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Some people won't care at all, some people will be pissed but will proceed because it's still within their means, some people will opt to not proceed at the current price/rate. The aggregate impact will be a reduction in demand.While I was pissed that my rate went from 2.49 to 4.49, it did not stop me from buying the car.
Good points. This may also lead to decreased used values for the X and other Tesla models. People are already seeing and discussing this in other threads.Some people won't care at all, some people will be pissed but will proceed because it's still within their means, some people will opt to not proceed at the current price/rate. The aggregate impact will be a reduction in demand.
Granted the X is an expensive vehicle already and its niche of customers are likely not as impacted by interest rates, but you can combine the rate hikes with wealth destruction happening across equities, crypto, home values, and other assets as part of the quantitative tightening
Prices really need to disinflate after all the inflatingGood points. This may also lead to decreased used values for the X and other Tesla models. People are already seeing and discussing this in other threads.
Someone missed econ101 I seeNo correlation
So you think people that can afford to purchase an X are going to worry about interest rates? I stand by my statement that there is no correlation. If rates were to get crazy (10%+) then maybe demand would slow. I think Chairman Powell missed econ101!Someone missed econ101 I see
Yes. When both price and interest rates go up, people will slow purchases.So you think people that can afford to purchase an X are going to worry about interest rates? I stand by my statement that there is no correlation. If rates were to get crazy (10%+) then maybe demand would slow. I think Chairman Powell missed econ101!
What I said was a factual statement based on fundamental economic principles.We'll agree to disagree, all good. I am loving my X (even at the 4.49% rate). That said, not a fan of the yoke. IMO, a solution looking for a problem.
Stating economic principles is not trolling.Whatever. Fact, Tesla has zero problems selling cars and has complete control of their pricing. People that can afford a Tesla really don’t seem to care. Enjoy the car, relax and stop the trolling. The entire board is full of opinions. My mistake was I should have said in my opinion and observations made, there has been little to no correlation.
I am retired, unemployed by choice, with no earned income. Why would I care? I paid cash.I'm not sure why any of this would affect your enjoyment of the vehicle
But there's an obvious correlation here, interest rates are way up and wait times are way down. Establishing causation is a different story with all the factors in play, but I don't know how you can deny a correlation when it's evidenced in the delivery threads on this same forum and inventory builds on the Tesla website.
He wasn’t quoting you.I am retired, unemployed by choice, with no earned income. Why would I care? I paid cash.
You are all over the place with this comment.Higher interest rates are more likely to affect the used car market rather than new. The main goal of an automaker is to sell new cars. By lowering the advertised interest rate, it brings more people into the showroom/website. Similarly the primary drivers of revenue for car dealers (franchises) is used cars and service. Dealers negotiate with banks to reduce the interest rate in exchange for fee. That’s why you see 1.99% interest deals on used cars in July 4th. And this is where most of the “bank fees” go to.