Don't Ever Buy a Car

In this class, content about: personal finance, investment. 
American accent / sotaque americano

Vocabulary list:

Now, watch the video:

We recommend you watch the video at least twice.

In the first time, pay attention to the use of the vocabulary presented above.

Before playing it for the second time, take a look at the questions below. After watching it, try to answer them correctly. 

1. According to the video, when should you buy a car?
(a) if you need it to go to work everyday
(b) if you like to travel with your family
(c) when it costs less than USD 25,000
(d) never

2. According to Kevin O’Leary, why do cars cost a fortune (0.14s – 0.30s)?
(a) Maintenance
(b) Insurance
(c) Amortization
(d) All the above

3. What is he going to do once his lease is over?

(a) Return it to the dealer
(b) Get a brand new Mercedes SUV
(c) Rent an old Mercedes SUV
(d) Drive for Uber or Lyft.

4. In this video, Kevin gives a piece of financial advice. Which of the alternatives below is correct?
(a) People should pay-off their debts by not buying stuff they don’t need.
(b) You should lease instead of buying a car.
(c) A car is not an investment, but if you need it to drive to work everyday, you should own one.
(d) The best scenario is to only use your car to travel and use Uber to go to work.

Check the answers at the bottom of the page.

Practice Your Listening Comprehension and Writing

Do you agree with Kevin O’Leary, or do you prefer to own a car?

58 respostas para “Don’t ever buy a car”

  1. I agree to the right point, because is necessary decrease the circulation the car in the streets and great the traffic.
    But is complicat in case for travel more long, due to the price dinamic.
    Obs: I am learnig, my write is basic.

    1. Hi Deise,

      Thank you for sharing your point of view!

      Let me just correct some points below, in order to help you to improve your writing 🙂

      Here is the text with my remark in italic:

      I agree to the point, because it is necessary to decrease the circulation of cars in the streets and improve the traffic.
      But it is complicated in case of long trips, due to the price dynamic.

      Good job. Keep participating!

  2. I agree with the topic, however I think that a lot of people don’t use ride-sharing because is more comfortable to use your own car. I live in a little city and to use Uber is not common.
    Thanks a lot.

    1. Hi Sandra, I totally agree with you. In my opinion, convenience and comfort play a really important role in this decision.
      Thank you for your contribution to the topic.

  3. When someone talks about not have a car and brings up several reasons for that it’s easier to understand how is better avoid to buy a vehicle in terms of saving money, but for me this decisions depends on how each people live and what they feel when buy a car (talking about status for example).
    Overall I agree with him and nowadays I don’t have a car, actually I had to sell it 2 years ago (it was a necessity), however I don’t think to buy another one and prefer to take this money to travel or do whatever I want. Ride-sharing bring me this opportunity.

    1. Ride-sharing really took this discussion to another level and a lot of people that had never considered the possibility of not owning a car, have already made the choice to sell their cars.

      I think your moment in life plays an important role as well (if you have kids or not, how far from home your work is, if you travel a lot by car and so on.

  4. When it comes to comfort and availability I disagree with him because it is much more comfortable to have your own car and that it is right there for you in case you need it immediately as well, but as all coins have two sides thinking in my pocket and in the planet is better not having a car, since it is too expensive and I prefer to feed my assets not my liabilities. About the planet cars are not so polluters as livestock, but as fewer cars on the streets better. Overall ride-sharing is an amazing point to reckon about.

    1. Hi Jessica, I agree with you. In terms of convenience, comfort and in my opinion privacy, owning a car is the best alternative.
      Financially, his point is undeniable and you added something important that is the pollution aspect.

  5. In my opinion, it is necessary to calculate your expends. For instance, if you will not use your car a lot and receive from the company either help (financially) to take the bus or even pay for a ride-sharing so, don’t buy a car, only to stay at the garage. However, if you use it and you can even earn money buy it indeed.

    1. Hello Veronica!!
      Absolutely. If you use your car to make money, then it makes sense to buy one.

      PS: just a few comments:
      – calculate your EXPENSES (and not expends)
      – and receive an ALLOWANCE from the company to take the bus…
      – then don’t buy a car (not “so”)

  6. It depends! If you live in a city that has a good public transportation, maybe you dont need a car, but if you dont live, and you can, I think you must to own a car.

    1. Hello Maria!!

      You are right. And this is true in many Brazilian cities, right?
      In São Paulo for example, depending on where you live and where you work, having a car is quite necessary.

      PS: you must own a car (TO is not used here)

  7. It’s difficult to have just one opinion, if we just think about save money, I agree with him but when we have São Paulo as our current scenrio I’m not able to answer it. We dont have a good traffic, but we even dont have a good public transport.

    1. Absolutely, Marcela. Depending on where you live, a car is indeed very important.

      PS: just a few things:
      – if we just think about SAVING money
      – and we don’t even have a good public transport

  8. Hi, my answers:
    1) d
    2) d
    3) a
    4) a
    American culture is different. But of course having a car gives you a certain convenience, but I see many people selling their cars to save money.

