Tesla Noob -- What to consider before ordering a Model Y?

[Midpack]

Thanks everyone for the additional info.

Sounds like the LR is definitely the way to go.

And good to know about the referral bonus. I'm guessing my friend with a Tesla will refer me but if not, I'll reach out.

My only final concern is reading about bad experiences, but realize problems can happen with any car.

You probably have the basics covered, but just to be sure. If you like the car, there's not much downside if:

• you can charge at home (240V preferably), and
• you don't go on long trips often (and if you're a 2 car family with an ICE/HEV, this issue is moot). At least charging enroute is far superior with the Tesla supercharger system than any other automaker - that's why they are all signing up for the NACS standard, they can't compete.
  
  
• I am not going to get PPF because it's just a car in the end. But its well known Tesla paint quality, while improved, is not at the same standard as legacy automakers. If scratches and pits really bother you, a Tesla may drive you nuts without PPF $$$$.
• Teslas have improved over the past 3-5 years, but build quality is still not equal to most legacy automakers.
• OTOH the efficiency, charge network, and thermal management system is genius. So is the software, in car UI and Tesla app.
• Though you probably won't have serious issues with your Tesla, they are growing so fast service centers are always backlogged and parts are not as easy to get as legacy auto. That said, most owners have relatively maintenance free experiences.

I was also sold with one test drive. I am planning to buy a MYLR as soon as I am sure it will come with HW4, which it appears will come before Juniper.

 

[Sizzlr]

I'm gonna have to say think twice about the PPF unless it just on the flared rear fenders. That's cost effective. Anything else is expensive, $2500 for the front, 4 to 5 grand for the entire car. As far as panel gaps and paint issues, the 2023 deliveries have been remarkably good.

Here's a look at my March delivered MYP...
Flawless

 

[everydaychris]

1. All Weather mats. The carpet is black and attracts and shows lint, dirt, and debris. Even the strongest vacuums have trouble making it look clean.
2. The center console storage is cavernous. Get organizing trays to optimize utility.
3. Tesla specific phone holder. The vents are unique and do not allow for standard clips. You can opt for either one that connects to the back of the display or the Model Y specific vent clips.
4. Mudflaps (No drill installation type) They will protect you from stone chips the tires have a tendency to kick up along the lower door panels and rear quarter panel.
5. Drying towel. (The finish on the Model Y is so good, you can get away with just hosing it down and drying it.)
6. If you have opted for Uberturbines or , get some rim protection. Curb rash looks horrible on these satin black rims and it is quite easy to do.
7. A tire inflator and some sealant like Fix a Flat or Slime. The car doesn't come with a spare. If you get a flat, just contact Service via the Tesla App or Road Side Service from the car itself. They come out to you. But if you have to move from the side of the road or in a sketchy area, these items will come in handy.
8. Trunk liners. There is a huge storage space under the cargo floor that is lined with the flocked material you find in the door pockets. Liners provide leak proof protection for this area.

External Accessories including the rim protectors, mudflaps, and all weather mats.

bruh have you checked out magbak's rim guards? I hate saying it but its in my most recent accessories video. It makes the wheels look amazing and protects it without that red rim guard haha

 

[Bookman]

I've never been in a Tesla until today when I test drove an MY and completely loved it. I'm planning to get the standard range model (I thought about the MYP but want a softer ride and concerned about eating through the more expensive tires).

Timing is tough because I'll be out of town the month of August and the sales person said you only have 3 days to pick up the Tesla when it gets to the dealership. So I guess I'll need to wait about a month to place the order? Hopefully prices don't go up then.

My electric company gives me a $1,100 rebate on a home charger and install so I'll plan to set that up through them. I'm wondering if the mobile charger would be worthwhile as well, but think I'll just hit up super charge stations for trips - I take a few trips 160+ miles away every year.

For accessories, I plan to get different wheel cap covers -- not sure where I'll get them yet. Any other accessories I should consider?

I've done a lot of research on the pros and cons of owning a Tesla and assuming I don't have any big problems think the pros will be well worth it for my family and me.

Any other recommendations?

If you get wheel covers, make sure they cover the entire rim. That’s the problem with the ones that come with the car, they are about 1/4” short of the rim edge and you will get curb rash. I bought Rimetrix. They’re not cheap, but work great. Curb rash is on the cover rather than the rim.

 

[poundsand]

For accessories, I'd say chill out and see. I had plans for getting this and that, getting ppf or vin, etc, etc.

But a couple weeks in? the only must haves are the console bins. ha. Those stupid cavernous holes become a whole lot more useful with the bins.

