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Veterans Affairs Millions Under Market Value | 7-Year Car Loans · The Bill Handel Show

• 0:01
  Speaker 1: You're listening to Bill Handle on demand from KFI AM
• 0:05
  Speaker 1: six forty.
• 0:07
  Speaker 2: Don't wait, I am six forty bill Handle.
• 0:11
  Speaker 3: Here. It is a Wednesday morning, November twelfth, waiting for
• 0:14
  Speaker 3: the first big big rat in a long time come tomorrow. Also,
• 0:18
  Speaker 3: coming up the top of the hour eight o'clock, you're
• 0:20
  Speaker 3: going to meet Janett. I've been talking about her son
• 0:23
  Speaker 3: in law, Odawn, who was a photographer my daughter's wedding
• 0:28
  Speaker 3: and was picked up and deported to l Salvador. And
• 0:32
  Speaker 3: I'll tell you that the story itself is kind of interesting,
• 0:35
  Speaker 3: but it gives us an idea of what actually is
• 0:37
  Speaker 3: going on out there, whether good or bad, depending on
• 0:40
  Speaker 3: how you feel about it.
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  Speaker 2: Okay, that's up at eight o'clock.
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  Speaker 3: Now, Veterans, if you've ever been to West la you have,
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  Speaker 3: of course the Veterans Cemetery, which is enormous one on
• 0:52
  Speaker 3: Supulvita Boulevard and down near Wiltshire and then across the
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  Speaker 3: street is the Veterans Administration, huge attract of land. Now
• 1:02
  Speaker 3: keep in mind that land that's owned by the government
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  Speaker 3: or the Veterans' Affair Department Veteran Affairs is there for veterans.
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  Speaker 2: Does that make sense?
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  Speaker 3: It's there for the purpose of veterans. Well, let me
• 1:16
  Speaker 3: tell you what is actually going on on some of
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  Speaker 3: that land. UCLA, the Brentwood School, a very high end
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  Speaker 3: private high school, and a parking company are paying two
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  Speaker 3: point three million dollars to lease land from the Veteran
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  Speaker 3: Affairs land that's owned by the government. So let me
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  Speaker 3: give you some figures. They're paying two point three million
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  Speaker 3: dollars a year. The market value of the annual rental
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  Speaker 3: of those properties is forty eight million dollars. That's according
• 1:51
  Speaker 3: to a report that was just filed, and it was
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  Speaker 3: filed with the Ninth Circuit Court of Appeals because there
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  Speaker 3: is an appeal going on and the the VA is
• 2:03
  Speaker 3: now looking at and switch this position because the court
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  Speaker 3: ruled last year that those leases were just done nullified,
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  Speaker 3: and originally the administration said, okay, that's okay with us,
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  Speaker 3: and now they're part of the appeal, it's not okay
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  Speaker 3: with us. And not only did the judge did the
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  Speaker 3: court nullify the leases, but ordered that twenty five hundred
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  Speaker 3: units of temporary and permanent housing to be built for
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  Speaker 3: veterans on that property.
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  Speaker 2: I mean, it's huge. Three hundred and eighty eight acres.
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  Speaker 3: Of course, the VA appealed the decision, and now it's
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  Speaker 3: gone the other way, and in May the President issued
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  Speaker 3: an executive order calling for the VA to provide housing
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  Speaker 3: for six thousand people on the campus, which is an
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  Speaker 3: actually escalation of what the court said. And so here's
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  Speaker 3: the premise here is that somehow you had these three
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  Speaker 3: entities UCLA, the private school Brentwood, and a parking company
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  Speaker 3: that leases the land for parking is a for profit organization.
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  Speaker 2: Of course, that the government, the VA.
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  Speaker 3: Not only is that land not being used for the
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  Speaker 3: benefit of the VA or veterans, the government is getting screwed,
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  Speaker 3: beyond screwed. The annual fair market rent would be thirty
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  Speaker 3: million dollars. That's paid by or should be paid by Brentwood.
