AlanSqB
Dog Chauffeur
My wife and I both work in healthcare. We are kind of holding on to this being a nice distraction from all things Covid-19. A nice drive in a fun car is something to look forward to, whenever it finally happens.
Anyone considering delaying their purchase due to Market Downturn related to Corona virus?
- Thread starter m3-ricardo
- Start date
You should sue every news and government outlet for using your name without paying a licensing fee.
looks like i'm going to be taking a pass on the car for now .. although i can still afford it .. just doesn't make sense to splurge on a luxury purchase when portfolio is down roughly 10% since the high point.
i'll be back to buy when market recovers.
i'll be back to buy when market recovers.
ofcorona
Member
I wish, but corona is a general word. I would a be lucky man right now !
Goodluck man! I would personally sell and once this public scare is over with, buy when its low and eventually it will go back to normal.
Its pretty much close to impossible to implement that sort of approach .. if you can time the market and do it successfully multiple times -- then you will be a billionare and should be in finance.
.. the markets will bottom out, and eventually will recover all their losses .. and we'll forge ahead .. could take months, could take years .. who knows.
-- i've gotten this far by never panicking, always being frugal when the *sugar* hits the fan, and never digging into savings for fanciful luxury items. so i have to remember those rules and stick by them ...
-- i will miss not having my own P3D now .. but i do have an AWD Model 3 LR .. i think i could just get the speed update as a consolation prize.
Time in the market > timing the market. Market fluctuations shouldn't impact your spending habits. Buy the car!!
Now is a great time to buy with cheap interest rates and it sounds like they will be getting cheaper next week. I plan on putting my Cybertruck savings account into Tesla stock if it hits $500. In 18-24 months I hope that will give me a nice down payment.
DirtyT3sla
Member
I ordered solar last week (not from Tesla) and considered delaying it... but I think I'll just move forward with it. If nothing else, the tax credit will be nice next year.
people "in finance/experts can't time the market well either. They usually make money by transaction costs by being close to waterfall, they get wet
When I looked briefly this morning, looked like a june options contract on at the money S&P was 7-8%. A three month covered call or put would pay for ~2 years of car financing. If the market comes back up, close the contract and get your cash back. If it keeps going down and you get assigned, keep it and wait for it to come back. at this price it has a 2% yield which also almost pays for car financing.
/shrug .. auto financing is so cheap.. I figure finance and invest.
/shrug .. auto financing is so cheap.. I figure finance and invest.
Tough market to call right now. The bigger concern over one's investment portfolio is if an extended economic downturn could cause extended unemployment in your household. There are a lot of industries in the line of fire right now that will lay off if the fear of Corona continues long enough to cause a recession.
I paid cash. I don't regret it. But the smarter move would have to wait a few months for this (impending) recession to impact residential RE and add a discounted property to the portfolio.
That's the better way to leverage the 60k.
But that's all in hindsight. I'm still jumping on the housing sales regardless.
That's the better way to leverage the 60k.
But that's all in hindsight. I'm still jumping on the housing sales regardless.
I thought about delaying, but I ended up moving forward anyway. I've been waiting two years to buy, and with the sale of my house, I have enough money left over to have 6 months emergency fund and still enough for a decent down payment, so I just had to go for it.
linux-works
Active Member
buy the car now and enjoy it.
soon, the zombies will come.
...and tesla has not (yet) updated the image recognition firmware to know how to avoid them (they still render as large orange cones).
get the car now before its too late. even autopilot won't function with too many zombies in the road. you thought phantom braking was bad before!
(lol)
soon, the zombies will come.
...and tesla has not (yet) updated the image recognition firmware to know how to avoid them (they still render as large orange cones).
get the car now before its too late. even autopilot won't function with too many zombies in the road. you thought phantom braking was bad before!
(lol)
AlanSqB
Dog Chauffeur
linux-works
Active Member
Happy MX owner here. My plan was to buy a Model 3 this June while holding on to the X. We are also in the process of buying a house. On Monday, I ordered Tesla Solar Panels and some Powerwalls for the new house. Between the house downpayment, the new Model 3, and the Panels and PWs, we were looking at a large outlay and were ready.
Today, I got a call from Tesla Solar and they said they needed my utility bill for the new home which I do not have yet. They would not take a bill that wasn't in my name. I gave them neighborhood averages, but I guess the utility won't take that when considering the system size they will allow to be built. Even though I was practically begging to get the planning and install going, Tesla cancelled my Solar and PW order until I can get some utility bill history to them. Although it is unfortunate, I guess it is driven by the utility.
Now, all that is left is the Model 3 purchase. Checking the site over the last week, the delivery time estimate has climbed from 2-3 weeks up to 8-12 weeks. Not sure what the reason for their suddenly longer estimates. Because of all of the uncertainty, I am just sitting on my cash not sure when to order or what to do.
The upside is, I have $100K+ ready to throw at the wild market instead of into the M3, PW, and Solar.
Today, I got a call from Tesla Solar and they said they needed my utility bill for the new home which I do not have yet. They would not take a bill that wasn't in my name. I gave them neighborhood averages, but I guess the utility won't take that when considering the system size they will allow to be built. Even though I was practically begging to get the planning and install going, Tesla cancelled my Solar and PW order until I can get some utility bill history to them. Although it is unfortunate, I guess it is driven by the utility.
Now, all that is left is the Model 3 purchase. Checking the site over the last week, the delivery time estimate has climbed from 2-3 weeks up to 8-12 weeks. Not sure what the reason for their suddenly longer estimates. Because of all of the uncertainty, I am just sitting on my cash not sure when to order or what to do.
The upside is, I have $100K+ ready to throw at the wild market instead of into the M3, PW, and Solar.
for what it's worth the jump from 2-3 weeks seems to be standard. they deliver quarterly, and the NA orders are last and wrapping up at the end of the month for quarter end. And they're wrapping up on the west coast specifically. So, if you put in a west coast zip you'll still get the 2-3 week timeline, but if you put in an east coast zip you're looking at next quarter now, you're last in line again.
Exactly what I'm doing. I suspended my M3 order to put that $55k to better use. I figure the only thing I'm sacrificing is some time driving a fun car. That's an easy decision for me. The potential upside far outweighs the downside.
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