How did you Justify 95k car purchase?

[sub]

Thanks Everyone. I will throw the "life is short" at my wife and see her reaction lol. Definitely not letting go of shares before the 5th, if the stock tanks (i'm confident it won't) I will hold off a little while longer. Plan is to pick up a P85 loaner before the end of the year so I can take advantage of the tax break this year, and it's the only way I will get a P85.

 

[SFOTurtle]

Thanks Everyone. I will throw the "life is short" at my wife and see her reaction lol. Definitely not letting go of shares before the 5th, if the stock tanks (i'm confident it won't) I will hold off a little while longer. Plan is to pick up a P85 loaner before the end of the year so I can take advantage of the tax break this year, and it's the only way I will get a P85.

It might be sacrilege on this forum, but if you were straining at the cost, the S85 is plenty of car in every way, and would save you some cash. Does your wife really need the extra performance of the P85 to justify the extra expense? That would be the first place to think about it you really need to justify the decision.

 

[simplesolar]

YOLO! (you only live once)

 

[NuclearPowered]

the car pencils out to costing us less than what we pay in just gas right now

Why is this even a debate? You said it yourself that you will get a better car for less money. Whats stopping you? Even if it is financed, it's saving money every month. Win win win...

 

[rcc]

Honestly, if $$ is an issue, I'd think really hard about saving $10K and dropping to the S85. I've driven both the P85 and S85. Unless you're really in love with violent acceleration, the S85 has plenty of power. In my experience, the instant torque and lack of gear-shifting means the S85 has usable, real-world power equivalent or better than Corvette's, Porsches and Ferrari's.

 

[sp4rk]

Thanks Everyone. I will throw the "life is short" at my wife and see her reaction lol. Definitely not letting go of shares before the 5th, if the stock tanks (i'm confident it won't) I will hold off a little while longer. Plan is to pick up a P85 loaner before the end of the year so I can take advantage of the tax break this year, and it's the only way I will get a P85.

Just do it!

There's a reason for the Tesla GRIN!

Have yet to meet an owner that would part with their Model S. (well, maybe for another one!)
And I met 300 of them at Teslive. Never in my life met a group of enthusiasts more into a car brand than this one. And I drove a lot of "campy" cars ...

 

[Zextraterrestrial]

YOLO! (you only live once)

yes, and driving a Tesla in this life is really nice

 

[SwedishAdvocate]

One more way to perhaps get the cost down somewhat more, might be to choose the standard coil suspension. And since you'll be keeping the car for a long time, and as I understand it, the standard coil suspension reduces complexity. And also, and again, as I understand it, steel (or whatever the coils consist of) ages better than the rubber in the active air rubber bellows.

 

[liuping]

I was able to justify a S85 based on life's short (hey, I'm 48 and never owned a sports car), it incredibly fun to drive, and eco friendly to boot.

I was not able to justify the $10k jump to P85, or even some of the other extras like pano roof for $2500, or the 21" wheel for $4500 (+ yearly new tires).

As for as financing, Alliant still has 72 month financing at 1.49% for up to 95%. Any decent investment will return more than that, effectively lowering the costs further.

 

[evme]

All good points that I have already considered, thanks everyone. Earlier on in life I had no problem financing things and being in debt but as time went on I started looking at things as "want" or "need". It's almost entertaining to me to drive around junky cars, I'm just into the "show" anymore. However, I want to get off gas/oil and we need a new car and the Tesla is the only car that will do what I want. The 60 is out of the question because I need all the range we can get. I do feel that I don't go some places because I don't want to add in the cost of the gas to whatever it is I want to go do.

Well you can think of it as leasing

As far as the credit card issue, I can see the advantage of using it to purchase things for protection, but I don't like using them at all. We don't live paycheck to paycheck so I don't need it for "emergencies" either.

