One of the most powerful things he said in the video was that poor people don't own things and rich people own things and when inflation hits the ownership value increases. Great message! Keep doing what you do!
On my 3rd 👏 i always knew these ideas but couldn’t put it all together. With the right financing resource, garage to maintain/repair and supply of cars its really not complicated
I have learned a lot about car hacking from just watching some of your videos. I'm currently working to increase my income even more to get to enjoy some of those cars. Keep it going PJ and don't pay mind to the haters.
The importance i see is knowing how to Daily drive that exotic, to be smart in the hacking and be disciplined enough to keep the miles down and enjoy it. Good video
This shit should be taught in every Economics Class at all Ivey leagues universities. The key words: need vs. want! You nailed it my man! Well done PJ, well done!
If it was taught everywhere and everyone did it then the market would adapt and evolve and the strategy would be less effective. Even if this information was free and widely available, most humans are lazy and don't want to work. So you can always count on that and take advantage of that fact and get ahead of them by studying and applying knowledge
@@adreyannnn5557 right now that was my only hack. I’m driving a poor person car right now to keep my credit free for another apartment building purchase. Going to buy my next hack after I get another apartment building. Probably an r8 or Aston vantage v8
Your point is a buy a car in its best trim **after the first 3 years** of heavy depreciation rather than brand new at its average trim, and then sell it a few years later before it becomes undesirable for resell. Basically keep cars from approx year 3-6. One factory not included in that analysis is year 3-6 is likely no longer under full warranty so it has increased repair and maintenance costs and risk, potentially older technology and body style, and probably lack of “new car smell” and feel. I tried to get excited about used supercars but honestly couldn’t get past the used part.
Love the video and concept, but the math is incorrect to finance a $120,000 vehicle with 2% interest. Total Loan Amount $100,000.00 Sale Tax (Miami FL) $7,200.00 Upfront Payment $27,500.00 (downpayment 20K + taxes and title/registratrion) Total of 36 Loan Payments $103,113.28 Total Loan Interest $3,113.28 Total Cost (price, interest, tax, fees) $130,613.28 AVG Monthly payment: $2,864.26/month
Hi PJ thank you for your valuable teachings,does hacking finance work outside USA ,I wonder if that can be done in South Africa.please let us know. Thank you
This sounds great until someone hits your car. Once you get Into an accident even if it’s not your fault the value of your car drops down tremendously.
I love your videos and have spent countless hours watching and researching. But I want to know, is this possible in Canada? It doesn't seem nearly as well documented! Any help is great 🙌
It's a lot of talking to say buy a car used, after it's initial depreciation hit. You can do it with any car not just exotics. It's basically bangernomics for exotics. Except with bangers if something goes wrong you can just bin it and get another :P There is always a risk with investing in cars. Most banks in most countries will not give you big loans to do this unless you have something else to guarantee it with. Especially at the moment. If you want to make money on a car, do not buy a new/modern car. Buy a nice classic you can afford and look after it. Then if you hit hard times you can sell up and get the money back. Always avoid taking out loans if you can.
I'm surprised no one's questioning the numbers. On a 150k car, if you put 20k down and then borrow 130k for 3 years at 2%, you'll have to pay a monthly emi of 3724. I dont know where the magical 1400 is coming from
He's assuming a loan of 72 to 84 months and saying you decided to sell your car 3 years into that loan. Same as the end of a lease, but in a lease you get zero back. If you have the right vehicle and sold 3 years into the loan then you'd recoup a lot of the money it cost you to drive the vehicle for 3 years meaning actual cost to drive is WAY less than the lease.
In the time you spend waiting for another sale, the car market will have gone up another 15k. Right now is a critical time to get the right car for the right money before markets move again over the next 24 months due to recession otherwise youll end up paying more for a shittier spec than what you could have bought today.
The real "car hack" is the Mitsubishi Mirage. A 2022 Mirage SE with 17k miles is $10,995. A 2020 Mirage SE with 38,000 miles is $10,995. That's two years of ownership and 20,000 miles of driving with zero depreciation. If you don't mind missing a few options you can get a 2024 Mirage es with 700 miles for the same price as a 2019 Mirage se with 38,000 miles. That's 5 years and 37,000 miles of driving with zero depreciation. Your cost of ownership is the interest on the loan. You're not gonna daily that McLaren.
