Here’s Why Rich People Buy Cheap Cars and Broke People Buy Luxury Cars


rev up your engine today I’m gonna talk
about why a cheaper car is often a better thing to have than an expensive
car I am the master of owning cheap cars I’ve been driving over 50 years and
those 50 years from my own personal cars I have spent less than $7,500 total of
all the cars that I’ve owned and drove myself now I’m not including my wife’s
car like this Lexus hey I bought that used for $3,000 with only 60,000 miles
on it so even there I’m careful with my money now I do have to admit most of
them were Toyotas now I did start out with an Opel that I paid five hundred
and fifty bucks for then I got a Ford Maverick that had paid 500 bucks for
then I went wild my god in 1981 Toyota Corolla sr5 hatchback which I had to pay
$5,000 for but that one lasted me almost 30 years so you know I’m happy with that
then I got my venerable solid car for about 350 bucks and it’s still running
fine now some people think it’s just a prop but watch starch every time AC still blows ice
called now I mainly buy cheaper cars cuz I’m cheap myself I don’t like
wasting on cars but there’s other reasons you can get cheap cars too some
people get bored with driving a car too long they hate me cuz I don’t but you
can keep buying different chute cars you buy a really nice used car or brand new
car the depreciation on those the first few
years of ownership is insane but a cheap car it’s already depreciated I don’t
have to worry about that and the main thing is you want to get it where
there’s still got a bunch of the lifespan left but you’re not paying much
for it no I don’t like driving Junkers around for example when I bought this
thing for like 350 bucks with text the front bumper it was jolly she had a dent
in the fender so I did have to spend 800 bucks with my paint body I fixed the
founder and to paint the car all one color even with that 800 bucks that
still kept me under 7,500 bucks for all the cars I’ve ever bought now let’s say
you’re not as cheap as me and you’re gonna buy a new car even then you’re
better off buying a cheaper one I had a customer buy bottom design Lexus and he
bought body kits bolted stuff on then he took to a paint guy to paint it to max
of paint he had a real swanky one for a lot less than if you would have bought it
at the dealer that way same thing here this is a 2002 but it’s got modern halo
headlights on it because I bought them from China and put them on I’ve even had
some extreme costumers if they wanted leather seats but the leather ones cost
so much more they looked around if salvage yards they bought leather seats
that were in good shape and bolted them in their car instead of paying
outrageous price the dealer wanted for them and of course one big advantage of a cheap cars they come pre scratched and pre dented there’s nothing worse than
buying something new and then you get the first scratch or a dent you know
what’s gonna happen in our society people are slobs they’re gonna be in a
parking lot they’re gonna open the door even worse they’re gonna bump into it
with her bumper and just take off you got a cheap car you’re not gonna
worry that much about it you worry less about your insurance costs you buy a car
to cost 50 60 grand brand-new the insurance is high cuz if it gets stolen
they gotta pay for it you buy a car that’s a cheap car you don’t have to
worry about high insurance rates I realized
an expensive car you got try to find the perfect car for all your knees a lot of
times there is no perfect vehicle take for example hey you want to haul
some stuff around maybe you want a pickup truck but you don’t want to drive
it around all the time well buy a cheap one you can use it when you need to haul
stuff like my son does outside of Boston I gave my Toyota Tacoma it was all rusty
but he’s still driving it years and years later you might not want to use it
all the time but if you’re buying cheap cars and buy more than one and maybe you
need to make a commute to work you can buy an old Toyota Corolla for a Honda
Civic and use that for you’re just not around car you no need to spend a small
fortune trying to figure out the right vehicle and then find out one of them
does not fit everything you want and of course one big advantage of cheaper cars
if you pick the right ones the parts are cheaper because when you
get older aftermarket will start making parts for
instead of you got a car that’s a year or two old you got to buy an expensive part you
can get parts from all over the place for a fraction of what the new ones cost
no here of course you want to stick to common cars that are very popular in
your area then you can get parts for I’m not a Volkswagen fan I personally can’t
stay into things anymore but in Europe they’re real big and you can get parts
water and people can fix them so buying a cheap used Volkswagens good idea in
Europe even though I’m not by your very good idea in the United States of course
another advantage of a cheaper car is parking is easy you’re not worried I
have had many customers some of them we’re friends I got to dinner with them
they driving her BMW and they’d have to park away from people but they want to
park where they can still see the car from the restaurant window and they were
always looking out the car to make sure nobody was running into it you got a
cheap car with things in it you’re not gonna be worrying about that stuff and
of course the biggest advantage of buying a cheaper car is you don’t have
any monthly payments I’ve never had monthly payments except on my house hey
after about 15 years I paid all that off anyways it sound like monthly payments
get out like monthly payments get a cheaper car take my case fifty years of
driving cars I spent less than seventy five hundred bucks on all of them if you
had a monthly payment of 300 at same period of time you would have spent one
hundred and eighty thousand dollars different than 7,500 you can certainly
get where I’m coming from here the savings can be immense realize most cars
you buy are the worst investment you’ll ever make you buy it and the value just
goes down not like a house I paid 80 grand for this house now
the Lots were more than half a million dollars you’re not necessarily go whose
money buy the house but you’re certainly gonna lose money buying most normal cars
that people drive around in connect your cheap car look nice you can always get a
fancy paint job on it make it look nice and shiny put on fancy rims whatever you
want to add on and of course if you’re like me and you’re cheap in when you do
that go to a salvage yard there’s plenty of the fancy cars already wrecked you
can take the wheels off of them stuff like that you don’t need to buy brand
new when cars get older there’s all kinds of parts available for them that
don’t cost a fortune even if they’re not brand new parts hey wheels are wheels as
long as they’re not bent they’re gonna work perfectly fine and of course you
get a good cheaper car it’s withstood the test of time like the Celica they’re
still running good that meant they were well built let’s say you buy a brand-new
expensive car that’s got a new design engine or transmission the brakes found
later you’re screwed you’re gonna have to pay a fortune these things are tried
and trued the ones that broke aren’t on the road anymore
you can get one that’s already been casted out that’s the main reason I tell
people never buy a new model of anything out there when it’s a radical engine or
transmission change body styles who really cares that doesn’t matter but
engines the transmissions you want ones that have been proven to last a long
time so now you know why buying a cheaper car can be a very wise decision,
so if you never want to miss another one of my new car repair videos, remember
to ring that Bell

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