Copping a model 3
Hi all, I am going to be starting my analyst stint in LA/OC where driving is the norm to work. I grew up in Manhattan so have never owned my own car before. Salary is same as NYC, 85k which amounts to roughly 5k after taxes. While the obvious and money saving choice is to cop a cheaper used car, one of my roommates just bought a used tesla model 3 (highest trim) for roughly 36k and it got me thinking about the feasibility of buying a tesla. They seem to hold their value remarkably well even as used cars have significant resale value. Given gas prices in the area, it seems like it might be very useful to have an electric car so gas savings will be significant. I fully intend to move back to NYC within 2-3 years as I grew up there and would not want to raise my kids anywhere else (also do not need a car at all there so this is basically the only point in my life I would buy/regularly use a car) so the resale value looks very attractive there. Given these circumstances, would it be a sensible decision to buy a tesla in my situation. I currently doordash/uber at college and would definitely continue uber in the LA area regardless of the vehicle.
add on that I will be at a BB.
also borrowing my parents vehicle for this semester which is how I am able to doordash.
Yeah, get the Tesla.
You might want to look for a black on black if you want to drive Uber Black.
"Uber Black vehicles must be in mint condition. They must also, as the name implies, have both a black interior and exterior. The interior must be leather or vegan leather."
do you think it makes financial/logical sense. I dont see my rent being above 1200-1300 (with multiple roommates). Taxwise, not including the bonus around 55k (Cali and NYC taxes double whammy) which works out to a little under 5k a month.
You can definitely craft an argument that the Model 3 will make financial sense (even if there are some things you're being intellectually dishonest with yourself about to justify the purchase because you want it). For me, the greatest financial boon of the Model 3 has been the free charging I get. I live right next door to a commercial garage that has 2 hours of free charging (so I get about 20% charge or about 53 miles) and when my place of work re-opens there is free EV charging. In 9 weeks, I've spent $22 or so on fuel (I've had to hit a supercharger some). My buddy has put 95,000 or so miles on his Model 3 and asserted to me he had spent $160 on maintenance, which is ridiculous.
On the other hand, insurance on a $36k used Tesla is gonna run you upwards of $100/month. The other x-factor is depreciation. With makes and models with long histories, such as Toyota Camry, it's gonna be a lot easier to estimate your depreciation. It's hard to say if a used $36k Model 3 is going to further depreciate $15k in the next 3 years or $5k. It's a real headscratcher.
I love seeing fancy cars with Uber and Lyft stickers on the back. Close second is the 10-year-old Maserati with a Baby on Board sticker.
I'm a Model 3 owner. The operating cost (maintenance and fuel) is stupid low and depreciation has historically been abnormally low. I do wonder, however, how much of that low depreciation is a function of limited supply, and I wonder what is going to happen in the next few years as Tesla ramps up production. You will have a lot more supply of used Teslas.
Yeah that is definately also the case. Also an interesting strategy discussion for a Tesla as a big part of their hype is how limited they are right now which has boosted their brand.
Go check out what 95% of other Tesla owners look like and then reassess your desire to be a part of that group...
Taycan or bust
Haha, in fairness to this point, I do have blue hair.
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