I Have Buyer's Guilt About My Tesla!
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- čas přidán 20. 09. 2023
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Finally a realistic answer. He has no debt and has buyers remorse. Just pay it off and move on with your life. Don’t do it again.
Lolz im planning to get a used mustang gt for 34k performance pack and its lower than half of my annual income and no debt and have a paid off corolla im wondering if i can get it? 🧐😅 btw in live in texas so gas is not really an issue for me
@@unfairsanic5089YOLO
He just overpaid for the car is all. You can get a new inventory model 3 for 37k. The car also qualifies for the tax credit of $7500. He is a sucker for buying used when he could have got it cheaper new.
Some people just don't know you can buy directly from tesla and save a boat load.
Depending on where he lives, his fuel savings will cover his costs in a few years. Everyone buying an EV needs to do the math for themselves. For some, it is of some value to burn less fuel - we are all called to be good stewards of this earth and if we can afford to pollute less, maybe we should.
@@MBergyman This "savings in fuel covering cost of car" has been debunked. Factor in the cost to replace depleted battery and depreciation and we're back to square one. Your environmental point has also been debunked.
I saw an YSL purse at the pawn shop yesterday. $1,799.00 I loved it. I mentioned it to a lady standing next to me. She told me to buy it because "you only live once". She was there because she needed to pay off a loan. I was there making a profit. I didn't buy it.
Why on god's green Earth would anyone spend nearly two grand on a purse?
paid off my tesla within a year of the purchase. No stress from that and love my car.
Those cars are very ugly. No thanks.
@@Observer100-cn7gv Thanks for your opinion.
The more frequently you trade cars, the more often you lose$$. Pay it off/keep it and be careful 10 years from now.
The issue is managing expectations when you spend a lot of money on something. You expect perfection when you spend more on something, so it’s harder to forgive it’s faults. I’ve been much happier over the years, buying a value product and appreciating the positives, but being able to overlook the downsides, because it didn’t break the bank.
Very true. I am very similar, myself. I'd add to what your saying in that the novelty of a purchase also wears off, rather quickly, even if it is a quality item that you can afford.
A new "whatever", brings with it great excitement, but after a while, you're new "whatever" just becomes part of the inventory that you don't really consider, too often.
But if you've got finance on it, you don't forget that part.
His issue was he bought a 3 year old model 3 for 41k when brand new is 40k
😂😂
Minus a 7.5k tax credit
It could have been a performance model or have fsd?
I was in a similar posituon and worked like hell to pay it off. Good thibg I did because when I paid it off my hours got cut at the same time so I realized I dodged a bullet that was so close to hitting me
$41k for a three year old Tesla with a current resell value $9k less. Sounds as though he overpaid for a used car. Sometimes, you just have to lick your wounds and get on with life.
A brand new Model 3 with just the federal rebate right now is $29k in my area. He paid $41k for a used one. Dude way overpaid.
He said he could sell it private sale for $32,000. 😂😂
Yeah unless he got the performance model 3 he way way overpaid and missed out on the tax credit. Shouldn't be getting a Tesla unless he can pay cash and get the tax credit
Problem as well as contrary to what ever the experts say is the Tesla is dying every charge cycle. Hype aside the car will go a mile or two less every time it is charged and will begin to not charge quite as much as last time. Agreed Tesla has made some progress with battery tech but the laws energy in vs. energy out are irrefutable.
Time is against you no matter how cool the car is. As most electric car owners after 5 or 6 years. If I were doing electric I would want to be very well funded, have the top level 240V charger at home and trade no more than every 3-4 years. Ironic sounds like this poor guy has bought somebody else's emerging trouble off that very kind of 3-4 year trade cycle I would like to use as my own discipline!. Think of it a 600 car payment for a car you have to watch every trip you make unless it is very short due to growing charge restrictions!
No that’s just the rapid depreciation of EVs - really dumb purchase.
The problem is he thought the Tesla would be more luxurious. Thats why he is upset, its like a 90's accord in ride quality, it just has a big touch screen
It’s not supposed to be a luxury car… it’s a very fast car with technology that’s better than every other car on the road.
