CLKGTR wrote: ↑Sat Sep 28, 2024 1:49 pm
I really really like the car. Want it bad. Just having a difficulty time justifying the purchase.
Assuming I get the model 3 LR I have 2 options
1. $520/month for 3 year lease. No down. 10k mileage per year but I drive usually 20k miles a year
2. Purchase used one with low mileage outright. 38k for under 10k miles.
Only thing that goes against boglehead principle is that it
1) $350-450 in monthly insurance. It negates the gas saving vs ICE car.
2) High depreciation
3) Expensive to repair
Should I just pull the trigger? I drove bogleheads recommended cars like Rav4, Highlander, CRV and Pilot but they drive like a boat and most importantly, the autopilot feature is horrible. It cant keep the car in lane. I need this bad as I drive long distance often.
I have driven a LR model 3 for about 8 years. My previous car was a "bogleheadish" 1997 Toyota Camry that had 300K plus miles before I donated it about a month ago.
1) It's nearly impossible to correctly compare insurance rates among different drivers unless they live in the same area, have the same driving record, pay the same insurance bundle for other household cars, home insurance, earthquake insurance, etc.
2) If you tend to drive a car for a long period of time, depreciation factor should not be important. For me, cars are more like a tool than a collectible
3) It may or may not be expensive to repair, depending on your driving habit. Like you, I drive about 18-20K miles a year. I have not had any major problems with my model 3 for past 8 years and my repair expense was $36 when I had a window-rolling button replaced about 3 months ago.
I should mention couple of things as a boglehead
-tire maintenance cost may be higher since Tesla car tires seem to wear out sooner
-overall Tesla 3 maintenance cost is even lower than that of my reliable Camry
-buying a used, low-mileage one directly from Tesla is probably a preferable choice
-the longer you keep it, the more you save from initial upfront cost
You should ignore personal, political opinions thrown in this thread by some commenters around here. We buy a car; we do not discuss about our feeling about a company CEO or whatever executives of the company.
The finest, albeit the most difficult, of all human achievements is being reasonable.