OP
OP
- First Name
- Kevin
- Joined
- Mar 16, 2023
- Threads
- 55
- Messages
- 2,494
- Reaction score
- 3,706
- Location
- Gainesville
- Vehicle(s)
- 2023 Ford Bronco Sport Outer Banks Area51
- Thread starter
- #16
I'd like to be in a position that I poop money. I never worked in the valley or anywhere near California; never had to pay over a million bucks for a house either; same house in most places in the U.S. cost 3 times less than that in California.
I could have paid cash for this BS if I wanted to withdraw from my 401K accounts, but then I'd have to declare that at the end of the year as taxable income. Or I could have borrowed it from the 401K and payed myself back at 2% (better), but the amount to borrow against my 401K with the allotted time frame to pay it back was higher than a monthly payment I wanted to have automatically withdrawn from my paycheck.
And since I don't have the amount that was needed under my mattress, I financed it with the best rate from a credit union, prior to making the purchase. I did let the dealership give me their best rate, but the credit union was better.
Your advice to EV vehicles is a sound one. Don't buy an EV, lease it. Lease for no more than two to three years, as you don't want to have to pay the cost of replacement batteries, which on average lasts a bit over two years. The cost of replacement batteries will be more than the EV's worth at that time.
Ironically, California wants to be gas free vehicles within the next 10 or so years, yet won't allow old batteries to be disposed of in their state.
I could have paid cash for this BS if I wanted to withdraw from my 401K accounts, but then I'd have to declare that at the end of the year as taxable income. Or I could have borrowed it from the 401K and payed myself back at 2% (better), but the amount to borrow against my 401K with the allotted time frame to pay it back was higher than a monthly payment I wanted to have automatically withdrawn from my paycheck.
And since I don't have the amount that was needed under my mattress, I financed it with the best rate from a credit union, prior to making the purchase. I did let the dealership give me their best rate, but the credit union was better.
Your advice to EV vehicles is a sound one. Don't buy an EV, lease it. Lease for no more than two to three years, as you don't want to have to pay the cost of replacement batteries, which on average lasts a bit over two years. The cost of replacement batteries will be more than the EV's worth at that time.
Ironically, California wants to be gas free vehicles within the next 10 or so years, yet won't allow old batteries to be disposed of in their state.
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