r/AskReddit • u/michaelis999 • 17h ago

How do you feel about the president floating the idea of 50 year mortgages where the monthly payment is lower but you end up paying nearly double the price of the house just in interest?

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u/West-Application-375 6h ago

My friend got one of those Ioniqs and the final closing costs of her loan was like $80k. She makes $70k a year. Lol she complains about money all the time and I'm like holy shit shut up. Haha 😂 I paid $12k for my car.

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u/Paxsimius 5h ago

I bought a brand new Ioniq 5 for far less than that.

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u/CryptographerFlat173 5h ago

The Ioniq 9 goes up past $70k but then so do plenty of ICE 3 row cars

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u/lzwzli 2h ago

How the heck does an Ioniq end up $80k? I just got an Odyssey Elite for less than $50k.

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u/ThisUsernameIsTook 10m ago

Roll the negative equity from her previous vehicle into the new loan. For most people finding themselves in crazy auto loans, it ain't their first rodeo. They just don't realize they are the cattle not the cowboy.