When will you guys have a sit down with him and do the Graham Stephan interview? Would be fun to see. You two seem to genuinely enjoy his content and you actually got me watching him now too.
The interest deduction on a vehicle used for business usually comes at the cost of not being able to deduct the mileage driven. The IRS usually gives you the option of interest deduction or $.56/mile driven deduction. Depending on how you use that vehicle, for example I drive as part of my LLC all the time and clock well over 20k miles a year, that’s a $10k business deduction. Far better then interest I pay on the car note.
Please DON’T. Money guys show is genuine, emulatable ideas. The other guy is ‘right thing-right place-good luck’. Come-on get serious and don’t get mislead.
YAY! Love that you’re doing reaction videos. Just a suggestion to hit pause on the video you’re watching when you make your comments and then restart the video (like Graham does on his reaction videos). It will be more clear and easier to understand what you’re saying. Just a suggestion. I ❤️ your channel!
I really appreciate your channel taking the good out of someone’s video and not dissecting it negatively just to prop up your own channel or view points…. I’m a fan. Thanks for great content!
Agreed. Reached a point where I can’t watch his stuff because it’s the same repetitive clickbait content over and over. Used to never miss a video of his.
@@kennycrump I still watch his stuff on occasion, but it's almost like he's running out of ideas, and has to put up "click baity" titles to get people to watch.
What a great crossover! I’ve been watching Graham Stephan for a year now and I just found you guys very recently. I love the advice both you guys and Graham give, I am trying my best to strategize and plan for my future as I just turned 22 (today actually).
I can see GS making a reaction video to this video. Then, you guys can react and then GS can react to reaction. It’ll be an endless monetization loop series. 😆
The way I look at it, is that if you already have the cash to buy the car outright, then financing is smart because you can put the money you would normally use to purchase the car in some index fund like the S&P 500 and get 10% growth on your money (Obviously you'll be selling some of your shares as you pay your loan off unless you're paying it with your income). Of course, you'll have to pay capital gains tax, so you'd have to take that into consideration. But even with the capital gains tax, you'll still be better off with the 10% growth rate while paying your 3.5% APR Interest. Of course, not everyone has $40,000 in cash to purcahse a car lying around.
I have a Tesla and going anywhere now-a-days does not give me range anxiety at all. Maybe in 2018 when I got mine, there was a little on a couple trips but nothing now.
Not to mention that one video likely paid for the entire purchase.. I agree with the others, The Money Guy team needs to be on The Iced Coffee Hour Podcast.
Instead of collabing with Graham y'all should just collab with his dad and see what Graham's reaction is LOL in all seriousness I watch both of y'alls channels and appreciate all of this great content!!!
Does buying a car for TH-cam content count as a business purchase? Say if someone wanted to become an influencer and they felt that a new car would bring more views, likes, etc. Does that count as “justification” for tax purposes? Genuinely interested because of all the haul, unboxing, and such type videos. I always wondered if those could be tax write offs.
I would have been harsher on that video title which was a blatant lie. Only considering the cost for the first year? Deducting a Tesla as a business expense? Come on now.
Exactly. "Clickbait" and all that is cute, but reality is it's a lie and dishonest and intentionally misleading. In YT world though, I guess that's admirable? Anything for views.
If audited I doubt if the IRS would allow a 100% deduction. The IRS has very strict rules on business use and record keeping. You need to write down the business use and the mileage of each business trip and you can either take $ .56 per mile or you can take actual costs and are allowed the proportion used for business. I very much doubt that he will be using the Tesla for 100% business.
I bought a Tacoma in 1999, I get 30mpg but I only drive about 20 miles a week so gas costs me about 20 dollars a month insurance costs me about 30 dollars a month and repairs and upkeep cost me about 10 dollars a month
If you actually had some money graham would be someone yoy would pay attention too. He went on full detail on how to save some money and even the money guy said that he wasn't wrong. So maybe you are just not ready for that yet.
Real question: why do people mount their microwaves? The wrist angle taking out a hot plate or bowl of something is risky and awkward. Oh yeah, and good video. Enjoyed very much despite the distraction of the mounted microwave.
While I realize this video is 4 months old, he also monetized the Tesla by making TH-cam video. This effectively made the cost 0, and is probably still paying him.
