[UK] Model S/X LHD Discussion

[Zilla91]

If we're going to go down that route then there's no need to actually own a car since there's public transport, you don't need a nice big house when 4 walls and a roof is all you need and you don't have to buy nice expensive food when the cheap basics will keep you going.

It's a bollocks argument, if you can afford to run a flash new car irrespective of how you finance it then go ahead and do it. And if you do decide to drop a big wad of cash on your flash new car then good for you but don't be a dick about it or lecture others because they might have a better use of that big lump sum.

 

[gangzoom]

It's a bollocks argument, if you can afford to run a flash new car irrespective of how you finance it then go ahead and do it.

Absolutely, how you do it cash, lease, borrowing makes no real difference to the cost, expect for ofcourse leasing = no ownership.

The whole 'buy it appreciating, lease if depreciating' is the best sales pitch for finance products around. Almost as good as 'BP/Shell will simply replace petrol stations with hydrogen fuel stations, job done, forget the whole EV thing'.

 

[Kaz911]

Just an update on availability of used X's in RHD

At the announcement Autotrader listed about 69 used tesla X's for sale in the UK. Today it is down to 40.

Anyone looking for the ONLY 2021 (Feb 21) Tesla X Perf. Lud with "full" autopilot I've seen in the UK - let me know - send me a PM. We will sell ours before end of the year. It is a 6 seater in Black with beige'ish interior. Got all the extra rubber mats installed and sunscreens.

 

[12Pack]

I was curious about my car - MS Raven Performance. Now down to 3 from 12 on Autotrader since the announcement.

I also buy my cars outright. I have never found a positive business case for leasing including the opportunity cost for the capital even with US stock average returns (and associated taxes on dividends and capital gains), mostly because I tend to keep cars longer than 3 years.

 

[WannabeOwner]

I think Getty saw the opportunity cost of investing the money to be much higher than the interest and other expenses in leasing.

My view, is twofold

If I spend the money on the car, and lose the opportunity-cost for that cash, what's my commercial borrowing rate if I then have an opportunity?

Typically I can borrow money cheaper than the cost of finance on a car. (Not when the finance on my Seat Alhambra was 0% ... and I couldn't negotiate any cash discount whatsoever - never figured out how that deal made anyone any money, but I assumed it was a quantitative-easing wheeze, at that time)

I only need to get caught out by the small print on the Car Finance once before whatever swings+roundabouts better-off I might have been flies out the window ...

One example - we had an employee with a smart company car (professional qualification, young person, to keep them remuneration needed to be commensurate).

They left anyway Doh! ... lumbered with the car[finance], we gave it to another employee and upset everyone else in the company top-to-bottom!

My boss drives a 6 year old 1.0 Polo

If he is THE boss he might be better off in something prestigious (depends on the type of business, and if Boss is ever on client site).

Many years ago my partner and I (coincidentally) bought high end 2 seater sports cars. Once we realised we'd both done the same! we agonised over how that would be perceived by clients. On one occasion we had to both drive to airport to pick up 2 people, from a prospect, because we didn't have a 4 seater car!

We did more business in those years than ever before and then decided that, for some/most? clients, reassuringly expensive applies ...

 

[12Pack]

Used to enjoy these videos. Oh and note the braking results that we had been discussing with the naysayers before the “announcement“.

 

[gangzoom]

If he is THE boss he might be better off in something prestigious (depends on the type of business, and if Boss is ever on client site).

If only it was that easy to get resources out of NHS England.

I saw another very senor colleague with some very prominent national roles in a 20 year bog standard 5 door Ford Fiesta towing a rather dater looking trailer full of stuff for the tip the other day.

Clearly I need to follow by example, running our X into the ground is as close as I think I can get to emulating their leadership example .

 

[FastLaneJB]

If only it was that easy to get resources out of NHS England.

I saw another very senor colleague with some very prominent national roles in a 20 year bog standard 5 door Ford Fiesta towing a rather dater looking trailer full of stuff for the tip the other day.

Clearly I need to follow by example, running our X into the ground is as close as I think I can get to emulating their leadership example .

It was easy, you just needed to be selling PPE

 

[Leytonstone]

Tesla customers cancel orders after RHD Model S, Model X sales stop | Autocar

Buyers frustrated after right-hand drive Model S and X cancelled; experts predict few LHD cars will be sold

www.autocar.co.uk

"experts caution few LHD cars will be sold" lol

 

[FastLaneJB]

Still disappointed with this. Been looking around but just nothing takes my fancy like this car did.

Just have to sit it out for a bit and see what there is in a few years time I guess.

 

[yessuz]

I remember buying the first iMac when Apple has just bought back Steve Jobs…….Apple share at the time were pennies I seem to remember!

Buy, lease, PCP you CANNOT escape depreciation. The most SENSIBLE thing to do when it comes to money and cars is to buy the cheapest car that will get you from A to B and do what ever you want with the rest of the money.

My boss drives a 6 year old 1.0 Polo, his face was one of pain when I told how much Teslas cost, he earns substantially more than me. One of the reason his the big boss is because his sensible when it comes to finances, and doesn’t waste it on stupid things like cars .

well I had one boos who used to drive 1 hour to office and back on a motorway in a smart... and in order to get a bit better noise insulation, used to wear motorcycle helmet.

