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Quigley saysAnd two years later they’re given another loan by the car companies who just need to sell their inventory!
It's mostly banks and financial institutions that are actually dumb enough to make sub prime auto loans, not automakers.
I'll just drop this here.
Driving 10 year old ICE car
Depreciation $1500
Maintenance $1500
Insurance $1000
Fuel $2000
TCO = $6000 / year
New 2018 LEAF SV w/ tech package
$500 down + 300/month - $2500 CVRP rebate - $800 PGE rebate = $7700 for 3 years, so ~$2600/year
Lease $2600
Maintenance $0
Insurance $1000
Fuel $400
TCO = $4000 / year
Driving 10 year old ICE car
Depreciation $1500
Maintenance $1500
well there might be one year when one of them needed a new clutch and another a timing belt service, but these are once-in-100Kmiles events).
I always buy one year old vehicles with mostly cash or very low interest loans.
Hugolas_Madurez saysAnd you be right, for youself. I am, or should I say, was D.I.All.Y. Rebuilt engines. But we be the 5% and shrinking.well there might be one year when one of them needed a new clutch and another a timing belt service, but these are once-in-100Kmiles events).
I spent something like $11 for my last timing belt.
ForcedTQ: "Taking money from other taxpayers/ratepayers to finance your new car just causes taxes and rates to rise, and is fucking THEFT"
That is soooo funny. You refuse tax "writeoffs" for mortgage interest, charity, child credit, business expenses, depreciation...based on fairness? Tax laws are unfair, get over it.
If Jeff Bezo takes advantage of his writeoffs, he would be legit and wise.
Don't cry for fossil fuel industry, they got plenty of government subsidies.
Quigley saysI always buy one year old vehicles with mostly cash or very low interest loans.There's a reason why these cars are dumped after a year or so.
If YOU don't like a tax, it is theft. Otherwise, it is fair. Your turn to be the dictator? When is my turn?
Could you tell me how a tax morphs from unfair to theft status?
Yelling french and throwing a tantrum is entertaining.
ForcedTQ says2018 Leaf @ 3.75 m/kWh: $400/yr = 6,976.74 miles/yr @ $0.215/kWh
I factor 10c per kWh, which is what you can get at night with EV rates. $400 / 0.1 * 3.75 = 15000 miles/yr. Let's not mention that many big employers offer free charging.
ForcedTQ saysTaking money from other taxpayers/ratepayers to finance your new car just causes taxes and rates to rise, and is fucking THEFT!
So does billions of subsidies to oil companies and car companies, and write-offs for other shit. I don't really give a crap if you don't like this particular tax benefit.
Hugolas_Madurez sayswell there might be one year when one of them needed a new clutch and another a timing belt service, but these are once-in-100Kmiles events).
I spent something like $11 for my last timing belt.
Maintenance cost on the Leaf is not ZERO. Figure the cost per year wear out for BATTERY DEGRADATION - eventual replacement/tires/shocks/bearings/body and interior upkeep. Willing to bet that $1500/yr on the ICE car is a bit too high as well. You can't say there are zero maintenance costs cause it's a lease unless Nissan agrees to take care of ALL costs that may come up during your lease!
Clearly clueless, never owned an electric vehicle. What battery degration? 4 years and 60,000 later I'm still waiting for any sign of "Battery Degradation"
Average price of gas in 2018 was over 3.50 as well.
Which car?
I factor 10c per kWh, which is what you can get at night with EV rates. $400 / 0.1 * 3.75 = 15000 miles/yr. Let's not mention that many big employers offer free charging.
ForcedTQ says
I factor 10c per kWh, which is what you can get at night with EV rates. $400 / 0.1 * 3.75 = 15000 miles/yr. Let's not mention that many big employers offer free charging.
But we must pony up over $2k for the extra meter for the privilege of the EV rate. The big employer is the route to go. We just use the big employer for our plug-in, that covers most of the use. A little bit of gasoline is used, but not much as we're averaging 80 to 120 mpg. (was gettign 65 mpg with no charging).
B.A.C.A.H. says
But we must pony up over $2k for the extra meter for the privilege of the EV rate. The big employer is the route to go. We just use the big employer for our plug-in, that covers most of the use. A little bit of gasoline is used, but not much as we're averaging 80 to 120 mpg. (was gettign 65 mpg with no charging).
As of 1/1/19 EV-A off peak rate is $0.125/kWh Summer and $0.12796/kWh Winter. No, your rate most likely is NOT $0.09/kWh... Might want to check your bill again.
If you can get a charging spot at your employer and it's free, great! That does make the calculation more attractive.
