Buy now or wait?

[patrick80132]

We're discussing options and we think we will defer buying a house for a year, overpriced at the moment!

So now we just need to decide between

• LR AWD or RWD (LR as we take several long road trips a year)
• Tesla loan or bank loan. We can get 3.35% from bank.
• Buy right now, or wait till quarter end for possible deals on inventory at local Tesla dealer

Opinions welcome on all the above!

I agree houses are overpriced at the moment. Personally I think a big market correction is headed our way. Way to much optimism in the population right now. Good signal for a correction IMHO. However, correction will hurt Tesla as well. Prices could come down if inventory sits around too long. Tax credits will drop. My head spins and I wish I had a crystal ball.

 

[patrick80132]

Buy it now. If the price decreases after your purchase, you can always create a new thread to complain about it.

Prices just went up $400 on new M3's

 

[dmurphy]

No, I'm complaing about the $4k overnight depreciation I experienced, which I could overlook if they weren't still asking another $6k for FSD after I already paid $5k for EAP. As it stands right now, the exact spec of car I bought can be had for $4k less than what I paid, plus, it comes with HW3 for FSD, while I'm stuck on HW2.5. To get my car up to HW3 with future FSD capability, I have to finish paying $10k more than an identical brand new car would cost right now. $10,000 > $250 (40x over)

You didn’t experience overnight depreciation - someone just got a different price on their vehicle than you did on yours.

Your vehicle depreciated the second you drove it off the lot, and continues to do so.

I bought my wife’s Enclave in November of 2017. In November 2018, the same model/year was on closeout for $10k less.

That doesn’t mean mine depreciated by $10k, but someone paid less than I did. Doesn’t change my vehicle one iota.

I almost wish Tesla were less transparent with their pricing. It’d stop people from worrying so much.

 

[verystandard]

Prices just went up $400 on new M3's

They will went down before the quarter ends. I fell for this trap back at March when they "announced" price will raise up and better buy it before its too late that kind of thing.

Wait for the inventory model to pops up and cash ready for the right car.

 

[verystandard]

You didn’t experience overnight depreciation - someone just got a different price on their vehicle than you did on yours.

Your vehicle depreciated the second you drove it off the lot, and continues to do so.

I bought my wife’s Enclave in November of 2017. In November 2018, the same model/year was on closeout for $10k less.

That doesn’t mean mine depreciated by $10k, but someone paid less than I did. Doesn’t change my vehicle one iota.

I almost wish Tesla were less transparent with their pricing. It’d stop people from worrying so much.

Yes, either more transparent, all online sales, a more consistent communications from corporate and get rid of the traditional salesperson+showroom, or completely eliminate the online sales tactics and all sales done in the traditional salesperson+showroom. Can't have it both ways and neither one of them do an excellent job. That's just my 2 cents

 

[Stirfelt]

Admittedly, I have not read the entire thread.

Responding to the initial inquiry:

Back in mid 2017 I submitted the $1k initial deposit.
Then I started reading about build quality; frequent trips to the SC to correct defects and dissatisfaction with the repairs.When I read that defects are to be expected with a Tesla ownership. I requested and received my $1k back.

I weighed the reduction in the federal incentive, and concluded it really didn't matter.

I am a senior and questions about build quality must be resolved before I consider a purchase.
It will be terribly inconvenient to take the car to the SC (150 mile round trip).Ya, ya, I know all cars have problems (I've read that repeatedly) .... but my 2015 Toyota hybrid has not been to the SC once except for oil change, tire rotation, and tires in 85k miles.

The Tesla M3 is the best looking vehicle available (IMHO). I am committed to the EV (I drive a hybrid). However, "need" has exerted it's influence over "want" and I do not "need" a new car.

I want Tesla to succeed. My brother has an "S" and he swears it's the best vehicle he has ever owned. My concern is the "3" is not built to the same quality .... and that has me "in irons" (a sailing term).

 

[Pollards07]

I have the same dilemma. I'm thinking about this for a few months, I ready to buy it now, but my wisdom says me wait for a little. I think it is reasonable to wait for the price will come down.

I waited 18 months, I should have bought in March when AP and FSD were on sale for 5000 together. That was the tipping point I think. I saw it raise 3% then heard about May price hike & ordered on Apr 28. It was time. I saved 2000 by ordering that day. LR RWD M3 blk with white int for 48500 with one free upgrade. so So (47500)Tesla model 3 now 49950 with FSD $6k it was 5k when I ordered. When its right 4 u, do it. But sooner is always better than later. Other ev's are coming but there starting higher to get back there R&D so I think now. 5 yrs from now I will want a Y or used X. Best of luck to you

I have the same dilemma. I'm thinking about this for a few months, I ready to buy it now, but my wisdom says me wait for a little. I think it is reasonable to wait for the price will come down.

 

[smashcz]

So many people talking about tax credit. I will not get any tax credit (I never pay any tax when I do taxes). Do most people get this tax credit or no? Most people I know would not get any credit.

 

[Moze1021]

So many people talking about tax credit. I will not get any tax credit (I never pay any tax when I do taxes). Do most people get this tax credit or no? Most people I know would not get any credit.

If you don't pay any taxes and you can afford a Tesla, something seems off.

When you file your taxes, you are saying you get all of your federal withholding back and have 0 federal tax liability?

Or the more likely case is that your withholding is set up appropriately and you do not owe any taxes and do not receive a refund when you file. Your liability is about equal to what was withheld from your paycheck. In this case, as long as your liability is greater than the EV credit for the manufacturer/timing of your delivery, you will get the credit

 

[Moze1021]

So many people talking about tax credit. I will not get any tax credit (I never pay any tax when I do taxes). Do most people get this tax credit or no? Most people I know would not get any credit.

@smashcz Just building on my last post...

If, for example, you are single with no kids and have just ~$45K in federal taxable income and take the standard deduction with no other credits, you should be able to take advantage of the entire $3750 tax credit because you tax liability would be ~$3750.

No EV purchase:
If someone was in the situation above and was paid every 2 weeks and had W-4 withholding set up correctly, then their employer would withhold ~$144 from every paycheck for federal taxes. Then when they file taxes the following April, they would owe nothing and get no return.

W/ EV purchase:
If that person got a Tesla in January 2019, they would get a refund of $3750 when they file taxes due April 2020. If that person was super smart, they would have adjusted their withholding to be lower that $144 per paycheck and would have gotten most of that $3750 in each paycheck instead of waiting >1 year for it.

 

[UnderCharged]

So sorry to hear. Much more important to have a solid roof and floor over and under your feet than a shiny new car.

(Been there! Basement flooded due to a poorly installed sump pump in hurricane Irene a few years back. New roof 2 years ago - that was $30k I didn’t like spending!)

Thankfully the home’s stable for now - and my lease was up - so the Model 3 was in the cards this year.

absolutely, it does suck but the timing just isn't right. What sucks is i sold my truck thinking im gonna make a quick transaction but this all happened. Thank god my beater is in great shape and has been awesome, the payments and fuel saving have been a blessing over the diesel truck i sold. I consider the wait to add more excitement just like it did to everyone else who had to wait.

 

[Jsorell]

Was thinking about waiting until August but glad I bought last week. Got it right before a $400 increase, got 5,000 free supercharger miles (May promotion) and will take advantage of that $3,750 tax credit.