Tesla buying money guilt :-(

[RedMod3]

Well, no it wouldn't... because your friend would have a million excuses why his badge was better than your badge, and how 1 second didn't matter anyways until the both of you fell out with each other

We wouldn't fall out; he bought a 358, and it's worth more now than what he paid for it. It's quite scary as a passenger, but a lovely engineered car. We both admire fine cars.

 

[AutomaticMan]

The OP asked for opinions, or did you not read his post?

Sure did but at the end of the day it is his £££ and that is my opinion

Indeed I did ask for opinions and I appreciate the opinions of you both! I wanted to hear the for and against arguments and I have had them both, so thanks again to everyone who contributed to the thread!

I have made my mind up, though, at least 99.99% so it will take one hell of a convincing post at this point to change my mind. That said, I'm happy for this thread to live on and people post their views anyway.

When I asked the question, I had just had a panic that perhaps I was being totally crazy in buying this car, and that literally everyone would reply to say "you're nuts, you can't afford this car." That wasn't what happened though. In reality, some people are more financially cautious than I am, and others are more financially adventurous. I get the impression that I'm somewhere in the middle - I could be more prudent financially, but I also am not totally out of my mind reckless. I'm comfortable with that, and I'm really looking forward to getting my Tesla now! So thanks again everyone for your advice - give me a friendly wave if you see me out and about in my Tesla, but also get me a drink if you see me at the bar please because you know buying my own pint will be a bit of a stretch now...

 

[Paule]

Indeed I did ask for opinions and I appreciate the opinions of you both! I wanted to hear the for and against arguments and I have had them both, so thanks again to everyone who contributed to the thread!

I have made my mind up, though, at least 99.99% so it will take one hell of a convincing post at this point to change my mind. That said, I'm happy for this thread to live on and people post their views anyway.

When I asked the question, I had just had a panic that perhaps I was being totally crazy in buying this car, and that literally everyone would reply to say "you're nuts, you can't afford this car." That wasn't what happened though. In reality, some people are more financially cautious than I am, and others are more financially adventurous. I get the impression that I'm somewhere in the middle - I could be more prudent financially, but I also am not totally out of my mind reckless. I'm comfortable with that, and I'm really looking forward to getting my Tesla now! So thanks again everyone for your advice - give me a friendly wave if you see me out and about in my Tesla, but also get me a drink if you see me at the bar please because you know buying my own pint will be a bit of a stretch now...

You've made the right decision ...I've just got home from a wonderful drive and already planning for somewhere else to go...now get over to the shipping thread and then collection thread...welcome to the world of Tesla

 

[Casss]

Interesting thread.

I landed here (Tesla / TMC) from a very different car ’scene’ just a year ago. I still have mates who are BMW M devotees and some of them are great people and great friends with whom I’ve had driving experiences that I will never, ever forget. (Many trips to wales and Scotland + longer jaunts to France and Germany with a convoy of great people in some very fun cars was hard to beat for me) but with a first child having just arrived, life priorities are different. Looking back, maybe we were a bunch of complete knob heads to everyone else, but no harm no foul.

I can say that by comparison what you’re talking about here both in terms of the car you’re fretting about purchasing, and your financial situation is entirely trivial compared to some of the “purchasing decisions” I’ve seen going on in that scene. Boy have I got some stories that would make those of you who are financially prudent first and foremost crap your briefs.

I’ve done some bad man maths in my time, but actually the last man math purchase I made ended up making me very happy whilst driving it and then also when selling it. The dealership were not happy when I called them back and told them to stuff their trade in value because I’d been offered nearly 8k more (cash purchase) elsewhere. We’re living in very weird times.

I’d like to point out a common mistake I see in peoples man maths on this forum though which might give you some solace too. When comparing the cost of a new tesla against their current ICE vehicle, they’re often failing to account for the fact that their new Tesla is more like a super saloon than their diesel Skoda or whatever it may be. It’s just that they are so economical, it’s tempting and not completely illogical to compare them to an economical, albeit much cheaper (but in every other way, worse) ICE car. You’re better off comparing it against something you don’t own, I.e if you went shopping for a non Tesla that offered the same performance and tech features, you would be looking at spending thousands more. The fact that Teslas often beat the cheaper ICE cars financially with a bit of man maths is nothing short of astounding because you should really be comparing it to owning a Porsche Panamera turbo or something.

