Thinking of purchasing my first Tesla

[foxwiz5262]

In January I purchased a 2023 Acura RDX new and it was $53k. Car has 5,300 miles on it. Since I lived in Colorado and gas was relativity reasonable, I decided to purchase. The gas mileage around town is 15-18 mpg and on the freeway I can get between 24-27. Not bad, but not great.

A couple of months ago, I moved to California and the house we purchased has solar so electricity is free. I was talking to a neighbor the other day and he has a Tesla Model 3 and just loves it. Said he can charge his vehicle and he generates more electricity than would be used by normal usage and charging.

Got me thinking. I ran some numbers and realized that since I drive around 15,000 miles a year and gas costs about $5 or so, I pay about $3200 to $3500 in gas depending on my driving habits.

Went to Tesla and they wanted to give me $41k for the Acura and then told me to go to CarMax or Carvana to see what they would give. I am guessing maybe around $45k. If you were in my situation, would you sell your car and take a big hit for future savings down the road? It could take me 5 years to break even.

 

[smogne41]

Putting aside potential cost savings, which car do you actually like better? Have you driven the Y yet? Does the Y have all the features that you have with the RDX (at least the ones you care about)? How about driving dynamics between the two? You spend a decent amount of time in the car, how do the seats compare for your specific body? Are you a heavy cruise control user? Are you aware that some people (and in some areas/conditions) have very serious issues with Tesla Autopilot/TACC (phantom breaking) that means they essentially can't use cruise control at all? (Does not happen to all/most, but absolutely happens to a significant percentage of owners, and there is no 'dumb' cruise option). Are you okay with the far more limited selection of physical controls in the Tesla? The Tesla has a lot to offer, but it is important to recognize they are absolutely not for everybody. Good luck!

 

[Tiger]

If you have Test driven the Tesla and you like it, then you should include that into the calculation of how much money you are saving during those 5 years.

Some things are better than money, assuming you are not compromising something else in life to get it.

You could also put it the other way, how much money you have already wasted purchasing a non electric car in the first place, while they have been in the market.

 

[jjrandorin]

A couple of months ago, I moved to California and the house we purchased has solar so electricity is free

I actually live in the city you state under your name (Temecula). I would caution you that, if you just moved here (less than a year), you really need to consider this statement. Whether you have enough solar to generate electricity for your home and also 15k of miles depends wholly on the size of your PV installation, home, and electrical usage.

Sometimes people see solar on a roof and just think "electricity is free", and dont really account for how much they use, and then get shocked. Some homes out here have really small (for the area anyway) solar installs because solar was mandated on new homes, but its like 6 panels.

Before you start doing math on how much you would save, you need to ensure you actually have enough solar to absorb that amount of increased electrical use, or ensure that you are making the decision because you dont mind taking longer to break even on the trade in of the car.

I have a model 3, Y solar and Powerwalls, and have lived in this area for more than 10 years, so am pretty familar with the weather, and how solar works out here. AC is going to really drive electrical usage out here between June and about October.

 

[Mike728]

First, how did you get Tesla to give you a solid offer on your RDX upfront? I've never heard of them doing that. Once I ordered my MYLR, I was given a value range for my trade. Once my VIN was known, I was then given an actual value, which was thousands lower than Tesla's low estimate. You can check values online using dealers like Carvana, KBB, Vroom, Driveway, etc... It just takes a couple minutes to get an offer, which can vary greatly between them. I went with a KBB Instant Cash offer, because it was the highest. I just needed to drive to a local participating dealer and have it verified and then was given a check. I've used Carvana in the past and it went smoothly as well.

The rest of your decision making is clearly unique to you. Asking this question on a Tesla forum will get you different answers than asking on an Acura forum. We are all here because it met our needs and wants. I would switch to an EV again in a heartbeat, and my house and environment are less accommodating than yours seems to be.

 

[rogersmj]

Have you driven the Tesla? There's a lot of great things about Teslas but, like everything, there are trade-offs. Some of the things you might think of as "normal" in a $50k-ish entry-level luxury car are either missing or done differently in a Tesla. Beyond the obvious EV lifestyle/charging logistics, a few of the most common things I highlight to people that they need to make sure they're OK with before they purchase include:

• The minimalist interior/most things being controlled via the screen
• No cooled seats (3/Y)
• No CarPlay — expect to rely on the built in nav especially for routing w/ charging

 

[beewang]

Went to Tesla and they wanted to give me $41k for the Acura and then told me to go to CarMax or Carvana to see what they would give. I am guessing maybe around $45k. If you were in my situation, would you sell your car and take a big hit for future savings down the road? It could take me 5 years to break even.

