00:00The average car payment in America now is $499. That's suspiciously like $500. If you take $500 a month and invest it from age 30 to age 70, you'll have, would you believe it, you're going to have over $5 million. And you scratch your head and wonder why you're freaking broke.
00:17Dave Ramsey's right, but the situation has actually gotten so much worse because the average car payment is now almost $800 a month. So if you are just to invest $800 a month every single month over the next 30 years, you would have almost $1.3 million. And that's not including the extra cost of insurance, gas, maintenance, repairs. Instead, all you have to do is go and buy a used, reliable car that's about 10 years old and then drive it until the wheels fall off.
00:46Buy a car that you can afford to pay outright in cash and then invest the difference instead and get rich.
