I Just Bought My Dream Car - Should I Return It?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 18 April 2025

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	This episode is brought to you by SmartVester.
0:08.0	Connect with an investing pro near you at ramsysolutions.com slash smartvester.
0:13.9	Landon is up next in Memphis.
0:15.6	What's going on, Landon?
0:17.0	Hey, I appreciate you all talking my call.
0:18.8	Sure.
0:19.2	How can Ken and I help?
0:20.7	So this is probably a really stupid question, but I'm a tight wad, so I've got to ask it anyways.
0:25.0	Okay.
0:26.4	So I'm in Baby Step 7, my wife and I, and we're 27.
0:31.5	And really the problem with my question is I feel like I just have too much my net worth wrapped up in my house.
0:36.3	But I just recently bought a Mercedes S worth wrapped up in my house, but I just recently
0:37.8	bought a Mercedes S class maybe a day or two ago. And just emotionally to me feels like I spent
0:45.8	way too much money on something that goes down in value. And it just eats me up thinking about
0:50.1	what I could put that money in that would go up in value. And so my question is, should I take
0:55.3	this stupid car back? Well, let's talk about what you spent on it. So after taxes and fees and all
1:02.2	that, you know, junk is about 35 grand. All right. And what's your household income?
1:07.2	The last two years, I've averaged about 250. Well, there's some ratios for you. That puts it in perspective.
1:12.6	How much do you have tied up in everything with wheels and motors in your house right now?
1:17.6	It's probably got a 45 grand counting the Mercedes.
1:20.6	Yeah. Okay.
1:21.6	You're driving an older car for the other car.
	...

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