Sold the Foundation…now what do I do?

[mcm4ss]

I don’t even have a CT and disagree that CT’s are massively depreciating, at least not any worse than a conventional vehicle.

You sold at the peak of the depreciation curve for FS models. The second that Tesla began selling non FS models you ate the $20k to be a first adopter. Anyone who has a basic concept of Economics would have known that.

Further, the highest trim vehicles depreciate harder than mid and lower trim vehicles. That’s because what you get at the top is only incrementally better than the middle and bottom and you have a smaller pool of buyers willing to pay that premium. So it doesn’t surprise me that a used cyber beast would end up being on par priced with a dual motor in the used market

Generally speaking the cyber truck market appears to be stable now. Prices haven’t lowered in the last two months, much less when compared to its competitors.

Anyway, it seems like you made a decision that made you happy and relieve some stress and that’s worth something. You could probably get into a dual motor cyber truck if you miss it that much, I don’t see what other vehicle offers the value that the Tesla cyber truck does except for the new truck EV’s from GM or Ford if you’re not too concerned with charging speed and range.

got a few questions about this. I love my CT. No joke, it is amazing. But everything I do needs just a bit more range. I need an honest solid 375 miles. So I am thinking of a RST. since you are on here with one. Whats up? Want a CT? Wish you had or are you happy.

Sponsored

 

[VAF84]

got a few questions about this. I love my CT. No joke, it is amazing. But everything I do needs just a bit more range. I need an honest solid 375 miles. So I am thinking of a RST. since you are on here with one. Whats up? Want a CT? Wish you had or are you happy.

Tough question. Love everything about the GM except the tech. With the CT I love the tech and exterior durability, but less so design (not big on getting public attention although ironically I get tons of compliments from strangers on my Sierra).

Just yesterday I told a member on the Silverado forum that I’d lean towards the CT because he did not have range concerns (lives in Hawaii) if that means anything.

I have three kids and live in an area with lots of space and high speed limits, GM is the better fit.

They’re both great, but let’s just say that moving from 320mi range Lightning to the 440mi range Sierra felt like a weight lifted off my shoulders, it’s so freeing. So until CT gets more range or there’s a charger on every highway exit across the country, in my mind there’s only one manufacturer option and it’s GM.

Apples to apples range and price, I’d probably get the Tesla, the only hang up being that GM offers more colors and options (AT4, Denali, Elevation, Trailboss, LT, RST, etc.). I’m just waiting for Tesla to build the product I need to make the move.

Feel free to to DM for more specific questions.

 

[nicnguye]

Here’s a free lesson:

Invest in real estate or other appreciating, cash producing assets so you buy cars for FUN…

And use your investment entity to take title so the gov’t pays for ~40%.

That's EXACTLY what I do. I make money in real estate. I never sell my old vehicles. I donate them to charities. There are organizations out there that take used, functional vehicles for charity work.

 

[PungoteagueDave]

The other thing here is, with literally any thing or vehicle. Don’t bite off more than you can chew.

If you bought a cyber truck for $80,000, that’s a scary high number for you, and you financed so much that you have negative equity and we need to sell out cash you may not have just to sell it, don’t buy one.

Don’t buy anything where you’re sweating out the price and cost.

We can be having the same conversation here about a Corolla. If there exists a Corolla enthusiast forum somewhere, you can have a very similar thread. “I financed my whole $25,000 purchase. A year later it’s worth $18,000. I need to sell it and don’t have the $5,000 to cover my negative equity.”

answer there would be not to do that and buy a used one.

Yep, totally agree - car loans are for life’s financial losers - pay the man forever and come out with lower net worth - in almost every case. Anyone can buy reasonable, reliable transportation for cash - anything else is a luxury - an aspirational choice that is best saved for or purchased from cash flow.

My son is a USNA graduate - many young ensigns receive a $40-$50k bonus after a year or so, at 23 or 24 years old - and I’m amazed at how many of his classmates used that for a small down payment on a ‘Vette or high end pickup, and still have $1k or more monthly payments, with negative equity after a year or two. I blame bad parenting and the lack of personal finance education for the existence of payday loans, predatory auto lending, whole life insurance, and the entire crypto craze. TSLA valuations aren’t far from that list.

Sponsored