Should I buy a tesla

Nvidia uLwD81
Jun 18 56 Comments

I recently started working. I don't have a lot of loans (scholarship helped me). I have loved Tesla's for a long time and from my salary I "feel" I can afford a model 3. Please advise if I should buy a model 3 or go with some standard long lasting (Camry, Mazda) 20-25k car as my first car.

Base: 135k
Signon: 25k + 25k
RSU: 100K over 4 years

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TOP 56 Comments
  • SAP ppal
    Rather buy Tesla stock worth $35k instead of a Model 3. You will thank yourself later not rushing to buying a fancy car straight out of college and seeing that $35k worth Tesla stock grow in the next 5 years. Bought a BMW 328i right after graduation and sold it after 4 years of owning as it became a burden for me rather than a comfort.
    Jun 18 5
    • New / Eng PQQw63
      This
      Jun 18
    • Google / Eng moneyfirst
      That TSLA stock might as well head to $0, don't buy the hype. Buy a cheap reliable second hand car and VTI with the change
      Jun 18
    • This right here. Dont make the same mistake as me
      Jun 18
    • Nvidia uLwD81
      OP
      That's some great experience based advice. I have two follow-up questions.
      1. What should be the budget for the car?
      2. What is the right time to buy a new "fancy" car?
      Jun 18
    • SAP ppal
      1. It really depends. I would suggest a Certified pre owner Toyota Camry or Toyota Prius or Honda Civic for about $15k-$20k.
      2. Right time to buy a fancy car is when the total price of the car is part of the returns you get on your investments. It’s surplus money you get as a part of secondary income and not primary income like base salary or RSUs vesting or annual bonus.
      Jun 18
  • New / Eng PQQw63
    Focus your capital on acquiring assets, not depreciating liabilities.

    Thanks me later.
    Jun 18 4
    • This
      Jun 18
    • E*Trade / Finance cbEV72
      According to Elon Musk model fits the bill
      Jun 18
    • Cars are assets, not liabilities. They are depreciating assets.
      Jun 18
    • E*Trade / Finance cbEV72
      Elon Musk says his cars are appreciating. I treat cars as expenses, not assets. The only time a car is an asset is when you use it for business
      Jun 18
  • Booking.com kpol8bnt
    No.
    Jun 18 7
    • VMware slak1ng
      He is talking about model 3. Which after tax incentives costs around 40k. Definitely doable on a 135k salary. The issue op should be worrying about is charging the EV. Apartments rarely have charging stations, and all companies don't (rather can't) provide free EV charging station.
      Jun 18
    • Microsoft weirvhtd
      Even worse..
      If you follow YouTube channels like the Fast Car Lane, you will understand how unreliable and pain in the butt model 3s are when something goes wrong
      Jun 18
    • Apple i*
      I think you should not buy model 3 if you are civic range buyer, if you are looking to buy new accord/Camry or any German car, then definitely model 3 is much better choice ... looking at the tax credit , carpool lane access and gas prices alone, model 3 becomes an obvious choice
      Jun 18
    • Microsoft weirvhtd
      In this specific case, the buyer is most certainly a civic range buyer (new grad, new job)
      Jun 18
    • Tableau
      Tyh257

