I Asked People What Their Car Payment Is

Summary

Podcast Summary

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

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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.

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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.

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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)

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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)

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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.

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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.

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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.

Transcript

[George]

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. And that's why I'm going to ask. I'm here on the mean streets of Franklin, Tennessee, one of the wealthiest counties in Tennessee, to figure out how much people are forking over for their rides every month. Okay, let's talk shop. What do you drive?

[Used Toyota Owner]

I drive a 2004 Toyota Highlander.

[George]

It's a good whip. You got a payment on it? Yes.

[Used Toyota Owner]

I only have. It's 100 bucks a month, and I'm almost done with it. I've probably got, like, five more.

[George]

Okay, you bought it used? Yes.

[Used Toyota Owner]

Bought it used. Yeah, it was $11,000 used, which is crazy, but yeah.

[George]

Dang. Okay, when did you buy it?

[Used Toyota Owner]

Three years ago? No, two years ago. Two years ago.

[George]

Okay, so it was already, like, close to 20 years old? Yes. Yeah. Already close to 20 years old. These things can hold their value, though.

[Used Toyota Owner]

Yeah, they can hold their value. I can still sell it for eight to nine, I think.

[George]

All right.

[Used Toyota Owner]

And I have always driven a Toyota. That's my favorite car. Car of all time.

[George]

Heck, yeah. All right. How about you? A 2006 Lexus. Nice. And it's still running great.

[BMW Owner]

Surprising.

[George]

No reason to upgrade. No, it's my grandma's. So did she give it to you? She did. She did. That's grandma energy right there. Yep. Very generous woman. And how about you?

[Used Toyota Owner]

2015 Lexus?

[George]

All right, he wins. He has the nicest car out of all of you. So if someone's going to pick you guys up to go around town, it's going to be him. What's the payment on this 2015 Lexus? 0. You paid for it in cash?

[Used Toyota Owner]

My parents did. Very blessed.

[George]

Wow. Do they buy it used, new?

[Used Toyota Owner]

Used.

[George]

So they bought it for you used in cash. And what's next? Like, is it on you to get the next one?

[Used Toyota Owner]

Of course.

[New Zealand Native]

I'd like to buy my own car one day, but I'm gonna keep this until it dies.

[George]

Kicks the bucket.

[Used Toyota Owner]

Yeah, until it dies.

[Camille]

Good.

[Honda CRV Owner]

We like that.

[George]

Camille, tell us what you drive right now and what the payment is.

[Camille]

I'm in a Tesla model Y, and I think my payment's 450amonth.

[George]

Okay. Is it. What year is the Tesla?

[Camille]

2024.

[George]

Okay.

[Camille]

Just got it last year.

[George]

Nice whip. Big Tesla fan. Okay, so you got it last year. Was it used or new?

[Camille]

It was new. I lease it.

[George]

Oh, it's a lease at 450amonth?

[Camille]

Yep.

[George]

So at the end of this lease, what happens?

[Camille]

Probably going to get a new Tesla with payments? Yeah.

[George]

Instead of the lease? I don't know.

[Camille]

It kind of depends. My thought process was like, I don't know what the tech's going to be in three years. Like, we could have flying cars, and I knew I wanted a nicer car.

[George]

So what were you driving before?

[Camille]

A Toyota Prius from 2005.

[George]

So you really upgraded and you're like, that's fine. Did you have payments on that?

[Camille]

No.

[George]

Okay. But you decided this is worth it for me to make this payment every month for how many months? What's the lease agreement?

[Camille]

It's three years. So 36 months and. Yeah, that's it. Afterwards, there's no option to renew the lease. It's just you give the car back and it gives it to their fleet.

[George]

Give it back? Can you do a buyout on it?

[Camille]

No. It goes into the Tesla fleet and they use it for Ubers.

[George]

And that's so crazy. Okay, have you done the math on this?

[Camille]

I think I did. When I first got the car, I.

[George]

Kind of wanted to. Can we do it live? This will be really fun for me. Okay, so four, five, zero. You said three years, 36 months. So you're paying $16,000 to basically rent the car from Tesla?

[Camille]

Yeah.

[George]

That's a lot of dough. What kind of car do you drive?

[Ford Expedition Owner]

I drive a 2025 Ford Expedition.

