Matthew Beem reveals ,000 loan spent on Logan Paul Car Video

Matthew Beem reveals $20,000 loan spent on Logan Paul Car Video

  • Colorado-based YouTuber Matthew Beem has risen to social media fame in recent months.
  • He told Insider that he once borrowed $20,000 to fund a video idea for customizing Logan Paul’s old car.
  • Beem said the video cost around $50,000 to make, due to unforeseen damage to the car.

YouTuber Matthew Beem said he was still paying off a $20,000 loan he took out to fund a video idea involving a car owned by famous influencer Logan Paul, in the hopes it would help him grow his channel .

In September 2020, 25-year-old Beem, who typically posts about building large-scale objects and statues, posted a YouTube video titled “I Spent Thousands on Logan Paul!” which now has 13,000 views. In it, he said he was going to customize a yellow Dodge Challenger car, which previously belonged to Paul.

Paul is a controversial influencer with 23 million followers. He rose to fame on the now defunct Vine platform and later posted regular vlogs on YouTube. He received widespread backlash when he filmed an alleged corpse in Japan in late 2017, but later apologized and continues to post content for his large audience.

Beem told Insider he was inspired by Paul and other influencers who rose to fame during the “vlogging era” on the platform, so when Paul gave his car to a fan in September 2020, Beem decided to reach out to the fan so he could get his hands on the car and “paint it amazingly” for a video.

The YouTuber told Insider that he was working as a head painter at an automotive company at the time, saying, “Once I was confident with the knowledge I learned from painting cars, I I was able to save a lot of money and I thought, ‘I’m going to go all out and make a really big investment.'”

Beem said he planned to take out a loan so he could buy the fan’s car and use it in his video, but his friends and colleagues found the idea “crazy”.

“I told them I was doing and they thought I was crazy. That was probably the scariest moment because I worked full time for seven years, I was only 23 at the time. “, he said, adding, “I was getting like 50 views a video and I hadn’t really seen any success at that point. But I really believed in it and wanted to take the plunge.

A post shared by Matthew Beem (@matthewbeem)

According to Beem, the video ended up costing him almost $50,000 because someone crashed into the car, which meant he had to pay extra to get it fixed. The YouTuber said he borrowed $20,000 from a Colorado-based credit union to help pay for some of the costs. (The insider saw the loan documentation.)

“It was a lot more expensive than I ever thought because of this accident, but luckily everyone was safe and everything went very well,” he told Insider.

After Beem posted the video showing him buying the car on September 30, 2020, he said his channel “got hit” and he found more success on the platform. Although the video itself did not go viral, Beem said the concept inspired him to produce other custom car videos and projects that eventually received millions of views each.

A later video posted in January 2022, where Beem said he tried to send the customized Dodge Challenger to Paul’s home in Puerto Rico, but was unsuccessful because it was too expensive, now counts. 3.3 million views on the platform.

Beem has risen to fame on YouTube in recent months, gaining more than 1.2 million subscribers from September 2021 to March 2022, according to analytics tracker Social Blade.

He told Insider he also borrowed $14,000 from a family member to fund another video, which currently has 4.6 million views, in which he customized a Smart car for popular YouTuber MrBeast. (The insider was unable to independently verify this loan with the YouTuber’s financial records.)

For more stories like this, check out Insider’s Digital Culture team coverage here.

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