Exactly. I test drove one last year. I wasn’t impressed. Big screen is the only great thing about that vehicle.
@@JDawgstwothousand This.
@@JDawgstwothousand the caller said luxury. thats why he is disappointed.
Found the hater chiming in on things they know nothing about other than what they've read in comment sections. The stock model 3 is a *fantastic* driving car with excellent handling characteristics, the only issue is the road noise but that has gotten significantly better with the acoustic / double-paned glass starting late 2021.
He could’ve bought a brand new one for that price. Not sure how long he’s had it but if it’s less than 30 days he should be able to unwind the deal
I bought a brand new Tesla June 22, 2023 for $38,000.00. Love it. He paid too much.
We enjoy our model Y. We are going to keep it until it literally falls apart. Will replace the battery (supposed to last up to 300,000 miles). Don’t care about depreciation as our net worth grows. Our interest rate is 2.49%. Not rushing to pay it off.
How much will it cost for a new battery installed? I've seen numbers all over the board when I tried to lookup online, from a few thousand dollars to tens of thousands of dollars. Expected battery life is all over the board as well, from 150k miles to 500k miles.
@@lkj0822gIt depends which model. I've seen up to $13K or $20K for mine. I think that only Tesla can say for sure.
@@lkj0822g what’s the cost for a new engine in a gas car?
Tesla has been dropping prices on new cars a lot this year which is depreciating used teslas a lot. So most people who bought a Tesla with debt in the first half of 2023 are automatically deep underwater in their loans.
Feel bad for whoever purchased model 3s for 60k :/ back then
I heard part or the price decrease is due to lesser quality parts, for example the battery is of poorer quality & won't last as long.
Where is your information and facts on this statement? I would love to hear.@@juicysmith38235
There is no reason to lose money one something that you can afford to pay for. Keep it, pay it off and drive it for 20 years.
I don't drive my vehicles for twenty years, but definitely between 8 and eleven or so. Then I just buy another one cash and always get a very good trade in due to me always taking very good care of them. I never understood the people who have to get a new car or truck every few years.
Doubt that thing will even last 5 years. They’re not designed to last for decades.
@@daveblackman816Like a bic lighter.
Imagine how crappy it will be compared to Teslas 20 years from now.
@@FoodSmash 2 years.
Be better to just pay it off at this point. He can afford it. And he won’t have to worry about paying for high California gas prices.
Although 6 plus isn’t the highest payment I’ve ever heard of, it’s still higher than what I would go. At this point all he’s done is swap high gas price for a higher car payment. Even with a gas saver engine car, SJCs just below 5 a gallon still hurts. He can at least be happy in that he didn’t buy any big 3 electric crap. I agree with you comment; pay that puppy off and go on.
Yeah he only has to worry about sky high rent and housing prices. San jose is the most expensive city.
@@Jujubees225And sky high electric rates.
Lolz im planning to get a used mustang gt for 34k performance pack and its lower than half of my annual income and no debt and have a paid off corolla im wondering if i can get it? 🧐😅 btw in live in texas so gas is not really an issue for me
@@unfairsanic5089 invest that money or put it in savings instead of a car payment.
I see one online for $28K before all the fees and taxes.
Yes he bought before all the Tesla price drops. That is why he’s upset.
@@jeffkline9191 lol.
With their income (even though they are in Cali), they should be able to save up and pay it off relatively quickly. Might as well keep it
You only kno of his income which is just decent
Gotta keep it. I'm not losing 10G if I'm him. Plus he'll save a ton of money on gas. Plus it's a nice car. Love the acceleration of a Tesla. Just chalk it up as a lesson learned.
Bought a Bolt for $15k. The fuel savings pay nearly level out the monthly payment ($250 monthly fuel cost savings vs $290 payment). I have oversized my solar array (paid cash and installed myself). My charging is free, my car will be paid for in 3 years, the solar will have paid for itself in 4 years. A $600 payment only lasts a few years but if you drive a lot, the fuel savings will catch up quickly.
buyers REMORSE not guilt
Just keep it....