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  Speaker 3: They put their athletic facilities there twenty two acres, that's
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  Speaker 3: thirty million. UCLA has its baseball stadium there, that's twelve
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  Speaker 3: million dollars a year rental. And then Safety Park has
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  Speaker 3: two parking lots and that's worth five hundred and eighty
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  Speaker 3: eight million dollars. Total forty eight million dollars. So as
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  Speaker 3: of September of this year, the VA received a combined
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  Speaker 3: total of one point seven million dollars in annual rent
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  Speaker 3: from those leases. So let me get this right. One
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  Speaker 3: point seven million dollars they got market value is forty
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  Speaker 3: eight million dollars a year.
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  Speaker 2: Yeeha.
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  Speaker 3: Tell me that we the taxpayer. We the government part
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  Speaker 3: of the government. Of course, taxpayers is not getting screwed.
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  Speaker 3: And the I mean the rents are ridiculous, I mean
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  Speaker 3: they're so low. Now, the Brentwood School said, wait a minute.
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  Speaker 3: Not only do we pay rent, but we also offer
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  Speaker 3: in kind services because the veterans can use our facilities
• 4:41
  Speaker 3: and we have a family resource center and a mental
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  Speaker 3: health and addiction center. So the Brentwood School said, okay,
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  Speaker 3: so we have a great relationship with veterans and the
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  Speaker 3: federal government because we're growing to meet the needs of veterans.
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  Speaker 3: And they pointed out, look what was done. Since since
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  Speaker 3: October one, more than three thousand meals to veterans have
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  Speaker 3: been served in several programs. Okay, that's over since October one,
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  Speaker 3: October November three thousand meals, which it seems to be
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  Speaker 3: a lot, but it ain't much. They also taught classes
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  Speaker 3: like computer skills and forklift certification, and the all time
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  Speaker 3: winner on this one. In a defense of not paying
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  Speaker 3: market rent is we provide movie nights for veterans as
• 5:30
  Speaker 3: well as fitness classes.
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  Speaker 2: Therefore, leave us alone.
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  Speaker 3: After getting this report, the House Committee on Veteran Affairs
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  Speaker 3: at chair blasted the VA and particularly UCLA. UCLA It's
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  Speaker 3: baseball stadium is there, Brentwood has its athletic field there.
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  Speaker 3: The parking lot company has two parking lots. Let me
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  Speaker 3: tell you go, I've parked there. I don't see many
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  Speaker 3: veterans walking around that are being helped by that parking
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  Speaker 3: lot so or those parking lots. So the bottom line
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  Speaker 3: is this is just one more place we're looking at.
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  Speaker 3: You know, when you see waste and fraud and you hear,
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  Speaker 3: you know, every politician saying waste and fraud, which is
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  Speaker 3: for the most part crapol. Do you know that sometimes
• 6:23
  Speaker 3: paranoid people really do have people going after them, you know,
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  Speaker 3: it occasionally does happen. That's what's happening here, waste and fraud.
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  Speaker 3: The VA is getting screwed. Not only is it land
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  Speaker 3: being used for these private purposes, but the rent. It
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  Speaker 3: is getting one point seven million dollars for forty eight
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  Speaker 3: million dollars of market rent and of all the organizations
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  Speaker 3: that least deserve getting screwed over, of course, not that
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  Speaker 3: they all don't, but the VA veterans particularly. All right, now,
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  Speaker 3: this is I love this story because this is a story.
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  Speaker 2: It's about Gavin Newsom.
