So given our brain dead administration is so into wealth distribution for the irresponsible, what's next for them? We know in other countries energy, food, and other staples have gone through the roof. Housing is showing signs of major weakness. Netflix and other luxuries are getting snipped.

What about cars? I hear repos are picking up. Watch this little clip and see how people have no financial clue in their body. Not a shred.

We deserve an asteroid pic.twitter.com/dP6PnoI5Z4

— CarDealershipGuy (@GuyDealership) August 27, 2022

We don't even know what the insurance premiums look like here. Lol

I own three cars. $0 monthly payments.

The kind of spending being subsidized by student loan forgiveness.

Is it just me or did those people seem just as proud of their high payments as the vehicle itself?

Holy ***** I guess I'm waaaaay out of touch. These people are absolute morons.

Every single one of those numbers is disgusting.

Dumb. A lot of my friends are in the same boat.

Class of 2012 and my wife has a paid off 2015 RAV4 and our only car payment is $520 for my 2020 Tundra CrewCab and the only reason I bought that is because my company gives me a $500 car allowance

One would hope not. To the best of my knowledge, the feds have no involvement in, and very little control of, the car financing industry. But wouldn't surprise my if that braying horse of a VP tossed that out there

Big Boy edition? They're bragging about this?

Wow

It looks like they all work in a car dealership? I don't know if having a new car is part of keeping up appearances but yikes.

Emotional Support Cobra said:

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It looks like they all work in a car dealership? I don't know if having a new car is part of keeping up appearances but yikes.

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They also all look really young.

The worst part is that it appears that all of those people are working at a car dealership. Talk about drinking the Koolaid.

What in the world?!

I have a 2021 Ranger that's paid for, and my wife drives a 2017 explorer we owe about $2k, note is $580/mo., And the only reason we didn't pay for it is because we took the 0% interest.

These people are fools.

POV: You've never had a car/truck payment above $400.

That gives me anxiety just hearing them say those amounts.

What's sad is most of these expensive vehicles are probably parked in some crappy apartment parking lot.

Watch for EV loan forgiveness.

The only way people will learn is by suffering the economic consequences of their decision. Exactly the opposite the government bailing the out.

That said, I don't think we have enough information to judge. We don't know the price of the cars or the length of the loans. Those are important factors.

That's a month and a half rent. Holy hell.

I used to be on a wakeboard Facebook group years ago and some of those guys were financing $120,000 boats and $70,000 trucks to pull them with. I imagine they just lived on the boats.

Heard about the repos out today as well, supposedly 300k orders for repos are out there. Maybe I'll soon be able to find a gently used suburban or expedition at a decent price soon.

One $279 payment with 3 years to go. And no it's not a balloon note.

Me and my wife's vehicles are paid off and 8 years old. All three of my teenagers have paid off vehicles that ranged in price from 3500 to 5000 that they paid for themselves. So we get to pocket my wife's $400/month car allowance.

Those amounts in the op are crazy and wealth killing.

We have TWO nice newer Lexus and our combined payment is less than the one payment those folks have. Wow.

aginlakeway said:

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We have TWO nice newer Lexus and our combined payment is less than the one payment those folks have. Wow.

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Sure you don't have a lease?

Becuase I have seen a lot of people who thought it was a sale. Not a lease.

FJB said:

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So given our brain dead administration is so into wealth distribution for the irresponsible, what's next for them? We know in other countries energy, food, and other staples have gone through the roof. Housing is showing signs of major weakness. Netflix and other luxuries are getting snipped.

What about cars? I hear repos are picking up. Watch this little clip and see how people have no financial clue in their body. Not a shred.

We deserve an asteroid pic.twitter.com/dP6PnoI5Z4

— CarDealershipGuy (@GuyDealership) August 27, 2022

We don't even know what the insurance premiums look like here. Lol

I own three cars. $0 monthly payments.

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A new Ford "Raptor" starts at about $90,000 for just a basic package.

aggiehawg said:

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aginlakeway said:

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We have TWO nice newer Lexus and our combined payment is less than the one payment those folks have. Wow.

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Sure you don't have a lease?

Becuase I have seen a lot of people who thought it was a sale. Not a lease.

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I am 100% sure. We have never leased a car. And we're in our 6th and 7th Lexus.

We have a 2020 ES and a 2018 RX. Combined payments are $1225. 0.9% APR helps a lot.

Paying that much for one car is insane. IMO. Especially at the age of those in that video.

APHIS AG said:

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FJB said:

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So given our brain dead administration is so into wealth distribution for the irresponsible, what's next for them? We know in other countries energy, food, and other staples have gone through the roof. Housing is showing signs of major weakness. Netflix and other luxuries are getting snipped.

What about cars? I hear repos are picking up. Watch this little clip and see how people have no financial clue in their body. Not a shred.

We deserve an asteroid pic.twitter.com/dP6PnoI5Z4

— CarDealershipGuy (@GuyDealership) August 27, 2022

We don't even know what the insurance premiums look like here. Lol

I own three cars. $0 monthly payments.

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A new Ford "Raptor" starts at about $90,000 for just a basic package.

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Insane. But maybe they make 300k and own 50% of their home!

Texker said:

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One $279 payment with 3 years to go. And no it's not a balloon note.

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Who the hell would put a balloon note on a car? I just assumed everyone amortized it out.

aginlakeway said:

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aggiehawg said:

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aginlakeway said:

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We have TWO nice newer Lexus and our combined payment is less than the one payment those folks have. Wow.

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Sure you don't have a lease?

Becuase I have seen a lot of people who thought it was a sale. Not a lease.

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I am 100% sure. We have never leased a car. And we're in our 6th and 7th Lexus.

We have a 2020 ES and a 2018 RX. Combined payments are $1225. 0.9% APR helps a lot.

Paying that much for one car is insane. IMO. Especially at the age of those in that video.

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Okay.

My Dad raised me to never buy anything on credit besides a house. I made the mistake of buying a car on credit, one time.

The company I ran had several leased vehicles, one of which I drove.

aggiehawg said:

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aginlakeway said:

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aggiehawg said:

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aginlakeway said:

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We have TWO nice newer Lexus and our combined payment is less than the one payment those folks have. Wow.

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Sure you don't have a lease?

Becuase I have seen a lot of people who thought it was a sale. Not a lease.

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I am 100% sure. We have never leased a car. And we're in our 6th and 7th Lexus.

We have a 2020 ES and a 2018 RX. Combined payments are $1225. 0.9% APR helps a lot.

Paying that much for one car is insane. IMO. Especially at the age of those in that video.

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Okay.

My Dad raised me to never buy anything on credit besides a house. I made the mistake of buying a car on credit, one time.

The company I ran had several leased vehicles, one of which I drove.

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We could have paid cash several times. But why pay cash if you're getting 0.9 APR on the note?

Back to the point of this thread ... a younger person with that big of a car payment? Speechlessly insane.

I've got a $650 payment on my wife's luxury car. What is wrong with these people? Carrying that kind of debt service on a vehicle?

I clearly do not make their kind of money. But, I have well over 2mm net worth.

Quote:

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But why pay cash if you're getting 0.9 APR on the note?

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Because depreciation the moment you drive it off of the lot is larger than that?