Learn how to connect jumper cables to the power lines this way it won't cost to charge it up.
If only it worked like that 😂
The resulting fire will probably burn for 24 hours. 😂😂
This is the second time now that I've heard Jade say you shouldn't have more than 50% of your annual income tied up in "A vehicle." She needs to ask if they have any other vehicles, because I'm pretty sure it's supposed to be for the total number of vehicles, not each individual vehicle.
He’s not married yet so it’s just him in this scenario; he makes $115K alone though so if you added her vehicle you’d also have to add her income. The way Jade did it in this video was correct
@@BallAintLife123 true. But I think It is worth asking. It's surprising how many people that call into this show seem to have more than one vehicle lol
@@kendrascorner lol fair point
Anything with motors which as you get older will start to accumulate. Tractors, boats, multiple cars.
ppl routinely call in and have one extra car for no reason at all lol. very true comment@@kendrascorner
I heard about the replacement battery for an electric car being up to $30,000. "U.S.A. Today" reporters interviewed the chevy dealer and they said that is correct. The battery was for a 12 year old Chevrolet Volt. They said the battery is discontinued, so they had to go through a 3rd party. Imagine having to junk a car that is only 12 years old. :( My pickup is 20 years old and runs great!
That's a great down-payment on a reliable Lexus. Tesla is just an even worse investment.
It's not as bad as you think. It's important to know the Volt has an engine too, so you would not have to replace the battery even if the battery does completely fail. And over 10 years and 150k miles (which nearly every EV battery will last that long), the 2011 Volt would save $8k on gas over a 2011 Corolla (at today's gas prices, and assuming the Volt does 63% of its mileage on electricity.). That $8k would be enough to buy a 12 year old Volt with a working battery.
they also bought a car from a company that went bankrupt and needed tax payer money. they should have known better. not just EV wise but any vehicle from them.
Yep. I hear all kinds of reports like this. I don't know what's true or not but we don't have long term data on EV'S yet.
Average lifespan of a car is 11-13 years
I purchased this year a used 2012 Honda CRZ for my daily commuter car (117 miles daily) for my job. I get a tiny over 40 mpg, it’s a fun small sporty car to drive. At no time did I consider purchasing any electric car. I’m sorry but I don’t know of anyone who has said purchasing an electric car was a good decision. The few who have them at my place of work have all traded them in.
The novelty will wear off, as the pool of suckers wake up.
Dudes take home is around 9k a month…if you think a $600 car payment is alot based on that income your crazy…You dont live to work. Dont be afraid to enjoy things in life because you’re saving for a future you may not even live to see.
YOLO baby 😎
That is a fair point, but equally $600 pm is 7k a year, and 35k in 5 years. 35K is a decent chunk of change that you're blowing on a tablet with wheels.
thats the point, we dont live to work. SO should he spend his hard earned money on something he doesnt even enjoy. $700 car payment is a plane ticket that he can buy every month.
You cant do math can ya lol. If he Kept the paid for car and put $600 a month in to a fund making 9% he would have $46k in that 5 years. Then he could go buy a 3 year old Tesla for CASH, still have enough in that fund to keep growing for another 5 years WITHOUT ADDING ANOTHER CENT and buy used $15-25k cars every 5 years WITHOUT A PAYMENT lol. 60 months of this "suffering" you are claiming to not YOLO and he changed the rest of his car buying life
How do you figure 9k a month, after taxes he's probably only bringing home 6500 a month, less if he is paying for insurance or retirement. Plus his rent is probably nuts in San jose
When my 8 year old paid off car got totaled and seeing the prices of used cars in 2021, getting a Tesla made more sense. Now, I charge my car at home/work for free. Meanwhile, the EV haters are complaining about $5/gal gas. Oh, haven’t paid for an oil change and other typical car maintenance stuff aside from tire rotations and new tires since then.
Not a fan boy… I’d still rather have my paid off car. But it’s the next best thing.
Those tires rotations though... Tesla says every 6,250 miles
@@thedopplereffect00 yeah…. I’ve looked through forums and even asked pros… I could get away with a couple of thousand miles later.
everyone ( including Tesla website) talks about gas savings.. I have not seen people talk about costs : insurance, tires, taxes and depreciation !