That said, whatever accessories you decide to get, check aliexpress first, and be prepared to be amazed at the delta price, and the fact that it appears 90% of what Tesla accessory companies sell seem to 100% come directly from AliExpress/Alibaba, with a 300-500% markup from ali retail prices, so if you can wait 2-3 weeks, a whole lot of savings to be had there. Not copies, but exact same freaking things. (I got wheel covers from AliExpress. and trunk mat. and have window and roof shades coming. Got console bins from amazon). As for oof or vinyl, the wife is having second thoughts on changing color, so we'll see. If you've never had ppf applied and are looking into it, be prepared to be shocked by the cost.

 

[pipestem]

I’m not reading the whole thread but tire patch kit and air pump.

Otherwise you will figure it out. It’s a car. It plugs into an electric socket. You already have experience with both. Have fun.

 

[spokey]

I’m not reading the whole thread but tire patch kit and air pump.

Otherwise you will figure it out. It’s a car. It plugs into an electric socket. You already have experience with both. Have fun.

I wouldn't even include that.

I'd say

1. Can you afford it? They aren't cheap and is it worth your dollars?
2. When are you going to to day to day charging if you don't have a home/garage.
3. Similar to 2 on charging do you daily travel more than say 230 miles a day ? How will you plan to charge during the day? Work?

But I agree everything else will work itself out as it is a car. But it is a bit pricey and lots of folks don't have ready / easy access to juice.

 

[alexgr]

But it is a bit pricey and lots of folks don't have ready / easy access to juice.

Tesla needs to start a bank. Ford and GM get a lot, and sometimes most, of income from financial operations giving people easy access to financing.

 

[spokey]

Tesla needs to start a bank. Ford and GM get a lot, and sometimes most, of income from financial operations giving people easy access to financing.

I don't recommend loans. Just can't stand the thought of that interest going to someone else.

If I couldn't afford a tesla I'd more likely buy a cheap toyota. I did take out a loan once. But that was from my future wife for a used motorcycle (couldn't afford a car) and you can be damn sure I paid it back before the wedding.

 

[alexgr]

I don't recommend loans. Just can't stand the thought of that interest going to someone else.

If I couldn't afford a tesla I'd more likely buy a cheap toyota. I did take out a loan once. But that was from my future wife for a used motorcycle (couldn't afford a car) and you can be damn sure I paid it back before the wedding.

A lot of good loans are lower than inflation, and so it makes more sense to take a loan than to pay cash.

 

[spokey]

A lot of good loans are lower than inflation, and so it makes more sense to take a loan than to pay cash.

no. it makes sense if the rate is lower than what you can get from your savings, a cd, etc. inflation is irrelevant.

 

[alexgr]

no. it makes sense if the rate is lower than what you can get from your savings, a cd, etc. inflation is irrelevant.

Okay, what is your advice?

 

[spokey]

if your savings rate is higher, pay cash. If it is lower than the loan rate take the loan. I've never run in to that so I've always paid cash.

Don't be fooled by rebates etc. Often lower interest replaces rebates. If you have to choose, take the rebate and pay cash.

 

[pipestem]

Its not quite that simple. Look at your own whole portfolio, your timelines and decide what’s right for you. Don’t take specific financial advise from message boards.

 

[alexgr]

The savings rate should always [almost] be higher than the interest rate or inflation. Otherwise savings investment makes little sense. I just fail to see how savings are related to car loans. Paying cash for a car when the loan rates are low (which are often lower than the federal funds rate) is just burning cash. Also, most (MOST) people never have cash to buy a car and it is fine; it is more important to have a raining day cash reserve than a car paid in cash. I bet Elon Musk at times may have no cash on hand to buy a Tesla.

 

[spokey]

Its not quite that simple. Look at your own whole portfolio, your timelines and decide what’s right for you. Don’t take specific financial advise from message boards.

probably true but given the question of what I would do was asked, opinion was given.

 

[spokey]

The savings rate should always [almost] be higher than the interest rate or inflation. Otherwise savings investment makes little sense. I just fail to see how savings are related to car loans. Paying cash for a car when the loan rates are low (which are often lower than the federal funds rate) is just burning cash. Also, most (MOST) people never have cash to buy a car and it is fine; it is more important to have a raining day cash reserve than a car paid in cash. I bet Elon Musk at times may have no cash on hand to buy a Tesla.

unless you are getting the fed rate, irrelevant. Agree that emergency cash funds should not be used.

Savings (i.e. paying cash ) is related because which way you choose will have you end up with more or less net worth.

