Buy a Tesla Model 3?
Dulce BeltranPro Member
Real Estate Agent · San Diego, CA · Member since 2017 · 99 posts · 52 votesBuy a Tesla Model 3?
Most Popular Reply
Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votesNo way on this site will any one agree with buying anything but a used beater LOL.
I have two teslas that I bought brand new an X and An S both going on 3 years old both never been in the shop.
they are the best cars I have ever owned and I would no way go back to a ITC engine..
my out of pocket for energy to drive the cars is less than 20 a month each.. and I get free super charging so when I am on the road I pay nothing for gas.. no oil no maintenance there is Nothing to maintain.. software updates come in over the internet.. so your car is always evolving and your getting the latest and greatest features all for free. you plug it in at home at night when rates go down .. you can time when it starts charging. So depending on battery you choose in the model 3 unless you routinely drive more than 200 to 250 miles PER DAY you simply plug it in when you come home each evening just like you would a golf cart after a round of golf. If you cant set up your own charging at your home then it can be an issue.. it cost about 150 to have a electrician run a 240 from your breaker box.. its like setting up for a dishwasher .
My daughter bought a 3 6 months ago and just loves it.. and I know numerous other folks that have them that love them.
just like many talk about doom and gloom in the economy.. I think Tesla has paved the way to change how auto manufacturers are going to look in the future.. like in Scandinavian countries they out law gas cars after 2022 I think all cars have to be electric. Not to mention crash worthy wise they are the safest car on the road.. and you don't need that until you really need it.. I would never drive some little light weight thing that would get crunched in a wreck.
With Telsas incredible supercharging network they are miles ahead of everyone else.. I get free super charging for life for my cars..
But then again it depends on where your at in your life and career..
and is a US company creating US jobs..
Let me also add for California drivers FREE use of the HOV lane with only one person in the car.. RIGHT there that's worth the price of the car.. Time is money.
PSS also with the new model 3 you will be able to get a full charge at the super charger in 15 minutes .. no slower than stopping and pumping gas and getting all dirty doing that.. now I Oregon its illegal to pump your own gas generally so many people in this state don't know how to pump gas or work a gas pump.. :) truth. !!
213 Replies
- Real Estate Agent · San Diego, CA · Member since 2017 · 99 posts · 52 votes7y
@Jay Hinrichs and @Russell Brazil for a business expense it's great! If you didn't pay cash and financed it, are you able to deduct the interest for the loan? I know with leases you're able to deduct those expenses and others. I agree Tesla is the innovator and has and is leading the path to electric stylish vehicles.
I really appreciate everyone's feedback especially the used beater owners! I am one for sure! LOL BUT as a Real Estate Agent I have other deduction benefits that I'm considering in the price of the vehicle.
@Kiera Underwood Yes! That is my first go too, RE pays for it!
@Myron Voorhis LOL Yes, I am conservative on my numbers for the purpose of growing my RE porfolio and am in a mindset of "I don't care for stuff" I am a minimalist for sure.
@Alan Dunlap the model 3 is roughly the same cost (a few thousand less) as a used model S with higher mileage. The tax benefits lower the cost a few thousand more, so for a new car vs a used car worth more, it makes more sense to purchase the new one.
- Investor · Topeka, KS · Member since 2015 · 1k+ posts · 1k+ votes7y
@Jay Hinrichs - I am definitely the old beater type.
I try to spend as little as possible on ego. With that being said, the old beater is not a badge of honor because that too would be ego. I'm just not a mans man. Cars don't do anything for me. I wonder if this site self selects for that trait?
- 7yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Pat L.:
My neighbors have never used a gas station either :)
but they have to buy food for the horse pay vet bills etc.. I think its cool though they can live their lives the way they like.. !!!
- 7yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Jacob Sampson:
@Jay Hinrichs - I am definitely the old beater type.
