In 2012 a Ford Focus full Electric was almost $40,000 MSRP with a probable markup at just about any dealer in the country. The only thing that makes that kind of investment affordable is the tax break. The Tesla model 3 (in comparison) was around $25,000 MSRP in 2019. With a 3 year auto loan at 5-6% interest that cost is $31,760.50. The electric focus would have cost
$49,305.44 for the same loan term and interest rate.
And they can’t even sell these vehicles for bluebook value (assuming that the vehicle is paid off and they aren’t upside down on the loan for say a loan term of 5 or 7 years).
A Mach e? Almost $39,000 MSRP. Chevy Bolt? $27,500 MSRP. Hyundai Ioniq? Almost $40,000 MSRP. Nissan Leaf is just over $29,000.
There aren’t that many cars that are good financial decisions to be made in a market with so few options where range is ability to charge are majorly important to what you buy.
Toyota’s Mirai isn’t even top rated and it starts at $52,000. So yes. Huge financial loss, and Tesla’s aren’t that expensive when compared to other brands (the cybercuck not included).
Some people reallying don’t understand arp. Also staus symbol and they could have brought it realozed they are underwater on the loan and are stuck with it.
Well, being financially stupid doesn’t mean you’re also a “limp dicked piss baby champagne socialist.”
It don’t matter how they got the car. They could have saved up for years, have been cutting costs elsewhere in life, or just have a well paying job; buying a car at 40k+ and selling it for 20k, especially if they still have 30k left on the loan is a dumb move even for the financially illiterate.
“buying a car at 40k+ and selling it for 20k, especially if they still have 30k left on the loan is a dumb move even for the financially illiterate.”
Anyone who’s financially literate would recognize how financially illiterate it is buying any car which isn’t a Toyota, Honda etc. Every car depreciates 50% as soon as it leaves the show room. That is fact. Any time you buy, finance, or lease a new car, you are basically throwing away your money. Lease less so.
I know Americans like to buy cars they can’t afford as status symbols, but America has plenty of cheaper reliable cars. If you bought a 40k electric car to flex to your friends how much you love the environment and got a predatory loan to afford it, you are a piss baby champagne socialist.
“huge financial loss”
So why do these people buy these expensive cars they can’t afford in the first place?
Surely they would’ve made a good financial decision and bought a used Toyota at a fraction of the price if their finances weren’t in order?
In 2012 a Ford Focus full Electric was almost $40,000 MSRP with a probable markup at just about any dealer in the country. The only thing that makes that kind of investment affordable is the tax break. The Tesla model 3 (in comparison) was around $25,000 MSRP in 2019. With a 3 year auto loan at 5-6% interest that cost is $31,760.50. The electric focus would have cost $49,305.44 for the same loan term and interest rate.
And they can’t even sell these vehicles for bluebook value (assuming that the vehicle is paid off and they aren’t upside down on the loan for say a loan term of 5 or 7 years).
A Mach e? Almost $39,000 MSRP. Chevy Bolt? $27,500 MSRP. Hyundai Ioniq? Almost $40,000 MSRP. Nissan Leaf is just over $29,000.
There aren’t that many cars that are good financial decisions to be made in a market with so few options where range is ability to charge are majorly important to what you buy.
Toyota’s Mirai isn’t even top rated and it starts at $52,000. So yes. Huge financial loss, and Tesla’s aren’t that expensive when compared to other brands (the cybercuck not included).
Some people reallying don’t understand arp. Also staus symbol and they could have brought it realozed they are underwater on the loan and are stuck with it.
Well, being financially stupid doesn’t mean you’re also a “limp dicked piss baby champagne socialist.”
It don’t matter how they got the car. They could have saved up for years, have been cutting costs elsewhere in life, or just have a well paying job; buying a car at 40k+ and selling it for 20k, especially if they still have 30k left on the loan is a dumb move even for the financially illiterate.
“buying a car at 40k+ and selling it for 20k, especially if they still have 30k left on the loan is a dumb move even for the financially illiterate.”
Anyone who’s financially literate would recognize how financially illiterate it is buying any car which isn’t a Toyota, Honda etc. Every car depreciates 50% as soon as it leaves the show room. That is fact. Any time you buy, finance, or lease a new car, you are basically throwing away your money. Lease less so.
I know Americans like to buy cars they can’t afford as status symbols, but America has plenty of cheaper reliable cars. If you bought a 40k electric car to flex to your friends how much you love the environment and got a predatory loan to afford it, you are a piss baby champagne socialist.