The savings from daily driving a Cheapo car vs new Model 3 devaluation

[.Slug]

Oh, ...I'm sorry, the purpose of your comment is completely irrelevant to me.
I don't have car payments, I bought the car cash. And I'm retired, and pretty wealthy, so I definitely don't need financial advice.

The whole point of this post is to determine whether it's worth "saving your miles" on your New Tesla, in order to save depreciation on it. Putting 5000 miles into an old cheapo car doesn't really decrease its value. But putting 5000 miles into a brand new Tesla could be difference between selling it at 50,000 or 45,000.
Sure, overall it doesn't apply to me IF I'm not planning on selling. But if I were, or if anyone here might be, they might benefit from the information of how this conundrum weighs out the decision.

You're the one soliciting input. This whole post is really odd and contridictory. Its entirely a financial topic because you're weighing pros/cons of depreciation and placing the money elsewhere. You're honestly just taking the topic in circles. Based on the logic for the thread for "anyone," it doesn't matter if my reply is irrelevant to you, anyone else might find it useful. This is by your own logic btw.

It helps to know that you bought your car cash. This really makes it a no brainer. Drive a single car. It makes no financial sense to purchase a car out of warranty for the sake of attempting to avoid depreciation on a paid for vehicle in warranty. This goes for anyone, not just you. Forget about the depreciation, it honestly doesn't even matter for the given scenario(s) lol. ESPECIALLY if someone is wealthy already. They'd be over thinking it. Making a problem where there isn't one.

The Tesla isn't a collectors item. It shouldn't be treated like one. But that's just my own opininion in a sea of opinions.

 

[brkaus]

Do whatever you like. Your money.

 

[ThomasD]

If my Daughter was to complain about what kind of vehicle I was dropping her off at School with she would be walking or taking the Bus

 

[parrainx]

Problem #1 Depreciation is not at $1/mile. If that was the case then Teslas would be worthless after 55k miles, which is far from the facts. Model 3 can’t be had for anything less than mid $40k and some with mileage beyond that.

7k miles is year as few people have stated is below average. I got a brand new M3 LR due to it being slightly more expensive than buying used. It is my daily driver. Taking my kids to school/daycare then work. I will put at least 20k miles on it a year. Have 7k on it now and I had it for 3 months.

It‘s fun AF to drive, so why would I deprive myself of driving it? Why buy it in the first place then?

I commuted in a Prius C for 7 years. I had fun weekend cars throughout, but wanted something that I can enjoy everyday and it be economical. Obviously breakeven point is far far away, so in reality you’re not saving anything.

You said you’re retired, wealthy, and this is a long term potentially “forever car, your words. So why is the depreciation even a thing In your case?

Getting trade in value from Tesla is dumb because they quote you $15k less than any of these other companies like Carvana. Vroom. Carmax. Whatever.

So drive the car you want to drive and enjoy rest of your life. You worked hard to put yourself in a situation where you can afford nice things. You can’t take your money with you when you dead.

This is coming from the guy that’s in Dave Ramsey camp and savings and financial well being takes precedent over impulse buys and wasteful spending, but I do these things to be able to treat myself once in a while and pay cash for things that truly improve my life and happiness.