ForcedTQ saysMaintenance cost on the Leaf is not ZERO. Figure the cost per year wear out for BATTERY DEGRADATION - eventual replacement/tires/shocks/bearings/body and interior upkeep. Willing to bet that $1500/yr on the ICE car is a bit too high as well. You can't say there are zero maintenance costs cause it's a lease unless Nissan agrees to take care of ALL costs that may come up during your lease!
Clearly clueless, never owned an electric vehicle. What battery degration? 4 years and 60,000 later I'm still waiting for any sign of "Battery Degradation"
Meanwhile, I spend 30 bucks to drive 1000 miles, never spent a single minute or dollar on service (other than wiper fluid and tires), plug it in at night just like my cell phone, have all the luxury features like LED headlights, leather heated seats etc and accelerate faster than a tuned GTI. I've owned German automobiles that will sen...
MrBark saysForcedTQ saysMaintenance cost on the Leaf is not ZERO. Figure the cost per year wear out for BATTERY DEGRADATION - eventual replacement/tires/shocks/bearings/body and interior upkeep. Willing to bet that $1500/yr on the ICE car is a bit too high as well. You can't say there are zero maintenance costs cause it's a lease unless Nissan agrees to take care of ALL costs that may come up during your lease!
Clearly clueless, never owned an electric vehicle. What battery degration? 4 years and 60,000 later I'm still waiting for any sign of "Battery Degradation"
Meanwhile, I spend 30 bucks to drive 1000 miles, never spent a single minute or dollar on service (other than wiper fluid and tires), plug it in at night just like my cell phone, have all the luxury features like LED headlights, leather heated seats etc...
Here is what I actually paid PGE last 12 m billing.
$36.17 ($3.01/month) +
~$10/mnth minimum delivery charges.
Sheesh dipstick. That is charging 10 kwh EV 22000mi/yr+ entire fucken house use. 3000sf 5bd 2stor house in Sacramento valley.
I have solar net metering, my actual rates are much lower than $.09/kwh, more like $0.0036/kwh. (0.3 Cents per kwh)
Btw, still can't answer why the EV tax credit is a theft?
Lol
More than 7 million Americans are at least 90 days behind on their auto loans, according to the New York Fed.
That's higher than the peak in 2010 as the country was still reeling from the devastating financial crisis.
The "number of distressed borrowers suggests that not all Americans have benefited from the strong labor market and warrants continued monitoring and analysis of this sector," Fed economists say.
As auto loan debt has soared, so has the number of people who can't pay, with the level of serious delinquencies breaking past the heights reached just after the financial crisis.
More than 7 million Americans are 90 days or more behind on their vehicle loans as of the end of 2018, according to data released Tuesday by the New York Federal Reserve. That's more than 1 million higher than the peak in 2010 as the country was recovering from its worst downturn since the Great Depression.
"The substantial and growing number of distressed borrowers suggests that not all Americans have benefited from the strong labor market and warrants continued monitoring and analysis of this sector," Fed economists said in a report that accompanied their quarterly look at U.S. consumer debt.
The surge in delinquencies came along with a $584 billion jump in total auto loan debt, the highest increase since the New York Fed began keeping track 19 years ago.
On the bright side, the overall level of overall credit quality actually improved, with those at the lower end of the spectrum declining to 22 percent of the total share while 30 percent of the $1.27 trillion in total auto debt is now held by those on the higher end of the scale.
Those numbers "would suggest that the overall auto loan stock is the highest quality that we have observed since our data began in 2000. However, with growth in auto loan participation, there are now more subprime auto loan borrowers than ever, and thus a larger group of borrowers at high risk of delinquency," the report said.
Debt issued by auto finance companies, rather than at the dealer level, is responsible for most of the growth by less-qualified borrowers. Of the total auto finance debt, 6.5 percent was past due in the fourth quarter.
The flow of debt that slipped into the 90-day past due category edged up to 2.4 percent in 2018, compared with a low of 1.5 percent in 2012.
Overall, household debt rose by $32 billion, or 0.2 percent, to $13.54 trillion in the fourth quarter. That's $869 billion higher than the crisis peak of $12.68 trillion and is 21.4 percent above the post-crisis low point in the second quarter of 2013.
Student loan debt edged higher to $1.46 trillion while credit card balances rose to $870 billion, right around their crisis peak.
Generally, though, Americans were less hungry for debt than in the past: Credit inquiries fell to their lowest level in the history of the Fed survey, driven largely by a decline in refinancing requests.
https://www.cnbc.com/2019/02/12/a-record-number-of-americans-are-90-days-behind-on-their-car-payments.html