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Vancouver area Tesla new car inventory
- Thread starter scramies
- Start date
In our case we were paying cash but money is so cheap right now it makes sense to borrow. Everybody is in a different situation.
Not knocking you for getting one
Just saying that with a likely recession soon
Good to do a double take before getting one
If it's within your budget and means, I'd say RIGHT NOW is the time to buy.
Our loonies are crashing down with petro war going on with Saudi and Russia.
It's just a matter of time when it no longer makes financial sense and Tesla has to raise prices.
Not to mention that banks are tightening their lending practices. In many lenders, the mortgage rate for new loans actually went UP instead of down because of the risk associated has increased.
More precisely, if you are paying cash anyway, I'd recommend put that cash aside and take out a loan to pay for it. You lock in the current rate AND price.
Our loonies are crashing down with petro war going on with Saudi and Russia.
It's just a matter of time when it no longer makes financial sense and Tesla has to raise prices.
Not to mention that banks are tightening their lending practices. In many lenders, the mortgage rate for new loans actually went UP instead of down because of the risk associated has increased.
More precisely, if you are paying cash anyway, I'd recommend put that cash aside and take out a loan to pay for it. You lock in the current rate AND price.
Mine was 3.75 for 5years IIRC, and it seems that from the Financing thread, people are getting down to 3.25% although term is unsure.
If money isn't an issue, and one were to buy one anyway (and your income is CAD based), I'd say buying before Tesla starts to change prices to accommodate for the new exchange rate would be the smart choice.
One example I'd give about the exchange rate volatility on products, I'm into cameras and back then I got a Sony lens when our loonie went from about parity to 1.3/1.4 in very short time. Sony Canada hadn't reflected the change yet and I was able to get the lens from 1350 with promo and everything. Then the lens MSRP jumped to 1800 with 0 promo. By the time I was done using the lens, I was able to sell it at the price I paid for. Of course, looking at USD term, I lost money, but from a CAD term, I literally spent 0 to use for over a year.
Thank you!
We are going into a major recession hold your dollars close.
If this goes on for 7 months a year will you be able/ wanting to pay car payments?
You are missing the part where it's now risky for lenders to lend and therefore it needs a greater return to justify.
Again, as I said, if you think your job/income is going to be severely affected if coronavirus progresses into long term, then definitely postpone your purchase.
However, if you already have everything planned out and saved, why not lock in now? 2wks ago, the USD:CAD was 1:1.3, this week, it's 1:1.43, So, there goes 10% of our purchasing power. If we were to go down further, say 1:1.5, and instead of 55,[email protected] (the currency rate Tesla leverage on) and increase to 64,[email protected]... the 9K difference, plus the fact that Tesla might not be able to qualify on fed/prov rebates (which might go away given how much stimulus we are putting into the economy. I doubt they'd fund it further), which is another 8k... One'd be looking at an absolute cost in CAD term of 30% increase.
That's why I said the best time to buy a Tesla might be now before they start increasing the price
It's encouraging to see the interest in the Vancouver inventory, M3 has 25 available down from 50, MX with 20 available down from 45 and MS the same at 10.
I don't believe that Tesla will increase pricing on their various models any time soon to balance the currency exchange differences, particularly in light of the unusual impact the the virus is having on world economies. Time may well come however when it will be necessary if this situation is prolonged.
I don't believe that Tesla will increase pricing on their various models any time soon to balance the currency exchange differences, particularly in light of the unusual impact the the virus is having on world economies. Time may well come however when it will be necessary if this situation is prolonged.
Companies like the size of Tesla usually hedge their currencies to avoid fluctuations, although I can't find a valid source about Tesla hedging their currencies. And it kinda makes sense as Tesla is always adjusting prices (remember when it quickly adjusted China's price after the tariff went into effect.
At 3-5%, it's probably ok and they consider it as a cost of doing business. But as the difference becomes bigger and bigger, it can only be so long Tesla starts adjusting its price, otherwise, people would simply start to arbitrage (buying brand new Tesla and export immediately back to US) once the difference is big enough.
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