Dave Ramsey Says You Can Get A Decent Car For Under $5,000, The Internet Says He's 'Out Of Touch'

Dave Ramsey, financial guru and American radio personality, is well known for his ‘get out of debt' advice and frequently tells callers on The Ramsey Show that they can get a decent car for just a few thousand dollars. 

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Ramsey Solutions states, "You can find reliable used cars in any price range. If you're really strapped for cash, look for a vehicle to get you from point A to point B for as low as $1,000 to $2,000. It may not be pretty, but you'll get by."

Many people have taken to social media to point out how wrong and "out of touch" Ramsey's advice is for today's standard of living. 

One Tiktoker said, "Am I the only one who’s done hearing from Dave Ramsey? I took his course close to 20 years ago, and even then it was kind of out of touch. But he’s still peddling the same advice that he always has and is not altering it for today."

She explains how Ramsey tells his listeners to prioritize living, food, and transportation. "He will tell you to sell your car and to buy ‘reliable’ transportation for a few thousand dollars. Which, I’m sorry, in today’s world just isn’t possible."

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Another social media influencer, Josh Benson, took a more satirical approach on his channel when he saw Ramsey saying, "Yeah, you can get a decent car for $5,000." 

Benson continues his video by sarcastically listing cars he found for sale online. "Look at all these stylin’ whips I found for under $5,000 in Franklin, Tennessee."

He shares vehicles that are clearly run down, many with higher-than-ideal mileages, several with mismatching parts, and many that are well over 20 years old. 

Several commenters shared their experiences of trying to buy cheap cars, and agree that this advice isn't sound. One said, "Bought a 2008 Chevy Impala from a friend for $4,000. Within a year and a half, it was rot rusted—whole frame, rear suspension gone, and multiple engine leaks. Before that, I did at least $6,000 in repairs." 

Another said, "I used to have no credit, so I was forced to buy cash cars. I've bought several for under $5,000, but not anymore! Couldn't find anything nice in Florida under $10,000 last year."

Not everyone agrees with the sentiments shared by these internet warriors. Some shared experiences about the cars they've gotten with little to no issues. One commenter said they got a car for $1,500 and have only had minimal issues to fix, while others agree it is possible to buy an affordable, used car if you take care of maintaining it properly. 

What do you think? Is Ramsey out of touch in telling people they can buy affordable cars with cash? While everyone's situation differs, this debate highlights the importance of personalized financial advice. Dave Ramsey’s guidance may have worked well in the past, but today’s economic realities require a more nuanced approach.

Consider talking to a financial advisor as you learn how to manage your personal finances and plan for your future. 

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