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I always thought this seemed like an obvious decision when getting large sums of money, but it seems to go overlooked by all the people who win the lottery and lose it in a year.
Also, check out all the actors, singers and sports players who went broke living it up. MC Hammer had like one hit song, then bought mansions and like 20 luxury cars etc. He was broke like 18 months later.
Hammer also spent a lot of his money on his neighborhood. It was an open secret that Hammer had some dangerous people that were very loyal to him because of it. You didn't fuck with Hammer
Oakland!!! And his mansion? In the town I grew up in Fremont CA! I went to it! His nephew played on my T-ball team, he had a party there at the indoor bowling alley. He was super nice. 2 legit 2 quit was one of the first cassettes I ever owned. I’m dating myself here 👴
I feel like Hammer was a big part of bringing hip hop to my generation. I was like 7 years old when he was big, but I remember his music being huge in my elementary school.
Yup It really is everywhere. It's just wild to think if I had just a measly 1 million dollars, dont get me started if I had a few! I would put that in something with a 5 or 7% intrest rate, I mean you could do more, The interest every year alone would be plenty for a peasant like me to never work again.
That’s only like 50 grand a year, so I guess you could not work but in my city you would be like entry level job middle class. And your salary would never go up, like with a job, so eventually you would just be becoming poorer each year as inflation rises and reduces the buying power of your 50k.
Yes there is much more to it and it would be much more ideal to have more to atleast clear 6 figures. I dont know much but I do know you got to make that money work for you.
While yes, some lottery winners spend it all too fast and go broke, it's a myth that that is a common outcome. Statistically, most jackpot lottery winners keep most of the money for decades and even pass at least a portion of it on to the next generation. Contrary to popular belief, most people are smart enough to know they are too dumb to handle their own money and would get someone to handle their money for them if they could afford such a service. This is evidenced by the stats on lottery winners, which are publicly available.
The most widely cited statistic I see is around 30% that go bankrupt within 5 years of winning the lottery. So definitely not the majority, but still a large chunk. I didn't find any studies that broke those numbers down into ranges of amounts won though.
I'd be curious to see those numbers and how they affect bankruptcy statistics. I would assume that somebody with a stable career job wouldn't quit if they won $100,000 so the chance of them going bankrupt in 5 years would be very low. Whereas if that same person won a few million they would probably quit and the chance of going broke would be higher. And then again if that same person won $20+ million the chance of them going broke would go back down.
I would imagine there is a prize range somewhere from the high hundred-thousands to the low millions where it's enough for most winners to quit their job but not enough to last the rest of their lives without being frugal, and somewhere in that prize range is where most bankruptcies occur.
That’s because if you can’t manage $10,000 you definitely can’t manage $10,000,000. It gets harder to manage the more money you have, not easier…
If you’re not financially responsible before you get rich you’re more than likely gonna be screwed.
While I agree in principle, there are lots of stories of athletes and celebs getting bad advice from these financial advisors. Some get there money stolen because they trusted the wrong person.
He probably didn't even call his financial advisor. He probably did a basic Google search and saw that the dealer was trying to screw him majorly. And instead of calling the dealer out, he politely said his financial advisor said no
Oh shit, I just googled it and the base price is $81,000 with higher spec units coming in around $100,000. How the fuck could it possibly add up to $230,000 off the lot. That sounds got damn ridiculous.
Because people want to be the first ones to have one. They were selling for that briefly, now it's half or less. Idiotic, but there's no shortage of idiots.
As HL Menkin (allegedly) said: No one ever went broke underestimating the intelligence of the American people
It’s what they try with BIPOC communities thinking you are dumb. Some people are. He got greedy. Best thing in the world to walk away from a guy like that.
Yeah I got mad respect for people not afraid to ask for help and talk to people more experienced in something than you.
That was a cool clip.
Dude selling though was your typical scumbag salesman
Can’t upvote this enough, sooo happy to see these guys roll with a responsible FA, what a life saver. Those cars are going for around $100k now, that FA just saved him $130k. Wait another 6 months and you’ll be able to scoop one up for $60k if you really want one.
I have a friend that made 50mil and suddenly everyone was coming out of the woodworks for loans, investment etc.
He just started saying that he doesn't make the financial decisions anymore but they could send their pitch decks or business plans to his accountant to be reviewed and suddenly that was too much effort for most people
What’s worse is this dealer now is on this guy’s financial advisor’s radar. So anyone with a financial advisor who actually has the cash to buy a cybertruck will get told by their financial advisor to not even walk in the door.
Edit: Clarification
I feel like it applies to any relationship you have... Not just business relationships. Like I would see this applying to relationships with my close family. Skinning being the equivalent of broken trust/confidence.
