Should I buy a tesla

Nvidia
uLwD81

Go to company page Nvidia

uLwD81
Jun 18, 2019 57 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 57 Comments
  • SAP
    ppal

    Go to company page 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, 2019 6
    • SAP
      ppal

      Go to company page 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, 2019
    • Damn if you listened to this dude you would have become HELLA rich with how much Tesla stock has been appreciating
      Sep 28, 2020
  • New / Eng
    PQQw63

    New Eng

    PQQw63
    Focus your capital on acquiring assets, not depreciating liabilities.

    Thanks me later.
    Jun 18, 2019 4
  • No.
    Jun 18, 2019 7
  • Oracle
    safralions

    Go to company page 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, 2019 8
    • E*Trade / Finance
      cbEV72

      Go to company page 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, 2019
    • 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, 2019
  • New
    jobu9395

    New

    jobu9395
    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, 2019 2
    • Finale Inventory / Eng
      huHG50

      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, 2019
    • Nvidia
      uLwD81

      Go to company page Nvidia

      uLwD81
      OP
      I will look into more of his advice. Thanks for pointing it out
      Jun 18, 2019