Financing rate - Should I wait?

[Johnelrod12]

We have a lawn care company but have a small radius for travel. (10-15 miles). Over 200 yards a month. Our F150 was having issues. Placed a new order for FS on Monday August 12th, assigned a VIN the next day. Delivery scheduled for Thursday Aug 15th. Our 2007 F150 got fixed today. Aug 14th. Replaced coils and spark plugs. After looking at the interest rate, I’m finding it hard to justify the monthly payment. Almost our mortgage payment. TD Bank through Tesla Financing. 84 months, 7.94%. Monthly payment $1,600. Still have the order from 5 years ago. If truck craps out tomorrow I will go pick it up but really wanting to wait on Base version. Help me decide please. Any suggestions will be appreciated.

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[PBarré]

I think you answered your own question: “after finding out the interest rate, I’m finding it hard to make the monthly payment. Almost our mortgage payment”. You would be better off saving the $20K for the non-FS CT and buy yourself a used truck for work that you can sell once your VIN number is pulled.

 

[Art138]

wow you‘re working the finance on the edge…..one day before scheduled pickup. It appears you need more time to put your finances into perspective. Don’t worry about the truck they will assign the vin to the next person in line. I would position yourself for a non-Foundation series next year.

 

[Johnelrod12]

We have $20k we can put down but still the payment would be $1,400.

I think you answered your own question: “after finding out the interest rate, I’m finding it hard to make the monthly payment. Almost our mortgage payment”. You would be better off saving the $20K for the non-FS CT and buy yourself a used truck for work that you can sell once your VIN number is pulled.

 

[Johnelrod12]

I shouldn’t have said hard to make the payment, more like hard to justify making the payment.

I think you answered your own question: “after finding out the interest rate, I’m finding it hard to make the monthly payment. Almost our mortgage payment”. You would be better off saving the $20K for the non-FS CT and buy yourself a used truck for work that you can sell once your VIN number is pulled.

 

[GFleck]

Honestly, my opinion, sounds like you should wait. I don't regret pulling the trigger few months ago but if I hadn't and was deciding today, I'd probably wait and see what non FS options are.

 

[Johnelrod12]

I like your answer. I feel like we are all so close to seeing the end of Foundation series production. I don’t necessarily care about the extras, we spend over $500 a month in fuel just for the truck (maintenance cost can also be added) and will be trading in another vehicle so we can easily make it work but just trying to maximize profit margins. I guess I was testing the waters and got hit in the face with a fire hose. Didn’t expect the quick turn around.

Honestly, my opinion, sounds like you should wait. I don't regret pulling the trigger few months ago but if I hadn't and was deciding today, I'd probably wait and see what non FS options are.

 

[PBarré]

I shouldn’t have said hard to make the payment, more like hard to justify making the payment.

When your payment on a depreciating asset (the FS CT) is the same as your appreciating asset, it’s time for sober second thought, which is exactly what you are doing here. You’re headed in the right direction!

 

[DrDefore]

We have a lawn care company but have a small radius for travel. (10-15 miles). Over 200 yards a month. Our F150 was having issues. Placed a new order for FS on Monday August 12th, assigned a VIN the next day. Delivery scheduled for Thursday Aug 15th. Our 2007 F150 got fixed today. Aug 14th. Replaced coils and spark plugs. After looking at the interest rate, I’m finding it hard to justify the monthly payment. Almost our mortgage payment. TD Bank through Tesla Financing. 84 months, 7.94%. Monthly payment $1,600. Still have the order from 5 years ago. If truck craps out tomorrow I will go pick it up but really wanting to wait on Base version. Help me decide please. Any suggestions will be appreciated.
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[Woodrick]

We have a lawn care company but have a small radius for travel. (10-15 miles). Over 200 yards a month. Our F150 was having issues. Placed a new order for FS on Monday August 12th, assigned a VIN the next day. Delivery scheduled for Thursday Aug 15th. Our 2007 F150 got fixed today. Aug 14th. Replaced coils and spark plugs. After looking at the interest rate, I’m finding it hard to justify the monthly payment. Almost our mortgage payment. TD Bank through Tesla Financing. 84 months, 7.94%. Monthly payment $1,600. Still have the order from 5 years ago. If truck craps out tomorrow I will go pick it up but really wanting to wait on Base version. Help me decide please. Any suggestions will be appreciated.

As a business, you need to look at the feasibility of it financially.
As a personal purchase, that's a completely different call.

 

[mahdir35]

We have a lawn care company but have a small radius for travel. (10-15 miles). Over 200 yards a month. Our F150 was having issues. Placed a new order for FS on Monday August 12th, assigned a VIN the next day. Delivery scheduled for Thursday Aug 15th. Our 2007 F150 got fixed today. Aug 14th. Replaced coils and spark plugs. After looking at the interest rate, I’m finding it hard to justify the monthly payment. Almost our mortgage payment. TD Bank through Tesla Financing. 84 months, 7.94%. Monthly payment $1,600. Still have the order from 5 years ago. If truck craps out tomorrow I will go pick it up but really wanting to wait on Base version. Help me decide please. Any suggestions will be appreciated.

If you don’t mind me asking…where are you located? I’m in San Diego & I placed my order on Aug 6, white AWD with AT tires & still no VIN & you got one the next day?! I thought Cal was getting them the quickest?!

 

[Johnelrod12]

Close by Sarasota, FL.
Pick up is at St Pete, FL.
Happened real quick.

If you don’t mind me asking…where are you located? I’m in San Diego & I placed my order on Aug 6, white AWD with AT tires & still no VIN & you got one the next day?! I thought Cal was getting them the quickest?!

 

[mahdir35]

Close by Sarasota, FL.
Pick up is at St Pete, FL.
Happened real quick.

There is definitely no rhyme or reason for why some come quick & others don’t, smh

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