In it Feraz, 27, said he was spending $600 a month — half his income — servicing a loan for his BMW. TikTok viewers were shocked by a resurrected clip of a man calling in to Dave Ramsey's radio show to ask for help with his car loan, which was eating half of his income. Feraz, 27 from Los Angeles, said he was using up half his $1,200 monthly income in car payments — $600 per month for his BMW. In the clip, Feraz said he was also in $15,000 of debt from his last BMW. Two out of 13 people are making monthly car payments of $1,000 or more, according to Bloomberg.

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Persons: Dave Ramsey, Ramsey, Feraz, Dave Ramsey's, We've, Ramsey didn't, I'm, Feraz's, You'll, you've, Caleb Hammer Organizations: BMW, Bloomberg, Financial Locations: Los Angeles, American, TikTok