  9. Sharing places or using alone the app car services works depending on where you live and where you go, also depends if you are calling in the rush hour, when it is much more expensive. I believe that abroad the alternatives are cheaper, but here is still expensive to lease or even to get a uber one. To lease a car is good for traveling, Uber is good to short destiny, and to own a car is good to get your freedom to decide the time, speed, route and distance.

    1. Hello,
      It’s a deep question and always depend by lifestyle each person.
      In my book Kevin is correct and presented us good arguments. He has a point, but I prefer to have my own car because my family and to be convenient and comfortable.

    2. You are right, Leon. It depends on several factors!!

      PS: just a few things:
      – it also depends… (missing “it”)
      – but here it is still expensive (missing “it”)
      – or even get an uber (“an” instead of “a” and there’s no need to write “one”)
      – Leasing a car (and not “to lease a car”)
      – Uber is good for a short distance (better than “destiny”)
      – and owning a car (and not “to own a car”)

  10. In my book, have a car is important, because I live in a city that don’t have a good public tranportation. Unfortunately.

    1. Hello Patricia, I know how it is! It’s hard when the public transportation is bad.

      PS: I live in a city that DOESN’T have… (instead of “don’t”)

  11. Many times, I didn’t feel comfortable using share ride services because of this reason I prefer take my car in some cases. On the other hand, I don’t care about the parking, I can do something while being in traffic and I save some money.

  12. Well, 3 years ago I had the same idea of Mr. O´Leary, as the violence has been increased in Rio de Janeiro city, auto insurance value becames unpayble as well as taxes and gas. My car was a Honda Fit, nice engine, I had no issues regarding it, but the maintenance is expensive principally because of bad roads: tires, wheels and bumper live no longer.
    I go to work by train and subway, the school is close so my son, a teenager, always walk to there and my husband work from home and use public transport or UBER to visit his clients. I know the car is confortable to families with little kids, old people or needed people as it provides a freedom choices, change of mind in the middle of way on UBER trip is not easy to manage, but I am not in these situations and we like to plan our outing in advance.

  13. I agree with Leary. But I think that can be dificulty for the people that use your own vehicle everyday and begin to share- ride services.

  14. I agree with Kevin that a car ownership is costly and inefficient. There are ways to get places without your own car. We can use ride-sharing instead of drive and save money, time and also it’s possible to do something like a call during the ride while we are not driving.
    But in my opinion, a own car can make life easier and fast to travel if you are in a hurry, for exemple.

  15. He probably didn’t comment about the fuel cost because it is much cheaper there than here in Brazil. Besides, here we struggle with the abusing prices that manufacturers want to impose on consumers. Not only are consumers fall for their racket but they are also like to show off what they have. What a shame!
    Since I’ve started to use share-riding services I got only advantage! It’s do really much better

  16. I partly agree with Kevin O’Leary. In in Brazil, mainly in big cities, share-ride services are too expensive, so it depends how often you’ll use this service or the distance you’ll have to go. And as we have a chaotic traffic in São Paulo, ride -sharing could be a better alternative.

    In terms of convinience, I think it is much better have your own car, because it brings comfort and freedom.

  17. Having a car, it isn’t a good option nowadays, because there are a lot of expenses and we have to deal with traffic jam in everywhere we go. Sometimes, we get nervous and stressed with some situations. For example: rude people on the street, mainly in city centers… I agree with him, and if we don’t need a car, don’t buy it! Otherwise it’s comfortable mainly if you have a big family with children …

  18. I agree, cars generate a lot of costs, including the taxes we pay to buy and maintain.
    I have a car out of necessity, but whenever I can, I use public transportation.

    Answers: -1d / 2d / 3a / 4a

  19. Considering the vocabulary presented above, it was a little bit easier to understand the vídeo.

    Having your own car allows you to do what you wanna do at anytime. And it is much more private, of course.

    All my answers were correct!

  20. Hi everyone,
    I agree with him, I have a very old car (2002) that my husband uses to transport things of his work everyday. But my family don’t need one we use share services like Uber.

    The answers:
    1 d
    2 d
    3 d
    3 a

  21. Hi everyone,
    I agree with him, I have a very old car (2002) that my husband uses to transport things of his work everyday. But my family don’t need one we use share services like Uber.

    The answers:
    1 d
    2 d
    3 d
    4 a

  22. Nowadays I think most of people are changing their mind about this. In fact, it is very expensive to have a car, mainly if you live in a big city.

  23. I think that Kevin is right if the choice is based only in the financial cost. But when you live in a dangerou city as Rio de Janeiro and you have a son, you should consider that share service could´t be the best option. In my case I prefer to have a car.

  24. Hi Augusto and Ho,

    After saw this video and with the current pandemic scenario, I’m definitely won’t buy a new car, and from now on, I will use Uber or Lift.

    I’m enjoying the classes!! See you later, folks!

    Best, Bete

  25. I agree with Kevin. I don’t know to drive and it is not a problem. I and my wife call a Uber when need more comfort or speed to go somewhere. I think that haver a car may be important if you have babies or a old person in house.

