Anyone considering delaying their purchase due to Market Downturn related to Corona virus?

[m3-ricardo]

I'm considering delaying my P3D+ order. Given the current market downturn, and rising concerns about this virus.

This was going to be my second Tesla, but now thinking that it would be best to keep 60k+ in my pocket in case we see a prolonged downturn.

This would be our second m3, don't know if now is the time to splurge anymore.

Anyone else considering waiting?

 

[MorrisonHiker]

Maybe consider financing it instead of paying cash? We're still going ahead with our purchase but won't be paying cash for this one.

 

[glide]

Maybe consider financing it instead of paying cash? We're still going ahead with our purchase but won't be paying cash for this one.

This. Why don’t you let someone else give you the $60K @ 2% if it’s that big a deal?

 

[m3-ricardo]

i think thats an option -- hate the idea of carrying debt.. but an option ..

i know its more of a knee jerk reaction to the current panic in the markets .. but since delivery is still weeks away, i'm in a wait-and-see pattern .. in the end i can probably extend my delivery time by just becoming unavailable to take delivery (they will give the car to someone else) ... i wonder how long you can delay delivery and not loose your $100 order fee.

 

[ofcorona]

The coronavirus is just a public scare right now. market is down, will be back up.
Financing is a great option, and yes it debt, but its technically not a bad debt. Put your 60K in an investment that will make you money.

 

[byeLT4]

The coronavirus is just a public scare right now.

Seems like fishy advice considering your username.....

 

[IDRVSLO]

Seems like fishy advice considering your username.....

Hah...
I was going to finance regardless so it has set changed my mind. I hope it changes others as that could mean I’d get my car faster.

 

[ofcorona]

Seems like fishy advice considering your username.....

HAHA! You are right, but I was born with this last name lol

 

[m3-ricardo]

Hah...
I was going to finance regardless so it has set changed my mind. I hope it changes others as that could mean I’d get my car faster.

i think if you were planning to finance this turn of events helps you -- i suspect that interest rates are about to drop .. and car loans might get slightly cheaper.

 

[anon125110]

Indirectly yes, sales in China are half of what they had in december (source: Tesla China may have to worry about sales more than coronavirus - Roadshow)

Im hoping this means price drop at some point. So I am waiting. Worst case Ill just get it for same price it is now... best case, a price drop happens to prop up sales. I didnt watch the actual quarter end presentation a few weeks ago, but Ive read that Tesla anticipated to produce more model 3's this year than they sell (for the first time). Im guessing this was based on how they were doing last year in terms of sales. If sales are down to half now though, then one of 3 things has to happen:

1. They significantly drop production. (Unlikely)
2. Model 3's sit in full lots waiting for buyers.
3. They do something to incentivise sales. (this one is more likely than others because they raised the price last year, they can drop it back to what it was 12 months ago and come out on top).

Either way, we'll see whats up in a few months, maybe not end of this quarter, because full Coronavirus repercussions wouldn't hit by then, but by end of Q2 when US deliveries are happening... that will be interesting.

Again, I have no idea what will actually happen. This is just me sharing my thought process, I could be completely wrong. Great thing is that if I am completely wrong, then nothing changes and I get M3 at current price

 

[AlanSqB]

The thought crossed my mind, but I figure I've got at least 2-3 more weeks to see what happens and make that decision. I'll probably go ahead with it since I was going to finance anyway.

Does the 3 come with the biohazard filter?

 

[outdoorsaddix]

I feel a bit of general unease, but if everyone panics over this thing the economic damage is going to be many times worse than the virus itself. I am going ahead as normal and financing it.

 

[Gize]

I'm considering delaying my P3D+ order. Given the current market downturn, and rising concerns about this virus.

This was going to be my second Tesla, but now thinking that it would be best to keep 60k+ in my pocket in case we see a prolonged downturn.

This would be our second m3, don't know if now is the time to splurge anymore.

Anyone else considering waiting?

Glad you created this thread, I was considering doing the same. I have been saving for two years as well as investing in stocks in the hopes of putting half down on my P3D. I lost 25% of my down payment (invested stocks) in five days; haven't sold but value wise. On top of that my CU only offered me 75% of the car value as I told them I was putting half down. I also was putting aside 6k for full wrap, tint and ceramic coating. Now I am considering asking my CU if they will up the loan amount (my debt to income is great but they got pissy with me holding their feet to the fire for rate matching from 2.89% to 2.38% so they lowered the loan amount and term when they agreed to rate match)

So now I don't know what to do but wait and hope I get my 25% (or close to that) back before delivery day comes.

 

[dsgerbc]

I'm considering delaying my P3D+ order. Given the current market downturn, and rising concerns about this virus.

This was going to be my second Tesla, but now thinking that it would be best to keep 60k+ in my pocket in case we see a prolonged downturn.

Market decline =/= downturn. The stock market was getting extremely disconnected from economic fundamentals over the past 3-4 months. As of right now we're back to early October'ish, which isn't scary at all.
Near-term corporate profits will suffer, sure. Economic downturn would require a considerable contagion stateside, economically-disruptive containment measures etc. Which may be coming, but are by no means certain. There are still plenty of unknowns about the virus.

If there is a significant epidemic stateside, it won't be too disruptive. There may be a recession for 2-4 quarters, but I doubt we are in for a prolonged downturn, and the recovery after an external-shock-driven recession is likely to be fairly vigorous.


It probably makes sense to wait a few weeks, to see if there is more clarity.

 

[OCR1]

I don’t keep any money in the stock market that I need to use to cover expenses for the next 3 years. There is too much volatility in the markets to leave money invested if you need to use it in the short term.

But regardless, these kind of corrections tend to rattle people and have them second guess their purchases. But if you look at long term stock market performance, this will eventually just be a small blip in the long term market returns that nobody will even remember.

 

[vigleik]

Indirectly yes, sales in China are half of what they had in december (source: Tesla China may have to worry about sales more than coronavirus - Roadshow)

Fun fact: Tesla sells most of their cars in the third month of every quarter, so January sales are down compared to December sales everywhere. Every year. Same with April, July and October sales.

Another fun fact: In the second month of every quarter of every year there are articles about how Tesla is doomed because of a month over month sales decline in some location.

 

[anon125110]

Fun fact: Tesla sells most of their cars in the third month of every quarter, so January sales are down compared to December sales everywhere. Every year. Same with April, July and October sales.

Another fun fact: In the second month of every quarter of every year there are articles about how Tesla is doomed because of a month over month sales decline in some location.

Good to know, thanks!

 

[m3-ricardo]

Nice to see that i'm not the only one second guessing my purchase..

I agree with those who say that we're in a wait-and-see state at the moment. -- I feel like I have many options, i could take delivery, and either cough up the cash, or take a loan, or a combo of the two. -- I could also delay the delivery by becoming unavailable when the car arrives (they will give it to someone else), and if i do that enough, i think i would just get bumped to the end of Q2 (june?) .. as we enter the next cycle.

If i didn't already have a model 3 in the driveway this would be a much different story.

 

[Rhinodad]

I'm considering delaying my P3D+ order. Given the current market downturn, and rising concerns about this virus.

This was going to be my second Tesla, but now thinking that it would be best to keep 60k+ in my pocket in case we see a prolonged downturn.

This would be our second m3, don't know if now is the time to splurge anymore.

Anyone else considering waiting?

Finance the car. At current rates the interst is minimal. You can always pay it off when the markets stabilize.

 

[SDM44]

I'm not delaying my purchase because of the coronavirus, but I'm hoping that the coronavirus doesn't delay my purchase from last month & receiving a delivery date in March.