OP already missed the financial boat by not purchasing a $40,000 dream Tesla plus qualifying for the $7,500 Federal Tax Credit (net cost $32,500). That ship has now sailed, and the price of admission has gone up. His values have been inhereted by his wealthy Dad's policy of purchasing $15,000 used cars and driving them for 10 years. Dad probably does this because he has endured hard times before, and is reluctant to spend any of his wealth. OP is currently a Millionaire. If he keeps to his plan, he will most probably die a Multi-Millionaire. I see this thinking a lot. Many people with lots of money are hesitant to spend any of it. They want to keep as much as they can. They do without and feel great about it. Have a neighbor that is a Multi-Millionaire. His stock portfolio has grown as he has aged. He will never spend any of it because he does not want to pay the Taxes. Government will take all this when he dies anyways. Others are the other way. They not only spend everything they make, but also everything they can borrow. They want all the shiney stuff and a YOLO attitude. They get lots of stuff and feel happy, but also have lots of anxiety about ever getting out of deep debt. OP has the finances to easily get the Tesla he wants. WIll cause no financial stress and great enjoyment of driving the car of his dreams. Buying a new Model 3 is a stretch for many, but not for him. Maybe now is the time for him to go for it. Tomorrow is never guaranteed and life is more than drinking cheap wine and driving junky cars. My GF drives an i3, and it is more of a toy than a real car. It has been in the shop a lot and that "range extender" scooter motor is just stupid. It drains all the enjoyment of the drive when it is engaged. It makes a good city car and parks easily, but is terrible for long trips. Those goofy suicide doors make carrying passengers uncomfortable for everyone. OP has already made the decision to by a used i3, but it has given him little joy. His dad may think he is crazy, spending "all that money" on a car, but OP is not his dad. These are good days for OP and his family. Imagine they will have years of enjoyment from their new Tesla. Will not cause financial distress.