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  Speaker 3: And I know a lot of people think that Gavin
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  Speaker 3: Newsom is this cheap, duplicitus obvious politician who will do
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  Speaker 3: anything and everything to create a platform for his running
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  Speaker 3: for the president. Well here's a story in which Gavin
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  Speaker 3: Newsom is a cheap, duplicitous son of a bitch running
• 7:30
  Speaker 3: for the presidency. And it is so obvious, and it
• 7:33
  Speaker 3: has to do with the United Nations Climate Conference in Brazil. Actually, Belem, Brazil,
• 7:39
  Speaker 3: Bellm is a really neat place. Bellm is a gateway
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  Speaker 3: to the Amazon. It's up in the north east part
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  Speaker 3: of Brazil. And you can actually get on a cruise ship,
• 7:50
  Speaker 3: a cruise ship out of Belem and go three thousand
• 7:54
  Speaker 3: miles into the Amazon along the Amazon River to Manaos,
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  Speaker 3: which is in the middle of the jungle, a big,
• 8:01
  Speaker 3: huge city in the middle of the jungle. And I
• 8:04
  Speaker 3: have done that, And if you ever have a chance
• 8:06
  Speaker 3: to do that, please do that. Because you go through
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  Speaker 3: these jungles and foliage, and it's fascinating for the first
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  Speaker 3: ten minutes and then it's exactly the same for the
• 8:18
  Speaker 3: next three thousand miles. Yeah, and people pay money to
• 8:23
  Speaker 3: do that. Just want to point that out. So in
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  Speaker 3: any case, there is the United Nations Climate Conference. It
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  Speaker 3: happens every year in a different city. And California is there,
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  Speaker 3: and Governor Newsome is there, and you go, wait a minute,
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  Speaker 3: this is an international climate conference of countries that are
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  Speaker 3: there to sign agreements and talk about cooperation. What is
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  Speaker 3: a state doing there? Now, there's two sides of that coin.
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  Speaker 3: California likes to think of itself as a nation. Well,
• 8:57
  Speaker 3: we have the fourth largest economy in the world. We're
• 9:00
  Speaker 3: very nationike And Newsom likes to think of himself as president.
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  Speaker 2: So he is there. He'd never been there before.
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  Speaker 3: He's always sent people to this conference, but he's never
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  Speaker 3: been to it. This time he is there, and he
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  Speaker 3: is one of the players, or at least he thinks so.
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  Speaker 2: And actually, you know what the reality is.
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  Speaker 3: He probably is because California is the big gorilla in
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  Speaker 3: the United States in terms of states. Also it is
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  Speaker 3: the big gorilla in terms of climate change and how
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  Speaker 3: it approaches alternative energies and reduction of fossil fuels.
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  Speaker 2: I mean, California is at the forefront of all this.
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  Speaker 3: So the argument is, even though the California is the
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  Speaker 3: state does not have the ability to even be in
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  Speaker 3: the same room when these deals are cut between countries,
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  Speaker 3: it is a big enough player that the world.
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  Speaker 2: Pays attention to it.
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  Speaker 3: And in fact it is California does have a deal
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  Speaker 3: with Denmark, for example, an official treaty because you don't
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  Speaker 3: have states treaty deal in treaty fashion with countries, but
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  Speaker 3: they do exchange information. Denmark has a lot of technology
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  Speaker 3: that California uses once to use and the same thing
• 10:16
  Speaker 3: back and forth. And so August Newsom signed an agreement
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  Speaker 3: with Denmark and both are committed to achieving carbon neutrality
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  Speaker 3: by twenty forty five. And what ended up happening This
• 10:30
  Speaker 3: is about water systems in this particular one. So what's
• 10:34
  Speaker 3: in it for particularly Newsom, Well, he's going to get
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  Speaker 3: the platform, he's going to get the attention, although he
• 10:41
  Speaker 3: doesn't get a whole lot of attention this conference, by
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  Speaker 3: the way, you know, in the first time California attended
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  Speaker 3: the conference, Arnold Schwarzenegger was the first California governor to go,
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  Speaker 3: and that's in Copenhagen in two thousand and nine. Jerry
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  Speaker 3: Brown attended in twenty fifteen when the Paris agree was signed,
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  Speaker 3: a big one of which President Trump has removed us
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  Speaker 3: twice from the Paris Accords. First term, he said, we're
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  Speaker 3: done with this climate change, this climate accord, and then
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  Speaker 3: Joe Biden puts us right back in, and then Trump
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  Speaker 3: removes us once more.