[George]

That sounds expensive.

[Ford Expedition Owner]

It is expensive.

[George]

Remember the total cost of this car?

[Ford Expedition Owner]

$80,000.

[George]

$80,000. Did that feel like a good decision?

[Ford Expedition Owner]

No, it didn't feel like a good decision. No.

[George]

Does it now?

[Camille]

It does.

[George]

Okay.

[Ford Expedition Owner]

Because I paid cash for it.

[George]

Whoa.

[Ford Expedition Owner]

Okay, then I paid cash and I paid car payment.

[George]

That is wild. Did that take your breath away to pay cash for this?

[Camille]

It did.

[George]

Were they confused at the dealership?

[Ford Expedition Owner]

Yes. And he actually was trying to convince me to make payments on it, and he said that it would be $2,100 a month for a car payment. And I said, who does that? And he goes, my car payment's $2,100. And I looked at my husband and.

[George]

I was like, you just insulted the salesman.

[Camille]

I did. I did.

[George]

He's trying to impress you with his.

[Ford Expedition Owner]

Car payment, and there's nothing impressive about that.

[George]

Wow, that's really impressive. So did you guys just save up for this? Like, how easy was it to save up for an $80,000 car?

[Ford Expedition Owner]

We kind of, because we lived in California, sold our house, and then we moved here, we got completely debt free, paid Cash for a house and paid.

[George]

Cash for our car. So you had enough from the home sale that you're like, we could buy a house in cash and have enough leftover to get a really sweet car.

[Camille]

Yes.

[George]

Well, good for you guys. I just haven't met a lot of people who spent $80,000 on an expedition paying cash. They must have looked at you so weird at the dealership.

[Camille]

They did.

[George]

And then the finance office is like, you're not going to let her pay cash if he's not leaving here without payment.

[Ford Expedition Owner]

They absolutely were mad at, no, they.

[George]

Don'T make money off of cars. They make money off of financing. Gotcha. And your little tricks, car salesman. Always be closing. What kind of car do you drive?

[BMW Owner]

A BMW 24.

[George]

Oh, that's. Which one? What's the model?

[BMW Owner]

Three.

[George]

Oh, that's a sweet ride. Okay, you got a payment on it or is it paid for?

[BMW Owner]

Payment?

[George]

What's the payment?

[BMW Owner]

734.

[George]

Oh, I know that's up there. Do you know, like, the interest rate?

[BMW Owner]

How many years and the interest rate is like 3.99.

So, yeah, I've recently thought about selling it.

[George]

Oh, really? When did you get it?

[BMW Owner]

A year ago October.

[George]

Wow. When did, like, the regret sit in where I got to get rid of this thing?

[BMW Owner]

Within. Within a few months.

[George]

Wow. Was it because of the payment or what?

[BMW Owner]

Yes.

[George]

Okay. You're totally the payment. Like, did you just feel like, why did I sign up for this payment? Or could it have been any payment?

[BMW Owner]

I think it could have been any payment. You know, I'm close to retirement and I'm not ready.

[George]

So you're like, okay, I could have used this money to invest and set myself up, but now it's setting me back.

[BMW Owner]

Okay. Off debt.

[George]

Oh, you have other debt, too? What kind of. What's the other debt?

[BMW Owner]

Credit card I owe on my house. Think that's it.

[George]

Okay, so credit card debt, you got the car loan, the mortgage, and you're just like, ah, you want to retire one day. Is it delaying retirement now having this car payment? Well, I don't know.

[BMW Owner]

I've been taking a serious approach. I have two years, eight months, and like 12 days.

[George]

Okay.

[BMW Owner]

Before I can retire from the state of South Carolina.

[George]

Okay.

[BMW Owner]

So.

Yeah.

[George]

Are you underwater on this car at this point?

[BMW Owner]

Yeah, yeah.

[George]

Oh, man, I checked it out.

[BMW Owner]

Yeah.

[George]

What's left on the balance?

[BMW Owner]

Probably about 43.

[George]

And it's worth.

[BMW Owner]

39.

[Honda CRV Owner]

Yeah.

[BMW Owner]

I don't know. I mean, that would almost be worth doing it.

[George]

What do you drive right now?

[Honda CRV Owner]

A Honda CRV what year? 2018.

