Ordering Advice

[Advicebox]

I'm 42 and would never have been in a position to purchase any configuration of Tesla at your age, but I did write a post tonight that focuses on why an under $60K configuration is still a great configuration and a few thoughts on why I might even reconsider going with a 60 kWh in the future. Take a look ... My Next Tesla Under $60K

 

[Max*]

I say go for it.

The other thing with a 6 or 7 year loan, you can pay more money into it and pay it off early. But if an emergency comes up, you can't pay less into a 3 or 4 year loan (yes, you'll pay a little more in interest in the first case, think of it like an insurance policy).

I've done that with most of the loans I take. I take them for longer than I intend to pay it off (I could have gotten a 15-year mortgage, instead I went for a 30 and throw extra cash at it; with my previous car I could've gotten a 3 year car loan, instead I went for 5 and paid it off in 3; etc. but when we decided that it'd be better for my wife to stay home for 2 years when our kids were born, we didn't have to worry where to get the money from - we just stopped paying extra into a few loans, and bam, we had enough money to comfortably live on 1 salary).


So, in short, I agree with the strategy of getting longer loans and paying them off quickly. It's a relatively cheap insurance policy.

 

[scottm]

You will be getting into a situation that very likely will put you upsidedown on the car loan in 2 years, which means you'll owe more than the asset is worth. If you need to cash out and sell the car to grab the value it still has for whatever emergency reason, the difference would be a complete loss that you'll still have to come up with and pay the bank as ongoing loan payments, meanwhile having no car to drive. You will need some other transportation so budget for that while still making those Tesla payments.

Have you considered leasing?

 

[PtG62901]

My children are your age, and this is what I would tell them. There is only one way to be rich, and that is to have money in the bank. The right thing to do, is to drive a used Ford, and bank the extra money. Sounds like you have had a great financial run over the last year, lock that in forever by saving the winnings. If you have another great set of years, maybe then? Take your money and read a book, travel, workout, invest in yourself. It is nice to have a flash car, but that is something for old men, not a young man who should be building a career. I have tried, the car will not make you better looking, stronger or attract better women, all those things you earn by doing work.

But if you must, I would consider the cheapest MS, to have better resale. Check the car insurance rates, be sure. We don't have many super chargers around here, so make sure your travel paths work.

Lots of time for toys, 24 is the time to build your future. Delay gratification as long as you can.

Good luck.

 

[Vittitow]

Thank you everyone for your input. Still can't really find anything CPO that I'd be satisfied with, yeah there are some fully loaded 2013-2014's out there but I still want the dual motor configuration and they also push me over $60k which when factoring in the $7,500 tax credit and the $1,000 off, it really doesn't make much sense to me.

I like the idea of leasing but it isn't offered in Kentucky. It's offered in Indiana and I have a friend that has a residence there but I highly doubt I'd be able to work the system into getting one that route.I spoke with the leasing department and they referred me to some third party leasers but I'm cautious of that route.

 

[NikeWings]

Signposts........they act as guidance or a 'clue' to an unclear or complicated issue.
No need to rush into anything right now.

 

[Kandiru]

FYI to be happy you will need 85kW batteries, in real life with extreme winter you will be lucky to get 200 miles.

If you live where they speak Spanish you may do with RWD, otherwise you will need the AWD.

Do not go CPO, but get a used car, your warranty could be 7+ years as opposed to CPO's 4.

Save up, invest, it will come.

Sorry, leasing is a terrible waste here, I would understand if OP had a large income and get easily bored with cars, the thing with performance BEVs is that they shockingly simple machines and perform well all the time so I would keep mine for the duration of the battery warranty.

 

[Caboom]

If i were you, i would buy an inventory model. it's much cheaper and you will with a bit of patience find something you like. Most showroom models are designed to appeal. I have had the p85 and just went to carmax for an appraisal. my guarantee buy back from Tesla is 48k and CarMax will give me 52k so the Tesla holds it's value over 3 years...original price was 102k.

i'm buying a p90dl with no pano...i think the pano is worthless. I don't know anyone who drives their car with the pano roof open...i live in LA and it makes the car even hotter! I bought it from inventory. It was listed at 136,000 and it has 2k miles and they gave me a discount of 28k plus my 1k referral and 1k loyalty program my car is essentialy 106k which is basically what i paid for a brand new one 3 years ago.

Regarding financing or lease. I'm doing Alliant too. I have 2 years left on the existing loan i have now and am selling my car for 52k and my loan balance is 46k so it's much easier to get out of a loan than it is to unload the lease before the term. So i wouldn't be too concerned about the loan. If you have to sell in 6 months you'll take a haircut but it won't be as bad as having to surrender the lease.

just my .02

 

[Galve2000]

I use my pano constantly in spring here in NYC. it does get rather hot rather quickly with the Pano open in summer. but it is nice for those few minutes I use it -- and definitely great for the "shoulder" seasons.

 

[NikeWings]

i'm buying a p90dl with no pano...i think the pano is worthless. I don't know anyone who drives their car with the pano roof open...i live in LA and it makes the car even hotter!

Hi Caboom. Hey, so give me a wave when we next pass........you can't miss me as I am the only one driving with the pano open.
BTW, nice deal on your ludy, congrats.

 

[Odebek]

My advice would be to lease the model S and then buy a model 3. I have concerns about resale value of the existing model S line once autopilot 2.0 and higher density batteries come out. Do a 2 year lease; as current customer, your Model 3 reservation will move to the front and you can buy a well optioned model 3 that you can keep for a decade or more.