I try to spend as little as possible on ego. With that being said, the old beater is not a badge of honor because that too would be ego. I'm just not a mans man. Cars don't do anything for me. I wonder if this site self selects for that trait?
its all personal choice.. I have gone both ways.. and until I bought the Tesla I had never paid more than about 35 or 40k for a car that was my limit.. but I always buy new cars always have.. I don't want to ever have to work on them.. so every 3 years I trade in for new..
bought some used ones over the years of course .. I had airport cars in Portland for years.. and those were used cars.. 3rd cars that were sport cars for occasional use that sort of thing..
AS I get older I realize you cant take it with you. and if a car gives you some pleasure.. and is one of the safest on the road then for me its OK.. These cars though I have so far no inkling to trade them in once I need a new set of tires like I normally do, one reason is the over the air software upgrades that keep it new and fresh..
However if my fortunes changed I would have no problem driving an older used vehicle.. and while I get the whole rental property thing that's no my personal cup of tea.. lots of other ways to make money in real estate.. top producing agents have no need for rentals usually you can do that and make great income your entire life.. retirement is not in my lexicon.. got to do something.
- New to Real Estate · Nashville, TN · Member since 2018 · 3 posts · 8 votes7y
Check out Graham Stephan's YouTube videos about his Tesla 3 and tax write-offs from being self-employed. I'm a big fan of the type of content he puts out in general:
- 7yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Ned J.:
I'll admit that for me, cars are more than transportation.... I enjoy them.... the look, the feel, the experience of driving them, the sights and sounds.....so I make my decision about cars not based solely on $$..... its my vice.... but I don't make stupid decisions.... just not ideal ones..... I buy used but not cheap.... I modify cars..... I build then in ways that I will NEVER see that $$ back.....
Life is more than accumulating $$.....some people spend big $$ on travel....clothes.....dining experiences..... none of that stuff does it for me...... we work hard to accumulate $$ so we can do the things WE enjoy......what's the point of having that $$ if its doesn't facilitate you to be able to spend some in a "less than financially sound way"......and everyone is different, so if you are financially sound in every other aspect of your life and you want a Tesla, then get one....
Exactly I did not need an airplane but I wanted to be an airline pilot missed that opportunity so I just bought my own.. no way no how you can justify it.. you can a little bit.. as I used my quite a lot on the west coast for business trips and meetings and tax writeoffs are MASSIVE.. But the cost of owning a plane is 10X or more of a Tesla.. but man you cant take those 30 years of piloting to over half the states in the country away from my memory bucket.. worth every cent.. even though to most they would just cringe.. LOL..
Life is about balance I think is your point.. what's the use of doing well in real estate if we can reward ourselves in some manner.. if your reward is stacking up rental houses and dealing with tenants then god bless you.. that's just not my idea of reward that's work to me and having to deal with others life dramas.. We live in the Jet age not the wagon age.. So again just personal choice..
- Investor · Topeka, KS · Member since 2015 · 1k+ posts · 1k+ votes7y
@Jay Hinrichs - I agree. At some point you need to enjoy what you work for. I just don't get joy out of cars. My joy, thus what I over pay for, is travel.
- 7yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Jacob Sampson:
@Jay Hinrichs - I agree. At some point you need to enjoy what you work for. I just don't get joy out of cars. My joy, thus what I over pay for, is travel.
I agree on Travel. My wife is on a cruise in Norway right now I get to follow her on the Marine tracking websites. I had to stay home and watch the dog and cat LOL..
I talk to folks around the country in my travels ( I travel a ton) and some maybe have never been on a plane never been out of the country maybe don't even know where Oregon is.. LOL.. its just so foreign to my way of life and thinking but its cool for them and well its their choice.
- Member since 2019 · 4 posts · 4 votes7y
It's not even a discussion, buy Tesla Model 3. If you love driving and spend lot of time in traffic or long drives, there is nothing comparable in the market other than Model 3.
Driving is stress free, awesome handling, quick response, single pedal driving, you hardly need to use a brake.
7 day's return guarantee, show me one car that show such confidence. Also don't forget, car always gets latest firmware updates for free.