What does the number (112,000) represent at the top of their bookshelf? I tried to correlate it to subscribers, new subscribers, active listeners, etc. but have not been able to determine. Any insight would be appreciated. Thanks!
@Brien. I have the mid range and do not experience range anxiety. I mostly charge at home only. Although being in metro Atlanta area we have quite a few DCFC stations. May be Nashville does not have that many superchargers
Here is my question with the business expense. I have a corp job and do ubereats/doordash on the side... Would my car be considered part of my doordash business?
Graham probably has enough business expenses that he is able to itemize. Plus if this is a “business” expense, then it’s probably under his LLC or S-Corp or whatever he has set up.
@@badaceblackbelt I concur with your comment. I wish these "tax" deduction comments were caveated a bit more since I would venture to guess most Americans do not have enough itemized deductions to make this a factor in their personal calculus (i.e. most take the standard).
This financing seems weird to me. Reason being I'm pretty sure that Graham Stephens is better financially situated than I am but I bought a car 2 years ago with the same logic about getting financing to keep cash invested rather than sinking it into something that depreciates but I was able to get at zero down 72 month loan at 0.9% APR. 0.9% versus Graham's 3.75%. Not sure how that happened.
The EV tax credit is a non-refundable, use it or lose it, tax credit. Which means, to gain the full benefit of the EV tax credit at tax time, you must have the tax liability, rather, the income that you would owe, at minimum, income tax that is equal to or greater than the amount of the EV Tax credit. Otherwise, if you generally don't pay much income tax, you may not be able to take full advantage of the EV Tax credit. If your tax liability is $2,000, but the amount of the EV credit is worth $3,700, you'll only get to use $2,000 of the EV Credit. The remaining $1,700 of the credit is a wash and doesn't carry over to the following year.
If you finance a car with the 20/4/10 rule then most people in America will never be able to finance a car. On a bring home pay of $2,160 you could only use $216 TOTAL for anything vehicle related. So I guess buying used is better. Completely unfair, but still better.
I got 2.99% on my auto loan and I'm pretty sure Graham has a better credit score than me and definitely has a higher income, he needs to a credit union or something
Dear Money Guy's, this is actually a question I had even before watching this video. Why should I pay off a (not luxury at all!) car within 3 years instead of 48 or 72, if I could Invest the money I save monthly for the cheaper rates plus the money I did NOT put down into ETF/Index Funds with aprox. 8% ROI? And I am speaking of a second hand type of car like a fiat500 for 15-20k.
There are a few reasons, but the main one is to keep you honest. The further you spread out the loan, the more you will pay for the same product and the easier it is to justify spending more in the first place. Paying for it with cash will always be the best move, interest rates be damned, because it forces you to really take a sober look at what this thing costs and what your actual needs are. You WILL figure out how to get by with less. But I mean, sure, if you're actually going to execute this interest rate arbitrage scheme where you are essentially borrowing against your car so you can boost your investments in the stock market then there is a mathematical argument for it. I would counter that it comes with risk though, even assuming that you have the discipline to do it, and that the amount of money that you stand to gain even if the scheme works out is really just not that much. What if your investments don't return 8% over the period in question? What if the car gets totalled (or you want to sell it) and you have zero or even negative equity in it because you have it on a 72 month loan that didn't keep up with the depreciation? You might end up writing a check to pay off your negative equity, PLUS now needing to come up with a down payment for another car. It's just not worth it. A 20% down payment and 3 year loan period basically ensures you will have positive equity at all times, and also makes the initial purchase still hurt enough that you are more likely to make a responsible purchase that matches what you can actually afford. Their "20/3/8" guideline is the outer boundary of what they recommend if you MUST finance a car. It is not a recommendation in and of itself.
You can not write off the lease payment AND also depreciation on the same vehicle, so his numbers are inaccurate. I'm also a financial advisor, and attempted to try this for my vehicle myself and realized I made a boo boo. Hopefully he does too.
True he is only paying $78 in the first year. But there's one other aspect to his financial jujitsu. He turned it into content which means he probably made money on this purchase.
My first EV had an expected range of 76 miles, I got it to about 80-90 if I didn’t use the climate control that much. I went home with under 10 miles left regularly and a couple times with a reported 0 miles left. The entire time I had it I had range anxiety on a regular basis.
