OWNERS! - do you get awkward questions about price tag?

[gg_got_a_tesla]

I find it particularly awkward when my coworkers come to know of the car that I'm driving. Many of them are polite enough to not talk about price (and are smart enough to go to the Tesla website to look it up).

If it's personal friends posing the question "what were you thinking?!!", I simply come back with "you only live once!"

 

[SCW-Greg]

...I am the one person in my family circle who has worked his butt off, got a decent job, and can (barely) afford this car. I'm finding it very awkward now to explain the price tag to friends and family. As much as I justify it, the reality is that none of them could afford it, regardless of how much of a "value" it is, or how good it is for the environment, etc...

I think a lot of us are in exactly these shoes Dave. Could the money go to improving your net worth, in investments that yield returns, etc. Or just plain old splurging on something like this. But this car is *not* a Panamera, a 750iL, CL550.

For many of us, it's getting over, getting used to, not living a quiet, low key existence. One that doesn't blatantly call attention to yourself. That we may be perceived as "flaunting" this thing.

You simply just shouldn't be too worried about what others think of you.

IMHO

 

[Eric from NE]

"If you have to ask..."

 

[ElSupreme]

The problem is that currently the car IS a toy for the rich... If you can't afford a top end Audi or BMW you can't afford this car either. We've justified the price tag to ourselves for various performance/political/environmental reasons, but the car is still very expensive and out of the reach of most people.

Well I disagree on a couple of points. I could not afford a $80k Audi A7. The fuel costs would put me out. The operating costs of the Tesla are significantly less than a comparable car. The 40kWh car over 5 years is about equal to buying a $35-40k BMW 3 (or Subaru STI) if you include the rebates out there. And it gets even cheaper the longer you hold onto cars. And sure buying the performance makes the car a 'toy'. But a lot of people are using the S as their workhorse daily driver.

I agree it isn't an every(wo)man's car but it certainly isn't in the 'toys for the rich' level. I wouldn't consider myself 'rich'. Upper middle class most definitely. But I live fairly frugally, and saved a bunch for this car. It really is about priorities. And well I have messed up priorities where I think sinking a ton of money into a sweet ride is a good idea.

 

[jackie]

I am really glad this thread has been started and so many brave people have been honest. I was beginning to think my american cousins (a UK way of looking at the USA) were all too rich. Instead I have now found out that you are just like us on this side of the pond. Hard working and really buying (literally) into the EV dream.
I had a similar problem about the price when I went to buy my baby-Jag. I live in the Netherlands we pay way over the odds for ICE cars due to too many taxes. I explained to the salesman that I was concerned about what my customers would think when I turned up in such an expensive car. He then told me a story from one of his customers. The man was also concerned about how it would look to his customers. However his excuse was going to be that his wife had come into some money.
It's been a few years since I bought the Jag and I am getting near the age where my accountant is finding it necessary to point out that life is short and I can afford to enjoy it. Being a nose-to-the-grindstone sort of person I haven't been looking up too much but I have started to notice that many of my idols are passing away and with ages close to and sometimes below mine.
So my excuse is "My accountant told me I had to buy it" and if they ask the price I guess I will just say it depends on the model - I can give you the website address if you want. And by the way the idea to buy into pure EV was originally mine but it is my husband who is now insisting it should be a performance version and in red.

 

[ElSupreme]

I think a lot of us are in exactly these shoes Dave. Could the money go to improving your net worth, in investments that yield returns, etc. Or just plain old splurging on something like this. But this car is *not* a Panamera, a 750iL, CL550.

For many of us, it's getting over, getting used to, not living a quiet, low key existence. One that doesn't blatantly call attention to yourself. That we may be perceived as "flaunting" this thing.

You simply just shouldn't be too worried about what others think of you.

IMHO

Yes this too! Very well said. I have gotten over trying to justify anything over crappy econobox. Many people at my work drive them because they are the best 'transport units' but a 'transport unit' is not what I want. A Prius, Versa, Focus, Fiesta are 'transport units'.

 

[brianman]

"It's more than I wanted to pay, but worth more than I paid. Did you want to reserve one?"

The question flips them into a defensive posture if they were previously in an offensive posture.

 

[Mike_Schlechter]

"If you have to ask..."

I don't share that sentiment. I'm not "rich" but I would say I'm comfortable (of course, living in the NY Metro my salary may be high by many standards, so too are my costs of living). My wife and I are quite frugal, but we do spend on things we see the value in. We save, and plan, and then plan and save some more so we can afford things like the Model S (or at least afford part of it and get a loan for the rest). I can't remember the last time we went out for an extravagant dinner or bought a bottle of wine that cost more than $20. Our vacations generally involve a tent, and our weekends are not spent shopping just because.