- Rental Property Investor · Ithaca, NY · Member since 2015 · 1k+ posts · 1k+ votes7y
@Dulce Beltran
I’d buy a car for 5,000-7500, something economical but not a piece of garbage. Take the rest of the money and put it towards a house.
- 7yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Pradeep Byram:
It's not even a discussion, buy Tesla Model 3. If you love driving and spend lot of time in traffic or long drives, there is nothing comparable in the market other than Model 3.
Driving is stress free, awesome handling, quick response, single pedal driving, you hardly need to use a brake.
7 day's return guarantee, show me one car that show such confidence. Also don't forget, car always gets latest firmware updates for free.
the auto pilot in bumper to bumper is simply genius turn it on.. sit back and you can even put your make up on without hitting the car in front of you.. I love that aspect. not the make up but the not worrying about getting into a fender bender.
on long drives I let the car drive me.. It just like flying you sit and observe George ( name of auto pilot) make sure he is acting nice.
- Real Estate Broker · Los Angeles, CA · Member since 2017 · 655 posts · 293 votes7y
Here's my 2 cents in addition to what you've mentioned. Sounds like your goal is to buy assets and have money coming in rather than buying a cool car that will take money from you.
1. Tesla's are cool, but because of the tech, and the speed that tech moves, in my view it's basically a smartphone that will be far behind in 5 years. What's the plan for battery replacement in 5 or 10 years? Where do the old batteries go? (I think of the environment when it comes to mining, production, and recycling, also cost.) Look at past cars that were styled distinct and futuristic, they look really outdated now. Comically so - something you might care about.
2. I really don't see it lasting 20 years, but I also don't think 90% or less of us will own cars in 20 years. I think in 8 to 10 we will be paying subscriptions for car services like Lyft, where a self driving VW or Tesla picks us up. I also see personal electric vehicles becoming a huge part of our lives - long range, high speed, electric scooters and bikes
3. Whether a good or bad decision, it's something that could cost you for years, not just the $14k, but in missed opportunities to buy RE - possible, taking a guess at the impact without knowing your fin situation, but it's something you could feel for years
4. Unless you drive a lot and drove a high MPG car or truck, don't expect gas savings to add up to big$$ even over a few years. I did this analysis for myself a while back, just don't expect the car to pay for itself, ever
5. If you have solar, your current panels have to produce enough for your house and for the car. If they don't, you'll have an electric bill to offset gas savings. If you don't have solar yet, you'll end up paying for the system that can produce for the house and car. Still paying for it until electric cars have solar panels and can charge itself and solar/charging roads.
As mentioned, Tesla could be gone soon, or even 3 years from now. I think they will be around but no one knows for sure.
I was and am a car enthusiast, I have owned high end cars and I'm just over it. I have a 20 year old 4Runner which will drive through anything, starts every time, has room for my four big dogs, and it looked awesome in 99 and still does. I also have a fairly new Mercedes that I cant give away! If I needed a small car, I'd really consider a Prius myself. Solid, Toyota, already ugly so it's not going to age. But I don't see myself going that way.
Look at millennial and tech trends, owning a car is becoming less important, and it's a liability.
Those are my thoughts on why not to just based on some wording in your OP. Your brain is clever, it will do its best to convince you why you should do it and why it's a good deal - credits, etc. Even while it might not be inline with your values and future goals.
Go with your gut, not your logic. At a certain point, you know the best choice
- Flipper/Rehabber · Bremerton, WA · Member since 2019 · 11 posts · 7 votes7y
@Dulce Beltran I just wanna day that I want a Tesla too haha
- Member since 2019 · 4 posts · 4 votes7y
Originally posted by @Eric Carr:
Here's my 2 cents in addition to what you've mentioned. Sounds like your goal is to buy assets and have money coming in rather than buying a cool car that will take money from you.
