this post was submitted on 30 May 2025
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Cyberstuck
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A place to post your Cybertruck fails! We're here to make fun of this hunk of shit and throw as much shade as we can to that garbage bag of a human elon.
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Alternatively, it means that the car purchase was done without enough money for the down payment and therefore maybe the buyer couldn't actually afford the car. With a solid down payment, you should never have to be underwater on the auto loan in the first place. You can plan to stay ahead of the depreciation over the life of the loan because you already paid for the drop in value.
With too little down though, gap coverage is a must.
To be fair that is assuming an average amount of depreciation and not over paying for the vehicle to begin with.
Yeah, great point. If I paid $100 for a rock it doesn't make the rock suddenly become worth $100 to the rest of the market.
He might have thought it would actually go up in value due to demand and financed the whole thing.
I'm no expert but treating a car as a financial investment device seems unwise outside of the savviest of classic car owners.
Yeah but it’s on point for the sort of Musk bro who’d pay that much for a Cybertruck.
Think of it like scalping a gaming console.
Down paymeny? No. He had to have rolled over negative equity into the loan.