Duration 14:1

Casey shares 3 ways people lose their MONEY on CARS

by Casey the Car Guy

6 835 watched

541

Published 10 Aug 2021

Casey Putsch speaks about 3 ways people lose their money with cars. When is depreciation, racing, and or modifications and acceptable cost and when will they keep you broke? Casey speaks candidly while driving a 2001 Aston Martin DB7 V12 Vantage coupe. Crushproof Tubing is this month's sponsor and a leader in tubing and hose manufacturing which has the necessary products to run cars indoors safely. Check out their site and products in the links below! Crushproof Tubing Company https://www.crushproof.com/ Buy exhaust evacuation hoses and kit! https://exhaustaway.com/ Donate to the Genius Garage educational non-profit here! http://www.geniusgarageracing.com Follow Casey on IG! Instagram @caseyputsch https://www.instagram.com/caseyputsch Follow Casey on Facebook! https://www.facebook.com/caseyputsch/

Category

Comments - 88

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@CaseyPutsch3 years ago What’s up people! Here is literally the best video I’ve ever made to keep people on the right track. What did you think the best part was? 20
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@RandomGuyDan3 years ago There is a reason that historically racers have come from wealthy families. 29
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@invujerry3 years ago I approach every vehicle purchase as if I’ll be the final owner of it. Buying aftermarket parts used whenever possible, and doing my work myself has saved me a lot of money over the years while still giving me the enjoyment of vehicle ownership and modifying. ... 12
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@marcstephan76503 years ago I was in business for 45 years restoring and building custom cars for customers. They were all upside down financially for them. I also built cars for myself that were a loss. Life has to be fun also and it was for me. 4
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@thunderocker3433 years ago I love watching Casey drive while giving tips. That'as good as it gets for me 4
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@pas-kv8ud3 years ago I don’t think of the money or value of the car when spending money on or working on my car. I don’t expect to get that money I put into it back either. I do it because I love it. 10
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@keithmason93423 years ago Thanks Casey for the heart to heart and plain talk that is refreshing to hear. You always give sound advice. It may not always be what people want to hear, but what they need to hear. You really do care for your viewers and young people trying to get started in life. Genipus Garage speaks for itself. Kudos to you sir. Thanks as always and keep up the good work. ... 4
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@ruso21533 years ago Doug this morning “i buy unreliable cars because i’m rich” now this 6
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@KoreyConstable3 years ago Sometimes one has to burn bridges in order to experience an highly desired experience. My fear is that certain experiences may not be worth the bridge burning. 3
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@Neichus3 years ago I bought my first car so I could learn about cars and how to work on them and save my future self, my family some money on labor and such. Recently, probably the biggest accomplishment after the fact was that I put what I learned into practice and went to negotiate to buy my little brother's first car. Saved him a couple of thousand $$ and got him a good deal. The only thing is, Casey said something about time and the value of your hours. So is it worth it to work on what you love (cars) and save on labour cost or pay someone else that labor $$ so you keep your time... That's one thing I need to learn over time. ... 1
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@taratajika3 years ago Good video. Your rotors are warped though. I can see the shake during braking. That usually happens because the callipers have gotten stuck in some weird position, causing uneven wear on the rotors, which causes vibrations in the steering wheel when stopping. Probably need to rebuild them. ... 5
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@Last_Responder3 years ago I've been lucky, but my "fun cars" will never appreciate. Not highly sought after. My cars will never be sold, they will be driven until they are no more. 6
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@thman64533 years ago What do you get when you polish a turd? You end up with a shiny turd. Words of wisdom 👍 1
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@chrisej59873 years ago The cars I lust after that I've so far obtained I found to be perfect the way they are for what they are. Sure some things could be 5-10% better here or there, but certainly not so in need of upgrading that it justifies thousands of dollars in modification. ... 5
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@OllamhDrab3 years ago As a car person of poorness, I certainly care little for 'depreciation' in my own stuff. The time equation of course holds true: if I can afford it at all, I will have to do a lot of work on it. Therefore I won't buy anything I can't love in some way. It doesn't have to be the best thing ever or some kind of successful 'flip,' but the love has to be there. The only time I've ever worried about resale was when I was buying a no-start-no-keys Datsun s30 type with all the money I had from a police auction (back when they were so cheap) and knowing I could part that out if the motor was just gone or something and try again. (Actually the little guy had no problems to speak of so off we went.)
I've been involved in some bottom-feeding wheeler-dealering where the customers just wanted a 'car that goes' so we'd make cars that don't go.... go... (Also had a scheme to upgrade Bugs for college students when those were still cheap, but my partner in that kinda died. As for me, if I had all the money I could want dropped in my lap, I probably still wouldn't be buying new cars to worry about depreciating much. I don't think I want any new cars anyway. It reminds me of some other youtuber selling a nearly-stock Japanese 180 set up with, well, pretty much the mods I'd want to do for the street, and even with a drift/stancer tax for those not-wanting to pay the 'JDM tax' to ruin all those good attributes, a price that crowd considered newly-outrageous for something to probably ruin, (Something like 22 large, but with a near-pristine interior like you don't see anymore, and ....sensible mods.) If I'd have had the scratch, I'd have considered that a very reasonable price and never paid the 'drift tax' again. The old adage, 'Pay for what you want, or pay twice.'
(Also I'm a roughtly 50-year old gal and remember when the American version of those was considered 'Girl car.' People blow shit up on dynoes on Youtube all the time, but an SR20 and suspension and HKS stuff I can adjust would be, I'm sure, more than adequate. :) It's like how flippers kept making offers on my Volvo when there was a 'hipster tax.' Big offers, too, but I was like, "I can't replace this car for any price you might turn a profit on." )
I mean, if I was in you and your wife's income bracket, I'd probably pick that 180 over, say, a Maserati. Moneys are moneys and happies are happies. The connections between are often indirect at best. ... 2
