Cybertruck Financing - Current Tesla owners chime in (please)

James Clayton

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For the middle class American that thinks they CAN'T. Erase that word (can't) from your vocabulary. Michael Jordan was cut from his sophomore basketball team, Walt Disney was fired from a local newspaper for not being creative, and the list goes on.

Paying cash for vehicles is the only way to go. START by getting out of debt. Have a budget, stick to it, and save up for things you want.
This includes a house, a car, a education, and more. You CAN do it!

A CT was not in the cards for me. However, I need a truck to tow my boat that also is paid for. I need it to last, and I want the best bang for my buck. I liked EVs and wished a truck was made. Elon Musk plans for the future. Take note of that.

I am saving up for my future house, I have an on going vehicle fund, I have a plan for my kids to go to college, and my retirement has a desired outcome. My wife and I work very hard. I read every book I can get my hands on about financial planning and more. PLAN for your future.

Different strokes for different folks. Millionaires pay cash for their vehicles and they rarely buy new vehicles off the lot. <-(google this)
I might keep my CT order I might not. I have plenty of time to save up for it. Paying cash for vehicles is the only way to go.

Read, find out for yourself, and be radical with discipline. Reaching your financial goals (millionaire or billionaire) is not a mistake.

Sorry for the long post. I mean no disrespect. May the odds be in your favor.
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cybertruck808

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Think carefully about 5 or 6 year car loans. 1. They have your title. 2. Payment on a $ 50 K loan is not a breeze. 3. However, saving for it makes it yours - immediately. I'm saving cash for mine cause it won't be built likely till 2022 or 2023...
I agree. When I bought my Jeep, I took out a career starter loan from USAA (low interest rate) so that I could use a non-car loan to "pay" down the bill and secure title for myself. I paid cash for the balance. I'll likely do something similar for my cybertruck, which will also come in handy when PCSing as you have to jump through extra hoops to ship your vehicle if you don't have title to the vehicle.
 

KingBee74

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I’m an Independent Financial Advisor. The best scenario is to always pay cash for everything. This is not possible for most folks on home ownership, yet debt on a smallish, appreciating home is good debt. Debt on -any- vehicle that depreciates (will CT?: certainly it must) unless used in a business daily is not good debt. I will actually use mine in my business as I will commute between distant remote offices I have. Nonetheless I have the cash at this stage and will pay cash. If I didn’t, I would save the cash. Being debt free at my age (59) should be a financial goal for all, no matter where you start out. The CT I receive at age 62 or 63 might last me virtually the rest of my life and that’s exciting. My 2013 Ford C-Max Hybrid with 148K miles is tasked to get me to CT’s arrival, probably have 225K miles on the Cmax by then. BTW, I like the strategy to put money into TSLA now for purchase of CT when available.
I started saving for a Tesla by purchasing Tesla stock two years ago. I do not plan to pay cash by selling stock either. My stock has been going up a whole lot faster than a loan interest.
 

HaulingAss

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From my experience with 2 Model S, I think that the best way to buy a Tesla is by leasing with the option to give it back at the end.
Assuming a 5-year lease, you don't know how much the technology is leaping forward in 5 years. For Tesla, 5 years are like 30 years for legacy car companies. At the end, you can keep it or, if the difference with a new model is too big, you don't have to straggle with an underpriced selling.
In hindsight, 4 year old Model 3's are retaining some of the best values in the industry! The way things are going, buying Model 3's outright is looking like a much better deal and I expect the same scenario to play out for the Model Y and the Cybertruck.
 

ajdelange

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I started saving for a Tesla by purchasing Tesla stock two years ago. I do not plan to pay cash by selling stock either. My stock has been going up a whole lot faster than a loan interest.
That's great. How much has it gone up this year?
 


ajdelange

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It closed at $729 on the first day of trading this year. It closed today at $643. Can you tell me how you get 118% growth out of those numbers?
 

Throwcomputer

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It closed at $729 on the first day of trading this year. It closed today at $643. Can you tell me how you get 118% growth out of those numbers?
Because his chart is including before the first day of trading this year.. About 5 months before the first day of this year. He clearly showed a screenshot of the 1yr performance of the stock, not the ytd performance. As denoted by two different ui clues.. 1y selection below the graph.. and "past year" right next to the percentage referenced.
 

ajdelange

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Weird. I didn't get the screen shot first time I looked. Now it's there.

I hope it is understood that the message I am trying to get across is that while small fortunes have been made by small investors on TSLA in the past those glory days are, in all liklihood, past never to return. Yes, I expect TSLA will reach $1000 to $2000 a share eventually but I don't expect to be doubling my money every year going forward.
 

Throwcomputer

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Weird. I didn't get the screen shot first time I looked. Now it's there.

I hope it is understood that the message I am trying to get across is that while small fortunes have been made by small investors on TSLA in the past those glory days are, in all liklihood, past never to return. Yes, I expect TSLA will reach $1000 to $2000 a share eventually but I don't expect to be doubling my money every year going forward.
It's long gone for most stocks. Unless you forsee another economy halting pandemic in the next few years. Those who could afford to make money on stocks made unheard of profits starting March 11 2020 to now. Thinking those returns will continue on new investments purchased now into the future is not really understanding how it works.

Tesla Cybertruck Cybertruck Financing - Current Tesla owners chime in (please) Screen-Shot-2017-12-10-at-4.42.55-PM-650x391
 


Ogre

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I think @ajdelange has a good point, just maybe not the best way of expressing it.

Taking out a loan with the expectation of being able to pay it off with stock returns is not good way of running your finances. If the stock turns upside-down, you end up with a loan you can't afford and have to deal with the loss of your stock.

Personally, I keep my expenses and investments separate... and since I think of TSLA as a bit high risk, it's not a big percentage of my investment portfolio.
 

Ogre

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TSLA and bearish investors.

See, issue with Bears and Tesla is real.
There is a difference between being bullish and blind faith.

I’m Bullish on Tesla. But it’s a long term investment, if it drops to $400 a share, I’m not going to be worried about making payments on my car or home.
 

John K

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There is a difference between being bullish and blind faith.

I’m Bullish on Tesla. But it’s a long term investment, if it drops to $400 a share, I’m not going to be worried about making payments on my car or home.
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Tesla Cybertruck Cybertruck Financing - Current Tesla owners chime in (please) A223F8B3-7C92-454B-9487-25A58C2F4065
 
 




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