Lets not forget the law of averages...

Lets not forget the law of averages...

I know people with $2000/month car payments. ONE person with a $2000 car payment takes 8 $200/month car ppayments to balance it out..

So what, 15% of people have loans above this “AVerage”? Maybe? Doesn’t seem so crazy...

MANY buyers are upside down... keep that in mind. So they may buy a $31,000 car but owe $40,000 on the loan. This happens WAY MORE than most would guess...

PLUS most buyers buy aftermarkets like warranty and maintenance. that could add another 5 grand.  $31,000 car + $6000 upside down + 5000 in aftermarkets is 42k!

Totally this! :) 

I think the point is that most people don’t say, “hey I can afford a $10k car.... So if I can finance it, I can get 5% in an alternative investment”. Instead they say, “3% Loan? that means I can afford the payments on a $50,000 car instead of the $10,000 car I was going to buy cash”.

THATS what screws people over.

But…

But if you pay rent, someone else is paying for all that PLUS profit margin.

So if you RENT vs BUY a similar house, you virtually always save money buying. However, if you buy a $450,000 house instead of renting a 2 bedroom condo, you’ll probably lose some money unless you luck out with an appreciation spike

Not that everyone can do it, but I used to live in Syracuse NY, and I would definitely ship up cars from Florida for like $5000, drive them for a while ,and sell the m for like $8000 rust free...

So much this. If your smart enough not to pay cash, then you aren’t the one making the dumb car buying decisions.

There’s always exceptions...

When I bought my hyundai, they had 0% on CPOs...

No more money off if you didn’t take it. 

Good work... keep it up.

You are part of the 1% that’s savvy with the money. The problem is when the 99% tries to apply your logic, do you know what they do? They buy a car they can’t afford with a payment that almost bankrupts them because “The interest is only 1.75%... I could make 8% if I invested it”... but they…

No ones getting 2% on a used car rate even with prime.

3.6% is current prime rate on a NEW car. Used is about .4-.6 higher.

SOME lenders may be closer to 2..

2% hasn’t been since since 2017

I’d say 99% of used buyers are buying a car more expensive than they have cash.

The theory is that if you can get 10% on ALL the money, borrow at 5. The problem is most people say they can get 10%, but borrow at 5... while having NO savings to actually earn the 10%. They use it as straw logic...

.001% of the population shops for a $XX,XXX pickup.

99.999% shop for one that a bank will give them a loan for and that they can “afford” the monthly payment...

I disagree.

As a 6'9"er, I find my getting in-and-out performance is greatly enhanced.

Bill Gates?

what percent of the tailgates are actually valuable?

No ones stealing your base tailgate off a 1992 silverado... its the $2000 tailgate with the built in step and camera.

Takes 30 seconds to steal and its worth as much as many people make in a month...

But the tailgates WILL get stolen when they have this cool tech.

Its an issue with the ford guys with the bed steps. I swear every truck we had them on had the tailgate stolen. We replaced all the tailgates with normal tailgates and no one ever touched them again.

Can’t help but think of that video of like the 2' of snow with some dude in a convertible driving behind the camera crew... yes.

The targa has never been bolted in? Mine sure as heck was... and every other how to i read about the C4s discusses it... It was awful.

Reading your own link states:
“Any make of car delivered with factory installed roll over protection meets the minimum standards for PCA DE events. In these cars we recommend the soft-top be in the up position or the hard top installed. If the top is in the down position, restraint system* must be used. An SFI and/or…