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@SW0000A3 years ago I just want to add something on cars. There will be hardly any cool cars if everyone follows your advice. If they aren't sold new they won't be there to buy used. So you can lead to the destruction of the enthusiast market. But what you like and can afford. Some times it is worth losing money to depreciating if you get exactly what you want if you can afford it. Obviously don't get on the new car every two years treadmill either.
Another thing I definitely recommend is buying new on sport compact cars so you don't get a thrashed one. If you are getting a used sport compact it is either new or so old they are dirt cheap. Nothing in between. ... 3
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@brett2themax3 years ago The irony that you made this video in an Aston Martin is hilarious. 1
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@surferdudehb3522 years ago The only new car I would buy is a 1995 Viper. I found one with 65 original miles and would rarely drive it but for me its my dream car.
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@fila14453 years ago Casey, front brake rotors are warped ?
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@DaftFader3 years ago Mr2 spyders have that exact same issue as you describe gallardo's having with the cats. In this case it's the pre-cats built into the stock header. People will often use it as a selling point that they already dealt with that known issue by changing to a catless headder. It doesn't really increase their value, but then they aren't really worth anything to begin with lol. Any change in price as a result of the mod is swept away by market noise. ...
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@mexicanhalloween3 years ago I thought you were about to explain use value and exchange value using linen coat production as an example
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@TruckandTravel3 years ago New sub. I live 5 miles from your sponsor. 1
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@tbtedi84263 years ago warped brakes? whats with the shakes
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@DFisk753 years ago Listen to casey jeep guys all those fancy lift kits and big tires and bumpers don't make your XJ worth $15k when the body looks like crap. 2
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@rotorblade95083 years ago I bought a car for 12k then after 2y wanted to sell it and got offered 9k but then I’ve spent 7k on maintenance so I can sell it with 14k (average market ask price) then 2k new lsd, 4k brakes and now it’s worth 5k because it has like 12 accidents broken bumper and headlights 😂 Shall I repair the bumper and headlights (3000k) sell it like it is or keep it? The market ask price is 16k for a car like that with no accident history ...
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@fila14453 years ago i hate watching all the cars i wanna own just drift away from my price range as fast as Takumi Fujiwara :/ 2
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@MrKushinator4203 years ago You never take into consideration the joy and experience you get out of driving the build you have created. Sometimes that is worth more than the money ever was.
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@dcgregorya54342 years ago Lot of people saying "I never consider the value of the cars I work on" and its like...yeah...he's trying to teach you how to do that so you can have the same amount of fun but also get wealthier overtime. Unless a car you're buying is your one and only love in life you're hurting yourself by doing this when you could be having just as much fun and also making money. ...
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@tycorcoran69653 years ago Porsche 944 S2 and Lexus LS400. They do a good job in my fleet and I am never going lose money on them. The VW transporter SE, 7 years old now and still going strong so we may have lost money buying it new but she is going to be around for a few years yet so I think we have escaped the money trap cars can be - mostly ...
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@glynnjohnson21943 years ago Man knows what he's talking about!
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@surferdudehb3522 years ago A low mileage gen 1 Viper is def a smarter choice and in a rare color.
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@944tim3 years ago excellent bit of knowledge to think hard about. . I had to stop and rewind the video and NOT watch, because I was being distracted by the background.. Driiving down those Ohio farmland roads, except the 'McMansions" , each with their acres of green lawns and long driveways.. I understand the economic pressures that converted this land from farm and croplands to being broken up under bankruptcy and the younger generation not wanting to doom their lives to a failing career.
This has nothing to do with your 'essay' on losing money on cars/investments/property. That part was well thought out and interesting. Thank you for sharing wisdom. ...
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@DriveSMR3 years ago Oh the shifting into such gears hurts me....I cruise in high 2nd at best. No way could I or would I shift up into 4th just to save some money in my Subaru lol. So there's why I never have any money
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@warrenbutson84913 years ago Guess that means I'm second lol just randomly looked at my phone and saw this 😂
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@Last_Responder3 years ago I wouldn't mind going racing, would love your input of 24 hours of lemons? Racing 500$ cars.. granted we both know it's going to be much more, but might be more attainable for someone with less means that just wants the experience.?? ...
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@AoiKaze20003 years ago How does the mod math change if the intent is to (as heretical as this may be) keep the car until the wheels fall off and the car is paid off?
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@lanem2533 years ago Where was this video three months ago when I started building a car? Lol, anymore building/modifying cars has become more for people who intend to keep their projects until death do they part. 1
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@motojunkie83483 years ago 3 things that keep you poor.
1. Dodge
2. Ford
3. Chevy 2
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@gaydes10123 years ago I bought a $500 truck to restore with my dad and somehow fell face first into a car that's actually going up in value, I'm not gonna fucking sell it but it's worth more than $500 now!
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@PS_on_youtube3 years ago I like watching Casey's videos, but I disagree.
99% of the time a car is NOT an investment. They are liabilities. The cars Casey is talking about high end sports cars, these types of cars cost a lot of money to insure and properly maintain.
High end sports cars are definitely cool, but NOT where I'd put my money for investing. ... 2
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@ScottSchubel3 years ago Start a ChampCar team with a friend. Help weekend costs with pay driver income. Enjoy life
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@E.T.GARAGE3 years ago Most people just buy cars to get to work. 1
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@bradfordjeff3 years ago Boo. The fool talks about how to live one's life. The wise man lives it. 2