I need reassurance I am making the right decision on a Model S

[naylorman32]

Hi everyone,

I just signed up here so i apologize if a similar thread exists.. but i am very close to pulling the trigger on a new model s 75D. I currently have an Audi Q5 with just under 60K miles, and its completely paid off. Its given me no issues whatsoever, so i really dont need to get a new car.

However.. i started a new job about a year ago and found out we offer free electric vehicle charging in our parking lot, so that is vasiclaly $100 in free gas each month. I always have wanted a model S so after doing a test drive and playing with some numbers, i have gotten to this point where I am just looking for some reassurance that spending around $50K for a new car is a smart decision.

My justification for it is pretty simple: I spend the $50K over the next 6 years to get a car that should last me at the very least, 15 years... I put maybe 10K miles on a car in a year, and hearing that most tesla batteries maintain like 95% of their charging capacity after 150K miles, i'm led to believe this car should run beautifully (knock on wood) for those 15 years. Then after i reach whatever the battery threshold comes out to be where its time to replace it (does anyone know this milleage # yet?), i'd just cough up the money to get new batteries, essentially giving my model s a new life.

Have I done my research on this enough? Or am i misunderstanding how this should work. I just want to make sure that me getting off of a car in which i owe no money, for an expensive electric car, is actually a SMART decision for me... especially while my Audi has some value (i've been told its worth about $18K).


Looking for some feedback. Thanks everyone!

 

[xyeahtony]

If you want me to tell you the car will last for 10+ years (and possibly 15) i will say yes it will. The car honestly will probably break down before the battery. I plan on keeping mine for at least 5+ years and then upgrading to the next generation model S (whenever that will be). But i fully expect the car to have over 125k + miles in that time frame. I've found myself driving a lot more than i used to in ICE cars, simply cuz the Tesla makes driving fun again.

If you want me to tell you it was a smart decision, haha :| meh. Tesla's are nice to have, but nobody buys a tesla to "save money." Some people buy it to save the environment, most buy it to have a cool car. And it is a very cool car. I will say the 75D is the best financial choice however. The 90 and 100, while providing more range, is not as big of a bang for your buck as the 75 especially with how close superchargers are spaced.

 

[naylorman32]

thank you for the quick response! Here's more of my rationale:

My car is worth $18K now, lets say I drive it for another 3 years until it has around 100K miles on it. At that point, it will be 9 years old, and worth i'd say maybe $8K.

If I wanted a Tesla as my next car, not only would my current car be worth much less, but the tax incentives would be long gone.

If I wanted another ICE car, i'd be spending another $50K for a new car anyway, assuming i didnt want to just continue driving my Audi until around 150K or so.

So i feel like no matter which way I look at it, i'm going to spend around $50K for my next car. I either do it now, and take advantage of tax incentives and the current value my car still has, or i wait another 3 or so years, save up more money, and get a ICE car because the incentives will be gone to get an electric car. Make sense?

 

[Haxster]

I suggest that you buy the car because you want it...not to save 2%/year of its cost in fuel.

I keep my cars a long time (17-30 years). I keep my computers a long time (3-10 years). As cool as the Model S is, I put it somewhere between a car and a PC in term of practical lifetime.

 

[naylorman32]

well its not necessarily the savings from fuel that matter most to me, especially since its so insignificant... its more of a good excuse to finally be like "well i can charge my car while at work, so why wouldnt I get a Tesla "

 

[bonnie]

well its not necessarily the savings from fuel that matter most to me, especially since its so insignificant... its more of a good excuse to finally be like "well i can charge my car while at work, so why wouldnt I get a Tesla "

Get it. You won't regret it.

 

[naylorman32]

again, thank you everyone for the quick feedback! can i assume most of you plan to keep your model S (assuming its your first one) for hopefully 10-15 years? unless you want to upgrade to AWL or some feature that can only be added via factory, i'm having a hard time understanding why people trade in a model s just to get another... that is unless money is just no object and you want a new color haha

 

[Haxster]

well its not necessarily the savings from fuel that matter most to me, especially since its so insignificant... its more of a good excuse to finally be like "well i can charge my car while at work, so why wouldnt I get a Tesla "

I love my MS and I don't want to talk you out of getting one. But as I'm sure you know, it's not the only EV out there that you can plug in at work. And more are coming...

 

[Haxster]

again, thank you everyone for the quick feedback! can i assume most of you plan to keep your model S (assuming its your first one) for hopefully 10-15 years? unless you want to upgrade to AWL or some feature that can only be added via factory, i'm having a hard time understanding why people trade in a model s just to get another... that is unless money is just no object and you want a new color haha

Why do people get a new iPhone every year?