@D C yea, but I can keep going after the 15 miles are up because of the engine/generator, I would’ve been stranded if I ran out of mileage. I currently have a plug in hybrid that can get 17 miles on just electricity.
@D C yea, I think Tesla is getting close range wise when the range upgrades are bought, but that’s out of the price point of a lot of people. If they want people to use electricity to drive hybrids and plug in hybrids are probably a better option
Eh, it was pretty weak. Even if you allow for the obvious misrepresentation that he is only showing the year 1 expenses and they will balloon after that, this info is impractical for almost everyone. Very niche situation full of asterisks including you owning a business, traveling extensively for said business, and already owning and operating a different vehicle for your personal use. The way he did this requires you to exclusively use the Tesla for business purposes. Every time you run an errand with it you have to log that so you can recalculate everything come tax time, or else you're committing tax evasion. There is nothing wrong with detailing a niche situation, but the way this was presented is mega-clickbait and he does little to outline the perquisites and limitations of this approach. This is the 1 year incremental cost of purchasing a Tesla as a second vehicle for business use, offset by one-time use EV tax credits. I assume he was already claiming some business use on his original mixed use car as well that he will no longer be able to. So the monthly cost of the Tesla is low but the monthly cost of his primary vehicle will go up.
Graham's videos have misleading titles and are borderline click bait. Almost all his thumbnail pics seem like he has a bad headache and a real problem that doesn't exist. However he seems to have mastered the art of getting 3M subs and making a huge amount of money on youtube. The $78/month Tesla is an example of a misleading title. It only applies to the first year and isn't what he actually pays for it. Also note that 3.75% interest rate for 6 years was decent in 2019 but even then my credit union could beat that with a 2.5% rate for up to 84 months. I think Graham should pay off the Tesla in one lump sum since he makes so much money. Get rid of the debt on a depreciate purchase.
I agree 100%. I like Graham as a person, but most of his youtube videos are clickbait. TH-cam is how he makes most of his money. I hate how youtube's algorithm warps otherwise good people.
@@SuperGhettoBob I also think Graham has run out of topics and is just prolonging his demise on youtube. I've already known what Graham has taught about personal finance before Graham was born in 1990. LOL
@@ZXC_ZXC1 I defiantly think that financial youtubers / gurus run out of ideas. One of the best financial books out there is titled "The Index Card: Why Personal Finance Doesn't Have to Be Complicated" That was back in 2016, and neither author has written another book on personal finance. I also think he has a tendency to stretch a 30 second concept out over 10 minutes. It would be interesting if someone did an edit of Graham's videos and removed all the fluff and flexing how much actual content would be left.
I like your videos. Maybe consider better microphones. Crisp, bassy auto really changes the way you feel about a video (can feel the difference in Graham's audio)
Graham is the master of the TH-cam algorithm and use of click bate ish titles and thumbnails, but like you said he is very creative with them that I’m not even mad at them 😂
High Finance used maximum leverage, investing, business tax right off get it for zero. Premium EV depreciate at lower level Low Finance buy a $4k-12k ICE car in cash.
Check out all our Financial Advisors React videos here! th-cam.com/play/PLXo3w1shVdEU2mTqeQS8uCvWfWiuOPR2y.html
When will you guys have a sit down with him and do the Graham Stephan interview? Would be fun to see. You two seem to genuinely enjoy his content and you actually got me watching him now too.
Or have Graham get the Money Guys on the Iced Coffee Hour! I would watch that
I would love to watch either of these
coming next: Graham Stephan reacts to Financial advisors reacting to Graham Stephan's most popular video
The infinite monetisation loop 🔃
While in his Tesla*
Gotta have that Clickable Title and Algo
He would do this too 🤣
Woaaah trippy. I like it!
😂
The next video: graham reacts to being audited by the irs.
😂😂😂
lol they ain't worried about his 4k write off when he gives them millions a year already.
How have you guys not done a colab video WITH Graham yet? The TH-cam algorithm demands it.
i am a fan of both channels!