Like @SCW-Greg we can barely afford this car, and only because we have worked really hard, and saved a lot along the way. Yes, this is an extravagance that is far from the norm for us. Yes, this is a car that is not tenable for most people, but to presume extreme wealth isn't really fair.

 

[ckessel]

I start with the base model price and comment that after gas savings it gets in the range of a decked out Camry, then note that the price ranges to about 2x with all the long range battery options, pano roof, performance and such though for the most part you can't visually tell the base model from the decked out model. I also typically note I was in the market for the base model, but through some happenstance had some one-time events that I chose to put towards upgrading the car.

If the first step is them thinking they might like Product A, the second natural step is wondering if they can afford it. I don't take offense to them liking Product A and I'm not going to take offense at the natural follow-on affordability question.

People ask each other about costs all the time, albeit sometimes via implication. "How much was it to fly to location X for vacation? Did you get that jacket/shoes/shirt/whatever on sale? Great wine, is it a special occasion thing or something you could break out regularly?" It's an indirect compliment in a way. They aren't asking the price because they think it's an ugly piece of crap and you were a fool to get it at any price. They're asking because they liked your taste.

My limited experience in talking with people about Tesla is that dodging the price question frequently leads to some combination of:
1) Suspicion, leaving them more poorly inclined to Tesla than before the conversation started.
2) Indignation, by dodging some folks feel I'm questioning their financial status or pulling a variant of the "If you have to ask you can't afford it" meme.

I'm generally a fan of the sunshine policy. The light of truth outweighs all other factors. If someone is bothered by facts, that's outside of my control.

 

[sp4rk]

I totally agree. Unfortunately most other people's parents did not do as good a job raising them as ours did us.

Still tough economic times, and haters gonna hate whether they bring it up to you, or just think it in their beanie little heads behind your back. Or get in the car with their spouse to go home and all be talkin smack about you to make them feel better about their own pathetic lives.

Ok, kinddog ... seriously ... it's time to change your avatar!!! That comment had me laughing out loud! Others (those whom you are talking about) will think you're so rude!
Luckily I report to me ... and only my accountant knows my finances, (oh, and the IRS) and like others have said, I never discuss money. I was brought up (UK style) to see it as being "gauche".

 

[wycolo]

"TESLA T_E_S_L_A They're on the Internet." End of discussion. This way they go home with at least the name memorized.

If they already knew the name then they already know the answer and are just chit-chatting. So change subject or better, just drive off into the sunset, using restraint if at all possible.
--

 

[Raven]

Suburbans/Tahoes/Escalades dominate where I live so I tell them it costs the same as a well equipped Chevy Suburban and they give that "oh, that's not bad" look and move to the next question. Of course that's after the tax credit but who's counting?

 

[sp4rk]

I don't share that sentiment. I'm not "rich" but I would say I'm comfortable (of course, living in the NY Metro my salary may be high by many standards, so too are my costs of living). My wife and I are quite frugal, but we do spend on things we see the value in. We save, and plan, and then plan and save some more so we can afford things like the Model S (or at least afford part of it and get a loan for the rest). I can't remember the last time we went out for an extravagant dinner or bought a bottle of wine that cost more than $20. Our vacations generally involve a tent, and our weekends are not spent shopping just because.

Like @SCW-Greg we can barely afford this car, and only because we have worked really hard, and saved a lot along the way. Yes, this is an extravagance that is far from the norm for us. Yes, this is a car that is not tenable for most people, but to presume extreme wealth isn't really fair.

I think the extreme wealth angle is exaggerated ... but ... I usually see a car as costing one 10% max of one's living allowance. So if you go with the all decked out model, call it $100k, then for a 5 year note (80%), call it $1,500 a month, or $180,000 annual income? Am I wrong? Plus the downpayment.

I also suspect that a significant number of these are being bought "cash". But what is cash? And with loans as low as 2.5%, it can be cheaper to borrow than to "cash in" a position in a mutual fund portfolio that's making 12 point over the year? And if you using a HELOC, the interest is tax deductible.

Homes are what? 28% allowed for PITI? (Prinicpal, Interest, Taxes and Insurance) ... but two in a house?

So, loaded, I still see this car as viable for a "lucky" 1% still?

