He Can't Afford a Tesla... But Won't Let It Go

[00:00:00]Everybody wants the reward. Almost nobody wants to build a foundation first. Today, we're going to be looking at somebody with a 471 credit score wants to buy a Tesla with only $2,000 down. And this video is not about judging him, right? Cuz it's something millions of people struggle with.

[00:00:12]Welcome back to the channel. My name is MJ. I talk about ordinary people making extraordinary financial mistakes. Watch the full video, hype the video, like, comment. Let's dive in.

[00:00:20]>> Hey, Dan. I got a guy here. He's looking at the Tesla Model 3. He wants to do zero down. He says he's got pretty good credit, so.

[00:00:25]>> Okay. Well, good credit shouldn't be a problem. We run and see. I don't know in what world this is good, but got a 471 score. Got a couple paid autos on there.

[00:00:34]I can tell you right away zero down. I don't know if I can even get an approval. I mean, the paid autos helps, but these really late credit card payments, I mean, that's that's driving down the scores. Obviously, he has no he thinks he's got good credit. Let's go out there and talk to him together. Kind of find out what what he thinks is going on and try to see how much he can put down, if anything, and see what we can do. All right. So, I don't know if he actually thought he had good credit or if he's just lying. I guess his that's his brother with him. I told him like in order for me to secure an approval, like best case scenario, we're going to need a good good chunk of money down. He says the most he can do is like up to $2,000.

[00:01:09]I told him I don't think that's going to cut it. Like I could submit it if you want. I can send it to a bunch of different banks, but he's talking to his brother right now to cosign for him. His brother's very reluctant. I probably would be too if I heard my brother's 471 score, but I think that if we have a chance to get this done, his brother's going to need to get on the loan.

[00:01:26]>> Okay, so brother's gonna do the app. He was reluctant, but at the end of the day, it is his brother.

[00:01:31]>> Much better. 835 score. I'll get it done with with the brother on there. Allies approving them at 10.89. With both of them on there, he's getting 10.89% with the 2K down. I definitely suggest gap for him. With the gap, you're at $5.40 a month. without the gap, like I said, like 10 $15 less, but with only 2K down, uh, it's definitely worth getting it, but just, you know, obviously explain to him that it's optional. Go over the payments with him, see what he wants to do.

[00:01:57]>> Okay, so they took the payment. Pretty straightforward. But, uh, you you should hear this. The the way that the Better Credit Brother is talking to the Worst Credit Brother, it's like a teaching moment, like a father-son moment they're having right now.

[00:02:07]>> You should probably take his advice. The guy's obviously knows what he's doing.

[00:02:11]He's got a 835 score with a paid off house and you know open auto loans that he's I'm sure he's paying four or five% on. So he should probably listen to his big brother.

[00:02:18]>> Yeah. If only they listen. You know what's interesting, right? Is that a credit score to us is just a number. But it it's it's more than that. It's your financial history. It's your financial reputation. It's your story of past mistakes and present desires, right? And it it tells the lender one story, but the person applying is often telling themselves a completely different story.

[00:02:38]You have two different spectrums. You have a brother that has 835 credit score, paid off house, you know, clean sheet, and you have another brother that's following his desires, following emotions, not math. He has a bunch of cars paid off before, but at the end of the day, late payments on credit cards, is consuming, is not trying to build wealth, right? And a lot of you guys will say that the Tesla is the problem.

[00:03:00]To me, the Tesla is not the problem. To me, the timing is the problem. Because a Tesla isn't automatically a bad purchase, but buying one before your financial uh foundation is ready.

[00:03:09]There's the alarm bells here. And one of the most dangerous things about money is that your desires can grow a lot faster than your income ever will, right? And because we live in a social media world and uh people want to show off, social media shows us the finish line every single day. And the saddest thing some people do is that they end up trying to buy a lifestyle, right, before they've built a life that actually supports it, right? People don't care about good advice. People don't care about good investing advice. People don't care about retirement. It's evident here.

[00:03:35]This guy probably didn't wake up one day and said that he wants the Tesla car payment at $540.

[00:03:40]I I think people just want what the car represents. The success, the progress, the respect. I want everybody watching this to really comment cuz I really want to see what you guys are thinking.

[00:03:47]Right. If somebody handed you a Tesla keys today, but it meant you stayed broke for 6 years, for the next six years, would you take it? Let me know down below in the comment section.

[00:03:56]>> Selling my luxury car was not on my 2026 priorities list, but my priorities changed. And no, I'm not going through a financial crisis. I just realized that the car that I loved didn't align with the life I'm trying to build. Paying 900 a month for car payment, another 200 for insurance plus Mercedes maintenance costs meant a lot of money was tied up in something that was depreciating. I had to remind myself that living below my means doesn't mean living less. It means living intentionally and building the future that I want.

[00:04:21]>> There's nothing wrong with saying I can't afford it anymore. I am done playing this character that I'm It's hard to keep up every single day.

[00:04:29]keeping up with hours at work, getting overtime, getting extra uh shifts, doing doing gig work to make this work only for what? An appearance and a lifestyle so what other people can clap other people can respect. But I'm not really happy going to bed every night. And this is the thing I respect. A lot of people need to do this more, right? Ego and pride is the biggest enemy to your financial progress. You know what I'm saying? To go from a Mercedes to a Toyota, it literally just shows how you've mastered, you know, maturity because now you don't care what people think. And that's the hardest thing. And owning a Mercedes, you might afford the car payment, but it's the headaches that come with it, the cost of ownership, the maintenance, the repairs, the $256 car insurance that you're paying. So total for you to upkeep this car, right?

