Does Buying a Tesla Make sense for me?

[Fusil626]

So....my questions :

1.) rate of interest on the Civic?
2.) are you maximizing your 401k or otherwise retirement vehicles for tax savings?
3.) other debt?
4.) 6 monthly of emergency savings?

So, the home will allow you to leverage the total value of an appreciating liability and the Tesla or any other car will depreciate. Not coming down on you but these cars will only keep getting better and better over time so get you ducks in a row and you will be better set in time....

 

[wkkimball043]

So....my questions :

1.) rate of interest on the Civic?
2.) are you maximizing your 401k or otherwise retirement vehicles for tax savings?
3.) other debt?
4.) 6 monthly of emergency savings?

So, the home will allow you to leverage the total value of an appreciating liability and the Tesla or any other car will depreciate. Not coming down on you but these cars will only keep getting better and better over time so get you ducks in a row and you will be better set in time....

1.) 3.9%
2.) Not fully maxing out but hitting 15% savings rate pre-tax
3.) Not a cent of other debt
4.) 3 months currently and paid ahead by a month on my bills. I'm in a very in-demand field and would not have any issues getting a comparable job.

 

[Zorg]

Reality is that if every American was responsible financially, the economy would be in shambles. Buying a new car is never a smart financial decision for anyone (including me). That being said, if you can afford it and really want it, you may as well sell the Civic now and get the 3. I have to warm you that not having a home charger is a major PITA and negates the main advantage of having an electric car.