 

[ggnykk]

I personally think the best strategy is to lease the Tesla car for 2 or 3 years, and then keep leasing the next Tesla. It is way better than buying the car, and keep it for 10 or 15 years. The reason is that battery and EV technology is changing so fast that every few years would be a dramatic changes in technology and capability. Kind of like smart phones in the early days where the phone is dramatically different and more advanced every two years or so. But now, this year's smart phone is not much different from the ones released two years ago. I believe EV is kind of half-way between these two situation currently, so it is best to lease.

Also, I think buying anything that depreciate for sure is never a good "investment" to begin with. So looking at buying any car from an investment stand point is kind of pointless. I think your decision should be based on your use cases, and what you believe in (i.e. supporting green technology, do you believe in climate change etc).

 

[naylorman32]

I love my MS and I don't want to talk you out of getting one. But as I'm sure you know, it's not the only EV out there that you can plug in at work. And more are coming...

ive looked at most of them to this point and i can confidently say i prefer the tesla over any of them

 

[naylorman32]

I personally think the best strategy is to lease the Tesla car for 2 or 3 years, and then keep leasing the next Tesla. It is way better than buying the car, and keep it for 10 or 15 years. The reason is that battery and EV technology is changing so fast that every few years would be a dramatic changes in technology and capability. Kind of like smart phones in the early days where the phone is dramatically different and more advanced every two years or so. But now, this year's smart phone is not much different from the ones released two years ago. I believe EV is kind of half-way between these two situation currently, so it is best to lease.

Also, I think buying anything that depreciate for sure is never a good "investment" to begin with. So looking at buying any car from an investment stand point is kind of pointless. I think your decision should be based on your use cases, and what you believe in (i.e. supporting green technology, do you believe in climate change etc).

so this leasing strategy is actually what my dad says i should do. you make a great point about battery tech constantly changing. But after the 5 year mark, my tesla becomes fairly cheap to maintain (again, knock on wood), vs me constantly paying for something I will never own. This might just be my mindset against leasing, but i do agree that a battery based car is a whole different argument than ICE cars in this sense.

 

[ggnykk]

so this leasing strategy is actually what my dad says i should do. you make a great point about battery tech constantly changing. But after the 5 year mark, my tesla becomes fairly cheap to maintain (again, knock on wood), vs me constantly paying for something I will never own. This might just be my mindset against leasing, but i do agree that a battery based car is a whole different argument than ICE cars in this sense.

Usually at the end of the lease period, there is an option where you can buy the car outright. And the price is usually pre-determined when you sign the lease contract in the very beginning. So even if you lease it, you can still buy it at the end.

 

[cbdream99]

Some owners have reported the high cost of replacing items after warranty expired.. although the drive train and battery has 8 years unlimited miles but others are 4 years 50k only, so I am highly skeptical the battery is the only item you will replace in 15 years.

 

[eye.surgeon]

1. don't spend a dollar to save a dime.
2. you won't be driving it in 15 years.

 

[naylorman32]

Usually at the end of the lease period, there is an option where you can buy the car outright. And the price is usually pre-determined when you sign the lease contract in the very beginning. So even if you lease it, you can still buy it at the end.

If i leased the car, wouldnt that automatically negate any tax incentives if i wanted to buy it down the road?

 

[ACExpress]

I can't speak for others, but money doesn't grow on trees in my neighborhood, yet there's little chance my 2017 Model S makes it to year 10, much less 15.

I will echo what others have said that it's very difficult to justify financially. That doesn't mean go blow money on what you want and never look back, but just recognize it's a luxury purchase that is still rapidly evolving. More features will come out and others will be promised soon after you pull the trigger. What's available in 8 years will likely be significantly better than what's out there today with more than just Tesla participating. In my opinion, I wouldn't look at a Tesla as a 10-15 year decision. Others will feel differently.

I'm a pretty conservative guy in most of my spending habits (more of a saver), and the $89k purchase (pre $7500 credit) was $60k more than I'd ever paid for a car. Unreal splurge for me. I traded in a Silverado I'd owned for 7 years, and I've owned the S for a grand total of 6 weeks. No ragrets...not even a single letter. Amazingly fun car to drive.

 

[xyeahtony]

Buy the tesla, you will get tax incentives.

You can lease to save money, but if you're leasing because thats all you can afford then don't buy a tesla. I don't believe in leasing mostly because i drive more than 15,000 miles in a year and plan on keeping my cars for more than 3 years. With supercharging and AP 2.0 i feel as if my model S is fairly futureproof.

 

[dhh12]

This is a really complex thread. Let me simplify.... If you want one and you have the money buy/lease it.

I had three Panamera Turbo's before I bought my P90D and I could not be happier but I already can't wait to see what the next refresh looks like ....

 

[Bridor]

I paid $75,000 for a used 2014 Tesla Model S 85 with no autopilot. I love it and already have put over 60,000 miles on it in a little over a year. I am going to keep it for ten years at least and then will give it to one of my kids and buy another one... Buy it now - it is the best vehicle you can buy today.