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

[BLKTSLA]

@naylorman32 you've already got some great opinions and advice on what you should do so I won't belabor the points already mentioned.

I will however expand on a specific point of view that I think I was not privy to before I purchased and that is the speed I which Tesla and technology is moving. I too used the "I want to keep this car for 5+ years", however after less than a year I've seen my car go from top of the line to the "old model s" which was extremely disappointing both from a longevity perspective and resale value perspective. Additionally Tesla has abandoned the approach that would have you owning a car for 8 years and then replacing or upgrading the battery for effectively a new car. They won't be profitable if they can't sell new cars often, so no retrofits either.

So the point to consider is how relevant will your car be in 3yrs let alone 5yrs? Also what will the cost be to sustain your car in a few years...example I have next Gen seats outsourced by recaro, these seats have been discontinued in favor of the new Tesla seats produced in-house....how much will it cost to replace this seat in 2yrs when they need to be ordered/made-to-order from recaro then shipped...will they be more expensive or less then what they are now at $6k?

If I had to do it again with the same mindset, same as you I would set my expectations for a 3-5yr life of the car instead of 5+ years and expect there to be lots of changes that will push my car further into a costly to maintain longer term zone.

 

[troypercival]

I honestly don't think you be keeping your car for longer than 8 years, which is when the battery and drive unit warranty end. My previous car is a Honda that I kept for 9 years and before that a Toyota for 7 years until it was total in an accident. So if you look back at your car buying history, you will get an idea can you really hold off that long for a new car.

For Tesla, if you think that you are buying the driving experience (AP, instant acceleration, technology, etc.) instead of material good. It's likely you will be keeping your car longer. Just remember if you keep your car beyond 8 years and there is any problem with battery and drive unit your car will likely be worthless.

Another way to reassure yourself is can you afford to pay for the Tesla you want in cash today, because if you can't afford a Tesla in cash and you have an Audi without problem I would suggest you wait until M3 come out or next major update before jumping in.

 

[Lasttoy]

I just bought a 85. Wishing it was 100. I have driven 2000 miles in a week. Free. I plan a tour of usa this summer. Not pay west coast gas prices. Buy a 100 if you can afford it. I got stuck in bad traffic in atlanta last week, for 2 hours, almost ran out of charge . I live 5 miles from supercharger, so i go charge everytime it gets down to 30 miles. In the end you Figuer ROI over 5 year period. Then 10 year. But as post above said, we are doing our part to cut down on oil.
I have solar on roof, power company owes me.

 

[Lasttoy]

I pray TM will offer a reasonable battery replacement in 8 years? We can't wear the car out, but batteries will die.

 

[naylorman32]

Additionally Tesla has abandoned the approach that would have you owning a car for 8 years and then replacing or upgrading the battery for effectively a new car. They won't be profitable if they can't sell new cars often, so no retrofits either.

So this is an interesting thought, as its one of the reasons i figured getting a Tesla would be a smart 10+ year "investment" in my mind. If new batteries wont work in the current models, lets say 5 years from now, am i left with a close to useless high millage model s, with no option but to spend another $50K for a refreshed model?

 

[Btrflyl8e]

Know that a pretty good number of Tesla owners bought thinking they'd keep their Model S for a long time and drive only xxxxx per year. That was also me. I tried to wait until I could pay for mine in cash (i almost made it), and chose the 60 because it was all I needed based on how I used my cars in the past (road trips? I'd rather have a root canal, tyvm).

In the first year, I would sit around trying to think of road trips to take. I drove my 60 from Tampa Bay to Boston. I drove it to Charlotte several times. And it was a 2013, so no AP, heck, it didn't even have parking sensors. Just shy of 3 years later, I was compelled to order myself a 90D. Again, I tried to wait until I could pay cash but ordered just before I reached that goal, lol. My 60 had nearly 50,000 miles on it when I sold it in late March. I took delivery of my 90D on May 25, 2016, and I already have close to 23,000 miles on it.

Just know that for some, this is what a Tesla does...it changes EVERYTHING. Buy the car, but be forewarned...you aren't going to keep it as long as you think, or put as few miles on it as you think!

