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Divorce and the Big Car Payment

Discussion in 'Model S: Ordering, Production, Delivery' started by ⚡️ELECTROMAN⚡️, Nov 26, 2016.

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What would you do if your marriage was less than perfect.

  1. Cosign with your wife to save $500?

    13 vote(s)
    21.0%
  2. Get the loan in your name only?

    49 vote(s)
    79.0%
  1. CHG-ON

    CHG-ON Still in love after all these miles

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    Sounds like your first priority would be to work on the relationship.

    I say it because I learned the hard way, not to be critical.
     
  2. ⚡️ELECTROMAN⚡️

    ⚡️ELECTROMAN⚡️ In loving memory of Version 8

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    Oops sorry, my bad. I thought this was the Dear Abby Forum.
     
    • Funny x 1
  3. ⚡️ELECTROMAN⚡️

    ⚡️ELECTROMAN⚡️ In loving memory of Version 8

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    Thanks, yes I know. Easier said than done.
     
  4. bswn1

    bswn1 Member

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    I think the answer is spend the $500, but you already knew that didn't you!
     
  5. ⚡️ELECTROMAN⚡️

    ⚡️ELECTROMAN⚡️ In loving memory of Version 8

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    That's what I was leaning towards, but I thought it would be an interesting topic for conversation. I learned things.
     
  6. InternetDude

    InternetDude Member

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    If you need 6 years to pay a car off, you can't actually afford it.
     
  7. ⚡️ELECTROMAN⚡️

    ⚡️ELECTROMAN⚡️ In loving memory of Version 8

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    One thing I learned was that a lot people on this forum have a tendency to jump to conclusions. Just because I'm sweating over the small stuff doesn't mean I'm poor. Don't worry, I can afford the car. I know multimillionaires that sweat even smaller amounts than I do. There's a reason we are well off and not up to our eyeballs in debt. The Tesla loan will be my only loan. At 2% it would be foolish not to finance it. I could pay cash if I wanted to liquidate some assets and that might be a good idea with the stock market at an all-time high. A fool and his money...
     
  8. Max*

    Max* Charging

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    What you said

    What everyone else read....
     
    • Funny x 2
  9. patrick40363

    patrick40363 Member

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    Go write to Dear Abby, This is a Tesla forum.
     
    • Disagree x 1
  10. BluestarE3

    BluestarE3 Active Member

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    Ah, but while Abby may be expert in matters of the heart between people, would she understand how a person's passion for an automobile (especially a Tesla) may color one's judgment and weigh heavily on one's heart? :)
     
    • Like x 2
  11. ⚡️ELECTROMAN⚡️

    ⚡️ELECTROMAN⚡️ In loving memory of Version 8

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    You're a very funny guy. I see a few divorces in your future.
     
  12. Max*

    Max* Charging

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    #72 Max*, Nov 30, 2016
    Last edited: Nov 30, 2016
    Nah, been with my wife for 14 years now. You just gotta find the right one (i.e. the one that'll put up with you).
     
  13. ⚡️ELECTROMAN⚡️

    ⚡️ELECTROMAN⚡️ In loving memory of Version 8

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    So true. That seems to be the key to a happy marriage.
     
    • Like x 1
  14. Canuck

    Canuck Well-Known Member

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    I asked my wife what she wanted for Christmas. She said "A divorce." I said: "Please make it something I can afford."
     
    • Funny x 8
  15. jeepn30

    jeepn30 Member

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    We were both on the loan. When we traded in the Nitro, only her name was on the loan for the Caliber. As crappy as it was to see 8k disappear in a couple month's time, it was one less thing to worry about, as my name was no longer on the car.
     
  16. CHG-ON

    CHG-ON Still in love after all these miles

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    From your mouth to my ears.
     
  17. ⚡️ELECTROMAN⚡️

    ⚡️ELECTROMAN⚡️ In loving memory of Version 8

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    How do you figure? I'm coming up with $592.46 total interest on an $80,000 loan for a six year term.
     
  18. Maximapolak

    Maximapolak Member

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    At 1.99% it would be almost $5000 in interest at 6 years.

    80k / 72 = 1111.11 per month
    @1.99% = 1180 per month

    So 69x72=4968
     
  19. ⚡️ELECTROMAN⚡️

    ⚡️ELECTROMAN⚡️ In loving memory of Version 8

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    Darn it I forgot the at .25% part. The cost difference between the loan at 1.99% versus the one at 1.74%.
     
    • Like x 1
  20. Max*

    Max* Charging

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    Close, but with some rounding errors.

    Monthly payment @ 1.99% is $1,179.68
    Total interest paid is $4,937.26*.

    *Depends on how the bank does it. They may make it $1,179.69, since there's a $0.31 discrepancy at the end of the loan with $1,179.68.
     
    • Like x 1
    • Love x 1

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