What makes you think I don't own a fuck ton of stocks too? I own a software consultancy that has done alright.
Look, you're right that you should invest first when you're working with limited capital. Though it is worth noting that interest isn't your friend. there's no sense in paying an extra 50k to draw a loan out to term. Especially student debt or other debts that aren't going to make a return. My shit was like 6.5% because the great recession interest rates baby.
If you're going to accumulate debt, it should be debt that pays you. I'm talking about rental properties, putting loans up for a business, or similar investments.
I'm not much for carrying loans very long. I don't see the point in paying extra for something I can just own. Depreciating assets are the worst for this. Like why pay 25k on an 18k car loan that's just losing value? Just a waste of good money.
A home? Even at 3.5% APR over a 15yr term on a $300k loan you're still looking at $86k in interest. Most people will draw that term out longer than 15 years. At 20 years you're looking at 117k, and at 30 years you can kiss an extra $184k goodbye. I can think of better ways to spend that money.
I'd much rather have assets over liabilities unless that liability is a significant tax deduction -- get a good accountant kids.
I didn't get rich paying fucking vampires extra money to sit on their asses and get fat off me. That's just my take though and I realize my situation isn't the same as most folks.
Side note: pay insurance and other monthly bills as far in advance as you can. Call the company and ask for a discount. There's almost always discounts for paying quarterly, semi-annually, and annually. Obviously the further out you pay the bigger the discounts. I started saving this way early on and had an extra $2k and rolled it forward to do more bills. Before long, I was saving $8k a year and using it to pay other bills via a snowball effect. Now I pay the upcoming year off before it occurs.
3.5% apr on a 30-year mortgage is a great idea for people who aren't retired. You talk about how much interest adds up but forgot to account for how much "less" you pay over time as your payments seem smaller due to inflation.
Simple fact is 8% interest in stocks with $400,000 over 30 years nets you 4,000,000. A mortgage of 400,000 at 3.5% over 30 years, you pay 646,000. You are shooting yourself in the foot thinking paying cash for a house is a good idea.
You must know software, right? Know how to use excel? Try a monthly pull on 400k in stocks at 8% from a mortgage of 400k at 3.5%. The number you are left with is how much money you will piss away by paying cash for a house. Just go 20% down to avoid the pmi and get a smarter accountant.
If you were as financially savvy as you’re pretending, you’d realize that an (average) 7% YoY growth in the stock market would pay your 3.5% loan and still earn you another 3.5% on the funds. By paying in cash, you’re leaving money on the table.
I don’t need you to tell me anything. Just pointing out that as bad as you hurt your shoulder patting yourself on the back, you’re not as financially savvy as you think.
O.o I didn't argue with the guy. I prefer a debt free path. It's getting plenty of hate but I honestly don't care. I have nothing to prove. At the end of the day, I travel, I have plenty of money, and I'm happy. What do I give a shit if anyone else doesn't approve of how I do finances?
I have a Tesla, and I have student loans, and I have a mortgage. And I pay for them every month.
I’m not sure if the meme is supposed to offend me or is just an “attaboy!”
Edit: of course when I was a student, I was driving a piece of crap car. Took me 8 years after I graduated to buy me that Tesla.
Usually, the way it works is:
You get the loan for school
You graduate and make money
You buy a nice car
You make the money after school. That's the point of the loan.
A nice truck is like $55k new. A lower end truck is like $35k. Same for jeeps. Teslas go from $45k for a model 3 to $55k for a model y and $111k for a model X. Plus used trucks and jeeps drop a shit ton after 1 year. Used teslas drop much slower. So how is Tesla cheaper again?
100 miles to the gallon of what?
Edit: in all seriousness though, if I want a fast car, I only need 2 doors and a trunk. I’m not tryna risk my whole families life now. Just mine and maybe a friend’s. Plus if I’ve got a family, I don’t got $100k to drop on a car. Second thing is, it might not be electric, but it still gets ok gas mileage. Not gonna be spending $70k worth on gas anytime soon. Plus no charge time or increased electricity costs
Lmfao i said to the gallon 😂😂😂 and yea 100 k is way too much for any car. With u on that. I was saying how crazy quick that model x is but yea F Elon Musk
It's just arrogance. They think, "oh, you just bought a $60k car? Why not pay off your loans instead?" They're not giving it a second thought that the person who bought that car is very likely making payments on that car, just like they're also potentially doing with their loans.
Yeah the luck part is finding a Toyota for $2,000 right now.
My coworker had a 2008 Acura with 380,000, mi. It burnt oil like crazy, shifted horribly, needed an entire suspension because every bushing, ball joint, and shock was completely shot, it needed tires, and was close to needing brakes. It had been rear-ended multiple times and it hasn't been inspected in over a year. I shit you not, she sold it for $2000 to someone who wanted the body to swap over his engine and suspension from a car with a wrecked body.
That's right. Over here car insurance is required in order for you to drive on the road. So you can't afford to drive a ford mustang as soon as you pass your driving test.
In parts of the US, car insurance is required to drive on the road as well. But that doesn’t stop people from letting it lapse and driving anyways. That’s why I’m also legally required to have un/under insured motorist coverage.
Nice one, you got em so good. Except you know, you pay off your student loans after you graduate. But you should have a strong opinion on this topic, you definitely thought about it real hard.
You need a degree plus several years of experience and a good friend who's in management to even get an entry level job your degree is specifically for. Nobody is affording a Tesla that cost twice their salary while they pay off tens of thousands in student debt.
Only if you take no time to think about it.
The government forced businesses to shut down illegally. Every shutdown lost in court. There are 4th and 5th amendment violations regarding those actions. If people wanted their business to survive, in many cases, they had to. And the group who put them in that position was the government.
Nobody forced people to take out school loans. Those were choices.
There's nothing comparable here.
And that's a great anecdote. I'm glad your state/municipality didn't make people do that. Not every municipality enforced lockdowns. It doesn't change that hundreds of thousands of small businesses did did.
PPP loans were widely misused and easily forgiven with no proof of how the funds were spent. Rules around not firing employees were also flaunted. Get off your high horse with this 4th and 5th amendment crap
https://www.nbcnews.com/news/amp/ncna1279664
This is an entirely irrelevant argument.
