How are you planning to pay ... cash, lease, loan?

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mlhartley

mlhartley

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mlhartley

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mlhartley

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AndrewB

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Been saving my money and plan to pay cash. Plan. The pandemic has helped me save a lot more because you can't go anywhere or do anything. Now if my wife and daughters will just help out by brushing their teeth better. I've already put two of my dentist's kids through university.
I hope you have been "saving" your money in stocks and not just a bank.
I had initially planned to pay cash from my TSLA stocks, but then I looked at the numbers.
For a rough estimate:
$80K at a min 10% growth in stocks (will be much higher than this) will get me $8k the first year.
A 5 year loan at 5% would cost $10k over 5 years, so only $2k/year. If I just sell the stocks monthly to make the payment I will come out much further ahead than paying cash.
 


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I hope you have been "saving" your money in stocks and not just a bank.
I hear that a lot on these forums, and while I generally agree I never see anyone concede that everyone has a different risk profile and sometimes stocks are simply not an option given someone's needs. The same goes for bonds, bond funds, index funds, etc.

Not trying to single you out, but every thread this suggestion is made several times (buy TSLA) and I fear there are people who think it is absolute truth and not a more difficult, nuanced decision.
 

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I'm a ward of the state (all of my income is from SS and VA) so I move a few hundred bucks a month from checking to savings for what will hopefully be a big down payment and I'll finance the rest. I paid off all the ICE vehicles we have and plan on driving my little Nissan van until my CT is ready. I'm pretty far down the list so maybe by the time my CT is ready I'll have ten grand or better for the down payment.
 

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When I "Insurance Totaled" my Kia Sportage, we fortunately had three cars for a two adult household...
So I invested that insurance check into TSLA stock.

As a result:
**I plan to finance 1/3rd of a dual motor CT (with FSD) and pay for 2/3rds with some TSLA stock.**

(The remaing TSLA stock will be kept as long as possible.)
 

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I want to pay cash, but I don't want to withdraw money out of my retirement savings. Would I be violating site rules to post a link to my Etsy account? I've created some Tesla coasters, maple on walnut inlay (Cybertruck version in the design stage). I would need to sell 3,000 sets to raise enough cash. :D

Tesla Inspired Coasters.jpg
The number of sets required depends on when (or if) you ordered the FSD of course, and whether or not you sell them all at full retail price or manage to sell in a single wholesale transaction. You could always sell "4 for the price of 3" or something like that, but then you may have to manufacture additional sets or raise the price incrementally. That is always an option. Offering different tire or rim packages could always enhance revenue since they are wheel-shaped. There are lots of options available at this stage of the game for you.
Ah.... just teasing, but paying cash is definitely the way to go. I move big chunks from one account to another every month and use a "piggy bank" too. The change I get from a purchase with a $100 or $20 bill goes straight into the Tesla piggy bank. Change too. It adds up. That way I am constantly moving money from my main account to my Tesla account and never missing it, everyday. If I get there and have a significant shortfall I'll borrow, but it will be less of a loan than it would have been otherwise.
 
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mlhartley

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I had to create a savings thermometer to track my savings so I can pay cash.
Tesla Cybertruck How are you planning to pay ... cash, lease, loan? 20200127_200611
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