I have 2014 Tesla S which which I recently had drive unit and battery replaced ($20k total). my friends all think I am nuts, but they all have $1k+ payments (some for 72m) while I haven’t had a car payment since 2017 and won’t have another one till 2036 :)
If your friends dumped $20K into paying off those loans they’d be a lot closer to paid off or maybe paid off completely, though. And that’s on a newer, lower mileage car.
I’m all for maintaining vehicles and keeping them on the road, but I don’t think you’re in a place to criticize your friends with $1K car payments after putting almost 2 years worth of those payments into a car that’s over a decade old.
I have spent exactly $0.00 on maintenance since 2014 when I bought the car (other than tires, 5G modem and internal battery). not sure what “paying for the car” means, it was paid off in 2017.
to simplify the math:
1. I spent total $90k
2. to have a car from 2014 through 2035-ish
for a $1k/month that would be $252k for my friends :)
