Hondo. said:

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An "auto" loan!?!

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hph6203 said:

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My guess is because they're a startup and just now significantly ramping their production. Lifetime they've made fewer than 100,000 vehicles and don't have the parts inventory to promptly repair their cars and build new ones so the repair costs are through the roof.

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CDUB98 said:

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hph6203 said:

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My guess is because they're a startup and just now significantly ramping their production. Lifetime they've made fewer than 100,000 vehicles and don't have the parts inventory to promptly repair their cars and build new ones so the repair costs are through the roof.

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Blue parachute for you. This is a strong case. Where I pause is that Lucid should be on the list for the same reasons.

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Agthatbuilds said:

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CDUB98 said:

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hph6203 said:

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My guess is because they're a startup and just now significantly ramping their production. Lifetime they've made fewer than 100,000 vehicles and don't have the parts inventory to promptly repair their cars and build new ones so the repair costs are through the roof.

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Blue parachute for you. This is a strong case. Where I pause is that Lucid should be on the list for the same reasons.

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Was it a rivian or Ford lightning that had a small fender bender then the repair cost came out out to like 40k

It was rivian.

https://www.thedrive.com/news/rivian-r1t-fender-bender-turns-into-42000-repair-bill

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Signel said:

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Resale on EV's has been tanking. If you were about to front money for someone, would you do it if the value went through the floor, and the buyer walked away from the purchase?

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Ghost of Andrew Eaton said:

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The other day I was getting pre-approved for an auto loan from my local credit union. The loan agent went through all the requirements and exclusions and one of them was that they wouldn't finance a Rivian truck. They didn't mention any other EVs, just Rivian. At the time I was focused on other stuff, so I didn't think anything about it.

Does anyone know why they would exclude this particular EV?

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Hondo. said:

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An "auto" loan!?!

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Hondo. said:

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An "auto" loan!?!

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hph6203 said:

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I hope Rivian makes it. At the very least they make some compelling looking vehicles.

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Science Denier said:

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Hondo. said:

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An "auto" loan!?!

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I've borrowed money for every car I've ever bought. Been a while since my last one (2018) but there has never been a time I couldn't get a better return on the money than the car loan.

The infinity was 0.9%. That's free money. I saw an ad for Hyundai for 1.9%. Hell, CDs are paying over 5% right now.

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Hondo. said:

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Science Denier said:

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Hondo. said:

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An "auto" loan!?!

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I've borrowed money for every car I've ever bought. Been a while since my last one (2018) but there has never been a time I couldn't get a better return on the money than the car loan.

The infinity was 0.9%. That's free money. I saw an ad for Hyundai for 1.9%. Hell, CDs are paying over 5% right now.

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If you can make it profitable and work, great! For me, I prefer to just stay away..
Some dealerships discovered they can make just as much $$ if not more with their finance department as they can with the sale of the auto. Lo and behold, buyers can't afford the car, but they can afford the monthly payment.. as it is stretched across 4..5.. 7 years or so. Level of financial illiteracy is simply insane.

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Ghost of Andrew Eaton said:

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The other day I was getting pre-approved for an auto loan from my local credit union. The loan agent went through all the requirements and exclusions and one of them was that they wouldn't finance a Rivian truck. They didn't mention any other EVs, just Rivian. At the time I was focused on other stuff, so I didn't think anything about it.

Does anyone know why they would exclude this particular EV?

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Hondo. said:

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Science Denier said:

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Hondo. said:

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An "auto" loan!?!

---

I've borrowed money for every car I've ever bought. Been a while since my last one (2018) but there has never been a time I couldn't get a better return on the money than the car loan.

The infinity was 0.9%. That's free money. I saw an ad for Hyundai for 1.9%. Hell, CDs are paying over 5% right now.

---

If you can make it profitable and work, great! For me, I prefer to just stay away..
Some dealerships discovered they can make just as much $$ if not more with their finance department as they can with the sale of the auto. Lo and behold, buyers can't afford the car, but they can afford the monthly payment.. as it is stretched across 4..5.. 7 years or so. Level of financial illiteracy is simply insane.

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JamesPShelley said:

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Hondo. said:

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Science Denier said:

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Hondo. said:

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An "auto" loan!?!

---

I've borrowed money for every car I've ever bought. Been a while since my last one (2018) but there has never been a time I couldn't get a better return on the money than the car loan.

The infinity was 0.9%. That's free money. I saw an ad for Hyundai for 1.9%. Hell, CDs are paying over 5% right now.

