August 10, 2011 (The Dave Ramsey Show)

"If you’ve got a million dollar net worth or more and you wanna buy a new car and you’re paying cash for it I’m okay with that, otherwise you really cannot financially afford the hit that you’re taking because you’re gonna buy a $30,000 car and it’s gonna be worth in 4 years $11,000. That is the average and you can’t turn 30K into 11K very often and get ahead unless you’ve got already a lot of money" Dave Ramsey