TMC is an independent, primarily volunteer organization that relies on ad revenue to cover its operating costs. Please consider whitelisting TMC on your ad blocker or making a Paypal contribution here: paypal.me/SupportTMC

Reserving Model X Question

Discussion in 'Model X' started by FrankOT564, Jul 16, 2015.

  1. FrankOT564

    FrankOT564 Member

    Joined:
    Nov 4, 2014
    Messages:
    45
    Location:
    North East USA
    Few questions.

    Can I reserve the car as a lease?
    What is the down payment?
    If I change my mind what will happen to the down payment? terms?

    Thanks!
     
  2. pvogel

    pvogel Member

    Joined:
    Jun 23, 2015
    Messages:
    906
    Location:
    Santa Clara, CA
    You reserve the car, how you buy it (lease/cash/etc.) is up to you when your number comes up.

    Reservation payment is $5000 which will apply to the sale/lease costs when your number is up. The lease down payment at the time you actually order and your number is up will depend on the options you configure.

    If you change your mind the $5000 is totally refundable, but no interest on the funds. I've effective loaned Tesla $5000 since November of 2012! But they've more than compensated me in the stock price increase since that time, since at the same time I reserved I bought $10,000 worth of Tesla at $27/share :)

    Peter+
     
  3. FrankOT564

    FrankOT564 Member

    Joined:
    Nov 4, 2014
    Messages:
    45
    Location:
    North East USA
    Interesting I didn't know there were stock options. What happens if Tesla shares go down? Will my returned refund be below 5000?
     
  4. bonnie

    bonnie Oil is for sissies.

    Joined:
    Feb 6, 2011
    Messages:
    14,241
    Location:
    Columbia River Gorge
    Your Model X deposit is paid to Tesla Motors. Any TSLA stock or options are through your broker, completely independent of reserving a Model X.
     
  5. pvogel

    pvogel Member

    Joined:
    Jun 23, 2015
    Messages:
    906
    Location:
    Santa Clara, CA
    The $5000 has nothing to do with stock. It reserves you a car, period. It is refundable at any time prior to you getting the car and applies to the cost of the car.

    My point about stock was that, given that *I* saw something valuable enough to be worth loaning Tesla $5000 for an indefinite period of time, there was something to what Tesla was doing and I should invest, so I chose to put $10K into shares of Tesla which were $27/share at the time. Hence I've been quite content with the fact that Tesla has had $5000 of my money interest free for 3 years!
     
  6. FrankOT564

    FrankOT564 Member

    Joined:
    Nov 4, 2014
    Messages:
    45
    Location:
    North East USA
    It is odd that they would return you the full refund. Whats the point of putting any down then... its meaningless. Just saying as a concept. If it Tesla has it or the bank its still accessible. Like for example my 401K, there is a penalty, shouldn't the down payment be the same?
     
  7. pvogel

    pvogel Member

    Joined:
    Jun 23, 2015
    Messages:
    906
    Location:
    Santa Clara, CA
    It's loaning the company money in exchange for a place in line. Get the money back, lose your place in line.
     
  8. ohmman

    ohmman Maximum Plaid Member

    Joined:
    Feb 13, 2014
    Messages:
    4,793
    Location:
    North Bay, CA
    Your 401k is an investment device, and the penalty is imposed by the federal government for accessing your funds outside of the rules of that device. This has nothing to do with a deposit on a consumer product.
     

Share This Page