Same
Me too :)
The interest deduction on a vehicle used for business usually comes at the cost of not being able to deduct the mileage driven. The IRS usually gives you the option of interest deduction or $.56/mile driven deduction. Depending on how you use that vehicle, for example I drive as part of my LLC all the time and clock well over 20k miles a year, that’s a $10k business deduction. Far better then interest I pay on the car note.
You all need to collab with Graham! Maybe join the Iced Coffee Podcast Hour!
The car ended up being free multiple times over after making TH-cam videos about it
They totally do lol
Please DON’T. Money guys show is genuine, emulatable ideas. The other guy is ‘right thing-right place-good luck’. Come-on get serious and don’t get mislead.
YAY! Love that you’re doing reaction videos. Just a suggestion to hit pause on the video you’re watching when you make your comments and then restart the video (like Graham does on his reaction videos). It will be more clear and easier to understand what you’re saying. Just a suggestion. I ❤️ your channel!
I really appreciate your channel taking the good out of someone’s video and not dissecting it negatively just to prop up your own channel or view points…. I’m a fan. Thanks for great content!
Graham has become more click bait and less content lately.
Agreed. Reached a point where I can’t watch his stuff because it’s the same repetitive clickbait content over and over. Used to never miss a video of his.
Same! I feel like his channel changed when he moved to Nevada. Idk if it was just him getting bigger or the move, but I liked his old content more.
He still does a lot of research for each video. I do find myself watching him a bit less.
The _______ has flipped!!!
@@kennycrump I still watch his stuff on occasion, but it's almost like he's running out of ideas, and has to put up "click baity" titles to get people to watch.
He did a follow up video where the car essentially paid him with the amount of views and Adsense.
What a great crossover! I’ve been watching Graham Stephan for a year now and I just found you guys very recently. I love the advice both you guys and Graham give, I am trying my best to strategize and plan for my future as I just turned 22 (today actually).
Happy belated birthday! Honestly financial security is probably the best gift you can give yourself. Wishing you all the best!
I like how he just pretends to not know what Ligma means to save Brian's innocence
I like how you could also read it as li gma (little grandma)
@@JessicaO490Z don’t go bringing poor grandma into this
@@kanemeasham-pywell92 but but... D:
I can see GS making a reaction video to this video. Then, you guys can react and then GS can react to reaction. It’ll be an endless monetization loop series. 😆
Graham is great at click-ba... click-able titles😂😂😂
Too true!
Indeed.. but you csn learn from him as well.. its like 80% click bait.. 20% good information..
That intro/background music is 🔥
Fr, it makes the channel sound more up-to-date. Shoutout to the production team
I'm very interested to see this. I follow both channels
The way I look at it, is that if you already have the cash to buy the car outright, then financing is smart because you can put the money you would normally use to purchase the car in some index fund like the S&P 500 and get 10% growth on your money (Obviously you'll be selling some of your shares as you pay your loan off unless you're paying it with your income). Of course, you'll have to pay capital gains tax, so you'd have to take that into consideration. But even with the capital gains tax, you'll still be better off with the 10% growth rate while paying your 3.5% APR Interest. Of course, not everyone has $40,000 in cash to purcahse a car lying around.
Why take the leverage on the car then, you could just as well take the leverage on your index fund, likely with a much lower interest rate.
Just found your channel and enjoy your content. Subscribed.
I have a Tesla and going anywhere now-a-days does not give me range anxiety at all. Maybe in 2018 when I got mine, there was a little on a couple trips but nothing now.
Not to mention that one video likely paid for the entire purchase.. I agree with the others, The Money Guy team needs to be on The Iced Coffee Hour Podcast.
Instead of collabing with Graham y'all should just collab with his dad and see what Graham's reaction is LOL in all seriousness I watch both of y'alls channels and appreciate all of this great content!!!
Does buying a car for TH-cam content count as a business purchase? Say if someone wanted to become an influencer and they felt that a new car would bring more views, likes, etc. Does that count as “justification” for tax purposes? Genuinely interested because of all the haul, unboxing, and such type videos. I always wondered if those could be tax write offs.
I smashed the like button for the TH-cam algorithm
I can't believe I saw a ligma meme on this channel 😂🤣😂 I love you guys, bless your innocent hearts.
I would have been harsher on that video title which was a blatant lie. Only considering the cost for the first year? Deducting a Tesla as a business expense? Come on now.
