Without anyone actually answering that question directly (since it indirectly reveals your net worth), I'm curious through a poll to see just how much people are stretching themselves to purchase this car. By liquid assets, I mean money in your checking, savings, and brokerage accounts, or other short-term investments that can be liquidated in the near future. Don't include the value of your house, existing cars, or 401k/IRA. And calculate it based on the model and options you plan on getting with your Model S.
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What percentage of your liquid assets is being used to fund your Model S purchase?
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Beavis
Model S Signature 991
gg_got_a_tesla
Model S: VIN 65513, Model 3: VIN 1913
That's the beauty of the poll. Keeps it anonymous. Although it's a small sampling size, so far you see both extremes. Those that can comfortably afford the car, and those that are willing to sell their second kidney to get it
Such is the passion for this one-of-a-kind automobile.
Doesn't seem like a very useful poll to me. Most people will re-establish the same level of liquid assets within a year or so after purchasing a car like this. What if we are expecting to sell some non-liquid assets and may or may not need to borrow short-term while waiting for that event? There are many scenarios for juggling assets that make it hard to answer the poll.
I would rather see a poll that compares the purchase to net worth, and separately how many will borrow. You could have a net worth of tens of millions and still borrow to buy the car because the timing is bad or the rates from B of A are significantly lower than your normal cost of capital.
I would rather see a poll that compares the purchase to net worth, and separately how many will borrow. You could have a net worth of tens of millions and still borrow to buy the car because the timing is bad or the rates from B of A are significantly lower than your normal cost of capital.
goyogi
Member
"The cost of the Model S I want is more than the money I have. I'll be forced to borrow money"
I don't know about being forced. I qualify for 6 year loan @2.5% through keypoint credit union here in the bay area and it makes more sense for me to borrow the money. I'll be financing and taking the money that I would normally use to buy the car and invest it.
I don't know about being forced. I qualify for 6 year loan @2.5% through keypoint credit union here in the bay area and it makes more sense for me to borrow the money. I'll be financing and taking the money that I would normally use to buy the car and invest it.
This story:
Poll: Tesla Model S Buyers Willing To Spend Big for Extra Range | PluginCars.com
Includes this link:
Poll on battery size. - View Poll Results
Which shows who's voted for which range option.
Poll: Tesla Model S Buyers Willing To Spend Big for Extra Range | PluginCars.com
Includes this link:
Poll on battery size. - View Poll Results
Which shows who's voted for which range option.
WhiteKnight
_____ P85 #549 _____ Sig Red / Sig White
That's very interesting! On the battery size poll, when you're viewing results, if you click on the results numbers that's when you can see who voted for what. On this poll, when you click on the numbers, nothing happens. I've never created a poll (don't know how to do it) but maybe you can toggle a button to keep it anonymous.
That's besides the point. The first option is only for those that have no choice but to borrow money because the cost of the car exceeds their liquid assests. You may still opt to get a loan even if you can comfortably afford the car, but that's not what this poll is about.
I made sure to keep it anonymous. Here's the link to this poll which does not reveal any usernames.
http://www.teslamotorsclub.com/poll.php?pollid=47&do=showresults
Citizen-T
Active Member
Interesting range of choices there. Note that for people living off investments there's a big difference between spending 1% of liquid assets (less than a year's income) and 12.5% of liquid assets (several years' income, unless you have great investments)!
Given the distribution I'd suggest two follow-ups; one asking the borrowers what percentage of the price they'll have to finance, and one asking the <12.5% folks how *much* less than 12.5% they're spending.
Given the distribution I'd suggest two follow-ups; one asking the borrowers what percentage of the price they'll have to finance, and one asking the <12.5% folks how *much* less than 12.5% they're spending.
Frankly, I think this poll is already pretty intrusive and not likely to produce useful information. Another, more detailed round is only going to make it worse.
I thought about it. I got a 401k statement recently for the funds I'd rolled everything into in 2004. It's worth a few % less now than it was then. I picked the funds that had had the best running 15 year average at the time.
I can get a 2.99% loan, but unless I think the market is going to be nicer in the next decade than the last, I'm better off paying cash and not paying the interest.
How so? It's completely anonymous, no one is forced to answer, and I think quite a few people are a little curious just how much people are stretching themselves to get this one-of-a-kind car. I think it is at least somewhat interesting and speaks to the passion surrounding this automobile. If this information is useless, so is every other thread that asks the opinions of others (such as what color they prefer, which options they plan on getting, etc.).
Beavis
Model S Signature 991
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