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@brandonhayes8364

6 ай бұрын

Yeah this is completely inaccurate. Especially considering the $7,500.00 tax deduction from the government. My Dad just bought himself a Tesla Model Y. He put down $3grand. His monthly car note is $350.00, his car insurance via USAA is $180.00 a month. That's $530.00 a month. This video is very inaccurate and stops people from even attempting to buy a Tesla, thinking they have no chance of affording when they absolutely have a chance and then some. Somebody making $40 grand a year could afford to finance a Tesla model Y. Guys, do your research before you listen to videos like these, go to the source aka Tesla customer service and see what's what, you'd be surprised what kind of deals you may be offered. I digress.

@rihamirza6086

3 ай бұрын

😮😊

This is where you learn nobody in the US follows that rule.

@NarasimhaDiyasena

Жыл бұрын

Hence why Car Loan debt is over a Trillion Dollars. Banks continued their bullshit with Sub Prime Mortgages etc that caused the 2008 Collapse. Nothings changed.

@itskelvinn

Жыл бұрын

I think it’s a good rule. I make more than that and am still driving an old accord from college. Trying to get a new car but wanted to spend less than the Y. Maybe the 3

@JoshuaMcTackett

Жыл бұрын

@@itskelvinnas someone who got the 3 in Australia before the Y was available, get the Y. It’s a similar but substantially more versatile car.

@mylesgray3470

Жыл бұрын

Six figure incomes are very common in Seattle, where model Ys are dominating new car sales. They are cheaper than most F-150’s which are the most common vehicles in America but those trucks are too big for the cramped streets of Seattle and as a result are not common here.

@meatball4409

Жыл бұрын

And that's why there's the broke 99% and the financially intelligent 1%

ah this day I learn that I'm poor

@heNzVf20c

Жыл бұрын

🤣🤣🤣 me too bro, me too….

@brandonhayes8364

6 ай бұрын

​@@heNzVf20c Yeah this completely inaccurate. Especially considering the $7,500.00 tax deduction from the government. My Dad just bought himself a Tesla Model Y. He put down $3grand. His monthly car note is $350.00, his car insurance via USAA is $180.00 a month. That's $530.00 a month. This video is very inaccurate and stops people from even attempting to buy a Tesla, thinking they have no chance of affording when they absolutely have a chance and then some. Somebody making $40 grand a year could afford to finance a Tesla model Y. Guys, do your research before you listen to videos like these, go to the source aka Tesla customer service and see what's what, you'd be surprised what kind of deals you may be offered. I digress.

@brandonhayes8364

6 ай бұрын

This video is utter bullshit

@MichaelsJohnDeere

5 ай бұрын

I’m a poor veteran at $80K

@thecraze4853

5 ай бұрын

​@@MichaelsJohnDeere 😮, bruh I'm over here making 35k 😭😭

I make $108,000 a year. I drive a paid off 2011 Toyota Yaris with 78k miles.

@princeismypitbull5432

2 ай бұрын

Amen no car payment

@bur3berry852

2 ай бұрын

with 0 bitches tho

@dannyj7618

2 ай бұрын

cool story bro. thanks for contributing.

@looneyyang1326

2 ай бұрын

@@dannyj7618 broke vibes

@ctieco3549

2 ай бұрын

I hate financing cars I tend to go to fb market and buy a cheap car strait cash 🤣 bought a 2016 civic for if I remember 7k had like 89k miles on it maybe more forgot exactly its been my daily drive so I’ve put a lot of miles into it since I got it 3 years go

Look at me driving a $30k car with $24k / year. I like to live on the edge.

@Tigerscar12

Жыл бұрын

Do you pay a lot? I make 30k gross and putting $7k down on a $22k vehicle still leaves me with around high $300s in payments for a 4 year loan

@TheMac7attack

Жыл бұрын

Please don't do that. I think he was joking

@LeoNation007

Жыл бұрын

…?

@mauripekkarinen1

Жыл бұрын

​@@Tigerscar12 Just don't. Cars are the worst investment. You can get a perfectly good car for a few grand. If you make 30k you should not be wasting money on an expensive car.