I'm teaching people how to drive their dream cars in a financially responsible way, so they can enjoy their passions while they get rich. Meanwhile people who actually are broke lose more leasing a honda civic than our members do owning Maseratis.
I've watched this video over and over again and it makes sense how you make your money back but I'm not understanding how you get the initial loan to be 1400/month with only 20k down... If you bought a car for 120k with 20k down that puts you at 100k with a 1400/ month payment your looking at a 71.42 months of paying... are you saying you'll sell the car at 36 months with a targeted mileage on it so you can recoup your money at 36 months?
Regardless of the length of payment if you buy a desirable car today for $150k and sell it in 2 years for $150k all you would have lost is your interest on your payments and taxes. The monthly payments and loan term are kind of irrelevant. Another reason why I don't like this example is it is common knowledge that a lease is a total loss. He is making an apples to oranges comparison here too because buying a 3 year old car without a warranty is not the same thing as driving a fresh car off the lot as a lease. At the end of the day if you blow your SVJ motor out of warranty it may financially ruin you. Something to consider.
@@drewmorg. Also he totally botched the calculation when he SUBTRACTED 10 grand of “mileage cost” from the payment on the car. ( 15:43 )Mileage costs would be on top of your monthly payment. After 3 years that would be 80k into the car, this means selling at 110k your getting about 30k back… 30k divided by 36 months is 833 a month. PLUS INTEREST if you got a loan. That mistake changes things by 20 thousand dollars LOL
@@RainBowBaLLerHDnope, it’s you guys who can’t understand. The 120k loan you are never meant to pay fully within 36 months. You sell the car after 36 months and you get back all your money so if usage costs were 0 and interest rates were 0 you would have lost zero. So you have to account only for the loss of usage cost and interests, which in his example accounted for 10k. Surely it could be more in RL but that was his point
to a degree yes. But cars get driven and remain investments. To my knowledge you can't regularly wear your collectible sneakers without taking a hit whereas with cars you can drive them, network with them, have fun etc and still break even or make money
@@MOHIMEDIALLC well. The price of a new car (or with less miles) will always be more than the price of a used car (or with more miles). Sneakers is similar. Yes a new pair will always go for more, but you can still casually wear a lot of pairs of Jordan’s and sell them for way more than you paid a few years later. But obviously if they were knew they’d sell for more. Same stuff
@@high.steaks nope. PJ bought 3 Aventador svjs. He bought his first brand new 100k below sticker and now you can't buy them under 200k over msrp and they're going to be worth 1 mill soon (double MSRP). He's going to make money on his huracan sto too. P1, 918, laferrari owners all are instantly in profitable positions after taking delivery of a car brand new, especially LaFerrari owners. 2013 Mercedes SLS AMG and 2000s Ford GT are over MSRP now in current market AMG gt black series is worth more in the secondary market than brand new I can keep going
the math in this video is wrong. you spent 80k not 70k on the sv because of the 10k in tires, maintenance, etc. that is not including the 10k lost with bad negotiation. so you take a 20k not a 10k loss(ignoring the negotiation loses). plus in 2024 interest rates are high, so its more like a 30k loss because the amount you are paying interest on is much higher. after tax write offs the sv is pretty comparable to the lease. so the question then becomes, do you want a newer not as nice car or an older nicer car. this is not a way to save or make money unless you are buying a car that has actually started appreciating, which will be quite old and as such not a car that is a flex. to belabor the point, unless the car is appreciating 2% per year(1/4th of an estimate for gains with good investments in the market) + whatever your interest rate on it is, which will probably be around 6%(more like 7%, but you arnt paying interest on total value, your paying it on price - down payment), then your opportunity cost will be about 8% per year. plus in that case you would be risking having to pay for big repairs, getting t-boned, etc. so the investment is much riskier. furthermore, you'd need to account for the registration fees, transfer fee, etc. realistically, if the car is appreciating less than 15% per year, which is extremely rare, then it is a bad investment. these numbers are all rough estimates, but you get my point. TLDR: dont take financial advice from someone who can't spell liability.