@@vikasd.7139 insurance is not bad. DMV fees are pricey. And there are ways to save on particular tires. Depreciation only mattered since Tesla dropped their prices early this year. But the weekly/daily costs of gas is gone. But like I said, I’d prefer my paid off 8 year old car.
I would try to pay it off in 12 months if possible, to save on interest.....
bought a New car>>> 0% interest.
He can easily afford this. If he bought this within the last month, he got ripped off. Right now you can buy a brand new rear wheel drive model three for $37,000 before federal and any state discounts so you can get it for under 30,000 new. If you purchased a performance model, he could get it after tax rebates for right at about $40,000. Brand new.
This is the same question I had that they didn’t bother to address. Why he opted for the used one at that price
Absurd advice to sell it. It is bought already and it is affordable so pay it off and use it. Taking a $10k hit for a totally unnecessary financial panic is not wise. Then you have to buy another car for $10k or $20k and you’re in the same place.
I was disgusted and disappointed when I went for a drive in one. . The ride was really rough. The bottle quality was cheap. The material looked really cheap and felt like something not worth the huge price
When you don’t have a car payment, you should be putting money aside every month to put toward your next car.
I would personally not take 25% hit by selling a car that I just bought, especially if it's an EV where there is potential of saving money down the line with less energy payment and low maintenance costs. I mean for eg. taking 10k loss now and then spending let's say another 20k for cheaper car will still cost you 30k total. I would just enjoy the car you have since you are well below the threshold of car payment vs income.
depending on his commute he could "break even" on the depreciation in fuel savings. they nail you on ins costs so its not as easy as it was but still doable
Yea but that Tesla insurance is like more then gas
@@Dividendsmattertoo if you are a garbage driver I guess.
@@MrBertstareTesla insurance is like 250-600$
@@Dividendsmattertoo what? umm you now that ins rates depends on the driver too right? our Tesla is 140 bucks a month. That almost gets a full tank in my Porsche!. And I live in a place with some of the most expensive insurance in the country. when we checked Tesla insurance through the app it was less but given how bad they are with customer service I dont want to have to deal with that if it ever came to filing a claim.
point still stands, if you have a decent commute, charge at home and are moderately responsible driver then depending on the ICE car you replaced you could come out ahead with a Tesla. we came out way ahead, compared to the wifes Subaru. Fuel costs are one thing but the maintenance costs is where you really make up some savings. 38k miles and its been $20 dollar rotates every 5k miles and some cabin air filters for 40 bucks at 20k miles. thats it.
I make 40k and just bought 2024 camry my monthly payment is $200. This guy make almost triple my income 😮
Just pay it off. Phobia of even short term debt wow.
3 years of debt is not fun. Especially since life circumstances change fast and you don't even enjoy the car you like.
Once you are debt free you realize what cancer debt really is.
He bought a 2020 Model 3 for $41k? It better be a performance. If he bought a RWD or Long Range, then that’s a huge L. 2023 RWD Model 3 starts at $40k, and a new Long Range at $47k, and that’s *before* the $7500 tax credit and any other incentives in California, which is where he is located.
Not something luxurious, but status symbol for him. All the well-off people in SJ / Silicon valley are driving Tesla.
Keep the car. Since having a payment bugs you so much, you will be motivated to pay it off faster. Then, learn from this feeling you have. Never do it it again.
Keep it. Pay it off. You really like it and you need a car. You can definitely afford it. Appreciate you own something you really enjoy. No gas, now you have a paid off car like you did before but it's up to date and awesome. Maybe don't make double payments but invest that second payment instead?
Mach E favourite looking EV
I hate a huge depreciation hit why i buy used. Still get it but its generally much better if you buy quality.
41,300 out the door for a Tesla that's only three years old is a pretty good deal. In this case, he saves a lot of money by not buying fuel or oil changes.
