This is dangerous - for my wallet. Another should I thread.

[JMG]

Based on how long you keep your cars for (8 years on the previous Tahoe), the gas savings alone could pay for this car in itself. At $500 a month on gas, you're spending $6k a year on gas. If you keep this car for 10 years, that will mean you have saved ~$60k on gas, and add that to the remaining value of your Model S ~$20k (conservative estimate at 20%), that would mean your cost of ownership relative to the Tahoe would have been only $20k or $2k a year over 10 years. Compare this to your gas car, assuming you bought the car for $40k and $60k spent on gas, your total cost of ownership comes up to $100k (same as the sticker of the Tesla), but I doubt the $40k car would still have $20k value on it (probably closer to $10k).

Annualized over 10 years, the Tesla makes much more financial sense. If you get rid of the car in less years, the car becomes less worth it but still very close based on your driving habits.

Very true stuff. The kind of thinking I was wanting to evoke here. I'm trying to put pencil to paper so I can justify to a few special few, and more importantly to myself, that it isn't quite so black & white when it comes to numbers. In other words, its not the same as going out and buying a new $100,000 Mercedes or BMW.

The only drawback to your logic is perhaps with the technology, will the Model S be fairly antiquated in 6-7 years (if not sooner). At that time will the new Tesla Model Q go 750 miles on a 10 min charge? I guess that is just part of taking the leap of faith as an early adopter.

 

[aja2460]

Again, same as many others, much more than I had ever spent on a car, much more...
As much as anything, I did it for my kids, and their kids, and your kids.... and maybe even for me :smile:

 

[fadkar]

It sounds like you can afford it, but are worried about the perception and just the psychology of buying something that expensive. Fair enough-- in that case, I would suggest that you buy a used one.

There are lots of used ones on the market, and if someone asks you, you can tell them that, sure it's expensive, but you bought it used. That seems to help with the perception.

Psychologically, you can know that some other poor fool took the initial depreciation hit, and you're saving a bunch of money by buying used.

If he can afford it, he might as well get a new one configured just how he likes it! But for his psychological well being, maybe he can tell everyone he bought it used anyways:wink:

 

[Zythryn]

Agreed, and good point. However, I know me, and I'd want the 85 for the added safety net as I do travel for business from time to time. Plus, I'd want the tech package, 21" wheels, etc etc. I wouldn't want to spend $70k on a car that I didn't get at least 90% of my wants.

Good points though, thanks!

The 85 comes with supercharger access included, which takes some sting off the increase.

If you aren't the flashy type, I see no reason for the 21" wheels. Rougher ride, easier to damage.
I'd say get a standard 85 with tech package.
Don't get red, or the red calipers and the car doesn't stand out as much.

If you add fuel costs over 8 years the standard 85 comes out pretty comparable to what you are driving.

 

[TexasEV]

The 85 comes with supercharger access included, which takes some sting off the increase.

If you aren't the flashy type, I see no reason for the 21" wheels. Rougher ride, easier to damage.
I'd say get a standard 85 with tech package.
Don't get red, or the red calipers and the car doesn't stand out as much.

If you add fuel costs over 8 years the standard 85 comes out pretty comparable to what you are driving.

I completely agree, get the 85 with 19" wheels to keep the initial cost down and the tire replacement cost down. Tech package is a must. Other than than anything else is really optional. You don't need air suspension unless you have a steep driveway.

 

[Zythryn]

...
The only drawback to your logic is perhaps with the technology, will the Model S be fairly antiquated in 6-7 years (if not sooner). At that time will the new Tesla Model Q go 750 miles on a 10 min charge? I guess that is just part of taking the leap of faith as an early adopter.

Do you need it to?
I have no doubt we will see dramatic improvements.
Heck, since I bought mine they have added parking sensors, AWD, and automated driving sensors.
I would love to have those, however, I wouldn't trade driving the best car in the world for the last two plus years for any of that.

 

[JMG]

Good stuff good stuff!!

You have convinced me on the 21". You are correct that its a little counterproductive to not want to be flashy, and turn around and order the 21" flashy wheels.