LOL!!
Short ANSWER: F**k Yeah!

Long Answer:
Did you expect to make money on selling a used car??!!
If you want to buy something that you can you use and get more money than what you pay for, stick w/ (men's) Rolex watch and (good location) Real Estate.

Look, your situation changed, you now have a new gig in SoCal and you have SUN, WIND and Solar Panels.
Also your math is wrong! You USED to drive 15K in colorado. You're now in Socal, there is ALOT more schitt to do than colorado (and you live in Temecula)
You'll be making regular run to:
SD
Las Vegas
PS
OC
LA
LAX
ONT

and occasional run to:
SF
PHX
You'll be driving close to 20K / yr
Not to forget.. do you REALLY want to drive in SoCal Traffic in RDX or do you want to be a passenger with your Auto Pilot handle the traffic??

Get the Model Y and you can come back and thank me by Xmas... I take AMZN gift cards

Cheers!

beewang

 

[beewang]

One more thing!!

How EVs are upending the 100-year-old auto supply chain

Companies that make parts for internal combustion engines are facing a harsh future. EVs have different parts, and automakers are doing more themselves.

www.cnbc.com

Your math is off because you are not accounting for the (lack of) maintenance a tesla needs.

4 Yrs 65K miles- only maintenance comprised of
1) Gallon of windshield washer fluids
2) 3 sets of tires from Costco (On Sale! of course)
3) 12 V battery which Tesla replaced on front of my office via mobile service.
No oil, no tuneup, no spark plugs, no ignition coils, engine air filter or brakes (regenerative brakes, the pads and disks are practically brand new after 4 years)

 

[kpanda17]

OP, I made the switch twice and never looked back.
A lot of us are moving to EVs for the good of the earth.
A free ride with solar powering your EV would be nice, but don’t make that be your deciding factor.

 

[jjrandorin]

OP, I made the switch twice and never looked back.
A lot of us are moving to EVs for the good of the earth.
A free ride with solar powering your EV would be nice, but don’t make that be your deciding factor.

While there are people who may be considering this "for the good of the earth", for Tesla to survive as a company, it needs to be Way way WAAAY past that as far as customer base.

I have (2) Tesla vehicles, Solar City (now Tesla) solar panels, and 2 powerwall batteries, and absolutely zero (none) of that was purchased "for the good of the earth". I got them because they made the most sense for what I was trying to accomplish.

IMO people need to stop trying to push "For the environment!!!" on everyone like thats going to be a primary driver for everyone (its not). The products need to be good enough to stand on their own, and not get bogged down in discussions about whether or how battery manufacturing itself is good for the environment, how people with solar are pushing costs onto those who cant afford to install solar, or any other agenda based discussions like that.

Most people just want to know "does it work for me and my family?" For many people, the answer here is Yes. There are a few gotchas with Tesla, just like some other brands, but buy and large the products are decent to very good, and can hold their own with competing products from other companies, depending on what your priorities are.

For a lot of people though, they shut down the minute someone starts going on about "you have a responsibility to those who come after to Xxxxxxxx blah blah blah". Focus on the products themselves, they are good enough to stand on their own without that stuff, for the most part.

 

[foxwiz5262]

Putting aside potential cost savings, which car do you actually like better? Have you driven the Y yet? Does the Y have all the features that you have with the RDX (at least the ones you care about)? How about driving dynamics between the two? You spend a decent amount of time in the car, how do the seats compare for your specific body? Are you a heavy cruise control user? Are you aware that some people (and in some areas/conditions) have very serious issues with Tesla Autopilot/TACC (phantom breaking) that means they essentially can't use cruise control at all? (Does not happen to all/most, but absolutely happens to a significant percentage of owners, and there is no 'dumb' cruise option). Are you okay with the far more limited selection of physical controls in the Tesla? The Tesla has a lot to offer, but it is important to recognize they are absolutely not for everybody. Good luck!

Today I took the wife to the Tesla dealership so she could ride in the car. We both drove it and now that this has been my second time driving it, I spent more time looking over the features and the dynamics between the RDX and the Y. Seats are good in both vehicles, but I do enjoy the RDX more. I wasn't aware of the cruise control issues, and thanks for pointing that out. We do plan to travel the SoCal freeways some so that would be an issue for me. Regarding the controls on the screen, that seems to be OK, and it would take some time to get used to. The wife and I talked about our drive today and decided that we will stick with the RDX.

