When Does It Make Sense To Buy A Brand New Car?

When Does It Make Sense To Buy A Brand New Car?


Hey, what’s up? Kris Krohn here. And I am
sitting in probably one of my favorite cars I’ve ever had in the past. And it’s
because today I’m making a video answering a very popular question from
you which is, “How do I actually know when it’s time for me to buy a new car?” And
I’m gonna be answering that a couple of different ways. I can certainly show you
how to make it happen sooner. Or does it take the more conservative route. But
regardless, at the end of the video is a bonus.
I want to share with you how you can drive something like this really soon
and have someone else entirely pay for it. So, if you’d like to drive the car of
your dreams and have someone else pay for it, stay on through the end of the
video and I’ll show you that too. So today, I’m going to be talking about
cars. You know, frankly a lot of you want to know when do you give yourself
permission, when is it time to actually allow yourself to buy a nice new car. And
I’ve got a couple of strong feelings on this. That’s why I’m making a video about
it. By the way this is my BMW i8. Probably one of the most fun cars I’ve ever had
before. What I love about it is that it’s convertible and yet it’s all electric
sports. Or there’s an engine in the back that I can turbo and freaking go fast.
I either drive it like a grandpa or I Drive it very irresponsibly. Not very
often. I like going fast. And so, it’s a fantastic car. It’s also kind of
sexy. I like it. Just… Its innovative. It’s a concept car, it’s fun. But I don’t pay
for this car. And I want to share with you at the end of this video why I don’t
pay for this car and how you can have a nice car way beyond your years of when
you should be able to afford it. But first, let me just kind of share this
principle with you. When you’re getting started on the game of investing, I think
it’s really important that you’re really careful how you spend your money. A lot
of people don’t know anymore how to delay gratification.
Parkin’s law says that we spend plus or minus 10% of what we earn. The younger
generation now, they want to have the nice car, the nice house. They want it all
now. Not realizing that if you fast forward 20 years, those things are going to
create such a debt burden and also more importantly, they keep you from having
discretional money to invest. My first 4-5 years of investing, I didn’t
own a single lavish anything. But after 5 years, I was able to move into a
multi-million dollar house. So, how did I do it? Well, I want to share
with you some advice that I got from one of my mentors, my first mentor. I remember
one day driving over his house because he was going to help me with my very first
property that I was going to buy. And his name’s John. And when I pulled up, I was
like, I’ve got excited. He had this brand new truck. It was like the biggest dually
cabbie eight wheel on the back. Crazy thing I’ve ever seen. And it was towing
a brand new monster boat. And I said, “Dude, John. That’s awesome.” He’s like, “Yeah, it’s
pretty cool.” I’m like, “Wow, how’d you get that?” He’s like, “Oh, it’s just… It’s just
paid for.” Like, “Dude, what are you talking about? What
do you mean it’s paid for?” And he says, “Well, Kris. I don’t buy nice things
unless I have assets that pay for them.” “What do you mean?” He says, “See that boat?
That boat is $600 a month. But I’m not paying it. Look at this house. I just did
this deal right here. And guess what the cash flow is. $600 a month. Because
Kris, when I want something nice, I buy an asset that appreciates goes up and
value and kicks off a cash flow to pay for the nicer things in life.” And that is
when I learned a lesson that was so meaningful to me. Every time I’ve gotten
a chunk of money. And in the beginning, it was hard to get that first chunk. But
when I got that chunk of money, I could have always splurged it on something
nice. But I never could allow myself. I would buy an investment and I’d allow
the investment to pay for my lifestyle. Every home that I’ve lived in has been
paid for. This car is paid for. My investments are supporting my lifestyle.
My livelihood and the way that I want to live. So you have 2 choices. Either you
don’t learn to invest. You better be a penny pincher. And remain super frugal
and hence in time, you’ll know when to get a new car. And it won’t be for a long
time. Because you should buy a beater, you should buy an old car,
you should run it into the ground. When the expenses get too much you, should
sell it and get another used more reliable car. That’s what Dave Ramsey
would say. And frankly, if you don’t have a plan to invest, I would agree with him.
But if you say, “Wait a second Kris. If you’re telling me I can have that or a
nice house or start world travel or start having the nicer things in life by
becoming an expert investor, then I want that path.” It is faster but it is the
road less traveled. Because you know what? It’s just easier not to. And
unfortunately, we live in a world today where people are way more into ease than
anything else. The reality is I do not need this nice car for me to be happy
and feel good. But I do like that because I’m so good at making money that I have
options in life. I have this money to give to charity. Like I’m putting on
$100,000 event for free. And I’m doing that out of a spirit of love. And frankly
because I can because of the success that I’ve been able to have in my life.
And it all came about because I learned the game of investing. Now by the way,
when should you get a new car? Now, you have 2 options. One is probably likely
in many many years. And one is it could be sooner than you think. And if
you want it to be the latter then you have to learn how to invest. Click the
link below. Get with me and my team.Aand I’ll show you how to buy a house and
make a $500 month cash flow. You buy 2 of those houses. Now you have $1,000 a
month budget for you to drive a nice car. Or you could reinvest it for the first
5 years which is ultimately what I would do if I were you. The next 5
years, making your 5 years to get ahead. Make it your 5 years to delay
gratification. Make 5 years to say, “I went through a period of my time where
I was disciplined with money. I put it into my investments. And now my
investments are all coming back. And I can live the lifestyle and I want.”
Friends, that is the secret to how you’d live and drive the car of your dreams on
your terms. Thanks for watching. Make sure that you subscribe and I look forward to
catching you on tomorrow’s video.

About the Author: Michael Flood

24 Comments

  1. Hey Kris, I ordered the free book a week ago and it still hasn't come in the mail. Do you have an idea of how long it usually takes to ship?

  2. Dam I appreciate this guy so much. He’s a life coach who kicks real game. Realistically. I’m learning a lot of ways to help change the way I think to be successful. It all starts with changing your mindset

  3. Yes but kris, I'm glad you had the knowledge early, but what do you say to someone who have the knowledge now but in a hole financially with lots of responsibilities? Help are hard to find these days, like you said, that chunk is hard to find to get the ball rolling.

  4. Okay I’m pretty sure I know the answer to this one, the same answer he gives in all his videos now; BUY MY PROGRAM 😂
    Let’s find out…

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