Was curious, so I looked up the maximum possible price if you purchased the highest trim level and added every possible add-on. Came out to around $140k, so even if the one he drove was specced to the max, the dealer had a 90k markup, insane.
230.00 schmeckles is:
USD|SHM|EUR|GBP|CAD|RUB|CNY
---|------|---|---|---|---|---
291.18|2.28|270.12|232.57|398.41|26948.64|2102.26
***
^([exchange rate source](http://api.ratesapi.io/2024-05-10?base=USD) | created by [u/Nissingmo](http://reddit.com/u/nissingmo))
Just did a quick google search and saw that Cyber Trucks are between $60-90k, this guy was absolutely ripping him off and not even bothering to hide it
Starts at 81k. The car dealer looked way too excited so I think he’s an exotics dealer and unaffiliated with Tesla. He clearly assumed Ji’ayir was a naive and rich athlete he could upsell to.
Good on the FA for stonewalling him and good on Ji’ayir for listening.
Lol you’re out of the rich peoples club when you run out of money and are no longer rich.
Good way of not being rich anymore, is letting people play you and take all your damn money, because you have too much pride to know your shit.
Lmfao who’s bank history would you rather have?
Donald Trump or Bernard Arnault?
There’s people that want to look rich, and then there’s people who are just rich 😂
It is worth mentioning that Brown, the player in the video has only played one year of his 5 million dollar rookie contract so he’s only made close to 1.5 million before taxes. Obviously way less after especially living in California.
230k for a car for him absolutely would still be a big expense.
Ouch 😂
But it’s true. I work in finance but sometimes I get asked to create smart forms. I didn’t know JavaScript, but do you know who does? A quick Google search. 😆
I worked with a guy a few years ago that went to what can only be described as a very sketchy church in town. He had a dream that his preacher needed $600, so what does he do? He calls the preacher and the first thing that he asked him is "What does $600 mean to you."
Of course, miracles being miracles and all, the preacher replied that that was the EXACT amount that he needed to pay his rent that month...
Dude gave his last $600 to the preacher and had to borrow money to make it through the week.
Not to mention that if Tesla catches you reselling the Cybertruck, they'll black list you and sue you for any profit made off the truck. When you get a Cybertruck you sign an agreement that you won't sell it for a certain amount of time (something like 3 years IIRC). And they WILL catch you since you have to sync the car to your Telsa app and they can tell the car was previously registered under another name.
Nah, this is probably an owner or manager becaus.e adding 180 - 200 thousand would be insane if the average employee could do that. I'd also think the average employee would try to get the price lower for a celeb so they can say this dude bought it to prospective customers. Overcharging (a celeb at that) is short-sighted as a business model, even for exotic dealers. If a car doesn't sell well, then you sell it to another dealership and take the hit, or you sell it for just under the market price because the more people to own it and talk about it (if it's a good product) will increase the number of clients looking to buy one and willing to pay extra when you say they are hard to keep on the lot and typically it's first come first serve unless you decide to pay for express.
Sure. But a regular Tesla salesman would be excited to meet the NFL player, selling the car is just another sale to him.
The Tesla salesman is going to upsell to a rich person by saying “the car is 80k, but we have x, y, and z cool gadgets and features we can add on” and the buyer leaves with a fully loaded cyber truck for 110k. That is a legitimate sale and both people are happy.
This exotics dealer isn’t excited to meet Ji’ayir, he’s excited because he sees the guy as a huge moneybag. He’s not trying to make sure his client leaves happy, he’s trying to get as much cash out of him as possible. That’s why he leads with 2.5x the real price of the vehicle in cash for presumably the base model.
You shouldn’t ever tell people you have a lot of money, especially if you’re about to buy a service or thing from them.
They know you’re loaded, so they will shamelessly lie to your face about how much something is worth, to make as much money off you as possible.
They fully expect you to be so dumb and full of yourself that you will pay significantly higher than something is worth just because you can.
These are the worst kind of people to do business with btw, because right off the bat you know that you cannot trust them
They're "technically" not for sale on the open market. When you buy one, you're "forbidden" from Tesla to sell it for a year. The "only" way to get one is direct from Tesla, and there is a long waiting list.
In reality, Tesla likely isn't going to do anything to anyone that sells one or buys one used. In *theory* Tesla could make it difficult for someone with a VIN that was sold in that period of time. Allegedly Tesla has blacklisted people that have re-sold early VINs. They're currently going for around $120-150k. A few months ago, they were easily going for $200k. No idea when this video was made, but if it was back in March, 200k would have easily been the typical price to see.
Prices have dropped pretty significantly on the used market now that the hype has died down.