  26. In my opinion, you must calculate your expends before decide it. Because if you go to work by car and your work is far from your home, can be so much expensive to take a cab or a Uber every day. If you like to travel at weekends with your family, can be so expensive too, if you don’t have a car.
    It’s so confortable and easy to have a own car and go where you want.

  27. Hello everyone!
    I agree with Kevin, because use Uber is more practical and we don’t need spend so much money on own car expenses. But I think that when we have a baby, having a car is necessary.

  28. I bought my current car two years ago, and after settiling it there was a big depreciation of its sellings price. But I think that in the city that I live, there isn’t efficient public transport.
    The answers :
    1 d, 2 d, 3 a, 4 a.

  29. 1- c
    2 – d
    3 – b
    4- d

    I agree with him. Because, in Brazil is very expansive buy a car and pay the maintenance and insurance costs. Amortization reduces a lot, the market value of the cars.

  30. 1) d
    2) d
    3) a
    4) a

    Do you agree with Kevin O’Leary, or do you prefer to own a car? Why?
    I agree with him. In my book the costs of own a car doesn’t worth the benefits of own it if you have other possibilities to do the same. Besides, we can talk abot another takeway, using sharing-services is important to save enviroment resources and decrease polution.

  31. I agree that it is very expensive to have a car, mainly if you live in a big city, on the other hand if you live in a smaller one it is difficult to find a Uber anywhere, anytime.
    So it is necessary to have a B plan if you don’t want to spend your life on the bus stop.
    Also, in Brazil we have a public security problem that must be considered.

  32. In some points I agree with Kevin.
    Currently, I need to have my own car once I work far away from home. However, I try my best to share-ride with my work-mates to save some money and also take care of our planet.

  33. I agree with Kevin, nowadays I don’t have a car and I don’t intend to buy anymore. Very happy with this decision and see that a lot of people agree too.

  34. In my opinion he is correct, I agree with him.
    I lives in a countryside house, so I do not have a good access to public transportation. Uber is option, but I had problems with it also, so I have to have a car. However, It hasn´t to be my own car and it will be my option, I will not change the car, I intend to rent one.

  35. Hello Guys,

    It was awesome, I identify myself a lot with him, I don´t intend to buy a car and I don´t have a driver’s license as well, in my point of view, the car gives us many debts, all the debts that the explainer said in the vídeo.

    – Share-ride services it has been one of the best alternatives nowadays, I worked with some board people that do not have a car, including people with a high salary.

    – Maintenance and Insurance in Brazil are very high, I don´t intend to buy a car.

    – When we buy a car this kind of goods has a high tax rate of amortization/depreciation, so, in my book it is one of the worst investments that someone can be done, in my point of view, it does not an investment and sure a loss of money.

    – I never do a lease during my life, especially for a car.

    – Puppy to me is a good investment (FIIs / Stocks and the other).

    – If we don´t buy a car it can save a fortune, no doubt.

    – Hardly ever had an idea to buy a car.

    – When my colleagues say about this idea to buy a car, I´m gonna pass.

    – I intend to have my own business.

    – Buy a car can generate high debts with insurance, maintenance, and oil, nowadays it is very expensive.

    – Don’t get stuck parking USD 25,000 in a car I agree a hundred percent with this quote.

    Nice day for us.

    1. Hello Matheus!
      Interesting! And yeah, cars are expensive in so many ways… hehe

      Some corrections:
      – identify a lot with- identify myself means to indicate who or what you are- please watch https://businessfluency.com.br/como-dizer-identificar-em-ingles/
      – Share-ride services have
      – insurance costs
      – one of the worst investments that someone can make
      – is not an investment
      – better: I’ll never lease anything in my life, especially a car
      – stocks and others
      – Puppy to me is a good investment – Puppy was only used in the video to refer to the car in a generic way, like when we say “baby”, ok?
      – we can save a fortune
      – I’ve hardly ever had an idea to buy a car
      – when my colleagues talk about
      – Buying a car

      Matheus, have a lovely Friday! 😉

  36. I totally agree with him. However, after covid-19 many second hand cars has increased its value and became an investiment. In general cars is very expensive and in a normal situations decrease its value.

    1. Very good, Diego.

      I agree with you that currently there is a market in which some specific cars get more valuable and can even become an investment.

      Just some few tips (in bold):

      However, after covid-19 many second hand cars have increased their value and became an investment. In general cars are very expensive and in a normal situations decrease in value.

  37. I totaly agree with him, in theory at least. In fact, a car is not a kinf of investment, just like a house our an apartment. When the interest rate is high, like today (June, 2022), even if you choose fixed income securities (* títulos de renda fixa – coloquei no google translator esse termo rs), it is better than buying a car. But, if you live in a city like Brasília (like me), you can´t depend on public transportation (it´s terrible!) or Uber, because nowadays even Uber is getting hard to use. Unfortunately.

    1. Hello, Barbara!
      I understand your point. Unfortunately in Brazil the reality is quite different, and we can’t always rely on public transportation, right?

      – totally
      – kind
      – a house or an apartment

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