Screenshots of people being insane on Facebook. Please censor names/pics of end users in screenshots. Please follow the rules of lemmy.world
So $3300 a month just for having two tesla's? And other debts too? I wonder what debts, since you prioritize the tesla's over them.
Did you skip economics class or did you miss education in general? That this is unsustainable must have been crystal clear long ago
Yeah this is less annoying Tesla and more real sad American economics. We aren't taught how to manage debt, and this poor fool has ruined at least the next decade because he wanted two new shiny things and the bank said sure.
In 2008 the banks were to blame for sure for giving out bad debt and then gambling on it, but for me it showed how financially illiterate so many Americans are. The simple difference of seeing what the bank says you can borrow, vs what you should borrow are very very very different things.
We aren’t taught how to manage debt,
Do people need to explicitly be taught "You bring home $5,000 after taxes. You spend $2000 on rent, $1000 on fixed bills, $1000 on semi-fixed expenses, and $500 on fun. Do not buy a thing that raises your fixed expenses by $2000"?
I guess so.
I mean, I think a lot about a guy I worked with years ago. He said as soon as he turned 18 he got a credit card and maxed it out. No plans to pay it. Just enjoyed having a new TV, clothes, xbox, shoes. And then he got in a lot of trouble, which should have surprised no one. But at least he was getting his life together, ten years after the fact. Though we haven't talked in years. I worry he's a trumper, despite him being hispanic.
American society tries to force debt on you and they try to hook you as soon as you can legally sign a contract. . When you get into college, you are inundated with offers from tons of CC companies with seemingly good terms but they're actually horrible. It'll say something like 12.9% interest rate, but in the fine print it tells you that it jump to 23.9% if you're late on a payment. One brain fart or patch of bad luck and you're fucked for as long as they can keep you under their foot.
If you're fortunate, you had parents who taught you how to avoid the worst of them and to manage debt. But even so, it's not easy because there are so many traps. Worse still, you have to do it. If you don't get a credit card, you will have a very bad credit rating. That means when you go to buy a car or anything else that has to be financed you will get shit terms. It even makes it harder to get an apartment because the manager will check your credit before offering you a lease.
If you’re fortunate, you had parents who taught you how to avoid the worst of them and to manage debt.
My parents didn't especially go out of their way to teach me to be frugal, but I guess I learned from watching them. The idea of buying something I can't actually afford on a high interest credit card makes my skin crawl.
I don't get why they were approved for 72k when they still owed 44k on the other car. Unless they had a rich cosigner the financial company is partially to blame for seeing their outstanding debt and still trusting them with another 70k.
Oh you can be approved for a ton of debt that you can't actually afford. Banks take the position that it's your debt and you can do what you want so long as you can make the payments. They don't care if you spend 90% of your income on your debt payments. (Remember they get money from the interest so the worse you are at repaying the better it is for them).
When I got my mortgage they approved us for 2.5 times what we asked for it. It was asinine. We took a much more modest house and have been happy with that.
Food $200
Data $150
Rent $800
Candles $3,600
Utility $150
someone who is good at the economy please help me budget this. my family is dying
I was able to reduce my candle expenses by 10% by switching to unscented candles!
Have you tried, I don't know, buying less food?
Jesus fuckin christ, so many layers of memes!
J. Jonah Jameson, laughing maniacally.
This dude is paying >50% more on fucking car payments than I do on my mortgage, on top of other debts. Who is lending these people money? Like I make okay money, but I'm still driving a 13 year old vehicle and not feeling like I'm in a position to take on a car payment in this economy.
I think people who shouldn’t are just taking higher interest loans that the dealerships are pushing on them because they are higher risk. They want status symbols and are too dumb to realize they can’t afford them. The car dealer pushes it through because there’s not really any risk for them.
I heard they’re doing ten year loans now for some cars that are around $100k, so I think people are falling for that, then wanting the next new thing and rolling the negative equity into their next one.
This isn't a cybertruck or Tesla issue. This is a stupidity issue.
But they're posting to Cybertruck Owners Only in order to hear from someone with good judgement.