@Tigerscar12

Жыл бұрын

@@mauripekkarinen1 Im not buying a car for an investment, I'm buying a car because I want one. One I actually want. That will last a while. Should I also only eat cheap vegetables and fruits? Nah fuck that. Also calling cap on getting a "perfectly good car" for a few grand. Sure I could get a low mileage reliable car for much less, but I can afford a bit more with my current expenses.

Me with $2K down payment and 25K annual salary: “So you’re telling me there’s a chance?”

@crazyhandshands9028

5 ай бұрын

Tesla's are garbage

@snusemcgoose1001

4 ай бұрын

Lmao facts

@Mshi-

4 ай бұрын

Lmfao

@wydryfly

3 ай бұрын

Lloyd, there's a chance.

@cybertruck4988

3 ай бұрын

If you can charge for free then yes it is possible.

I make 40k and bought model y . For $45k after incentives. The trick is to marry a wife who makes 150k

@josechavez3997

Ай бұрын

😂😂

@clu4u

Ай бұрын

My gf makes $30k, I make up the difference. $7500 tax credit and 0.99% interest, $630 per month. 100% financing.

@sheneedsme

Ай бұрын

Haha yea my son in law is a teacher and he drives a Model Y thanks to his wife who works at Google.

So a Camry owner makes 100k right?!

@overlay5625

8 ай бұрын

Just buy a used one. Unless you make a really good income, there is no justification for a brand new car

@shashankjp88

7 ай бұрын

Camry is the most popular car amongst Asians(including Indians). The highest earners in the US drive a 30K car..

@user-ci3xl4xi3i

5 ай бұрын

Uber drivers don’t make that much 😂

@Jupiter-shorts_

5 ай бұрын

@@shashankjp88I work at McDonald and have a 28k car

@shashankjp88

5 ай бұрын

​@@Jupiter-shorts_good for you

At that rate I couldn’t even afford a bike 🚲

I put 20k down on mine and make 95k a year. That’s cap just save ur money 💰 you don’t need to make 130K year to afford a Tesla. You just need to know how to manage your funds and not be an idiot.

@bawsebig15

Ай бұрын

That's alot for some people you need DISCIPLINE

@dee0092

Ай бұрын

Facts. Just bought the model Y with 20k as a down payment and im unemployed. Lfgg

@IINVICTA

Ай бұрын

204 monthly maintenance? That’s too much

@Kevin-go5we

23 күн бұрын

This advice is obviously depdendent on your circumstances. If you just have 20k cash no shit you don't need 130k a year, but some people just do not have that money immediately and need a car, sao this advice is more general. Also saying you're an idiot for not having 20k for down payment while only making 90k lo

@KnockoutInvesting

21 күн бұрын

Bad way to spend ur money.

With the 20/4/10 rule it seems that a lot of cars would need you to have a top 10% american income. 10.8k a month is a huge number to me and my small circle of friends, let alone a 130k salary.

@SpacedudeGFX

Жыл бұрын

Most people drive cars they cannot "afford" So many moms in their brand new six figure jeep grand wagoneer prob are not abiding by this 20/4/10 rule

@DrSarge37

Жыл бұрын

Yeah a lot of ppl live outside their means. Ideally your monthly car payment should be 10% of your net monthly income and up to 20% when including maintenance and insurance. That’s why a lot of ppl live paycheck to paycheck because they have a car they technically can’t afford or a rent they technically can’t afford.

@manuelmelgoza7687

Жыл бұрын

@@DrSarge37 this is true! For me i use my 1st paycheck for my car and wife’s car and 2nd check for house payment 3rd and 4th go to to save

@logical_lb3059

Жыл бұрын

$10.8k a month and 130k salary r the same thing

@NarasimhaDiyasena

Жыл бұрын

If anything, this shows you just how fucked things really are, that we would think that a conservative rule is extreme given that everyone is driving cars that they really can’t afford. It’s the 2008 Sub Prime Mortgage Crisis Auto Addition, which is why Car Loan Debt is over a Trillion Dollars.

You weee looking at the potential savings price. The actual price is $53,490

@thesnowman2509

Жыл бұрын

nah, potential savings works fine cuz unless u sell it b4 five years, that how much u pay

@daviidfm923

Жыл бұрын

@@thesnowman2509 what…..