I don’t honestly know what compelled me to buy a Tesla in the first place, because my car purchasing tends to be heart first (then ‘how idiotic is this on a scale of 1-11’ and if it’s 10 or under Its all good) it just grabbed me one day. I’m so glad it did because I’m hooked on BEV’s now and as of right now Tesla just make the most sense all things considered. The Tesla has freed up more time and a bit of extra cash (now that I’m not spending 2 days a week at petrol pumps) to get out on my 2 wheeled pedal-powered machine!

 

[AutomaticMan]

Interesting thread.

I landed here (Tesla / TMC) from a very different car ’scene’ just a year ago. I still have mates who are BMW M devotees and some of them are great people and great friends with whom I’ve had driving experiences that I will never, ever forget. (Many trips to wales and Scotland + longer jaunts to France and Germany with a convoy of great people in some very fun cars was hard to beat for me) but with a first child having just arrived, life priorities are different. Looking back, maybe we were a bunch of complete knob heads to everyone else, but no harm no foul.

I can say that by comparison what you’re talking about here both in terms of the car you’re fretting about purchasing, and your financial situation is entirely trivial compared to some of the “purchasing decisions” I’ve seen going on in that scene. Boy have I got some stories that would make those of you who are financially prudent first and foremost crap your briefs.

I’ve done some bad man maths in my time, but actually the last man math purchase I made ended up making me very happy whilst driving it and then also when selling it. The dealership were not happy when I called them back and told them to stuff their trade in value because I’d been offered nearly 8k more (cash purchase) elsewhere. We’re living in very weird times.

I’d like to point out a common mistake I see in peoples man maths on this forum though which might give you some solace too. When comparing the cost of a new tesla against their current ICE vehicle, they’re often failing to account for the fact that their new Tesla is more like a super saloon than their diesel Skoda or whatever it may be. It’s just that they are so economical, it’s tempting and not completely illogical to compare them to an economical, albeit much cheaper (but in every other way, worse) ICE car. You’re better off comparing it against something you don’t own, I.e if you went shopping for a non Tesla that offered the same performance and tech features, you would be looking at spending thousands more. The fact that Teslas often beat the cheaper ICE cars financially with a bit of man maths is nothing short of astounding because you should really be comparing it to owning a Porsche Panamera turbo or something.

I don’t honestly know what compelled me to buy a Tesla in the first place, because my car purchasing tends to be heart first (then ‘how idiotic is this on a scale of 1-11’ and if it’s 10 or under Its all good) it just grabbed me one day. I’m so glad it did because I’m hooked on BEV’s now and as of right now Tesla just make the most sense all things considered. The Tesla has freed up more time and a bit of extra cash (now that I’m not spending 2 days a week at petrol pumps) to get out on my 2 wheeled pedal-powered machine!

Thanks, really good post! I think it is because I'm someone who never would have considered buying something like a BMW M car in the past that it has all been a bit of a hurdle to get past in my head. I see it as being kind of what you describe here... the EV version of the sort of sensible, practical ICE car I would traditionally have bought is something like the VW ID.3 that I've just sold. This is me jumping for the first time in my life into that 'super saloon' category and getting some guilt pangs of "is this too extravagant for an average income person like me?" But thanks to this thread, I feel loads better about that now.

The not having kids factor I've already gone into, but actually the getting out of motorcycling factor is also a big one financially speaking. It isn't just the money I have sitting in my motorcycle that I can get back, but it is also the general costs of motorcycling that build up over time. More frequent servicing/tyre changes, a new set of winter riding gloves here, new visor for the helmet there, etc. etc. Cutting that out of my life I think offsets some of the added cost of buying a more expensive car than I'm accustomed to.

In order to make myself feel even better, I went through my monthly budget last night and trimmed a few unnecessary expenses here and there enough that I can boost my monthly regular investing rate by an extra £100. Assuming I do stick to that, it's another thing I've done to quieten the "a Tesla is too extravagant!" voices in my head

 

[Casss]

Thanks, really good post! I think it is because I'm someone who never would have considered buying something like a BMW M car in the past that it has all been a bit of a hurdle to get past in my head. I see it as being kind of what you describe here... the EV version of the sort of sensible, practical ICE car I would traditionally have bought is something like the VW ID.3 that I've just sold. This is me jumping for the first time in my life into that 'super saloon' category and getting some guilt pangs of "is this too extravagant for an average income person like me?" But thanks to this thread, I feel loads better about that now.