 

[ElSupreme]

I think the extreme wealth angle is exaggerated ... but ... I usually see a car as costing one 10% max of one's living allowance. So if you go with the all decked out model, call it $100k, then for a 5 year note (80%), call it $1,500 a month, or $180,000 annual income? Am I wrong? Plus the downpayment.

I also suspect that a significant number of these are being bought "cash". But what is cash? And with loans as low as 2.5%, it can be cheaper to borrow than to "cash in" a position in a mutual fund portfolio that's making 12 point over the year? And if you using a HELOC, the interest is tax deductible.

Homes are what? 28% allowed for PITI? (Prinicpal, Interest, Taxes and Insurance) ... but two in a house?

So, loaded, I still see this car as viable for a "lucky" 1% still?

Except that 1% is (or was a year or two ago) ~$350,000 for a single individual. Or $~550,000 for a household. There is a lot of slop between $180,000 and $550,000. Probably at least 9% would be my guess.

And only 10% of living income is pretty low. Many lower income people spend way more than that. Hell I bet most people earning under $50,000, with a car, have their fuel bill be >10% of their living income.

 

[Jdcleary]

I just say "It's a high end luxury car, but Tesla's planning on making a more affordable version that just about anyone can afford in a few years." I admit that it's far outside my usual car budget but that I believe in and want to support the technology and that this is THE car I've been waiting for for 7 or 8 years and want to support the company that finally built it.

Perfect! Absolutely correct message and I plan to use it.

 

[shady]

I used to get that a lot at Gas stations when my MR2 Spyder was new. I guess I'll not have that problem when my S3 arrives

I think I'll go with " Well, you can go extreme and spend over 100K, or you can do what I did and buy the base model for around 50K and just add the options that are really important."
Obviously, I'll leave out the fact that most of the options were really important to me

 

[Teslawisher]

I'm not a fan of non-answers. Reminds me of politics. While I agree it is rude to ask such a question, if you are going to ask me, I'll tell you. Your perception of my answer is your problem. You have no idea how I live, save, plan, how many scratch-off tickets I've won, inheritances, wife who earns significantly more, second job, etc. etc. etc. And I'll follow up with all the benefits that I see in buying it.

However, if you don't like divulging how much you've paid for whatever reason, I'd say: "It's on the expensive side, I prefer not to say specifically (that's the direct answer to the question). But, let me tell you this..." and then go into the cost of ownership, belief in the company, environment, that you've saved, etc.

Of course, the thread was meant to ask owners (which I, unfortunately am not, yet), so my apologies for posting my 2 cents.

 

[Arnold Panz]

The problem is that currently the car IS a toy for the rich... If you can't afford a top end Audi or BMW you can't afford this car either. We've justified the price tag to ourselves for various performance/political/environmental reasons, but the car is still very expensive and out of the reach of most people.

I am the one person in my family circle who has worked his butt off, got a decent job, and can (barely) afford this car. I'm finding it very awkward now to explain the price tag to friends and family. As much as I justify it, the reality is that none of them could afford it, regardless of how much of a "value" it is, or how good it is for the environment, etc...

Part of the problem is that I didn't think the car would be so stunning in person. (I bought it without ever seeing one). I was thinking it would be more of a "stealth" car, but everyone goes nuts when they see it, drooling over the door handles, etc. I'm not a big fan of all the attention its getting so far.

Dave, I'm very sympathetic to your problem. I have been most surprised by the fact that 70% (or more) of the people who ask about the car have no idea what Tesla is, they just love the way it looks and assume it's a super-high end luxury automobile. I've spent a lot of time in and around Florence (I frequently have work near the CVG airport), and can only imagine how much a Model S sticks out like a (beautiful) sore thumb. In Miami, it's quite common to see luxury and/or unique cars regularly, so people just admire them and move on, but a Maserati, Aston Martin or Bentley (for example) would probably get a lot more attention where you live than they do here.

I like Evan's suggestion of changing the discussion to Gen III and gearing it away from the cost of the S.

 

[raptorweb]

I normally mention that it starts around 50k after tax rebate and that when I paid off my last car I put my normal payment into savings for a future car. That and I always mention I have low overhead that normally redirects the question away from the car price and into exactly what that means. :tongue:

 

[Robert.Boston]

Good point -- the answer has to be tailored to the audience. In talking to my CEO, who drives a Panamera and knows precisely how much I make, an answer like "about the same as a nicely fitted Audi A7" is a good answer (or "less than your Porsche" but that would border on rude....) Random guy on the street? My answer above, "starts at $50k".