@manman0512

Жыл бұрын

@@daviidfm923😂

@a55tech

Жыл бұрын

it’s just the savings over gas, which are real savings so it’s fine

@imwayne4159

Жыл бұрын

@@a55techbut the potential savings don’t decrease the monthly payments tho right?

I make about 220k a year and I just purchased 2024 Tesla Model 3 Performance. My monthly car payment is around $720 which is not bad at all!

Well I make 60,000 and I pick mine up tomorrow. Of course you need to make enough money to provide for your family, but if you can ink out being able to get this car and it doesn’t truly hurt you, I’d say go for it. Tomorrow is not promised for no one, and i don’t live to work, I work to live. So while I still get to live, I’m going to enjoy it in my model y performance.

@Ace.x999

11 ай бұрын

True

@kevinbaker07

11 ай бұрын

And the government incentive right now is $7,500 and NJ offers up to another 4k off if the MSRP is under 45k

@EDP-zc9hb

10 ай бұрын

Well said

@horologie

10 ай бұрын

You work because you're drowning in debt.

@dabulls1g

10 ай бұрын

I make $80,000 and I’m still not going anywhere near one of these things, stick with my 204k mile civic.

Yes! But also I’ll just drive my car until the wheels fall off 🤣

@Pedro-qm1of

18 күн бұрын

when whey they do 500 each

The tesla model y with white interior and black rims used to cost 74k now it’s 55k

@DavyDave1313

Жыл бұрын

Supply went up, demand went down. You can pick up a model y used for cheap

@G33-OH

Жыл бұрын

40k now in California 🥱

@aesthetic_blaire

Жыл бұрын

@@G33-OH I don’t believe you

@thesnowman2509

Жыл бұрын

@@DavyDave1313 no... both supply and demand increased. U have business knowledge from Mcdonalds lol

@DavyDave1313

Жыл бұрын

@@thesnowman2509 I have business knowledge that the Tesla rep told me - sounds like you’re projecting there bud - it’s ok try harder in life

If you want to get 130k after tax you probably need something like over $200k gross income

@thesnowman2509

Жыл бұрын

180ish

@H0rseMac

10 ай бұрын

@@thesnowman2509depends where you live…

@kmchow4971

8 ай бұрын

He is from California

@LebronCCP

7 ай бұрын

​@@kmchow4971 i make 250-300k gross and i feel poor in la

@hockey161616

5 ай бұрын

Huh? He is talking gross, not net. He said 130k needs to be your annual salary. Not your take home.

The Tesla your referenced has a selling price of an average new car. So you are claiming the average new car buyer needs to make 130k per year?

@thomaswilson2917

Жыл бұрын

My only statement is about how much the average new car price is. How much you need to make was not by me. I personally think his claim about how much you need to make is wrong. The average Tesla model S owner makes around 130 k per year. The Tesla sells for double the average new car price so obviously there is something wrong with his income Claim.

@serotonin2456

Жыл бұрын

Y is in 50s. Thats above average

@thomaswilson2917

Жыл бұрын

@@serotonin2456 model y long range is 50490 before 7500 tax incentive. New car avg price is 48k. Even before tax incentives prices very close. With tax incentives.. Tesla model y 5k cheaper

@serotonin2456

Жыл бұрын

@@thomaswilson2917 Good point but not lets talk about the tax incentive like IRS writes you a check for $7500. Its up to $7500 if you owe when filing.

@thomaswilson2917

Жыл бұрын

@@serotonin2456 without the incentives it's only a 5 percent difference

7500 tax credit and 1500-2500 in gas savings a year can be factored in. My 56k model y performance is as expensive as most -40-42k car

Bruh, I make 42k/yr and just got a model 3 performance

@jamierodriguez4562

2 ай бұрын

Debt

@giovannigianfriddo7786

2 ай бұрын

​@@jamierodriguez4562 why debt

@MonkeyManDogRescue-ou6sn

2 ай бұрын

And that is why you are poor

@giovannigianfriddo7786

2 ай бұрын

@@MonkeyManDogRescue-ou6sn you cant know

@dannyj7618

2 ай бұрын

This is the way.