[George]

It's a nice whip. What's the payment on that?

[Musician Audi Owner]

Zero.

[Honda CRV Owner]

Paid for in cash.

[George]

So originally when you bought it, it was cash.

[Honda CRV Owner]

Cash, all cash.

[George]

Did you buy it used?

[Honda CRV Owner]

Yeah.

[George]

Okay, how many years used was it at the time?

[Honda CRV Owner]

We bought it in 20. When did we get it? 23.

[George]

Okay, so it was five years used when you bought it and you got a sweet discount for that because it already depreciated.

[Honda CRV Owner]

Right, right.

[George]

How'd you save up for that? Because a lot of people go, well, I can't afford even a used car in today'.

[Honda CRV Owner]

We just saved monthly and I had. I called it my Dave car for a minute.

[George]

What were you driving before?

[Honda CRV Owner]

Sonic. Chevy.

[BMW Owner]

Sonic.

[Honda CRV Owner]

It was used a little five speed.

[George]

Yep, yep.

[Honda CRV Owner]

So I drove that for a while and then we just saved.

[George]

How much were you. Do you remember, like the savings plan you had and were you on track?

[Honda CRV Owner]

I don't remember monthly. How much? We just like set it. Cause we have the app, like the.

[George]

Dave Ramsey, the EveryDollar budgeting app.

[Honda CRV Owner]

So we just. Yeah, we're kind of all in. We're kind of all in.

[George]

That's amazing.

[Honda CRV Owner]

Yeah. So we just saved monthly and just kind of forgot about it and paid cash. It was like.

[George]

So you forgot about it as in you had it like automated. Going to savings every month from checking.

[Honda CRV Owner]

Yeah.

[George]

That's impressive. Do you remember how much it was going per month?

[Honda CRV Owner]

I have to ask. Husband. How much was it?

[George]

350, maybe. 353.50amonth. Okay, that's impressive. And then over time, college.

[Honda CRV Owner]

And we save for that cash too. Over time.

[BMW Owner]

Yeah.

[Honda CRV Owner]

I mean, just add it up. When you leave it, you forget about it. Don't touch it. It just adds up.

[George]

So you want to play a game real quick?

[Honda CRV Owner]

Sure.

[George]

Okay. It's called Sock it to. Here's how it works. You have to insult me. And if it's a good enough of an insult, I will gift you these socks from cozy Earth, which will you feel them real quick?

[Honda CRV Owner]

Yeah, I feel.

[George]

Pretty plush, right? Are you ready to play socket to me? I'm scared you have to hurl the worst insult you can think at me. Have you ever been mean to your husband?

[Honda CRV Owner]

All the time. But that's.

[George]

Channel that. Channel that. I'm not nearly as good looking as your husband.

[Honda CRV Owner]

I know. Okay, does that count?

[George]

Wait, she said I know. Does that count?

[Honda CRV Owner]

Can that count?

[George]

That hurt. But in a different way.

[Honda CRV Owner]

I mean, I forgot your name. Insults enough.

[Camille]

Just.

[George]

You know what, just take the socks and leave and you know what? If you can't sock it to me, you can still get some great Cozy Earth apparel. Socks, loungewear, bedding. @cozyearth.com George. Use promo code George for 40% off their loungewear, their socks, their athleisure, their bedding, all of it. Go check it out. Cozyearth.com George. Or use the link in the description. Okay, Tell us what kind of car you drive.

[New Zealand Native]

Toyota Highlander, 2007.

[George]

That's a nice whip. 07.

[New Zealand Native]

Yeah. I mean, it's seen some things, but it's reliable.

[George]

Yeah. How long have you had it?

[New Zealand Native]

Three years now.

[George]

Okay, Is it paid off or do you have a payment?

[New Zealand Native]

Absolutely, yeah. Paid in cash.

[George]

Nice. Loud and proud. Okay, when are you gonna upgrade, you think?

[New Zealand Native]

Oh, I mean, just when it dies. When it dies? Yeah. I don't plan on upgrading.

[George]

Do you have, like, a savings plan to upgrade? Like, do you guys have the money right now to get a different car?

[Camille]

Nope.

[New Zealand Native]

This one's great. I don't need anything.

[George]

Just vibing. So tomorrow it breaks down. What are we gonna do?

