Got a great return offer after my internship, 118/220/100. In addition I have $25k saved up and invested (with $11k of that in Roth IRA, $6k in emergency fund). $22k in student loans but they are all subsidized and low interest, so don't have to begin paying until after I start working. I don't have a car, but would like one after I graduate for the potential commute, or at least for road tripping and exploring the area. I would prefer an electric vehicle. Would it be a bad idea to finance a model 3 with the starting bonus when I graduate or should I get something cheaper and save my money? This is a big decision for me so thanks for the input :)
Sorry to say this, but $25k is almost ... nothing. Also you are in debt. If I were you I would buy a used Corolla.
In the grand scheme of things I agree $25k isn't much - I'm still proud of it though given I'm a college student and have payed for my entire education :) I'll focus on paying back my debt first
You haven't "paid for your entire education" as long as you have loans outstanding.
Get a Mercedes
Get model y
EV is not the best for road tripping lol
Besides a long range Tesla, you're right about that. May have to consider a hybrid or something else then
I strongly disagree. I drive down to SoCal from the bay regularly. It’s not much longer. By the time you run down a charge, you’re ready to stretch your legs. With a super charger you can get pretty close to topped in 25-30min which is a good amount of time to take a dump and eat.
Really, you are not in a position to buy a new $40k+ car. Maybe next year but not now. If you really needed something, get a used Corolla or civic to begin with.
Why cheap man? Get a Bentley. At least a Ferrari
Buy it
Go for it. Everyone is going to tell you to be practical and save money. Housing in the valley is pretty costly and insurance for Tesla will be pretty high. But if you still want it get a model 3 or wait for model Y.
Can I get a reference 😭 I just wanna intern
You are in debt, you should not be entertaining the idea of buying anything but a cheap used car. Pay off the debt first!
Frugality?
Good point - with my starting bonus I could pay off debt and buy a Tesla with cash without even dipping into my salary or savings - if I payed the debt first would you still recommend against it?