 

[foxwiz5262]

If you have Test driven the Tesla and you like it, then you should include that into the calculation of how much money you are saving during those 5 years.

Some things are better than money, assuming you are not compromising something else in life to get it.

You could also put it the other way, how much money you have already wasted purchasing a non electric car in the first place, while they have been in the market.

I did put together a spreadsheet with calculations of costs over each year with mileage, services (mostly RDX) and loan information. We decided that it is not worth losing so much money on a brand new car, but it was fun to dream for a bit.

 

[foxwiz5262]

I actually live in the city you state under your name (Temecula). I would caution you that, if you just moved here (less than a year), you really need to consider this statement. Whether you have enough solar to generate electricity for your home and also 15k of miles depends wholly on the size of your PV installation, home, and electrical usage.

Sometimes people see solar on a roof and just think "electricity is free", and dont really account for how much they use, and then get shocked. Some homes out here have really small (for the area anyway) solar installs because solar was mandated on new homes, but its like 6 panels.

Before you start doing math on how much you would save, you need to ensure you actually have enough solar to absorb that amount of increased electrical use, or ensure that you are making the decision because you dont mind taking longer to break even on the trade in of the car.

I have a model 3, Y solar and Powerwalls, and have lived in this area for more than 10 years, so am pretty familar with the weather, and how solar works out here. AC is going to really drive electrical usage out here between June and about October.

The house we moved into has 19 solar panels and so far during sunny days, it seems that we generate about 37 kWh of electricity. Now during the last week or two, we are pinging 30-40 kWh, but when it gets cooler, we should be using maybe 10-15 kWh so I am guessing our overage would be covered during the lean months, but since we have decided to keep our RDX, that won't be a problem now.

 

[foxwiz5262]

First, how did you get Tesla to give you a solid offer on your RDX upfront? I've never heard of them doing that. Once I ordered my MYLR, I was given a value range for my trade. Once my VIN was known, I was then given an actual value, which was thousands lower than Tesla's low estimate. You can check values online using dealers like Carvana, KBB, Vroom, Driveway, etc... It just takes a couple minutes to get an offer, which can vary greatly between them. I went with a KBB Instant Cash offer, because it was the highest. I just needed to drive to a local participating dealer and have it verified and then was given a check. I've used Carvana in the past and it went smoothly as well.

The rest of your decision making is clearly unique to you. Asking this question on a Tesla forum will get you different answers than asking on an Acura forum. We are all here because it met our needs and wants. I would switch to an EV again in a heartbeat, and my house and environment are less accommodating than yours seems to be.

Not sure how they gave a solid offer but since it was so low, I guess they felt safe! I did go online with Carvana, KBB, and CarMax and they all said that the car was too new and needed to be evaluated at the store. So I haven't done that and since we took our second test drive today, we are keeping the RDX so I guess we won't really know. I really like the drive of the RDX and not that hot on the simplistic dash on the Tesla, but in time, I am sure I would get used to it.

 

[foxwiz5262]

Have you driven the Tesla? There's a lot of great things about Teslas but, like everything, there are trade-offs. Some of the things you might think of as "normal" in a $50k-ish entry-level luxury car are either missing or done differently in a Tesla. Beyond the obvious EV lifestyle/charging logistics, a few of the most common things I highlight to people that they need to make sure they're OK with before they purchase include:

• The minimalist interior/most things being controlled via the screen
• No cooled seats (3/Y)
• No CarPlay — expect to rely on the built in nav especially for routing w/ charging

Yeah, we talked about those items you mentioned and did help us with our decision to keep the RDX.

 

[foxwiz5262]

LOL!!
Short ANSWER: F**k Yeah!

Long Answer:
Did you expect to make money on selling a used car??!!
If you want to buy something that you can you use and get more money than what you pay for, stick w/ (men's) Rolex watch and (good location) Real Estate.

Look, your situation changed, you now have a new gig in SoCal and you have SUN, WIND and Solar Panels.
Also your math is wrong! You USED to drive 15K in colorado. You're now in Socal, there is ALOT more schitt to do than colorado (and you live in Temecula)
You'll be making regular run to:
SD
Las Vegas
PS
OC
LA
LAX
ONT

and occasional run to:
SF
PHX
You'll be driving close to 20K / yr
Not to forget.. do you REALLY want to drive in SoCal Traffic in RDX or do you want to be a passenger with your Auto Pilot handle the traffic??