Exactly. "Clickbait" and all that is cute, but reality is it's a lie and dishonest and intentionally misleading. In YT world though, I guess that's admirable? Anything for views.
If audited I doubt if the IRS would allow a 100% deduction. The IRS has very strict rules on business use and record keeping. You need to write down the business use and the mileage of each business trip and you can either take $ .56 per mile or you can take actual costs and are allowed the proportion used for business. I very much doubt that he will be using the Tesla for 100% business.
By making the vídeo, he's making bussiness, so he can do the write off, like when people deduct trips by making videos
Brian said payment should be no more than 8% of your take home gross. Can someone please define how to calculate my 'take home gross'?
I bought a Tacoma in 1999, I get 30mpg but I only drive about 20 miles a week so gas costs me about 20 dollars a month insurance costs me about 30 dollars a month and repairs and upkeep cost me about 10 dollars a month
I definatly want to show Graham's Dad things just as a confidence boost
I come to the Money Guy show for practical financial insights and to Graham’s channel for entertainment value.
If you actually had some money graham would be someone yoy would pay attention too. He went on full detail on how to save some money and even the money guy said that he wasn't wrong. So maybe you are just not ready for that yet.
Crazy how much interest rates have gone up since then. With a 780 score and 20% down, my rate on the car i just bought is 8.74%
That’s crazy… What car is that?
Real question: why do people mount their microwaves? The wrist angle taking out a hot plate or bowl of something is risky and awkward.
Oh yeah, and good video. Enjoyed very much despite the distraction of the mounted microwave.
His videos feel so click baity yet it’s decent advice
True
Great video.
I hadn't seen the original video and I would have felt a bit tricked because the $78 per month is only for the first year.
Love the Boba Fett mug!
what was the song used in the beginning of grahams video
LIGMA!!!!! HAHAHAHA..... no one on team googgled it??? and yall just kept it in there hahahahahah. That is the best part of this video!
they still havent caught on lmao!!!
He missed the fact that most power companies like So Cal Edison will give you $1,000 rebate as well when buying a new or used electric car.
While I realize this video is 4 months old, he also monetized the Tesla by making TH-cam video. This effectively made the cost 0, and is probably still paying him.
What does the number (112,000) represent at the top of their bookshelf? I tried to correlate it to subscribers, new subscribers, active listeners, etc. but have not been able to determine. Any insight would be appreciated. Thanks!
It is subscribers - we have had this in the hopper for a bit 😉👍
Little late but the song in the first few minutes is pavane for a dead prince and it’s a beautiful song nice toutch
@Brien. I have the mid range and do not experience range anxiety.
I mostly charge at home only.
Although being in metro Atlanta area we have quite a few DCFC stations. May be Nashville does not have that many superchargers
DCFC?
@@kaberle71 direct current fast charger
@@MatthewBennettFPV Thanks :)
Followed you both. Loved this one!
Here is my question with the business expense. I have a corp job and do ubereats/doordash on the side... Would my car be considered part of my doordash business?
You probably won’t be able to write it off but can take mileage
Isn't the tax savings a bit of a misnomer as you by default have a $12,400(single)/$24,800(married) standard tax deduction?
Graham probably has enough business expenses that he is able to itemize. Plus if this is a “business” expense, then it’s probably under his LLC or S-Corp or whatever he has set up.
@@badaceblackbelt I concur with your comment. I wish these "tax" deduction comments were caveated a bit more since I would venture to guess most Americans do not have enough itemized deductions to make this a factor in their personal calculus (i.e. most take the standard).
Did you all figure out if you caught ligma?
It would be awesome if he had you guys on the iced coffee hour.
This financing seems weird to me. Reason being I'm pretty sure that Graham Stephens is better financially situated than I am but I bought a car 2 years ago with the same logic about getting financing to keep cash invested rather than sinking it into something that depreciates but I was able to get at zero down 72 month loan at 0.9% APR. 0.9% versus Graham's 3.75%. Not sure how that happened.
