So no issues then.
I totally get where you are coming from. As others have said, there is not much you can do right now. Keep driving the car. Btw, I am yet to see one in the wild up here in MA.
1 Like
At that price Iāll take eight.
Heās a pretty terrible car reviewer in general and said the Model S was a great buy when it used to cost 6 figures lol.
I always take any YT review with a grain of salt. At the end of the day, we (consumers) have to do our due dilignece when making a big purchase. I am not casting blame here, since the folks who purchased an Ocean did not expect the company to file for bankruptcy. I feel bad for OP, given how much upside down they are on their loan.
Keep driving until it is no longer driveable and hope that day is not soon. Stop worrying about the value , it was worth the purchase price when you bought it, nothing you can control has changed - yet. Every car will be depreciated to a few thousand dollars one day .
3 Likes
You can try to add gap insurance, donāt mention anything about upside down, once that is good if you were able to do it, pay someone $1000 to vandalise your car or run into it, if you ever want to do that, come here delete this post and do it.
Unless you commit fraud, there is no way out.
Canāt believe people bought fisker, come on man it was obvious!
Way back when computer pads were expensive, HP sold theirs for like $100 (75% off), and a ton of people bought them only to find out they bought paperweights a few months later.
Best option is to drive it till it dies and just make more money to cover any perceived loss.
2 Likes
You guys are really showing your age lol, MKHBD is not just some kid, heās literally the biggest (top 3) tech reviewer in the English speaking world. I thought the ocean review was harsh, but his reviews and his videos are great. Itās not the review that bombed Fiskerā¦ it was the companyās response that made people really dislike them. Heās also trashed Vinfast and Rabbit recently, but those companies are still running, even though their products are also garbage.
I liked the car myself, Iāve tested one, but the company itself has little to no moral character. Itās fine to update the product post-launch, but donāt oversell and underdeliver.
As to OP, as others have said, your best bet is honestly to just drive till wheels fall out. We all make hasty unfortunate decisions sometime, but Magna Steyer is a solid manufacturer, the vehicle will get you from A to B no problem. And make sure you 100% have GAP insurance.
Also, since you have an EV, think of it this way - youāll save money on fuel than if you had bought a gas car. And you wonāt have to do oil changes or anything like that, though it might be time to learn a bit of DIY mechanics for simple things.
3 Likes
Your gonna take a huge loss on this regardless of how long you hold it. You just need to pick the best time to absorb the loss. If it makes you feel better, you are not much worse off as owners of 2022 Model Y or those who paid full MSRP for an EQS. Neither of those brands even went out of business. It could be worse. Rolling the negative equity into a new lease with a low MF could work.
3 Likes
Iām < 25 years and just because I think heās not a great car reviewer, doesnāt mean Iām old. He might be a good tech reviewer, but he definitely isnāt a good car reviewer and what he said about Fisker has nothing to do with what happened to the company.
Honestly asking the community here because I donāt know the answer. Other than tanking his credit, what would be the repercussions for the OP to just quit paying his loan and take a repo rather than keep paying $62k?
Is there any cost/benefit argument that can be made or would he just be making matters worse?
The HP TouchPad was a crazy deal at those fire sale prices and they actually held their resale value fairly well afterwards. I donāt believe that I lost much money on it, if any once I sold it. The stock OS was actually pretty cool but it could also be hacked into an Android tablet pretty easily.
repo would not wipe liability. He needs a full bankruptcy defended in the court. Might try negotiating directly with the bank. But I can image it would not go well.
Whether or not heās a good reviewer, your opinion is as good as any other. But to call him āsome kidā is a bit trivializing who he is and what heās accomplished. Many people trust and rely on his reviews to be authentic, heās not just some random no name rabblerouser trying to take the company down (as many people, including Fisker owners) believe
Itās a big lesson for companiesā PR - if you make a mistake, own up to it.
Some teenager conned all of you into driving an EQS. Thatās an achievement.
10 Likes
What state are you in? Different states will have more or less consumer friendly lemon law statutes. Anything that affects drivability or safety, document it and that includes documenting any repair attempts.
Depending on your state, a valid repair attempt may include reaching out to the manufacturer and receiving a āgo f yourself, weāre shut downā reply. No worry, just rinse and repeat until youāve collected your valid repair attempts, all in writing, then reach out to a lemon law attorney.
I think big picture will be a lawsuit against Fisker, including the family as individuals, and in order to find sources of money, the lawsuits will need to be directed at Chase, essentially alleging fraud for failing to do adequate due diligence on Fisker prior to offering financing.
In a perfect world, every Fisker owner financed with Chase could coordinate a plan to stop making payments. If every Fisker owner stopped making payments, and I donāt know how many there are - hundreds? Not thousands, I donāt think - it might force Chase to negotiate free gap insurance into the existing loans to protect owners from loss. The more who agree to do this, perhaps backed up with a class action lawsuit alleging fraud, the more effective the action will be.
I was actually on the waiting list for two years to get my Ocean, and when I sued Tesla under the lemon law to get them to go choke on my Model Y, I needed a replacement quick, so I got my deposit back and thank goodness I did, then I went for the Nissan Ariya
Potentially making it worse. Repos and bankruptcies though can be discharged, follow you around for awhile. It immediately disqualifies you from any top-tier benefits/advantages, discounts, and such from lenders. Even if you pay it off down the road or negotiate a settlement, the fact that the loan (instrument) went into recovery raises red flags for underwriting. As a lender, I may or may not even want to do business with you, whether itās for commercial or personal/retail business.
But this is life and it happens. Sometimes itās better to take that loss upfront, but youāll be paying for it for a long time afterwards (mortgages, credit cards, student loans, personal loans, rental apartments, even jobs - anything that requires a credit check).
2 Likes
I know people hate on the EQS but I love mine 
Well then Like the Touch Pad, and the Karma, hopefully someone will appear to do the maintenance work on it when they need it
(My old boss had a Karma and loved it but did not like sending it far away to get fixed)