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Model Y Launch/CoronaVirus/Likely Recession
- Thread starter zedtava
- Start date
Everyone has different circumstances, so what one person does might not work for others, so YMMV.
Interest Rate is so low that its good as cash.
IIMHO, Cash flow is king, much better to leverage a loan with a compromise for monthly cashflow...while still having your nest egg and other investments...
Interest Rate is so low that its good as cash.
IIMHO, Cash flow is king, much better to leverage a loan with a compromise for monthly cashflow...while still having your nest egg and other investments...
feigen66
Member
depends the situation you are in, I consider not spending $5K on engine leak is a major saving.
the stock is back to August last year. it's great time to go in for investment.
the stock is back to August last year. it's great time to go in for investment.
Catbiscuits
Member
I’ll try to get a loan from Tesla. I’m living off investments and have lost $800k in the last month, but it isn’t the first time that’s happened and I’ll be fine in the end. Or I won’t be and neither will any of us. If I can’t get the loan, I’ll buy it outright since even though I, down 15% since the high, I’d rather not pay repair bills on my current vehicles anymore. I just spent $1178 on a new fuel pump for our BMW wagon. (140k miles).
Aarons12
Enjoying my Pearl White LR AWD with inductions
i'm just sitting here thinking how i might be able to do that if the market really tanks. we are basically fully invested and buying the tesla with accumulated cash reserves that we probably would have eventually sent off to our investment manager, but that's not really enough to make a difference for us at this point. i'm thinking more of my office building where i could either sell it and invest at some low point, or similar.
Market crash is going to impact our decision to get her Tesla Model Y. Going to be hard to justify getting this car with falling oil prices and more importantly our portfolio taking a major hit. This without the markets opening this morning. I am sure they will halt trading in the first hour or two. She currently drives a 2011 Honda Odyssey with155K miles on it. This was going to probably be her last car (may 2nd to last) she buys. She keeps them forever. Now I need to consider a bridge ICE car or roll the dice with her current van. I don't like either option. I know some of you guy are in much different financial situations. We have always lived by cash. We don't though have piles of it. As it stands now, we will both be working longer if the market does not recover.
I get that this virus can spread easy, but wow. We are now falling into a global recession as a result. I am sure I am not alone in this situation.
Signed....frustrated.
I get that this virus can spread easy, but wow. We are now falling into a global recession as a result. I am sure I am not alone in this situation.
Signed....frustrated.
You gambled keeping money needed for a new Model y in the stock market, and lost the bet. My 401k took a big hit, I'm sure. I'm not trying to be mean, but how can you say you live by cash and then keep money needed for a purchase in the stock market? That money should have been in something more secure. Yeah it would have been earning much lower interest but at least it would be very safe.
MXLRplus
Active Member
The problem is not economic, it's driven by panic. There are not enough cases anywhere in the world to actually have a serious effect on the workforce. People under 50 are thinking it's a cold. Children are somehow immune from symptoms.
Whether it's right or wrong, I see the stock market as having a Clearance Sale, many stocks of profitable companies are now 1/2 price.
We would normally buy our cars cash, but we put the money into the market instead and financed the MX at 3.15%. Heck many of my stocks pay higher than that in dividends.
Whether it's right or wrong, I see the stock market as having a Clearance Sale, many stocks of profitable companies are now 1/2 price.
We would normally buy our cars cash, but we put the money into the market instead and financed the MX at 3.15%. Heck many of my stocks pay higher than that in dividends.
Those vans last forever if maintained. I had a 2000 Honda Accord V6 that had over 300K miles that I sold after I got the Model 3. Your van has the same drivetrain as my old Accord. Only thing that could take it out is rust. Good luck!
LasVegas2019
Member
The problem WAS panic but now it IS economic. As businesses close due to no customers, the layoffs will begin. Unemployment rates will jump and consumer spending will fall significantly. No one will fly or take trips. Earnings for all companies will fall. This is what the market is telling us. There will be a global recession for at least 2 quarters, maybe more. We are not even close to the clearance sales yet. It's going to get worse before the recovery starts. Google the Goldman Sachs investment update today. It explains all this much better than I can.
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LasVegas2019
Member
yes you will. Tomorrow. and the next day and for the foreseeable future.
LasVegas2019
Member
you are not alone. The markets have a tendency to be correct and they are telling us there will be a global recession for at least 2 quarters. Sadly I feel we are not near the bottom yet. The S&P 500 gained approx. 31.5% last year. So far this year we are down 15+% (before today's action) I fear we will drop another 15% to erase all gains from 2019. If you were in the market all last year, you are still up around 15%. Take that gain now and buy the Tesla. The longer you wait, the more of your 2019 gain will disappear.
LasVegas2019
Member
It is going to get worse for many reasons but at some point the market will recover. Some very smart people are saying we will have a very short global recession followed by a return to market highs. When will that happen? Who knows but I have learned never bet against the American consumer. At some point the pent up demand to spend will burst out.
LasVegas2019
Member
that's an interesting plan. Real Estate is the only good place to be right now. The people who are fortunate enough to buy equities at the bottom will make huge returns. But when will that be? All I know is not anytime soon.
lowtek
Active Member
The best place to be right now is buying up all the great stocks on sale. Economy is fine ... buy buy buy!
Aarons12
Enjoying my Pearl White LR AWD with inductions
yes, that's why it's only a passing thought. i own the building where my office is, plus it has 2 small rental units. it's been paid off for 8 years now. and in one way to look at it, it only cost me $25k down. the rest came from the rentals and the rent my office pays, which we would have paid anyway. it's also at the main intersection of our town and considered one of the most prime pieces. so i am not actually doing anything, we're very conservative.
plus my big reason for buying it was to be in control of my own office. so i would lose that, and i'm not planning to retire for maybe 5 more years.
MXLRplus
Active Member
It's not economic yet, but closures of businesses is due to panic, not due to actual risk, or every flu season we would see the market collapse. If the media never reported it, there would be no losses yet. It doesn't have enough sick workers to warrant closing businesses, it's hysteria, which is very real, but it's not 9/11 or even Swine Flu which killed over a half million people globally.
575k deaths, a billion people sick, and the Dow skyrocketed upwards while it was happening. It hit in 2009 ended 2010. Look at the Dow.
The minute they stop 'marketing' this panic, stocks should recover quickly.
