Better to finance than to pay cash for a Tesla Model Y
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- เผยแพร่เมื่อ 27 พ.ค. 2024
- Better to finance than to pay cash for a Tesla Model Y
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I bought Tesla model Y last month (March 2024). Since then the feeling can be best described as that of euphoria. I would watch all Tesla videos, read news articles, wait for the new FSD updates, and keep exploring. The euphoria ended yesterday. My car’s rear window glass shattered on its own while the car was in my office’s parking lot. There are two security cameras. A cop reviewed the footage and told me that there were no signs of vandalism. Nobody approached my car. The sentry mode was on and the cameras did not record anything. Upon searching on the internet, I found that many Tesla owners have experienced this. I got a mobile service appointment 2.5 weeks from today, which means that the car is not usable till then. I called Tesla service - their arrogant response was that “the glass does not shatter on its own”, even when many owners have reported this as a manufacturing defect that some Teslas have. The love affair has ended. I owned a Toyota Corolla for 14 years. Nothing of this sort ever happened. I still love Tesla and I love EVs. I hope this was just a one-time incident. Heartbroken!
Be assured from Tesla owners since 2008 that all over time we made inflation cleaned savings of more than 30%! We had problems but it’s also about communication with the right and competent people to solve your problems that you also can have with Mercedes, BMW and your special example 💩 Toyota 🦄🤡 With over 12 cars in the fleet it is Kia and Tesla with near no downtimes and serious problems. In 54 years mostly German Premium we had no car with just no problem so think also your problem is question of communication and not really technical. We just once had serious front upper wishbones problems where we just replaced them by non Tesla parts and also talked to the company that needs also some experience with mostly younger people. Other problems have been no well adjusted drivetrains that needed to be fixed but also there they understand factual approach and even appreciated fair criticism! Best of all actually however is since longer experienced and known for reliability Kia. Our EV6 AWD in two years had not one single problem and therefore by far outperforms German Premium from Mercedes and BMW, Volkswagen Group cars never ever got our attention for many reasons!
Yes, If Tesla offers this rate in Canada, I would buy one.
Tesla is cheap car !!
I saw this the other week and calculated the savings out, it brings the cheapest one I can find to $36353.19. I have a price target of $35K out the door so as much as I want to it's just not there yet for me, but it's so close I can touch it. Knowing what Tesla's margins are on the MY they can afford to cut a little more, and I'll be ready to pounce when they do.
The rate in the UK at the moment up till the end of June is 0.5%
Sooooo triggering to the haters this news!!! Love it. Reduce the barriers, long may it reign as the world’s best selling car!! 🔥🔥
❤ 😂 yes it is like good news and then comments are all bad news
I am sure there are exceptions, but personally I think for many people borrowing $50k to buy a car might not be the wisest option.
Totally agree!
Would never happen in China, at least never at this scale
Not necessarily. If I park those 50k in some bank’s term deposit will pay at least 4% per year.
But it is $38500, not $50k. With the tax credit.
I am still considering used.
@@tireddad6541 ok, park 38k in term deposits and borrow money at 1%. Actually if Tesla has so much money to lend , I would borrow 1 billion at 0,99% and reinvest in terme deposit at 4%. And keep the spread in my pocket.
Great news Sam......Thanks for all your hard work
That is potentially getting into the realms of, a sunk costs fallacy, in 2008 the issue were subprime mortgages loans given to borrowers who have bad credit. Perception is everything when dealing with the market if Tesla does pursue this strategy, it could indicate a perception that things are far more financially serious than people believed due to poor demand, whether they are or not.
$40,000 at today's bank rates around 6.19% vs 0.99% is a savings around $5,500 in interest over the life of the loan 60 months.
Thanks for that info. That’s awesome that you did that.
I know a way of saving 40k.
Keep your existing vehicle!!
