Hi. I am expecting delivery of my MY next month. A friend expressed concern about the financial stability of Tesla in the current economic environment and suggested looking into leasing it, in the event that Tesla might actually go under. I don't see a leasing option for the Model Y on the website. Does anyone know anything about this? Does anyone think there could be a real concern about Tesla's future? Don't want to get stuck with a car I can't have serviced/charged...
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Model Y - Financing?
- Thread starter erreeves
- Start date
LevelHeaded
Member
There are hundreds of thousands of Teslas on the road. If Tesla were to go under, service and charging would still be widely available. Plus, it wouldn’t completely evaporate, it would be sold and continue to exist in some form(s).
Tesla is the most valuable auto company in the world, they’re on the verge of being eligible for the S&P 500. They posted a profit and sold more vehicles than any other auto maker, gas or electric, in California last quarter. They also make energy products. They aren’t going under anytime soon.
Tesla is probably the last automaker out on the market that you probably need to have this concern with - at least in my opinion. If you look at the statistics and trends across the automotive industry, over the last several months, you should be able to see how Tesla has performed quite differently than the other players. And remember, Tesla isn't just in the business of making cars. However, the economy has been fluctuating so I can understand your and your friend's concerns. If you're truly concerned, I believe certain auto insurance companies do offer policy options to help protect you to an extent in certain events affecting your loan. I imagine this sort of coverage will cost a hefty premium, but it might be worth looking into if you want a better piece of mind.
rafa2020
Member
I agree! They aren't going anywhere. In a worst case scenario someone would pick up their assets and resuscitate the company even if pared down.
Mach Y
Member
Fyi I just got 2.49% financing on my Y through a Tesla arranged loan ... maybe end of quarter had something to do with it, but I'm not complaining.
+1 on Tesla stability ... they are doing something that no other car company has ever done, I imagine people would be lining up to back them and their ecosystem should they run into serious trouble.
+1 on Tesla stability ... they are doing something that no other car company has ever done, I imagine people would be lining up to back them and their ecosystem should they run into serious trouble.
Levo
Member
There are no leases available. I tried third party lease without success. Tesla will not start leasing until probably next year. I doubt Tesla will go under. Y will be a big seller.
TomServo
Active Member
Tesla isn’t going anywhere. On June 29th we ordered our retirement car and got a 60 month loan for $22K for 2.49%. However once or twice a year my military CU makes this deal where if you refi with them they will lower the % a full point and make one payment. So since 2.49% was the same as my military CU I’m taking the Tesla arranged financing with US Bank and will refi down the road. WIN - WIN
If you email them and ask the get a loan through Chase instead of US bank, they might get you a better rate. People have seen 2.14%, 2.19% etc. The loan is not provided by Tesla, they are just the middleman.
This was still a narrative in June? Did you ask your friend how his short position was doing?
I’m more curious as to whether Tesla will be the exclusive American car manufacturer in the future than I am it will not exist in 5-10 years.
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