The EV tax credit is a non-refundable, use it or lose it, tax credit. Which means, to gain the full benefit of the EV tax credit at tax time, you must have the tax liability, rather, the income that you would owe, at minimum, income tax that is equal to or greater than the amount of the EV Tax credit. Otherwise, if you generally don't pay much income tax, you may not be able to take full advantage of the EV Tax credit. If your tax liability is $2,000, but the amount of the EV credit is worth $3,700, you'll only get to use $2,000 of the EV Credit. The remaining $1,700 of the credit is a wash and doesn't carry over to the following year.
Good pod cast boys really enjoyed this review of graham stefan
Pretending not to know Ligma so you can keep it PG and generate more comments for the algorithm. 5Head strategy
If you finance a car with the 20/4/10 rule then most people in America will never be able to finance a car. On a bring home pay of $2,160 you could only use $216 TOTAL for anything vehicle related. So I guess buying used is better. Completely unfair, but still better.
Yeah you need to go on the iced coffee hour
I got 2.99% on my auto loan and I'm pretty sure Graham has a better credit score than me and definitely has a higher income, he needs to a credit union or something
Dear Money Guy's, this is actually a question I had even before watching this video. Why should I pay off a (not luxury at all!) car within 3 years instead of 48 or 72, if I could Invest the money I save monthly for the cheaper rates plus the money I did NOT put down into ETF/Index Funds with aprox. 8% ROI? And I am speaking of a second hand type of car like a fiat500 for 15-20k.
There are a few reasons, but the main one is to keep you honest. The further you spread out the loan, the more you will pay for the same product and the easier it is to justify spending more in the first place. Paying for it with cash will always be the best move, interest rates be damned, because it forces you to really take a sober look at what this thing costs and what your actual needs are. You WILL figure out how to get by with less.
But I mean, sure, if you're actually going to execute this interest rate arbitrage scheme where you are essentially borrowing against your car so you can boost your investments in the stock market then there is a mathematical argument for it. I would counter that it comes with risk though, even assuming that you have the discipline to do it, and that the amount of money that you stand to gain even if the scheme works out is really just not that much.
What if your investments don't return 8% over the period in question? What if the car gets totalled (or you want to sell it) and you have zero or even negative equity in it because you have it on a 72 month loan that didn't keep up with the depreciation? You might end up writing a check to pay off your negative equity, PLUS now needing to come up with a down payment for another car.
It's just not worth it. A 20% down payment and 3 year loan period basically ensures you will have positive equity at all times, and also makes the initial purchase still hurt enough that you are more likely to make a responsible purchase that matches what you can actually afford.
Their "20/3/8" guideline is the outer boundary of what they recommend if you MUST finance a car. It is not a recommendation in and of itself.
FYI, the "soothing" music is Erik Satie's Gymnopédie No. 1
my THREE favorite youtubers in one video; also happy birthday Bo!
You can not write off the lease payment AND also depreciation on the same vehicle, so his numbers are inaccurate. I'm also a financial advisor, and attempted to try this for my vehicle myself and realized I made a boo boo. Hopefully he does too.
He’s not leasing it though
To clarify that’s only for the first year though. The rest of the years is much higher.
You are part of the monetization circle. He creates a video, then you react to it, then he reacts to your reaction. Wait for it... Millennial Money
Gotta respect the game! Haha
I like the new intro!
Can we see a cash flow statement on this transaction?
True he is only paying $78 in the first year. But there's one other aspect to his financial jujitsu. He turned it into content which means he probably made money on this purchase.
Love these videos, but you really need to pause the videos when commenting on them. I couldn't hear you or Graham when you were both talking :)
You guys need to get on to the Iced Coffee Hour
I need a man like Graham :)
You should put confronting Graham Stephen on his most viewed video. Would get more clicks 🙂
I’d love to see a reaction video for meet Kevin’s videos
My first EV had an expected range of 76 miles, I got it to about 80-90 if I didn’t use the climate control that much. I went home with under 10 miles left regularly and a couple times with a reported 0 miles left. The entire time I had it I had range anxiety on a regular basis.
@D C yea, but I can keep going after the 15 miles are up because of the engine/generator, I would’ve been stranded if I ran out of mileage. I currently have a plug in hybrid that can get 17 miles on just electricity.
@D C yea, I think Tesla is getting close range wise when the range upgrades are bought, but that’s out of the price point of a lot of people. If they want people to use electricity to drive hybrids and plug in hybrids are probably a better option
Graham with the ligma play 🔥
You'd struggle to find margin loans with a rate that low
I love Graham’s dad.
