How does one justify it...

[Giles Parnell]

First time poster- so go easy on me.

Have been a Tesla fan from the start- but never thought i’d be in a position to actually go forth and purchase. IT geek that loves tech.

Fortunately came upon some cash over recent years- so Basically the Red M3P with white interior has to be mine. I even have the wife’s permission. She said I was crazy to be considering spending that amount of money on a car... but then never said NO... I’ll take that as a YES- Hell yeah ! Right now she’s just sick to death of me mentioning the T word or streaming anything to do with it on the Tellie. Go do your thing she says!

I have the cash to buy outright... but there’s this worrisome nagging feeling in the pit of my stomach:

• Should I really be spending this amount of money on a car?!?
• Shouldn’t I be considering the long term future of my kids?
• What if Tesla bombs out - and i’m left with a $120k car- now worth nothing.
• Do I really want to be commuting from the northern beaches into Sydney traffic?

Ultimately, this will be my car- a car I commute in- kids will only be let near it on weekends- and only those who have been super nice to dad. Spending this amount of cash- just on me? Seems super selfish!

I guess this long rambling ‘reach out’ is to hear what other people’s thought processes were that ultimately helped them cross that ‘purchasing decision’ line. I know this is my decision- and no one of this group should (will) make it for me... but interested in how others processed this all.

Also completely conscious they most folks on this forum are somewhat biased- but suspect some have gone through similar emotions.

Anyone out there gone through something similar?

 

[Saghost]

Absolutely, though there wasn't anyone else I had to justify it to, just me - but I especially had to think hard when replacing a perfectly good Model X with another 6 figure Tesla.

I look at it as a ~$20k-$30k donation towards a better future (Tesla's gross margin on the car.) Pushing the EV adoption is making a big change for your children's futures.

Buying the safest car on the market means you'll both be more likely to live to see that future. (In 2016 in the US, 3/4 of the deaths that weren't medical conditions are from traffic accidents.)

There's very little chance of Tesla failing at this point, despite all the shorts and FUD. Even if that somehow happened, someone would step up and keep supporting the cars. If anything, it's the other way - in ten years, will anyone want your old ICE car? A FSD Tesla will still be of substantial value to someone.

 

[Sutton 3P]

I bought an M3P in January and I carefully priced out my cost (upper and lower limit) of ownership over 3 years. I found it would cost a good bit less than owning a Subaru WRX for the same period (and 25k miles/year).
...Well for all my calculation I might as well have just picked numbers out of a hat. The cost of my car, including accounting for tax rebates, is now $9k cheaper. So what I'm trying to say is that what an M3P will be worth when you sell it is anyone's guess. If you buy FSD and believe Elon it will be one of the best investments of your life (will appreciate to the tune of more than $100k lol). If you think Tesla will go bankrupt then it really could go up or down. You can safely bet they will continue to screw early buyers if needed.

Don't try to rationalize buying a Tesla. It's an awesome car, but you will likely lose a lot of money, spend a ridiculous amount of time dealing with repairs if needed and will be driving a fancy car that people want to race. My advice to save embarrassment later, is don't argue that this is a rational decision - this is not like a normal car purchase.

...but it is amazing car to drive and pretty much no one can keep up with you on the road.

 

[Doctor X]

Life is short and you can’t take it with you, enough said. Enjoy the car while you still can

 

[raynewman]

I spent about that over 4 years ago and, yes, it's worth it.
No spend on maintenance.
No spend on fuel, oil etc; approx $1,000 on electricity PA.
Amazing driving.
Safety.
You won't regret it...

 

[RobDickinson]

For me there are several reasons..

I cant sit still and do nothing about climate change, I am making many changes in my life, the car is just one (currently drive a phev) but an important one.

Second to that I can afford it (through being careful and saving), I dont have kids to worry about.

What pisses me off is (wealthy) people with kids buying huge diesel SUVs to ferry them around and 'keep them safe' when it poisons them and destroys their future.

Plus I personally support tesla and their mission and their approach, I cant see the company going anywhere but up.

 

[KimVerska]

It's definitely worth it. To replace the Volvo XC90 I used to drive (until maintenance issues at usually $3,000 a pop made me give up after 6 years), it would have been at least $65,000. We charge at night at ridiculously low rates here in GA, so that replaces the $4,000/year I was spending on gas. Maintenance has been minimal in the 3.5 years I've owned my MX. So, assuming a 5-year ownership, if I had stuck with my Volvo, I would already be at $85,000 for a car that was vastly inferior to my MX in terms of:

Autopilot -- mine will never be FSD, but I love it for traffic and highways
Functional map -- Volvo was nowhere close to the GPS that Teslas have
Continual improvement -- I am not aware of any other car that improves for free AFTER you buy it, due to Tesla's software downloads
Browser in car -- useful at times
Pure joy and fun -- c'mon, you have to love a car that has games and Easter eggs built in!
Being part of the electric car future -- also priceless

I seriously doubt that you will EVER be left high and dry with a "worthless" car. That assumes that even if Elon can't make this balance of crazy spend on the Gigafactories vs (cash through the door + investor money) work out, no one will buy the assets of the company. All the countries in the world are pushing for EVs right now, and the battery tech alone is worth billions. Don't buy the Tesla hate -- the company is on an incredible upward trend that will only continue. They are at least 10 years ahead of all the other car companies that are piling onto the EV bandwagon now in terms of technology and car specs. Watch this for a visualization: See Why Tesla Scares The Legacy Players | CleanTechnica.