@@robertfonovic3551 well you do that and keep paying for all those repairs, oil changes and burning that fossil fuel. Some of us like a new car but need to make payments. Mines almost paid off. What gets me though is these kids who finance their new car then dump thousands into modifications like wraps etc and plunking that bill on high interest credit cards.
another indication that vehicles aren't selling well just like other manufacturers.
the model y is it's best seller. stock is building up.
people don't have the $$$.
Time to get that updated Model Y into mass production!
Totally!!
But there is no MASSIVE demand. 😅😅
@@robertfonovic3551 Excepting that the Model Y is the world's biggest selling car - there's that 🤣🤣🤣
Ugh, so close. Just paid outright for a Model Y four weeks ago.
Part of the buy/finance decison was the 6% interest being worst than the 5% savings interest. Now, could have financed and creamed off the (current) 4% difference in savings interest. Oh well, such is the thrill of owning a Tesla! At least we didn't buy it two years ago when they were $65k only to see them drop $20k (plus not have the $7500 tax credit). That would suck-didley-uck sooo much more!
Actually it’s not if you consider the insurance one has to carry and the absolutely insane prices. My insurance went from 80 to 330 so I said f*** that , paid cash and dropped full coverage. I’ll pick up the extra insurance when the markets come back to reality.
Did you check a few other insurer quotes? Geico, AllState
@@Trust_but_Verify Yes, it seems that insurance, particularly auto insurance is up on average of 50% since 2021. The market is FUBAR
Bloody great deals
Off ya go then
I went to a Tesla store and was busy busy busy with people and families buying Tesla cars Ha Ha EV haters! I also went to GM and not a single person was there!
Anyone know if the new long range RWD has the downgraded speaker system (as the standard range did)?
Been waiting on juniper b/c I need an SUV or truck and can't justify opportunity cost of cybertruck vs returns on investment if I saved that cash. Would be interested in financing model Y for the same reason...keep cash invested. Wonder how many people are also waiting on juniper hoping for luxury features of the highland at a similar or even reduced cost to current model y.
You could invest in treasury bills and get around 5% risk free, or roll the dice something maybe higher.
The model Y i think is front runner to be the "Robbo Taxi", Elon has stated that they will build on current production lines without any reduction in ramp up, how easy if you just adjust Mod Y line a little bit?
I could pay cash but would of course finance at 1% for the longest term possible if I can get 5% risk free on cash from treasuries.
Car payments plus insurance on a $45,000 car are $700 to $1000 a month. Who the hell can afford that?
Over 3 million people that bought one
More like for 6 months.
Seems to me like Tesla is willing to take a small loss by offering 1% to sell current stock and make room for the Model Y juniper that both you and I are waiting for. Good strategy.
From a margins point of view(where Tesla are already hurting) it’s crazy.
Are car prices set to fall?
We need AWD models here in Switzerland much better on snow.
Next weeks offer will be buy one, get one free.
Tesla inventory is very high for model Y, so must be trying to bring that down, but model 3 inventory is quite low. Not sure 3 years is a good investment time horizon :D Although 3 years in Tesla would probably be a good bet.
I prefer to pay cash if I have it because money in my savings account tends to evaporate :)
Not on track to be the best selling car? Corolla is back on top?
Only 50 million sold since its introduction. Clearly an undesirable and poorly manufactured product. 😊
Its 0% in Ireland
Cheers mate
Instead of cutting prices offer 1% interest
A good Friend who owns a tesla told me that most of the Tesla exidences happen because fsd would make an unexpected full Brake and the following car is Not able to stop anymore could You find out if that is true thx
테슬라fsf는 안전합니다
@@sya2546 accidents?
The phantom braking is real. As for accidents caused by the issue.....who knows....certainly not Sam.
Actually, phantom breaking is a direct result of the car's AI attempting to stop for perceived spirits which occasionally cross the road! Why do you ask? Well to get to the other side! Just kidding. Phantom breaking has been greatly reduced since the debut of FSD v12.