He's hoping for a clever solution, like mining Dogecoin with the Cybertruck battery for free heating.
everyone who buys one should be buying two, they are very social creatures and can get depressed if they don't have a friend
Uh, looks like 1 cyber truck and 1 model Y. Still appropriate for debt ridiculousness.
He has TWO luxury cars and then he's "scraping by for too long"?
Why did you finance two luxury cars when you need only a means of transportation?
Going into debt to buy not only one, but two teslas? I'll call it bad investment.
You never know, maybe they'll become classics in the future holds back laughter
$110k in two cars that aren’t even speciality cars. I mean, if one were a Porsche and the other some kind of Super Splat Pack Snakebite Gangrene Edition of an American muscle car I could see those prices, but at least with the latter two you’re paying for your ego and not Musk’s.
I ate ramen for breakfast today.
I want these people off my planet entirely.
It's called the "Super Splat Pack ScorpionSting Gangrene Edition" and in 30 years it'll be worth almost exactly what I paid for it minus 90% depreciation thank you very much
I checked KBB and indeed the Cybertruck sells for around $72k in the condition stated.
You guys say he is a moron, but the rest of the Cybertruck buyers that would pay that kind of money for a used CT is just as dumb.
Okay, I'm going to leave aside the fact that he's got two Teslas, which I hate with a passion.
He literally said he's about even on the Kampfwagen.
The model Y is, for all intents and purposes, all the car anyone really needs (if he NEEDED a truck, he'd have a real truck). He's upside down on it, sure, but there's nothing to do about that unless he can pay off extra. However, he can keep making the payments and just driving it. It should still have several years of battery and drivetrain warranty unless Tesla's is shorter than the industry standard 8 years.
Sell the fucking Panzer and drive the Y until you've managed to pay off your stupid debt, numbnuts. I WISH my debt problem was that easy. My ex put me deeeeeep into 5 digits of debt with constant manipulation (it started off with her getting pregnant "on the pill" so she could start threatening me with never seeing the baby if I don't do the things she wants me to do) and I have NO assets to show for it. Nothing to sell. My car cost me under 2k. Now totals to around 3k with the registration, insurance, maintenance and repairs I've done. My only solace is that even after I get everything paid off, nobody's giving me a loan for another 5 years till the debt registry entries are cleared. I literally can't get into more debt anymore, other than the interest on old shit, which luckily is capped too.
Except that CyberTruck owners are not allowed to resell for a certain number of years, according to their contract.
Edit: Apparently the contract was only for one year, and it has since been discontinued.
it was one year, and this was removed because it turns out speculating and flipping the Cybertruck was not a thing.
This is like that meme where its like, normal debt normal debt 8000 dollars a month on magic cards or whatever, help me my family is starving
my other debts
IDK, have you tried sports betting?
Why would anyone take two loans to buy two cars? Is this normal in America?
Car loans are depressingly common. It's like normal people haven't heard of second hand vehicles.
Two loans is pants on head territory though, even for the US.
Many new vehicles are financed, it's why most ads here (Canada) will give you the biweekly price. Annoyingly, when you do go to a dealer, they are usually able to give a better deal when you finance compared to if you buy outright. The nice thing is though legally we can't be penalized for paying it down early, so there's nothing to stop you from financing and then paying it off.
Car payments are a pretty common thing, $1400 monthly in car payments not so much.
Buddy gives twice as much cash to their auto loans and insurance than the median household pays in taxes.
Selling the Cybertruck and keeping the Y would be the wise option.
How is the Y the one he's upside down on?
Next post will be: hey is it okay to smoke fentanyl? That slightly deranged guy from the neighbourtent said its fun?
Conmen have a name for people like him, it's called "a mark".
1400 USD is about 8900 DKK.
This person spends more money on his cars per month than my rent. And he's complaining about being stuck in a financial bind.
Level 7 susceptible in real life.
How are you in a Cyberjunk owners only group? I'd think that kinda group would be well guarded?
I think his debt is funny. When it's this blatantly their own fault/avoidable I can't help but feel schadenfreude. Don't finance a car when you're already in debt, and definitely don't finance two top-spec luxury cars.
Bold of you to call them luxury.
"Luxury" as in "fucking expensive"
I own a cheapass car. Let me tell you the amount of time I spend worrying about monthly payments on it...0. I own the thing fully.
