Anyone want to team up on a savings thread to keep each other motivated?

[Ccarmac1]

I'd do the math, many loans have options to waive payments if you lose your job or get ill.

I'd weigh the cost of that service vs. the additional interest you'd pay in 3 years (or 4 or 5, etc.) and see which is a better safety net.

The loan is from a credit union and they do offer skip payment options but it's just once a year.

saving a few bucks on a interest vs a peace of mind that I can pay $200 bucks a month that I can get by selling some stuff on eBay or simply rent the car at turo for the weekend(remember only in case of emergency) vs $550 for 4 yrs.... Yeah not worth it

 

[TaoJones]

There's so much cheap money out there (1.29% - 1.49%) that it's hard to justify paying cash.

That said, don't forget the Reus audio upgrade (which they will move from car to car for labor only so it's the last audio package you'll ever buy) along with the tint, paint correction/protection, a good radar/laser detector/shifter package, dashcams, labor for those installs, various adapters (110V, 30A, and cabling, and a budget for annual servicings. Altogether with the doc fee, taxes, and registration there's probably $15,000 there if not considerably more.

So once that's budgeted, the only other concern aside from tires would be insurance and deductibles, whether to ESA or not, and windshield wiper fluid. Oh, and home charging so NEMA 14-50 or HPWC. And a buffer for excess miles if you lease - it's gonna happen.

And a nice healthy travel budget . Time more than money, really. These cars are meant to be driven, after all.

 

[LBusDoor90]

Bruv, 3's aren't coming east coast until mid/late '18 at the earliest. Also, respeck for being a (science) teacher.

That's what I was thinking and hoping, too. Excellent (...Mr. Burns running tapping fingertips together). Cheers!

 

[KeRaSh]

Great idea!

Planned budget: €50-55k.
Current savings: €16-17k

I'm currently saving 400-700€ a month without having to hold back on my regular spending (going out, buying video games, running equipment, etc.). By mid 2018 that should amount to €25-32k. I will finance the rest. If my delivery doesn't happen until early 2019 I'll just have more money on the side for the down payment.

My wife has a lot more in her bank account but we will save that for vacations and emergencies.
I never really had any financial issues but I never had a specific goal for which I wanted to save money. Now that I have one I actually think about whether I really need that expensive item that I might not use after the novelty has worn off.
Saving money for a Tesla is fun!

 

[ModelNforNerd]

Bruv, 3's aren't coming east coast until mid/late '18 at the earliest. Also, respeck for being a (science) teacher.

I think well optioned ones get to the East coast in Q1 2018.

 

[dsvick]

I'm only putting a couple hundred aside each month, between that, my reservation $, and a trade in I'm hoping to have $8 - $9,000 down. We're putting more money into paying off higher interested rate debt though and should have a few things paid off by the end of 2017 that should just about equal the payment for the M3. At least that's the plan ...

 

[dsvick]

Bruv, 3's aren't coming east coast until mid/late '18 at the earliest. Also, respeck for being a (science) teacher.

According to an Elon tweet a month or so ago, everyone that waited in line (I assume in the US only) should have theirs by the end of 2017. Yes, a lot of things have to go right for that to happen but I'm hopeful. Especially since my Corolla will be 8 years old and be pushing 175,000 miles by then.

 

[wilhelmspencer]

Budget: 42-45K
Savings: Pay off existing debt, trade-in value, some savings

Our main method of "saving" at this point is by paying off existing debt (student loans, ICE car, etc).

We have savings but it is there for emergency only (loss of job(s), injury, etc, etc.)

Hopefully our car will be fully paid off before our Model 3 comes. Then we can use that as nice trade-in value on top of whatever else we decide to put down for a down payment.

 

[yogi32]

Budget: $45k
Savings: $45k

After landing a job right out of college over 7 years ago I've been saving money every month preparing for this mass market model. Owning a Tesla has been a dream of mine ever since I saw the Roadster back in college. I can't wait!

