I'd like to preface this thread with the statement that I'm only 24 years old and obviously ordering a Model S will be a massive purchase for me.
It's been a dream of mine since 2012 to own a Tesla and back in April I preordered the Model 3 thinking that was the only way I'd ever be able to afford one. However, with the new entry level price of the Model S coupled with the $1,000 referral bonus and it being so close to the end of the year (get the $7500 tax credit back sooner), I'm starting to think ordering a Model S may be in the cards for me.
I'm debt free with the exception of my home mortgage. My income has tripled within the last year and a half (obviously I understand this isn't sustainable) and I'm making more than double the median income in Kentucky. Job security isn't much of a concern either because I'm a manager at a Fortune 50 company that's been around for over 100 years.
I'm not mentioning all of this to brag, I just feel it will answer a lot of questions that will likely be asked of me.
With all of that being said, the Model S I'm looking to order is $74k with the $1k off and the build can be found here: http://bit.ly/2auV1AE. I do plan to upgrade the battery and add auto pilot later on once I save up enough.
The two things I keep going back and forth on are one, the dual motor option and two, whether or not to get the carbon fiber décor. Living in Louisville, KY the winter weather can get pretty bad so I see the benefit of getting the dual motor option. From the simulated images the dark ash wood décor does not look very good to me but, I don't know if it's worth the extra $1k to upgrade.
Financing wise I'll likely use the Alliant Credit Union 1.74% 78 month option unless I can find a better deal elsewhere (yes I do qualify). The amount financed will likely be around $60k to keep my payments around $800 a month. Insurance wise, it's going to be about an additional $150 every six months from what I'm currently paying.
After delivery I plan to have the windows tinted and the 19" slipstream wheels powder coated black costing around $800 for both. Once I get the $7,500 tax credit back I may invest in paint correction plus Xpel for the front end and Opti-Coat Pro+ on the whole car (haven't received any quotes back on that yet).
I have about $2k a month in what I refer to as discretionary income above and beyond bills (mortgage, utilities, insurance, foot etc.) so, I can afford a $800 a month payment.
What I'm really looking for as an advice or words of wisdom with making such a large financial commitment at a young age.
Thanks,
Corey
It's been a dream of mine since 2012 to own a Tesla and back in April I preordered the Model 3 thinking that was the only way I'd ever be able to afford one. However, with the new entry level price of the Model S coupled with the $1,000 referral bonus and it being so close to the end of the year (get the $7500 tax credit back sooner), I'm starting to think ordering a Model S may be in the cards for me.
I'm debt free with the exception of my home mortgage. My income has tripled within the last year and a half (obviously I understand this isn't sustainable) and I'm making more than double the median income in Kentucky. Job security isn't much of a concern either because I'm a manager at a Fortune 50 company that's been around for over 100 years.
I'm not mentioning all of this to brag, I just feel it will answer a lot of questions that will likely be asked of me.
With all of that being said, the Model S I'm looking to order is $74k with the $1k off and the build can be found here: http://bit.ly/2auV1AE. I do plan to upgrade the battery and add auto pilot later on once I save up enough.
The two things I keep going back and forth on are one, the dual motor option and two, whether or not to get the carbon fiber décor. Living in Louisville, KY the winter weather can get pretty bad so I see the benefit of getting the dual motor option. From the simulated images the dark ash wood décor does not look very good to me but, I don't know if it's worth the extra $1k to upgrade.
Financing wise I'll likely use the Alliant Credit Union 1.74% 78 month option unless I can find a better deal elsewhere (yes I do qualify). The amount financed will likely be around $60k to keep my payments around $800 a month. Insurance wise, it's going to be about an additional $150 every six months from what I'm currently paying.
After delivery I plan to have the windows tinted and the 19" slipstream wheels powder coated black costing around $800 for both. Once I get the $7,500 tax credit back I may invest in paint correction plus Xpel for the front end and Opti-Coat Pro+ on the whole car (haven't received any quotes back on that yet).
I have about $2k a month in what I refer to as discretionary income above and beyond bills (mortgage, utilities, insurance, foot etc.) so, I can afford a $800 a month payment.
What I'm really looking for as an advice or words of wisdom with making such a large financial commitment at a young age.
Thanks,
Corey