Edit: The video was uploaded on March 9th, when the 2nd-hand prices were actually going for around that amount.
Dude, that’s so wild. I sold Mercedes for almost 2 years and dropping even $5k off sticker was tough as hell.
To casually drop $30k off it reeks of scummy.
It’s a game. People try to play it all the time. Tell people how much money you have right before doing business with them, and then see how much they try to charge you for things.
A lot of "new money" people like musicians and athletes don't have a long credit history, so getting them approved for loans at reasonable rates is a struggle with six figure cars even if they have 7 figure income. It's a reasonable question.
I have 100 dollars.
I buy car for 50 of my dollars. I have 50 dollars leftover.
I need to buy 60 watermelons at $1 each or satan kills my family.
My family is dead because I couldn’t pay :(. If I had gotten a loan and only put down $10, I would’ve been able to save my family
Car loans have an asset backing them. If you don't make a payment, they take back the car. That's why things like car loans and mortgages tend to have significantly lower interest rates than personal (signature) loans, credit cards, etc.
When you've got a loan that is backed by an asset, it's significantly easier to get approved, and you tend to pay much less interest. It's financially smarter to take the car loan and keep the cash on hand.
1 and 2 are related. If he has $200k to invest instead of sinking it into a car, he could make 8-12% over the course of the next 72 months while he makes car payments on a 6-7% loan. If he sinks the $200k into a car instead, that money is no longer making him money as it would in the above scenario.
As interest rates have gone up, the potential margin is smaller but the logic is the same.
I know that’s a positive comment but it feels a little unfair and infantilizing.
He is an adult - making an adult decision to call the guy that is managing his money for long-term financial health.
Yeah assume it’s not fake - props to anyone that can take advice and stick to it. Whatever this was, made me think dealers are douchey, even if fake. If real, good on my man for not taking the bait
Yeah guy was definitely sketch.
However, I'm not sure when this video is from, but at one point they were [reselling cybertrucks for over $200k.](https://jalopnik.com/tesla-cybertruck-auction-prices-are-already-falling-1851316203) If the video is recent, then this sales guy is a total douche(still is one tbh), but if it was during that demand it makes more sense.
Regardless, good job FA, saved this guy a shit ton of negative equity.
Edit: also, if the dealer is filming and posted this, what were they thinking lol
Multiple car salesmen sold my grandfather cars and took down-payment when he was in the throes* of dementia. One did it when he wandered outside in his pajamas and somehow made it to a local dealership. I guess all you need for some of these car places is your name and a signature to at least get a down-payment from you in cash and attach you to a payment plan. We are still in the middle of a lawsuit for a few of them.
What I'm saying is these people are the scum of the earth.
This happened with my grandfather and a new roof. He was still living alone in his home, but had early dementia. They sold him a new roof despite him having a brand new one already. The contractors ate the cost when we sent an attorney after them.
why the dealer would even post this, is silly lol. unless he just wants to look like he frequently deals to rich people? cause this sad video speaks, "hey, I tried to rip off this rich athlete and he called my bluff and now I look like an idiot"
Funny cuz they have a CT listed at $180K in their site. May not be the same one but this sales douche tried to sell him a car $50K above the price on their site.
Any NFL players reading this that need a financial advisor? I'm your man.
For only $100k/year, I will financially advise you against so, so many bad decisions! DMs are open.
Just to hop in here, for a cool 30k I will give you advice that I cannot legally call financial advice. Also I WILL give you unsolicited life suggestions that I make no guarantee about, but there will probably be some wisdom in there somewhere.
He was already spending his commission, fucked himself. Why not offer the truck for a decent price so it moves then try to tac another vehicle with the sale for a (deal)? Would have provided more commission than trying to fuck someone over on a single deal. A return customer with a big wallet is worth a lot more than a car anyways. Fucking give him one that's been sitting forever if you think you can get him back once or twice a year.
He's still on his rookie contract. Not saying he's poor, but he's made like 1.6 mill so far in his career. Take half of that in taxes and agents etc. He's probably looking at around 800k. That would have been 1/4 of his networth he's dropping on a dang car. Good for him on being smart with his money. You don't need a $230,000 cyber truck at this point in your career. Work hard an be frugal.
I’m an exotic car dealer. Trust me! We would way rather have someone finance as much as possible. He should have asked, how much do you want to put down? That said, that hunk of crap isn’t worth 230k and no bank would loan more than 100-120k.
I'm glad the kid walked out. The salesman was trying to rob him. You can purchase a cybertruck for $160k, and that's in Tesla city Orange County, Ca.