1. Tesla's are cool, but because of the tech, and the speed that tech moves, in my view it's basically a smartphone that will be far behind in 5 years. What's the plan for battery replacement in 5 or 10 years? Where do the old batteries go? (I think of the environment when it comes to mining, production, and recycling, also cost.) Look at past cars that were styled distinct and futuristic, they look really outdated now. Comically so - something you might care about.
2. I really don't see it lasting 20 years, but I also don't think 90% or less of us will own cars in 20 years. I think in 8 to 10 we will be paying subscriptions for car services like Lyft, where a self driving VW or Tesla picks us up. I also see personal electric vehicles becoming a huge part of our lives - long range, high speed, electric scooters and bikes
3. Whether a good or bad decision, it's something that could cost you for years, not just the $14k, but in missed opportunities to buy RE - possible, taking a guess at the impact without knowing your fin situation, but it's something you could feel for years
4. Unless you drive a lot and drove a high MPG car or truck, don't expect gas savings to add up to big$$ even over a few years. I did this analysis for myself a while back, just don't expect the car to pay for itself, ever
5. If you have solar, your current panels have to produce enough for your house and for the car. If they don't, you'll have an electric bill to offset gas savings. If you don't have solar yet, you'll end up paying for the system that can produce for the house and car. Still paying for it until electric cars have solar panels and can charge itself and solar/charging roads.
As mentioned, Tesla could be gone soon, or even 3 years from now. I think they will be around but no one knows for sure.
I was and am a car enthusiast, I have owned high end cars and I'm just over it. I have a 20 year old 4Runner which will drive through anything, starts every time, has room for my four big dogs, and it looked awesome in 99 and still does. I also have a fairly new Mercedes that I cant give away! If I needed a small car, I'd really consider a Prius myself. Solid, Toyota, already ugly so it's not going to age. But I don't see myself going that way.
Look at millennial and tech trends, owning a car is becoming less important, and it's a liability.
Those are my thoughts on why not to just based on some wording in your OP. Your brain is clever, it will do its best to convince you why you should do it and why it's a good deal - credits, etc. Even while it might not be inline with your values and future goals.
Go with your gut, not your logic. At a certain point, you know the best choice
Please use facts not assumption when advocating good or bad.
As always, car purchase should be rational and emotional purchase at the same time. Don't buy something you regret to drive.
Car is something everyone has a option and numerous options in the market. Consider safety, drivability, and ultimately do you see yourself driving and enjoying everyday.
Like it or not electric cars are here to stay, anything else is not even debatable.
GM was close to insolvable, and was rescued by government. No one thought it was possible, but it happened.
GM was first to be in the electric cars space, but politics and greed killed the product and almost the company.
- Rental Property Investor · Portland, OR · Member since 2018 · 2 posts · 2 votes7y
I bought my Model 3 Long range RWD 2 months ago I love it. Tesla's success affects too many powerful players: oil, ICE cars, insurance companies, car dealers, parts, etc., so don't believe all these negative headlines. Tesla's critics have been forecasting Tesla’s imminent death for more than a decade!
Read the real owners' forums, get a test drive and, if you like it, take it. BTW, you can return it with no reason if you want within one week or 1000 miles, but after a few days, you won't be able to understand why people are still buying ICE cars.
- Waipahu, HI · Member since 2018 · 121 posts · 81 votes7yOriginally posted by @Kyle Noskowiak:
Check out Graham Stephan's YouTube videos about his Tesla 3 and tax write-offs from being self-employed. I'm a big fan of the type of content he puts out in general:
Kyle beat me to it. I was going to share this also. If you can do the calculations, and you are earning close to Graham these write offs are pretty ridiculous. I would usually be with the mindset of getting something with no debt, and keeping it forever, but Graham makes a compelling case for buying it, and using the write-offs.
- Investor/Syndicator · North Aurora, IL · Member since 2013 · 167 posts · 70 votes7y
Along with bonused appreciations the new tax law also affected vehicle ownership as it relates to a business. You may be able to buy a lot more than you thought with the right CPA. I'm surprised no one has chimed in yet. what do you own now, that you will be trading?