As I mentioned, credit cards are more than just living pay check to pay check. That is what people do who don't understand how to manage their money. Credit cards have benefits for those that don't live paycheck to paycheck. Essentially you pay off the balance every single month on time. If your the forgetful type you can prepay or set it to auto pay whichever suites you. Benefits range from cash back on purchases to perks. For example, I have a Marriott card that gets me Marriott platinum and I get free room upgrades, free breakfast and free lounge access, free internet, free calls and early/late checkout. And I get this without paying any extra penny on purchases. Other cards give me other benefits such as extending warranties and increased cash back on purchases.

So while there are people using credit card to make purchases they can't afford, that doesn't speak for everyone. You just pay them off every month on time. The credit cards make their money on the merchant fees, not from you. (Though some of the credit cards end up losing money on me as well as I only use them when it is favorable to me and probably not them).

Of course if you have some personal reason you don't use them that is different and understandable.

 

[sub]

One way i'm justifying trying to buy the car now is if I can do it before the end of the year I can get the tax rebate back sooner. Most of the loaners are Performance, and the discount is big enough that it isn't much more than ordering a new non performance 85. I figure that little extra will make owning the car for 7-10 years easier, and will make resale easier if that were to ever be needed. The last test drive we did 2 weeks ago they were nice enough to pull the standard model out of the showroom so we could drive it back to back with a performance. Of course the standard is awesome and would be more than enough if that is what it came down to, but we can swing the P85 loaner no problem.

I would prefer coil suspension, and I have told the person I'm working with at Tesla I would prefer it, but it's more about the entire package + price. There are a few exterior colors I would be happy with, and 2 of the 3 interior. The only must have options are tech and panoramic roof. Most of the loaners come well optioned, but they are still a good deal and it's nice to get close to a used car price yet the car is still considered new with warranty.

I have thought about looking at the car as a lease, that does help. Really the sticking point is just knowing I have the debt even though I know it's not really costing me anything more than what I'm paying now for transportation (other than the down payment). I told my wife "you only live once" since my last post and she just laughed and shook her head, said she was coming to terms with driving a junker lol. She just rolled off in a rented Nissan sentra for a 2 day business trip, sad sight.

I see the points on the CC'd benefits, I just don't like dealing with stuff like that. My wife has a Hilton card so we get all those perks and free rooms etc.

If TSLA cooperates this next week I think you all have done a good job of getting me over my issues. Hopefully I can get the financing worked out tomorrow, waiting to hear back from alliance.

 

[yobigd20]

8 months ownership. 29k miles. over $7000 saved in gas, oil changes, and ez-pass toll discounts compared to my previous ICE vehicle. without even going into a single tidbit of how awesome this car is, the money savings alone is enough justification for pulling that trigger.

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BTW, 5 years of driving like this ^^^^, and the total cost of ownership for my loaded P85 will be cheaper than had I purchased a Toyota Prius instead. Most people don't actually realize how much they spend on car maintenance and fuel every year...trust me, it adds up. It adds up more than a P85. So if you had the choice of owning a decked out P85 vs a Toyota Prius for the same price (actually even cheaper), which would you purchase?

 

[RoverS]

if you are asking yourself how can you afford a $95,000 car... then you can't afford a $95,000 car. get an Accord and save your money.

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Gotta live today.

gotta retire tomorrow. just sayin...

Life is short

no it's not. life is LOOONG. especially if you make the wrong decisions...

 

[StephenM]

These are all great, but I don't think safety has been emphasized enough. The model S is undoubtedly the safest vehicle out there and with as much driving as your wife is doing I think you would have much more peace of mind knowing that if some idiot driver crosses her path that she will be better protected. Just one of many attributes.

 

[sub]

if you are asking yourself how can you afford a $95,000 car... then you can't afford a $95,000 car. get an Accord and save your money.

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gotta retire tomorrow. just sayin...




no it's not. life is LOOONG. especially if you make the wrong decisions...

Thanks for that, we need someone with some sanity here lol. I agree there are a lot of people that maybe can't "afford it" that have bought the model S. I have broken it down every way I can and It's not a question of can I afford it, it's more a question of do I need it and being ok with the fact that I don't "need it" but the math makes perfect sense. Not sure I am however. Yes, there is more to it than that for me, I wouldn't pay 95k for an ice, heck, I wouldn't pay 30k for an ice (helps that the math makes no sense compared to the model S).

