noah82
Member
It's really a shame that the OP is out $11,000 for what could likely be a single $1,500 battery module.
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It's also a possibility that your 60 pack is in fact repairable, but Tesla doesn't repair packs. .
I asked if I could keep the battery, and they said I could for another $10k.
Others have received refurbished packs though, right? Isn’t that what they are going to install in the op’s car? Or have they all just been used ones Tesla has lying around?
Tesla does refurbish packs, but they don't repair them. (The difference being refurbishing is what they do to failed packs they take back as a core, and repair is if they repair the pack in your car for you.)
Elon isn't on this forum?I could pay cash but I would have to liquidate money that’s invested and earning more than the rate of the auto loan. Do you have a bunch of uninvested cash lying around and accumulating for your next car purchase? Kind of a strange fixation on being a billionaire. I think the odds of any of us in this forum, of becoming a billionaire, is extremely low and close to zero. And it’s not because most of us financed our Teslas.
Wow, $11k for a refurbished pack. All the packs I've repaired/refurbished to date have been $1500* or less.
Hell yes I would turn down a loan with a 1% or 2% interest rate since it means I'm probably going to buy a $100k car that I don't need and can't afford.
It makes 100% financial sense over time and is how I'm able to buy multiple Teslas today with cash.
Buy a new Tesla (or any car) for $100k at 0% and guess what... you're going to lose about $10k per year on depreciation and that's even at 0% interest. Once you sell/trade that car and realize that loss it's going to be steep and the market is littered with great used cars at amazing prices by people who made exactly that poor decision.
Now, if what you can "afford" to pay cash for is a $5k car... tell me how much you're going to lose per year in depreciation. Hell, I'll even allow you to factor in repairs. Still a looooong ways off from that $10k per year loss figure.
This thread isn't about financial guidance and what decision to make BEFORE getting yourself into the position the OP is in though so we're getting off topic. He's forced into a terrible decision right now because someone like you told him it was a good idea on the front end because the interest rate was so good. lol
How is it people will stand their ground that financing cars at ANY rate is such a good "investment" that they'll even argue it within a thread that demonstrates that it's clearly not?
I think a big portion of that is probably the warranty. Do you provide a 4-year 50k mile warranty on your repaired packs? (Even for the parts you didn't repair.)
You are correct on the mechanical front, however there is another aspect. All the computerization of the car requires a lot more skill to debug, which the service centers are not necessary fully equipped to deal with - the techs are not software engineers. This results in intermittent issues which cannot be reproduced easily, therefore cannot be fixed, so costing time in the shop. Some examples from my own experience:Again, dozens of moving parts versus hundreds of moving parts. You can't deny that.
You make no sense. Buying a $100k car with cash, you lose about $10k per year on depreciation anyways. It doesn't matter if it is financed or not.
If you are worried so much about depreciation and so much about becoming a millionaire, then your financial decision to get a Tesla is also WRONG. You could have invested those cash in an index fund for more money instead of losing out on depreciation. Why don't you drive a Hyundai instead?
If I get 1 to 2 % on a 84 month loan, I can invest that in an index fund instead that on average beats 1 to 2% per year.
Also read this reply What to do?!?!? 2013 Model S 60 Battery fail
Good luck OP. Stuff like this is definitely scary and will probably make the used price of these cars plummet soon. That's an expensive repair!
I am really surprised Tesla isn't goodwilling this. Someone asked some time ago if we would be finding out what an 85 pack cost with them falling out of warranty soon and I posted I thought they would continue goodwill for awhile.
Coworker's ask what the battery life and cost is, which I generally replied "nobody knows" due to the 8 year unlimited mileage warranty. I was unaware of the shorter warranty on some smaller packs. I won't tell them batteries suddenly die at 130k but now I will have a cost baseline and it isn't one that will inspire anyone to run out and use my referral code.
Read it again, I don't believe such a thing at all, that was my point, but I am not a koolaid drinkers so I do admit overall the car is NOT particularly cheap to own and now that I know a battery cost I won't hide it.You are assuming all battery packs die at 130k miles? Highly unlikely since there are several cases of them going much farther and still going.
You are assuming all battery packs die at 130k miles? Highly unlikely since there are several cases of them going much farther and still going.
The worst part of this five-figure repair/replacement is that when he drives out of the SC he'll still have a six-year old (or older?) MS 60, vs. something that feels like he just spent $11k to upgrade or improve. That's a very hard pill to swallow, what I'd call another payment towards "tuition of life."
At the end of the day, compared to any MS 85, an original MS 60 is a massive liability risk. Their value will drop as more cases like this hit the forums, but it was a risk that was hard to quantify back in 2013 . . . .