Paying cash would be crazy. Put the difference in a high grade bond.
Nope. Keep the existing car and invest the money.
@@robertfonovic3551 That’s a thought. 😀
you said Model Y will most likely become the most sold car in the world. Which one do you think will be the most sold?
Coupes and sedans and SUVs and Crossovers (and the like do not interest me to buy). Give me a utility van.
This smacks of desperation on Tesla’s part . The Fed rates are running at over 5%, Tesla are going to take a major financial hit. It suggests they are on the edge of panic trying to move product. It might be a good idea for consumers but for the company it’s a really bad idea.
Naw it's a sales strategy they want more market share
@@portfoliotalk8114 When companies start buying market share it never turns out well. They end up bleeding money. Musk seems to be thrashing around in desperation these days. Interest rates are high and it would appear they will be high for some time, offering finance at over 4% lower than the going rate is unsustainable even in the medium term.
There is a lot of more better options now to buy than this and Tesla Y design is already very old.
I would love to hear the debate between one percent interest and leasing. Which makes more financial sense for this particular model?
Easy 0.99 Purchase as you own the car in the end. With a lease Tesla owns the car at end of the term
낮은 금리로 할부로 지불할 수 있다는 것은 차 구매자들에게 매우 큰 혜택입니다. 그것에는 적어도 구매자는 논쟁할 여지가 없지요. 기업이 손해보는 것임. 소비자는 좋은 것
@@sya2546이분들이 이 글을 이해 할까요?
Morning mate
Don’t pay with cash or the 0.99% - lease it for 36 months and put your money elsewhere
임대는 차를 소유할 수 있는 것이 아닙니다. 할부는 자신의 차가 되는 것이고요.
내연차를 옹호하는 사람들은 테슬라를 어떻게든 공격하는군요. 댁은 평생 집도 임대해서 사는 것이 나은가요? 주택 모기지금리가 매우 싸다면 집을 사는 것도 괜찮습니다.
@@23chngeSay that to those leased at a fixed rate and fixed residual value before the price cuts and the interest hikes.
This is not the bottom price-wise, as long as Tesla does not solve FSD 100% within a short time, which might happen.
@@23chngetake a look at second hand Tesla values…. I feel sorry for anyone who purchased one cash. Money down a drain.
No shit can’t you tell there Up going down hill big time. Wait to see how cheap they get.
1% APR is a bait and switch if you live in Alaska. They'll let you order for the $250 order fee and then tell you they won't finance you unless you pick the car up in Seattle... screw you tesla I'm not interested in visiting that 3rd world s-hole for a car.
Easy fix, just summon your newly purchased Tesla to your place of residency.
@@aomurdock looking at the supercharger map... it wouldn't get very far once it hit the Canadian border. Guess the communists in canada don't like EVs.
Seriously, does that really happen? I just looked it up, it’s 2000 miles from Fairbanks to Seattle.😂
@@aomurdockThat will be available next year.
You are a nut
at .99% interest you might as well take out as long a loan as possible, assuming you're not craping that extra monthly money into lotery tickets. that low rate is, like you said, virtualy free money. you're pretty much given the opportunity to pay the least amount monthly with no detriment or caveats, assuming its not an adjustable rate. \
i do believe elon is going hard so that this upcoming Q2 earnings is explosive in multiple ways. god i pray his comp package is passed (the one he already fulfilled), it would be atrocious to lose him.
*edit: they're also probably doing this in anticipation of Juniper and obviously to spur short term demand
Tesla desperate for sales. Cash is short, can't even pay the interns.
FUD!
