • Uncategorized (1)
  • Videos (775)

Subscribe

Subscribe now to our newsletter

Money Visa
  • Privacy Policy
  • DMCA
  • Terms of Use
Money & Invest Advices

Input your search keywords and press Enter.