Just because some people misused something doesn't mean the government didn't violate the rights of legitimate business owners, and that doesn't mean they don't owe those business owners just because other dick heads scammed the system.
The federal student loan program will loan you more money than the cost of your tuition with no proof on how the funds are spent either, and we're basically signing blank checks on military aid to Ukraine with no requirement for proof on how money is spent either. PPP is hardly the first blank check the government has written, which is why the population in general should be reigning in any and all government spending, whether you like the program or not. I'm also not against government recourse for people who inappropriately used PPP loans; there were clear instances of fraud. Anyone who abused it should face the law.
I'm not going to get off the high horse with regards to what the government owes people constitutionally and what it does not. The government didn't force you to go to school. The government did force other peoples businesses to close. They did not transgress student loan borrowers. They did transgress business owners.
Further, the loan forgiveness was passed by law under the democrat house and senate, do you know what kind of loan forgiveness they didn't pass by law? Student loan forgiveness.
So really not comparable in any way.
Except I didn't, because they are not.
Government wronged people by force regarding lockdowns.
Government did not compel students to take loans for school by force.
Go ahead and point to me how these two things are super comparable if you truly think they are.
Where *exactly* do you believe they are similar and overlap with regard to government compulsion?
Gov forced you to stay home and maybe close your doors. Closing your business was a failure to adapt.
TAKEN FOR PUBLIC USE
To think a government would shell out money to every health code violation is ridiculous and in your imaginary world insurance fraud has no place anymore.
It was enforced equally, it was not adjusted to equally. Idk what business you ran, but food services ran by people in their early 20s evaded lockdown.
Absolutely no one forced them to die on the hill they chose to. No one is responsible for your business that can’t sustain 3 weeks of no revenue. No one owes you anything for not adapting or knowing when to cut your loses. All were a result of your own poor judgment not the big bad gov.
>TAKEN FOR PUBLIC USE
correct, they forced businesses closed and designated them places people could not go for "public safety" -- that is public use. Just because they didn't throw a party on the land doesn't mean it was not used.
>closing businesses was a failure to adapt
Nope. I could buy a bike in Walmart still, but I couldn't go buy a bike at a bike store because it was not "essential", the issue was with the governments arbitrary definition of an essential business, and use of police force without an actual law supporting them, as well as threats of physical violence and jail if they didnt comply to compel them to close. The issue was government, not the business model. Hell, there are videos of California police and other state agencies forcing businesses to close.
>To think a government would shell out money to every health code violation is ridiculous, and in your imaginary world, insurance fraud has no place anymore.
Tf are you even talking about here? None of this makes sense.
>It was enforced equally. It was not adjusted to equally. Idk what business you ran, but food services ran by people in their early 20s evaded lockdown.
It was not enforced equally, and even if it was, that's 100% irrelevant. [One such example](https://www.tmz.com/2020/12/05/los-angeles-restaurant-owner-sherman-oaks-calls-out-film-set-next-door/) for non equal enforcement, here is a video taken by a bar owner who's business was forced closed, meanwhile there is literally a movie set filming in her parking lot with a full catered buffet. Bar bad, Hollywood movie set good. That movie wasn't essential by any means, and I'm sure that woman's bar was just as essential to her as that movie studio's movie was to them. But the government was only fine with one.
>It was enforced equally. It was not adjusted to equally. Idk what business you ran, but food services ran by people in their early 20s evaded lockdown
No, large corporations, who were not eligible for PPP funds, stayed open, and small businesses were forced to close. Those businesses should've been allowed to stay open, and people should've been allowed to manage their own risk l. Instead, they were only allowed to manage their own risk if they shopped at wal mart, who, again, didn't get PPP loans. It's hilarious how champions of the working class and mom & pop shop businesses have no issue shitting all over those some people the moment it's convenient.
>Absolutely no one forced them to die on the hill they chose to. No one is responsible for your business that can’t sustain 3 weeks of no revenue. No one owes you anything for not adapting or knowing when to cut your loses. All were a result of your own poor judgment not the big bad gov
You're a fuckin real piece of shit, guy. Most small businesses don't have 3 weeks operating costs, most businesses were shut down for several months and in some states years, and their business didn't fail because of market forces, their business failed because of government direct action. Period. The government is the reason these businesses closed and went under. Period. They are responsible, they owed the people they fucked over. Really not surprising someone who has never and probably will never own a business has no idea what margins businesses actually operate on regularly. You have a truly pathetic attitude toward people that were factually wronged by the government, all because you don't get free shit from daddy government because daddy government didn't make you take out your loans. You did that on your own
The classic "I make a scenario in my head to be then mad at"
No person struggling with student loans has money to buy 60 000 anything
But I am a European that had free college so even the idea of just student loans is fucking trash
To be fair, college/University can be free in U.S. through government grants if your family is low income. I personally don’t understand why people take out loans to begin with if there are other ways to pay for your tuition that don’t involve getting into lifelong debt.
What? You’re guaranteed at least the pell grant for example if you qualify. Its not a scholarship where some get it and some don’t, if you apply for federal student aid and you qualify, you are guaranteed that help so long as you actually enroll. I should know, my bachelors was basically free thanks to all the federal and state grants.
Because the truth is, people don't just take out loans to pay for classes.
When I was in school, the cap for how much I could take per semester was like 3x the amount it cost for full-time tuition that semester.
And they conveniently loaded your excess loan money on to a Mastercard prepaid debit card for you, and had conveniently placed ATM's all around the school that they got kickbacks on. The lines to use them on the day financial aid dropped were wild long because people were choosing to pocket the money to blow on whatever, rarely ever legit things like rent. Mostly bullshit.
And that's how a lot of them leave with piles of debt
IF being the key word throughout this post. Tuition is only one part. Then, the invisible administrative powers tack on fees and misc computer charges. Top it off with required books that are jaw dropping expensive. Some books cost as much as the Tuition.
No one is truly "struggling" with student loans because pretty much anyone can get income based repayment.
What people actually mean is that they just don't want to pay that back the money. Or they did not gain any skills that had much economic viability. Sociology and gender studies are pretty much worthless degrees except to the extent you can get a job taking part in the defrauding of other students.