Also, most (MOST) people never have cash to buy a car and it is fine

Sure they can have it. A matter of delayed gratification. You want to pay the price for instant gratification go ahead. Your prerogative. But it seems pretty obvious while perhaps you're right that most never have cash but they could. Keep your current car for the length of time you'd have that new car loan and save that money. Of course not quite that simple as the existing car has some maintenance but you get the idea. Ask around. You'll be surprised how many people don't take loans.

 

[alexgr]

Sure they can have it. A matter of delayed gratification. You want to pay the price for instant gratification go ahead. Your prerogative. But it seems pretty obvious while perhaps you're right that most never have cash but they could. Keep your current car for the length of time you'd have that new car loan and save that money. Of course not quite that simple as the existing car has some maintenance but you get the idea. Ask around. You'll be surprised how many people don't take loans.

This.
I don't know the circle of your communication, but please understand that the majority of the US population not only have no way to save for a new car but also have no access to credit instruments such as loans. I live in the area with schools with over 60% of students on reduced or free lunch. This is the reality, this is our country.

So, when I simply state the fact that most people can't have cash to get a new car, your answer that "sure they can have it" is ignorant at best.

 

[spokey]

This.
I don't know the circle of your communication, but please understand that the majority of the US population not only have no way to save for a new car but also have no access to credit instruments such as loans. I live in the area with schools with over 60% of students on reduced or free lunch. This is the reality, this is our country.

So, when I simply state the fact that most people can't have cash to get a new car, your answer that "sure they can have it" is ignorant at best.

I still say you are incorrect (I won't abuse you with ignorant at best).

It is straight forward math. You can pay (making up the numbers here) $35,000 for a $30,000 car by taking a 5 year loan by paying $7,000 a year to the lender or you can save that $7,000 / year and buy it in 5 years while pocketing that $5,000. Of course it is more complicated because of inflation, interest on savings, etc. And if something like Tesla dropping the price by $7500 for a short time occurs, the situation changes. But I would urge you to reconsider that a person can pay a loan but can't save a smaller amount to pay cash. Yeah you might drive a beater for those 5 years, but at the end you have your dream car and you also have $5,000 in the bank for its replacement.

As near as I can tell most students are on reduced or free lunches. Here in NJ they are talking about making that 100% regardless of income. Good idea or bad idea I don't think that relates to auto affordability.

Bottom line, of course my opinion, if you can't afford something don't buy it. If you can afford it, taking a loan is a bad financial decision. Maybe a good emotional decision but you need to recognize you're paying a price for the instant gratification.

But it sounds like neither of us will move the other person so we shouldn't waste any more precious electrons on this now significant thread drift.

 

[alexgr]

It is straight forward math. You can pay (making up the numbers here) $35,000 for a $30,000 car by taking a 5 year loan by paying $7,000 a year to the lender or you can save that $7,000 / year and buy it in 5 years while pocketing that $5,000. Of course it is more complicated because of inflation, interest on savings, etc. And if something like Tesla dropping the price by $7500 for a short time occurs, the situation changes. But I would urge you to reconsider that a person can pay a loan but can't save a smaller amount to pay cash. Yeah you might drive a beater for those 5 years, but at the end you have your dream car and you also have $5,000 in the bank for its replacement.

Your example implies some 6.2% rate which is really high at these days. I agree, it would be unwise to take a loan unless you find a much lower rate or the rates go down with time. This is why I suggested Tesla should have its own financing. If you drive an older car for 5 years instead of taking a loan for a new car then:
1) you are likely to spend from hundreds to thousands on repairs and maintenance of an old car that is out of warranty.
2) if your old car is not electric and you plan to get an EV, then you miss about $5000 or more in gas savings over 5 years. For example, if you replaced a 18mpg SUV with a Model Y then some 3k in interest over 5 years will be recovered by the gas savings, and then the savings can actually leave you with 3k extra.
3) potentially, you are looking at a higher car price after 5 years. Remember, Tesla had 35k Model 3 4 years ago, it is 40k now. And MYLR was originally under 50k, even now it is over 50k.

If longer terms financials is your priority in life, then it makes no sense to spend $30-40-60k on a new car as you really want to invest these funds for a long term. And I know people who drive their old cars until they die and then buy another very old car while having income approaching 1M and living in an old rather inexpensive house. But they spend tens of thousands each year going on vacations. It's all about priorities.

Also, instant gratification can be a positive thing. If the moment of paying for car in cash provides this instant gratification for you then I think it is a great thing.