Go forth and Tesla-fy!

 

[Icey]

I support the mission, I can't take money with me when I leave so why not leave the place better.
I drive about 50k km a year, with free super charging makes financial sense as well.

 

[Big Earl]

• Should I really be spending this amount of money on a car?!?
• Shouldn’t I be considering the long term future of my kids?
• What if Tesla bombs out - and i’m left with a $120k car- now worth nothing.
• Do I really want to be commuting from the northern beaches into Sydney traffic?

Welcome!

If you're really shaken up about the price, consider going with the Model 3 Performance without the Performance Upgrades Package (big wheels and tires) if you can opt out of it. That'll save you a few thousand dollars and you'll still get all of the acceleration. If the PUP is a must-have, know that you'll have one of the best cars on the road and you'll love every minute of it.

You are considering the long-term future of your kids by providing them with sustainable, clean transportation and funding the mission of the only company that has shown a genuine interest in reversing humanity's reliance on carbon-fueled transportation. Take the opportunity to educate them on the importance of sustainability.

Tesla will not bomb completely. Even if a black swan event happens and they have to pursue bankruptcy, they will get bought up by others and their products will continue to be supported.

I don't know anything about commuting in Australia. Good luck.

 

[Brendon]

Sounds very similar to my situation. Usually I am frugal when it comes to spending and my wife pointed out this is uncharacteristic BUT ...

• My wife understands how much I want to reduce greenhouse gases and this is one more step towards that goal.
• Investing in company that promotes cleaner transport will make that company more likely to be successful thus, others will following in our footsteps.
• Having such a car will open up more discussion with friends that I hope to convince to also go green.
• Once my wife saw the car she warmed to the idea - especially when she picture herself in it.
• 0-100 in 3.4 powered by sunjuice; ex-WRX driver here.
• Minimalistic redesign of a car is friggen awesome - I love concepts that think outside the box.
• Glass roof is so cool.It's safe.
• If you go electric - Tesla's are the leading in vehicle battery tech. They will last better than other electric cars.

 

[RobDickinson]

The cost is pretty substantial! Its about 3 times what we'd normally spend on a vehicle. Its worth it though...

 

[PJF000]

Sounds very similar to my situation. Usually I am frugal when it comes to spending and my wife pointed out this is uncharacteristic BUT ...

• My wife understands how much I want to reduce greenhouse gases and this is one more step towards that goal.
• Investing in company that promotes cleaner transport will make that company more likely to be successful thus, others will following in our footsteps.
• Having such a car will open up more discussion with friends that I hope to convince to also go green.
• Once my wife saw the car she warmed to the idea - especially when she picture herself in it.
• 0-100 in 3.4 powered by sunjuice; ex-WRX driver here.
• Minimalistic redesign of a car is friggen awesome - I love concepts that think outside the box.
• Glass roof is so cool.It's safe.
• If you go electric - Tesla's are the leading in vehicle battery tech. They will last better than other electric cars.

Here's another reason. We are all early adopters (less so with M3) and the fact that you buy and put your faith in basically a start up company, helps and ensures that start up continues to grow. The great thing now is that all new vehicles have FSD capability (probably true now with new chip and latest hardware) and every Tesla on the road will be (most likely) operating in Shadow Mode, which in turn will be advancing the time for implementation and maximum safety algos, to ensure the end game gets that much closer and quicker for everyone.
The personal reward for the early adopters is that you get to experience the original and the best before FSD arrives and becomes mandatory.

 

[Grenadine]

At the risk of getting bashed up in this forum...

The fact it is environmentally friendly is not a large factor for me. For me, the car wins on the merits compared to other cars in its price point. That is, it wins against the competition.

1. It is safe as can be.
2. It is faster than 99.9% of cars on the road including many that cost 3x more. 3.4 second 0 - 100 km/hr is CRAZY. I spent a lot of my time driving turbo charged Subarus early on and lately BMW M3s and c63s Mercs. They cost way way more and have the same performance. So against that measure the M3 is a no brainer, particularly as quality control is so much better than launch and 'battery handicaps' like overheating on the track and at high performance have been overcome now. So, apart from the noise of a massive ICE engine revving hard (which, I must admit, does have a thrill to it), the model 3 is better in every way against its peers.

Frankly, the kids are much more excited about Dad dropping them off in a Tesla than a Merc or BMW - the cool factor has gone up - and that is priceless!

I DO understand that for folks starting off in life particularly the price is daunting still compared to normal sub $50k priced cars. You really do get a lot of 'bang for your buck' in this segment and price points these days. For those folks a Hybrid Camry or the like might make much more economic sense. But once you cross the Rubicon into cars between $70 - $100k to me the model 3 is absolutely peerless and you need to spend way more to get even close and even then struggle to find something as good.