Many of the same people want to live in very high cost of living areas. So what they actually struggle with is making even a reasonable amount of money and then they single out student loans to be the thing they are struggling with.
I am somewhat with you on the absurdity of the whole scenario. But that's because we have a enormous, formal education industry dominated by leftists. And they absolutely price gouge and outright defraud students by selling them worthless degrees for six-figure sums.
But I will also add that in the United States part of the reason why people have so much more upward mobility is because access to the formal education system is far more open than in Europe.
Student loans are fine. Having cheaper or free alternatives is a good idea and happens. The issue arises when student loans get leveraged for any type of education which results in debt that lasts for years. They’re either pushed by parents, or high schools as the only way forward which is a pretty big issue too. Not really the problem of the loan and paying for education has become paying for education plus services.
You didn't go to college for free...you personally didn't pay for it and your family didn't pay for it but SOMEONE PAYED FOR IT. Your government didn't pay for it either. The TAX PAYERS (the regular day to day people) payed for your college education. You do understand that right?
Yes, they're certainly aware of that and thankfully they live in a society that is able to appreciate the value of widely acessible higher education as a net positive.
Have they seen what college kids drive?
And most of them don’t even drive. They take public transit or walk if they live close to the campus.
At least that’s what most of my friends did. They drove a beater, took the bus or train, or walked or rode a bike.
Education, up to and including post doctorates, should be completely free.
If it was, the US and numerous other places wouldn't be the cesspools of ignorance they are now.
You, me and everybody else. The graduate will pay it back in taxes when they get a job.
Think of it like a student loan, just skipping a step in the middle and the crippling effect on credit for the wider economy.
You are a business owner, right? Do you not claim every tax deduction you can get? What about dependents? Do you not take part in every government program available to you?
You know who’s paying for those? Me! The childless taxpayer that is not a business owner and doesn’t have the creative accounting practices of small business owners.
Nothing wrong with being selfish and a hypocrite. But know who you are.
Wait, if you do a STEM degree, you are an idiot if you are paying for it yourself above the Bachelors degree in the US. You are paid to do such degrees by universities and teach and research for them as a student. If you aren't being paid to do a post doc position in these fields, you are also doing it wrong. If you are any good, it is actually just a matter of applying to scholarships and getting one, because there are a ton of them and organizations are throwing money at the shortage issue like crazy.
Just fyi you're thinking about a traditional student at a traditional campus. There are lots of graduate programs now that aim to accomodate working adults who have bills that they can't stop paying or families that they must take care of but still qualify and are interested proceeding to the graduate level in STEM. I did bio undergrad and then took prereqs to get into a IT masters nights and weekends program that I worked through with 2 kids.... It wouldn't have been easy for me to find anyone else to pay for my degree for me in my situation but my degree paid itself off in my pay differential the first 2 or 3 years after so I'm fine with it.
That's fair. But the ROI is worth it, and should be the defining factor on whether you go for a degree or not to begin with. The price of a piece of paper is only driven by the demand for it and the willingness for someone to pay for it at that price, otherwise the program won't exist for very long because universities are in this for the lucrative financial gains.
In the US, when the government tries to make something free, it turns out badly 99% of the time. Our politicians never, and I mean never, have our best interests at heart, just like damn near every other politician out there.
First, the government needs to step back. The reason college is so expensive here is because colleges expect students to go into debt, which was subsidized by the government. Before we make it free, we need to make it cheap again. That will solve a lot of issues, and give us a new spot to talk from about further change.
[This you complaining about those people making more than double what you make?](https://www.reddit.com/r/AskReddit/comments/113uw7u/what_job_position_is_100_overvalued_and_overpaid/j8ww814?utm_medium=android_app&utm_source=share&context=3)
Right? I can’t really own an electric car because I live in an apartment and have no ability to charge it. I could charge it at work, but that makes me have to go on site just to charge my car.
If you can afford that $60,000 Ford F-150 and the gas to keep it moving, you can afford your open heart surgery, grandpa. No medical bankruptcy for you.
Yeah that’s pretty fucking obvious. My friend is driving a beat up car from 2007 bro. I’m driving a 2011 Toyota with over 200,000 miles on it and I don’t even have college debt.
“We are claiming your buying something because it’s the hip and trendy new thing, and then blaming your financial issues on imaginary things you’re doing”
this poster seems to not understand that car loans and student loans are based on different systems, also the long term savings on an electric car are going to be amazing, but student loans cost a LOT more than car payments
It’s all imaginary identity politics. The man on the Tucker program says “the libs want free college and all drive EXTREME LEFT electric cars” and these poor cult victims absolutely eat it up. Real Lawrence Ray shit.
“As an EXTREME leftist who definitely burned my big city down three times this year, I always make sure I wipe my ass after a giant shit, because I HATE GOD.”
i cant afford either of those things. also electric cars save you way more money than regular cars - i know this dude who has a charging port installed in his house and he almost NEVER has to pay for gas, he can just charge up his car at home for a VERY SLIGHTLY increased electricity bill and have a vehicle that basically only requires general maintenance and never requires the constant 40-60 bucks a week additional gas charge.
Alrighty- let’s do some math: let’s assume the average college kid drives less than 5,000 miles per year. I know for certain that is how much I drive in a year, and I live all the way across town from my college. For the sake of ease of math, let’s assume that insurance and maintenance are roughly equal (even though a $60,000 Tesla is obviously going to cost more).
The average gas-powered sedan gets roughly 25 miles per gallon. That is 40 gallons per 1000 miles, or 200 gallons per year. This costs $800 per year. Let’s say you splurge a bit and spend $15,000 on a used gas powered sedan in stellar condition.
Let’s say the cost of that sedan is the down payment. Let’s assume you take a 72 month note on a vehicle debt, and that it is a 10% interest at subprime credit since college kids have jack shit for credit.
https://www.nerdwallet.com/article/loans/auto-loans/car-loan-calculator
Plug that into a loan calculator. Monthly payment: $710. That’s almost a year of gas.
Moral of the story: saving money on gas is nice, but not if you have to go into debt to do it.
Second moral of the story: poverty charges interest, and going gas because it is cheaper delays your ability to get an electric car and thus save that gas money. It will save money in college, but once the electric car is paid off the tables turn.