The part that I don't hear Ramsey team talk about much is saving for future expenses. Once you're debt-free, most of those old debt payments need to go towards disciplined savings in order to pay cash for future purchases like cars, home improvement, etc. Your "get out of debt" disciplined lifestyle won't just free up because you have no debt payments. Instead of paying Tesla financing every month, you make those payments to Wells Fargo savings, then hand it over to Telsa. It's not until you are debt free and live on way less than you earn does your life start to "fee up" like most imagine comes with being debt free.
So you dont listen much then lol. The concept of sinking funds is a huge thing all the way through the baby steps lol. BUT pretend he doesnt do that, its ok
I think they don't necessarily talk about it is because it's kind of assumed. I have always paid my car payments well before they're due, and each of the few times I had a car loan and paid it off I continued, psychologically speaking, to "pay" the payment but just put the money into savings, so my budget didn't ever change from the car payment days. Then again, I DO know people who perpetually have a car payment, and just go from one car to the next without ever really having any equity in them.
@@donjohnson1416 I’m referring to these CZcams video clips. They don’t mention it much. At least my comment made you laugh. Hopefully that’s worth something in your world.
That is the basis of the emergency fund with three to six months' worth of cash to cover expenses. It is easy to increase that as one's definition of "expenses" changes over time. 😊
@@user-mv9tt4st9k I don’t think the 3 to 6 months of expenses is supposed to include the savings for big ticket items such as a car or major appliance. A sinking fund is different, which is what @donjohnson1416 said. But this isn’t something that is often mentioned in these video clips.
This is a classic case of "keeping up with the joneses." Electric cars are everywhere in the south bay, with Teslas taking the cake in Santa Clara County. Sell it, take the loss, and go buy a hooptie!
You can afford it. You made a choice with your discretionary income. Be a big boy and live with it.
Keep it...This will teach you a lesson....
I’m very happy with my Model S Plaid 👏🏼
I bought a 2015 Tesla model S in cash first of June for 23000. I’m having thoughts of selling it due to its maintenance & lack of charger network. & I have free supercharger for life. So butt hurt atm cause I’m a fan boy. 😢
The average new car selling prices is approximately $50k. This young man purchased a car that is around 20% lower than the average cost of a new car. There is no issue here.
Moreover, with rising gas prices, if he had an ICE Car, his monthly gas cost could be around 500/mo. so the EV is saving him significantly.
We pay $40 to $50 a month to charge our car after midnight, when it's the cheapest.
@IrisP989 How much did insurance go up on a Tesla though?
@@markg999 Insurance hasn't gone up any more or less for a Tesla than a comparable ICE Car.
It went up by about $200 per 6 months.
A mid size SUV would cost us probably around $250 to $300 in gas a month, if not more since gas is so expensive.
@@markg999I just bought a used Tesla that is 10 years newer than my 2011 Nissan Altima. I am in my mid 20s and my insurance only went up $28 per month. Saving $258 per month on gas after paying for charging costs.
So I'm not a college graduate or a high IQ person. In 2012 I bought a rental property for 49k. I now rent this property for $1,600 per month. Its all about choices in life. A car will loose its value a be in the junk yard one day, my rental will increase in value and provide me with income until the day I die. WE ALL MAKE CHOICES IN LIFE, WHAT CHOICE HAVE YOU MADE THAT WILL BENEFIT YOU?
I am a regular guy. I wanted a 4X4 truck after college......and got it brand new.....then had kids and wanted a Minivan with power sliding doors.....and got one slightly used....then I wanted a Prius Hybrid when gas was getting expensive....and got that also.....I still have all of these vehicles by the way.....but I'm working from home now and barely drive anywhere....driving these cars now is actually a chore to be honest...all paid off....all are Toyotas running just fine.....but I now see a car as a tool that I don't use often now......
.....nice......punctutation.....
The philosphical dilemma... 😮
I would have leased one down the street from this guy but gm financial offered me zero down so I jumped into a Trailblazer.
It would be nice to know the rest of his expenses. He says he would pay this car off within 30 months. With his income he could do it much faster.
It doesn’t matter. He can afford it either way. He’s just bummed that he is forced with the pressure of making an either or choice for the first time. Welcome to life young man.