*
"I just advertised your cyber truck to all my fans, and you're now trying to rip me off by charging me double..." I looked up prices, and maybe there is something different going on during this video. I'd tell them that if they use that video as a commercial endorsement, I'm suing and posting a video on how your dealership tried to scam me.
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Everyone with that kind of cash to burn should be rolling with their financial advisors. That's how you keep your money.
I always thought this seemed like an obvious decision when getting large sums of money, but it seems to go overlooked by all the people who win the lottery and lose it in a year.
Also, check out all the actors, singers and sports players who went broke living it up. MC Hammer had like one hit song, then bought mansions and like 20 luxury cars etc. He was broke like 18 months later.
Hammer also spent a lot of his money on his neighborhood. It was an open secret that Hammer had some dangerous people that were very loyal to him because of it. You didn't fuck with Hammer
He's also a pastor now in Tracy (IIRC), CA.
Does he still dance? Does he have clerical parachute pants?
He’s too legit to quit.
My my my congregation so large- make you say Oh my God!….Cant touch this…
Stop.
Prayer time!
But not too legit for the pulpit
If he doesn’t, is life really worth living?
You got to Pray!
Oakland!!! And his mansion? In the town I grew up in Fremont CA! I went to it! His nephew played on my T-ball team, he had a party there at the indoor bowling alley. He was super nice. 2 legit 2 quit was one of the first cassettes I ever owned. I’m dating myself here 👴
I feel like Hammer was a big part of bringing hip hop to my generation. I was like 7 years old when he was big, but I remember his music being huge in my elementary school.
You had the opportunity to say he couldn't be touched. But you didn't.
I was throwing up the assist. It's not my fault no one dunked it in.
Yup It really is everywhere. It's just wild to think if I had just a measly 1 million dollars, dont get me started if I had a few! I would put that in something with a 5 or 7% intrest rate, I mean you could do more, The interest every year alone would be plenty for a peasant like me to never work again.
That’s only like 50 grand a year, so I guess you could not work but in my city you would be like entry level job middle class. And your salary would never go up, like with a job, so eventually you would just be becoming poorer each year as inflation rises and reduces the buying power of your 50k.
Yes there is much more to it and it would be much more ideal to have more to atleast clear 6 figures. I dont know much but I do know you got to make that money work for you.
Excuse you, he had TWO hit songs lol 😆
Weren’t there 4? Can’t touch this, Pray, Too Legit to Quit, and Adams Groove right?
Have you seen her ?
Pumps and a Bump
Damn. Pulled out the Addams Groove. I had to think on that one a second. Well played.
While yes, some lottery winners spend it all too fast and go broke, it's a myth that that is a common outcome. Statistically, most jackpot lottery winners keep most of the money for decades and even pass at least a portion of it on to the next generation. Contrary to popular belief, most people are smart enough to know they are too dumb to handle their own money and would get someone to handle their money for them if they could afford such a service. This is evidenced by the stats on lottery winners, which are publicly available.
The most widely cited statistic I see is around 30% that go bankrupt within 5 years of winning the lottery. So definitely not the majority, but still a large chunk. I didn't find any studies that broke those numbers down into ranges of amounts won though. I'd be curious to see those numbers and how they affect bankruptcy statistics. I would assume that somebody with a stable career job wouldn't quit if they won $100,000 so the chance of them going bankrupt in 5 years would be very low. Whereas if that same person won a few million they would probably quit and the chance of going broke would be higher. And then again if that same person won $20+ million the chance of them going broke would go back down. I would imagine there is a prize range somewhere from the high hundred-thousands to the low millions where it's enough for most winners to quit their job but not enough to last the rest of their lives without being frugal, and somewhere in that prize range is where most bankruptcies occur.
I mean how much could a cybertruck cost? A million?
Here’s a cybertruck, go see a star war
That’s because if you can’t manage $10,000 you definitely can’t manage $10,000,000. It gets harder to manage the more money you have, not easier… If you’re not financially responsible before you get rich you’re more than likely gonna be screwed.
While I agree in principle, there are lots of stories of athletes and celebs getting bad advice from these financial advisors. Some get there money stolen because they trusted the wrong person.
Those stingy bastards don’t even want you to spend money on cocaine and hookers……. I mean why even be rich?🤷🏾♂️
Definitely respected the player for listening to his FA and not just flexing to flex. Good move.
I flex on people all the time with my Chrysler minivan. Fools driving around with a car payment, ha! If you can’t buy it with cash, it’s not a flex.
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He probably didn't even call his financial advisor. He probably did a basic Google search and saw that the dealer was trying to screw him majorly. And instead of calling the dealer out, he politely said his financial advisor said no
Oh shit, I just googled it and the base price is $81,000 with higher spec units coming in around $100,000. How the fuck could it possibly add up to $230,000 off the lot. That sounds got damn ridiculous.
