How Do Rich People buy a Car

They use the Rule of 3 ( which I just made up the name )
First: They buy used 4-5 years old (so the first buyer that bought new absorb the most Depreciation)
Second: They Buy quality not Brand ( Usually Toyota, Mazda and Honda have the best quality track record)
Third: They buy Cash and They don’t have more Half their Annual income in cars

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Chapters:
0:00 Intro
0:08 20/4/10 Rule
1:40 20 stands for a 20% downpayment
2:16 4 stands for a 4 year (or less) lease agreement
3:03 10 stands for less than 10% Monthly
3:53 20/4/10 Summary
5:43 Math Behind the Method
8:40 The Rule of 3 (How rich people do it)
8:57 Rule 1
9:07 Depreciation Curve
10:00 Rule 2
10:47 The Most Reliable Car Brands
11:47 Rule 3
13:18 Story Time: $352 Million Dollar Man
16:35 Buying a Car with Little Money
18:17 Outro

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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