Good stuff PJ, how are you dealing with/accounting for tax? We pay about 15 percent tax anytime we buy a car in Vancouver Canada. So a 200k Car is 30k Tax right away.
in the US you can create a montana llc to register the cars too which allows you to legally reduce and avoid taxes. Certain states like florida where PJ is, tax is minimal, Check and see which tax loopholes might exist for canadian provinces and see how you can structure it
He fails to mention a lot of insurance companies dont really cover exotics because they cant afford to repair them. No insurance company willingly pays 10k to repair a bumper. So i suggest if you doing this have 2 cars. Your daily and the hack car you basically flipping for money. 25:06 isnt this consumerism?
So all these in a nutshell circles around buying "The Righr Car" and Owning, Driving Or Holding it for a period of time then Selling it for the same or More Money than you Bought it For..... Hmmmm
If you think what was described here was what used to be called just "buying used" you're deliberating not listening. I'd be happy to explain if you were sincerely confused but it really sounds like you're just looking for an excuse to write PJ off as a scammer and not actually trying to learn anything.
@@rayF4rio Until the recent supply chain strained economy, no one made money on their exotics buying used. In the current economy got lucky but didn't make as much money as ECH members did who were told to hold their cars and enjoy the ride as we entered the pandemic (something no one else was saying, PJ bought his first SVJ the day of lockdowns). Except PJ (and other ECH members) have been using this method for over decade PRIOR to the 2020 market and taking minimal loss/breaking even on his exotics or luxury vehicles. That right there is fundamentally different than just "buying used" like most people do. In a nutshell hacking a car is buying a car using data to buy a great spec (not cheapest garbage on the market) and using the stack concept PJ referenced in the video to forecast the price of the car you're buying today 6-18 months out and buying the car ahead of that market and then exiting that car as it approaches the forecasted market, recouping your money (sometimes profiting, depends on what you buy and how much you drive) and rolling it into the next level car, or watch, or real estate or whatever asset and recycling the money (the wealth transfer concept he talks about in the video). At the end of the day you are driving a great spec for 6-18 months and recouping almost all of your money whereas normally people lose their ass. You can also hack brand new cars but there's specific cases where it makes sense and the data used is different compared to a traditional hack. Exotic Car Hacks is a finance course, not a car course.
@@MOHIMEDIALLC interesting. You are correct in that this is more than just buying used. I would say this applies to those select guys who want to drive an exotic or high spec low volume vehicle and not lose money in the short term. A little bit of a gamble, but if (a big if) you know the market, then you do reduce your risk somewhat. I guess the gamble now is that the supply will remain short on just about all vehicles, given the change in dealer inventory levels. It does appear that the new car market is on Flux, impacting used. How long this last is difficult to know, but maybe a few yrs. Thanks for the reply.
@@rayF4rio not a gamble. Entirely data driven decisions. Car hacking worked 10 years before supply chain issues and will work after. PJ has been telling people to buy 2013 SLS amgs for 2 years now (long discontinued nothing to do with today's supply chain) and those have gone from 160k to 320k+ since then. Same with 2006 Ford GT. 458 is also great for long term investment.
The insurance isnt much as you would think because people dont drive their exotics as much as a regular car so the risk is actually less for the insurance company
The formula for insurance isn't as straightforward as you think. One key factor is how often a vehicle is crashed...as you can imagine not too many exotic cars have been crashed compared to a toyota corolla which is crashed all the time through sheer volume. If you dig up PJs videos/posts about his insurance payment on his Ford GT or Senna or whatever, you'd probably get depressed because of how much lower it is than the payment for whatever you're driving currently lol. And this is Florida insurance which is top 5 most expensive state to insure.
![BOWKYLION - วิงวอน (ex-change) [Official MV]](http://i.ytimg.com/vi/cLdnZWDaO-w/mqdefault.jpg)
One of the most powerful things he said in the video was that poor people don't own things and rich people own things and when inflation hits the ownership value increases. Great message! Keep doing what you do!
