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Hi all,
I'm serving Notice period and last date shall be 13th May 2022. Can someone help me understand if the bands and compensation isn't release by that date, will that be adjusted in full and final settlement?? If so, what about the components, which all shall be credited in that FFS?
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I came to know that 450 grade are not eligible for annual performance bonus in jpmc is this is true ?
Annual Performance bonus will be getting from 5** grade
They will be getting only CEO bonus...
Can some suggest that is the above information is true ?
I recently joined so i don't have any idea
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Ah yes. Paying 80k+ for a used Tesla (probably worth max 50k) makes total sense.
Chief
OP, also bear in mind:
1) You could buy a brand new Model Y for $70k today - why would you buy their used one?
2A) Tax credits. If you bought a new one, you could qualify for tax credits making your net cost $60k instead of $70k
2B) As a corollary of 2A, <they want you to pay them $70k for something they paid $60k for>.
There are a couple of possibilities here and none of them are good. If it was me, even bringing up this preposterous idea would be a serious red flag for my relationship with them, and could risk spilling over into my relationship with my spouse. I’m not exaggerating.
Either:
A) they’re legitimately this clueless about money. I would be seriously concerned about their financial position and ask your spouse to have some hard conversations about elder care. Are they going to move in with you in ten years? Start asking you for loans? Help paying off their debts?
or
B) they know this is a preposterous idea, but hope that YOU DON’T. I.e. they are intentionally taking advantage of you *and their own child* to enrich themselves. As bad as the first option is, I think this is worse.
There are no current tax credits for Tesla (this was wound down over 2020 as Tesla hit its sales threshold for the credit) - there are some states that still currently offer sales tax incentives, none of them come close to $10k in value.
The “family special”
Chief
VCA, as your cousin, I will sell you this only partially-chewed apple core for the low, low price of $3.00. Just for you.
Chief
Damn, I thought you were getting it just for the $25k left on the loan, which would probably be a good deal.
Re-reading this, they also want you to pay back the principal they *already* paid?
Are these people on drugs? Serious question. They want you to pay the price of a brand new car, for a used car? 😂
Probably principal + interest
That makes no sense. In Chicago you can get around without a car using public transport, in Iowa you cannot. Also, you really gonna keep the car 8 years?
It's mind boggling to me how willing family members are of screwing over other family members for their own benefit. This is such a shit deal it's shocking.
The above points are good; plus: don’t forget the opportunity cost. That’s a LOT of car—at least 50k more than you actually need to get from A to B.
So the real question is then — assuming you do need a new car — do you want to put this extra 50k into a car? Or into retirement, student loans? Maybe throw in a nice vacation?
I personally would not touch a 70k car until you have at least 500k in net worth. IMO that extra $50k is much better spent on VOO over the next few years
A 70k car seem like misplaced priority for you at this point in time. It would make more sense it it's going into an appreciating asset.
How old is the car? Are you sharing a car? Don’t pay that much for a used car. Maybe if they offer you the car and just pay the rest of the loan (25k) but don’t pay back the rest of the 45k. Cars depreciate and they’re taking advantage of you if you need to pay them back for the car over 8 years.
Get a cheaper car if/when you need one. You’re looking a 700+ monthly payment over 8 years if the whole 70k were interest free? Or are they only giving the 45k interest free and you need a loan for the 25k which would make it every more expensive.
Chief
Personally, I wouldn’t pay more than the current loan principle plus whatever amount would get to market value if they resold it.
Sounds like they are rethinking their decision and trying to offload it on you while making a 45k interest free loan sound like a good deal.
It would be cheaper for you to buy a new Tesla than to go through with this deal. I don’t understand why they’re asking you to pay back the amount they’ve paid already. That’s sunk cost. It’s not as if they bought the car for you guys.
Boomers screwing over millennials. Name a more iconic duo, I'll wait.
What is the car worth now? that is what you should pay them, if you want the car
They are scamming you guys lol
Fellas y’all ever been scammed by your in laws??
Wish I could say no.
Personally as a technician in both gas and diesel, you would be better off owning a diesel vehicle. You can find both cars and trucks that run on it, but the longevity you will see out of one is far superior to that of an ev. Also the main batteries in an EV aren't completely fool proof and have a history of going bad at random times. And if one ever catches fire, it can take 40k gallons of water to put one out completely, sometimes the vehicle has to get submerged in water for a few days because the fire will reignite multiple times
Diesel in Chicago? Good luck with their winters.
You are about to get screwed. Don’t take the deal.
Always be wary when someone figures something will be good for you. 😂
Chief
Is the car still new? Why are you paying off the remaining loan AND paying them back everything they paid? Sounds like they decided they don’t want this car and so they are dropping it on you at full price.
1) Just avoid financial transactions with family. 2) That’s way too much $ into a used car, especially at your age, get a nice car for $30k and put the extra $50 into the market and when you’re old it’ll be worth a lot and the car will be 🥜
I believe the author mentioned that it’s a brand new car, so many comments talking about a used car, like can y’all even read😅 Author please realize that you are asking in a group where people are frugal and will save every penny they have and drive a 20+ year old car just to save more for retirement. Nothing wrong with that but it really depends on your lifestyle and goals. I personally think it’s great that you don’t have to stress about paying interest because it’s being passed on through family, plus, you will save SO much money on charging it and it’s great for the environment. The price on the car will not go down so you can essentially sell it at any point if the payments get too expensive or if you want to switch to something else. I know that people on here will say: “your car worth decreases right after you drive it off the lot” but that’s not true. I bought my car almost 3 years ago, it’s a Honda Hybrid and the MSRP went up so if I sell it, I will actually make a profit. With Tesla, same thing, I have a friend who bought it in 2020 and sold it for at least $7k more. So the way I see it: you are able to enjoy a great quality car, without paying for gas, no interest rate and you can sell it at any time. Of course you need a car for the family and especially in a place like Chicago, but at the end of the day, go with your gut feeling, it’s usually right!
Pretty much every new luxury car offers 0% interest , it’s not that special.
They sounds sleazy and they’re trying to scam you. For 80k by two brand new Honda’s and have 7k leftover
Honestly this doesn’t make any good sense