Is this stock doomed?

[Ngkgb]

Maybe I’m looking at things all wrong, but I was able to snag a 96 month loan at 3.75%. The interest over the 9 years on 70k is about 11k. The interest over that same time putting the 70k in a 5% savings account is more than double that. That’s not negligible. I understand rates can/will go down but I literally see no point paying it down early.

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[nellbarr]

Seems like the stock doesn’t want to find a bottom yet. Any idea if EVs beyond tsla are still going to be around in a few years?

LOOK At Tesla stock history and sales history.....It was under $50 (WAY UNDER) until 2020.

 

[moosetags]

I am guardedly hopeful that Rivian will survive in the long run as an independent. Start-ups need to make it work to preserve our economic system.

What's with this 2024 Meteor? Is Ford bringing back the Mercury Brand? We haven't had a Mercury Meteor since 1963.

Brian

 

[Acoustic71]

Seems like the stock doesn’t want to find a bottom yet. Any idea if EVs beyond tsla are still going to be around in a few years?

Apple is DOOMED! Apple is DOOMED! Apple is DOOMED!

Oh, wait. Sorry, wrong decade.

 

[EhrenT]

Perhaps we are in the "old fashioned" category here but I agree 100%. If you have to buy a car on a loan, you simply can't afford it. Sorry if that means not having a shiny new Rivian (insert car of choice) today but doing instead something called "saving up"!

A by-product of recent cheap credit and people trying to keep up with the Jones's ... got to be seen in a brand new Range Rover I don't actually own rather than a 2nd hand Rav4 i should be in.

oh and to answer the OP, yes of course, all EVs are doomed. Rivian is doomed. Quick sell your stock, car, everything. Jeez ...

I agree you shouldn’t buy what you can’t afford to pay cash for, but, I still financed 1/2 of mine because it’s only 2.9% and I’m making 5.5% on my $. Probably would have put less down if I would have known $ market rates were going to shoot up so high!

 

[Greg Chick]

Oh, yea right,

Not trolling. Seems like they’re upping production, but stock keeps dropping. They got enf cash but are ICE vehicles gonna stick around longer if we have a GOP President who cuts back on EV incentives?

Yea right, trolling a right wing perspective, this is not an ideology subject.

 

[Donald Stanfield]

Financing or paying cash, if we want to get technical and get on our frugal high horse; none of us (by rule of thumb) should be purchasing any vehicle in which price exceeds 35% of pre-retirement or post-retirement gross annual income. Meaning if you did not or do not make over 250-270k/yr you have indulged. Also meaning those who “technically” purchased w/o indulging would, in most cases, not qualify for EV tax credits either.

Unless we were lucky enough to get in under the old rules like I was...

 

[hawk4326]

Lots of articles trashing EVs lately. I have been an EV owner for 1 month now (DM R1T) and I can say that after driving an EV, I don't see myself ever going back to ICE. Except for inferior range, everything else about the drive experience is better. I think Toyota's CEO is FOS when saying "people are waking up to EV reality" and that it doesn't work. He allowed Toyota to fall behind in the EV race and just trying to make himself feel better.

 

[izgoy]

Maybe I’m looking at things all wrong, but I was able to snag a 96 month loan at 3.75%. The interest over the 9 years on 70k is about 11k. The interest over that same time putting the 70k in a 5% savings account is more than double that. That’s not negligible. I understand rates can/will go down but I literally see no point paying it down early.

You forgot the taxes and inflation.

 

[evguy]

I think Rivian will succeed but the stock may be volatile until 2026, when R2 production is supposed to begin. That said, I added a little more to my RIVN position at 15.9 yesterday. Will add a lot more if it goes below 14 again.

 

[Yellow5]

All of the old guard ICE manufacturers are struggling to move forward. It makes sense, a BEV is a totally different thing that happens to provide the same experience for end consumers. You don't need engine people, carb people, etc. You can build a BEV truck of any size rather than only making gigantic ones to ensure your emissions don't fail.

I expect many forms of defense to come out of the woodwork in the next couple years from the ICE manufacturers and oil producers. They have a ton to lose and will do whatever they can to maintain it. BEVs provide a far better driving experience at this point, and that becomes painfully apparent as soon as a person drives one.

 

[izgoy]

Lots of articles trashing EVs lately. I have been an EV owner for 1 month now (DM R1T) and I can say that after driving an EV, I don't see myself ever going back to ICE. Except for inferior range, everything else about the drive experience is better. I think Toyota's CEO is FOS when saying "people are waking up to EV reality" and that it doesn't work. He allowed Toyota to fall behind in the EV race and just trying to make himself feel better.

Go on a long road trip and then tell us how you feel.

 

[izgoy]

I agree you shouldn’t buy what you can’t afford to pay cash for, but, I still financed 1/2 of mine because it’s only 2.9% and I’m making 5.5% on my $. Probably would have put less down if I would have known $ market rates were going to shoot up so high!

Forgot taxes? Also, please post the name of the bank that pays 5.5%.

 

[popoga]

On 5.3% money market (that’s actually is one of those accounts you put money in and can never get customer service - so be my guest; I went with a real bank at 5%), you have to pay tax (state and federal). So, by the time you’ve paid the tax, it’s not 5.3% anymore. Then you factor in inflation, and you are lucky to stay above the water. As for the 2.5% loan, where do you get it on a vehicle in high demand? Nonetheless, it’s 2.5% in paid interest (if you can get it) vs barely 1% in earned interest (after you’ve paid the taxes and factored in inflation).

I agree, if you can’t afford any luxury car (or any new car for that matter) for cash, you shouldn’t own it because owning a fancy car on loan or financing it makes you even more poor. Others may not know it when they see you in your vehicle, but you know it. You are making the bankers rich and yourself poor. And that’s what the society and the culture want you to do. They want you to be in perpetual debt for everything you use because that’s how the people who rule this country get even richer.

lol

 

[Dark-Fx]

hWat's with this 2024 Meteor? Is Ford bringing back the Mercury Brand? We haven't had a Mercury Meteor since 1963.

Brian

Politics aren't really welcome here but it's more of a refrain that any of the candidates one can vote for as President are terrible options and everything is going to burn down anyway, so why vote for the lesser?

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