To put your worries at rest, we could start with zero and pay for a model S in cash within a year from our income with "dispensable" cash. However, I like to look at things from the perspective of what would we do if our current income disappeared for some reason.

 

[Larry]

Sub
get the S85 to save the $10000 unless you or your wife are into the speed/sports car thrill. There is PLENTY of torque and speed in the S85. Bought mine as an everyday use commuter vehicle and its more then enough vehicle and its beyond fun to drive. Smile every time I get in it

 

[sub]

sitting here watching Sunday night football following the replies, thanks. Again, i'm not discounting the regular 85 at all, it was my intention to buy one instead of the p85 and without too many options. However, the price of a loaner P85 with many more options is barely more than the thinly optioned regular 85 I was planning to order, so it's a no brainer for me. Not to mention I've seen the list of loaners and there are no regular 85's on it currently that fit my base requirements (color, tech, panoramic). I can have my cake and eat it too with the insane acceleration. My other vehicle is a 94 Landcruiser, which takes about a day and a half to go from 0-60 but it's my snow/towing vehicle. A model S would also allow me to keep the Landcruiser another decade since I would only put 3-5k a year on it around town when the Model S is with my wife, I work from home.

edit - typo

 

[gameon]

Thanks for that, we need someone with some sanity here lol. I agree there are a lot of people that maybe can't "afford it" that have bought the model S. I have broken it down every way I can and It's not a question of can I afford it, it's more a question of do I need it and being ok with the fact that I don't "need it" but the math makes perfect sense. Not sure I am however. Yes, there is more to it than that for me, I wouldn't pay 95k for an ice, heck, I wouldn't pay 30k for an ice (helps that the math makes no sense compared to the model S).

To put your worries at rest, we could start with zero and pay for a model S in cash within a year from our income with "dispensable" cash. However, I like to look at things from the perspective of what would we do if our current income disappeared for some reason.

Just wait for couple of years, and you have tons of options gen3 and upgraded battery in leaf or other EV making good progress...

In my mind next 2-3 years will be groundbreaking in terms of EV penetration level. Also Toyota & honda or GM will introduce more CNG or hydrogen cars (doubtful but as a consumer, multiple green option makes me feel better)

If you feel in the next couple of years, nothing looks exciting but model s you have cash and buy in no time...

If you never took a loan for something don't do it for car or any car unless it is MUST.

 

[sub]

Just wait for couple of years, and you have tons of options gen3 and upgraded battery in leaf or other EV making good progress...

In my mind next 2-3 years will be groundbreaking in terms of EV penetration level. Also Toyota & honda or GM will introduce more CNG or hydrogen cars (doubtful but as a consumer, multiple green option makes me feel better)

If you feel in the next couple of years, nothing looks exciting but model s you have cash and buy in no time...

If you never took a loan for something don't do it for car or any car unless it is MUST.

that's the problem, we are in a pickle with our car situation. We can't wait, either we buy another ice vehicle or a tesla. If we had a car that would work for another 1-2 years the decision would be a bit different. Every time I talk myself out of the Model S and into an Ice, I do the math and I get irritated. We like to have one nicer car, though I wouldn't call our 3 series wagon a luxury car, it's nicer than a civic. I tried to talk my wife into a civic for traveling today and she can't do it, and I really don't want to either. We prefer BMW/Audi type quality for our traveling car. I started this thread feeling 50/50 Model S but I would say everyone has done a good job of getting me to 75/25 model S. Looking forward to the Q3 ER report, a nice bump in the stock price will make this decision easier toward the Model S.

 

[Owner]

A huge reason for me in buying Tesla (started with the Roadster) was a way to help save the planet. Go solar too and your energy will eventually be free.

I'd get the S not the P if finances are an issue. After 4 years of driving the Roadster, I do not miss the acceleration with the S. If I lived in the boonies I might have a different take but could not justify the $ - especially since the P feels slow to me in comparison the the Roadster.

We can't wait, either we buy another ice vehicle or a tesla