Should i buy it?

[sanjuk]

Hello i am mew to the forum. I am in Arizona and currently drive 2015 hyundai genesis 3.8 awd model. It has 90k miles on it. Still making payments. And it is depreciating pretty quick because of miles i put. My commute to work each way is 56 miles work 5 days a week. Spend at least $300/month in gas. Monthly cost of ownership including car payment, gas, insurance, oil change, registration comes out to same cost as getting model 3 standard range plus without any upgrades, home electricity cost to charge, insurance, registration. That is assuming gas price staying same for next 6 years at $2.90 a gallon.
I am considering SR+ over LR because with either car i will need to charge it every night for commute and if i go on a road Tripp’si can take wife’s ICE or add few more stops with SR+ over LR.
Just wanted to get second opinion.

 

[DirtyT3sla]

The mythical pokemon mew?!

I think it would greatly improve the quality of your life, and if you can afford it, that's most important. I currently commute 70 miles per day, but I used to do very similar to you and I was miserable. Commuting in a Tesla with even the standard AP is just so amazing...it'll make you happier, and you don't have to waste time at the gas station. If finances are in order, I say 100% do it.

 

[Mrcarcrazy]

50 miles per day here. I say jump on it as well. But you have to know we’re all biased.

I don’t know your finances, and don’t need to know. This is something you have to be able to justify/afford.

If you haven’t driven one, I suggest trying to get behind the wheel of one. That will likely push you over the edge.

 

[JulienW]

....Just wanted to get second opinion.

....and what options do you expect on a Tesla forum about buying a Tesla?????? Should like you are just looking for reaffirmation.

 

[Hkbruin]

Given the fact your commute is 112+ miles round trip sounds like a no brainer! I commute between 90-167 miles round trip a day during the week, and with my off peak charging I pay around $60-65 to drive 2500 miles a month (this includes the TOU EV plan fee of $15 a month here in SDGE in SoCal).

Depending on your home situation, it sounds like Arizona is rolling out a new TOU EV rate this or next year:

Tucson Electric rolling out new rates for electric-car owners

I think you will get great satisfaction on your commutes with the Model 3 (if you get AP). It makes the ‘commute’ more like a Sunday drive . I charge every night and I think the manner in which I charge up to 80% daily seems to treat the battery the best: I still get 285 miles of charge at 80% even after going over 31k miles in about 13 months.

You’ll need to pay for tire rotation service every 6k or 12k miles depending on driving aggressiveness, but my stock tire tread are not even halfway worn at 31k

Also get ceramic tint (~$300)
And a clear bra for the bumper and call it a day!

 

[sanjuk]

Given the fact your commute is 112+ miles round trip sounds like a no brainer! I commute between 90-167 miles round trip a day during the week, and with my off peak charging I pay around $60-65 to drive 2500 miles a month (this includes the TOU EV plan fee of $15 a month here in SDGE in SoCal).

Depending on your home situation, it sounds like Arizona is rolling out a new TOU EV rate this or next year:

Tucson Electric rolling out new rates for electric-car owners

I think you will get great satisfaction on your commutes with the Model 3 (if you get AP). It makes the ‘commute’ more like a Sunday drive . I charge every night and I think the manner in which I charge up to 80% daily seems to treat the battery the best: I still get 285 miles of charge at 80% even after going over 31k miles in about 13 months.

You’ll need to pay for tire rotation service every 6k or 12k miles depending on driving aggressiveness, but my stock tire tread are not even halfway worn at 31k

Also get ceramic tint (~$300)
And a clear bra for the bumper and call it a day!

If your talking about autopilot. Is it the one that is included with M3 or FSD?

 

[sanjuk]

I forgot to mention. I owe $23k on current vehicle. Trade in value is about $15k due to high miles. If i roll over the difference to tesla loan my ownership cost on model 3 will be same as current expense. That is why i am hesitant to make the decision. If i wait and to pay down my current loan i will be adding more miles and car will depreciate even more

 

[DR.T]

I drive 100 miles a day for 5 days and saving a ton on gas. I had a toyo camery before.

 

[sdrevik]

Here was my calculation method, updated for current:

SR basic = $35K. Add AP = $5K. Wheels, home charger maybe another $2K = $42K plus taxes. Take off tax credit, maybe $40K net cost. Now save yourself about $3K over 7-year life of car in reduced maint (brakes, oil changes). Now it's $37K. Now save another $4K to $5K in gas vs. electricity over 7 year life, assuming 10,000 miles/year. Now that car costs you $32K to $33K.

The question is- can you justify ditching your current car for a new gas-powered car for $33K? If your finances can handle that, then do it. If not, don't.

 

[sanjuk]

I drive 100 miles a day for 5 days and saving a ton on gas. I had a toyo camery before.

Did you get the SR+ if you did no problem with that range? Charge every night?

 

[Burrito]

my previous car was the same, 2016 genesis but rwd and all the packages. you will miss some of the luxury of the genesis. heads up, ventilated seats, quietness and ride quality but i would say the 3 is a better more fun car all around. the finances need to make sense for you but model 3 > g80

 

[sanjuk]

Here was my calculation method, updated for current:

SR basic = $35K. Add AP = $5K. Wheels, home charger maybe another $2K = $42K plus taxes. Take off tax credit, maybe $40K net cost. Now save yourself about $3K over 7-year life of car in reduced maint (brakes, oil changes). Now it's $37K. Now save another $4K to $5K in gas vs. electricity over 7 year life, assuming 10,000 miles/year. Now that car costs you $32K to $33K.