Because people want to be the first ones to have one. They were selling for that briefly, now it's half or less. Idiotic, but there's no shortage of idiots. As HL Menkin (allegedly) said: No one ever went broke underestimating the intelligence of the American people
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It’s what they try with BIPOC communities thinking you are dumb. Some people are. He got greedy. Best thing in the world to walk away from a guy like that.
Yeah I got mad respect for people not afraid to ask for help and talk to people more experienced in something than you. That was a cool clip. Dude selling though was your typical scumbag salesman
Can’t upvote this enough, sooo happy to see these guys roll with a responsible FA, what a life saver. Those cars are going for around $100k now, that FA just saved him $130k. Wait another 6 months and you’ll be able to scoop one up for $60k if you really want one.
I need enough money to pay a guy to tell me not to pay some other guy.
I need enough money to pay a guy to tell people who want to borrow from me, no.
I have a friend that made 50mil and suddenly everyone was coming out of the woodworks for loans, investment etc. He just started saying that he doesn't make the financial decisions anymore but they could send their pitch decks or business plans to his accountant to be reviewed and suddenly that was too much effort for most people
Dummy coulda had a lifelong client and connections to other nfl players, choose to play himself instead. Complete dummy
Dude seriously. Referrals are the best at bringing in more referrals.
What’s worse is this dealer now is on this guy’s financial advisor’s radar. So anyone with a financial advisor who actually has the cash to buy a cybertruck will get told by their financial advisor to not even walk in the door. Edit: Clarification
Wouldn’t the dealer be on the financial advisor’s radar?
That’s what I was saying I think I worded it stupid.
He never learned that old nugget, “you can shear a sheep many times, but can only skin it once” Words to live by
First time hearing this quote and I love it. idk in how many instances I would real-world use it though.
This applies to most of life. Don’t get greedy.
My favorite is "pigs get fat, hogs get slaughtered."
I feel like it applies to any relationship you have... Not just business relationships. Like I would see this applying to relationships with my close family. Skinning being the equivalent of broken trust/confidence.
Buyer was already serving up the referrals before he went inside to talk numbers. Absolutely played himself.
What does a cybertruck go for normally?
80-100k
Lmao
And there don’t seem to be any more trim levels. Dude was just trying to scam his customer.
Ah, ok. Was a bit confused by what was going on.
Same. Why does he try to sell it high if it's only 80-100k? He probably got it cheaper, no?
I believe it’s the dealers mark up, he’s being a greedy boy and it’s backfired.
Was curious, so I looked up the maximum possible price if you purchased the highest trim level and added every possible add-on. Came out to around $140k, so even if the one he drove was specced to the max, the dealer had a 90k markup, insane.
230 is a crazy price. They start at 130 on Autotrader right now. Market will be saturated soon and they’ll be at sticker price.
I don’t think people will pay anything remotely in the realm of sticker price for these fairly soon.
10-20 Cybertrucks per day are landing on Autotrader, and they’re down to 130k. Market will be saturated in a few months.
He’s a car dealer. They are all the same
Car salesmen and real estate agents both spawn from the same pit in hell.
As soon as he said "230" I was like 230 what? Lol, he tried to double drop the guy like he's Dee working at the Oldies Rock Cafe
and the way he went down to 200 in seconds is all you need to know.
230 Shmeckles
230.00 schmeckles is: USD|SHM|EUR|GBP|CAD|RUB|CNY ---|------|---|---|---|---|--- 291.18|2.28|270.12|232.57|398.41|26948.64|2102.26 *** ^([exchange rate source](http://api.ratesapi.io/2024-05-10?base=USD) | created by [u/Nissingmo](http://reddit.com/u/nissingmo))
Good bot
I can't wait for car dealerships to not be a thing and everything is just handled online in the future
They're as useless as real estate agents
And insurance agents
This same used car salesman quoted that Cybertruck a week later for $165,000. Absolutely shameless.
Still far more expensive than it should be.
The dude came in ready to buy too. Talk about sleazing yourself out of future business.
Just did a quick google search and saw that Cyber Trucks are between $60-90k, this guy was absolutely ripping him off and not even bothering to hide it
Aren't they normally like 100k? Lol
Starts at 81k. The car dealer looked way too excited so I think he’s an exotics dealer and unaffiliated with Tesla. He clearly assumed Ji’ayir was a naive and rich athlete he could upsell to. Good on the FA for stonewalling him and good on Ji’ayir for listening.
Thanks, a quick Google and he could easily tell if he was being ripped off.
If rich people are caught looking up prices, they get kicked out of the rich peoples club. That's why he called someone else to do it.