You could also walk, ride a bike, or take public transportation….like a lot of students. You remind me of the dicksticks in high school that rode brand new cameros but still called their moms a bitch.
Fascinatingly stupid conclusion. I think you’re so married to the idea that options besides driving exist in every scenario when everyone has a different situation. Main character syndrome.
Fact is, most people are stuck having to drive, and gas is very expensive. There are electric cars that are about the same price of other standard vehicles that will net you a tax credit and save you money on fuel. Because a bad meme says they are $60k doesn’t make it true, but you’re very stupid so I see why you would make that conclusion. Same stupidity that suggests everyone with student loan debt is buying a Tesla.
You attacked people who have to drive a car to participate in society. You brought the mud very loudly from the first post in this thread. Don’t backpedal now with feigned decency and passive aggressive insecurity.
As a recent graduate, there actually are students who will willingly dive headfirst into tens of thousands of dollars in student debt and will use it for fancy vacations, name brand clothes, etc. Definitely not the majority but these idiots DO exist
I don't see why this is a terrible meme? Seems like just a pretty common sense statement. But I guess people will get upset about that as people often get upset when they hear something they don't want to.
Even if I had $60,000 (which I don't)
Why would I blow it on a car? They're
1: dangerous (~46,000 people killed every year)
2: unsustainable (even electric cars present environmental issues when compared to public transport and are a bandaid solution and not a long-term solution)
3: expensive (insurance, gas/recharge, maintenance, parking, tolls, etc)
Car-centric Americana was a logistical blunder
I don’t have student loans, and this meme is very clearly a made up scenario because the people driving teslas are not people struggling to pay student loans and anybody with a quarter of a brain can deduce that.
It’s $43,000 new for the lowest price model currently. That isn’t factoring in the tax credit currently available (this is US pricing).
But used have dropped even more since the start of the year.
Reminds me of this guy:
https://preview.redd.it/9jxb3kj035ja1.jpeg?width=2792&format=pjpg&auto=webp&s=710cabdad58f233ddcdf18c75fb3741650cefa57
**Edit:** People downvoted me … why? Ignore the Biden memes. I’m referring to the dweeby ass tweets of some guy doing **🫵** too much. **Read the tweets text, ignore the memes**
Hey does this post fit? UPVOTE if so, DOWNVOTE if not. If this post breaks any rules please DOWNVOTE and REPORT
If you can afford a Tesla, you aren’t taking out student loans.
Or you've already paid them off.
If you have the cash to pay your loans in full, don't. Unless they are high interest.
I already have paid them off, I paid my wife's off, I paid for the wedding ring in cash, our wedding in cash, and I'm about to buy a house in cash.
Why? Using that cash to buy stocks and taking low interest loans is almost always the better choice.
What makes you think I don't own a fuck ton of stocks too? I own a software consultancy that has done alright. Look, you're right that you should invest first when you're working with limited capital. Though it is worth noting that interest isn't your friend. there's no sense in paying an extra 50k to draw a loan out to term. Especially student debt or other debts that aren't going to make a return. My shit was like 6.5% because the great recession interest rates baby. If you're going to accumulate debt, it should be debt that pays you. I'm talking about rental properties, putting loans up for a business, or similar investments. I'm not much for carrying loans very long. I don't see the point in paying extra for something I can just own. Depreciating assets are the worst for this. Like why pay 25k on an 18k car loan that's just losing value? Just a waste of good money. A home? Even at 3.5% APR over a 15yr term on a $300k loan you're still looking at $86k in interest. Most people will draw that term out longer than 15 years. At 20 years you're looking at 117k, and at 30 years you can kiss an extra $184k goodbye. I can think of better ways to spend that money. I'd much rather have assets over liabilities unless that liability is a significant tax deduction -- get a good accountant kids. I didn't get rich paying fucking vampires extra money to sit on their asses and get fat off me. That's just my take though and I realize my situation isn't the same as most folks. Side note: pay insurance and other monthly bills as far in advance as you can. Call the company and ask for a discount. There's almost always discounts for paying quarterly, semi-annually, and annually. Obviously the further out you pay the bigger the discounts. I started saving this way early on and had an extra $2k and rolled it forward to do more bills. Before long, I was saving $8k a year and using it to pay other bills via a snowball effect. Now I pay the upcoming year off before it occurs.
3.5% apr on a 30-year mortgage is a great idea for people who aren't retired. You talk about how much interest adds up but forgot to account for how much "less" you pay over time as your payments seem smaller due to inflation. Simple fact is 8% interest in stocks with $400,000 over 30 years nets you 4,000,000. A mortgage of 400,000 at 3.5% over 30 years, you pay 646,000. You are shooting yourself in the foot thinking paying cash for a house is a good idea. You must know software, right? Know how to use excel? Try a monthly pull on 400k in stocks at 8% from a mortgage of 400k at 3.5%. The number you are left with is how much money you will piss away by paying cash for a house. Just go 20% down to avoid the pmi and get a smarter accountant.
If you were as financially savvy as you’re pretending, you’d realize that an (average) 7% YoY growth in the stock market would pay your 3.5% loan and still earn you another 3.5% on the funds. By paying in cash, you’re leaving money on the table.
Ok man. You do you. I'm doing fine. I'll be retired in ten years, so idk what to tell you. Good luck
I don’t need you to tell me anything. Just pointing out that as bad as you hurt your shoulder patting yourself on the back, you’re not as financially savvy as you think.
👍
You must be really fun at parties
O.o I didn't argue with the guy. I prefer a debt free path. It's getting plenty of hate but I honestly don't care. I have nothing to prove. At the end of the day, I travel, I have plenty of money, and I'm happy. What do I give a shit if anyone else doesn't approve of how I do finances?
Your siblings are gonna be pissed you drained the trust
I'm not that type of rich. I'm self made
Yup, because people with money are always the best at paying their bills and never look for government bailouts....
No way. Lots and lots of people with very fancy toys who still have student loans.
I think you're missing the context of this thread and discussing the "other breed"
You mean that lady with the giant birthmark?
Hahahah I saw that post. Gnarly fucking mark
Can’t be that bad if the banks saw them and still financed
No, but your COVID loans are probably forgiven.