I mean you can be reasonable some times, but sometimes it just crosses the line into being ridiculous

 

[Adopado]

well I had one boos who used to drive 1 hour to office and back on a motorway in a smart... and in order to get a bit better noise insulation, used to wear motorcycle helmet.

I mean you can be reasonable some times, but sometimes it just crosses the line into being ridiculous

That's weird! Most motorcyclists use ear plugs if travelling any distance ... because the helmet itself doesn't cut the sound enough ... so you would think he would have just used the ear plugs in the car

 

[yessuz]

That's weird! Most motorcyclists use ear plugs if travelling any distance ... because the helmet itself doesn't cut the sound enough ... so you would think he would have just used the ear plugs in the car

do not ask me - he's weird guy.. .

 

[FastLaneJB]

well I had one boos who used to drive 1 hour to office and back on a motorway in a smart... and in order to get a bit better noise insulation, used to wear motorcycle helmet.

I mean you can be reasonable some times, but sometimes it just crosses the line into being ridiculous

Also seen this but you cannot take your pots of gold with you when your gone. So obviously need to plan for the future but also need to live a little. Some people just don’t care about cars though, they spend their money on other items.

I remember one company Director commenting that he was paying too much for me for my nice car in their car park. I think I said something like “Well at least you know what I’m spending my money on. Just consider the ones that turn up in a cheap car but you are paying the same could be spending it on drugs and hookers”.

 

[WannabeOwner]

Some people just don’t care about cars though, they spend their money on other items.

And some on both ...

I remember one company Director commenting that he was paying too much for me for my nice car in their car park.

Recently employed a programmer. I checked the car park CCTV after interview and he had turned up in an (admittedly knackered) Alfa Romeo ... he got extra points for "something a bit different". I did make sure that he intended to work from home though

Ah ... the Alfasud, how I hankered after owning one in my youth ...

 

[Js1977]

And some on both ...



Recently employed a programmer. I checked the car park CCTV after interview and he had turned up in an (admittedly knackered) Alfa Romeo ... he got extra points for "something a bit different". I did make sure that he intended to work from home though

Ah ... the Alfasud, how I hankered after owning one in my youth ...

If you ever interview for a storesman and you look on your cctv and be shocked.. that will probably be me.. never er judge the book by its cover

 

[Durzel]

I remember buying the first iMac when Apple has just bought back Steve Jobs…….Apple share at the time were pennies I seem to remember!

Buy, lease, PCP you CANNOT escape depreciation. The most SENSIBLE thing to do when it comes to money and cars is to buy the cheapest car that will get you from A to B and do what ever you want with the rest of the money.

My boss drives a 6 year old 1.0 Polo, his face was one of pain when I told how much Teslas cost, he earns substantially more than me. One of the reason his the big boss is because his sensible when it comes to finances, and doesn’t waste it on stupid things like cars .

Counterpoint:

I bought my M3P outright, for circa £61k back in 2020. I crunched the numbers and figured it would be the cheapest option. Had I sold the car last year in the peak of the price craziness it would actually have worked out quite nicely - and having bought outright I wasn't tied to any kind of contract so couldn't be prevented from selling early or penalised for doing so.

Now, though, with Tesla's price craziness and things having settled down, I think it's worked out as costing ~£690 a month in depreciation. I don't think the lease quotes I got were massively off that, excluding the deposit.

Under the normal run of things buying outright ought to be the "cheapest" way of getting a car, but with Teslas all bets are off I think. They have so much margin across the cars and they have shown they are prepared to drop prices on a whim and shaft owners to chase volume. This has a percussive effect across the whole market - buyers, private and trade alike, get skittish about future values, etc.

I would also agree with the above that the "leasing = bad" argument assumes that you do nothing with the capital that you would have otherwise spent. if I'd invested my £61k into Tesla shares back in March 2020 and sold at the top I'd have made a LOT from it.

 

[WannabeOwner]

I think it's worked out as costing ~£690 a month in depreciation

compared to original new price, or compared to replacement-at-current price?

the "leasing = bad" argument assumes that you do nothing with the capital that you would have otherwise spent

But that's a "could have" Also possible that, having taken out the lease, that no suitable investment opportunity comes up ... and/or money is on deposit at derisory rates.

My view is:

Pay cash for the car. If a worthwhile investment opportunity comes up I can borrow money for that (and quite possibly cheaper than a car loan)

 

[Durzel]

compared to original new price, or compared to replacement-at-current price?

Compared to the original new price, basically the price I paid minus the price I'm being offered for it by WBAC etc divided by the number of months owned.

 

[WannabeOwner]

Compared to the original new price

So that is indeed the depreciation but a viewpoint would be that the depreciation is high because the new price has fallen - and that has driven down the 2nd hand price; and the price of a new replacement is down too.

So another way to calculate the monthly cost would be (current new price - WBAC sale price) / number of months.

Maybe that's the difference between a forced-sale and a willing-buyer ...