How to afford a Tesla on a budget - personal finance life hacks

[ABVA]

Isn't this the same guy who made 5 minute video showing how to open the charge port with the key fob?

Yes he is

 

[doubleohwhat]

This guy reminds me of salesmen at traditional dealerships. Something I was happy I could avoid when buying my Tesla.

 

[Dreamship]

Yes he is

Indeed. But to be fair, it was only one minute--that I'll never get back.

 

[Dreamship]

When it comes to Tesla YouTubers, I like Zac and Jesse the best. While most of their content comes straight from the electrek headlines, they often dig into lesser-known stories and provide context. Plus, they're actually nice people. I haven't ever seen anything from Alex that was particularly informative or enlightening. And the way he digs into people on these forums comes across as even more condescending than his videos (if that's even possible). He's quick to point out that his work is not for everyone, but I think it's an open question as to whether it's for anyone at all except him.

 

[ABVA]

Indeed. But to be fair, it was only one minute--that I'll never get back.

This one is over 28 minutes

 

[No2DinosaurFuel]

@AlexG, A couple of things to help with youtube videos.

1) Cut down on the extra explanations. Get one or 2 QUICK and SIMPLE examples and move. No need to dwell on it and explain them in details.

2) Limit video to around 5 minutes. 10 minutes maybe for a technical instructional video. I think your video can be cut down to around 5 minutes.

3) Quickly summarize your ideas in the beginning and end so those viewers in a hurry can get the gist and move on. It also helps to reinforce the ideas if they watch the whole thing. Even better, write it out in your descriptions so they don't even have to watch the video if it's not what they are looking for. The worst thing to do is to bait and switch. You will surely lose subscriber that way. Make the info known up front and easy to obtain.

4) Promote your subscribe ONCE at the end. No one likes to listen to you say "please subscribe to my video" every 30 seconds in your video. It really doesn't add any value to your video and annoys your viewers. I actually unsubscribe afterwords if anyone promotes their subscribe too much.

 

[Skotty]

To each their own but I can't see how buying or leasing an expensive vehicle is making "good financial choices" in any sense of that phrase. I didn't watch the video but I assume you have to cut down on other expenses in order to pay for this expense. If so, in my view, someone who really is making "good financial choices" would buy a revenue property, or other investment, that pays you back, before buying an expensive vehicle -- which really is just pouring money down the drain -- and makes no sense financially, no matter how you look at it.

Don't look now, Canuck, but you just made an argument for not supporting climate change and environmental protection initiatives. Perhaps you should revise your statement a bit? It needs some caveats. Recognition that life is about more than just "good financial choices", which I'm pretty sure you believe in, but it doesn't sound like it from that particular post. Also, a caveat that buying a Tesla is not necessarily pouring money down the drain, as you can buy a Tesla, as I did, to support a company that is making a real and successful effort to help society transition to renewable energy. To do that, I had to make some "good financial choices" in some areas to ensure I had the funds to put my money primarily where I think it matters -- on climate change and clean sustainable energy initiatives.

I realize you were probably just criticizing other aspects of the matter, but in doing so, be careful not to accidentally trample on your own ideals. Goes for the rest of you too.

 

[SageBrush]

Don't look now, Canuck, but you just made an argument for not supporting climate change and environmental protection initiatives. Perhaps you should revise your statement a bit? It needs some caveats. Recognition that life is about more than just "good financial choices", which I'm pretty sure you believe in, but it doesn't sound like it from that particular post. Also, a caveat that buying a Tesla is not necessarily pouring money down the drain, as you can buy a Tesla, as I did, to support a company that is making a real and successful effort to help society transition to renewable energy. To do that, I had to make some "good financial choices" in some areas to ensure I had the funds to put my money primarily where I think it matters -- on climate change and clean sustainable energy initiatives.

I realize you were probably just criticizing other aspects of the matter, but in doing so, be careful not to accidentally trample on your own ideals. Goes for the rest of you too.

The environment is the most precious and valuable resource humanity has. That fools discount its value to zero out of convenience and a myopic analysis of effects is besides the point. The more important difficulties are 1, the time horizon; and 2, the tendency for the environment to be a study in tragedy of the commons.

So while I agree that a $100k EV is not going to benefit the personal finances of a car owner and will not in and of itself benefit the larger community, Tesla has said that those cars let the company grow and develop to where the Model 3 is possible. So one Model S might lead to 100 Model 3, and that can be the road to substantial environmental benefit and community value.

Simple analyses are just not helpful with these questions.

 

[Skotty]

The environment is the most precious and valuable resource humanity has. That fools discount its value to zero out of convenience and a myopic analysis of effects is besides the point. The more important difficulties are 1, the time horizon; and 2, the tendency for the environment to be a study in tragedy of the commons.

So while I agree that a $100k EV is not going to benefit the personal finances of a car owner and will not in and of itself benefit the larger community, Tesla has said that those cars let the company grow and develop to where the Model 3 is possible. So one Model S might lead to 100 Model 3, and that can be the road to substantial environmental benefit and community value.

Simple analyses are just not helpful with these questions.

I suppose you could say even my support for environmental causes has it's limits. I could have simply handed over $72,000 to Tesla without asking for a used car in return. Who knows. Maybe I should have.

 

[abasile]

I suppose you could say even my support for environmental causes has it's limits. I could have simply handed over $72,000 to Tesla without asking for a used car in return. Who knows. Maybe I should have.

Nah, people need to see our EVs out on the road getting used!

 

[Canuck]

Don't look now, Canuck, but you just made an argument for not supporting climate change and environmental protection initiatives.