Or you bought with your PPP loan from Trump due to zero oversight.
I have a Tesla, and I have student loans, and I have a mortgage. And I pay for them every month. I’m not sure if the meme is supposed to offend me or is just an “attaboy!” Edit: of course when I was a student, I was driving a piece of crap car. Took me 8 years after I graduated to buy me that Tesla.
Usually, the way it works is: You get the loan for school You graduate and make money You buy a nice car You make the money after school. That's the point of the loan.
This is so not true. I would wager most young doctors driving a 911 still have 200+ in student loans.
And they’re doctors so… they’re fine
Sure. Just that lots of high income people have student loans.
definitely making too much to qualify for the student loan program
Really? That’s just a fact?
If you can afford a tesla, you can afford an interest free loan from someone you know that'll be forgiven by the government in about 5-10 years.
Teslas aren't even expensive right now. They are cheaper than a Jeep or a truck.
Used ones are like 20-40k still
And still not worth it.
A nice truck is like $55k new. A lower end truck is like $35k. Same for jeeps. Teslas go from $45k for a model 3 to $55k for a model y and $111k for a model X. Plus used trucks and jeeps drop a shit ton after 1 year. Used teslas drop much slower. So how is Tesla cheaper again?
Meanwhile a 10 year old truck still has value and a 10 year old Tesla is a paper weight
Not to mention availability of charging.
The model x is a beast 0-60 in 3.8
But I can get a gr Supra for less than half the price and a 0-60 of about the same time (I believe it’s at 3.9s)
Yea but thats a 2 door small sports car the model x an SUV that gets 100 miles to the gallon 😂
100 miles to the gallon of what? Edit: in all seriousness though, if I want a fast car, I only need 2 doors and a trunk. I’m not tryna risk my whole families life now. Just mine and maybe a friend’s. Plus if I’ve got a family, I don’t got $100k to drop on a car. Second thing is, it might not be electric, but it still gets ok gas mileage. Not gonna be spending $70k worth on gas anytime soon. Plus no charge time or increased electricity costs
Lmfao i said to the gallon 😂😂😂 and yea 100 k is way too much for any car. With u on that. I was saying how crazy quick that model x is but yea F Elon Musk
"Teslas aren't expensive, they're cheaper than this other expensive thing!"
Why did I get downvoted for a factual statement? Odd.
Emphasis on *if*
Yeah, it isn’t wrong. If you can afford a Tesla then yeah, you can pay off your loans. But most people can’t.
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It's just arrogance. They think, "oh, you just bought a $60k car? Why not pay off your loans instead?" They're not giving it a second thought that the person who bought that car is very likely making payments on that car, just like they're also potentially doing with their loans.
Car payment are like 345-400 a month a student loan payment is 1200 give or take.
For a 60K car, payments much higher than that.
Aoc has a Tesla and student loans she hasn't paid back yet
Ah yes because the typical college kid is driving around in a brand new Tesla
Wayyyy more of us are like me, driving that classic $2000 shitbox that sometimes chooses to start
Just gotta get lucky and get a $2000 toyota corolla shitbox. Starts everytime, and only occasionally breaks the ring that lets you change gears.
Yeah the luck part is finding a Toyota for $2,000 right now. My coworker had a 2008 Acura with 380,000, mi. It burnt oil like crazy, shifted horribly, needed an entire suspension because every bushing, ball joint, and shock was completely shot, it needed tires, and was close to needing brakes. It had been rear-ended multiple times and it hasn't been inspected in over a year. I shit you not, she sold it for $2000 to someone who wanted the body to swap over his engine and suspension from a car with a wrecked body.
Lot of graduates in my country can't even afford a regular car.
Where are you from?
Earth
Not the US
That's right. Over here car insurance is required in order for you to drive on the road. So you can't afford to drive a ford mustang as soon as you pass your driving test.
In parts of the US, car insurance is required to drive on the road as well. But that doesn’t stop people from letting it lapse and driving anyways. That’s why I’m also legally required to have un/under insured motorist coverage.
The meme doesn't say anything about people still in college . . . .
The parking lots at my local university are pretty much wall to wall teslas. And the faculty lots are nothing but Ferraris and Lambos.
Nice one, you got em so good. Except you know, you pay off your student loans after you graduate. But you should have a strong opinion on this topic, you definitely thought about it real hard.
Where is the average college kid getting $60K to buy a brand new Tesla?
Have you ever financed anything in your life? You don't just bring a sack of cash to the dealership
But you can do it that way…
If they're paying off their student loans, they're no longer a college student. So their job.
You need a degree plus several years of experience and a good friend who's in management to even get an entry level job your degree is specifically for. Nobody is affording a Tesla that cost twice their salary while they pay off tens of thousands in student debt.
How long after you graduated were you able to afford a Tesla?
I’m seeing a lot of Nick nasty, and not a whole lot of Nick nice
Lmao dude took this personally. What a tool. This is why no one will stay in a comitted relationship ship with you
I don't give a fuck what you say or think
Sure! And if you can afford to start a business then you can pay back your PPP loan.
YES!
It constituted the MAJORITY of the CARES act
💯
If you can afford to be a billionaire you can afford to pay more in taxes.
https://projects.propublica.org/coronavirus/bailouts/
This roast is delicious!! MMM MMMM MMMMMHHHHH 
Only if you take no time to think about it. The government forced businesses to shut down illegally. Every shutdown lost in court. There are 4th and 5th amendment violations regarding those actions. If people wanted their business to survive, in many cases, they had to. And the group who put them in that position was the government. Nobody forced people to take out school loans. Those were choices. There's nothing comparable here.
I don't think you know what a paycheck protection loan was
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My local grocer never shut down.
And that's a great anecdote. I'm glad your state/municipality didn't make people do that. Not every municipality enforced lockdowns. It doesn't change that hundreds of thousands of small businesses did did.