 

[RobDickinson]

At the risk of getting bashed up in this forum...

The fact it is environmentally friendly is not a large factor for me. For me, the car wins on the merits compared to other cars in its price point. That is, it wins against the competition.

Thats the tesla key, they make desirable cars irrespective of the environmental argument.

 

[Shock-On-T]

My last car was a diesel SUV, and my Model S75D has cost me about the same per annum thanks to reduced fuel and servicing costs.
Even the S75D has incredible performance compared to almost any ICE, and in fact it has quicker response than any ICE, which matters most in traffic.
It is a totally different mindset. You can hoon without drawing attention. It basically costs nothing every time you go for a spin. You aren’t beholding to the oil companies for their product in order to use your own vehicle. It’s all yours.

 

[LDCRS]

Should I really be spending this amount of money on a car?!?

If you're in a position to do it then I can promise you the amount of enjoyment and attention that you get from it will feel like it puts years back into your life! The amount of tech compared to other 'cars' is un-paralleled and if you think about what Elon has said, buying anything other than a Tesla just doesn't make any financial sense. You're investing in the future. One week of driving it and you will realise that buying an ICE car is just a fail on so many levels.

Shouldn’t I be considering the long term future of my kids?

Absolutely....just AFTER you make this 'investment'. Consider the amount of money saved on maintenance, fuel not to mention the safety record and if you ever do come to sell, it probably has better resale value than anything else in the same segment.

What if Tesla bombs out - and i’m left with a $120k car- now worth nothing.

It won't. Even if it did - some other company (eg. Apple) will snap it up.

Do I really want to be commuting from the northern beaches into Sydney traffic?

Autopilot is a godsend. And the instant torque makes weaving through traffic a breeze.

 

[LDCRS]

It is a totally different mindset. You can hoon without drawing attention.

This. Obviously not condoned but it is so much fun every drive.

 

[meloccom]

First heard about Tesla in 2006 soon after Roadster announcement. Read all I could about Tesla and was inspired by Elon’s Secret Plan. However I never thought I would own a Tesla but instead decided to start saving for an EV presuming it would be something like an electric Golf.
Six years later in 2012 we had saved up a substantial amount and having driven my partner crazy, he finally said “Well why don’t you just buy a Tesla”. So I put down a deposit still uncertain we would go ahead.
When we took delivery in late 2014, we had saved the entire amount and paid cash. I stood in the bank for a couple of minutes before organising the money transfer thinking “am I crazy?”. The Tesla was 3 times as much as I had spent on a car before!
Was in a bit of a daze, for the first few weeks and fully expected Tesla to ring and say we’ll take the car back now. It took a long time for such a special car to feel like mine. Even now it’s a pleasant surprise to go down to the garage and get in it.
The Model S is a bit of a boat but we have been up Pittwater Road many times on the way to Palm Beach etc. the Traffic Aware Cruise Control makes the congestion much easier to deal with. That and the lack of vibration makes it far less tiring. As to letting the kids drive it you should be aware that almost all Tesla’s are not P Plate legal in NSW so you have the perfect excuse not let them drive it.
So all the same experiences that you’re going through now. I would think it this way. When I ordered my car in 2012 no one was even aware of electric cars and their inherent owners benefits and part in reducing your carbon footprint. Since then the Auto Manufactures have woken up but the general public less so. Not a single friend or acquaintance I know have bought an EV, so we need more people like you to make owning an EV normal and help Tesla and the world transition to more sustainable transport.

 

[Matt_NZ]

For me, this will be my first car I've ever bought new (only 33) and the largest purchase I've ever made. The last point alone makes me nervous.

I rent in Auckland and I'm not planning on buying a house anytime soon. I just don't feel comfortable putting between $1-2mil into a house that I'd want to live in, especially since I don't know how long I'll actually live in Auckland. I'd rather rent and be able to enjoy life...which now includes getting a Tesla. Thankfully my landlord is pretty good and didn't mind me getting a 32A socket put in the garage.

I can't see myself ever owning a ICE vehicle ever again. Every day I drive my diesel BMW 5 series I feel guilty for the emissions it's producing. I really want to see my country make a big push to getting people into EVs. I could go get a Leaf but I want to help the climate while also having fun.

 

[Shock-On-T]

For me, this will be my first car I've ever bought new (only 33) and the largest purchase I've ever made. The last point alone makes me nervous.

I rent in Auckland and I'm not planning on buying a house anytime soon. I just don't feel comfortable putting between $1-2mil into a house that I'd want to live in, especially since I don't know how long I'll actually live in Auckland. I'd rather rent and be able to enjoy life...which now includes getting a Tesla. Thankfully my landlord is pretty good and didn't mind me getting a 32A socket put in the garage.

I can't see myself ever owning a ICE vehicle ever again. Every day I drive my diesel BMW 5 series I feel guilty for the emissions it's producing. I really want to see my country make a big push to getting people into EVs. I could go get a Leaf but I want to help the climate while also having fun.

You will find the cost to be quite similar to the BMW, and a lot less hassle. After 3 years I still love the car, couldn't go back.