Welcome to Tesla Motors Club
Discuss Tesla's Model S, Model 3, Model X, Model Y, Cybertruck, Roadster and More.

Confused between Model S or Model 3


May 12, 2021
HI Model S Owners,

I am planning to book my first Tesla and I am a bit confused about which one to buy. Financially, I am doing ok and I assume I can afford any of these two cars.

The reasons I want to buy S:
1) Performance.
2) Better suspension
3) Range
4) Look

The Reason I want to buy 3:
1) Economical
2) Government rebate (8000 from Quebec and 5000 from Federal)

My financial status:
Age - 31/M
Salary(base) - 155,000
RRSP(Pension account) - over 100K
TFSA(Tax-free saving account) - 56K
I already own a house so I don't need to save for a down payment
Monthly expenses(including Mortage) - 3000
Credit score - 862/900 (Equifax)
No other debts
I live in Montreal and it is one of the affordable cities in Canada.

Now, I would request Model S owners to look at my finance and guide if I should get a model 3 or model s.


Giver of snark
Mar 31, 2021
North Wales PA
Assuming you get the S LR, then it’s 1/2 your yearly salary, that isnt to say that people will spend that much on a car all the time, but personally I think it's wiser to be more prudent on a depreciating asset. $150K/yr aint what it used to be
But ultimately it's your money
  • Like
Reactions: Jejunjm


Jul 1, 2016
Columbus, IN
The first advice I would give you is to not post such personal financial details on-line in a public forum.

As for which car is best for you, only you can answer that question based upon your needs and preferences. The two cars are quite different. Model S more a touring sedan, smoother ride, larger overall form factor, and utility of hatch back. Model 3 smaller, more nimble, but with stiffer ride and conventional boot. Which is "best" is a matter of personal preference.

I've always found the lowest cost solution for me is buying the car that best meets my needs because then I am satisfied owning it for many years (12-15 on average). Also don't buy what you cannot comfortable pay for with cash. Any car is a depreciating asset. If you have to worry about financing, or how much the insurance costs, then you can't afford it.

Sorry if I sound like I'm talking to my child, but then again ... I am twice your age, so guess I could be giving advice to one of my kids! :)


Well-Known Member
Nov 25, 2012
Visalia, CA
$13,000 seems like too much govt money to pass up.
...2) Government rebate (8000 from Quebec and 5000 from Federal)...

I prefer Model S but as @jjlawyer mentioned, I would override my preference and get a Modle 3 instead due to $13,000 incentive which is not small change.

I would trade in the Model 3 when its 50,000 mile/4 year warranty will be almost up and get Model S at that time.

About Us

Formed in 2006, Tesla Motors Club (TMC) was the first independent online Tesla community. Today it remains the largest and most dynamic community of Tesla enthusiasts. Learn more.

Do you value your experience at TMC? Consider becoming a Supporting Member of Tesla Motors Club. As a thank you for your contribution, you'll get nearly no ads in the Community and Groups sections. Additional perks are available depending on the level of contribution. Please visit the Account Upgrades page for more details.