Lit ep
And the insurance is higher so enjoy that
Enjoy the car. It’s rated as the safest cars on the road, it’s reliable and you can afford it. There is no reason to sell it and by some $15k gas guzzling piece of junk ad spend an extra $10k just to pull that off. Enjoy the car.
Was thinking the same thing……
Don't sell it & take a 10 grand hit. Keep it & work on paying it off. Then he will feel better about having it.
$686 car payment... i built my house and moved in in June and my mortgage is $703. That's ridiculous
No, you didn't unless you put a crap ton of money down or you sold a previous house and rolled equity into your new house or you built a tiny home. You somehow built a house for 700 a month during peak interest rates and peak building cost. Yeah right. You people have to stop lying on this platform to make it sound like you are so frugal.
@@derrell9259 okay have the closing documents right in front of me. I purchased the land with cash $16,500 50'x150' lot in November 2021 $18,000 after closing. Built my home with the company I work for at $167,500 used the land and on 7/1/2022 got a loan amount for $155,975 at 3.5% yes this was 30 year but that was all I could do as a young adult. My monthly principal and interest is $700.40 now that I look at it. I had a 1 year interest only construction to permanent loan during the build. 955 sqft cape cod with an unfinished 500 sqft upstairs due to no kids or family yet but that will be something I finish at a later date. 28x18 metal building on a concrete slab out back and a 12x33.5 concrete slab across the entire back of the house. I drive a 2005 Saab 9-3, have a motorcycle, make $62k a year and was fortunate to have school paid for with athletic scholarships but I majored in business management and took many finance classes that taught us these things. I have a life that I don't boast about but comments like yours will get it. It is possible I just returned last Sunday from a cruise down to DR,PR, and the Turks. Ive traveled to over 15 different countries. I don't eat out unless it is special occasions, I still wear the same clothes I did in college, I wear shoes from Walmart or door busters at outlet stores, and I manage my money to make sure I can live a life I enjoy. I put down $17,000, at closing so I guess after taking into consideration the land I'm all in from savings around $35,000. But now I have an appraised value of $240,000 with approximately $195,000 into the total project. Interest rates were low that's the main take if you were to do this now you would be looking at about a $1,200 a month but when others were looking to buy 40 year old homes and bidding insane amounts of money I was looking for land and didn't let pressure get to me.
Property taxes and insurance? Debt free, but that's still well over $25,000 / yr. You never really own anything when it's taxable.
@@scoutandscooter I live in the largest American city (500K) without a property tax.
Many States will let you Lien-out taxes, they take it on sale.
@@aolvaar8792 So you just have toll roads, no community colleges, no hospitals and just private schools? You pay somehow.
The interest is less than the 'stupid tax'. Keep the car for a very long time and don't do it again.
He overpaid for that Tesla.
That car brand new is cheaper than that. Plus there are tax incentives.....why?
Lolz im planning to get a used mustang gt for 34k performance pack and its lower than half of my annual income and no debt and have a paid off corolla im wondering if i can get it? 🧐😅 btw in live in texas so gas is not really an issue for me
Bought a used Tesla when he could’ve got a new one for the same price not out the door but also take a tax credit
He just didn’t do his research before buying the product and knows he got taken advantage of by the dealer hopefully it’s at least a performance cause a used Tesla for the same price as a new one is crazy
$115K in San Jose, CA is like earning minimum wage in Nebraska. 💁 (And if you can't pay for it in cash...then you can't afford it!)
Most people can't afford that Tesla. They sell for 50K and more new.
I disagree. Just because someone chooses not to pay for a car in cash, doesn't mean that they can't afford it. You can have a better use of your money by investing it or even putting it in a HYSA with a higher interest rate.
Not true about the minimum wage. Cost of living in California depends on where one lives. 😉
Lesson learned! They'll be okay but I think Dave has said in the past, not to buy a fancy car until you have a million in the bank. True his numbers work this month but the entire premise of Dave's methods is to break the HABIT of thinking it's okay to finance stuff you don't really need. If this is a one-off with the car and he can afford it then okay. But this is not a math problem, it's an emotion problem. As soon as you re-open that door to using credit it's a slippery slope to compromising on other things like the bigger house or the cruise around the world.......Until suddenly you're living paycheck to paycheck again, not to mention that sh.t happens and he could lose his job and spiral downward with debt payments.