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  Speaker 2: And this was day one of his term. So how
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  Speaker 2: important is this? You know? I think it's important?
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  Speaker 3: Do I think it's also a cheap political trick by
• 11:35
  Speaker 3: news Not cheap political trick, it's a cheap political move
• 11:38
  Speaker 3: because at this point knew what Newsom is doing is
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  Speaker 3: doing everything he possibly can to set up his to
• 11:46
  Speaker 3: set up his run for the presidency. I don't even
• 11:48
  Speaker 3: think he's announced yet, has he that he's running. I
• 11:50
  Speaker 3: don't believe that he has actually announced that he's running.
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  Speaker 2: He has not.
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  Speaker 1: He has said he would be lying if he hadn't
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  Speaker 1: admitted that he was thinking about it.
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  Speaker 3: Ah, okay, And he's been thinking about it probably since
• 12:03
  Speaker 3: I don't know, maybe kindergarten. You know, when a kindergarten
• 12:07
  Speaker 3: teacher says, what do you want to be when you
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  Speaker 3: grow up?
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  Speaker 2: I want to be a fireman. I want to be
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  Speaker 2: a policeman. And there's Gavin.
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  Speaker 3: I want to be the president of the United States.
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  Speaker 2: The point is he was serious.
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  Speaker 3: Most five year olds are not, so Gavin Newsom is there.
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  Speaker 2: And now who is paying for it? Right? Oh my god?
• 12:30
  Speaker 2: Is state money paying for this? Absolutely not.
• 12:34
  Speaker 3: These trips are paid by nonprofits, private money that's raised,
• 12:38
  Speaker 3: so at least that part of his good Although you
• 12:40
  Speaker 3: can argue that the governor is on state salary and
• 12:44
  Speaker 3: he's taking away from his state duties. But you know,
• 12:47
  Speaker 3: one of the things about being an elected official, especially
• 12:50
  Speaker 3: when you're head of the executive branch of a state
• 12:53
  Speaker 3: or the presidency, no one tells you where to go win.
• 12:59
  Speaker 3: You don't ask anybody's permission. I think I'm going to
• 13:01
  Speaker 3: take two weeks off. I think I'm going to go
• 13:05
  Speaker 3: to Hawaii for a while. And that's Obama. I think
• 13:08
  Speaker 3: I'm gonna go to mar al Lago every weekend. That's
• 13:12
  Speaker 3: President Trump. I think I'm gonna take lots of trips.
• 13:17
  Speaker 3: President Clinton says, yeah, Now that's the good news being
• 13:22
  Speaker 3: a president or a governor is pretty good. I think
• 13:25
  Speaker 3: the same thing with any elected official. And by the way,
• 13:28
  Speaker 3: the same thing if you're a federal judge. Did you
• 13:31
  Speaker 3: know that no one can stop you from going any
• 13:33
  Speaker 3: place you decide your own vacation plans. Okay, Now, La
• 13:42
  Speaker 3: is kind of an interesting place. It is rent controlled,
• 13:45
  Speaker 3: but sort of kind of rent controlled.
• 13:48
  Speaker 2: Well, the city council.
• 13:49
  Speaker 3: Is moving to vote to really make it rent control.
• 13:54
  Speaker 3: They're going to put a cap on rent increases for
• 13:58
  Speaker 3: these rent stabilized apartments to three percent a year no
• 14:01
  Speaker 3: matter what.
• 14:04
  Speaker 2: Now the landlords are saying, you do that.
• 14:07
  Speaker 3: We're not going to repair the property because we can't
• 14:12
  Speaker 3: afford it. More than half of a tenant's in La
• 14:17
  Speaker 3: pay more than thirty percent of their income in rent.
• 14:19
  Speaker 2: So here is the problem. What happens?
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  Speaker 3: And man, this is a rock and a hard place,
• 14:24
  Speaker 3: and that is rent is so expensive that people pay
• 14:28
  Speaker 3: far more than thirty percent of their income in rent.
