ok, I thought this decision would be easier once I had the wife on board, which she finally is. I think once she said ok it became real to me and now I'm struggling with pulling the trigger. It has nothing to do with the car or the company, i'm a shareholder and a believer, it's how to justify the purchase price.
Here is our situation. My wife travels for work so she will be doing 1000+ miles per month and gets reimbursed for that mileage. Adding our gas usage, which we have looked at for the past 6 months, the car pencils out to costing us less than what we pay in just gas right now and most likely will save us hundreds vs current expenses monthly. I would be financing 75%, I do not want to use up more of my cash than that and with loans at ~3% I feel I can make more with my cash than that. So, financing appx 75k with above numbers we come pretty close to car costing us nothing on a monthly basis. Down payment is coming courtesy of TSLA also, beautiful.
We have been crunching the numbers and debating this purchase since our first test drive 6 months ago. Our big sticking point is we don't finance things anymore, we have paid cash for all our cars for the last 5 years. I don't even have a credit card in my name. I've tried to justify it looking at it as a "net worth" issue, meaning as long as the car has more value than what it's currently worth and I can sell it at anytime than it won't stress me out.
I posted a while back asking for help on how to convince my wife to get on board, a 2nd test drive took care of that. Our current traveling car is a money pit, sitting in the garage right now needing repairs that I don't want to make after already spending 3k+ in the last 3 months trying to keep it on the road. Our backup plan is to buy a 3-5 year old Ice car and drive that until we can justify the Tesla. Our current vehicles have a total value of about 10k together. We recently paid cash for an 8kw solar system for our house so we would have completely free driving. No doubt we would keep the car for a decade, that is how we are. We are not the type that have to have the latest and greatest every year, my current vehicle is a 1994.
Let me hear your thoughts.
Here is our situation. My wife travels for work so she will be doing 1000+ miles per month and gets reimbursed for that mileage. Adding our gas usage, which we have looked at for the past 6 months, the car pencils out to costing us less than what we pay in just gas right now and most likely will save us hundreds vs current expenses monthly. I would be financing 75%, I do not want to use up more of my cash than that and with loans at ~3% I feel I can make more with my cash than that. So, financing appx 75k with above numbers we come pretty close to car costing us nothing on a monthly basis. Down payment is coming courtesy of TSLA also, beautiful.
We have been crunching the numbers and debating this purchase since our first test drive 6 months ago. Our big sticking point is we don't finance things anymore, we have paid cash for all our cars for the last 5 years. I don't even have a credit card in my name. I've tried to justify it looking at it as a "net worth" issue, meaning as long as the car has more value than what it's currently worth and I can sell it at anytime than it won't stress me out.
I posted a while back asking for help on how to convince my wife to get on board, a 2nd test drive took care of that. Our current traveling car is a money pit, sitting in the garage right now needing repairs that I don't want to make after already spending 3k+ in the last 3 months trying to keep it on the road. Our backup plan is to buy a 3-5 year old Ice car and drive that until we can justify the Tesla. Our current vehicles have a total value of about 10k together. We recently paid cash for an 8kw solar system for our house so we would have completely free driving. No doubt we would keep the car for a decade, that is how we are. We are not the type that have to have the latest and greatest every year, my current vehicle is a 1994.
Let me hear your thoughts.
