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Discussion in 'Model S' started by Manzacoty, Dec 17, 2016.
Curious how most people bought their MS...
We need lots of responses to have a presumption about how TMC active posters finance, much less the broader community. I'll hazard a guess that maybe 40% of new Tesla buyers today probably pay cash, about the same percentage as for other cars of comparable price, but that will plummet when Model 3 arrives and/or used Tesla are considered.
Well, when they wouldn't take my good looks, I had to open my wallet, and use... money.
Quite unhappy about that but let's be honest, it's a 1st world problem....
I just put my deposit down today and will finalize the payment choice on Monday, but I'm leaning toward finance. It's too cheap at 1.99%, the $103,000 can bring a better return than 1.99%.
Don't forget about risk! Why would anybody lend you money at 1.99% if they could get more elsewhere (where you will return more)? Don't blame you for financing. Just don't know where these high return low risk investments are.
But seriously, with another $40k - $100k, we can buy a rental here in the Phoenix area that will net $900 - $1200 per month, or about 7-8% annual return...and that's the plan (currently have 3 rentals). The rent money will pay the car payment, and it's still sitting there in the "bank" (and growing...knock on wood for no crashes) if ever needs to be liquidated unlike wrapped up in the car.
I'll pay anyone 3% interest on their money. $100k increments.
Better you than a Commerical real estate lender 4%+. Let me know if anyone is interested.
3% risk free I'm all over it.... you're FDIC insured, right?
This was particularly amusing while watching American Greed on CNBC tonight.
So, where are the "Inherited", "Bartered", and "Stole it" options?
Sugar Daddy/Momma? Maybe that falls under "bartered".
Since I took delivery a few weeks prior than my original plan (the car came in 3 weeks early), I went ahead and used Tesla's financing (90% at 1.75% rate). But, I indeeded the purchase to be a cash purchase, and will pay off the loan here in full by end of Dec.
3 Tesla's, 3 different ways (always look at options, do the math, pick the best one for you). The only thing all 3 had in common was the $2500 deposit was on a credit card.
I had full intention on financing with a big chunk down. Went over the numbers several times (what else to do while waiting) to decide on how much to put down and keep monthly reasonable. In the end after worrying about 2.0 coming out and having an "old" Tesla, a day before delivery I changed it to a lease. That was 4 months ago and I am happy I did. In 2019 I will purchase my next Tesla as a retiree and not worry about what I may miss.
Cash...but I always purchase vehicles with cash...just a preference thing.
Same here. I get the appeal of not parting with $100k in a single sign of the pen. And the opportunity costs that could be lost. However, to me it just makes life easier and less complicated to not have to worry about payments.
40% down , rest financed at 1.49% through Alliant . I'll probably pay off the loan well ahead of time with gains from other RE investments.
You're spot on. Currently at 36% paying cash.
10k down and finance the remainder for 1.9% through a credit union. Plan on paying it off in 9 mos.