Right now the 85 is looking great. I just hope another month on this website doesn't have me buying the P85D and putting a deposit on the X.....

 

[paulwesterberg]

This is like going to a star wars forum and asking them if you should build a 1:1 replica of the Millennium Falcon in your back yard "for your kids to play in".

1. I don't live in a rural community, but I grew up in a lower-middle class family of modest means(lived in a doublewide trailer for a number of years) so I wrestled with this as well. I would never buy a luxury vehicle from another manufacturer and haven't been interested in them because they average around 20mpg. I don't really care about luxury so much as having an electric(non-pulluting) vehicle that can travel long distances. The extra performance is a nice benefit of torquey electric motors. I leased a leaf for two years because I felt I wanted to test an EV and felt that couldn't justify the cost of a Tesla and its a decent/affordable commuter vehicle but its short range and lack of convenient fast chargers meant I had to leave it home on many weekends.

2. I agree its too much to spend on a car but, but I'm a DINK, retirement is covered, private stock in a successful company has done extraordinarily well, my TSLA stock investments offset a good portion of the price of a vehicle. I agree that you can get a Tesla for 70 grand, but I ended up optioning mine to around 100 because I don't plan on buying a car like this again and want to enjoy it without regrets. Also for most of my friends/family this will be their first chance to ride in a Tesla and I wanted them to see that how good an electric car can be. Supprisingly my wife is really excited to get the Tesla and less concerned about the cost even though she has a very conservative when it comes to personal finances.

3. Personally for me the Model S is a little bigger than what I need, and I think that a smaller, more toss-able car might be more fun, but my wife and I go snowboarding, skiing, xc skiing, biking, camping, canoeing etc. and have a large dog so a little extra room will probably work out just fine. Get the D and tell all the truck guys that it has AWD with the air suspension can raise/lower the vehicle.

4. I don't have my mostly loaded S85D(April) yet so I don't know much about buyers remorse, but I do know that Tesla pushes out regular software updates that make existing vehicle better. The P85D just got an efficiency update via software. All vehicles come with autopilot hardware which will allow the car to mostly drive itself on highways once they finish validating the software and push the update out to vehicles.

Anyway, welcome to the forum and you should definitely build that spaceship, for your kids of course.

 

[PatD]

I'm in your exact shoes. Work for myself (with a good/successful income), but don't drive a ton for work, so that doesn't help. Mid 30s. Put a swimming pool in last year. Current car is a 2006 TL ($29k) with 73k miles on it, and my wife is driving a 2004 MDX w/150k miles on it. And they're still solid. I've looked at the Tesla for a few years now at the local mall and always dreamed. Everything except the mortgage is paid off, and retirement accounts look good. Financially, no problem. I played with numbers trying to make it "sound good" financially, which I couldn't (Because I wanted a P85D.)

My wife finally setup a test drive for me, big mistake for her. Bit the bullet and pressed the confirm button a month ago. I should have my P85D at the end of March. Biggest expense ever (Short of the house.) I'm not flashy, but I am a car guy and a computer guy. So it was tough for me to ignore. And I love being green (Also have geothermal in the house and looking at solar.)

My biggest issue is going to be pulling up to a client's office in this. I'm going to have to hide it a little. The P85D emblem will be coming off so that helps. . .

I agree - don't do the 21s.

Otherwise, what everyone else said is spot on. You can't justify it cost-wise, for the most part. It's not an "investment." You will lose money, etc. Your work driving does help justify it in that respect. But this is more a lifestyle. Going green doesn't hurt. Pull the trigger and don't look back!

 

[Mel911]

I think if you can comfortably afford it, then go for it. If you don't like it, you can always sell it, and if your neighbors don't like it then you can always get new neighbors!!!

 

[brianman]

... I drove first, then she did. When we got back to the store, she's asking me "so which color do you want"?

"She's a keeper."

 

[gavine]

I, like you, researched and researched. I drove my wife crazy by the number of times I would lean over to her on the couch and say "you gotta watch this Tesla crush this sports car". She is the one that suggested going for a test drive. I warned her just how dangerous that is. I crunched the numbers so I could convince myself I could afford it, whether it is a good financial investment is a different debate. But I knew if I drove it, we'd own one. I drove first, then she did. When we got back to the store, she's asking me "so which color do you want"?