Owning a car in the US is crazy expensive these days..$204 per month on insurance!?, I pay less than $1000 per YEAR... I saved up for my Model Y, paid all cash no finance required, but I got a good price for my old gas clunker, so that helped. My salery is about $75K per year. Already started saving up for my next Tesla.

@wrongbomb

Жыл бұрын

Spent more than a year of salary after tax on a car that will last 10 years... same here life is short😅😅😅

@DavyDave1313

Жыл бұрын

Same. I’ve got a good amount of money saved up and my trade in is valued at $38k. I’ll finance the rest should be around $300 monthly for my Y which I’m super comfortable paying making $65k annually

@siwkolis

Жыл бұрын

Thank you I needed to read this I am now motivated to purchase one all the best brother 🍻

@vxnova1

Жыл бұрын

Depends on where you live, Mine in Wisconsin with a 16 year old girl named on the policy for 3 vehicles, is $1700 per year, fully comp, just ordered the model y exchanging the tundra so will see how that affects the policy,

@JBALLER02

11 ай бұрын

That was insurance PLUS maintenance. I’ve owned a model S since 2017 . My insurance is 97 bucks. I haven’t had to pay for any maintenance on my car.

Easier and more accurate rule: Car should not exceed half of your annual income.

@bradleystuart8608

10 ай бұрын

Only rule: Always pay cash

@JC-rp6sp

2 ай бұрын

@@bradleystuart8608this.

@InsighterofTech

17 күн бұрын

@@bradleystuart8608a lot of people don’t have like 50k cash for a Tesla in their hand

I paid in cash and I don't even make 100k lol

@Palpatine4Senate

10 ай бұрын

Ok so? This is about financing. Not paying cash.

@FXDism

8 ай бұрын

​@Palpatine4Senate finance is interest which means you are paying more 😅

@DanMarcelino

8 ай бұрын

@@Palpatine4Senateyeah, but financing is typically when you cannot afford to pay full price.. in most cases, if you can afford to pay and choose to finance, you're just giving the dealer more money for nothing. Financing is a loan.... interest.... 🤷🏽‍♂️

@baoto9071

8 ай бұрын

@@FXDismif the interest is low, paying 1000-1500 of interest over 2 years is actually worth

@FXDism

8 ай бұрын

​@baoto9071 absolutely agree as long as its 3% below that then is as good as inflation average or less and works put cheaper if you have money sitting in the bank which can be used for actual investments with ROI higher than 5%

I own 3 houses and drive a 25 year old car it’s a hooptie lol

@aguyfromnothere

2 ай бұрын

Why does anyone need more than one house?

@blur3253

Ай бұрын

@@aguyfromnothere way better than wasting that money on multiple cars

I’m poor and drive a Tesla

@thesnowman2509

Жыл бұрын

um.. why? get a k truck, they're cute. And cool. And only 1-5k

@AB-wy7dr

10 күн бұрын

You and everyone else. It’s the Tesla way.

$204 / month for insurance is unrealistic.

@jackt7331

2 ай бұрын

That's why he said insurance and maintenance.

@itsjrj

2 ай бұрын

That's actually right! I pay 215 a month.

@AB-wy7dr

10 күн бұрын

It’s more for most people. Dummy.

Idk seems like that rule is only if your going to pay off the loan. Vast majority of people trade the car in after 2-3 years.

With that logic you must make at least 8 figures to own a car at all 🎉

@AB-wy7dr

10 күн бұрын

By that logic, you are and will be poor forever.

General rule of thumb would be if you want a new luxury car then if you can't pay it in cash comfortably you shouldn't be buying it yet.

@paveltantsiura

2 ай бұрын

why do you think so? What's the max amount from the net worth or annual income you think is acceptable for car spend if you buy it every 5 years?

@JC-rp6sp

2 ай бұрын

⁠@@paveltantsiuraissue is why would you buy a car every 5 years? Thats the most financially irresponsible thing I’ve ever heard. If you’re doing well and you’re out of debt, good on you but you’re just giving money away. Use that money on assets instead of liabilities

@joefuentes2977

Ай бұрын

@@paveltantsiura depends on your net worth and income. Me personally, I do have a car that I bought new which is a 2019 Honda Civic but I have a net worth about 500k with over 100k income after taxes so I can afford to spend that while taking care of my family and investing comfortably. But I know the vast majority of people cannot do that and most people shouldn't even be buying a new car. I wouldn't buy a luxury car even if I was a millionaire in net worth unless I was making several hundred K a year sustainably and even then I probably wouldn't do it because it's not a good investment.