I don't see it that way.

My position on this issue has always been consistent, as I said here in the "Convincing a Sceptic" thread, last September:

I'm the first to say if you can't afford it, don't buy it.

You should never be buying a Tesla if you can't afford to put all of your kids through college. I'm glad to be pushing people away if that's the case. No one should live beyond their means.

This remains my position. I'm a firm believer in getting your own financial house in order before going about trying to help accelerate the move to sustainable transport by buying an expensive Model S. There's a ton of things a person can do to help the transition to EVs without buying a Model S. There's also better ways to help the environment, and your financial bottom line, if you can't afford to buy a Tesla (or even if you can) such as growing a vegetable garden (I eat from mine every day), bike when you can instead of driving, and the list goes on and on, including perhaps waiting for the Model 3 if that is more within your budget than a Model S.

As I said before in that other thread:

While I'm not so naive as to think I'm changing the world by buying a Tesla, or that Tesla itself will even change the world, since I think it's too late, and we're circling the drain, I do have my legacy. In fact that's all I've got is my legacy.

I would never want my children to look back on my legacy as someone who could not live within his means regardless of the fact that living beyond my means meant buying a Model S.

 

[Altes]

 

[RayW]

To each their own but I can't see how buying or leasing an expensive vehicle is making "good financial choices" in any sense of that phrase. I didn't watch the video but I assume you have to cut down on other expenses in order to pay for this expense. If so, in my view, someone who really is making "good financial choices" would buy a revenue property, or other investment, that pays you back, before buying an expensive vehicle -- which really is just pouring money down the drain -- and makes no sense financially, no matter how you look at it.

Buy a rental which clears $600/month + $200/month savings in gas = $800/month = BOOM free Tesla!

 

[Max*]

Buy a rental which clears $600/month + $200/month savings in gas = $800/month = BOOM free Tesla!

Eh, residential rentals aren't all they're cracked up to be.

 

[Skotty]

I don't see it that way.

My position on this issue has always been consistent, as I said here in the "Convincing a Sceptic" thread, last September:





This remains my position. I'm a firm believer in getting your own financial house in order before going about trying to help accelerate the move to sustainable transport by buying an expensive Model S. There's a ton of things a person can do to help the transition to EVs without buying a Model S. There's also better ways to help the environment, and your financial bottom line, if you can't afford to buy a Tesla (or even if you can) such as growing a vegetable garden (I eat from mine every day), bike when you can instead of driving, and the list goes on and on, including perhaps waiting for the Model 3 if that is more within your budget than a Model S.

As I said before in that other thread:



I would never want my children to look back on my legacy as someone who could not live within his means regardless of the fact that living beyond my means meant buying a Model S.

Let me attack both sides a little. The stereotypical Right are fools for thinking climate change is not a problem, or even bigger fools if they just don't want to do anything about it. The stereotypical Left are fools for thinking energy efficiency, riding bikes, and growing a vegetable garden will be the solution; that's just a stall that delays the game, but still ends in loss. Sometimes at the cost of a lowered standard of living.

What is needed is serious investments in renewable/clean energy infrastructure (even nuclear would be okay if those in the nuclear industry weren't so incompetent). Poor people can't make that investment. Rich people largely won't, as evidenced by their greedy takeover of Republican policy and the current administration in the United States. It may very well be up to the middle class to save humanity's future by making the necessary investments. For middle class, it is highly debatable what "living within your means" really means, because you could always continue investing in your own financial welfare. What I am saying is that should only extend so far, because in the end, minding your own finances is helping yourself, and that will always be less noble than helping others. When I think about my own legacy, I don't care about how people will view my own financial success; I care only for the success of humanity, and I hope my legacy will reflect that from my attempts to invest as much as possible for the future of mankind.

 

[Quick2Judge]

This guy reminds me of salesmen at traditional dealerships. Something I was happy I could avoid when buying my Tesla.

Forgive me for having wasted 10 minute's of my life. The first 9 minutes and thirty seconds he spent selling his other videos. The last 30 seconds said consider a CPO and don't get every option.

I didn't get to the part suggesting I buy a time share...but I know it was coming.

 

[Skotty]

I don't see it that way.

My position on this issue has always been consistent, as I said here in the "Convincing a Sceptic" thread, last September:





This remains my position. I'm a firm believer in getting your own financial house in order before going about trying to help accelerate the move to sustainable transport by buying an expensive Model S. There's a ton of things a person can do to help the transition to EVs without buying a Model S. There's also better ways to help the environment, and your financial bottom line, if you can't afford to buy a Tesla (or even if you can) such as growing a vegetable garden (I eat from mine every day), bike when you can instead of driving, and the list goes on and on, including perhaps waiting for the Model 3 if that is more within your budget than a Model S.

As I said before in that other thread:



I would never want my children to look back on my legacy as someone who could not live within his means regardless of the fact that living beyond my means meant buying a Model S.

You know what? I'm being pretty grumpy towards everyone. I'm sorry for that. I'm just a little angry at the world right now.

 

[Canuck]

You know what? I'm being pretty grumpy towards everyone. I'm sorry for that. I'm just a little angry at the world right now.

You weren't grumpy with me. I enjoyed discussing this issue with you and I thought you made some good points. You also made me think about my position especially when I said that buying an expensive vehicle is like throwing money down the drain, in reference to Tesla, which isn't true and good for you to call me out on that. Porsche, Mercedes, BMW, yes -- Tesla no.

Sorry to hear you're a little angry with the world at the moment. We all go through that and hopefully it passes fast.