The question is- can you justify ditching your current car for a new gas-powered car for $33K? If your finances can handle that, then do it. If not, don't.

I guess new configuration white is the default color now and autopilot included. So i can get SR+ in white, aero wheels, black partial premium, AP for $39,990 before tax credit. I always get little bit back every year so tax credit does not really apply to me. Charging at home will cost me $100/month plus I got solar at home. I am probably sitting at anywhere between $6k-$8k negative equity on current vehicle which gets 26mpg combined and spend at least $300/month in gas. Taking a loan out on SR+ with negative equity rolled over for 74month plus $2500 down will still be slightly less or same as current expense. At this point i have no problem financially spending $1100+ / month on 1 vehicle expense since My wife’s vehicle is paid off and only 3 years old gets 40mpg and she drives 20miles a day.

 

[sanjuk]

my previous car was the same, 2016 genesis but rwd and all the packages. you will miss some of the luxury of the genesis. heads up, ventilated seats, quietness and ride quality but i would say the 3 is a better more fun car all around. the finances need to make sense for you but model 3 > g80

yea i love the genesis but i fell in love when i test drove the 3 mid range last year. Do you think it has more cargo space and feel more roomy inside specially back seat compare to genesis?

 

[sdrevik]

Haven't seen a Genesis. The trunk in the M3 is very roomy, and I can carry quite a bit, even more if I fold the seats through if I'm carrying something really large. I had all hatchbacks before (VW Sportwagen, Prius), and I'm satisfied with carrying capacity.

 

[jebinc]

Hello i am mew to the forum. I am in Arizona and currently drive 2015 hyundai genesis 3.8 awd model. It has 90k miles on it. Still making payments. And it is depreciating pretty quick because of miles i put. My commute to work each way is 56 miles work 5 days a week. Spend at least $300/month in gas. Monthly cost of ownership including car payment, gas, insurance, oil change, registration comes out to same cost as getting model 3 standard range plus without any upgrades, home electricity cost to charge, insurance, registration. That is assuming gas price staying same for next 6 years at $2.90 a gallon.
I am considering SR+ over LR because with either car i will need to charge it every night for commute and if i go on a road Tripp’si can take wife’s ICE or add few more stops with SR+ over LR.
Just wanted to get second opinion.

Hello and welcome! Just one question - is there a chance your job or job location change such that you would need more range? Another thing to remember is range is reduced when it's cold outside, and the general recommendation in these parts is using 65% of rated range as a guide to determine which model to get, not accounting for cold weather (i.e., don't go below 20% charge... and for day-to-day, charge to 80-90%, and not 100%, etc. That leaves 65% of a given models range to play with.) Another common thought in these parts is to "buy as much range as you can swing..."

 

[davewill]

I guess new configuration white is the default color now and autopilot included. So i can get SR+ in white, aero wheels, black partial premium, AP for $39,990 before tax credit. ...

Actually that would be $38,990 (plus $1200 destination charge) with the recent price reduction. Really, this is about what you want to do and can afford to do. If it was strictly about economics, you would either keep driving the Genesis until it fell apart, or you'd buy yourself a base model Corolla or the like. If test driving the Model 3 put a smile on your face, and driving electric means something to you, then you should go for it.

I will say that you should consider the possible cost of future repairs since you will apparently burn through the factory warranty fairly quickly. Repairs can get a bit costly.

 

[sanjuk]

Hello and welcome! Just one question - is there a chance your job or job location change such that you would need more range? Another thing to remember is range is reduced when it's cold outside, and the general recommendation in these parts is using 65% of rated range as a guide to determine which model to get, not accounting for cold weather (i.e., don't go below 20% charge... and for day-to-day, charge to 80-90%, and not 100%, etc. That leaves 65% of a given models range to play with.) Another common thought in these parts is to "buy as much range as you can swing..."

yea being cold is not a problem here in arizona. And if there is a location change either i move home or work. It will be shorter range than now i can guarantee that.

 

[sanjuk]

Actually that would be $38,990 (plus $1200 destination charge) with the recent price reduction. Really, this is about what you want to do and can afford to do. If it was strictly about economics, you would either keep driving the Genesis until it fell apart, or you'd buy yourself a base model Corolla or the like. If test driving the Model 3 put a smile on your face, and driving electric means something to you, then you should go for it.

I will say that you should consider the possible cost of future repairs since you will apparently burn through the factory warranty fairly quickly. Repairs can get a bit costly.

Right I get that. but how will it be economical to drive current genesis until it falls apart if i am not paying more in monthly ownership cost for model 3?

 

[Burrito]

yea i love the genesis but i fell in love when i test drove the 3 mid range last year. Do you think it has more cargo space and feel more roomy inside specially back seat compare to genesis?

the genesis is bigger in every way, that said i don't feel cramped in the model 3 and do like that the seats fold down. still cant believe it wasnt an option in the genesis

 

[davewill]

Right I get that. but how will it be economical to drive current genesis until it falls apart if i am not paying more in monthly ownership cost for model 3?

Because you would pay it off and presumably keep driving it for many years.