Affordability

moefren2000

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Watched a podcast recently and one of the guests mentioned how he thinks people buying a Cybertruck are probably overspending on what they can afford. Or CT buyers are thinking they can make money from making YouTube videos or renting their cars on Turo to justify the costs.

What percentage of people are going above their budget just to afford the FS CT?
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Gigahorse

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Based on US household income statistics and the fact that a FS series AWD is about $125k out the door, a lot.
Even a couple of youtubers have commented on that the current pricing does not make sense unless you are monetizing it for content.



That said there are PLENTY of people who can afford a luxury vehicle, which is the category the CT is in with its current pricing.
 

cvalue13

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Watched a podcast recently and one of the guests mentioned how he thinks people buying a Cybertruck are probably overspending on what they can afford. Or CT buyers are thinking they can make money from making YouTube videos or renting their cars on Turo to justify the costs.

What percentage of people are going above their budget just to afford the FS CT?
I donā€™t know what percentage exactly, but itā€™s a theme I def sense

a couple of key examples from around here


Reminds me of some advice I once got from an old timer in the vintage watch space:

ā€œbefore you buy a piece, imagine you couldnā€™t show or tell anyone about it - not on the forums, not at a meet-up, not even peeking out under your shirt cuff. If youā€™d still buy it then, *maybe* itā€™s worth buying.ā€
 

Celiboy

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Thatā€™s a good question. To be able to buy a CY you have to either have the cash or be able to qualify for a loan. For those able to put down a lot or pay cash, not a problem. For those getting financing, $80K-100K is also a lot but folks do it everyday and donā€™t necessarily need a YouTube channel to afford it. I would only believe folks are using YouTube to afford it if they said it themselves and not from someone else who may be speculating. The guy buying $100k Raptor isnā€™t being questioned on if he can afford it. We pretty much assume that if the bank is willing to loan him money or he had cash, he could afford it. Same with the CT. If not, repo men will be busy lol.
 


LonelyCTfan

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Haha šŸ˜‚ I saved cash the last 4 years to afford the CT, then got sick, spent it all on medical bills, realize now I spent all that money for nothing...so now I'm like Ef it ...I'm bout to enjoy driving my grown up tank before I leave this life behind.... tomorrow isn't guaranteed. Luckily I have little family and no kids, others can't make the irrational decisions I am. I'm just glad my midlife crisis is happening when the CT comes out.
 

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I pay $4500 a month in car payments, before the CY arrives, can I afford it? No one knows anything about me. This is a huge world with lots of people who make tons of money. Or can afford what they buy.

The other thing is cost of living applies to most things, but rarely automobiles. 100k is the same in San Jose as podunk middle America.

I am 40 ish, run a website for a publicly traded company that you might have heard of, have a house that is very nearly paid of, all the toys, and multiple cars. I am a nobody in Ohio.

But agree some should not be buying any 6 figure car on here, but remember there are 400 million people in the country, lot of money out there.
 

Amuma

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Watched a podcast recently and one of the guests mentioned how he thinks people buying a Cybertruck are probably overspending on what they can afford. Or CT buyers are thinking they can make money from making YouTube videos or renting their cars on Turo to justify the costs.

What percentage of people are going above their budget just to afford the FS CT?
I think most who purchase cars go slightly above what they can actually afford and they adjust accordingly.
 

intimidator

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Watched a podcast recently and one of the guests mentioned how he thinks people buying a Cybertruck are probably overspending on what they can afford. Or CT buyers are thinking they can make money from making YouTube videos or renting their cars on Turo to justify the costs.

What percentage of people are going above their budget just to afford the FS CT?
What we do know, is only a small % of US consumers can "afford" a Cybertruck Foundation Series.

Even when the price comes down to $79K, it will still be a small # of buyers who will / want to spend that much on a vehicle.
 


Nidavellir

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It is obvious that the Non Beta Series Cybertruck is $20K cheaper. So it really comes down to if the person has control and patience to wait. You can say they have the money to afford the Beta Series, however, you can do a lot of other things with the $20K you save, like some nice upgrades to your Cybertruck. Without a doubt there will definitely be some repos happening.

IE: This is one of many general rules you will find about car payments:
Financial experts answer this question by using a simple rule of thumb: Car buyers should spend no more than 10% of their take-home pay on a car loan payment and no more than 20% for total car expenses, which also includes things like gas, insurance, repairs and maintenance.
 
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davelloydbrown

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Haha šŸ˜‚ I saved cash the last 4 years to afford the CT, then got sick, spent it all on medical bills, realize now I spent all that money for nothing...so now I'm like Ef it ...I'm bout to enjoy driving my grown up tank before I leave this life behind.... tomorrow isn't guaranteed. Luckily I have little family and no kids, others can't make the irrational decisions I am. I'm just glad my midlife crisis is happening when the CT comes out.
you should think about medical insurance. I was going to use some of my tesla stock to buy a CT but it is in the tank now, seems to be a trend.
 

davelloydbrown

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What we do know, is only a small % of US consumers can "afford" a Cybertruck Foundation Series.

Even when the price comes down to $79K, it will still be a small # of buyers who will / want to spend that much on a vehicle.
about the same amount of people who can afford a mx and ms, < 100 k per year.
 

intimidator

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about the same amount of people who can afford a mx and ms, < 100 k per year.
Tiffany and Gucci have a very nice niche marketing strategy and the buyers they have gladly pay for their products.

But Tiffany and Gucci don't desire to reach mass markets or the average consumer.
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