      Tableau

      PRE
      Amazon
      Tyh257more
      Debating whether to buy a mode 3 or a S. Model 3 is good but small and looks cheaply made. model S was just amazing to drive.
      Jun 18
  • Oracle safralions
    Pay off all your loans first. You have lived your life without Tesla why burden yourself. Aim for 0 loans and a put a huge % of your salary into diverse funds then you can retire early and buy a Ferrari.
    Jun 18 8
    • Microsoft weirvhtd
      This is stupid advice.
      Why do mortgage companies give out mortgages instead of buying index funds?
      Everything is rosy when the markets keep going up.. If you want a sustainable model, leverages are a no go..
      Jun 18
    • E*Trade / Finance cbEV72
      Mortgage companies themselves are leveraged to the bone if you didn’t notice. Name me one that is not, and I’ll send you the 💐
      Jun 18
    • Microsoft weirvhtd
      Well because they can afford to.
      Personal finance does not work out the same way.
      Jun 18
    • E*Trade / Finance cbEV72
      It depends. I’m not going to payoff my mortgage. Rate is low, and I’d rather invest the cash in other classes
      Jun 18
    • Microsoft weirvhtd
      Yes that's a risk you are willing to take as long as you have a plan B (eg, you make losses and you are somehow able to okay back the mortgage).. on the other hand if your plan b is as stupid as sell your house and become homeless, its just not worth it
      Jun 18
  • Dave Ramsey recommendation: pay off all debt, 3-6 month emergency fund, potentially buy a house with 20% down, only own up 50% of your yearly take home pay in things that go down in value. Sound like you should just pay down debt first and have more cash before you finance a Tesla
    Jun 18 2
    • Finale Inventory / Eng huHG50
      Dave Ramsey's advice is for people who are bad at managing their money. Sometimes it doesn't make sense to pay down debt faster(like if it's low interest). He also thinks all credit cards are bad because his target audience isn't smart enough to just use it like a debit card.
      Jun 18
    • Nvidia uLwD81
      OP
      I will look into more of his advice. Thanks for pointing it out
      Jun 18
  • Apple / Eng gtUh6$
    Buy a MacPro, thank me later
    Jun 18 1
  • DigitalOcean 447gd
    buy a used GTI, same price as the camry/mazda but way more fun, comfy and practical
    Jun 18 2
    • Nvidia uLwD81
      OP
      So you're telling me buying a fancy used car around 20k makes more sense than a Tesla?
      Jun 18
    • DigitalOcean 447gd
      yes, is this controversial? only suckers buy new cars
      Jun 19
  • Pay down your loans first. You can’t afford a Model 3 with this salary.
    Jun 18 1
  • Cisco kp33
    Recent grads are now making 135k base??
    Jun 18 1
    • Reliable Software / Eng :)(:
      Is it more or less
      Jun 18
  • Salesforce Salesforc
    Buy it if you can afford that extra $800 deduction on your paycheck every month. This is in addition to the down payment you would put ($2500 is the minimum I believe).

    If you decide to buy, dm me for a referral.
    Jun 18 1
    • Nvidia uLwD81
      OP
      For me at this point 800 seems manageable. But I chose to turn to the blind audience to know if my feelings are correct or am I just being too over confident.
      Jun 18
  • eBay / Other ebabe
    Don’t start your career with debt and an asset that loses money. Start saving and investing now. I can afford to buy a Ferrari now with cash but don’t even care to, and just keep my cheap dependable Toyota.

    Spending is a vortex that will suck you in. First it’s a car, next it’s a nicer apartment. You’ll always be scraping by unless you control yourself and start investing and saving.
    Jun 18 0
  • Snapchat whok
    you can definitely afford it, go for it! Also I think you get free charge at nvidia right?
    Jun 18 2
    • New / Eng QTdN03
      $TSLA investor spotted.
      Jun 18
    • Nvidia uLwD81
      OP
      Yes near to free charging.
      Jun 18
  • New / Eng 00001111
    Yes, you can afford a model 3, many people buy more expensive cars with lower salaries (not that this is a good idea). Just make sure you are maxing out retirement and have like 6 months living expenses saved up beforehand.
    Jun 18 1
    • You don’t buy a luxury car when you have student loans.
      Jun 18
  • Microsoft / Eng cholical
    How much is not a lot of loans
    Jun 18 1
  • Nvidia uLwD81
    OP
    Thanks a lot for the advice.
    Jun 19 0
  • Samsung
    chajimogo

    Samsung

    BIO
    Stressed out but surviving
    chajimogomore
    Again another model 3. Please. It’s the Bay Area Toyota Corolla. No one (no chick) will blink an eye.

    Do yourself a favor, save some money and buy something that is not limited to charging stations.

    Also don’t take out a loan on a depreciating asset. I’ve made that mistake before 3 yrs after I got my first job and regretted it ever since. That money could have gone into stocks like Goog which would have appreciate 10 x over time, or even a cheap 1 bedroom condo down payment.
    Jun 19 0
  • Microsoft tru3863
    Go for it, it's a lovely car.
    Jun 19 0
  • Oracle / Product
    orclbuta

    Oracle Product

    PRE
    Amazon, Microsoft, Google, Facebook
    BIO
    OCI future is cloudy
    orclbutamore
    Use the sign on to buy your tesla
    Jun 18 0
  • You are young. You can drive crappy car still look cool. You will buy expensive car once you get older.
    Jun 18 0
  • Oracle / Product
    orclbuta

    Oracle Product

    PRE
    Amazon, Microsoft, Google, Facebook
    BIO
    OCI future is cloudy
    orclbutamore
    Yes, the SR+. You wont look at cars ever the same.
    Jun 18 0