$50,000+ car while economy in freefall

[LasVegas2019]

I took delivery this week and it was the bright spot during a very dark time. I love the Y. Yes the stock market is going lower and covid is spreading quickly but Uncle Paul said it best. This too will pass. Come June or August or October covid19 will not be an issue. Vaccines and treatments will happen. And when everyone else is clamoring to get their Model Y after this ends, huge pent up demand, I will be driving mine! So all I can say is don;t get caught up in today. Look down the read 6 months.

 

[hutsy]

Longtime lurker. Put in my Model Y reservation the week it was announced. Perhaps my name will come up soon.

But 3 million people just filed for unemployment nationwide this past week with the coronavirus disaster. The country is moving into recession if not depression. People are stockpiling toilet paper and beans. Just doesn't seem like a great time to spend $50,000+ unecessarily. Yet post after post goes up at TMC reporting, "just got my Model 3!" or "my Model Y just arrived!" Many are thrilled, some posts complain about build quality, and more. But I'm just wondering how are folks reasoning their way through spending a large amount of money at this time?

I'm not saying choices are right or wrong. Just wondering how people are thinking through pros and cons.

im in a fortunate position. If it was a risk I would save the cash.

 

[KenC]

Longtime lurker. Put in my Model Y reservation the week it was announced. Perhaps my name will come up soon.

But 3 million people just filed for unemployment nationwide this past week with the coronavirus disaster. The country is moving into recession if not depression. People are stockpiling toilet paper and beans. Just doesn't seem like a great time to spend $50,000+ unecessarily. Yet post after post goes up at TMC reporting, "just got my Model 3!" or "my Model Y just arrived!" Many are thrilled, some posts complain about build quality, and more. But I'm just wondering how are folks reasoning their way through spending a large amount of money at this time?

I'm not saying choices are right or wrong. Just wondering how people are thinking through pros and cons.

No doubt, this is a crazy time. Lots of already-weak companies will be put out of business, and force lots of people to have to find new jobs. However, this is not like any other recession in our lifetimes.

Macroeconomically, things were okay. As soon as life returns somewhat back to normal, the economy should rebound strongly. People will have to go on with life, and that includes buying a new car. If everyone remains an introvert, then restaurants and all the other service businesses will definitely collapse. The best thing is to keep calm, and carry on shopping. There's only so much TP one can buy.

 

[Dwayne Hicks]

All interesting perspectives. For what it’s worth, I work for an industry leading tech company and can tell you we are modeling between 10-20% cuts to budget (as a start). This will translate to plenty of people losing their jobs. I decided to push back on my Y until summer, but that’s the pragmatist in me. There is also plenty of internal struggle with the YOLO philosophy yearning to break free

 

[Uncle Paul]

I believe that this shut down will begin a process to totally transform American business. Marginal companies will go out of business, and fresh ideas will spring up.

People will begin to realize that kids can be perhaps educated at home with computers, than pent up in failing schools. More stores will fulfill online instead of shouldering the burden of high rents, expensive labor, and insurance costs. Parents are once again connecting with their kids instead of losing them every day to peer groups and multiple endless hectic competitive sports.

Other items as well will be looked upon with fresh eyes and ideas. Believe it will result in a tremendous leaf forward in so many areas previously carried on robotically.

 

[linux-works]

Come June or August or October covid19 will not be an issue..

I really hope you are right, but all the models severely disagree with that level of optimism.

lets hope the models are wrong, but I suspect they are not wrong ;(

 

[Mr. Burrito]

Even if your job is secure, it’s not smart to buy at this exact moment. Wait until the factory comes back online (probably many months from now) and once they get back to normal production, it is very likely there will be some killer deals from Tesla like 0% financing, free lifetime supercharging and maybe a discount on the car itself.

They have to make up for what is going to be a massive loss in sales and it is not going to be business as usual coming out of a downturn with 20-30% unemployment and most of the country having been shut down.

 

[SSedan]

The guy who initially pushed the doomsday model that said 2million dead in the U.K. alone has said he was all wrong and is now talking 20k. Which is awful but is a lot less awful.

It will take time but I am optimistic this will bring more manufacturing back to the USA which leads to a possibility of making us stronger economically than we were. Then again people have short memories and might not learn anything.

 

[mswlogo]

Personally, I would cancel, if it was an option. Not trying to be all doom and gloom. But...

Things may change for a long time.

Some believe things won’t go back to normal until a vaccine is developed. And optimistically that could take 18 months.

This virus will likely come back seasonally like the flu. But nobody knows how fast it will mutate or how well we will build up “herd immunity”. Lot of unknowns.

The Flu in a bad year takes 60,000 lives in the US alone. This “first wave” of COVID-19 will be at least 10x that. And because it’s overloading the system other non COVID patients will die.

NY just bought 45 refrigeration trucks to store the bodies.

They canceled the Olympics. Every sports and entertainment gathering. Every cruise. How long will it be before cruises would feel safe?

