Congratulations!
Used, non-FSD Teslas from a third party aren't outrageous compared to buying a brand new one. Teslas website used inventory is all marked up (A) because its Tesla and (B) They enable FSD on all of them.
I'm in San Luis Obispo. Will Tesla give me any love with a 6/12 OD? We will see.
Buying a 50k car without even the ability to put 10% down…just sayin
I'm with you, there are different schools out there. Some please think that is better 0 down cause you can move your money around and make more money (stock, real estate...etc) in that way you avoid putting your own money at risk (totaling a brand new car after putting a down payment). - two of my closest friends with Teslas...one put 0 down (MYP 2022) payments are near 1k, another one put $8k for a 2022 (M3LR) payment is about $700 and change. My thought has always been to calculate my down on how much I want my monthly payment to be after getting the out of the door price.
I'm putting 50% down for this reason. My other 50% will make me more than the interest I will pay for the life of my loan.
You’re right. I’ve bit off more than I can chew. I really, really want a Tesla but I’m just not in a position to do it. Part of my own ‘master plan‘ was to 2.5x my savings with $TSLA shares like I did before the split in 2020 - that didn’t pan out this time unfortunately; made enough for a nice dinner maybe haha. I do think I made the right decision to use the money I had to pay off high-interest credit card debt.
Thanks for this info! And sorry that it didn’t work out for you this time. You’ll get your car when the time is right. Mind if I ask what the finance application asks? Is it just income? Or is it asking for things like monthly expenses too?
Tesla Finance application is very short, just a few questions; only asks gross salary, job title, employer, rent or own or live with family, rent amt, how long at residence, how long at job
Thanks so much for the detailed info. That’s exactly what I needed! I’m concerned about the finance application too. I have great credit but I just bought a house with my partner 2 months ago and that large mortgage just hit my credit report. I think technically I am supposed to put in the full monthly mortgage amount showing on my credit report which hits my Debt to Income ratio badly, but in reality, the mortgage is split with my partner so it’s no where near as bad as it looks. In two minds on what to put on that one! Downpayment is no issue thankfully. Hoping to finance about $45,000 of the $53,000. May even get that down to $42,000 if my current car holds its equity well.Tesla Finance application is very short, just a few questions; only asks gross salary, job title, employer, rent or own or live with family, rent amt, how long at residence, how long at job
For me, in Illinois, it defaulted to $4500 down but that is not on the vehicle price - my taxes and registration (plus optional ERT fee, whatever that is) totaled $3651.80 and that was the minimum that I could put in the down payment box even though it wasn’t technically a down payment. If I typed “0” in the down payment box then it automatically put $3651.80 in that field. That would have been due at signing; not right away. I think….I didn’t “confirm” the offer. It clearly states “due at signing” though.
Oh, and to add insult to injury, my mobile connector finally shipped this morning
Got the car yesterday! The whole signing process took maybe 2 minutes, and I was on my way in about 10-15 minutes, including my inspection of it. Easiest car I’ve ever bought! And the car is really awesome. Love it.
You're very trusting of Tesla's QC. I anticipate inspecting the car for a minimum of 20 minutes before doing or signing anything else.Got the car yesterday! The whole signing process took maybe 2 minutes, and I was on my way in about 10-15 minutes, including my inspection of it. Easiest car I’ve ever bought! And the car is really awesome. Love it.