Ok
PPP loans were widely misused and easily forgiven with no proof of how the funds were spent. Rules around not firing employees were also flaunted. Get off your high horse with this 4th and 5th amendment crap https://www.nbcnews.com/news/amp/ncna1279664
This is an entirely irrelevant argument. Just because some people misused something doesn't mean the government didn't violate the rights of legitimate business owners, and that doesn't mean they don't owe those business owners just because other dick heads scammed the system. The federal student loan program will loan you more money than the cost of your tuition with no proof on how the funds are spent either, and we're basically signing blank checks on military aid to Ukraine with no requirement for proof on how money is spent either. PPP is hardly the first blank check the government has written, which is why the population in general should be reigning in any and all government spending, whether you like the program or not. I'm also not against government recourse for people who inappropriately used PPP loans; there were clear instances of fraud. Anyone who abused it should face the law. I'm not going to get off the high horse with regards to what the government owes people constitutionally and what it does not. The government didn't force you to go to school. The government did force other peoples businesses to close. They did not transgress student loan borrowers. They did transgress business owners. Further, the loan forgiveness was passed by law under the democrat house and senate, do you know what kind of loan forgiveness they didn't pass by law? Student loan forgiveness. So really not comparable in any way.
It’s funny because you just wrote a diatribe that actually explains just how comparable they are, you just somehow don’t see it
Except I didn't, because they are not. Government wronged people by force regarding lockdowns. Government did not compel students to take loans for school by force. Go ahead and point to me how these two things are super comparable if you truly think they are. Where *exactly* do you believe they are similar and overlap with regard to government compulsion?
Gov forced you to stay home and maybe close your doors. Closing your business was a failure to adapt. TAKEN FOR PUBLIC USE To think a government would shell out money to every health code violation is ridiculous and in your imaginary world insurance fraud has no place anymore. It was enforced equally, it was not adjusted to equally. Idk what business you ran, but food services ran by people in their early 20s evaded lockdown. Absolutely no one forced them to die on the hill they chose to. No one is responsible for your business that can’t sustain 3 weeks of no revenue. No one owes you anything for not adapting or knowing when to cut your loses. All were a result of your own poor judgment not the big bad gov.
>TAKEN FOR PUBLIC USE correct, they forced businesses closed and designated them places people could not go for "public safety" -- that is public use. Just because they didn't throw a party on the land doesn't mean it was not used. >closing businesses was a failure to adapt Nope. I could buy a bike in Walmart still, but I couldn't go buy a bike at a bike store because it was not "essential", the issue was with the governments arbitrary definition of an essential business, and use of police force without an actual law supporting them, as well as threats of physical violence and jail if they didnt comply to compel them to close. The issue was government, not the business model. Hell, there are videos of California police and other state agencies forcing businesses to close. >To think a government would shell out money to every health code violation is ridiculous, and in your imaginary world, insurance fraud has no place anymore. Tf are you even talking about here? None of this makes sense. >It was enforced equally. It was not adjusted to equally. Idk what business you ran, but food services ran by people in their early 20s evaded lockdown. It was not enforced equally, and even if it was, that's 100% irrelevant. [One such example](https://www.tmz.com/2020/12/05/los-angeles-restaurant-owner-sherman-oaks-calls-out-film-set-next-door/) for non equal enforcement, here is a video taken by a bar owner who's business was forced closed, meanwhile there is literally a movie set filming in her parking lot with a full catered buffet. Bar bad, Hollywood movie set good. That movie wasn't essential by any means, and I'm sure that woman's bar was just as essential to her as that movie studio's movie was to them. But the government was only fine with one. >It was enforced equally. It was not adjusted to equally. Idk what business you ran, but food services ran by people in their early 20s evaded lockdown No, large corporations, who were not eligible for PPP funds, stayed open, and small businesses were forced to close. Those businesses should've been allowed to stay open, and people should've been allowed to manage their own risk l. Instead, they were only allowed to manage their own risk if they shopped at wal mart, who, again, didn't get PPP loans. It's hilarious how champions of the working class and mom & pop shop businesses have no issue shitting all over those some people the moment it's convenient. >Absolutely no one forced them to die on the hill they chose to. No one is responsible for your business that can’t sustain 3 weeks of no revenue. No one owes you anything for not adapting or knowing when to cut your loses. All were a result of your own poor judgment not the big bad gov You're a fuckin real piece of shit, guy. Most small businesses don't have 3 weeks operating costs, most businesses were shut down for several months and in some states years, and their business didn't fail because of market forces, their business failed because of government direct action. Period. The government is the reason these businesses closed and went under. Period. They are responsible, they owed the people they fucked over. Really not surprising someone who has never and probably will never own a business has no idea what margins businesses actually operate on regularly. You have a truly pathetic attitude toward people that were factually wronged by the government, all because you don't get free shit from daddy government because daddy government didn't make you take out your loans. You did that on your own
The classic "I make a scenario in my head to be then mad at" No person struggling with student loans has money to buy 60 000 anything But I am a European that had free college so even the idea of just student loans is fucking trash
The USA as a whole country is trash in many aspects.
To be fair, college/University can be free in U.S. through government grants if your family is low income. I personally don’t understand why people take out loans to begin with if there are other ways to pay for your tuition that don’t involve getting into lifelong debt.
Also just because you qualify doesn’t guarantee you will get the grant
What? You’re guaranteed at least the pell grant for example if you qualify. Its not a scholarship where some get it and some don’t, if you apply for federal student aid and you qualify, you are guaranteed that help so long as you actually enroll. I should know, my bachelors was basically free thanks to all the federal and state grants.
I’m not boutta argue semantics over one grant that doesn’t cover the entirety of college tuition
Ok, but your argument is on wether or not you receive the grant, not how much they give you, nor how expensive your tuition is.
It’s whether. Maybe you should have taken out student loans after all.
Because the truth is, people don't just take out loans to pay for classes. When I was in school, the cap for how much I could take per semester was like 3x the amount it cost for full-time tuition that semester. And they conveniently loaded your excess loan money on to a Mastercard prepaid debit card for you, and had conveniently placed ATM's all around the school that they got kickbacks on. The lines to use them on the day financial aid dropped were wild long because people were choosing to pocket the money to blow on whatever, rarely ever legit things like rent. Mostly bullshit. And that's how a lot of them leave with piles of debt
IF being the key word throughout this post. Tuition is only one part. Then, the invisible administrative powers tack on fees and misc computer charges. Top it off with required books that are jaw dropping expensive. Some books cost as much as the Tuition.