@paveltantsiura

Ай бұрын

@@joefuentes2977 Thanks! Now I drive 2014 Fusion Hybrid Titanium trim. Overall it's a great car. I bought it used for 6k and it runs great. I lost like 25k on my car once. It was painful and I don't want to do it again. I'm just into sport cars and want to race on the track as a hobby at some point soon. I know it's a very expensive hobby but I still try to do my math when I can afford it. I might consider buying porsche 911 as an investment asset, since they go up in value.

@paveltantsiura

Ай бұрын

@@JC-rp6sp I just love cars, and racing it brings me joy. I don't have a debt, and run a small business. So you probably right that it's irresponsible, but if it's 10% of my annual income I wouldn't care much.

That's basically what you need to live comfortably here in FL for a one person household.

This is the right formula for everyone to use in order to live without financial concerns about your car.

This makes you realize even more how bad it is who people who go to Payday loan places and get thousand dollar car payment because their credit score and they only make thirty-five thousand a year. This reveals how much you should be making to drive a car like that and not go broke. And they're doing it on 35k LOL the struggle is real. It's all about intelligence and education 😂😂😂

@Mike-lt6sj

Жыл бұрын

Nothing to do with either. It's deferment of gratification and the need for acceptance.

@ciberdude611

Жыл бұрын

@@Mike-lt6sj It's not that simple. Cars are outrageous in prices now. My first car I saved up $5k for in the 1990s. Used Nissan. Not fun at all to drive but actually very reliable and I ran it for a good 5-6 years into the ground. Can't do that anymore. That same $5k car in 1995 would cost an easy $20k today, plus the dealer markup. This economy sucks.

@Mike-lt6sj

Жыл бұрын

@@ciberdude611 I agree with this economy being the worst. It is the worst in my life. Went from best to worst in 3 years. People really screwed up in the US, but the whole world went stupid with Covid, and it screwed up manufacturing. To it all off with the wealthiest people using it to take advantage of everyone, and here we are. Our government made it worse, and they continue to decide it isn't bad enough, so they try harder to really f things up.

I dont make anywhere near that and drive a Model Y. Financing is not the only option

@WyattHutchison1229

Жыл бұрын

What’s the other option?

@tomjones2056

10 ай бұрын

@@WyattHutchison1229GTA bro

@CatDevz

7 ай бұрын

@@WyattHutchison1229 Buying in cash or leasing

@curiosityredpill7030

5 ай бұрын

What lease?

@trex2092

3 ай бұрын

Cash in some shares purchased years ago.

Shoutout to stocks and being an employee just ordered mine and payin nowhere near that with a large down payment that didnt affect me and $7500 tax rebate

“We don’t live to work we work to live” appreciate you I needed that

I make like 5k a year and drive a mo'Dell x

My 2023 model y was self financed at 42,630 after my down payment. My monthly payments are $696 and insurance $187😮. My first payment is due in 90 days. So I'm under $1000

@rickybobby7276

3 ай бұрын

So you have like 400k net worth and make like 220k per year? If not ouch.

@jbnbdar3528

2 ай бұрын

@@rickybobby7276 it’s not that bad and I’m all for saving money but 400k really I’ll buy a G wagon cash on that income but it also makes a difference if you have many bills or not

@nfzeta128

2 ай бұрын

@@rickybobby7276 ?? That's not even keeping with the rule.

@ceciliaaguilar1001

2 ай бұрын

@@rickybobby7276 i have more than 400k worth and no i don't make over 250k per year.

I guess all I can afford is a Geo Metro

That is why i’m driving a 2018 corolla le

😂😂😂 i make 150k a year and i just bought a model x plaid

@alvinjrraa

8 ай бұрын

Cool story bro

@InsighterofTech

7 ай бұрын

@@alvinjrraaif he makes a short about that one he’ll say you need to make like 300k a year

@dannyj7618

3 ай бұрын

cool story, bro. you enjoy them butter fly doors - and that 200 mile range - oh wait - 150 (true) range.