• 14:33
  Speaker 3: We were speaking to Or I was to Amy, and Amy,
• 14:38
  Speaker 3: your figure is what what percent is your income?
• 14:41
  Speaker 2: Half of her income goes for rent. And that's two reasons.
• 14:45
  Speaker 3: One because of the cost of rentals here in southern
• 14:49
  Speaker 3: California and The other reason is she works here at iHeart.
• 14:52
  Speaker 2: And the Deadly Company. It is a.
• 14:55
  Speaker 3: Very deadly combination, to say the least. The point is
• 15:00
  Speaker 3: this is going to be the first major change in
• 15:02
  Speaker 3: rent stabilization since nineteen eighty five, and the cap is
• 15:08
  Speaker 3: what inflation is. Normally, the rent Stabilization Board decides what
• 15:13
  Speaker 3: the inflation is. However, it can go up to ten
• 15:16
  Speaker 3: percent statewide, and it can be more expensive. Also, someone
• 15:22
  Speaker 3: leaves a rent stabilized apartment, for example, and someone new
• 15:26
  Speaker 3: moves in, you can go up to market, which is
• 15:28
  Speaker 3: why it's in the best interests of landlords to get
• 15:31
  Speaker 3: people out of those rent stabilized apartments because then they
• 15:35
  Speaker 3: go then the new base is.
• 15:38
  Speaker 2: The new market rent. Well, all of that disappears.
• 15:44
  Speaker 3: You leave a rent stabilized apartment and whoever comes in
• 15:49
  Speaker 3: gets a rent stabilized apartment at basically the same price.
• 15:53
  Speaker 3: So right now the cap is between three and eight percent,
• 15:57
  Speaker 3: depending on inflation, going up to ten ten percent off
• 16:00
  Speaker 3: the landlords pay for utilities.
• 16:04
  Speaker 2: And it gets really really expensive.
• 16:08
  Speaker 3: So since most Angelino's are renters, half our rent burden
• 16:13
  Speaker 3: more than thirty percent, much like Amy pays fifty percent
• 16:19
  Speaker 3: of her income so what's what do you do about it? Well,
• 16:24
  Speaker 3: you get a cheaper apartment, you don't work for iHeart,
• 16:28
  Speaker 3: If you do work here, you quit or you don't apply,
• 16:32
  Speaker 3: and somehow maybe you can afford I mean, we're in
• 16:35
  Speaker 3: the middle of an affordabilarly crisis, so clearly, and of
• 16:39
  Speaker 3: course the housing crisis.
• 16:42
  Speaker 2: So unfortunately. The equation is real simple.
• 16:46
  Speaker 3: The more you control rent, the more expensive it is
• 16:49
  Speaker 3: for landlords because they're losing money. And the whole point
• 16:52
  Speaker 3: of buying into apartment buildings is either it becomes cash positive,
• 16:57
  Speaker 3: which is almost impossible to buy an apartment building where
• 17:00
  Speaker 3: it's cash positive, or the value of the place goes up.
• 17:05
  Speaker 3: And why does the value of the place goes up
• 17:07
  Speaker 3: because the rent increases. That's how you get more value
• 17:11
  Speaker 3: in a piece of property. Well, if the rent doesn't increase,
• 17:15
  Speaker 3: you don't get much value. If you're a landlord and
• 17:18
  Speaker 3: you're not getting any money or very little money, and
• 17:20
  Speaker 3: inflation is more than the rent increase, then you're not
• 17:26
  Speaker 3: going to spend any money.
• 17:28
  Speaker 2: I mean, I don't know if I would. I mean,
• 17:31
  Speaker 2: I had two units where I lived.
• 17:34
  Speaker 3: I lived before I moved into the Persian Palace. I
• 17:37
  Speaker 3: was in Hancock Park adjacent. Hancock Park is a real
• 17:42
  Speaker 3: is the is the rich area adjacent not so much
• 17:46
  Speaker 3: so we say I live in Hancock Park adjacent.