The not having kids factor I've already gone into, but actually the getting out of motorcycling factor is also a big one financially speaking. It isn't just the money I have sitting in my motorcycle that I can get back, but it is also the general costs of motorcycling that build up over time. More frequent servicing/tyre changes, a new set of winter riding gloves here, new visor for the helmet there, etc. etc. Cutting that out of my life I think offsets some of the added cost of buying a more expensive car than I'm accustomed to.

In order to make myself feel even better, I went through my monthly budget last night and trimmed a few unnecessary expenses here and there enough that I can boost my monthly regular investing rate by an extra £100. Assuming I do stick to that, it's another thing I've done to quieten the "a Tesla is too extravagant!" voices in my head

Never hurts to remove expenses that aren’t needed to put towards something better!

In case it helps further - they sold just under 35,000 of them in the U.K. last year so you’re in good company, it’s a popular car for a reason!

 

[Dilly]

Bring on the day of the Tesla model T.
only available in black with a 12v battery and a motor from a hairdryer
0-20mph in several minutes…

 

[Casss]

I’ve heard they don’t get flats either… next gen solid rubber tyres

 

[Beady3647]

I’ve heard they don’t get flats either… next gen solid rubber tyres

Just like my old Dinky toys

 

[Bouba]

Just wondering how many of you out there are buying Teslas on normal incomes and do you feel guilty about it? I keep going back and forth between excitement at getting a Model 3 LR, and guilt/worry about it being a stupid financial decision.

My personal situation is that I'm a higher rate taxpayer, but only just. I am in my late-30s, have no kids (nor want any), am dating but not cohabiting. I don't have any debt except my mortgage, which is about 75% LTV on a 2-bed property in a reasonably priced area (so, not London!). I currently have a VW ID.3 that I just sold for £33k, and a motorbike that is worth between £15-18k that I'm intending to sell this summer as I've fallen out of love with motorcycling a bit. The money I'm getting for the car and bike will essentially pay for the Tesla, and my excuse for getting the Tesla is that it will combine the 'fun vehicle' factor of my motorbike with the day-to-day practical car factor of my ID.3 into one vehicle. I have about £50k in investments in an ISA, £5k emergency cash fund, and I'm saving/investing about 20% of my salary each month. I also pay into my workplace pension.

So part of me thinks, I can afford this. It will make me happy, life is short, why shouldn't I buy it?

But another part of me feels sick at the idea of blowing £50k on a car. I drive around my neighbourhood, which isn't an affluent area, and see very few new cars, let alone new cars as expensive as a Tesla and think, am I mad? I could take the £50k, add it to the £50k I have in investments, and pay off my mortgage in a few years probably. I have to admit, I couldn't sleep last night with all the worry going around my head that I'm being far too extravagant for my means in getting this car. Was wondering how everyone else justifies it? Or maybe you're all like "meh, I earn £200k per year working in the City... £50k is nothing to me", or "it's a company car, I'd never get it as a private buyer"...?

I also know that an obvious partial solution is to get the RWD version instead of the LR. But I'll still feel guilty about buying a £43k car too... Also, the performance of the dual motor forms part of my justification for buying the car (the motorcycle replacement bit), and I'm a real audio snob and missing out on the premium audio system would be something I'd regret every single day.

Most people can’t afford a car (let alone the car they lust after) but a car is such a necessity that they make the necessary sacrifice. For you to be in a position where your only obstacle is your conscience...well..you are fortunate...accept that reality and press the buy button

 

[gangzoom]

but actually the getting out of motorcycling factor is also a big one financially speaking. It isn't just the money I have sitting in my motorcycle that I can get back, but it is also the general costs of motorcycling that build up over time.

I've only ever been out riding as pillion passenger once on a Superbike, and twice hired a mopped on holiday - I loved it but I know how little control I have over speed/risk on a bike, I would love a motorbike but I would end up dead very very quickly. The safety/stability of a metal box with 4 wheels on each end takes some beating, but cars just feel so dead/boring compared to anything with 2 wheels.

If you haven't tried it, pedal bikes offer a pretty decent adrenaline/danger experience at much lower speed/consequence even so hitting the deck simply has so much more consequence than getting wrong on a bike (motor or not).