This makes a lot of sense! Thank you so much. I’m going to go ahead and pull the trigger on this 720s
Yesssirrrrrrr
On my 3rd 👏 i always knew these ideas but couldn’t put it all together. With the right financing resource, garage to maintain/repair and supply of cars its really not complicated
I have learned a lot about car hacking from just watching some of your videos. I'm currently working to increase my income even more to get to enjoy some of those cars. Keep it going PJ and don't pay mind to the haters.
He is right I was 21 wen I bought my first r8
PJ, I saw your videos many times and still doing so. Thanks for your fabulous work!
The importance i see is knowing how to Daily drive that exotic, to be smart in the hacking and be disciplined enough to keep the miles down and enjoy it. Good video
This shit should be taught in every Economics Class at all Ivey leagues universities.
The key words: need vs. want! You nailed it my man!
Well done PJ, well done!
If it was taught everywhere and everyone did it then the market would adapt and evolve and the strategy would be less effective. Even if this information was free and widely available, most humans are lazy and don't want to work. So you can always count on that and take advantage of that fact and get ahead of them by studying and applying knowledge
I used to think you were just an Persian pirate, but I am beginning to think that you actually know what you are talking about
😂😂😂 Persian Pirate
LOL
I had a similarly thought
@@hectorfabio4149 you have to give him credit, he seems to know what he is talking about
@@jgozo9476 oh yea, i do. Especially on one of his recent videos about business and progression and what not. That was good stuff.
U guys are the best. I hacked an M4 for 6 months and made 4K on it. I just have no idea what I should get next 😭
Shelby GT500
Hey nick how much miles did you get your m4 with
@@adreyannnn5557 39k in 2020 tho
@@nicknedelcu thanks for replying bro , also how has car hacking been for you I make decent amount tryna get into it any tips ?
@@adreyannnn5557 right now that was my only hack. I’m driving a poor person car right now to keep my credit free for another apartment building purchase. Going to buy my next hack after I get another apartment building. Probably an r8 or Aston vantage v8
Your point is a buy a car in its best trim **after the first 3 years** of heavy depreciation rather than brand new at its average trim, and then sell it a few years later before it becomes undesirable for resell. Basically keep cars from approx year 3-6. One factory not included in that analysis is year 3-6 is likely no longer under full warranty so it has increased repair and maintenance costs and risk, potentially older technology and body style, and probably lack of “new car smell” and feel. I tried to get excited about used supercars but honestly couldn’t get past the used part.
nah inaccurate. we have a course to teach you this
What is a good way to gather value graphs for cars, so as to see which are already increasing and which are likely to just plateu?
Makes so much sense, awesome video.
Love the video and concept, but the math is incorrect to finance a $120,000 vehicle with 2% interest.
Total Loan Amount $100,000.00
Sale Tax (Miami FL) $7,200.00
Upfront Payment $27,500.00 (downpayment 20K + taxes and title/registratrion)
Total of 36 Loan Payments
$103,113.28
Total Loan Interest $3,113.28
Total Cost (price, interest, tax, fees) $130,613.28
AVG Monthly payment: $2,864.26/month
Comes out to more like a $20,000 ($555/mo) loss but still a great concept !! Thanks for sharing this.
Thanks a million. How do I know which car models are hackable and how long should I keep it before selling for the best result?
Newby here, is this only possible in the US or also in Europe?
how do you get the 120k car for 70k then sell it for 120k again? i dont undersstand
I really love this video!
Hi is this applicable in the UK?
Hi PJ thank you for your valuable teachings,does hacking finance work outside USA ,I wonder if that can be done in South Africa.please let us know.
Thank you
This sounds great until someone hits your car. Once you get Into an accident even if it’s not your fault the value of your car drops down tremendously.
The idea is to not drive the car often. Ideally you should have a second car. A daily then the hack car to keep bank rolling money
I love your videos and have spent countless hours watching and researching. But I want to know, is this possible in Canada? It doesn't seem nearly as well documented! Any help is great 🙌
Yes it is
I'm pretty sure a bank isn't giving a loan on a SVJ if a consumer is making 60k a year
Yet they give someone a 500k house for that salary....
missing the forest for the trees
It's a lot of talking to say buy a car used, after it's initial depreciation hit.
