Can I/Should I Buy LR AWD

[MaxAdolphus]

The question that has been asked 1000 times already, but decided to post it anyways knowing the ultimate decision comes down to a case by case basis, but here I am doing it anyways. Fire away and poke holes anywhere you see them. Feedback for or against is all welcome. The most expensive car I’ve ever bought was a $32k car, so this is a big jump. Anyways, here’s me.

I’m 42 and make $120k a year at a stable job. I love my job. I have a stay at home wife and 2 kids, a 12 yo being the oldest. I currently drive a 2016 i3. I was an original launch day Model 3 reservation holder, but backed out after realizing I was never going to get $7,500 credit off a $35,000 car. Got a used $19k i3 instead. I can’t stop thinking about it. This is my dream car. For as long as I can remember as a kid building and racing RC cars, I’ve wanted an EV. I’m a big EV fan. It’s my hobby.

Back to the financials. Like I said, $120k gross salary. I max out my 401k every year and almost have a million in net worth. In 2010, we did the opposite of most people and sold the McMansion and bought a smaller foreclosure, fixed it, and now live comfortably with our $860/mo mortgage payment (included P&I, and taxes and insurance escrow). I want to pay for my kid’s college.

So I ask, do I pull the trigger? I’m struggling doing so even though I think the math works out. Like I said, this would be by far the most expensive car I’ve ever bought. And this is me raised by my mother and father who are very well off, but my father always buying $15k used cars and keeping them for 10 years. I’m I stupid for not following his footsteps that have worked out very well?

Thanks in advance of letting me ramble on and on. I need people to push me or pull me from this ledge.

 

[07e92]

I feel SR+ is a better fit for you if the range is fine for your commute, and if concerning the full price, consider putting 15k down and finance the rest. However, even with the LR AWD, with your assets and equities, you should be fine.

 

[jjrandorin]

Hmm...

Well this is a very personal thing, but I happen to believe that one of the reasons we work, is to get the things we want as well as the things we need. Once we take care of the things we want, there is nothing wrong with splurging or treating yourself a little.

You already live the EV lifestyle, and this is something you want. You already set yourself up financially, and are covering all the things you need to do, and then some. I see no reason why you shouldnt treat yourself.

On the SR/SR+ vs LR AWD I would just say that, while you would likely be fine range wise with an SR or SR+ (you are living with an i3 already so...), I happen to like the premium audio, you have 2 kids so they might enjoy the rear heated seats, and its my personal opinion that, having more range in an EV is better than having less, IF one can afford both, which I believe you can based on what you state.

Again, just my .02

 

[yerEVan]

Sell a kid, get a Tesla. I did.

 

[MaxAdolphus]

I feel SR+ is a better fit for you if the range is fine for your commute, and if concerning the full price, consider putting 15k down and finance the rest. However, even with the LR AWD, with your assets and equities, you should be fine.

thanks for the reply. I have a 5 mile commute, but I do not want a SR+. I want the AWD. A bit crazy, yes, but I want the AWD. I just don’t want regular old RWD (even though I’m a fan of some cars in RWD). I’m a bit of a car nut, but trying to balance sanity vs “YOLO!”

 

[ElectricIAC]

The question that has been asked 1000 times already, but decided to post it anyways knowing the ultimate decision comes down to a case by case basis, but here I am doing it anyways. Fire away and poke holes anywhere you see them. Feedback for or against is all welcome. The most expensive car I’ve ever bought was a $32k car, so this is a big jump. Anyways, here’s me.

I’m 42 and make $120k a year at a stable job. I love my job. I have a stay at home wife and 2 kids, a 12 yo being the oldest. I currently drive a 2016 i3. I was an original launch day Model 3 reservation holder, but backed out after realizing I was never going to get $7,500 credit off a $35,000 car. Got a used $19k i3 instead. I can’t stop thinking about it. This is my dream car. For as long as I can remember as a kid building and racing RC cars, I’ve wanted an EV. I’m a big EV fan. It’s my hobby.

Back to the financials. Like I said, $120k gross salary. I max out my 401k every year and almost have a million in net worth. In 2010, we did the opposite of most people and sold the McMansion and bought a smaller foreclosure, fixed it, and now live comfortably with our $860/mo mortgage payment (included P&I, and taxes and insurance escrow). I want to pay for my kid’s college.

So I ask, do I pull the trigger? I’m struggling doing so even though I think the math works out. Like I said, this would be by far the most expensive car I’ve ever bought. And this is me raised by my mother and father who are very well off, but my father always buying $15k used cars and keeping them for 10 years. I’m I stupid for not following his footsteps that have worked out very well?