• 17:48
  Speaker 1: No, you were in Hancock Park adjacent. I had been
• 17:52
  Speaker 1: to your place adjacent. It was a due plex. It
• 17:55
  Speaker 1: wasn't adjacent that you that you lived in as a
• 17:58
  Speaker 1: one play.
• 17:59
  Speaker 3: Well that's only when the kids were born. Yeah, they
• 18:01
  Speaker 3: were big duplexes we bought. The point is we bought
• 18:03
  Speaker 3: one around the corner also as a rental, and because
• 18:08
  Speaker 3: it's rent it was stabilized for rent and unfortunately, I
• 18:15
  Speaker 3: believe in keeping up properties. Was built in nineteen twenty seven,
• 18:18
  Speaker 3: and so when I bought it, I brought it back
• 18:20
  Speaker 3: to nineteen twenty seven. The day you walked in the
• 18:24
  Speaker 3: place is it was a time machine. It was a
• 18:27
  Speaker 3: time warp. It was like the day it was built
• 18:30
  Speaker 3: in nineteen twenty seven. And it's not a good idea
• 18:33
  Speaker 3: then to put renters in there that don't give a
• 18:35
  Speaker 3: rats ass goodbye.
• 18:40
  Speaker 2: Done anyway, so much for that.
• 18:43
  Speaker 3: Okay, before we do that, I want to talk about
• 18:46
  Speaker 3: the fact that if you have a seven year car loan,
• 18:48
  Speaker 3: you're out of your mind. Unfortunately, if you have a
• 18:51
  Speaker 3: seven year car loan. There's a good chance that's all
• 18:53
  Speaker 3: you can afford. And now the new normal is a
• 18:57
  Speaker 3: seven year car loan. Now, when I started buying cars,
• 19:00
  Speaker 3: anything beyond three years was just no one did it.
• 19:06
  Speaker 3: The norm was a three year car loan. But what happens, well,
• 19:10
  Speaker 3: you have interest rates on cars, particularly used cars. Can
• 19:14
  Speaker 3: you imagine a seven year loan on a used car
• 19:17
  Speaker 3: and people are buying them. The average used car has
• 19:21
  Speaker 3: I think fifty or sixty thousand miles. And if you
• 19:26
  Speaker 3: buy a used car and you buy a seven year
• 19:28
  Speaker 3: loan with it, it's never going to be less expensive
• 19:33
  Speaker 3: than the loan. You will be upside down from the
• 19:35
  Speaker 3: moment you buy that car. And at the end of
• 19:39
  Speaker 3: five years, four years, the car is worthless.
• 19:43
  Speaker 2: And so what you're sitting on is a worthless vehicle.
• 19:46
  Speaker 3: Hopefully it works and a huge loan payment and when
• 19:51
  Speaker 3: it comes I'm going to give you some figures.
• 19:53
  Speaker 2: Okay, this is Consumer Reports.
• 19:56
  Speaker 3: Forty thousand dollars auto loan, which is not is typical
• 20:01
  Speaker 3: at a seven percent interest rate, which is also typical.
• 20:04
  Speaker 3: So on a four year loan, you're paying almost one
• 20:07
  Speaker 3: thousand dollars a month. I mean, that's some serious money
• 20:10
  Speaker 3: for a car. But your interest is six thousand dollars
• 20:16
  Speaker 3: over the lifetime of the loan. Now, if you go
• 20:19
  Speaker 3: to five years, your monthly payment drops to seven ninety
• 20:24
  Speaker 3: two eight hundred bucks. Interest goes up to seventy five
• 20:27
  Speaker 3: hundred dollars with a six year loan. And again this
• 20:31
  Speaker 3: is all about making payments monthly, because that's all people
• 20:34
  Speaker 3: care about. When's the last time you bought anything and
• 20:38
  Speaker 3: you looked at over the life of the loan, no
• 20:41
  Speaker 3: one does.
• 20:41
  Speaker 2: No one pays.
