When Can I Afford To Upgrade My Car?

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 10 August 2023

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Ramsey Call of the Day is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Dr. John Delony, George Kamel & Jade Warshaw. Part of the Ramsey Network. Delivered to you five days a week. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Ramsey Call of the Day, part of the Ramsey Network.
0:11.1	Melanie is in Seattle.
0:13.1	Hi, Melanie.
0:13.9	Welcome to the Ramsey show.
0:16.2	Thank you so much for taking my call, Dave and Jade.
0:18.5	I'm so excited to be talking to you both.
0:20.2	You too.
0:20.8	What's up?
0:21.8	So I am wondering if this is the right time to upgrade my hoopty that I love so much, actually.
0:28.1	I'm in Baby Step 3B.
0:29.5	Well, my husband and I were both in Baby Step 3B currently leaving up for a house.
0:34.4	And I'm just wondering if I should take a little bit of that chunk to get a upgraded car.
0:41.7	I learned about you in 2019. I actually had the flashy Mercedes. And then I went and I was like,
0:49.6	nope, cannot do this payment anymore. And I paid it off as best as I can to get rid of that lease.
0:55.8	And in the meantime, I was able to cash flow my first CRV, and I actually paid cash for it.
1:02.5	And so it's a little older. I do love it. I enjoy it, but I'm wondering if this is the right
1:07.5	time to upgrade to a better one. What's it worth? It's worth $6,000.
1:12.8	What's your household income?
1:16.1	$116,000 a year.
1:19.3	And how much would you spend to upgrade it?
1:22.0	I would spend about $15,000.
1:26.4	So move to a $21,000 car?
	...

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