Customer tries to trade in Hummer EV on which he owes $170K and has $3300 monthly payment

They are about $120k right? Or am I wrong?

ETA. He bought it with a markup and put 11,000 miles on it, and wants to trade.

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$3300 monthly payment

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Just let that sink in...

Let's talk about the opportunity cost - say you have that much disposable income and a, say, usable car that will last another 4 years:

$3300 a month and you make just 3%, simple, like CDs or money market (i.e. Zero risk), in 3 years that's over $125k.

So, this cat was going to do this for 6 years and have a vehicle worth, maybe, on a good day $35k?

Wealth (generally) is the cumulative result of good decisions (and, to be fair, you need at least a little good luck or you need to avoid bad luck)

Poverty the same thing, but with bad decisions.

At the end he starts blaming the bank.

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Or he has really poor impulse control.

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He thought it was time to push the button

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I believe it. Our economy hasn't been chugging along using cash. Most people are in debt up to their eyeballs.

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Yep. There are plenty of people making 80k driving around in 55k vehicles financed for 7 years.

I rode in one at the Detroit Auto Show. It was unreal. They weigh 5 tons

No one is doubting people make dumb car buying decisions.

I'm having doubts this particular person did because he doesn't sound like a typical consumer with regards to vehicles.

If he did, it makes it more stunning.

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They are about $120k right? Or am I wrong?

ETA. He bought it with a markup and put 11,000 miles on it, and wants to trade.

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The prices run up to about $120k super loaded but most sell right around $100k. Used ones are seeing normal steep depreciation like most vehicles. Market adjustments paid to be the first kid on the black with a toy need to be chump change for someone. Unless it is most Ferraris, a limited number of Porsches or certain exotics market adjustments are just money paid for the exclusivity of being first. Actually a business expense for some people like large YT channels. It is like the people that paid massive market adjustments for a Z06 and now dealers have plenty of them.

This bit is 100% fake and idiots like me clicked on it….