Sam I would appreciate it if you could use the word insane more often
Please stop crowing about Tesla USA, EU & Australian bargain prices. Zero% finance on top of £17k cheaper Model Y Performance in the USA than UK, £10k cheaper in Republic of Ireland than UK is just continuing to crap all over UK customers, despite low rate finance here. Very high depreciation of EV's just makes the rip-off even worse. Then, we can't even get RHD Model S or X. A LHD S or X Plaid on UK roads is a highly dangerous proposition. No wonder insurance costs are so high. I'll bet that when and if we ever get opportunity to order Cybertrucks in the UK, it will be LHD only and at similar, ridiculously high and unjustifiable premiums over US, EU, Australia etc. pricing. We love our 3rd & 4th Teslas, in many respects the best cars we have ever had - apart from that our Model X now needs very expensive suspension replacements yet again at only 40k miles and after again, ruining a perfectly good set of highly expensive tyres, needed drive shaft replacements at 19K miles plus £5+k of upgrades at our cost to make the car actually useable and never had the quoted range from new. We even got rid straight away of our new Model YLR from the 1st shipment into the UK, due to the harsh suspension and cabin resonance making us car sick but, still went on to buy a new Model Y Performance after suspension improvements had been made. We are clearly EV fans but, It makes it very hard to keep up enthusiasm for Tesla ownership in the UK.
테슬라 모델 3 하이랜드는 승차감이 매우 개선되어 출시 되었습니다. 앞으로 나오는 모델 y.s.x는 개선된 승차감으로 편안한 승차감을 가지게 될 것입니다
EVs are proven to be gadgets especially considering extremely high depreciation, extremely high costs of repairs and extremely expensive battery replacement when they are dead.
Are you a sadomasochistic?😅😅
@@georgiaguardian4696 One of our last combustion engine cars befire an electric car (which was triggered with mainly cold starts & short distance drives) leasts 70.000 miles until engine was death.
As well I did spent plenty of money to problems with catalysators and Exhaust systems and gear shifting in my life.
The difference to „the battery change“ is that those costs come in smaller bites.
But every time I wanted to drive a combustion engine more than 150.000 km it startet to get expensive pretty fast…
@ev.whyking This are things which Invompletely understand. Missing the HUD in my Model Y as well.
But if you want to buy an american car Tesla seems to be pretty good over all.
If you also think about a german BMW, Volkswagen or Mercedes there are pretty nice things. But they cost.
And China EV…let‘s say for me it would be questionable if my money should support china 😅
Title is wrong
Next up, bogof.
Nobody wants them.
lol "best selling car in the world 2023"
i guess let the entire globe know that no one wants them
@@apple1231230and the Toyota Corolla has been best-selling car for how many yrs ?
@@apple1231230 It's not the best selling car actually. That's just another lie.
Guess I'm a nobody!
Ngl I want another best selling suv in the world
Don't see deals like that on ICE cars for a reason... Nobody wants a car that depreciates 50% in 3 years...
Better not to buy any Tesla model. Buy a Corolla and ditch Musk.
Any kind of financing (unless it is 0%) for a liability is stupid. You are destined to be a debt slave for life if that is your attitude...
모든 할부는 빚의 노예니 모든 물건은 할부로 사면 안됩니까? 내연차도요? 누가 모든 금액을 한꺼번에 다 주고 차를 삽니까? 모기지도 은행에 대출내서 사는 것이면 빚의 노예입니다. 물론 집주인에게 임대료를 지불하는 것도 빚의 노예고요😂
차가 필요하면 사는 것이고 돈을 한꺼번에 지불하지 못하면 할부로 사는 것이죠 그런데 할부 금리가 매우 낮으면 그건 아주 이익이 있는 것이죠 한꺼번에 주고 사는 것보다 더 나아요.
0% apr is the real scam. Be careful
You didn’t finance your house?
Elon has potentially the most financed debt in the world. It’s unknown the exact number but believed to be tens of billions.
Debt at a reasonable rate is not stupid. I finance major purchases with debt if I can get around a 3% rate. You get greater average returns on the market.
@@oggyoggy1299 of course not, your house is a liability, not an asset. A rental property that generates cashflow, that you can finance, if you can guarantee a good occupation.