Top ten posts of all time.

 

[brkaus]

Slap an S60 emblem on it, makes it the same price as a loaded Tahoe

I have a 2006 Acura TL, 2003 Dodge Ram, 2003 bmw 330ci. average mileage is 110,000 miles. All need work.

I'm in the same boat. Waiting for gas prices to go back up to help my rationalization. Sadly, test drove the P85+ a while back..

 

[JMG]

I'm going to try my hardest to cool my jets for right now, so I can get some semblance of work done. I've wasted a good bit of my day reading about charging times, air suspension, etc etc. that I've hardly got any work done.

I've got a short conference in Dallas in April, I might find a way to sneak on over to Northpark and take a look or two. Another bad idea I think.

Farther down the rabbit hole I go...

 

[CHG-ON]

Lots of great replies here and I hope I am not being redundant. But here are my comments in no particular order:

1. I just heard about a backlash against the "fancy" car owners up the Sonoma County area, where a guy who had his car valet parked at an upscale hotel came out the next morning to find the entire side of his car keyed. So jealousy and angry vandalism is certainly out there. I live in a rural area near Silicon Valley. Sot it's a bit of an odd mix here. There are a few Teslas and other high end cars up in my neck of the woods. But I would say that most cars are older and modest. So it is unfortunate that we need to think about these things. That keying will probably cost 5-10K to completely repaint to original condition. My heart goes out to the owner. I just don't get the anger in our country.

2. While the car is expensive to purchase at any trim level, operating costs can be close to essentially zero. I drive 30K mi/yr and am now saving 650/mth in gas, when adding in the benefit of having my electric rate changed to the EV plan offered in this area. That's a 45-50K car payment per month alone! Even at our lower gas prices, gas is still 8-10 times more expensive than electricity. It only costs me 4.50 per every 236 mi "fill up". And I have no maintenance costs. It was all baked into the price. So, net-net, the car is essentially free for me to operate, based on my previous costs of driving a turbo Acura that requires premium. Lastly, I got a 2,500 check from CA and am getting 7,500 in tax credits, which I will be able to fully claim, based on my income level.
3. The car is the safest car ever tested by IIHS. Having kids, this could be a big "peace of mind" for you. Go to the IIHS crash test site to see how well the MS survives the concrete barrier. It is really amazing.
4. The car has received the highest rating Consumer Reports has ever given in its over 100 year history. Two years running. Hard to argue with that!
5. Lastly, I learned some time ago to stop worrying about what other people think of me. I do my best to not be showy and downplay the car to those whom I think might be judgmental. But the vast majority of comments I have gotten have been very positive as people are completely intrigued.
6. OK, another last comment...I might have considered another fully electric car, but their range, at 70-100 mi max is essentially useless to me, other than using it for an around town runabout. Talk about range anxiety!

 

[Lerxt]

Really interesting post, OP, it's probably a fairly typical set of issues across the U.S. it's interesting that you and I live in places that couldn't be more different...
1/ Elitest effect. If you don't have a nice car where I live you are not one of the crowd! It doesn't exist for me, but I would suggest that you just say to people it makes financial good sense overall and protects you from gas prices fluctuations and foreign oil price influences.

2/ as above, I'd say that buying this car for $100k is a bit like buying some other car plus fuel for the life of the vehicle. It's like you are pre paying for gas!

3/ you love fast cars? Buy a fast electric car, it's what you want, not was the rest want

4/ I own this car because it's moving the world to a place where I'd like to see it environmentally, it looks great, is fun to drive and is revolutionary in technology. You will never drive anything else after experiencing a Model S. Your kids will likely be adults in a world where ICE cars are old technology and seen as dirty, it's a good chance to show them how the world should be. Innovative and clean in revolutionary American technology.