 

[Mark C]

Been throwing my checkbook at the house payment for the past year to get it paid off before having to pay for the Model 3. I'm just jazzed to be here. Budget is $45k, expect to have $5k for down payment, the balance on a 2% or less APR credit union note over 60 months.

As for extras immediately after purchase, I'll have enough money to buy some good quality car wash soap and Meguires wax, +/-. We already have the house wired with a 50A circuit and I expect to buy a 40A EVSE so I can be ready to ride more frequently than 120V 12A would allow. {39 mile RT commute + joyriding in our new Model 3!}

 

[ICEBreaker]

Budget: $50k
Saved: $10k
As appealing as the Model 3 is, a used model S has been calling my name. Im trying to hold off for a year to decide which way to go.

 

[Warrentt]

For all of those wanting to track your monthly budget or set a budget for saving....Try using an app called MINT.

It's pretty neat and I recently use it.

 

[Max*]

For all of those wanting to track your monthly budget or set a budget for saving....Try using an app called MINT.

It's pretty neat and I recently use it.

Mint is a great app, but I'm reluctant to have one app that is linked to all my bank account information/credit cards/etc..

And given the history of sites being hacked, I don't want one site that'll be hacked and ALL my info released (call your credit card companies to confirm: but they likely will not cover you for any transactions that were made from a data breach on a 3rd party site. Something in their TOS states that in order to be protected from fraudulent transactions, you shouldn't give your login info to 3rd parties). And I do know that Mint has never had a breach, yet.

Same reason I avoid apps that store my passwords. Hack one app, and you have ALL my login info? No thanks.


But this is just my perspective. I'm not advocating anyone stop using mint. Just weigh the pros and cons.

 

[jsrawa]

Looks like many are budgeting about $45k for their Model 3 based on the limited responses here. Not surprised it's slightly higher than the average Elon presented given this forum represents a lot of the true fans of Tesla. I'm sure their are many here who will go fully loaded too.

 

[ICEBreaker]

Looks like many are budgeting about $45k for their Model 3 based on the limited responses here. Not surprised it's slightly higher than the average Elon presented given this forum represents a lot of the true fans of Tesla. I'm sure their are many here who will go fully loaded too.

Just my personal opinion, but I think I would rather spend about $45-50 on a used MS vs $45-50 for a M3. BUT I would totally spring for $60k on a M3 with no options as long as it was P90D, though Im not sure what the pricing structure will be.
In other words; No options with Ludicrous M3>Used Base Model S>More options model 3 no Ludicrous.
But overall I think the $45 is the sweet spot!

 

[nickpants]

About 10k in cash saved, most of which is invested in a Betterment account that i contribute a few hundred every month. And i'm hoping for about 7k equity in my trade in/sale of my current car.
I'm aiming to put down about 25k. and I'm hoping i can keep the final cost under 55k... white seats,AP,SC...and dreaming of a PXXD

 

[LBusDoor90]

Just my personal opinion, but I think I would rather spend about $45-50 on a used MS vs $45-50 for a M3. BUT I would totally spring for $60k on a M3 with no options as long as it was P90D, though Im not sure what the pricing structure will be.
In other words; No options with Ludicrous M3>Used Base Model S>More options model 3 no Ludicrous.
But overall I think the $45 is the sweet spot!

Each time I have held this debate in my head (used MS vs. new M3), it doesn't last long because of the unknown use and abuse the S battery may have endured and the evolution of the 2170 battery that will have occurred by the time the 3 actually goes into production. That, and the fact that the S will just BARELY fit in my garage and simply parking/backing it out there would be an overly anxious activity.

 

[wilhelmspencer]

Wow this thread went on a tangent...

 

[Max*]

Wow this thread went on a tangent...

How often are we updating our savings? I'm still at $0.08! :woohoo:

 

[SuperOmega]

Trying to keep things simple: From my credit union, thinking about opening up a money market account, keep putting money into it, then in 2+ years, make a down payment, then finance the rest of it through the same credit union @ a 1.99% APR w/a 5-year loan. If I'm resourceful, hope to pay it off sooner than that.