[00:05:12]You're paying $2,000 a month. That's $24,000 a year with the repairs and everything put together. Because the hardest part about becoming wealthy isn't about making money. It's learning that not every desire deserves some sort of a payment. We're living in an epidemic that is so toxic. That is so draining. That is so backwards that looking successful is the same as becoming successful. Somebody said $900 on a C300 salesman went on a vacation the next day after that robbery. You toxic. Alex is toxic as hell. I don't care what nobody says. A $900 car payment isn't insanity. Facts. Stay small enough long enough and you'll be big enough soon enough. This was so smart of you. Love it. Somebody said, "I love this. One step backwards, 20 steps forward. The real flex is able to afford it, but choosing to live more frugally.

[00:05:58]Everyone doesn't have that choice. I did the same thing. Gave up Range Rover and now have a Honda. So much peaceful.

[00:06:04]Girl, it's been about a month and I feel so free. It is free when you make good financial decisions. Right. Playing a character is tiring. It requires a lot of sacrifice for you to give up on your soul. My house has been on the market for 95 days and we're supposed to move to Arizona in 3 weeks and I thought that we would have been super done with that.

[00:06:25]But we're not. And we've lowered it just about as low as we can go at this point because now we're in a time crunch. And our house is so cute. Look how cute it is. And nobody wants to buy it. No one's even hardly come. No showings. I mean, there's been like four four in 95 days.

[00:06:39]We've had a million open houses. I don't know what else to do.

[00:06:43]>> Let's talk. I don't know what else to do. It is $429,000 if you want to buy it. It's a six bedrooms, three bathrooms, and technically it's over 4,000 square ft, but it is um on paper 2,700 ft because the basement's walls aren't done. So, >> really, >> if anyone wants to buy my house, it's mid-century cutie.

[00:07:02]>> That's the thing about buying a house.

[00:07:04]Everything comes with risk, sweetheart.

[00:07:06]And the thing that you didn't calculate is that when you buy a house, your circumstances might change, but the bank does not give a damn. You are landlocked to that deed. You are landlocked to that mortgage. That's what at the end of the day matters, right? You might get another job, a better opportunity somewhere else. Your parents might be somewhere else and they might be dealing with a health scare and you want to be there for them, but you're stuck with this, you know, this obligation that is taking 30 years to pay off. It's not easy. It's not hard. And it gets expensive every year. It's like a child.

[00:07:35]A mortgage is a child. You know, a more expensive child. One repair can cook you for years. It's not a buyer market. It's not a sellers market. So, you're stuck for 95 days only for four people to come at 429.

[00:07:49]It's already overpriced. I'm sorry to tell you that. And the thing is is that what are you going to do now? You're going to you're going to rent it, become a landlord. You know how stressful it is to deal with that. You know how painful it is to deal with that. You know what type of mental punishment that is, financial punishment, a scare when somebody doesn't want to make the payment. You have squatters now.

[00:08:10]People are playing with your house.

[00:08:12]People are breaking things.

[00:08:14]Yeah. I mean, that's the thing, bro.

[00:08:19]Good luck. We stop pretending like making 100K is not impressive. Everyone in these comment sections makes it seem like it's more common than it is, but it's not. Literally, only 18% out of the 340 million Americans make over 100K per year. If you break this down further into age groups, only 7% of people aged 18 to 24 make over 100K. Only 18% of people aged 25 to 34 make that amount.

[00:08:43]And 25% of people aged 35 to 44. And that's the peak demographic. No matter what age you are, making over six figures is impressive. It is true. I think it's very rare to make six figures, but again, people live on social media and they try to downplay like six figures is not a lot of money.

[00:08:59]You have people that are commenting every day on social media. We make the most money. Me and my husband both make six figures and we're more poor or more broke than we've ever been. is because you don't know how to manage that money.

[00:09:11]It's because a lot of people don't really understand that if you make $30,000, you on a social economic status are the top 1% in the world. 30,000.

[00:09:22]Now, imagine what six figure is or can do for you. The problem is most people don't have a value metric. Most people don't know what to do with that money.

[00:09:31]There's no purpose for the money. And when you have modern marketing that sells identities that is disguised as products, you can see why some people will come on the internet and say six figure is not enough. Why don't you give that six figure to somebody else that's more hungry than you, that's more disciplined than you, and let's see what they could do. And let's see if that's not enough. We have social media people coming on the internet saying 10K is like the magic number that everybody wants to push towards. And I would never come on this channel and tell you I'm going to help you make $10,000. What I what I want you to do is I want to help you psychologically master how you can get ahead with your money by just mindset shifts, by value alignments. You know what I mean? Everybody wants to sell 10 you can make $10,000. I was on YouTube the other day and I seen people telling you $50,000 a month is doable with AI. I literally lost my brain. I literally touched I'm not interested in this video. Don't ever show me that video again because people are so diluted. People are so brainwashed, right? And that person does not want the best for you. And for the people that make six figures, I want you to understand this that income creates opportunities. If you make six figures, that can create opportunity. But the discipline is what creates the wealth.

[00:10:29]And the person who needs the least owns the most freedom. That's what it is. The six figure should buy you freedom. If it buys you a bunch of depreciating assets, he's playing the wrong game. With that being said, I'm going to end the video here, guys. Make sure to like, comment, and subscribe. Please hype the videos.

[00:10:44]Like, comment. We're trying to get to 4,000 subscribers. Subscribe. With that being said, be a good doo. I'll catch you on the next one. This.