Can I Afford to Buy a Harley?

Summary

The Ramsey Show Highlights

Episode Summary: "Can I Afford to Buy a Harley?"

Date: November 3, 2025
Hosts: Dave Ramsey & Financial Coach (uncredited)
Guest: Caller (Name not provided)

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Episode Overview

In this episode, a listener calls in to ask whether he can afford to purchase a $30,000 Harley Davidson motorcycle, given his current financial situation. Dave Ramsey and his co-host dissect the caller’s finances, habits, and long-term goals, providing candid advice about large discretionary purchases, managing windfalls, and living below your means.

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Key Discussion Points & Insights

1. Caller’s Situation and the Harley Question

• The Ask:
  • The caller is considering purchasing a new 2025 Harley Davidson Low Rider S for ~$30,000 (includes upgrades).
  • Caller’s motivation: “I'm just trying to figure out if how much of a step back it would be to my life if I were to purchase a 2025 Harley Davidson Loader Rider S. Sweet buy. 30,000.” (00:06)
• Income:
  • Caller earns ~$65,000/year; wife earns ~$15,000/year (part-time, 10 hours a week). Combined household income: ~$80,000/year.
• Current Vehicles:
  • Both own vehicles: truck (caller), crossover (wife).

2. Current Finances

• Debt:
  • No consumer debt. They are on Baby Step 6 with the Ramsey plan.
• Spending Habits:
  • Spending exceeds income by ~$1,000/month, covering gap out of savings.
  • Source: “Pulling out of savings every month? How much, roughly? About a. A thousand dollars a month.” (01:48)
• Spending Justification:
  • Tithing, retirement savings, restaurants, occasional travel, and mortgage ($1,400/month).

3. Inheritance and Assets

• Windfall:
  • Gifted ~$200,000 from the wife’s grandmother two years ago.
• Net Worth Details:
  • House: Owe $250,000, worth ~$450,000
  • Retirement Accounts: $210,000 combined
  • Mutual Funds: $150,000
  • Emergency Fund: $80,000

4. Dave’s & Coach’s Assessment

A. On the Harley Purchase

• Big Takeaway:
  • Dave empathizes with wanting a “cool” toy, but calls the Harley a “bad investment.”
  • Quote: “To invest $30,000 in a motorcycle that's going to be worth $15,000 ... in about an eye blink is not a good investment. You're not in a position to afford this.” (03:17–03:32)
• Calls out the real cost and rapid depreciation for new vehicles/toys.

B. On Living Above Means

• Dave and the Financial Coach are concerned that, despite earning $85,000/year and holding assets, the couple draws down savings monthly—a red flag.
• Quote: “Why can you not live on $85,000?” (01:52)
• Ramsey is skeptical of expenses being driven by tithing alone:
  • Quote: “Tithing does not cause you to not be able to make your budget. That sounded real holy, but I'm not buying it.” (02:10)

C. On Mortgage and Asset Allocation

• With significant cash sitting in savings and mutual funds, Dave is concerned about the outstanding mortgage.
  • Quote: “You have too much in an emergency fund and you should pay off your mortgage. You're sitting on 200,000 worth of inheritance. $150,000 in a mutual fund, $80,000 ... that's enough to pay off your mortgage. Why do you still have a mortgage?” (03:53–04:07)
• Dave encourages using the inheritance safety to eliminate the mortgage rather than invest in potentially volatile markets.

D. On Financial Agreement Between Spouses

• The caller and his wife are not aligned: he wants to pay off the house; she prefers the safety of cash and investments.
• Dave is clear: “There's nothing safer than a paid off mortgage. Much safer than a stock market investment.” (04:25–04:30)

5. The Final Verdict

• Dave’s bottom line:
  • “No, I would not buy the motorcycle. You're too broke to do it and you haven't learned to live on less than you make. No, I would not do it.” (04:37–04:45)
  • Recommendation: Get spending under control; eliminate the mortgage; and no toys until the basics are truly handled.

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Notable Quotes & Memorable Moments

• Caller opens with excitement and honesty:
  • “You actually know what that one is?” about the specific Harley model. (00:13)
• Financial Coach’s playful jab in the EV vs. bike debate:
  • “My Tesla will beat his bike and your car in a race.” (02:43)
• Dave’s classic realism:
  • “I love almost anything that has a motor in it ... which is kind of why I don't like Teslas.” (02:22–02:35)
• Summing up the tough love:
  • “Okay, I don't think we're going to be able to help you, honey. No, I would not buy the motorcycle. You're too broke to do it and you haven't learned to live on less than you make. No, I would not do it.” (04:37–04:45)

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Important Timestamps of Segments

• 00:06 - 00:32: Caller outlines Harley purchase and price
• 00:32 - 01:20: Hosts dig into income, debt, and how spending is outpacing earnings
• 01:20 - 01:48: Caller explains using savings for living expenses
• 01:52 - 02:22: Budget strain—hosts press for reasons and details
• 02:34 - 03:32: Hosts empathize with wanting a fun toy, but explain why it isn’t justifiable now
• 03:32 - 04:07: Asset details and Dave’s advice on paying off mortgage vs. investing
• 04:07 - 04:45: Dave summarizes the advice—no new motorcycle, get on the same page, and fix foundational spending

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Overall Tone

Direct, candid, and firm, Dave Ramsey serves up pragmatic advice rooted in his financial philosophy: live below your means, avoid depreciating luxury purchases until everything else is in order, and prioritize security over fleeting wants. The episode wraps with a clear, actionable takeaway—get the basics right before splurging.

