[00:01] five years financially and most people don't even think twice about is buying a brand new car. The average price of a new car is now over $51,000, which translates to a new car payment of over $750 a month or about $9,000 worth of
[00:14] insurance and depreciation, the true cost of owning that car is easily over $1,000 a month. At an 8% average return, if you invested those payments instead, in 10 years it's worth over $213,000 if it's in the market. But of course,
[00:28] that assumes you drive nothing at all, but in most cases you're going to need a car. So what I propose is getting a reliable used car instead. The average used car payment is $537 a month, so it's $213 less per month than the new
[00:41] same commute and your life pretty much stays the same, but that $213 a month invested over 10 years is worth over $45,000. That's $45,000 for doing nothing except for choosing a used car over a new one, and this is what sets
[00:55] people five years back. Even if you invested $8,000 a year, which is two to the country of what people invest, the $45,000 gap represents about five years So the lesson here is simple, you want to buy a reliable used car, you want to
[01:10] anymore, and that will save you [music] the most money.