Get the Model Y and you can come back and thank me by Xmas... I take AMZN gift cards

Cheers!

beewang

HA HA. Thanks for the reply and sure, we will be driving quite a bit more in SoCal with lots of stuff to do so the break even point would even sooner than I thought. The traffic issue is what it is and either vehicle would be OK I guess. Someone else said that there are issues with the Auto Pilot sometimes jamming up, and I haven't heard that before, but as of now, we will be keeping the RDX.

 

[jjrandorin]

The house we moved into has 19 solar panels and so far during sunny days, it seems that we generate about 37 kWh of electricity. Now during the last week or two, we are pinging 30-40 kWh, but when it gets cooler, we should be using maybe 10-15 kWh so I am guessing our overage would be covered during the lean months, but since we have decided to keep our RDX, that won't be a problem now.

When it gets cooler you will also be generating less energy. If a june sunny day is 37kWh, plan for a Sunny December day here to be about 1/2 that, or 15-18kWh of generation.

 

[father_of_6]

Today I took the wife to the Tesla dealership so she could ride in the car. We both drove it and now that this has been my second time driving it, I spent more time looking over the features and the dynamics between the RDX and the Y. Seats are good in both vehicles, but I do enjoy the RDX more. I wasn't aware of the cruise control issues, and thanks for pointing that out. We do plan to travel the SoCal freeways some so that would be an issue for me. Regarding the controls on the screen, that seems to be OK, and it would take some time to get used to. The wife and I talked about our drive today and decided that we will stick with the RDX.

Just for kicks, I recommend you test drive the Model 3. You don't even have to think of it as a potential purchase. Just think of it as doing a favor for an internet stranger. Take it out for a spin, drive it like the full-size go-kart that it is.

 

[mark02115]

good decision...... I did end up buying a Model Y, but kept both of our 4runners.

 

[beewang]

HA HA. Thanks for the reply and sure, we will be driving quite a bit more in SoCal with lots of stuff to do so the break even point would even sooner than I thought. The traffic issue is what it is and either vehicle would be OK I guess. Someone else said that there are issues with the Auto Pilot sometimes jamming up, and I haven't heard that before, but as of now, we will be keeping the RDX.

*** I am about to go into a rant, so it is best for you to stop reading here. To continue reading, please make sure you have thick skins and won't take anything personally.

I can respect your decision. If the car is not for you ... then its not for you.

BUT...
I don't understand... based on your original question "would you take a loss and recapture.." I am a finance professional and this is a finance question, Based on the info you provided, the math simply works!

Your spreadsheet is wrong because you are not factoring:
- $7,500.00 Fed Tax Credit (unless you are telling me you either don't pay $7,500 in Fed Tax or your joint AGI is > $300,000 for 2023)
-$2,000.00 Cal CVRP Rebate
The sum is $9,500.00 (call it $10K for ease of rounding).

Your "gas" / electron is free (essentially) from solar, while you are paying $300~$350 a month in petro/gasoline (via credit card, presumably).

The difference between your RDX @$42K vs a new Model Y LR @$52K (+Tax and License add $5K) is $15K ($57K-$42K)
1) As discussed above, $10K is recovered via tax credit and rebate. Your net diff is now $5K.
2) You will need to change oil with your RDX, at least 1X per year. appx $200
3) You will need to replace your brakes at least 1 X / 5 yrs in RDX (Tesla Model Y Brakes will be fine for 150K miles, unless rust - due to infrequent usage) Appx $2,000
4) I am not going into tuneups, transmission service.. they are requisite and they are not cheap.

Your math simply is off .. by taking a loss now on your 8 month old RDX you will be made whole on Model Y LR in 18 months
You will be SAVING real money 1.5 yrs from now from keeping your RDX. This simply makes SENSE!

The "problem with Auto Pilot" is a total BS excuse to make yourself feel good about your decision to pass. The phantom braking is a non-issue.

I can respect if you simply like the RDX traditional car cabin and dislike the Scandovanian minimalistic design of Tesla, but let's call it what it is. We all have different tastes, and Tesla is now turning into the "Toyota Camry, Honda Accord" of the world whereby everyone has it. It's okay to be different. But your decision does NOT involve a "smarter financial decision".


cheers,

beewang