Podcast Summary

Podcast: George Kamel
Episode: I Asked People What Their Car Payment Is
Date: December 8, 2025
Host: George Kamel, Ramsey Network

Main Theme & Purpose

In this engaging street-style episode, George Kamel dives into the realities of car payments by talking directly with everyday people in Franklin, Tennessee—one of the state’s wealthiest counties. The episode blends candid, sometimes humorous street interviews with George’s sharp personal finance perspective. His central goal: unpack the real costs of car payments, debunk myths about needing to finance cars, and highlight the freedom that comes from driving paid-off vehicles. Throughout, George draws on real stories, pop culture, and snarky banter to illustrate how car debt impacts financial well-being—and how it can be avoided.

Key Discussion Points & Insights

1. The Prevalence and Shock of High Car Payments

• Opening Stats: George opens with a sobering statistic:

  “Right now, the average American is spending over 700 bucks a month for that new car payment. And honestly, I don't know how they're affording it.” (00:05)

• He expresses genuine curiosity about how people manage such hefty payments in today’s economy.

2. Candid Street Interviews: A Diverse Array of Car Stories

Used Cars & Small Payments

• 2004 Toyota Highlander:
  • Purchased used for $11,000, $100/month payment, nearly finished.
  • Owner is loyal to Toyotas for reliability and value retention.

  “These things can hold their value, though.” (00:45, George)

• 2015 Lexus:
  • Gifted by parents, bought used and fully paid in cash.
  • “Very blessed,” owner says, intending to keep it “until it dies.”
• Camille’s 2024 Tesla Model Y (Lease):
  • $450/month; Camille prefers leasing for tech updates:

    “My thought process was like, I don't know what the tech's going to be in three years… we could have flying cars.” (02:20, Camille)

  • Leasing means she'll return the car to Tesla after 36 months.

Splashy Purchases & Regret

• 2025 Ford Expedition:
  • Bought cash for $80,000 after selling a California home.
  • Dealer pushed for a $2,100/month loan, but owner refused financing:

    “He actually was trying to convince me to make payments… I said, who does that? And he goes, my car payment's $2,100.” (03:54, Ford Expedition Owner)

• BMW 3 Series:
  • $734/month payment at 3.99% interest.
  • Owner regrets the decision, feels payment stress, and is “underwater” (owes more than car’s worth):

    “Within a few months… it was totally the payment.” (05:37, BMW Owner)

  • Worries about retirement and other debt obligations.

Cash Buyers & Savers

• 2018 Honda CRV:
  • Bought used in cash thanks to disciplined, automated savings with the EveryDollar app:

    “We just saved monthly and I had—I called it my Dave car for a minute.” (07:24, Honda CRV Owner)

• 2007 Toyota Highlander (New Zealand Native):
  • Paid in full, plans to keep it “until it dies.” Compares U.S. car culture to New Zealand’s lower key, utility-focused approach:

    “Back home, the more run down your car is, the cooler it is, I reckon.” (10:14, New Zealand Native)

• Audi SUV (Musician):
  • Paid off in cash, thanks to lifelong savings matched by her father:

    “My dad sat me down at 9 and said whatever I had in my savings, he would match.” (11:39, Musician Audi Owner)

3. Cultural Attitudes Towards Car Debt

• George highlights the difference between the flashy U.S. car market and other cultures, such as New Zealand, where functional, well-worn vehicles are “cool” and few people care about car payments.

Notable Quotes & Memorable Moments

• On Leasing & Technology:

  “I don’t know what the tech’s going to be in three years. Like, we could have flying cars…” (02:20, Camille)

• On Paying Cash:

  “We sold our house, moved here, got completely debt free, paid cash for a house, and paid cash for our car.” (04:23, Ford Expedition Owner)
  “That is wild. Did that take your breath away to pay cash for this?” (03:49, George)

• On Instant Regret from Car Payments:

  “Within a few months.” (05:39, BMW Owner, on when regret set in for his payment)

• On U.S. vs. New Zealand Car Culture:

  “Back home, the more run down your car is, the cooler it is, I reckon.” (10:14, New Zealand Native)

• On Saving for a Car (the Dave Ramsey Way):

  “We just saved monthly and...I called it my Dave car for a minute.” (07:24, Honda CRV Owner)
  “So you forgot about it as in you had it like automated. Going to savings every month from checking.” (07:56, George)

Important Timestamps & Segment Highlights

• Opening Stats & Purpose: (00:05)
• Interview: Toyota Highlander (used) & Lexus (used, gifted) (00:25–00:58)
• Camille’s Tesla lease story: (01:47–03:16)
• Ford Expedition All-Cash Purchase: (03:19–04:46)
• BMW Owner’s Regret Over Payment: (05:04–06:46)
• Honda CRV Owner’s Savings Journey: (06:51–08:20)
• Cultural Perspective from New Zealand Native: (09:21–10:54)
• Musician’s Story – Audi Bought Cash, Family Savings Match: (10:58–12:25)
• George’s Final Thoughts & Summary: (12:25–end)

George’s Takeaways & Rules of Thumb

• You don’t need a payment to own a car. Used, paid-off cars offer freedom from stress and provide reliable transportation.
• Upgrade over time:

  “You can always upgrade over time. And here’s my parameter to know if you have too much car: If you can’t pay it off in the next two years, it’s simply too much car.” (12:38, George)

• If the total value of your vehicles exceeds half your annual income, you’re overspending.
• Cars are depreciating assets. Every dollar spent on interest is wasted.
• Actionable Advice: Sell, downsize, avoid debt, and automate savings for future purchases.

Tone, Humor & Engagement

George’s conversational, witty style brings levity to the topic, even as he calls out questionable financial decisions and celebrates smart ones. The “Sock It To Me” game (08:20), where he rewards a good insult with socks, adds humor and warmth, reinforcing his approachable persona.

Summary

This episode offers an insightful—and often entertaining—look at America’s car payment phenomenon. Through real stories and unfiltered reflections, George Kamel underscores the rewards of driving debt-free. The financial stress of high payments and loans stands in stark contrast to the empowered, liberated tone of those who’ve saved, planned, and bought their vehicles outright. George leaves listeners with clear principles to avoid the car debt trap—and plenty of motivation to rethink their own approach to buying cars.