Dave says not to buy a NEW car until you have 1 million in the bank. This is a used car, though it is a Tesla.
jeez, parse my words! The GIST of all his different conversations is simply "don't spend a lot of money on a car you don't need" Is that better?@@naomirachel9161
Dave says it's OK to buy a fancy car if it's used, paid in cash, and the total price of cars+bikes+boats is less than half the household income.
tesla isnt that fancy, its everywhere.
fancy is such a subjective term. Perhaps "expensive" or "fashionable" or "trendy" or "overpriced" or "unnecessary" or something else would suit you better ? The debate here has devolved into whether or not Tesla is as good as they claim it is which is completely IRRELEVANT to the MONEY subject that Dave is addressing which is simply DO NOT WASTE YOUR MONEY ON A CAR THAT IS TOO EXPENSIVE FOR YOUR BUDGET! @@coalieroller5663
Well the fact that he knows he will get less than what he paid.. should have told him to get a better deal.... or walk away. Financing is another issue as I am sure he did "in-house" instead of making arrangements with his bank or CU.
He makes $115K/yr, before taxes, so around $90K/yr bring home. He should NOT have paid $40K for a car, and I don't care how much his girlfriend likes riding in it. Jade said there is no wrong answer here...but that is not true! She's not giving advice that is consistent with the long-standing principles DR has been teaching for decades. He should be driving a vehicle worth about half that much, paid for with cash that he saved up, so that he can then move on to BS 3b.
Why is Ken always rushing callers off the phone???
Music at the end says they must take a commercial break. They are subject to radio broadcast regulations since this is a radio show with a couple of cameras for CZcams
@@amireallythatgrumpy6508 I think it's because Kenny needs another bump of coke.
Option 3. It off in 1 year. Not
More than 2.
Nothing against Teslas, but buying a secondhand EV is like buying... a used cell phone.
This guy be some kinds 'O" Crazy!!!! 🤣🤣🤣🤣
He could've gotten a brand new one for cheaper with the incentives and govt credits
Wtf is up with people and their obsession with Teslas especially people that cant afford it
It is a nerd "flex".
Huh? I used to live in San Jose, what's up with this guy? Must be young and not understand he's got decent pay. That's not a lot of debt if that's his only debt. And he's already 3 years into it, 2 more years left. No point in selling it, even though Teslas retain a higher value than other cars. If he got full self-driving, he should be happy. It also pays in the long run against California's terrible gas prices for gas cars, so it's a no-brainer owning a Tesla.
He have no other debt. He can afford it.
He can afford it - lol.
Lolz im planning to get a used mustang gt for 34k performance pack and its lower than half of my annual income and no debt and have a paid off corolla im wondering if i can get it? 🧐😅 btw in live in texas so gas is not really an issue for me
Man with all the rebates he could have gotten a brand new model 3 for less
I have zero regrets buying Tesla - the company, not the product. 😜
Unfortunately, cars are massively depreciating assets (more of an expense really), but a Tesla is not a bad car to own if you need a car. I’d keep the car and pay it off as quickly as possible to reduce the interest charges while at the same time remembering how much it sucks being in debt as a penance.
Once it’s paid off, a good car, the relief of being debt free, and a renewed determination to never go into debt again will remain. 👍🏻
Bruh you can get a new model 3 for $27,740. Why did he pay 40k for a 2020 model 3?
Performance model maybe?
Keep the car and pay it off fast. Not that bad..
I lease a new car every year. Work discount. Dave would probably yell at me 😂
Should have bought a new one for the same price plus a $7500 federal tax credit and $5k depending on the state.
??? He should have bought a 2023 Model 3 off of Tesla’s website at 40k minus a $7500 federal tax credit. Also in California, there’s a state credit on top of that. Buying from a random dealership is a lost cause. This guy needs to talk to a tax advisor about any incentives for a used Tesla.