You can do it with any car not just exotics. It's basically bangernomics for exotics. Except with bangers if something goes wrong you can just bin it and get another :P
There is always a risk with investing in cars. Most banks in most countries will not give you big loans to do this unless you have something else to guarantee it with. Especially at the moment. If you want to make money on a car, do not buy a new/modern car. Buy a nice classic you can afford and look after it. Then if you hit hard times you can sell up and get the money back. Always avoid taking out loans if you can.
I’m pretty sure it’s actually illegal for a bank to “loan” you money
@@cityempress5746is this comment a joke? Lol
Someone buy this man a bigger t-shirt
I'm surprised no one's questioning the numbers. On a 150k car, if you put 20k down and then borrow 130k for 3 years at 2%, you'll have to pay a monthly emi of 3724. I dont know where the magical 1400 is coming from
Who the fuck borrows for 3 years?
He's assuming a loan of 72 to 84 months and saying you decided to sell your car 3 years into that loan. Same as the end of a lease, but in a lease you get zero back. If you have the right vehicle and sold 3 years into the loan then you'd recoup a lot of the money it cost you to drive the vehicle for 3 years meaning actual cost to drive is WAY less than the lease.
@@jcornejo1287
not to mention if you trade in car a t a dealership they lowball the shit out of you.
Did PJ say that you can't lease a Jetta for $1,400 per month?
New favorite channel
Income is way better now so I can get in the game, just need one of those Black Friday/holiday deals to come on by to join up ✅
Thanks
In the time you spend waiting for another sale, the car market will have gone up another 15k. Right now is a critical time to get the right car for the right money before markets move again over the next 24 months due to recession otherwise youll end up paying more for a shittier spec than what you could have bought today.
The real "car hack" is the Mitsubishi Mirage. A 2022 Mirage SE with 17k miles is $10,995. A 2020 Mirage SE with 38,000 miles is $10,995. That's two years of ownership and 20,000 miles of driving with zero depreciation. If you don't mind missing a few options you can get a 2024 Mirage es with 700 miles for the same price as a 2019 Mirage se with 38,000 miles. That's 5 years and 37,000 miles of driving with zero depreciation. Your cost of ownership is the interest on the loan. You're not gonna daily that McLaren.
How do you do this with new cars that are not appreciating yet
so you are teaching people how to look rich but be broke. way to go dude
I'm teaching people how to drive their dream cars in a financially responsible way, so they can enjoy their passions while they get rich.
Meanwhile people who actually are broke lose more leasing a honda civic than our members do owning Maseratis.
that is great info PJ. could you do an info presentation video on the WATCH TRADING COURSE? THANKS
Not sure if you saw but it got uploaded right around the same time on the watch trading academy youtube channel
The base model monthly payment is more expensive than 1400 a month
I've watched this video over and over again and it makes sense how you make your money back but I'm not understanding how you get the initial loan to be 1400/month with only 20k down... If you bought a car for 120k with 20k down that puts you at 100k with a 1400/ month payment your looking at a 71.42 months of paying... are you saying you'll sell the car at 36 months with a targeted mileage on it so you can recoup your money at 36 months?
Regardless of the length of payment if you buy a desirable car today for $150k and sell it in 2 years for $150k all you would have lost is your interest on your payments and taxes. The monthly payments and loan term are kind of irrelevant. Another reason why I don't like this example is it is common knowledge that a lease is a total loss. He is making an apples to oranges comparison here too because buying a 3 year old car without a warranty is not the same thing as driving a fresh car off the lot as a lease. At the end of the day if you blow your SVJ motor out of warranty it may financially ruin you. Something to consider.