 

[cbdream99]

I love the car and it's cool today (except some advance safety features like AEB, RCTA where other manufacturers are already there and Tesla is still debugging it),

Tesla looks like a disposable car just like Apple iphones. In 8 - 10 years, the battery and drive train most likely still works; but finding a replacement may be hard as technology already evolved and Tesla already have problems keeping up parts with production and repairs today, what will happen in years down the road ? May be they will open up for third party or there will be re-furbished drive train or battery.

For other parts like center touch pad, door handles, lift gate motor, chair motor, braking system, computer - they do break down ... finding the parts may be even harder putting cost aside.

 

[Sir Guacamolaf]

I'd suggest to throw "financially smart" out when you are buying a car, and ask yourself
- Will it make you happy,
- Can you afford it without stressing yourself. Including ownership costs.

If the answers are yes - then go for it.

I will say though that I really really doubt you'll keep your Tesla for 15 years, so don't go in with that expectation.
- Reliability isn't that great, and repair costs are high. First 4 years not an issue. Next 4 you can buy ESA. 15 years ... time will tell, but signs right now seem to point towards "not a smart idea".
- Things will get outdated, and you'll be back here lusting over Model S 2021, trying to justify it as a financially smart decision, knowing very well it is not.

 

[jbcarioca]

Know that a pretty good number of Tesla owners bought thinking they'd keep their Model S for a long time and drive only xxxxx per year. That was also me. I tried to wait until I could pay for mine in cash (i almost made it), and chose the 60 because it was all I needed based on how I used my cars in the past (road trips? I'd rather have a root canal, tyvm).

In the first year, I would sit around trying to think of road trips to take. I drove my 60 from Tampa Bay to Boston. I drove it to Charlotte several times. And it was a 2013, so no AP, heck, it didn't even have parking sensors. Just shy of 3 years later, I was compelled to order myself a 90D. Again, I tried to wait until I could pay cash but ordered just before I reached that goal, lol. My 60 had nearly 50,000 miles on it when I sold it in late March. I took delivery of my 90D on May 25, 2016, and I already have close to 23,000 miles on it.

Just know that for some, this is what a Tesla does...it changes EVERYTHING. Buy the car, but be forewarned...you aren't going to keep it as long as you think, or put as few miles on it as you think!

These are points that are of critical importance when thinking as the OP is. I recall your first posts, and was completely unsurprised when you upgraded. I have already had my P85D for longer than anything else I have owned, and I'll end out trading within the next year to have the new features, probably a loaded Model 3, but maybe another S.

It takes determination and discipline to avoid changing in order to have new features and/or new battery technology. I have a couple friends with very early Model S (Signatures both) who have debated trading but stayed with their original Tesla instead. I know more than one person with >100,000 miles on an S and still going strong. I had a loaner that had 108,000 when I drive it which acted essentially as a new car.

So, bottom line is that you'll be happy with your choice. You just might find your perspective change when you experience how your attitude towards driving changes. When that happens you need to be prepared to accept that you've become a Tesla addict; not everyone succumbs, but 91% of us apparently do.

 

[xyeahtony]

I disagree with some of the points people think the battery will be needing replacement after 8+ years. My dad has a 2005 prius that still performs decently (gets 40mpg) and thats a 12 year old battery with over 220k miles on it, a far less advanced battery i might add (NiMH...fewer Kwh, probably less advanced BMS). I think the tesla battery can last over 10+ years. And even then you'll start seeing range degradation (maybe) but not to the point where the car can't be driven anywhere. Maybe in 10 years my 243 100% range will be 213 or something who knows, hardly a reason to change out batteries.

I think the idea of having to change out batteries stems from unfamiliarity and relative newness of EVs. Some people didn't want to buy my hybrid because they thought batteries needed replacing, even though there is no official manufacturer guidance on when or if hybrid batteries need replacing. I feel the same about EVs, yes batteries degrade but i dont think to the point where you have to shop for a new battery to keep the car running.

Now will anyone be sporting a 2017 Tesla Model S original config in 2040? probably not. But even cars from the 1960s had their engines rebuilt (a few times) so....

 

[abasile]

Last year, we bought a pre-owned 2012 Model S-85 from Tesla. It won't drive itself and it doesn't have parking sensors or the newest front end. However, it's still an awesome car to drive, it remains in great condition, and it keeps getting better as Tesla rolls out software updates! I don't stress over not having the latest features, as it does everything we need it to do. (Our family is planning to order "full self driving", etc., on our Model 3, but we're keeping our "classic" Model S as well.)