 

[DrGuest]

I had a High School Senior that was going to start driving his freshman brother to High School and thus needed a 3rd car. I did not want another gas bill. I owned a Ford Freestar and a Ford Escape hybrid and really wanted my next car to be a BEV. A business trip to San Jose was the beginning of my Tesla obsession. I saw 13 of them in 2 days, saw a supercharger station and saw just a blurr as I saw a Roadster take off when the light turned green. The next 3 weeks I consumed mass quantities of information and searched YouTube videos for anything Tesla. I then called Tesla to ask how someone in Montana could even get one and they said they will deliver it to my house, office or Disneyland If I wanted them to. I then asked about financing because I have never spent much on a car before. My father is a retired design engineer for Ford, so we have always had below dealer cost discounts with a Ford. Tesla told me about Alliant Credit Union out of Chicago that were offering 1.49% with 0 down for 60 months. I then actually talked to my Stiffel Nicholas Financial adviser, with my wife present. He said with zero down I would not have to sell anything and with the gas savings, no oil changes, carburetor tuneups, etc, he felt I would make $ on the deal. So October 19, 2013 I clicked in my order. This was all without a test drive or even sitting in a Tesla. Now over a year later, I still get thumbs up at traffic lights, have people taking iphone photos of my car going down the road. On our last family trip the whole family got to experience the "Tesla Love" as people gawked and took pix going down the highway. I have been invited to Montana State University for an EV car show twice and the Model S makes every mechanical and Electrical engineering student drool and inspires each and everyone of them to continue to work hard in school to become part of this disruptive technology, many of them comment about seeing Elon Musk while in Butte , MT and how they left totally inspired. My car is thus named, Inspiration. So I justify by saying, I'm not interested in showing off, but I am interested in Inspiring those around me, and if this is what the future of Automobiles looks like, then the Future looks pretty great to me! Good luck, resistance is futile!

 

[anxman]

My favorite part about owning the Model S is that most people think the car costs $60k, because that's what the starting price is. Nobody needs to know exactly how much you spent on it, and if someone asks, just blow off the question.

I also live in Silicon Valley and Teslas are everywhere here. Anti-luxury jealousy sentiment exists everywhere in the country and will be a risk with purchasing any luxury car.

 

[willer]

The Tesla is "expensive", sure, but there are a lot of operating costs that are embedded in that upfront cost. An upfront subsidy to pay for "free" Supercharger usage, all that warranty coverage, 1/10th "fuel" costs when charging at home, etc. Also consider that resale value is currently very good.

Someone did a financial analysis of TCO of a Model S vs a Honda Odyssey a while back. It's very eye opening, even with the latest adjustments. Basically, if you keep the car for perhaps 7-8 years, it's actually quite comparable to a Honda, or a small BMW, in total costs. Tesla Model S Cost of Ownership vs. Honda Odyssey

 

[Alysashley79]

There isn't to much to add that others already haven't. I came from a 2006 Honda Pilot and was spending anywhere from $800 to $1100 per month on gas. It's not just the gas but the oil changes, time stopping to fill up, repairs to the car because let's face it at 36,001 something happens right?

I don't live in an area where the tesla is a complete head turner. I think Seattle area is Teslas #2 selling spot in the US but...in my circle of friends it was sort of awful for the first month. We de badged our car so no one knows what it is (a P85) and we got a lot of flack for spending that kind of $ on a car, but when we'd explain our logic to people the $ topic of it was dropped. ita been 15 months and no one says a word anymore. When people ask how much I paid for my car I simply reply the cars start at $70k with a $7500 tax rebate and as an adddd bonus you never ever have to buy gas again!

My my recommendation of you want to buy an 85 ONLY test drive an 85. Otherwise you'll end up with a P85D. While the take off is amazing (as it is on the P85) I could have just as easily saved $10k and gotten an 85 and would be just as happy with the car.

You our mentioned you have kids..I'd recommend the rear jump seats they are amazing because now you can still carry 5 adults. And when you don't use them you can fold them away.

The he last thing I wanted to mention was that you said something about going to costco and that you can still use the Acadia. I don't think you'll have to do that. You'd be shocked how much you can fit in the frunk and the trunk(if needed) but I've literally been able to take a full Costco cart and fit it all in my frunk with ease.