@@drewmorg. Also he totally botched the calculation when he SUBTRACTED 10 grand of “mileage cost” from the payment on the car. ( 15:43 )Mileage costs would be on top of your monthly payment. After 3 years that would be 80k into the car, this means selling at 110k your getting about 30k back… 30k divided by 36 months is 833 a month. PLUS INTEREST if you got a loan. That mistake changes things by 20 thousand dollars LOL
@@RainBowBaLLerHDnope, it’s you guys who can’t understand. The 120k loan you are never meant to pay fully within 36 months. You sell the car after 36 months and you get back all your money so if usage costs were 0 and interest rates were 0 you would have lost zero. So you have to account only for the loss of usage cost and interests, which in his example accounted for 10k. Surely it could be more in RL but that was his point
Hold up ……we not just gonn skip over liabilte 👀😳
Just joking around bro ✊🏽😂
Don’t mind me 🤟🏽
I might have missed it, no lease but then what? Is it a loan?
yes it's financed or all cash. Never lease.
what’s the name of that screen?
Why didn’t I find you before?!? Wow….
thank you
Currently looking to get into my first supercar sub 150k, any suggestions?
Old gallardo or an R8
Porsche 911 Turbo mid to low 2010’s. These cars are doing great
Mclaren 650S. I’m loving mine.
Made my day!👍
How much is credit important to being able to hack.
680+ typically, great if you're at 720. Alternatively, credit doesn't matter if you can buy the car cash.
It’s honestly pretty similar to sneakers
to a degree yes. But cars get driven and remain investments. To my knowledge you can't regularly wear your collectible sneakers without taking a hit whereas with cars you can drive them, network with them, have fun etc and still break even or make money
@@MOHIMEDIALLC well. The price of a new car (or with less miles) will always be more than the price of a used car (or with more miles).
Sneakers is similar. Yes a new pair will always go for more, but you can still casually wear a lot of pairs of Jordan’s and sell them for way more than you paid a few years later. But obviously if they were knew they’d sell for more. Same stuff
@@high.steaks nope. PJ bought 3 Aventador svjs. He bought his first brand new 100k below sticker and now you can't buy them under 200k over msrp and they're going to be worth 1 mill soon (double MSRP). He's going to make money on his huracan sto too. P1, 918, laferrari owners all are instantly in profitable positions after taking delivery of a car brand new, especially LaFerrari owners.
2013 Mercedes SLS AMG and 2000s Ford GT are over MSRP now in current market
AMG gt black series is worth more in the secondary market than brand new
I can keep going
@@MOHIMEDIALLC don’t make me give my sneaker examples. There’s toooo many I promise 😂😂. But yes I know, PJ does this (no sarcasm)
@@MOHIMEDIALLC Break Even Where? Who do you sell Car that's Now Older and With More Miles To?? 🤔
the math in this video is wrong. you spent 80k not 70k on the sv because of the 10k in tires, maintenance, etc. that is not including the 10k lost with bad negotiation. so you take a 20k not a 10k loss(ignoring the negotiation loses). plus in 2024 interest rates are high, so its more like a 30k loss because the amount you are paying interest on is much higher. after tax write offs the sv is pretty comparable to the lease.
so the question then becomes, do you want a newer not as nice car or an older nicer car. this is not a way to save or make money unless you are buying a car that has actually started appreciating, which will be quite old and as such not a car that is a flex.
to belabor the point, unless the car is appreciating 2% per year(1/4th of an estimate for gains with good investments in the market) + whatever your interest rate on it is, which will probably be around 6%(more like 7%, but you arnt paying interest on total value, your paying it on price - down payment), then your opportunity cost will be about 8% per year. plus in that case you would be risking having to pay for big repairs, getting t-boned, etc. so the investment is much riskier. furthermore, you'd need to account for the registration fees, transfer fee, etc. realistically, if the car is appreciating less than 15% per year, which is extremely rare, then it is a bad investment. these numbers are all rough estimates, but you get my point.
TLDR: dont take financial advice from someone who can't spell liability.
hi I live in Australia. Does WT work there? I'm looking at 2018 BMW M4 CS. Only 45 in Australia, 2000 made. Thoughts?
Not really. US is best. Works in Canada and UK to a degree. You can apply some of the principles to save some money though.
Good stuff PJ, how are you dealing with/accounting for tax? We pay about 15 percent tax anytime we buy a car in Vancouver Canada. So a 200k Car is 30k Tax right away.
in the US you can create a montana llc to register the cars too which allows you to legally reduce and avoid taxes. Certain states like florida where PJ is, tax is minimal, Check and see which tax loopholes might exist for canadian provinces and see how you can structure it
He fails to mention a lot of insurance companies dont really cover exotics because they cant afford to repair them. No insurance company willingly pays 10k to repair a bumper.
