Driving a Tesla at Junior level?
I'm a junior level employee at a small REPE firm. My commute is about 150mi round trip for 3 days a week so I was wanting something more fuel efficient and solid self-driving capability for those long drives. So I'm considering getting the Tesla Model 3.
Everyone at my company drives pretty modest cars (Toyotas, Fords, etc.)... nothing fancy. Except the principal of the company drives a Model 3. So as a junior employee, would it sit well with my coworkers/bosses if I were to drive the same car as the head honcho? I was recently promoted to AVP as well, so it could be a sign of "getting too big for my britches". It also might hurt chances for a raise if I'm seen to be doing well enough to buy a new Tesla.
Nothing wrong with my current car (2018 Honda Civic), I just think it would help my quality of life to get a Tesla. What would your reaction be if you saw someone early in their career/junior to you driving a car like that?
Edit to add that no one at the junior level makes "Tesla" money, including myself. I'm economical, have savings, and my comp is not terribly low so I can swing it, but at face value my salary doesn't justify it.
I don’t know how much you make but you know that Camrys and accords are approaching $30k. You can get a used Tesla for the same price or less. And a new one with rebates gets you in that ballpark cost as well depending on your state.
You aren’t buying an s class Mercedes. If we are talking about a model 3, it’s a cool car that’s affordable for many.
Yeah I make like $120k all in in a MCOL city so I'm not struggling. I also know it's affordable which is why it makes sense financially. That said, there's the perception of luxury when we're talking about a Tesla. A lot of people think Teslas are $50k+ cars. That's really my worry.
Model 3 ain’t luxury. Head honcho is going way down market to be driving a model 3 instead of an S.
Nobody will care if you get a Model 3. If you showed up in a X Plaid, that would be a slightly different story (unless you are a trust fund kid and then it wouldn't matter to you anyways).
That said, are you sure that some of your coworkers don't have fun cars that they just leave them at home? Everyone I know (including me) with a fun car (McLaren, Ferrari, Lambo, Aston, etc) drive nice luxury cars (Porsches, Mercedes, Teslas, BMWs) to the office and leave the other stuff at home.
I have 2 fun cars right now: a 2018 Aston Martin Vanquish S and a 2023 911 Turbo S Cabrio
Some of my coworkers know I love cars and what I have in the garage, but it isn't common knowledge.
The unofficial car club at work includes 5 Ferraris, 2 Lambos, 2 Bentleys, and a McLaren. We just don't talk that much to other non-car people about it.
I'm head of AM for a debt fund. Most of the other car people are in the PE or Corporate Credit groups.
It really just comes down to how you spend your money. I have coworkers with multiple or massive vacation homes (Hamptons, Cape Cod, Park City, Aspen, etc), but drive Volvos and Lexuses. Or they live in brownstones in the upper east side or 4 bedrooms on the upper west side.
I have a more modest 1bd condo, keep a reasonable vacation house at the Jersey shore and drive between them in cars I love.
Dream cars, what do you do and do you need an analyst?
The exec level team probably have nice cars. I know one who has $100k Corvette. But the junior members at the firm are pretty underpaid (we're a pretty small company in a M/LCOL city). I make more money than 90% of the company and I'm still underpaid. Most coworkers have 1 car and it's a reliable economy car. The "nicest"/most luxury car in our lot is the aforementioned principal's Tesla Model 3. I worry about having a nicer car than my boss and my boss's boss, and having the same car as the principal...
The Model 3 is to 2023 as the bmw 3 series was in the late 90s/early 20s. At AVP it shouldn't be a problem to spend 30-40k on a car. Teachers drive Teslas now.
I wouldn't judge you for buying a Tesla because of it's perceived "fanciness," I'd judge the decision to buy an over-priced shitbox on wheels.
There are plenty of fuel efficient, comfortable vehicles to drive.
Honestly a Tesla is not fancy. It's definitely overpriced junk.
What's the best self-driving car besides a Tesla though...?
Tesla's aren't self driving.
https://cars.usnews.com/cars-trucks/advice/cars-that-are-almost-self-dr…
A Tesla model 3 is fancy now? Wtf? A model 3 is maybe one step above an entry level car. It's basically the same price as a camry. It's not fancy....
If you get a model X plaid that's a different story
We're not talking a $100k car here... once you're above Associate level I think it's perfectly acceptable to be driving something in the $50-$60k range.
I'd agree with you, but I'm underpaid compared to a lot of HCOL, MF associates. I'm not making $250k as an aso - I make $120k all-in and can only swing a new car because of my personal spending habits, not my salary. Does that info change your answer at all?
No - do you. If it was a Mercedes, BMW, Audi, etc. I would say hold off but its a base model Tesla. If you finance/lease, you are basically making up the difference in payments over a Civic in gas savings with a 150mi round trip.
How many minutes is the one way commute?
About 1 hour - all freeway basically.
While it's ultimately your personal choice, it's worth considering how your colleagues and bosses might perceive you driving the same car as the principal. If you're concerned about this, you could explore other options that align with the modest cars typically seen at your company. However, if the Tesla Model 3 would significantly improve your quality of life and you can comfortably afford it, it could still be a viable choice. Just be mindful of how your decision may be perceived and consider discussing it with a trusted mentor or colleague for their insights. Prioritize your well-being and financial stability while being aware of workplace dynamics.
can't I dress nice if others dress like homeless? if they have no taste or have no money because of how they manage their money (despite getting the same salary), do I need to lower my standards to not incomodate them? fuck no
I always found it funny how all your life you kill yourself at work and then you can't even allow yourself to buy a treat because of how people will judge you. Social pressure really put some of you in an invisible prison.
You can get a Tesla M3 for less than 30k in some states after rebates. There’s hardly a premium on it vs Camrys and civics also approaching the same price or above new. A Tesla M3 is a no brainer for anyone in the price range who has charging infrastructure around them and is able to charge at home.
If you get a Tesla you’ll want to get it new due to the warranty alone. The savings buying used isn’t much and the prospect of not having things covered under warranty is huge.
Hi, this is super helpful so thank you! I was considering buying used but now will definitely go new.
I live in California. Besides the $7,500 tax credit, do you know of any other rebates I could take advantage of to lower my cost? Also, do you have any thoughts on the new rules for the tax credit that gives the rebate through the deaalership starting in 2024? Worth waiting for that?
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