How I Got A Car With Robinhood for $39.05/month

Описание: So I did a thing, I went ahead and purchased a new car. I don’t like the idea of getting a new car because then you’ll get a new monthly payment that’s higher and you’ll just have more debt. But I got a deal that I couldn’t pass on. And it was getting a 2022 Toyota Prius for $22,000 after all the negotiations and incentives. For some odd reason, it seems like no one wanted this car. And I get it, it’s not that attractive. It’s a 2022 Prius and not a 2023 Prius. But you know what’s attractive? It’s getting 60 MPG!

So the idea is to use your existing money to create money out of thin air. I know this sounds abstract, but here’s how I did it. And I’ll break down all the numbers for you. And the numbers will vary case by case and it’ll change but the idea will still be there. I know some people will bash on me by saying things like it’s not true but if you have a working knowledge of investing it could work. And like any investment, it’s risky but if you can manage your risk, everything is smooth sailing.

So first things first, I have a decent amount of money in Robinhood, I don’t have a crazy amount like some financial Youtubers that you see, but a decent amount to buy a car, and I do have Robinhood gold. And for those of you who don’t know what Robinhood gold is, it just basically allows you to access more tools on Robinhood and get better margin rates aka the interest you borrow on money. Robinhood seems to have one of the lowest rates compared to other brokerage that’s why.

Since I have a chunk of money invested in Robinhood, I’m allowed to pull out a certain amount of it, which is the borrowed part. And as of now, Robinhood’s margin rate is 7.25%.* Keep that in mind because I’ll be using that number later on. So basically, if I pull out $22,000, which I did. I would need to pay the 7.25% of interest. And if I break it down to monthly it’ll be about $132.92/month on interest alone. And if you’re just looking at it to buy a car, you’ll think it’s a dumb idea. Because auto loan rates nowadays are around 6% give or take.* Now why would you want a 7.25% interest that’s not even locked and where as a 6% auto loan is at least locked and fixed for a certain amount of period.

And that is true and here’s what most people don’t think about. I could go to these brokerages like Robinhood, and take a chunk of money out, like $22,000, but obviously, you’ll need to have a decent amount of money invested, so it acts as collateral when you’re taking the borrowed money out. Which is like creating money out of thin air. And you all of a sudden have an extra $22,000 without jumping all the hoops of getting approval from banks or doing background checks. Then I could just pay off the car with it, which I did. I get the title to the car. I don’t need their financing department running my credit to multiple lenders. In addition to that, which is the big thing I really wanted, is that this debt or loan won’t even show up on my credit report. And to top it off, I could make just make the interest payment on it without having to pay for interest and principal like a traditional loan. I can use the extra money to invest in other things.

Sign up on Robinhood:
►https://join.robinhood.com/beny11

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Legal Disclosure: I'm not a financial advisor nor a certified public accountant. These videos are for entertainment/educational purposes based off of my personal opinions. Investing in any type of investment involves risk and you need to do your own research or seek out a licensed professional if necessary. There is no guarantee that you'll gain or lose on investments.