“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.
“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.