Restaurants that are doing delivers are still dead around here MA. Guarantee they will all close in a couple weeks. I was at a Super Charger a week ago that your view is the drive up window of a Panera Bread during peak hours. Not one car came in 45 minutes.

I’d love to get take out or have it delivered. But why expose my family to that risk?

I went to Lowe’s last night, I was the only customer in the entire store.

The ripple effect of this could last a decade.

The Auto industry will collapse. Housing Market will collapse.

If it was just a couple more weeks, sure we could bounce back. But things will probably peek in 3 weeks and will tail off for 6 weeks.

This is like a hurricane that hit the whole country (world) and lasted 90 days. It’s gonna hurt.

So what color is the OP thinking?

 

[LM-5]

I was laid off out of the blue this week. Taking delivery of a Model Y is the last thing on our minds.

 

[empiredown]

While I'm new here, I'm not new to life or anything that comes with it...

The economy is not in freefall. The world is not going to end. Some people posting here sound genuine, and others sound just as manipulative as the many people benefiting out there from others hardships. Not cool. But that is life and we're not going to change that, even with this wakeup call we've been given...

I went through with delivery because I signed up to do so and made sure I had the means to do so, even with it all being about a year early. Very fortunate and appreciative that I could, but that wasn't an accident. For those who genuinely can't swing this, I feel for you and hope your situations improve. For those seeing this as some kind of opportunity, I feel bad for you in a different way.

ẞ

 

[qdeathstar]

Meh. If it ends up that bad it ends up that bad. Not worried about it. I’ll either be poor with a tesla or poor without a tesla. I’d rather be bored with a tesla... Least till they repossess it.

 

[unitrecord]

I want to help support our economy. Our family certainly doesn't NEED another car right now. If my car is already built and can be delivered in a safe manner that respects state and national guidelines, I stand ready to pay cash (no trade-in) for the Model Y that I reserved last May. The money is in the bank, waiting for Tesla to make the next move. If my car is delivered, the state of Illinois would receive over $3000 in sales tax revenue. If my car is delivered, I would hire a local electrician to install a Tesla wall connector in my garage.

I am extremely fortunate to earn my living in an "essential" business -- I grow corn and soybeans on my family farm. I am confident that the US farm economy will remain healthy. ...

 

[empiredown]

I want to help support our economy. Our family certainly doesn't NEED another car right now. If my car is already built and can be delivered in a safe manner that respects state and national guidelines, I stand ready to pay cash (no trade-in) for the Model Y that I reserved last May. The money is in the bank, waiting for Tesla to make the next move. If my car is delivered, the state of Illinois would receive over $3000 in sales tax revenue. If my car is delivered, I would hire a local electrician to install a Tesla wall connector in my garage.

I am extremely fortunate to earn my living in an "essential" business -- I grow corn and soybeans on my family farm. I am confident that the US farm economy will remain healthy. ...

This.

Well done. Well said.

ẞ

 

[Xenoilphobe]

If I were looking at a Tesla, it would only be for the ones with Bio-Defense Mode.

 

[Dr. J]

34 responses to a first time FUD poster? This forum has lost its cynicism.

 

[jbcarioca]

Because I can afford to I am accelerating a handful of projects I had planned for next year. Basically those are house maintenance things. Independent construction workers really haven't much financial reserve. Maintaining social distancing is a trifle difficult but everyone is being cooperative.

My Y remains on order and I'll take it when it comes.

Despite paper losses I'm Ok. OTOH now there is need to help a number of other people survive. Recovery from this will be messy. I've lived through several major upheavals. Life does go on, but the dislocations are horrendous. Not buying things like cars will make the situation worse.

Optics are an entirely different issue.

 

[LasVegas2019]

Yes the world is ending economically. It will be a depression, not a recession. All caused by China. There must be retaliation, but I digress. I figure it this way. I just financed my Y and when the economy completely crashes I will stop making payments and get a almost free car! The banks cannot repo millions of cars so they will just write it off if they even stay in business. The new currency will be cigarettes, booze and ammo. Now that I think about this I may go buy a $500,000 Class A RV. Finance the max and again..just stop making payments after the collapse! I like it!

 

[FredMertz]

The guy who initially pushed the doomsday model that said 2million dead in the U.K. alone has said he was all wrong and is now talking 20k. Which is awful but is a lot less awful.

It will take time but I am optimistic this will bring more manufacturing back to the USA which leads to a possibility of making us stronger economically than we were. Then again people have short memories and might not learn anything.

This is a dangerously untrue statement given what he actually said and especially with the death total already approaching 30,000. Whatever news source you're using -- you should find a better one.

 

[Supernaut]

I really hope you are right, but all the models severely disagree with that level of optimism.

lets hope the models are wrong, but I suspect they are not wrong ;(

All models are wrong. Some are useful. Most of what I’m seeing in the media right now is VERY useful, at pumping up their own ratings and clicks. Predicting pandemics, not so much.