LMAO 😂 The average income for middle class in America is $81K.

@AB-wy7dr

10 күн бұрын

Riiiiiight……..??

And here I am, planing on getting a new car to replace my old Nissan with a 50k income. I guess I will stick with my old car until it lasts. 😢

@curiosityredpill7030

5 ай бұрын

Same

@dannyj7618

3 ай бұрын

or dont listen to this fool - really redo your math - and get a testa. this morons math is WAY off. You can easily buy a new tesla on 50k a year. EASILY. if factor in gas savings - your car payment will be like $200.

what if i put down a larger down payment?

That 20/4/10 rule is very unrealistic.

@Palpatine4Senate

10 ай бұрын

No. Your expectations for a car are unrealistic.

@MXALOVE

9 ай бұрын

It kinda is, but at the same time this is the amount to comfortably afford it. Basically anything can happen within a month or a few and you'd be fine.

@adrianjamesNEWS

9 ай бұрын

It was created during a time when cars weren't so damn expensive. It's a laughably outdated formula in 2023'.

@discocycle

8 ай бұрын

It really is the rule we should be following. We shouldn't be spending so much on cars

@James_36

5 ай бұрын

@@discocyclesurely what matter is the monthly cost, I can get a 1.8% interest rate for 4 years PCP here and because it is electric I can charge it at 2pence per mile which saves me 200 a month in fuel. If I put my 15k car worth in the deposit the car is only costing me effectively 150 quid a month to finance with the 200 quid fuel saving. You don’t need 140k salary to afford 150 quid a month. Most people waste more than that a month buying coffee and dumb food

I made half of that, with a more expensive model and trim ($60k) with no down payment. Paid it off in ~2 years, while having a mortgage that was higher than the car payment.

@jazzm5557

7 ай бұрын

How?

@IAmTheGlovenor

7 ай бұрын

@@jazzm5557 Spend money wisely. Like not eating out all the time or drinking alcohol

@MrYourecool2

7 ай бұрын

He ate rice and beans, never left his house, and worked all the overtime he could get.

@rikimarizard

7 ай бұрын

And he walked 10 miles every day to work… with no shoes

@curiosityredpill7030

5 ай бұрын

How

I dont even have a job and I drive a Model 3.😂

For everyone talking bad about the 20/4/10 rule… please realize that if you’re not abiding by it, YOURE LIVING OUTSIDE YOUR MEANS!! if you make 90k or below, you should be driving a 50k car unless you have a shit ton of money already saved in the bank

They never specify before or after taxes

@ajbothe

Жыл бұрын

You have to use your best judgement and decide if you can afford it comfortably or not.

@jabariphillips8855

Жыл бұрын

Tesla REQUIRES everyone to pay sales tax upfront. It’s not worked into your loan and is not an option to do so. Or were you referring to income before of after taxes?

I need a mentor like you Humphrey.

Dang, you make it sound like Im buying a new house :)

PSA: we all learned this was a lie..

Tesla owner here , What he says isn't accurate. Insurance is not that much.

@labelleminks

Жыл бұрын

Question, does Tesla have their own insurance?

@ceciliaaguilar1001

7 ай бұрын

@@labelleminksyes and it's cheaper than other companies

@odysseusprime9285

2 ай бұрын

10 months late. He says insurance and maintenance costs. If you do at minimum the brake lubrication that's recommended and tire rotations, then this is fairly close.

@dannyj7618

2 ай бұрын

@@labelleminks Yup. I pay $108/month for brand new 2024 Model Y LR full coverage thru tesla.

@labelleminks

2 ай бұрын

@@ceciliaaguilar1001 I did hear that

Even with a $20k car that rule is out of reach for more than half the U.S

@nfzeta128

2 ай бұрын

It's a really old formula that isn't realistic for the most part nowadays. You'd have to land on a really reliable used car which is difficult and usually involves a fairly risky bet.