[New Zealand Native]

Use my husband's car. He's just got a truck.

[George]

Oh, yeah. I love how nonchalant. She's like, we'll figure it out. It's fine. It's fine. Cause some people go, well, it needed a repair, so I went out and bought a brand new car.

[New Zealand Native]

Oh, yeah. No, I think that's crazy.

[George]

It's insane. Okay. What do the people of New Zealand think about car payments? Oh, gosh. Like, in general, do you meet a lot of people that have car payments? I have.

[Camille]

No.

[New Zealand Native]

I've noticed that, like, the standard of cars is so much lower back there and nobody really cares. Like here, everyone cares about their cars so much. Everyone's got a fancy car. No matter what your income is back home, the more run down your car is, the cooler it is. I reckon.

[George]

I reckon as well.

[Camille]

Yeah.

[George]

So it's just utility. It's like, that's stupid to care that much about a car.

[New Zealand Native]

A to B, done.

[George]

And there's no, like, comparison game. Like, I want to look cool in this car.

[New Zealand Native]

I think if you've got a van, that's like, peak cool. Oh, like how everyone wants a truck here. Everyone wants a van.

[George]

Like a converted van or like a minivan?

[New Zealand Native]

No, like a converted van. Like, if you can go tenting in it.

[George]

Oh, very outdoorsy types over there.

[Camille]

Yes.

[New Zealand Native]

Pinnacle.

[George]

It's like, we're camping. We love camping. All right. I hear you're a musician.

[Musician Audi Owner]

I am.

[George]

Do you think musicians make good financial.

[Musician Audi Owner]

Decisions depends on the musician. I'm pretty business savvy.

[George]

Oh, okay. We'll find out. What kind of car are you driving?

[Musician Audi Owner]

This is going to start really bad. I drive a white suv.

[George]

Is it a luxury brand?

[Musician Audi Owner]

It is an Audi.

[George]

Oh, okay. You got an Audi suv. It's paid off. No payment. Nop. Did you buy it in cash? Yes. How saving was it?

[Musician Audi Owner]

Brand new, add some miles.

[George]

Okay, so it was used. You bought a used car in cash?

[Camille]

Yeah.

[George]

Why the shame? You're amazing.

[New Zealand Native]

Thank you.

[George]

Okay, how long did it take to save?

[Musician Audi Owner]

I've saved since I was little. My dad sat me down at 9 and said whatever I had in my savings account, he would match. So I've been saving up a store.

[George]

Okay, so how much did you save to get the match? What did it end up costing you?

[Musician Audi Owner]

I mean, I think by the time I graduated high school, I probably had 30 something in my bank account. Oh, and then he matched the rest.

[George]

Was there a limit? Was he like, all right, I never said I was gonna put 30 grand into this. But he was like, hey, you saved it.

[Camille]

I'll do it.

[Musician Audi Owner]

No, not really.

[George]

So what did it end up costing the car out the door? What was the total price?

[Musician Audi Owner]

What a new Audi would cost.

[George]

You said it was used. Not a little bit of miles. Okay. Okay.

[Musician Audi Owner]

Testing are on the line.

[George]

Is it 50,000? Is it 60,000? Yeah. Is it 70,000?

[Musician Audi Owner]

50 is.

[George]

Okay. All right, then keep your secrets. I got to tell you, a lot of those people restored my faith in humanity. I was shocked at how many people actually drove used, paid for cars. Are they flashy? No. But who cares? It gets them from A to B. And the people that did have car payments, you can feel the stress. You can feel the pressure that adds to your life to have that car payment. So here's the deal. You don't have to have a car payment to have a car. You can pay cash. Is it going to be the latest and greatest? Maybe not. But 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. If all of the things in wheels and motors in your life adds up to more than half your annual income, you have too much car. It might be time to sell and get rid of it ASAP and downsize into something you can afford in cash. Because cars are depreciating assets. They're going down in value every day, and interest is making you pay more for that car every single day. So live a debt free life, get rid of the car, pay off the car and never have a payment again. That's the way to do it. And if you're not convinced yet, I'll show you how that car is costing you millions when you watch this next video. Coming right up. Or click the link in the description below. Until next time, click the like button. Click the subscribe button. Thanks for watching. We'll see you next time.