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00:00:00 – 00:13:48
The video comprehensively covers the decision and financial details involved in leasing a Rivian R1T vehicle, emphasizing fixed costs, warranty benefits, and applicable tax credits, with particular mention of a $7,500 EV tax credit. The speaker highlights their positive customer service experience with Rivian, though notes difficulty in some areas such as determining initial down payments. They parallel leasing to renting, noting the predictability of costs, advising against leasing for those who are not financially stable, and suggesting buying a cheap, reliable car instead.
Additionally, the speaker discusses monetizing their YouTube channel, which helps cover the lease costs through ads and sponsorships, notably with Hydrox for a wheel coating product. They share insights on the total out-of-pocket expenses, including a detailed breakdown of initial payments and monthly costs.
The video also touches on car market trends, advising potential buyers to consider waiting for used model prices to drop. The speaker reflects on personal financial philosophy, stressing a proactive mindset towards making money and achieving goals. They also mention their experience with car modifications, such as tinting, paint protection, and suspension upgrades, and give a brief account of their long-term dedication to producing YouTube content, encouraging viewers to pursue their own goals persistently without excuses.
00:00:00
In this segment, the speaker discusses the fine print details of entering a Rivian lease, including the $1,000 non-refundable deposit and associated costs over two years. He explains the mileage limits (12,000 miles per year) and the additional cost of 30 cents per mile if exceeded. The speaker also highlights how payments and terms are clearer in the final contract, mentioning his positive experience with Rivian’s customer service. However, he faced difficulty getting an answer about putting zero down instead of $5,000, which he eventually did. He found that putting $5,000 down saved about $500 over the lease term.
00:03:00
In this segment, the speaker discusses their decision to lease a car, explaining that while leasing is typically the most expensive way to own a car and you end up with nothing at the end, it provides fixed costs and a revenue target from YouTube videos over two years. They explain monetizing their channel through ads and sponsorships, highlighting a particular sponsorship with Hydrox for a ceramic wheel coating product. The speaker demonstrates applying the product to car wheels, noting its effectiveness and providing a promotional discount code.
They then break down their leasing costs, starting with an initial amount due of $18,589.97, including a $7,500 EV tax credit and a $1,000 non-refundable deposit. Their out-of-pocket total was $1,689, incorporating the first month’s payment. Additional fees added $167 to the advertised monthly cost, resulting in a final monthly payment of $998.
00:06:00
In this segment of the video, the speaker discusses the financial details and implications of leasing a Rivian R1T vehicle. They pay $862 a month for 12,000 miles per year, with a total cost of around $37,634 over the lease term, including a $495 turn-in fee. They compare leasing to renting an apartment, emphasizing fixed costs, warranty benefits, and tax advantages such as a $7,500 tax credit. The speaker advises against leasing if you’re not financially stable and suggests buying a cheap, reliable car instead. They justify spending money on cars as a personal choice and express confidence in covering the lease costs through earnings from YouTube videos. The residual value of the vehicle after two years is estimated to be $6,824.
00:09:00
In this part of the video, the speaker discusses the dropping prices of certain car models, suggesting viewers wait for a used one to get better value unless they can afford a new one outright. He recounts a conversation at a party with a Tesla enthusiast and shares his own positive experience with a Rivian vehicle. The speaker mentions plans for tinting and paint protection at Dynamic Tint in Tempe, Arizona, and an upcoming meetup with a Cybertruck and Rivian. He also discusses the importance of a proactive financial mindset, encouraging viewers to think about how to make more money to afford their desired items instead of dwelling on financial limitations. Lastly, he reflects on his consistent effort in creating YouTube content since 2011 as a way to support his interests.
00:12:00
In this part of the video, the speaker encourages viewers to take action towards their goals without making excuses, sharing their own journey of dedicating over ten years before seeing significant returns from YouTube. They stress that visible success is often the culmination of years of hard work, similar to athletes or wealthy individuals. The speaker finds inspiration in others’ success rather than envy. Additionally, the speaker highlights features of a display screen they use, particularly enjoying the elevation information. They discuss a feature called ‘Neal mode’ that lowers the car for easier exiting when parked. They also mention having upgraded the suspension on their Tesla Model Y to a new Comfort suspension and recommend this upgrade for Model Y vehicles from 2020 to 2022, with plans to test the 2023 model’s suspension.