@AB-wy7dr

10 күн бұрын

Now you’re getting it

@AB-wy7dr

10 күн бұрын

@@nfzeta128it’s realistic, you and others just got dumber.

Love these rules. I will start using this for everything for now on

The pivot towards ev is largely due to politicians, not the vast majority of market demand.

Whoa dude! Are all your videos this concise? I've never subbed so fast after seeing a single short before lol. Crossing my fingers!

What if you make 50k a year but don’t have bills

@Jmort93

Жыл бұрын

Smash that purchase button, model Y is now the best value with the best charging network

@Mike-lt6sj

Жыл бұрын

​@@Jmort93😂 Tesla is a great investment for Elon.

You forgot to include gas savings and incentives in the price, $7500 incentive and $200 a month savings on gas make it more affordable

My first new car was a 1971 Austin America, the sticker price was $2005. We could just barely afford it. Times have changed a bit.

Keep in mind that 130k after tax is pushing 200k.

I make that and drive a Subaru worth $1,500 and 223k miles. Planning to buy an investment property instead of a new car.

@John-209

Жыл бұрын

You can’t drive an investment property

@m4punisher25

Жыл бұрын

But you can easily get another/keep a cheap car while your investment property is actually making you money and not depreciating every mile you drive it.

@thomaswilson2917

11 ай бұрын

To Me safety is a priority. If you die in an accident you don't need any money then! $1500 car is not on my list as a safe car.

Just bought a model 3 for 38k (42k after tax & delivery). Going to get the $7500 back in EV tax credit which will take the investment down to 30-34k depending on tax. Paid cash, pretty happy with the purchase

@itskelvinn

Жыл бұрын

The price will probably go up after July 1st too. You might’ve caught the bottom

@DatSamurai

Жыл бұрын

@@itskelvinnindeed he catch the bottom as of July 2023 🎉

@itskelvinn

Жыл бұрын

@@DatSamurai I think it went a little bit lower because the referrals got better. I just checked and a base white is $37.5k near me. With the referral, it takes off another $500 so $37k. I think the lowest a month ago was $38k with no referral discount So a $1000 difference. Not too bad

Perfect, you sold me! 😂😂 I’ll take two 🤣

I still can’t believe I got incredibly lucky with my vehicle purchase right before the pandemic hit and the prices went crazy

You have 5 years to pay the car off on typical financing. You don’t need to make $130k a year to drive one of these cars. I make 50k a year on my own and have no problem paying the insurance and car payment and everything else I need to pay. You just have to budget the cost of the car into what you already pay monthly and how much you make monthly. You’ll obviously need a some extra for unexpected expenses. So keep that in mind.

At that income, wouldn’t you be ineligible for the $7500 tax credit?

@liam1902

Жыл бұрын

No. For single filers, it's $150k AGI. For married filing together, it's $300k AGI. That being said, I'm pretty sure people who can't afford a Tesla are still buying them on a long loan with prob a high interest rate. Americans love to drive fancy cars they can't afford.

Gas saving for me around 6k- 7k per year

On top of that imagine the yearly salary is actually after tax basis.

Car dependency is the reason why Americans have smaller savings and lower quality of life than their European counterparts. Honestly insane that these costs are normalized. Working to death to own a vehicle you can't afford, to live in a house you can't afford, and never be able to retire.

@noname-mm9of

Жыл бұрын

I genuinely would like to know how your country is doing better?

Bro pulled these numbers out of his ass😂😂😂😂

Need to update this short with all the price cut that Tesla been knocking off.

Woah now that thing is $30k 😮 WOW

I purchased used 2021 model y at 15k milage with 7.500$ down payment. I have to pay monthly 636$ 7.19 interest rate. But I am planing to do uber as a side job for couple hours every day.

I make over 200k a year and still can't pull the trigger on Tesla.

@Bryan-fb8dh

Жыл бұрын

I make half that but drive a ford focus. Id say your smart, life ends eventually and you cant take it with ya. Moderation.

@thesnowman2509

Жыл бұрын

Damnnn whats your job?

@Sebastian-jo7bn

Жыл бұрын

​@@thesnowman2509 BSing on the internet.

