Boiler Room: The Official Stock Market Discussion

[winb83]

Comparing paying cash for a 10k used car to paying $50k for a new EV isn’t a fair comparison. Most people aren’t deciding between extremes like that. If breh was fine spending $50k on a car point blank, buying the EV may have been more economical than a similarly priced $50k ICE car

I'm probably more frugal than most people in this thread. I don't consider myself an excessively frugal person but somewhat frugal. Outside of a pickup truck I view spending $50K on a car as buying a toy. Yeah transportation is a need but past a certain point the purchase is more a want than a need. Again I'm not saying don't buy toys. I'm saying admit a toy is just that and don't really pat yourself on the back as making a financially savvy decision for buying one.

I'll put it in terms that more apply to me. For the last decade I've bought new cell phones every annual upgrade. I'd tell myself I was getting the most value for my previous phone by selling it or trading it in. I'd tell myself I was getting a fresh battery and more / better features. In reality I was just spending money on toys. I couldn't even come to terms with how wasteful I was being until I could accept I was just buying toys. This year I have no plans on selling either my iPhone 12 Pro or Galaxy Note20 Ultra to upgrade. Yeah It got that bad that some years I bought dual flagship phones in the same year but the 12 was an upgrade from the iPhone X because the battery was dying. If I really cared about saving money I would have taken that X to the Apple store and got the battery replaced instead of buying a new $1200 phone.

I was fine spending money on buying flagships every year for like a decade. Selling my previous model phone early before the prices dropped and buying next model when it came out was more economical but I wasn't saving money my consumption decision cost me more money and from that higher baseline I saved.

 

[mr. smoke weed]

Since the IPOE spac flip most likely dead might as well hold long term

This shyt will hit 100 more than likely I imagine

If.you believe that to be true, just sell some and cop the 1/20/23 $22.50 strike? It's like $600
Or 1/21/22 $20 strike is $345.

WL those for a down day, as IPOE gonna go up today. If it closes above $17.50, down Monday then up you go. IMO entertainment and all that.

 

[mr. smoke weed]

Selling 80% of my PLAY this AM. Avg cb of $24.

 

[winb83]

it's less than owning a camry which is 12k cheaper.




and the gap will get bigger because the cost of EVs goes down while ICE cars go up.

What kind of range is that 10 year old Tesla getting on that battery? It's a false comparison because nobody spending that kind of money on a car is gonna keep it that long dealing with the unique pitfalls an EV will have on range after the battery ages. His insurance numbers also don't factor the fact that after the Camry gets old enough you can drop down to PLPD and self insure the actual car because it will be so low in value you won't need higher insurance on it while you'll likely want to keep full coverage insurance on that Tesla.
When an out-of-warranty EV fails, who you gonna call? - Electrek

 

[FabTrey]

current battery module is supposed to last 300-500k miles. and to replace the battery it only costs 5-7k. but the million mile battery is coming. so basically it's supposed to last really really long.

i don't really know about the insurance difference, but you still save so much more money in running the car in the long run.

 

[Spree At Last]

Like many of you, I'm not going back to ICE and when the time comes to replace my current car, I'm definitely going to buy a tesla, probably one of the SUV models. The real debate is do I sell some of my TSLA shares to buy it... I don't think I can bring myself to do that

 

[FabTrey]

anyway rumors of tesla and toyota collab is just flat out stupid



tesla gains nothing from tesla dont need manufacturing help. don't need their tech. they will make money, but they ain't got no money problem. this is a desperate attempt by toyota cuz they bet on a wrong technology far too long. instead of spending money on hybrids they really needed to get on the EV train 10 years ago.

 

[mr. smoke weed]

Glad yall dudes Ballin in here

I dont switch cars for 8 years

 

[FabTrey]

Like many of you, I'm not going back to ICE and when the time comes to replace my current car, I'm definitely going to buy a tesla, probably one of the SUV models. The real debate is do I sell some of my TSLA shares to buy it... I don't think I can bring myself to do that

i like ICE cars



but i gotta admit this shyt is pretty cool

 

[NkrumahWasRight Is Wrong]

Glad yall dudes Ballin in here

I dont switch cars for 8 years

I switch cars when my current one is on the verge of death

I always target used Lexus' under 100k miles

 

[Olmec]

LTRPB is carrying me

 

[FabTrey]

Glad yall dudes Ballin in here

I dont switch cars for 8 years

i haven't bought a car since 2007. mine got 200k miles on it. not looking to buy a new car anytime soon.

 

[Deafheaven]

If.you believe that to be true, just sell some and cop the 1/20/23 $22.50 strike? It's like $600
Or 1/21/22 $20 strike is $345.

WL those for a down day, as IPOE gonna go up today. If it closes above $17.50, down Monday then up you go. IMO entertainment and all that.

You speaking greek to me homie, explain this out a bit more lol

 

[Rekkapryde]

I still don't see EVs as worth the premium they cost. He was saying driving a Tesla knocks off paying $450 a month in gas. I guarantee there's a self incurred cost in there that pushes it that high in the first place.

It's like when a person tells you a car lease saves them money because they don't have to trade in the car every 3 years to get a new one. I look at them and go if you really wanted to save money you wouldn't switch cars every 3 years.

I could get a cheap used ICE car to drive to and from work. A reliable Japanese type, pay cash for it, and even if you factor in maintenance, gas, and all other cost it's gonna be way cheaper than paying $50K+ for an EV. We could get that to probably a 15 year+ horizon to where the cost even break even.

The tech geek in me would love a Tesla but the pragmatist in me knows it's just a toy. You can rationalize almost anything to your advantage if you apply base logic that forces it to be so. As I've gotten older my attitude has been to admit when I'm buying a toy and stop dressing it up in savvy decision making. That's not saying there's anything wrong with buying toys because there isn't.

Far from just a toy sir.

The math for me made it an easy choice.

• maintenance is next to none (NO oil changes, brakes, alignments, etc.). I only change tires and wiper blades/fluids. That is IT.
• of course most won't have the trip to work I do, but in my situation it works great. The wear and tear isn't nearly the same on an EV
• the security features great (Sentry mode will record video of anyone getting close to your car and you can watch that shyt)
• NO Gas price price fukkery
• Resell value is also light years ahead of a Gas whip
• SAFETY Features - top of the line, no others come close (another big reason why I copped esp with my commute... I-285 )

A Tesla with 50k >>>>>>>> An Gas Car with the same mileage. Not even REMOTELY close


I haven't had a car payment since 2013 so the money I always had allotted for it, I keep saving. So when I copped this shyt, I just cut the check.

 

[Rekkapryde]

all the cars I’m interested are in that range only thing that makes EVs in that range a hard sell is that you have to buy, can’t lease. I’m not taking the depreciation hit on a brand new 70k+ car

the depreciation on an EV <<<<<<<<<<<<<<<<<<<< Gas Car. Holds value much longer.