Hey Graham, where you at?!
To be honest, I'm kinda shocked a new Telsa is only $35,000
Eh, it was pretty weak. Even if you allow for the obvious misrepresentation that he is only showing the year 1 expenses and they will balloon after that, this info is impractical for almost everyone. Very niche situation full of asterisks including you owning a business, traveling extensively for said business, and already owning and operating a different vehicle for your personal use.
The way he did this requires you to exclusively use the Tesla for business purposes. Every time you run an errand with it you have to log that so you can recalculate everything come tax time, or else you're committing tax evasion.
There is nothing wrong with detailing a niche situation, but the way this was presented is mega-clickbait and he does little to outline the perquisites and limitations of this approach. This is the 1 year incremental cost of purchasing a Tesla as a second vehicle for business use, offset by one-time use EV tax credits. I assume he was already claiming some business use on his original mixed use car as well that he will no longer be able to. So the monthly cost of the Tesla is low but the monthly cost of his primary vehicle will go up.
Graham’s Tesla looks like it has a lot of Suggon
Graham's videos have misleading titles and are borderline click bait. Almost all his thumbnail pics seem like he has a bad headache and a real problem that doesn't exist. However he seems to have mastered the art of getting 3M subs and making a huge amount of money on youtube. The $78/month Tesla is an example of a misleading title. It only applies to the first year and isn't what he actually pays for it. Also note that 3.75% interest rate for 6 years was decent in 2019 but even then my credit union could beat that with a 2.5% rate for up to 84 months. I think Graham should pay off the Tesla in one lump sum since he makes so much money. Get rid of the debt on a depreciate purchase.
I agree 100%. I like Graham as a person, but most of his youtube videos are clickbait. TH-cam is how he makes most of his money. I hate how youtube's algorithm warps otherwise good people.
@@SuperGhettoBob I also think Graham has run out of topics and is just prolonging his demise on youtube. I've already known what Graham has taught about personal finance before Graham was born in 1990. LOL
@@ZXC_ZXC1 I defiantly think that financial youtubers / gurus run out of ideas. One of the best financial books out there is titled "The Index Card: Why Personal Finance Doesn't Have to Be Complicated" That was back in 2016, and neither author has written another book on personal finance. I also think he has a tendency to stretch a 30 second concept out over 10 minutes. It would be interesting if someone did an edit of Graham's videos and removed all the fluff and flexing how much actual content would be left.
I had to watch this after seeing the thumbnail
Your clock is wrong! :(
A really generic 4 door golf cart described as incredible. The reality of lowered expectations.
I need a car to get to work, but the IRS would never let me deduct that...such bs.
You should watch his later video where he explains how much $$$ he had made from buying the car.
Yes! I love that video.
They didn't even mention that with the money Graham made from his Tesla video it's basically like it came out $0/mo
I like your videos. Maybe consider better microphones. Crisp, bassy auto really changes the way you feel about a video (can feel the difference in Graham's audio)
His dad is the best!
Did they really not know what ligma is or was that a joke??😂
So, "click bait" is now "Clickable" - What's the point? - Nice video though. Enjoyed...
Graham is the master of the TH-cam algorithm and use of click bate ish titles and thumbnails, but like you said he is very creative with them that I’m not even mad at them 😂
Iced coffee podcast x you guys xD
It gets you a great car and a guaranteed audit by the IRS.
By the way the visit to dad is hardly business related.
I spend 11,000 on gas a year self employed. Thats running on less than half a tank a day. Give me a tesla 😭
gram dumped tsla at 150$….
Pretty sure that because of the TH-cam video, Graham isn't even paying one cent a month. Do need some bankroll coffee?
I'll never understand why people drool over Teslas so much.
Jack you better reply to this comment
YOU 👏🏻 NEED 👏🏻 TO 👏🏻 COLLAB 👏🏻 WITH 👏🏻 HIM 👏🏻!!!!!😍
Moneyguys fishing for a reaction-to-a-reaction video :P
High Finance used maximum leverage, investing, business tax right off get it for zero. Premium EV depreciate at lower level
Low Finance buy a $4k-12k ICE car in cash.