How will you pay for your new model 3?

[Chrisuk83]

OK, so I was think how everyone will pay for the car. Cash? lease? Loan?
I was always in the frame of mind I would never buy a new car due to initial cost and depreciation. However with the model 3 things are different (for me at least) I do around 70k miles a year so the car will almost pay for its self in a year or so (fuel is around $7 dollars a gallon here in the UK) leasing is out of the question for me due to the high mileage.

 

[wallet.dat]

Probably sell a few Bitcoins, I dunno.

 

[Bimbels]

Cash money.

 

[Enadler]

If interest rates remain where they are for car loans, under 2% I will take out a loan, otherwise cash money!

 

[Socom]

I'll be putting down a good amount and then financing the rest. Can't hurt to have a loan for more credit

 

[StudMuffin]

I'm buliding a house a year from now doing a lot of work myself I will just roll the 50k in the house payment. No car payment!

 

[Smokkelaar]

I go for lease.

In the Netherlands EV leasing is the cheapest way to ride a EV.
If i lease for my work, i don't have to pay income taxes on what i spend on the model3. so that is a ~36% (41% - 4% "bijtelling")profit. for the dutch guy under us, i have no intention to explain the complex dutch tax system .
The company itself that leases my the car get also a 36% profit trough other rules. So that is almost 49% off.
Yes the lease company makes some profit and some marges... it is equally expensive as a Renault Clio leasing what im doing right now. The way people are buying this car will very depend on the local tax rules.

 

[AU1985]

I will be getting a loan and the only money I will put down is the 1k I used to reserve and whatever additional $$$ they make you put down when you sign the purchase agreement...I'm in sales/marketing and drive 150 miles per day - 60 for commuting miles and my company reimburses me .50 a mile...I will just use my expense checks to pay for the monthly payments...savings will continue to go into my emergency fund

 

[Chrisuk83]

Think I will do cash. It's crazy to think that my current fuel bill (around$25k) will almost pay for the base model . can wait to get it. Tick tock...

 

[JoeDesmo]

with some Tesla stock capital gain proceeds

 

[pinski]

Combination of cash and financing. More financing if the rates stay very low.

 

[zer0cool]

Depends on a lot of things, interest rate, lease rate. If lease rates are attractive (particularly early due to tax credit), then probably lease. If lease is not attractive and interest is good, then just borrow the full amount. If interest rate is not good, then can do a combo of loan and down. I highly doubt rate will be high enough to entice me to pay cash.

 

[Tigr2003]

We are saving for our Model 3. Then all cash!

 

[vinnie97]

Fully financed unless I chance upon some financial windfall.

 

[manitou820]

A combination of cash and financing. Depends on too many factors between now and then.

The interesting thing is I expect a lot of pre-orders to be canceled when the time comes to buy because of financing. A $40k loan (small amount down with tax) at 6 years and 4.5% interest is $635 a month. I have a feeling a lot of people will back out when they see the monthly payment. Regardless, Tesla will sell boatloads of Model 3s. I just hope this means I'll move up the line a little sooner.

 

[EBenke]

Amex

 

[HenryNDH]

Lots of Benjamins

 

[ShockZen]

The Idea is to save up as much as I can be for production starts and then do a combo of cash and financing.

 

[Philcasi]

A sizable down payment from selling a car and saving until drop date and finance the rest.

 

[tvuolo]

Does anyone have a list of Banks and Credit Unions that offer a discount on rates for purchasing an EV?