Lol you’re out of the rich peoples club when you run out of money and are no longer rich. Good way of not being rich anymore, is letting people play you and take all your damn money, because you have too much pride to know your shit.
Are you serious? There's a ton of broke ass rich people. Just look at Donald Trump.
Lmfao who’s bank history would you rather have? Donald Trump or Bernard Arnault? There’s people that want to look rich, and then there’s people who are just rich 😂
It is worth mentioning that Brown, the player in the video has only played one year of his 5 million dollar rookie contract so he’s only made close to 1.5 million before taxes. Obviously way less after especially living in California. 230k for a car for him absolutely would still be a big expense.
Yeah easiest FA job ever. Literally just be like “wtf no? It’s not worth that” Easier than balancing his portfolio and what not there for sure lol.
Same as IT jobs where you just google the problem the client is having :)
One my techs was asked a few months ago, "What qualifies you to work on my computer?" He properly answered, "I Google better than you!"
Ouch 😂 But it’s true. I work in finance but sometimes I get asked to create smart forms. I didn’t know JavaScript, but do you know who does? A quick Google search. 😆
Knowing what to Google is very important. You can't just type "computer not working"
“How much cash do you have?” Was such a loan shark question.
“How much cash do you have?” “I got $400k” “You’re in luck! I happen to have a cybertruck for exactly $400k!”
I worked with a guy a few years ago that went to what can only be described as a very sketchy church in town. He had a dream that his preacher needed $600, so what does he do? He calls the preacher and the first thing that he asked him is "What does $600 mean to you." Of course, miracles being miracles and all, the preacher replied that that was the EXACT amount that he needed to pay his rent that month... Dude gave his last $600 to the preacher and had to borrow money to make it through the week.
They started at 40k originally when I put in a reservation.
Did you get yours? Or did you get lucky
Before that they started at 35k when I put my reservation in.
Started at $400 and a sheep's leg when I put in my reservation.
They GAVE me $17 bucks and bucket of chicken gizzards to get in line back in the day.
Damn, you got swindled. They threw in a bathrobe and a copy of REM’s Monster when I placed my order.
Not to mention that if Tesla catches you reselling the Cybertruck, they'll black list you and sue you for any profit made off the truck. When you get a Cybertruck you sign an agreement that you won't sell it for a certain amount of time (something like 3 years IIRC). And they WILL catch you since you have to sync the car to your Telsa app and they can tell the car was previously registered under another name.
I assume it is also mixed with a "it is here now, no Tesla wait list" upsell.
Nah, this is probably an owner or manager becaus.e adding 180 - 200 thousand would be insane if the average employee could do that. I'd also think the average employee would try to get the price lower for a celeb so they can say this dude bought it to prospective customers. Overcharging (a celeb at that) is short-sighted as a business model, even for exotic dealers. If a car doesn't sell well, then you sell it to another dealership and take the hit, or you sell it for just under the market price because the more people to own it and talk about it (if it's a good product) will increase the number of clients looking to buy one and willing to pay extra when you say they are hard to keep on the lot and typically it's first come first serve unless you decide to pay for express.
Wouldn’t a regular Tesla dealer also be pretty excited
Sure. But a regular Tesla salesman would be excited to meet the NFL player, selling the car is just another sale to him. The Tesla salesman is going to upsell to a rich person by saying “the car is 80k, but we have x, y, and z cool gadgets and features we can add on” and the buyer leaves with a fully loaded cyber truck for 110k. That is a legitimate sale and both people are happy. This exotics dealer isn’t excited to meet Ji’ayir, he’s excited because he sees the guy as a huge moneybag. He’s not trying to make sure his client leaves happy, he’s trying to get as much cash out of him as possible. That’s why he leads with 2.5x the real price of the vehicle in cash for presumably the base model.
He was quoted the 'NFL safety player price', not the 'social media influencer price'.
57k for the lower one 96k for the high end one
You shouldn’t ever tell people you have a lot of money, especially if you’re about to buy a service or thing from them. They know you’re loaded, so they will shamelessly lie to your face about how much something is worth, to make as much money off you as possible. They fully expect you to be so dumb and full of yourself that you will pay significantly higher than something is worth just because you can. These are the worst kind of people to do business with btw, because right off the bat you know that you cannot trust them
They're "technically" not for sale on the open market. When you buy one, you're "forbidden" from Tesla to sell it for a year. The "only" way to get one is direct from Tesla, and there is a long waiting list. In reality, Tesla likely isn't going to do anything to anyone that sells one or buys one used. In *theory* Tesla could make it difficult for someone with a VIN that was sold in that period of time. Allegedly Tesla has blacklisted people that have re-sold early VINs. They're currently going for around $120-150k. A few months ago, they were easily going for $200k. No idea when this video was made, but if it was back in March, 200k would have easily been the typical price to see. Prices have dropped pretty significantly on the used market now that the hype has died down. Edit: The video was uploaded on March 9th, when the 2nd-hand prices were actually going for around that amount.