I finally got around to inspecting the pedal bike after my recent fall on ice, I was wondering how I got away with so little flesh wound it appears I some how lucked it to mean the bike took most of the impact. Not sure how I avoided gashing my thigh/hip, but am glad its the seat leather/foam that got ripped to shreds versus my skin/bone......Will be out on the pedal bike for the commute to work tomorrow, its just simply so much more fun than taking the Tesla.

Costwise there is no comparison my eBike does something like 150 miles per kWh, though chain/brakes needs more regular maintenance than the car.

 

[PITA]

Never hurts to remove expenses that aren’t needed to put towards something better!

Cough, cough, erm... cough.

A Tesla Model 3 is not 'something better' than a motorcycle.

I love my bikes as well... it's just a different experience

 

[Jason71]

Indeed I did ask for opinions and I appreciate the opinions of you both! I wanted to hear the for and against arguments and I have had them both, so thanks again to everyone who contributed to the thread!

I have made my mind up, though, at least 99.99% so it will take one hell of a convincing post at this point to change my mind. That said, I'm happy for this thread to live on and people post their views anyway.

When I asked the question, I had just had a panic that perhaps I was being totally crazy in buying this car, and that literally everyone would reply to say "you're nuts, you can't afford this car." That wasn't what happened though. In reality, some people are more financially cautious than I am, and others are more financially adventurous. I get the impression that I'm somewhere in the middle - I could be more prudent financially, but I also am not totally out of my mind reckless. I'm comfortable with that, and I'm really looking forward to getting my Tesla now! So thanks again everyone for your advice - give me a friendly wave if you see me out and about in my Tesla, but also get me a drink if you see me at the bar please because you know buying my own pint will be a bit of a stretch now...

So in Summary Man posts thread on Tesla Forum asking if he should buy a Tesla.
Tesla forum members say........wait for it.......YES.
I don't disagree with the outcome but I do have to admit we may not be totally unbiased.
Maybe you could get Sue Gray to look into it I hear she is very impartial?

 

[AutomaticMan]

So in Summary Man posts thread on Tesla Forum asking if he should buy a Tesla.
Tesla forum members say........wait for it.......YES.
I don't disagree with the outcome but I do have to admit we may not be totally unbiased.
Maybe you could get Sue Gray to look into it I here she is very impartial?

To be fair I did also realise this myself early on

Though I suppose I have given myself the best chance of getting the answer I really want by asking the question on a Tesla forum... if I x-posted this to a 'bangernomics' forum I may get different views! haha

 

[Bouba]

So in Summary Man posts thread on Tesla Forum asking if he should buy a Tesla.
Tesla forum members say........wait for it.......YES.
I don't disagree with the outcome but I do have to admit we may not be totally unbiased.
Maybe you could get Sue Gray to look into it I hear she is very impartial?

To be honest my interpretation was...Man posts thread on Tesla Forum and gives way too much personal information...

 

[AutomaticMan]

To be honest my interpretation was...Man posts thread on Tesla Forum and gives way too much personal information...

Not sure it really matters as I haven’t posted my name, location, links to any social media, pictures… there isn’t anyone who knows me in real life who knows any of this information about me.

But nice of you to be so concerned.

 

[Tony Hoyle]

I thought it was interesting.. It's very easy on this forum to feel like you're the only person that doesn't have a driveway the size of a small runway, own 3 companies and have a spare M3P for the cat..

 

[Bouba]

Not sure it really matters as I haven’t posted my name, location, links to any social media, pictures… there isn’t anyone who knows me in real life who knows any of this information about me.

But nice of you to be so concerned.

I was a little surprised that’s all...for most here the most personal information they give is the colour of their car’s interior..but no offense meant

 

[AutomaticMan]

I was a little surprised that’s all...for most here the most personal information they give is the colour of their car’s interior..but no offense meant

Not sure how old you are (and no offence meant by this either), but maybe a generational thing? My dad would never talk about money as it wasn’t the done thing. Whereas nowadays people are all over YouTube and Reddit and places talking about their personal worth and investment goals.

That said, I’m traditional enough that I would never talk about how much I earn to anyone in real life. I’m not sure anyone I actually know (other than colleagues who can use their salary as a benchmark to guess mine) has any idea what my salary is, or how much I have in savings.

But I’m a screen name here, rather than a person, so I felt like I may as well post the information that people would need to know in order to answer my question.

 

[RSpanner]

AutomaticMan....Pay off debts first.but I am old school. Worked for me, but I did not get a new car untill I was 40. No mortgage, best feeling in the world. Car later.