We have a 2018 X and leased in Dec a 2020 Model 3 LR. We hardly drive either car, but especially the Model 3. It has 500 miles on it. We last drove it in early May. We are not planning on getting rid of it, but I understand the sentiment
You can install our site as a web app on your iOS device by utilizing the Add to Home Screen feature in Safari. Please see this thread for more details on this.
Note: This feature may not be available in some browsers.
With 900$ a month, you can hire a lot of taxis and/or rent a car.
If I could live without owning a car, I definitely would.
Since I need one, i might as well own a nice one...
It depends how often do you need a car...Its not 900 a month "for the rest of his life". It is only until the load is repaid, which is usually about 5 years. If he keeps the car for 10 years, he will have 5 years with $0 a month payment, plus the residual value of whatever he sells the car for at that time.
So you might reasonably compare that with $250 worth of Uber credits.
Taxis and rental cars are not a reasonable way to get around except in a metropolis, nor will they ever be cheaper than a junk car.
Its not 900 a month "for the rest of his life". It is only until the load is repaid, which is usually about 5 years. If he keeps the car for 10 years, he will have 5 years with $0 a month payment, plus the residual value of whatever he sells the car for at that time.
It probably doesn't make sense to pay $900/month for a car that gets little use. Tesla is currently selling 2018 M3 Mid Range models with FSD and under 10k miles for as little as $44k which means you will likely end up having to sell your car for a few thousand below what you owe. However, you can lease a new Civic with $0 down payment for around $250/month (plus taxes and insurance) so the longer term savings is still there.If I do sell the car, I'll probably get a low-mileage lease car for about $400 per month, including insurance (e.g, Civic, Camry).
I know this is my own personal decision, but I would leave your perspectives.
My job is now 100% remote. I have a 2018 M3 midrange with EAP. I probably spent another $3,000 on things like tint, front wrap, powder coat, etc.
I financed pretty much the entire amount, probably have about $43k left. It has 25k miles.
Before COVID-19, I was driving 50 miles RT for work, and of course, using EAP. Now, I rarely drive the car and so I am paying close to $900 per month including insurance and payment.
I thought about renting it out on Turo so that I can at least keep it and drive it around on the weekends. But the thought of cleaning, taxes, and meeting random folks seems stressful.
If I do sell the car, I'll probably get a low-mileage lease car for about $400 per month, including insurance (e.g, Civic, Camry).
I know this is my own personal decision, but I would leave your perspectives.
What color paint? If you sell how much are you asking?
I have driven about 100 miles in the last 4 months and have paid ~$675/mo for the privilege. Sucks to be paying so much for a car and having it sit in the garage. But these are unprecedented times and there is zero chance I'm going back to driving an ICE car. So for now I'll eat the monthly payment and hope that things get back to normal soon enough.
lol what are you doing here
You are paying the majority of that towards obtaining ownership of the car, unless you are leasing. If you don't drive your car as much then it will last longer.
Everyone here is thinking about "monthly payments" and acting like they won't need the car anymore when the payments are over.
When the payments are over they'll go buy a new car b/c now they have extra money.
I can ask you the same question, Lol.
Did I give OP bad advice? If yes, how so?
Is it not wasteful to pay $900 a month for a car that he's not using?