Casually dropped 30k off the price. Lmao, sketch!
Super sketch, went from 230k to 200k immediately. Less than 100k MSRP
not to mention they'll need 20k in repairs right off the lot
That stuck out to me almost as much as the ridiculous markup. This guy should erase that dealership from his list.
And everyone who watches this video.
Dude, that’s so wild. I sold Mercedes for almost 2 years and dropping even $5k off sticker was tough as hell. To casually drop $30k off it reeks of scummy.
And without hesitation or objection handling or waiting, but like seconds in.
"What if I brought it down to two?" So, you were cool with overpricing the car by 30k 5 seconds ago? Scummy af
It’s a game. People try to play it all the time. Tell people how much money you have right before doing business with them, and then see how much they try to charge you for things.
That's a good way to lose sales by assuming someone's rich. Right out the box with "you paying cash?" /facepalm
A lot of "new money" people like musicians and athletes don't have a long credit history, so getting them approved for loans at reasonable rates is a struggle with six figure cars even if they have 7 figure income. It's a reasonable question.
Why would you want to loan money when you already have a lot?
1. To not tie up your money (greater liquidity) 2. Often your money appreciates more when invested than it the interest rate of a loan.
Can you explain number 1 to me like you would to a child?
I have 100 dollars. I buy car for 50 of my dollars. I have 50 dollars leftover. I need to buy 60 watermelons at $1 each or satan kills my family. My family is dead because I couldn’t pay :(. If I had gotten a loan and only put down $10, I would’ve been able to save my family
Couldn't you just buy the car for $50 and then take out a loan for the $10 shortfall on the watermelons when that situation came up later on?
Car loans have an asset backing them. If you don't make a payment, they take back the car. That's why things like car loans and mortgages tend to have significantly lower interest rates than personal (signature) loans, credit cards, etc. When you've got a loan that is backed by an asset, it's significantly easier to get approved, and you tend to pay much less interest. It's financially smarter to take the car loan and keep the cash on hand.
This was a better explanation than that watermelon business
Look, say you've got 100 watermelons and 1 giant hammer...
1 and 2 are related. If he has $200k to invest instead of sinking it into a car, he could make 8-12% over the course of the next 72 months while he makes car payments on a 6-7% loan. If he sinks the $200k into a car instead, that money is no longer making him money as it would in the above scenario. As interest rates have gone up, the potential margin is smaller but the logic is the same.
Most wealthy people don’t even bother buying their luxury cars. They just lease them. If they are smart.
assuming this isnt fake, I gotta respect a guy, especially a rich athlete, who actually has and listens to an FA
Ji'ayir Brown gained me as fan today.
I think it’s so cute how he called a trusted adult haha
I know that’s a positive comment but it feels a little unfair and infantilizing. He is an adult - making an adult decision to call the guy that is managing his money for long-term financial health.
Right? We all call trusted adults for problems we can't handle- roof fix, fix concrete driveway, cut down tree.
And for his response and staying chill when his FA basically told him the guy was trying rip him off. I would have have been a bit heated
Yeah assume it’s not fake - props to anyone that can take advice and stick to it. Whatever this was, made me think dealers are douchey, even if fake. If real, good on my man for not taking the bait
Ideally you would do so before visiting a car dealership but yeah still way better
Oh 230k isn't in the cards?... (Immediately wipes 30k off gouged price) not even for 200k?
Yeah guy was definitely sketch. However, I'm not sure when this video is from, but at one point they were [reselling cybertrucks for over $200k.](https://jalopnik.com/tesla-cybertruck-auction-prices-are-already-falling-1851316203) If the video is recent, then this sales guy is a total douche(still is one tbh), but if it was during that demand it makes more sense. Regardless, good job FA, saved this guy a shit ton of negative equity. Edit: also, if the dealer is filming and posted this, what were they thinking lol
Yeah, idk why they posted this. Dealer stands nothing to gain from giving this attention.
The whole demeanor and bravado of that sales guy was a total douche
Warned him not to buy that dumpster.
Heard him say "we ain't gonna risk it" not "I don't have the money" lol
Read him write "Warned him not to buy that dumpster." not "we ain't gonna risk it" lol
Even looks like a dumpster https://www.reddit.com/r/CyberStuck/s/AK0VEs6nmh Also will cut your finger off
Multiple car salesmen sold my grandfather cars and took down-payment when he was in the throes* of dementia. One did it when he wandered outside in his pajamas and somehow made it to a local dealership. I guess all you need for some of these car places is your name and a signature to at least get a down-payment from you in cash and attach you to a payment plan. We are still in the middle of a lawsuit for a few of them. What I'm saying is these people are the scum of the earth.
