Amazing Video (must See)

[nycitaliano9]

...amazing clip for those of you like me wanting to get a new car.

check it out and put things into perspective!!!!

http://www.daveramsey.com/etc/lms/drive_free/player.cfm

Rule Of 72

http://www.primerica.com/public/rule_of_72.html

 

[DFL914]

i loved the back round music. lol

 

[tosiek]

All he did was go through basic concepts of investing. Nice heads up but it always doesn't work that nicely otherwise used car dealerships/sellers would be millionairs in the first month of working. The sales market for cars isn't as good as whats needed to make that cash.

All your doing is saving yourself a monthly payment with interest but are driving year or two year old cars which you'll have a hard time selling later on. Leasing a year old car from a dealership helps you not lose that 5-15k $ you usually lose the first year the cars on the road and gives you an option to upgrade the car for what the dealer cost of the car is + whatever the price difference is. For people that don't do alot of driving its one of the best ways to go.

<3 bank auctions and dealer auctions if you put heavy miles on your cars. Also buying 1-2 year old low milage cars is the better way to go if your doing 15-20k miles a year. Just takes some time to find them at a good price.

The Funniest thing i heard was when my cousin went to buy his brand new Honda. The dealer, after finalizing the deal with my cousin and setting up payment and everything, tells my cousin right before he's about to drive off the parking lot "Get ready to lose $5k what the cars worth the moment your tires hit the street!" "Congratulations!"

 

[TimberTDI]

I was thinking the same thing. 12% is a little liberal. Plus, where's does the maintenance cost factor in? There's more on an $11,000 car than a new one.

I do agree that people buy too much car and get rid of them too soon.

Steven

 

[tosiek]

Your really only stuck with two options for cars. Buy a used one (1-2 years with low milage) if you do alot of miles. And if you don't drive much go with the dealer leasing option and find a place with super low interest, which lets you switch out cars every 3-4 years with little money put in if you keep the car in pristine condition.

You can always find good deals on used cars if you spend your time looking. The first car i bought i got at a Dealer auction for $14,000. It was a year old Jeep grand cherokee limited fully loaded with 12,000 miles all highway. KBB for the car at the time i bought it was ~$35k+ and i coulda flipped it quick for 30k in a week if i wanted. Spent about 3 months looking around and going to different dealer/bank auctions before i found it.

 

[lfsmarineguy]

These guys make their money from you buying their books and other items. If it worked so well he wouldn't be telling everyone else how to do it he would just do it himself.

 

[nycitaliano9]

Maybe The Video Is Not 100% Right But the 12% From Mutual Funds Is Correct If you look at any track Record for 20 yrs You will Find That you would have averaged 12% or more if you left you money in for 20 yrs or more.

 

[tosiek]

heh thats another thing. If it worked so well he wouldn't have a post telling millions of people about it =0)

 

[nycitaliano9]

The Guy Teaching People About it.
Does not Mean he is doing it for the money Most of the stuff he shows you is true i know for a fact since i used to work in the Finacial Services Field.

Most People Grow up learning how to be middle Class or Poor But we all can be rich or skinny or whatever

Most of know how or can learn

We make are Choices some people take risk some dont

If your Living Pay check to pay check learn how to invest in Mutual funds

Dollar Cost averaging Is the best way to go

If your scared and dont want to take risk Keep money in savings Account and stay Broke.

 

[Liz]

Taxes =$

straight purchase or IRA

time limit? the money doesn't show up as quick are you think it can and the car is sold to the next highest bidder.

P.S. the music is wack.:type: