>> bought a Chevy Tahoe for $84,000 at a 10% interest rate with payments of $1400/mo, still owes $70k+
>> bought a truck for nearly the same price, payments of $1600/mo, still owes like $80k
>>> reveals she doesn't know why, she likes her Audi better
holy fuck who are these people? They're funneling ALL their money into cars. No appreciating assets. No savings. They're living paycheck to paycheck, hand to mouth just to fucking have some cars to impress their friends?
And she doesn't understand principal payments vs interest payments, or how compounding interest works, etc
What I'm worried about is who's feeding off of her? And what are they doing with all that money they're extracting from people who don't understand compound interest? Forget about whether she's an idiot, I want to know about those loaners!
@Morghur@BronzeAgeHogCranker literally bought my Tesla so I'd never need to give a shit about oil changes or brake pads ever again, plus the car is so well balanced and has AWD so I don't even need to balance the tires
@PurpCat@BronzeAgeHogCranker@Morghur the batteries are cheap as fuck now dude. If I wanted to replace the entire battery in my Model 3 it would only cost $14,000 right now. I'd drop that cash in a heartbeat.
That's cheaper than to replace or overhaul an engine and tranny.
edit: I paid my friend $3000 to do my Subaru engine, replacing all seals and gaskets, etc. Parts were ~$1100, and we didn't skimp out on cheap parts. Subaru wanted $7000 for the same work. Criminal.
edit2: aftermarket batteries from Recell are $10k for a 66 kWh battery which is slightly smaller than mine but would be fine too https://recell-ev.com/model-3%2Fy
You'd better do it at the Tesla (tm) center or else you'll get that ass banned from supercharging. You also won't buy another EV if you can find it, because dealers don't like stocking them.
This can be worked around; I have a connection to Green the Tesla rooting guy through a friend, so I'm very familiar but also I literally don't care.
Though I don't like the changes they made on the newer Model 3s so I'm holding out for Audi to add the NACS charging to their cars and I'll consider my options then.
@PurpCat@BronzeAgeHogCranker@skylar oh man I had a leased Altima in like 2008 and that thing fucked me over so bad... I had to pay to get rid of it because the value dropped, and then they bitched at me for the bottom rusting and it was a brand new car but apparently Nissan doesn't protect their cars from salt very well
@arcana@feld what's really fun is finding extremely low interest debt options and investing it into high yield things or paying off high interest debt you may have with it
@arcana@feld credit cards in the US will give you 0-1.99% promo APR for a year or more on balance transfers directly into your checking account, I regularly do this for $15k or $20k at a time and pay it off before the promo APR expires
the idiots (or unfortunate) who let the promo APR expire and convert into the full 25%+ APR basically fund this option for me
@feld@arcana Dept can be a tool or a toy. Debt is a tool means that you get enough value out of having the tool as to be worth it. Debt as a toy means you want something but there isn't enough value in having as to be worth the costs.
@bluGill@feld If only everyone understood this. The lack of education around this for the general public and the conflict of interest caused by lenders (who make money off lending) also being responsible for lending responsibly makes it so that each person is just a piñata for banks to beat until there's nothing left.
Mix this with an aggressive consumer culture that encourages every Tom Dick and Harry to buy the latest $80k Ford as a status symbol and you get a system that continually extracts value from every person who can't cut through the bullshit and realize they're being bought and sold as a commodity.
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