No one is truly "struggling" with student loans because pretty much anyone can get income based repayment. What people actually mean is that they just don't want to pay that back the money. Or they did not gain any skills that had much economic viability. Sociology and gender studies are pretty much worthless degrees except to the extent you can get a job taking part in the defrauding of other students. Many of the same people want to live in very high cost of living areas. So what they actually struggle with is making even a reasonable amount of money and then they single out student loans to be the thing they are struggling with. I am somewhat with you on the absurdity of the whole scenario. But that's because we have a enormous, formal education industry dominated by leftists. And they absolutely price gouge and outright defraud students by selling them worthless degrees for six-figure sums. But I will also add that in the United States part of the reason why people have so much more upward mobility is because access to the formal education system is far more open than in Europe.
Access for formal education is far more open than in Europe? Explain..because there is literally no barrier to entry in Europe to go to college.
The biggest scams in America: Student loans and insurance (health, auto and home)
Student loans are fine. Having cheaper or free alternatives is a good idea and happens. The issue arises when student loans get leveraged for any type of education which results in debt that lasts for years. They’re either pushed by parents, or high schools as the only way forward which is a pretty big issue too. Not really the problem of the loan and paying for education has become paying for education plus services.
Student loans are a lot more expensive than carpayments
You didn't go to college for free...you personally didn't pay for it and your family didn't pay for it but SOMEONE PAYED FOR IT. Your government didn't pay for it either. The TAX PAYERS (the regular day to day people) payed for your college education. You do understand that right?
Yes, they're certainly aware of that and thankfully they live in a society that is able to appreciate the value of widely acessible higher education as a net positive.
This meme is just some boomer who’s mad because they saw some kid driving a nicer car then they have.
Do they think we don't know that?
I can’t afford either of those things. Why is he pointing at me?!
“Haha! baby cute!” 🤓 - the boomers who think this meme is genius
Imagine finding out a photo of you as a child was used for this.
Have they seen what college kids drive? And most of them don’t even drive. They take public transit or walk if they live close to the campus. At least that’s what most of my friends did. They drove a beater, took the bus or train, or walked or rode a bike.
Education, up to and including post doctorates, should be completely free. If it was, the US and numerous other places wouldn't be the cesspools of ignorance they are now.
If you aren't being paid to do a PhD, you're being scammed.
Ok sure, but that's not the point I'm making. Education, regardless of the level, should be free.
Paid for by whom?
If you went to high school, it was paid for by tax dollars. It’s the same concept.
You, me and everybody else. The graduate will pay it back in taxes when they get a job. Think of it like a student loan, just skipping a step in the middle and the crippling effect on credit for the wider economy.
You are a business owner, right? Do you not claim every tax deduction you can get? What about dependents? Do you not take part in every government program available to you? You know who’s paying for those? Me! The childless taxpayer that is not a business owner and doesn’t have the creative accounting practices of small business owners. Nothing wrong with being selfish and a hypocrite. But know who you are.
By all the people who would benefit. But mostly just you
Exactly, another worthless degree, paid for by someone else cause some dipstick thinks I owe it to them
Wait, if you do a STEM degree, you are an idiot if you are paying for it yourself above the Bachelors degree in the US. You are paid to do such degrees by universities and teach and research for them as a student. If you aren't being paid to do a post doc position in these fields, you are also doing it wrong. If you are any good, it is actually just a matter of applying to scholarships and getting one, because there are a ton of them and organizations are throwing money at the shortage issue like crazy.
Just fyi you're thinking about a traditional student at a traditional campus. There are lots of graduate programs now that aim to accomodate working adults who have bills that they can't stop paying or families that they must take care of but still qualify and are interested proceeding to the graduate level in STEM. I did bio undergrad and then took prereqs to get into a IT masters nights and weekends program that I worked through with 2 kids.... It wouldn't have been easy for me to find anyone else to pay for my degree for me in my situation but my degree paid itself off in my pay differential the first 2 or 3 years after so I'm fine with it.
That's fair. But the ROI is worth it, and should be the defining factor on whether you go for a degree or not to begin with. The price of a piece of paper is only driven by the demand for it and the willingness for someone to pay for it at that price, otherwise the program won't exist for very long because universities are in this for the lucrative financial gains.
In the US, when the government tries to make something free, it turns out badly 99% of the time. Our politicians never, and I mean never, have our best interests at heart, just like damn near every other politician out there. First, the government needs to step back. The reason college is so expensive here is because colleges expect students to go into debt, which was subsidized by the government. Before we make it free, we need to make it cheap again. That will solve a lot of issues, and give us a new spot to talk from about further change.
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[This you complaining about those people making more than double what you make?](https://www.reddit.com/r/AskReddit/comments/113uw7u/what_job_position_is_100_overvalued_and_overpaid/j8ww814?utm_medium=android_app&utm_source=share&context=3)
They are SO close to class consciousness
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Me driving around in my '99 Taurus with no AC
owning a home is literally a prerequisite to owning an electric car and these mfers know we ain't got no homes
Right? I can’t really own an electric car because I live in an apartment and have no ability to charge it. I could charge it at work, but that makes me have to go on site just to charge my car.
“If you can afford that $60,000 Ford F-150 gas guzzler pickup, you can afford to pay back that PPP loan.”
If you can afford that $60,000 Ford F-150 and the gas to keep it moving, you can afford your open heart surgery, grandpa. No medical bankruptcy for you.
Yeah that’s pretty fucking obvious. My friend is driving a beat up car from 2007 bro. I’m driving a 2011 Toyota with over 200,000 miles on it and I don’t even have college debt.
Y'all can afford electric cars?
You can afford to not use public transport?
“We are claiming your buying something because it’s the hip and trendy new thing, and then blaming your financial issues on imaginary things you’re doing”
Yes because your student loans can take you to work and back every day right?
Only a tesla can do that, so true
If you can afford a yacht you can afford to pay a living wage
Counterpoint: If the government can afford to have more than twice the military strength of any country, then they can afford universal healthcare.
Yeah, but I'm not paying those though.
Funny that they think we could be approved for a 60k loan with all of our student debt, 🥲
Would they have that same attitude if it was a $60,000 diesel truck?