So i suggest if you doing this have 2 cars. Your daily and the hack car you basically flipping for money.
25:06 isnt this consumerism?
This video was great!
So all these in a nutshell circles around buying "The Righr Car" and Owning, Driving Or Holding it for a period of time then Selling it for the same or More Money than you Bought it For..... Hmmmm
PJ does a dodge challenger RT scat pack work
So isn't this just what we used to call "buying used"? Where is the "hack".
Absolutely nothing proprietary here, except your marketing scheme.
If you think what was described here was what used to be called just "buying used" you're deliberating not listening. I'd be happy to explain if you were sincerely confused but it really sounds like you're just looking for an excuse to write PJ off as a scammer and not actually trying to learn anything.
@@MOHIMEDIALLC do you have a simple strait forward explanation? If so. I'm listening.
@@rayF4rio Until the recent supply chain strained economy, no one made money on their exotics buying used. In the current economy got lucky but didn't make as much money as ECH members did who were told to hold their cars and enjoy the ride as we entered the pandemic (something no one else was saying, PJ bought his first SVJ the day of lockdowns). Except PJ (and other ECH members) have been using this method for over decade PRIOR to the 2020 market and taking minimal loss/breaking even on his exotics or luxury vehicles. That right there is fundamentally different than just "buying used" like most people do.
In a nutshell hacking a car is buying a car using data to buy a great spec (not cheapest garbage on the market) and using the stack concept PJ referenced in the video to forecast the price of the car you're buying today 6-18 months out and buying the car ahead of that market and then exiting that car as it approaches the forecasted market, recouping your money (sometimes profiting, depends on what you buy and how much you drive) and rolling it into the next level car, or watch, or real estate or whatever asset and recycling the money (the wealth transfer concept he talks about in the video). At the end of the day you are driving a great spec for 6-18 months and recouping almost all of your money whereas normally people lose their ass.
You can also hack brand new cars but there's specific cases where it makes sense and the data used is different compared to a traditional hack.
Exotic Car Hacks is a finance course, not a car course.
@@MOHIMEDIALLC interesting. You are correct in that this is more than just buying used.
I would say this applies to those select guys who want to drive an exotic or high spec low volume vehicle and not lose money in the short term. A little bit of a gamble, but if (a big if) you know the market, then you do reduce your risk somewhat.
I guess the gamble now is that the supply will remain short on just about all vehicles, given the change in dealer inventory levels. It does appear that the new car market is on Flux, impacting used. How long this last is difficult to know, but maybe a few yrs.
Thanks for the reply.
@@rayF4rio not a gamble. Entirely data driven decisions. Car hacking worked 10 years before supply chain issues and will work after.
PJ has been telling people to buy 2013 SLS amgs for 2 years now (long discontinued nothing to do with today's supply chain) and those have gone from 160k to 320k+ since then. Same with 2006 Ford GT. 458 is also great for long term investment.
Great explanation 👌
So basically don’t lease that’s it.
Hey PJ what about insurance... it would be like $1000 a month for a super car...
He said in a video he pays $1100 a year for the McLaren seana
Call your insurance company, give them a VIN number for a super car (lots on autotrader) and get a quote and you'd be surprised
The insurance isnt much as you would think because people dont drive their exotics as much as a regular car so the risk is actually less for the insurance company
The formula for insurance isn't as straightforward as you think. One key factor is how often a vehicle is crashed...as you can imagine not too many exotic cars have been crashed compared to a toyota corolla which is crashed all the time through sheer volume. If you dig up PJs videos/posts about his insurance payment on his Ford GT or Senna or whatever, you'd probably get depressed because of how much lower it is than the payment for whatever you're driving currently lol. And this is Florida insurance which is top 5 most expensive state to insure.
@@MOHIMEDIALLC it was 900 a year for the senna I think, and 600 a year for the Ford GT
I find leasing stupid
😂
Lol bro just find someone who sells Primary tradelines or buy debt from a debt collector. You'll qualify for a any car 0 down.
Thank you