@thesnowman2509

Жыл бұрын

@@Sebastian-jo7bn lol

@thesnowman2509

Жыл бұрын

@@Sebastian-jo7bn it’s not that unusual. Lots of people make 200+

I just bought a model Y used; traded in a jeep. My monthly payment is less than $300 per month. Insurance went up by $50 / month. The gas savings make it worth it.

Pay $800 a month, but YOLO and I’m all about today. I used to hate driving but this Y got me back to feeling good, safe and baller on the road……. Fxck FSD or Auto Steer tho. The cruise control is good enough for me.

130k after taxes I think is what you meant to say.... so technically more like 220k a year T_T

Wrong, you can definitely make 50k a year and afford this car,

@jorgepadilla9945

Жыл бұрын

for sure!

@Htxracing97

Жыл бұрын

I make 65 driving trucks and actually want one but then I see videos like this and get worried

@MikeLogicDoWork911

Жыл бұрын

Only thing I see that expensive on the Tesla is the insurance, good down payment will lower monthly cost, if you have good driving record your insurance shouldn’t be a issue.

I feel like these should include gas savings as well, no? For instance, in my case, a Tesla would exchange close to $600 per month in fuel for $125 per month in electricity. That’s $475 per month that I feel could be added to a Tesla and be reasonably equivalent.

$900 for a car that’s gonna depreciate in value? Is you crazy??

@AB-wy7dr

10 күн бұрын

Yes, yes they are

130k a year to buy a 50k car is nuts

Holy cow... I can own a Tesla and I didn't even know it.

I bought a Toyota Camry hybrid 2020 in 2020. I leased it with $750 down. $410 monthly payments 3 yr lease. Purchase price $34k at the time. Lease buy out was $19k I refinanced. If I did it all over again I would save the cash to buy the lease buyout cash. Nothing better than buying a brand new car to build credit. It feels so good to know your car in and out. I’m planning on paying it off in 6 months. I’ll get a solid 10 more yrs with it

Imagine only putting 20% down. There is no way I’d do less than 70% down. Probably closer to 80%

I can't even live in the tesla model Y to afford it ,man am I poor!

Used ones are 32-36 in my area minus the 4k for the used credit gets you to 28k 4k down get you to 24k +32/month for electric +insurance. Insurance is the wild card depending on your state!

Okay now factor in savings you make with it. Now factor in how if you buy it used they hold their value fairly well compared to others

My insurance for my 3 and y is 1400/6 month. I buy tires every year or 2. But there is no maintenance.

Imagine paying the price of an apartment rent to drive a car. I hope you are sleeping in that car if you’re paying $1200+ a month for it

@tomjones2056

10 ай бұрын

Where tf do u live bro Detroit. 1200 will get you a closet in heroin heights

@DranksandGrub

4 ай бұрын

I love in Iowa 1200 you can get a decent house in a good area or a nice apartment or condo. Sorry to break it to yall New Yorkers and California people$1200+ here you have no reason being in a s hole area😂

Do Prius or Prius Prime!! Lol. Awesome videos man.

If you have joint income thats about average give or take. Its a premium car in quality and price.

Or if you make payments of up to 48 months for around 900 gbp fixed yearly is 9 grand and the insurance would be 15k a year. You get 24k a year to keep a tesla safely. And most of that is insurance which will go down over the years

$170k but still not buying a tesla. 😂

When I ordered mine it was 2% APR interest rate. But now car loan rates are much higher 😢

omg, you just authorized me to buy a MY - oh, once I have that 20% saved up for this, lol

I live in New Jersey. Tesla Y base model total price: $45,038.00 Federal tax credit: - $7,500.00 NJ ev rebate: - $4,000.00 Total purchase price: $33,538.00 I'm getting one with a $10,000 down payment. Now do the math with that data pls. 👍😎

@nfzeta128

2 ай бұрын

Exactly, in today's world if you want a car beyond that formula you just make up for it in down payment. For EVs especially, between the rebates and the low maintenance costs, it can easily pay off.

Salary / 2 so you need at least 100k salary for model Y

I don't have any bills so as long as I make the payments I can buy one. But I was thinking of leasing.

My sister makes half of that and is at the dealership right now... she also wants to move out of our parents...

What's the rule if you just pay cash total up front and don't finance?