February 29 2024- Bestselling personal finance author and radio host Dave Ramsey emphasizes the rising costs associated with owning a car, beyond the initial purchase price. With transportation being the second-largest expense for Americans, Ramsey suggests managing finances around transportation needs. He advises against taking out new loans to buy cars and encourages people to stick with their current vehicles while saving for a replacement. Ramsey advocates for buying good used cars instead of new ones and highlights the benefits of life without a car payment. Additionally, he suggests carpooling, using public transportation, regularly reviewing car insurance costs, and eliminating unnecessary vehicles.
https://www.thestreet.com/automotive/why-dave-ramsey-urges-buying-a-car-now-with-spirit-of-saving