---

If you can make it profitable and work, great! For me, I prefer to just stay away..
Some dealerships discovered they can make just as much $$ if not more with their finance department as they can with the sale of the auto. Lo and behold, buyers can't afford the car, but they can afford the monthly payment.. as it is stretched across 4..5.. 7 years or so. Level of financial illiteracy is simply insane.

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My wife and I just took out a 6 year loan. We keep our **** for a while.

The financial idiots (dumbasses in oldspeak) are the ones who buy a new ride and then trade it in two years later, lol.

Those are the true financial idiots.

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hoosier-daddy said:

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Rode in one a couple weeks ago. Pretty damn cool truck

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hph6203 said:

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I hope Rivian makes it. At the very least they make some compelling looking vehicles.

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YouBet said:

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JamesPShelley said:

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Hondo. said:

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Science Denier said:

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Hondo. said:

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An "auto" loan!?!

---

I've borrowed money for every car I've ever bought. Been a while since my last one (2018) but there has never been a time I couldn't get a better return on the money than the car loan.

The infinity was 0.9%. That's free money. I saw an ad for Hyundai for 1.9%. Hell, CDs are paying over 5% right now.

---

If you can make it profitable and work, great! For me, I prefer to just stay away..
Some dealerships discovered they can make just as much $$ if not more with their finance department as they can with the sale of the auto. Lo and behold, buyers can't afford the car, but they can afford the monthly payment.. as it is stretched across 4..5.. 7 years or so. Level of financial illiteracy is simply insane.

---

My wife and I just took out a 6 year loan. We keep our **** for a while.

The financial idiots (dumbasses in oldspeak) are the ones who buy a new ride and then trade it in two years later, lol.

Those are the true financial idiots.

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6 years!? If you have the cash and at current interest rates, you should be doing half that length of a loan at least. (I'm assuming rates are still high right now; I haven't looked). Or pay it off early if length of loan was dependent on better rate assuming no pre-payment or payoff penalty.

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BigRobSA said:

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YouBet said:

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JamesPShelley said:

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Hondo. said:

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Science Denier said:

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Hondo. said:

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An "auto" loan!?!

---

I've borrowed money for every car I've ever bought. Been a while since my last one (2018) but there has never been a time I couldn't get a better return on the money than the car loan.

The infinity was 0.9%. That's free money. I saw an ad for Hyundai for 1.9%. Hell, CDs are paying over 5% right now.

---

If you can make it profitable and work, great! For me, I prefer to just stay away..
Some dealerships discovered they can make just as much $$ if not more with their finance department as they can with the sale of the auto. Lo and behold, buyers can't afford the car, but they can afford the monthly payment.. as it is stretched across 4..5.. 7 years or so. Level of financial illiteracy is simply insane.

---

My wife and I just took out a 6 year loan. We keep our **** for a while.

The financial idiots (dumbasses in oldspeak) are the ones who buy a new ride and then trade it in two years later, lol.

Those are the true financial idiots.

---

6 years!? If you have the cash and at current interest rates, you should be doing half that length of a loan at least. (I'm assuming rates are still high right now; I haven't looked). Or pay it off early if length of loan was dependent on better rate assuming no pre-payment or payoff penalty.

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Why not just put it on your black card, Jay-Z!?

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YouBet said:

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BigRobSA said:

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YouBet said:

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JamesPShelley said:

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Hondo. said:

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Science Denier said:

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Hondo. said:

---

An "auto" loan!?!

---

I've borrowed money for every car I've ever bought. Been a while since my last one (2018) but there has never been a time I couldn't get a better return on the money than the car loan.

The infinity was 0.9%. That's free money. I saw an ad for Hyundai for 1.9%. Hell, CDs are paying over 5% right now.

---

If you can make it profitable and work, great! For me, I prefer to just stay away..
Some dealerships discovered they can make just as much $$ if not more with their finance department as they can with the sale of the auto. Lo and behold, buyers can't afford the car, but they can afford the monthly payment.. as it is stretched across 4..5.. 7 years or so. Level of financial illiteracy is simply insane.

---

My wife and I just took out a 6 year loan. We keep our **** for a while.

The financial idiots (dumbasses in oldspeak) are the ones who buy a new ride and then trade it in two years later, lol.

Those are the true financial idiots.

---

6 years!? If you have the cash and at current interest rates, you should be doing half that length of a loan at least. (I'm assuming rates are still high right now; I haven't looked). Or pay it off early if length of loan was dependent on better rate assuming no pre-payment or payoff penalty.

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Why not just put it on your black card, Jay-Z!?

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I buy my rides with loose diamonds.

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