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For listeners:
This episode is a mini-masterclass in assessing major purchases, the perils of living above your means (even with an inheritance), and the importance of marital alignment on money. If you’ve considered a big, emotionally charged purchase, Dave’s counsel here is a must-listen checkpoint.

Transcript

[Dave Ramsey]

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[Caller]

I'm just trying to figure out if how much of a step back it would be to my life if I were to purchase a 2025 Harley Davidson Loader Rider S. Sweet buy. 30,000. Thank you. You actually know what that one is?

[Dave Ramsey]

Yeah. What's the tag on that? What's the price on that?

[Caller]

You know, MSRP is about 24, but I'm gonna put some upgrades on it. Pipe and kitty grips and all that good stuff. About $30,000 out the door.

[Dave Ramsey]

Yeah. So what do you make?

[Caller]

Right now I'm making about $65,000 a year, and then my wife makes about 15. She works about 10 hours a week.

[Dave Ramsey]

I assume you each have a car.

[Caller]

Yes, I have a truck, and she has a. She has a, you know, crossover.

[Dave Ramsey]

Yeah.

[Financial Coach]

What kind of debt do you guys have currently?

[Caller]

No debt. We are actually on baby step 6 and 35 with two little kids. There's a couple kickers about that, though. I guess the first one would be that right now we're spending more than we make because.

[Dave Ramsey]

How would you pay for the Harley?

[Caller]

Oh.

[Dave Ramsey]

Just.

[Caller]

Just extra money. So about. About two years ago, we were gifted about $200,000 from Sarah's grandmother when she passed away. Or my wife.

[Dave Ramsey]

How much debt?

[Financial Coach]

No debt. But they're living above. How are you living above your meat? You're spending more than you make.

[Dave Ramsey]

Why?

[Caller]

We. We saved a lot of money prior to having children, and we are only going to.

[Financial Coach]

Pulling out of savings every month, too.

[Caller]

Pulling out of savings every month? How much, roughly? About a. A thousand dollars a month.

[Dave Ramsey]

Why. Why can you not live on $85,000.

[Caller]

You know, tithing and 15% for retirement. And restaurants.

[Dave Ramsey]

And restaurants and travel and vacation and restaurants.

[Caller]

We're not doing a whole lot of that.

[Dave Ramsey]

Yeah, you are. You're doing something because tithing does not cause you to not be able to make your budget. That sounded real holy, but I'm not buying it.

[Caller]

Yeah, our mortgage is about $1,400 a month.

[Dave Ramsey]

That's not killing you? Okay, well, anyway, so here's the thing. I love almost anything that has a motor in it.

[Caller]

Sure.

[Dave Ramsey]

Which is kind of why I don't like Teslas, because I like almost anything that has a motor in it. And so that bike is very cool.

[Financial Coach]

My Tesla will be his bike and your car in a race.

[Dave Ramsey]

I'll just say that. Go ahead and. Oh, yeah. Well, that's not a. Anyway, the. It's a very cool bike, and I So I, what I'm trying to say is I completely understand why your adrenaline is up when you think about it. And I can get that way about a myriad of different things with motors in them. Everything from a skid steer to a ski boat. Right. So I get it. But I will also tell you that as a young man with two children and hasn't figured out a way to live on $85,000 a year to invest $30,000 in a motorcycle that's going to be worth $15,000.

[Financial Coach]

Brand new one.

[Dave Ramsey]

$15,000 and about an eye blink is not a good investment. You're not in a position to afford this.

[Caller]

But I guess a little bit more with our finances. I mean, we owe about 250 in the house. Cross is worth about 450. We have a little over $210,000 combined in the work retirement accounts. And right now we got about $150,000 in a separate mutual fund with about $80,000 in an emergency fund.

[Dave Ramsey]

You have too much in an emergency fund and you should pay off your mortgage. You're sitting on 200,000 worth of inheritance. $150,000 in a mutual fund, $80,000. That's enough to pay off your mortgage. Why do you still have a mortgage?

[Caller]

I think that's kind of one, one thing my wife and I guess disagree on. I'm kind of on the, on the plane of mortgaging, you know, paying off the mortgage. But then when we first received the money and she was kind of along the lines of, you know, just to be safe, to put it, put it.

[Dave Ramsey]

There's nothing safer than a paid off mortgage.

[Caller]

Sure.

[Dave Ramsey]

Much safer than a stock market investment.

[Caller]

I know. But if I guess, I guess devil's advocate here because.

[Dave Ramsey]

Okay, I don't think we're going to be able to help you, honey. No, I would not buy the motorcycle. You're too broke to do it and you haven't learned to live on less than you make. No, I would not do it. Create your free every dollar budget today. The simplest way to budget for your life.