- Rental Property Investor · Canton, OH · Member since 2017 · 1k+ posts · 1k+ votes7y
@Dulce Beltran
I like the look of Tesla's, but the company doesn't ever turn a profit...my concern would be, what if I bought one and the company goes under? Also, not sure how maintenance would work on them. Instead buy a ○|||||||○
- Rental Property Investor · Melbourne, FL · Member since 2019 · 25 posts · 25 votes7y
In my opinion, if you did the math and can truly afford the car, then I would go for it! As an electrical engineer, Tesla's have always fascinated me, and I believe that the model 3 is the best $35k-$45k sedan that one can buy. (Except for long drives due to the time it takes for charging).
My friends consider me the most frugal and best with my money out of the group, and I believe that one should make smart financial decisions (buy assets and limit liabilities); but even I believe that we should treat ourselves sometimes and reward the hard work it took building such wealth. At least take a look at used models and see if there are any good deals, but whatever you decide on, I hope you enjoy it!
- Member since 2018 · 1 post · 2 votes7y
I agree with @Jay Hinrichs. I have a 3 and its not just a new car, it just drives different. I love it and am looking forward to the model Y. I financed my Tesla even though I could have paid it in cash. Took the extra money and invested in RE the next month. I’m close to break even and even more so if you consider the lack of maintenance and gas required.
- Rental Property Investor · San Jose, CA · Member since 2016 · 114 posts · 54 votes7y
@Jay Hinrichs, to your comment on a badge of honors.. what do you call this man?
https://qz.com/india/1637208/rishad-premji-to-take-over-from-azim-premji-at-indias-wipro/
He bought a second hand Mercedes from his employee.
- 7yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Rich Lopes:
@Jay Hinrichs, to your comment on a badge of honors.. what do you call this man?
https://qz.com/india/1637208/rishad-premji-to-take-over-from-azim-premji-at-indias-wipro/
He bought a second hand Mercedes from his employee.
I get it.. I do.. when I lived at Silverado up in Napa.. we had all sorts of very successful people not the 2nd richs in the country although one time Buffett and Gates had a meeting there at our club..
But everyone is different with cars no doubt. One of my partners sold his garbage company for just under 100 million and he drives is old Chevy Tahoe.. but when I was in Istanbul on a trip with him he bought his wife jewelry that was more than the car we are talking about .
another member had the largest court reporting business in SF and they sold for I think about 12 million.. he drove a 70s old beat up ford.. but had a AT the time 2 plus million dollar home and he owned a Mall up in Rockland..
If owning a car keeps you from investing then for sure you should invest first but if you make a enough money to drive the car you want and own what ever real estate you want does not mean you have to drive old used cars..
- Real Estate Agent · Redlands, CA · Member since 2017 · 199 posts · 487 votes7y
There is a lot of misinformation about Tesla in this post ("did you know they are going out of business???").
I have a Model 3. It is the best car I have ever owned, but it is a toy. My wife and I made sacrifices to get it, but it was worth it to us. It is a large part of our monthly entertainment budget, and it brings us immense happiness when we drive it. Almost everytime I show up to Listing Appointment/Open House/Showing I get comments on the car, which leads to business card exchanges, which leads to future business. We could easily afford it the car, we were on a reservation list for 2 years, but we did not order the car until our passive cash flow from real estate paid for the monthly payment.
Purchasing a Model 3 is more of a lifestyle choice. It will cost you (years) on your financial goals over purchasing a beater. If you are not a Tesla fanatic then it might not make sense over purchasing a used Leaf or a Prius. If you don't get any additional utility or happiness from owning the car, it might not make sense. We do not regret the purchase one bit, and would heavily recommend the car.
Message me if you have any additional car-related questions. I love talking about Real Estate, Coffee, and Teslas.
-James
- Little Elm, TX · Member since 2014 · 1 post · 1 vote7y
@Dulce Beltran
Buying a car is not paying yourself first.
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