Purchase Price and Insurance Sticker Shock

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So, my excitement for the CT has been renewed since the delivery event but I have doubts that I will be able to afford my CT when it is produced.

When I reserved my Dual-motor CT I did so because comparable ICE half-ton trucks were close to $55k+. The CT with dual-motors and stainless body at $50k was enough to earn my reservation. The stainless body is especially appealing owing to the fact that my '08 Silverado was rusting off the frame.
If I recall new car interest rates were at approximately 3.5%. $50k + TTL in Ohio would put me up to around $54k borrowed resulting in a payment of around $1k a month for 60 months.

With the price increase to $69k and interest now at around 6.5% I'm now looking at a monthly payment of about $1,350 a month. I haven't included any incentives because they may or may not be available when my CT is produced. It's likely that rates won't stay the same and the figures I used are estimates of what they were at the time.

If a battery wall and home charger were heavily incentivized with the purchase of the CT it might make the revised price easier to swallow.

I haven't even quoted insurance cost for a driver with a clean record for which I've seen estimates of $400 a month for comprehensive.

I may end up with a '24 Tacoma Hybrid instead of the CT.

Anyone else in the same boat for similar reasons?
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I think a huge chunk of actual buyers are in this boat. The 30k price increase is crazy. I'm pretty sure Elon said he wanted to compete with the gas cars but they placed their prices firmly in the EV truck space.

It still is an overall good value in that space when compared to the competition and the tax incentives will likely apply to the CT (for dual motor at least) l, plus it becomes a point of sale credit which really makes the truck 72400. I'm lucky because I'm in CO, where we get a good state incentives. That's the only reason I can even consider it anymore.

I'm not going to get a rwd.

But it's time to really knuckle down and get my money right.

I'm graduating college with my BS this month so hopefully I can convince my bosses to give me a fat raise. But seeing as I just got promoted over last summer it may be a no go lol.

The two Tesla dream for our household may be in the rearview mirror for a while. I'm likely going to need to sell my Y or pass on CT.

Still going through my grief stages lol 😢
 
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OP

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Correction, $79,990.

The other price comes from the bogus "potential savings" marketing gimmick.
Nuts! That makes it even harder to swallow!
 


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I see the Rivian R1T as a direct competitor to the AWD Cybertruck.

The Dual Motor R1T with the large battery runs around $80k as well.

I know which one I would put in my driveway.
I went to price the Dual Motor R1T yesterday but there are a bunch of add-ans you need to buy to make it comparable that pushes the price well above $80K, even then the there is a bunch of functionality that is just plain missing.

And is it true you can't even get a motorized, lockable tonneau cover? All I could see were a bunch of metal panels that you had to manually slide out of the tracks and put into a soft-case for storage. Seriously? I'm not going to do that. And it was even an extra cost?

The larger bed of the Cybertruck and the lockable vault are key features for me, ones I'm not willing to do without. The truth is, I wish the Cybertruck bed was a true 6.5 feet long. I'll make do with a bed shorter than I want, but I can't see going to the little bitty bed of the Rivian. Even the Ford Lightning bed is only 5.5 feet long, about the same as the Cybertruck's 6 foot bed once you take into account that it's only 6 feet long at the bottom of the bed. As soon as I stack something in there about 18" tall, it's closer to the Lightning's 5.5 foot long bed.

People tend to forget how good Tesla software is. I think going to a Rivian, or especially a Ford, would be a real letdown. I can live with a lot of things that aren't perfect, but I think good software is under-rated. I love the way Tesla software gets the job done in a manner that doesn't tempt me to use other apps.
 

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I have watched several road tests of the Cyber Truck, and with each, I become more convinced that Tesla has put so much technology into this truck to the point that it has driven the price up due to all the features. These are way more than the competitors. Drive by wire, electric bed cover, incredible turn-to-lock steering ratio, FSD, front camera, and many more.
 

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We're all in sticker shock over the $80k dual motor, which I'll have to "settle" for vs the tri-motor. I guess one positive here is 4 years ago at the unveil the range increased with additional motors. Now the dual motor has better range than the tri, so there's that.

