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?
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.