4 ms·

Do people making less than 150k buy 100k cars? I don't have a good sense for how Americans budget their vehicle purchases.

frumper 3y ago
[flagged]
- grpt 3y ago
  > American's often don't budget. Just random drive-by comment hating a particular nationality...
  - frumper 3y ago
    I'm American. Most of my friends/family don't even pretend to budget. Looking at reports of the debt loads of Americans, it's pretty clear that we overspend. So if we do budget, we don't follow it.
    - grpt 3y ago
      > I'm American. irrelevant > Most of my friends/family your comment was about "Americans" generally. Not about Americans you know. pointlessly divisive, stereotyping nationality, and without merit. exactly the type of comment we need less of on HN. I replied because it prevents you from deleting the comment. EDIT: ah, I see that they are now replying with a random article found after hastily searching for sources to confirm their bias with commentary from * squints * a "financial therapist." A CNBC article that is a submarine (as coined by PG[1]), meant to advertise OppLoans. don't believe me? see all the articles written by CNBC for OppLoans: https://duckduckgo.com/?q=site%3Acnbc.com+OppLoans https://duckduckgo.com/?q=site%3Acnbc.com+OppLoans Well then.... my mistake. Anything to justify your comment. Carry on... [1] http://paulgraham.com/submarine.html http://paulgraham.com/submarine.html
      - frumper 3y ago
        I'm clearly not bothered by the ability to not delete it. Someone commented about American's budgeting habits. I responded. https://www.cnbc.com/2022/04/29/its-ok-to-not-follow-a-budget-says-a-financial-therapist.html https://www.cnbc.com/2022/04/29/its-ok-to-not-follow-a-budge... 73% of American's say they don't budget. My comment is with merit.
      - frumper 3y ago
        lol, I didn’t realize suggesting Americans don’t budget would even be controversial, let alone considered an attack. Attacking people with the rules isn’t constructive. If you think my comment isn’t appropriate, just flag it.
modeless 3y ago
I'm pretty sure a lot of people making less than 150k buy $60k F-150s.
- alphabettsy 3y ago
  There’s a big difference between $60k and 100k.
  - modeless 3y ago
    My point is Cybertruck starts at $60, not $100k, and likely a majority of sales will happen closer to $60k than $100k. But I'd venture to guess that a majority of people buying even the $100k variant do qualify for the credit.
s1artibartfast 3y ago
absolutely, and people making less than 50k buy 50k cars. Plus, there are also a lot of people in low cost of living areas that hapily drop cash on cars. I was visiting my hometown where houses are 200k and lots of households make 100k-200k/yr. All the driveways were full of new trucks, SUVs, and boats.
bonestamp2 3y ago
Should they? Probably not in most cases. Do they? Absolutely. The real killer here though is the limit. If you're making $160k, that $7000 is still a real incentive. Can you afford it without, sure, but if we're trying to incentivize EVs then everyone should get the incentive... sometimes wealthy people are wealthy because they save money whenever possible, so the incentive will still move the needle on EV adoption.
- SecretDreams 3y ago
  Like all incentives, it should be on a sliding scale. Frankly, fall benefit would start to fall off after 100k income and/or some vehicle value cutoff, maybe 50k. Beyond either value, you'd then decay to upper limits linearly (easier for the consumer to understand) with upper income level 160-180k range ish, and upper vehicle value maybe 100k. All numbers subject to change!

frumper 3y ago

[flagged]

grpt 3y ago
> American's often don't budget. Just random drive-by comment hating a particular nationality...
- frumper 3y ago
  I'm American. Most of my friends/family don't even pretend to budget. Looking at reports of the debt loads of Americans, it's pretty clear that we overspend. So if we do budget, we don't follow it.
  - grpt 3y ago
    > I'm American. irrelevant > Most of my friends/family your comment was about "Americans" generally. Not about Americans you know. pointlessly divisive, stereotyping nationality, and without merit. exactly the type of comment we need less of on HN. I replied because it prevents you from deleting the comment. EDIT: ah, I see that they are now replying with a random article found after hastily searching for sources to confirm their bias with commentary from * squints * a "financial therapist." A CNBC article that is a submarine (as coined by PG[1]), meant to advertise OppLoans. don't believe me? see all the articles written by CNBC for OppLoans: https://duckduckgo.com/?q=site%3Acnbc.com+OppLoans https://duckduckgo.com/?q=site%3Acnbc.com+OppLoans Well then.... my mistake. Anything to justify your comment. Carry on... [1] http://paulgraham.com/submarine.html http://paulgraham.com/submarine.html
    - frumper 3y ago
      I'm clearly not bothered by the ability to not delete it. Someone commented about American's budgeting habits. I responded. https://www.cnbc.com/2022/04/29/its-ok-to-not-follow-a-budget-says-a-financial-therapist.html https://www.cnbc.com/2022/04/29/its-ok-to-not-follow-a-budge... 73% of American's say they don't budget. My comment is with merit.
    - frumper 3y ago
      lol, I didn’t realize suggesting Americans don’t budget would even be controversial, let alone considered an attack. Attacking people with the rules isn’t constructive. If you think my comment isn’t appropriate, just flag it.

modeless 3y ago

I'm pretty sure a lot of people making less than 150k buy $60k F-150s.

alphabettsy 3y ago
There’s a big difference between $60k and 100k.
- modeless 3y ago
  My point is Cybertruck starts at $60, not $100k, and likely a majority of sales will happen closer to $60k than $100k. But I'd venture to guess that a majority of people buying even the $100k variant do qualify for the credit.

s1artibartfast 3y ago

absolutely, and people making less than 50k buy 50k cars. Plus, there are also a lot of people in low cost of living areas that hapily drop cash on cars. I was visiting my hometown where houses are 200k and lots of households make 100k-200k/yr. All the driveways were full of new trucks, SUVs, and boats.

bonestamp2 3y ago

Should they? Probably not in most cases. Do they? Absolutely. The real killer here though is the limit. If you're making $160k, that $7000 is still a real incentive. Can you afford it without, sure, but if we're trying to incentivize EVs then everyone should get the incentive... sometimes wealthy people are wealthy because they save money whenever possible, so the incentive will still move the needle on EV adoption.

SecretDreams 3y ago
Like all incentives, it should be on a sliding scale. Frankly, fall benefit would start to fall off after 100k income and/or some vehicle value cutoff, maybe 50k. Beyond either value, you'd then decay to upper limits linearly (easier for the consumer to understand) with upper income level 160-180k range ish, and upper vehicle value maybe 100k. All numbers subject to change!