WebDave Ramsey Auto Advice. I have to disagree with Ramsey's advice to buy used cars for around $3000 cash. Correct me if this is not still his current advice. Prior to even knowing about Ramsey, I used to have a strategy of buying used US brand cars for around that price and with around 100,000 miles, and I would get another 100,000 miles out of ... WebFeb 6, 2024 · Dave’s quick answer: It shouldn’t be more than half of his annual salary. The long answer? On his website, Dave Ramsey explains that the total value of all your vehicles shouldn’t exceed half of your yearly income. For someone who makes $50,000 a year, all your vehicles’ value shouldn’t exceed $25,000.
Dave Ramsey Says to Ask Yourself These 3 Questions Before …
WebContents show. Get everything you need to know when it comes to your vehicle. “The fact is, extended warranties are overpriced. That’s the reason people sell them, because they make a bundle on them in commissions,” says a money expert and radio talk show host, Dave Ramsey. “I don’t recommend buying extended warranties, ever. WebNot having a credit score is some kind of weird flex for hard-core Ramsey devotees. George insists a credit score is based solely on debt. He showed the factors that made up a credit score. All of them had the word “debt” in them. He conveniently left out the most important and heavily weighted factor, history of on-time payments. michaels poster boards
Dave Ramsey Has an Easy Equation to Figure Out How Much Car …
WebCar purchase : r/DaveRamsey. Debt-free for the past year with 3 months of expenses in saving, and currently saving/investing 35% of income. Car recently broke down, 2005 with 335K miles, and is not worth the repair costs. Thinking of spending about $9K. Should I pull cash out of savings for a used replacement vehicle or finance? WebJun 27, 2024 · Dave Ramsey said it’s a good idea to have a lot of liability coverage. He recommends getting at least $500,000 worth of coverage that includes property damage liability and bodily injury liability. Property damage liability covers the costs of getting the other driver’s car fixed. WebTrue, but the typical repair cost of a normally reliable car is 500-750$ per year. Don't pay 6,000$ in depreciation per year to save 500$ in repairs.. Unless you have enough assets built up to offset this easily. Better to put that 5500$ a year difference towards appreciation than depreciation. the nest wadhwa