youtube-dl is a great tool ( supports multiple websites outside of youtube as well )
The problem is...if you use youtube-dl to rip songs from youtube you are going to be stuck with a not so great quality bitrate.
Based on some quick research, it looks like the top quality audio bitrate you can get currently get from youtube is 126.886 kbps. That's going to really reduce the quality of any song you rip from the site. Most songs are digitally released at 320kbps these days. CD quality is 192kbsp.