Thanks in advance of letting me ramble on and on. I need people to push me or pull me from this ledge.

Honestly, in your position I’d be buying a raven Model S LR.

But if you like the model 3 get the model 3, do you self a favor and check out the stealth performance.

 

[MaxAdolphus]

Hmm...

Well this is a very personal thing, but I happen to believe that one of the reasons we work, is to get the things we want as well as the things we need. Once we take care of the things we want, there is nothing wrong with splurging or treating yourself a little.

You already live the EV lifestyle, and this is something you want. You already set yourself up financially, and are covering all the things you need to do, and then some. I see no reason why you shouldnt treat yourself.

On the SR/SR+ vs LR AWD I would just say that, while you would likely be fine range wise with an SR or SR+ (you are living with an i3 already so...), I happen to like the premium audio, you have 2 kids so they might enjoy the rear heated seats, and its my personal opinion that, having more range in an EV is better than having less, IF one can afford both, which I believe you can based on what you state.

Again, just my .02

im sitting here having an internal battle between my ration side and my irrational “car guy” side. I can justify almost anything, like saying, “well, the extra cost of the Tesla is cheaper than some people spend to hit a ball with a stick into a hole in the middle of a field”. I’ve been having the internal battle for almost 3 years now, and it’s on the verge of driving me crazy.

 

[MaxAdolphus]

Honestly, in your position I’d be buying a raven Model S LR.

But if you like the model 3 get the model 3, do you self a favor and check out the stealth performance.

The stealth mode is the “perfect” car for me. Wife would get the softer ride she likes, and I’d get the crazy acceleration. Win across the board.

 

[jkoya]

Sounds like you can afford either one, so I would go for the LR AWD because of the increased range.

Did your i3 have the range extender and did you ever go on a road trip with it ? The LR AWD would be great for a spontaneous road trip. Just a thought ....

 

[ElectricIAC]

Sounds like you can afford either one, so I would go for the LR AWD because of the increased range.

Did your i3 have the range extender and did you ever go on a road trip with it ? The LR AWD would be great for a spontaneous road trip. Just a thought ....

Take it from someone who sells BMW’s as a side job. Range extender or not the i3 isn’t a road trip car in the least. BMW made sure of this by sticking the tiniest gas tank in it they could get away with.

 

[lencap]

I owned 2 i3s before buying my LR RWD M3 last November. The M3 is worlds better than the i3 in every way, but only you can decide how much the difference is worth to you. What I'd consider in your shoes is that you are very thoughtful and conservative with your expenditures. Given that, if you buy the current version of the M3 would you be content owning that car for a decade knowing that in a few years it's likely that the "new" M3 will likely have a newly designed 400-500 mile battery pack, charge faster than current M3 versions, and be built to provide "1,000,000 mile life" according to Elon. As a comparison today's car is a "250,000 mile" car. If those changes come about the current car will still be perfectly serviceable, but maybe not as versatile as a new model might be. If the M3 is your dream car, is there a significant risk from your perspective waiting for it to grow into it's full potential as Elon outlined? Your children are still young, as are you, and waiting a bit to see what develops may not be a bad strategy.

You can also drive the i3 with little financial risk, and despite not being an M3, I enjoyed the car. I had both the BEV and the Rex, and the Rex was more useful because of the added range. Both of the i3s were upgraded models with higher trim and "toys". An updated M3 may be similar to the difference between i3 models - they are both serviceable, but the BEV is very limited in relative terms compared to the Rex.

 

[OCR1]

Where is Suze Orman when we need her?

Well, if you called into her “Can I Afford it?” Segment on her show, I think she would probably tell you to stop worrying and just buy the car.

 

[jkoya]

Take it from someone who sells BMW’s as a side job. Range extender or not the i3 isn’t a road trip car in the least.

So true....

 

[MaxAdolphus]

Sounds like you can afford either one, so I would go for the LR AWD because of the increased range.

Did your i3 have the range extender and did you ever go on a road trip with it ? The LR AWD would be great for a spontaneous road trip. Just a thought ....

The i3 has the REx. I’ve never taken in on a road trip. We have a Sienna minivan for that. The REx is just a little 650cc insurance policy on a car with a 72 mile range on a good day (I have a heavy foot). But with free chargers at work and a 5 mile commute, I have no interest in any “eco” driving. But the i3 is coming up on its end of the factory warranty in June, and from what I’ve seen, I don’t want to own a nightmare of a BMW out of warranty.