Of course, buying a relatively expensive car, even used, is not something you do to optimize your finances. But buying used may be a way to get what you want for less. The benefit of buying pre-owned from Tesla is that you should be able to get a great bumper-to-bumper warranty. I'm not trying to deter you from buying new if that's what you desire, but if you're wavering because of the money, then pre-owned may be worth considering. Every Tesla is a great car!

 

[GreenT]

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!

3 years ago I would have said "just do it ... buy it ... you'll love it ... everything about it"
Today, I would still say the car is awesome. Love it. Nothing else like it.
The problem today, as documented everywhere, is service. Had I known back then just how bad service would become, I would never have bought one.

 

[jerry33]

I have had my Model S for four years and 86K miles. It's been very reliable and a wonderful trip car (as well as a daily driver). The fuel savings is just the icing on the cake. There's also the convenience of not having to get gas at some dirty gas station, starting every morning with a full tank, the almost one pedal driving experience, etc., etc. All cars are an expense, so your choice depends on what your priorities are.

All that said, what tipped the scale for me was not having to buy gas and the maintenance required by an internal combustion engine. I dislike purchasing things that all you get to show for it is a receipt--now, yes, I know that eventually everything you buy will become just a receipt, entropy being what it is. So I would rather pay a little to the electric industry, than a lot to the oil industry--even if the total cost over time is no different or more (because there's more than just the cost of fuel plus the cost of the car).

The typical reason why cost is foremost in so many discussions is because many--perhaps most--people have the idea that an electric car is a downgrade. It's not. Even the short range EVs that others put out are an upgrade if purchased with the idea that they will be a commuting (second) car rather than the primary car. Of course, this depends on your particular circumstances. Some are happy with a short range EV as primary--I'd suggest that would be a minority subset.

FWIW, my experience with service is that it's been great. Never a problem getting an appointment, loaner Tesla, or the quality of work done.

 

[jerry33]

I pray TM will offer a reasonable battery replacement in 8 years? We can't wear the car out, but batteries will die.

I really doubt the batteries will die just after the warranty expires. I expect 10-15 years or more of battery life. Yes, they won't have the range they did when new, but my car at four years and 86K miles has maybe lost 3% (as best I can tell). Note that the rate of loss is greatest in the first year.

 

[calisnow]

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!

Spending $50K on a car when you have a perfectly good car is never a good financial decision let's be honest. But if you can afford it, and your other financial sucks are lined up then go for it. You won't regret it and the car should last a very very long time.

 

[calisnow]

Okay I'll modify this somewhat. Some folks who drive a lot spend $500+ per month in gas and also drive luxury cars. For them the Tesla IS a real financial win as compared to an AMG Benz for example. It will never be a financial win vs a Prius.

 

[Pezpunk]

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

very few people keep a car ten years, let alone fifteen. of course there are exceptions, but that's just not how 95% of people approach car ownership. a lot of people do tell themselves they will, though.

your argument about timing is sound -- your current car will continue to depreciate, and by next year the $7500 federal tax rebate will be gone. those are good points.

but honestly, trying to spin a Model S into a thrifty financial investment is an exercise in self-delusion. it's an absolutely amazing car and you should definitely get one if you can afford it without financial stress, but it's not going to save you a ton of money in the long run.

 

[xborg]

Also consider the other options.
Maybe keeping the Q5 and getting a cheap leaf?

 

[oktane]

No. You have not done enough research. You don't buy a Tesla to save money. It's because you want to be part of the future and have money to burn. This is an expensive car for what you get. It drives and feels like a $35,000 car but there's Nothing else like it. Repairs out of warranty may be expensive.

If money is an issue please wait to get the Model 3 which will give you all the benefits at 1/2 the cost.

 

[caltechkid]

I just bought a 85. Wishing it was 100. I have driven 2000 miles in a week. Free. I plan a tour of usa this summer. Not pay west coast gas prices. Buy a 100 if you can afford it. I got stuck in bad traffic in atlanta last week, for 2 hours, almost ran out of charge . I live 5 miles from supercharger, so i go charge everytime it gets down to 30 miles. In the end you Figuer ROI over 5 year period. Then 10 year. But as post above said, we are doing our part to cut down on oil.
I have solar on roof, power company owes me.

How exactly do you "run out of charge" in traffic when you aren't going that fast? You do know SC access is primarily to enable long distance travel, right?