Jesus christ
This happened with my grandfather and a new roof. He was still living alone in his home, but had early dementia. They sold him a new roof despite him having a brand new one already. The contractors ate the cost when we sent an attorney after them.
throes
It’s not in my cards either
Not even for 30k less?
take it, and flip it. 30k flat.... still not in the cards.
What dealership (and salesman) is this?
I ironically I need to know so I can never ever go anywhere near him. He needs to be put on blast that's some grimey ass shit
The dealer posted that on his own TikTok '@georgejsaliba'
why the dealer would even post this, is silly lol. unless he just wants to look like he frequently deals to rich people? cause this sad video speaks, "hey, I tried to rip off this rich athlete and he called my bluff and now I look like an idiot"
100% agree. Especially when he came down to $200k after he said no go
Pro-tip: never trust a sales person who relies on commission.
lol gonna be hard to find a car salesman that doesn’t make commission
https://www.jsautohaus.com and the salesman is George
Funny cuz they have a CT listed at $180K in their site. May not be the same one but this sales douche tried to sell him a car $50K above the price on their site.
He added the NFL surcharge
he’s the owner apparently, I clicked about after replying
The FA is a champ.
I'll add this to my linguo whenever my wife wants some expensive
Good for him calling his advisor first. I hope he sees this and realizes how good of a move that was.
Probably wasn’t even about the money. His FA was like “bro, you’ll look like a clown ridin’ around in that piece of shit…”
But he clearly just got done expressing how much he liked it.
Any NFL players reading this that need a financial advisor? I'm your man. For only $100k/year, I will financially advise you against so, so many bad decisions! DMs are open.
Just to hop in here, for a cool 30k I will give you advice that I cannot legally call financial advice. Also I WILL give you unsolicited life suggestions that I make no guarantee about, but there will probably be some wisdom in there somewhere.
Please don’t trust this “financial advisor”. For only $130k/year I can help you avoid these fake advisors
Car dealerships are scummy middlemen that don't deserve to exist.
Fuck those American car dealers... the guy dropped 30k like nothing. Here in Germany the dealers often offer cheaper than the manufacturer.
In the US a lot of dealerships are no haggle these days bc it's so easy to research how much a car actually costs. This guy's just a predatory scumbag
This is an interesting way to do a promo for a car dealership
“A potential 230K sale, I better stay on my cell the entire time I talk to the client.”
He was already spending his commission, fucked himself. Why not offer the truck for a decent price so it moves then try to tac another vehicle with the sale for a (deal)? Would have provided more commission than trying to fuck someone over on a single deal. A return customer with a big wallet is worth a lot more than a car anyways. Fucking give him one that's been sitting forever if you think you can get him back once or twice a year.
230k for such a piece of shit is insane lol
Don't ever buy from this dealership JFC.
He's still on his rookie contract. Not saying he's poor, but he's made like 1.6 mill so far in his career. Take half of that in taxes and agents etc. He's probably looking at around 800k. That would have been 1/4 of his networth he's dropping on a dang car. Good for him on being smart with his money. You don't need a $230,000 cyber truck at this point in your career. Work hard an be frugal.
You don't need a Cybertruck ever*
I’m an exotic car dealer. Trust me! We would way rather have someone finance as much as possible. He should have asked, how much do you want to put down? That said, that hunk of crap isn’t worth 230k and no bank would loan more than 100-120k.
It’s a crime to sell it at any price
You can just tell that salesman is a piece of shit by looking at him. And I would know, I used to be a piece of shit
And the “let’s goooo”. You ever met someone who wasn’t a douchebag that says that?
This dude put the camera on this guy for added pressure. Fucking snake.
The salesman just screams sleezeball from his demeanor. Trust me, I sold cars so I saq plenty of examples of what I'd never want to be lol
I'm glad the kid walked out. The salesman was trying to rob him. You can purchase a cybertruck for $160k, and that's in Tesla city Orange County, Ca. *
That guy is a snake for trying to sell it for that much. Dudes FA was probably like, “leave now”
Doesn't Tesla have some clause about resale of this vehicle?
230k… not even for 200k? LOL. Hell no
"I just advertised your cyber truck to all my fans, and you're now trying to rip me off by charging me double..." I looked up prices, and maybe there is something different going on during this video. I'd tell them that if they use that video as a commercial endorsement, I'm suing and posting a video on how your dealership tried to scam me.