You only live once! You can't take anything with you when you leave this place! You bought the car just enjoy it!
Personally don’t get the appeal of teslas. It’s all the cost of a car without the freedom of travel.
It's not for everyone. Most people who own an EV own a home, so nightly charging is very easy. And then you can drive roughly 250 miles in one day without charging, but of course, there are a handful of days every year you need to go more than 250 miles. In those situations, you can take a different car (and since most homeowners are married, there is likely another car in the household) or stop for 30 minutes every 3.5 hours, depending on the vehicle.
@@emoney1231 It is a soccer mom car or a nerd guy car. Drive close to home.
@@alinatamashevich3354 Admittedly I am probably a nerd guy, but for me, it's about saving money. I bought a used Chevy Volt for under $10k, and my daily commute of 20 miles costs under $1. I like PHEVs because for 1/5 the amount of batteries I drive 60% on electric.
People won't buy it they can get a newer one for not much more.
$41000 for a 3 year old model 3? A 2023 with all the rebates is cheaper than that.
Jade knows that selling the car doesn't always repair the situation... once you sign the deal your dumb mistake has already been made, the money has been spent. The warning here is that don't succumb to the temptation of financing more car than you can afford. A lot of future wealth was lost to the obligation to pay for this preowned Tesla.
Teslas are very expensive to fix too. These can't be fixed by most privately owned repair shops if they have mechanical or electrical problems. You have to take it to dealerships that sell EVs who will rip you off.
They rarely break these days and have no regular maintenance needed.
A family member has over 40000 wrapped in tools including computer. He has a 4 year degree in automotive technology. He won't work for nothing.
He could’ve gotten a brand new Tesla with better ride and quality for that price
I swear a lot of people like to call to hear themselves flex with their first world problems.
I didn't see that as flexing. Anyone can buy what they can't afford.
Unnecessary debt is a first world problem in the U.S..
It really isn’t that expensive nowadays basically average price.
That's more than a new one. That's the problem
I could have told him that
You should. The battery will be gone in 3-4 years. Waste of money
good thing it would be covered by warranty
@@MrBertstare More EV coping
They don't usually fail that fast usually its after the warranty period...why they have bad resale when they age. Those 80-100k Model S are now in the 20s.
@@yourgooglemeister6745 you do realize that all new cars and cars sold before the warranty runs out are covered by warranty right?
I’ve owned mine for 6 years… battery is just fine. They are much more reliable than Gas trucks.
American designed and made too…
Do these people understand 650 a month is low. Any luxury car is between 800 and 1400 month these days?
You did not lose 10k. You drove it for 3 years dude. Get your math straight.
Buy another car say 20k (if there is any available) and you will still lose another 10k in 3 years.
I mean, its not so much the luxury, for $700 a month or so he pays his car payment and his $20-$40 a month in electricity use. No oil changes. He lives in California, perfect electric car weather. No cold etc. It's kind of a no brainer. Just be careful of the rolling blackouts in the summer lol
People seem to always forget insurance is an additional cost.
Rachel should sell her Telsa and put it towards funding her "delays gratification" swimming pool!🤔
Grab a shovel, help her out, LoL
@@alinatamashevich3354 I would if She'd let me swim in it!😅
I don't understand the problem. Sell the car. Problem solve. The only car you need is one that works and you paid for in cash. If you can't buy three you can't afford it. The reason I say at least three is because two would just be breaking even mathematically. If widget A costs me $60 to make I can't sell it for $60.
Never sell.
Well yea they say it doesn’t pay for itself for 10+ years
Depends what you compare it to. If he got the model 3 performance that does 0-60 in 3.1 seconds, it's not exactly fair to compare it to a Camry.
It depends on how it is driven, where it is charged, the cost of insurance, and the cost of electricity. One might expect the battery to lose chargeability at about ten years.
@@user-mv9tt4st9k If there is an 8 year warranty, I doubt they'd lose chargeability at 10 years. A phone battery generally lasts 2-3x its warranty.