Should You Buy A New Or Used Car?

Should You Buy A New Or Used Car?

New car? Used car? Right? I mean, I think we
all know that once you drive a new car off a lot, it immediately goes down
average $6,000 in value. That’s what gets lost just for driving it. But you know,
there’s a lot of people that say “Based on the glitz and glamour and the
appearance that I want to have, I don’t care. I want to have that nice new car.”
Today, I want to share with you an alternative. Because don’t get me wrong. I
like nice things. In fact, I own lots of nice things. And yet, one of the reasons
why was financially independent by the age of 26 is because I learned how to be
really wise with my money. Learned when did delay gratification and how to cut
corners. And I’m going to share with you some of those corner cutting tips right
now. I’m going to put your actually on the
screen a car that’s probably familiar to you. This is a Tesla. A Model S. It’s a
beautiful car, right? And if you’ve driven in one of these things, I have to tell
you I love the sensation. When an all-electric vehicle and you hit the gas.
And then of course, musk has made it so futuristic because you got this massive
tablet that runs all controls. So, it’s very simple. It’s very elegant. Frankly, it
looks like a car that Apple could have made. If you wanted to own that car new
in 2019, it starts at the building package $135,000. And in if
you were to go and get the exact same looking car but maybe with 20/30/40 thousand miles, there’s a 2017 on average that you can pick up for $85,000.
Now, what’s the difference? The car looks the same. At least it’s the same model.
One’s been driven more. But the difference between 85 and 135 thousand
dollars as a delta of $50,000. And here’s the question. What
could you do with $50,000? Now, you’ve probably heard the antics like “If you
just didn’t you know for went coffee a day and saved yourself 5 bucks what
that could future value turn into?” Let’s not talk about coffee, let’s talk about
this car. Did you know that if you had that money invested at 12% over 30 years,
that the savings on that car would yield you 1.5 million dollars. Small things in
real estate or in wealth or in finance or stock market with time can turn into
something super meaningful. And some of you are wondering, “How did you get to 1.5 million dollars? It’s that 12% ROI. I want to
actually show you how you can get a 12-percent yield or even 15.
But on average, I’m doing 25%. Double this. And you know what that means
to the 1.5 million number? On that hockey stick curve, it becomes something
significantly more. I want to share with you how I do this in the game of real
estate. I’m going to talk about a good deal versus a dream home. Because there’s a
lot of people that they want to have it all right now. They want to
just live that lifestyle without necessarily earning it.
A lot of people on this broken treadmill where they have to slave at their job to
support their lifestyles. The “Keeping up with the Joneses.” Now, I’m going to show you…
This is kind of a dorky image of me. I pulled the snag this from YouTube one of
my earlier videos. I’ve got this home in the background. This is the very first
house that I ever purchased. And at the time that I bought this home, a buddy of
mine who made the same income bought a much nicer house. I chose to go with the
house with a basement that I rented out and it covered my mortgage. And my wife
and I then literally went from living in a hole in the ground apartment to
upstairs having three bedrooms all to ourselves.
It was bigger, it was nicer. We renovated it so everything certainly felt a lot
newer. The bottom line is this house made me… Not a little bit of money it made me
a lot of money. I bought this in 2003 for $110,000. 4
years later, I custom-built a 10,000 square foot home on the golf course that
I lived in for 11 years. And eventually, sold that. And in 2018,
I bought this multi-million dollar dream home up in the mountains. It was snowing
this morning. Dumped 6 inches last night. Heaven. Just so incredibly gorgeous
and beautiful. And if you look at the difference between these 2 houses, the
only way I got to this house was by starting with this kind of house. It’s
not very different than this whole idea of the Tesla. 2019 versus buying a
slightly older model. I can still achieve the same look. But put that savings to
work. You know, this is one of the things that were not taught about money. And it
is so crazy to me that in today’s financial society that we’re so often
making dumb decisions. We’re eating out every day when that money could be saved.
When you’re young, you’re supposed to be saving your money and investing it. Not
in 401K’s and IRA’s and stupid crap like that. I’m talking about places where you
can get a serious ROI because here’s what you need to know: I’m not talking
about get-rich-quick. I didn’t even do it quick. It took me 5 years to get
to my dream. But most people even if it took 20 or 30 years, it’s because
they’re putting time on their side with better ROI. Your job is to find a more
significant ROI that can actually build and do that for you. So, how do you do
this and how do you get those ROI’s? I wrote this book. I’ve written several now.
This particular book I give away for free. To anyone that wants it. I ask
that you click the link below and cover the shipping. But when you get this book,
it’ll actually talk about this very first house that I bought. And it’ll show
you then how in a short period of time, I was able to afford a much nicer
lifestyle and it’s all because I became really expert at a very simple game of
money. I learned how to get higher yields than other people were getting. And with
a little bit of time, it led to a much nicer lifestyle. So, if you want to get a
copy of this book, I break it all down for you and I show you step-by-step how
I build that wealth. You’re also going to want to subscribe because every day I
come out with a brand new video designed to teach you exactly how I did this.
There are people all over the world that have watched this channel that are
executing the information that I share with you here aren’t and are literally
creating better lives for themselves. And some of you might actually want to join
me live and come to one of my 4-day events where I give you your multi-million
dollar game plan all of the training and step-by-step walk you through how to
build this wealth. So, thank you so much for watching the video today. Get your
hands on a copy of the book. Should you buy a used car or a new car? Listen. The
time for buying a new car is when you have more money and you have a residual
income that supports you in all of your goals and dreams. Until then, either delay
gratification or get smarter with what you do with your money.

9 thoughts on “Should You Buy A New Or Used Car?

  1. Your awesome man!! I’m currently also reading Limitless!

  2. 🙏 it's really helpful

  3. Keep doing what you are doing by the way I love te content of your channel

  4. ALWAYS go for the used car! Really! I did the calculation. No TAX benefit can match a great buy! Same as in the real estate industry! I’ll share my personal finance path on YouTube too.

  5. Keep it up

  6. I rather lease so every few years I can get a new car. In the words of Dwayne Johnson “ if it drives, flies or floats lease it.

  7. I still drive my 05 caravan, and friends laugh. This beauty even has a DVD player, lol.

  8. I went to a hockey game last night. There was a Tesla model s sitting outside. I’ve bought 3 houses cheaper than that car.

  9. I drive and 1997 Honda and yet I'm not making these yelds. Lol

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