Model Y Launch/CoronaVirus/Likely Recession

[zedtava]

Are any of you planning on delaying/cancelling delivery of your Model Y due to coronavirus/recession fears? I was planning on pulling money out of investments to take delivery of a Y Performance, but it seems like a bad time to do it.

Is anyone planning on delaying delivery of your Model Y?

 

[LowlyOilBurner]

No.

 

[Kobicue]

Depending on your career field, emergency fund saved up and how much your financing you car, it's something everyone should seriously take into consideration.

Last thing I'd want to happen is taking delivery of car then soon losing your job to multiply your stress levels x10.

 

[sparcs]

Was planning on getting a loan so already had funding lined up. If anything, interest rates might drop a little which make it easier to get a Tesla.

If I was feeling financially stretched at any point, I would consider downgrading some of the extras like FSD. Absolute worst case is to go down to standard range Y with snow tires in the winter, but not available in 2020 anyways.

BTW, a recession is far from guaranteed. Nor is the severity. Just do what is most financially comfortable for you and use that time to plan things so that car purchases aren't as much of a financial burden.

 

[SandDune]

Everything is lined up, I'm just waiting. At least it's given me something to look forward to while working from home. Schools here are closed, and my employer is having us work from home as well. Stuck in the house for a week now, it's the thing that keeps me happy. But I agree, if this is a stretch for someone, they may want to avoid making the stretch. Sitting in the epicenter for the US, I can attest things will get worse before they get better. Now if they'd just add a VIN I'd be super happy and stop checking every 5 minutes.

 

[Undisclosed]

No, depending on how long it takes them to make RWD I may put in some of the cash that I have saved up for the car in the market..

 

[ftmaybe]

Are any of you planning on delaying/cancelling delivery of your Model Y due to coronavirus/recession fears? I was planning on pulling money out of investments to take delivery of a Y Performance, but it seems like a bad time to do it.

Bad time to do it? Complicated question...


Am I working? Retired? Drawing money for full payment or down payment? Drawing from a marginable account or a taxable account?

Def no one single answer to that one..

 

[hutsy]

I’m 0% equities, 0% crypto. I’m hoping I like the performance Y otherwise I’ll be forced to buy an X. Pretty much my biggest worry right now.

 

[NY_Rob]

Lately I've heard a lot of people saying "I can work from home, so I won't be affected".
Well yes, maybe you can continue your job in some capacity from home.. but the clients your company relies on for income may be directly affected which will impact your employers income which may eventually impact their payroll decisions. You may have to think a few levels deep, but there are not many employed people who would not be impacted (for the shore term at least) if the virus hits the US as hard as it has hit China, Italy, etc..

 

[atrain11]

Are any of you planning on delaying/cancelling delivery of your Model Y due to coronavirus/recession fears? I was planning on pulling money out of investments to take delivery of a Y Performance, but it seems like a bad time to do it.

Is anyone planning on delaying delivery of your Model Y?

I got the 7 seater Performance so I’m waiting anyway. Hoping the markets bounce back by the time my car is ready because I was going to do the same thing and cas our some investments.

 

[qdeathstar]

i’m hoping banks don’t decide to stop lending money...

 

[qdeathstar]

That’s what happened during the financial crisis @sparcs

 

[Rice&Curry]

i am expecting interest rates to drop further. so if you have stocks , keep it and take a loan from a bank , in a years time the stocks will recover to a great extent and you can sell them and pay off your loan.Selling stocks at times of stock market distress is never a good idea and should be the last option.

 

[artfinkle]

Stay the course...

Funny that I agonized over letting myself spend the money to buy a tesla for years, then passively lost more in investments while I was in the office today than it cost me to buy the darn thing.

 

[qdeathstar]

Stay the course...

Funny that I agonized over letting myself spend the money to buy a tesla for years, then passively lost more in investments while I was in the office today than it cost me to buy the darn thing.

77K today...

 

[mobilesuit818]

Don't give in to the hype, the world isn't going to end but definitely be cognizant of the unique situation we are in.

Perhaps it's time to buy Procter and Gamble, makers of the toilet paper that everyone is freaking out about.

 

[ElectricLee]

If anything, getting a Tesla EV will save money in general and over the long term. If you can go to work or if you need to start working for yourself (Driving Uber) will make save on repairs and fuel.

 

[Aarons12]

not changing. my portfolio is managed and stays fully invested, and we were never planning to touch it for the tesla. we are about 5 years from retiring (sooner if we feel like it. we're not rich but we are low maintenance) so this represents a perfect opportunity to let our stuff grow through this mess.

 

[Shayne]

Kinda glad we pulled the cash out early. At least I am not losing money on it just sitting in a bank account . But now gas is going to be 10 cents a gallon who knows . All I know is we will be getting a tesla; that is whenever they start so show their northern neighbours some love. Now how do I get a hepa filter into the Y lol?

 

[zedtava]

Thanks everyone for your insight! I have a meeting with my financial advisor tomorrow, and want to bring up not touching investments and instead taking out a loan. Any advantage to working with Tesla on this?