But I want FSD, and I think I'm locked in (assume they still honor this) at $7k. So my dual motor is almost $90k now.

We have home solar, and have been talking about getting a power wall, both for when the grid goes down, but also (no, I'm not a doomsdayer) in case there are more widespread power interruptions. For about the same price as the range extender at 40-50kwh, 2 powerwalls offer under 30kwh. On paper seems a better deal, so add $16 for the range extender.

My dual motor Cybertruck now costs $105,000 before any mods
 


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Don't forget the folding solar wings that Tesla will be offering in the future. It supposedly adds around 40 miles of range.
 

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So, my excitement for the CT has been renewed since the delivery event but I have doubts that I will be able to afford my CT when it is produced.

When I reserved my Dual-motor CT I did so because comparable ICE half-ton trucks were close to $55k+. The CT with dual-motors and stainless body at $50k was enough to earn my reservation. The stainless body is especially appealing owing to the fact that my '08 Silverado was rusting off the frame.
If I recall new car interest rates were at approximately 3.5%. $50k + TTL in Ohio would put me up to around $54k borrowed resulting in a payment of around $1k a month for 60 months.

With the price increase to $69k and interest now at around 6.5% I'm now looking at a monthly payment of about $1,350 a month. I haven't included any incentives because they may or may not be available when my CT is produced. It's likely that rates won't stay the same and the figures I used are estimates of what they were at the time.

If a battery wall and home charger were heavily incentivized with the purchase of the CT it might make the revised price easier to swallow.

I haven't even quoted insurance cost for a driver with a clean record for which I've seen estimates of $400 a month for comprehensive.

I may end up with a '24 Tacoma Hybrid instead of the CT.

Anyone else in the same boat for similar reasons?
It is surely a dilemma for many people.

AND Elon warned during the last Earnings Call to investors that affordability was going to be a problem. He was accurate.

Don't forget tax. I live in Virginia and they charge both a Sales Tax on purchase, and an annual Personal Property Tax on the truck.

So at purchase you will pay about $3100 in sales tax, and then every year after you will pay about $3,400 as Personal Property Tax (for owning it). Nice huh?
 

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Don't forget the folding solar wings that Tesla will be offering in the future. It supposedly adds around 40 miles of range.
This won't happen. Those "wings" are structural now.

They did announce a solar "cover", whatever that means ... assuming some kind of throw over blanket that will trickle charge the truck ...
 

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Anyone else in the same boat for similar reasons?
Yes. Although I had expected the price to be as bad as 90K, that was for the tri motor with 500 miles range.

So 80K is a shocker, but certainly the rest of the truck specs I am happy with. I don't need or want the tri-motor speeds, but just wanted the 500 miles range.

Do I need it? Not really. Trying to level imaginary "cool lifestyle" dreams of driving throughout remote national parks not needing to charge, with reality (because I'm probably too old to be doing that on a regular basis anyway!).

Fortunately, I had saved up the cash to pay in full even at the higher price, and figuring in trade-in (or resale) of my Model 3, I'm probably out just 45K of that money. I also invested all that cash in TSLA, and my main hope is that I'll be "above water" on that before my order comes up (yes, I did manage to buy near the high and ended up having to dollar cost average when it dropped).

So, I can accept the purchase price with a YOLO justification (and switching to dual motor only), but yes, the killer is going to be monthly insurance costs. Hate throwing money away like that, and even $300/mo would be hard to swallow I think (Model 3 is $95/mo)

I am encouraged that we recently quoted insurance for a Model X just to see what that would cost (thinking about easy access to the back seat for my aging mother), and it was only like 120/mo, and since it's similarly priced to the CT, maybe they would be close???

So if insurance is a shock and I can't deal with it, we'll be onto backup plan A: Trade both Model 3's for a Y with a trailer hitch, and I get a new trailer for large item trips. heck, I think uHaul will rent those too......

So, getting ready to sell one Model 3 for now and see how we like having just one vehicle (ignoring all the eBikes and the Harley in the garage).
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