 

[jkoya]

The i3 has the REx. I’ve never taken in on a road trip. We have a Sienna minivan for that. The REx is just a little 650cc insurance policy on a car with a 72 mile range on a good day (I have a heavy foot). But with free chargers at work and a 5 mile commute, I have no interest in any “eco” driving. But the i3 is coming up on its end of the factory warranty in June, and from what I’ve seen, I don’t want to own a nightmare of a BMW out of warranty.

IMHO, If you have a heavy foot, I would go for the LR AWD version. I bought the Performance and the jack rabbit starts haven't gotten old for me yet. What does the wife say ?

 

[MaxAdolphus]

I owned 2 i3s before buying my LR RWD M3 last November. The M3 is worlds better than the i3 in every way, but only you can decide how much the difference is worth to you. What I'd consider in your shoes is that you are very thoughtful and conservative with your expenditures. Given that, if you buy the current version of the M3 would you be content owning that car for a decade knowing that in a few years it's likely that the "new" M3 will likely have a newly designed 400-500 mile battery pack, charge faster than current M3 versions, and be built to provide "1,000,000 mile life" according to Elon. As a comparison today's car is a "250,000 mile" car. If those changes come about the current car will still be perfectly serviceable, but maybe not as versatile as a new model might be. If the M3 is your dream car, is there a significant risk from your perspective waiting for it to grow into it's full potential as Elon outlined? Your children are still young, as are you, and waiting a bit to see what develops may not be a bad strategy.

You can also drive the i3 with little financial risk, and despite not being an M3, I enjoyed the car. I had both the BEV and the Rex, and the Rex was more useful because of the added range. Both of the i3s were upgraded models with higher trim and "toys". An updated M3 may be similar to the difference between i3 models - they are both serviceable, but the BEV is very limited in relative terms compared to the Rex.

Understood. And I understand buying into tech become outdated the minute you buy it. My original plan was to wait for the Model Y’s to hit the market, which I believe will trigger the market correction in the Model 3 used market, then buying a used Model 3. The used Model 3 market is ridiculous at the moment. However, I’d be rolling the dice on the i3 out of warranty if I wait.

 

[MaxAdolphus]

IMHO, If you have a heavy foot, I would go for the LR AWD version. I bought the Performance and the jack rabbit starts haven't gotten old for me yet. What does the wife say ?

She will roll along with it. She’s not a car person at all. Every car purchase I’ve made she’s always like “why?”, but no matter what she just doesn’t care. She sees cars as appliances.

 

[ElectricIAC]

Understood. And I understand buying into tech become outdated the minute you buy it. My original plan was to wait for the Model Y’s to hit the market, which I believe will trigger the market correction in the Model 3 used market, then buying a used Model 3. The used Model 3 market is ridiculous at the moment. However, I’d be rolling the dice on the i3 out of warranty if I wait.

Any out of warranty BMW is more expensive than paying current market price premium on a model 3.

In any case I’m firmly in the camp that anyone expecting Y to tank 3 values Is going to be in for a rude awakening. This isn’t like an Altima vs Rogue or Camry vs RAV4.

 

[Mo City]

Do you really feel that concerned about the i3's engine and/or transmission that you can't drive it 6-12 mos post-warranty?

I ask because my recommendation is you keep the i3 until the Model Y comes out.

Regardless, you will not regret getting a LR AWD. It is a super car. Had mine 16 months and I am more excited than the day I picked it up.

 

[ellett]

If you live and work in a large metropolitan area like NYC, LA or the San Francisco Bay Area, you can go with the SR+ with no worries.SR+ range and the traction you get with 2WD will be enough. And there are Superchargers everywhere in most meropolitan areas, but you won't need them if you install a level 2 charger at home.

If you like to head off on road trips or do a weekend in the mountains, get the LR AWD for the four wheel drive. The AWD makes the M3 stick to the road like glue even when the road conditions are marginal. And in my case, I sometimes head up from the Bay Ara through Yosemite, and the range is comforting given that I haven't found any charging within the confines of the very, very large park.

Contrary to some others' opinions, forget the stealth or performance unless you like to go out drag racing on weekends. The AWD has all the acceleration you'll need on the road; step on the pedal and you'll feel like you're a watermelon seed that someone has squeezed between their fingers. I have to be careful on the on-ramp to the Interstate or within a few seconds I'll look down and see I'm hitting 90 and climbing. The best word I can use for the feel of the car is "authoritative"; you know you have ALL the power you need instantaneously when you need it.

There are some other perks for getting the LR AWD, such as the best auto sound system in the world (per the opinions of multiple professional reviewers), heated seats, etc.