• 20:42
  Speaker 3: Attention interest rates over the life of the loan. You
• 20:44
  Speaker 3: don't pay attention to that. You buy a house, do
• 20:47
  Speaker 3: you really think about, okay, over the life of the
• 20:49
  Speaker 3: thirty years, this is what I'm paying interest.
• 20:51
  Speaker 2: Nobody gives a damn. What you do is how much
• 20:54
  Speaker 2: is it going to cost a month?
• 20:55
  Speaker 3: That's all you care about. Well, if you look at
• 20:58
  Speaker 3: the figures, it gets really scary. A six year loan,
• 21:01
  Speaker 3: now your payment goes to six't eighty two, so it
• 21:03
  Speaker 3: keeps on dropping and maybe that's a lot more affordable
• 21:06
  Speaker 3: and that's within your price range. The interest rises to
• 21:09
  Speaker 3: nine thousand dollars over the six years, and a seven
• 21:14
  Speaker 3: year loan, which unfortunately is happening more and more. Your
• 21:17
  Speaker 3: payments are now six hundred bucks a month. The payment
• 21:21
  Speaker 3: the interest is going to be ten thousand dollars over
• 21:24
  Speaker 3: the life of the loan.
• 21:25
  Speaker 2: Does it make any sense financially? It does not.
• 21:29
  Speaker 3: Oh, I was wrong about the figures of the.
• 21:35
  Speaker 2: Used car mileage.
• 21:37
  Speaker 3: The average used car that was sold in August of
• 21:39
  Speaker 3: twenty twenty five, a couple months ago, has already been
• 21:43
  Speaker 3: driven seventy two thousand miles the average car, So if
• 21:46
  Speaker 3: you're buying an average used car, you're buying it with
• 21:49
  Speaker 3: seventy two thousand miles on it.
• 21:52
  Speaker 2: I only buy used, and I have never paid.
• 21:58
  Speaker 1: Anything above five hundred It's always been under five hundred
• 22:02
  Speaker 1: dollars a month. I can't imagine spending the kind of
• 22:05
  Speaker 1: money that people those days are done. I just I
• 22:08
  Speaker 1: want I buy something three two or three years old
• 22:11
  Speaker 1: and I drive it forever.
• 22:13
  Speaker 2: How do you do that? Today? You taught me this
• 22:15
  Speaker 2: though you did no.
• 22:16
  Speaker 1: I did treat it like a utility, that you're always
• 22:19
  Speaker 1: going to have to pay for it, and that it's
• 22:21
  Speaker 1: not an investment. And that's what I do. I just
• 22:23
  Speaker 1: know that I'm going to probably have a car payment for.
• 22:26
  Speaker 2: The rest of your life.
• 22:27
  Speaker 3: Yeah, that's true. It's like a electric bill payment, you know,
• 22:30
  Speaker 3: just you pay it. It's part of life. That's how
• 22:33
  Speaker 3: you have to look at it. So yeah, and that's
• 22:36
  Speaker 3: the to that point, all you care about is your
• 22:38
  Speaker 3: monthly payment.
• 22:39
  Speaker 2: Yeah, and that's why it doesn't matter.
• 22:40
  Speaker 3: That's why they nail you. They nail you because your
• 22:44
  Speaker 3: car five years from now, seven years from now.
• 22:47
  Speaker 2: Is a piece of crap, not if you keep it up.
• 22:50
  Speaker 2: Oh stop it. Who keeps up an eight year old car?
• 22:53
  Speaker 3: Well?
• 22:53
  Speaker 1: Actually, people to twenty sixteen, and it's a truck, is
• 22:56
  Speaker 1: a GMC. It runs great, it has never knocked one,
• 23:00
  Speaker 1: it's never had any major anything.
• 23:02
  Speaker 2: All Right, we're done. That's it. This is KFI AM
• 23:07
  Speaker 2: six point. You've been listening to the Bill Handle Show.
• 23:10
  Speaker 3: Catch my Show Monday through Friday six am to nine am,
• 23:13
  Speaker 3: and anytime on demand on the iHeartRadio app.