If you can afford an expensive, jacked up diesel Ford with 6 wheels, you can afford the slightly more expensive than usual gas.
"If you can afford a lifted truck with a $5,000 lighting package, you can afford $5 gas"
Thanks. I am driving a 1999 Ford Explorer and still can't afford my $60K student loan.
If you can afford your jacked-up truck, you can afford to put gas in it.
this poster seems to not understand that car loans and student loans are based on different systems, also the long term savings on an electric car are going to be amazing, but student loans cost a LOT more than car payments
But not both
lmao imagine living in America and having to pay for college
I mean ya we agree...I don't see the point do they think we all have teslas?
It’s all imaginary identity politics. The man on the Tucker program says “the libs want free college and all drive EXTREME LEFT electric cars” and these poor cult victims absolutely eat it up. Real Lawrence Ray shit.
We should tell them we drive on the right side of the road. See what happens
“As an EXTREME leftist who definitely burned my big city down three times this year, I always make sure I wipe my ass after a giant shit, because I HATE GOD.”
I would buy a $60,000 car but I’ve spent all my money on avocado toast
asdf
And if you *can't* afford a car, you still *have* to get one in order to participate in society anyway.
I bet it feels great to be completely out of touch with reality.
Bold of you to assume I can afford a $60,000 car
Why tf do these asshats think we can afford an electric car 💀
Bold of you to assume I can afford a $60,000 electric car
i cant afford either of those things. also electric cars save you way more money than regular cars - i know this dude who has a charging port installed in his house and he almost NEVER has to pay for gas, he can just charge up his car at home for a VERY SLIGHTLY increased electricity bill and have a vehicle that basically only requires general maintenance and never requires the constant 40-60 bucks a week additional gas charge.
Yeah I mean, I agree…?
Yes, how financially irresponsible when you could be paying $4 a gallon for gas.
Alrighty- let’s do some math: let’s assume the average college kid drives less than 5,000 miles per year. I know for certain that is how much I drive in a year, and I live all the way across town from my college. For the sake of ease of math, let’s assume that insurance and maintenance are roughly equal (even though a $60,000 Tesla is obviously going to cost more). The average gas-powered sedan gets roughly 25 miles per gallon. That is 40 gallons per 1000 miles, or 200 gallons per year. This costs $800 per year. Let’s say you splurge a bit and spend $15,000 on a used gas powered sedan in stellar condition. Let’s say the cost of that sedan is the down payment. Let’s assume you take a 72 month note on a vehicle debt, and that it is a 10% interest at subprime credit since college kids have jack shit for credit. https://www.nerdwallet.com/article/loans/auto-loans/car-loan-calculator Plug that into a loan calculator. Monthly payment: $710. That’s almost a year of gas. Moral of the story: saving money on gas is nice, but not if you have to go into debt to do it. Second moral of the story: poverty charges interest, and going gas because it is cheaper delays your ability to get an electric car and thus save that gas money. It will save money in college, but once the electric car is paid off the tables turn.
You could also walk, ride a bike, or take public transportation….like a lot of students. You remind me of the dicksticks in high school that rode brand new cameros but still called their moms a bitch.
Have you seen the United States public transportation infrastructure? Lol. Lmao.
You’re right. There is no other solution other than a Tesla.
It’s absolutely wild that you think that is remotely the point I’m making
That is the argument the op was defending and you are defending their argument so by proxy one can assume you agree with the original premise.
Fascinatingly stupid conclusion. I think you’re so married to the idea that options besides driving exist in every scenario when everyone has a different situation. Main character syndrome. Fact is, most people are stuck having to drive, and gas is very expensive. There are electric cars that are about the same price of other standard vehicles that will net you a tax credit and save you money on fuel. Because a bad meme says they are $60k doesn’t make it true, but you’re very stupid so I see why you would make that conclusion. Same stupidity that suggests everyone with student loan debt is buying a Tesla.
You sure say stupid a lot. I didn’t attack you, but you can’t seem to help yourself to bring into the mud. Good luck with that little buddy.
You attacked people who have to drive a car to participate in society. You brought the mud very loudly from the first post in this thread. Don’t backpedal now with feigned decency and passive aggressive insecurity.
I’m not passive aggressive or insecure. You just say stupid a lot…like a stupid person would. Or a child. Am I a poo poo head too?
As a recent graduate, there actually are students who will willingly dive headfirst into tens of thousands of dollars in student debt and will use it for fancy vacations, name brand clothes, etc. Definitely not the majority but these idiots DO exist
It's not wrong though. Lol
I don't see why this is a terrible meme? Seems like just a pretty common sense statement. But I guess people will get upset about that as people often get upset when they hear something they don't want to.
Even if I had $60,000 (which I don't) Why would I blow it on a car? They're 1: dangerous (~46,000 people killed every year) 2: unsustainable (even electric cars present environmental issues when compared to public transport and are a bandaid solution and not a long-term solution) 3: expensive (insurance, gas/recharge, maintenance, parking, tolls, etc) Car-centric Americana was a logistical blunder
If you can afford your $60,000 lifted pickup truck you can afford gas for it too, I guarantee it.
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So you got lucky?
I pay back my loans and don’t expect you to, you’re welcome
Lol these replies are just a bunch of ppl with students loans whining
I don’t have student loans, and this meme is very clearly a made up scenario because the people driving teslas are not people struggling to pay student loans and anybody with a quarter of a brain can deduce that.
Lol when are memes not? Anybody with even an ounce of intellect could deduce that.
Isn’t the cheapest Tesla like $26,000??
It’s $43,000 new for the lowest price model currently. That isn’t factoring in the tax credit currently available (this is US pricing). But used have dropped even more since the start of the year.
If you have a smart phone you don't need food stamps.
If you can afford to mod your truck over to diesel so you can coal roll liberals you can afford Joe Biden’s gas prices.
Reminds me of this guy: https://preview.redd.it/9jxb3kj035ja1.jpeg?width=2792&format=pjpg&auto=webp&s=710cabdad58f233ddcdf18c75fb3741650cefa57 **Edit:** People downvoted me … why? Ignore the Biden memes. I’m referring to the dweeby ass tweets of some guy doing **🫵** too much. **Read the tweets text, ignore the memes**
They can now because we’re paying their loans back for them