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
- Rental Property Investor · Sedan, KS · Member since 2016 · 125 posts · 92 votes7y
@Dulce Beltran have you considered looking for an EV conversion company?
You'd be buying used. But a 2 or 3 year old gas vehicle with a full electric conversion by a professional company might be an option. Then you'd have any car you want. Tesla may be a household name but people have been in their garages building electric cars for a long time. There are a lot of smaller companies that deal in used battery packs or even go back to lead depending on the range you need and how much you want to spend up front.
- Rental Property Investor · Sedan, KS · Member since 2016 · 125 posts · 92 votes7y
@Jay Hinrichs I guess I can be proud of my 6 door Oldsmobile from 1974 then. Lol! Now i just need 4 more rentals.
- 7yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Andrew Cornstubble:
@Jay Hinrichs I guess I can be proud of my 6 door Oldsmobile from 1974 then. Lol! Now i just need 4 more rentals.
those 70 to 80 American made cars were pretty spectacular LOL
- 7yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Andrew Cornstubble:
@Jay Hinrichs I guess I can be proud of my 6 door Oldsmobile from 1974 then. Lol! Now i just need 4 more rentals.
many people wont need cars very soon if they are in town investors.. why buy one at all.
I have had many clients over the years that did not own cars but owned some pretty sweet real estate
One was a 160 acre timber tract I paid 2 million cash for.. had to go pick up the seller and deliver him to escrow LOL and then he proceeded to do yoga in the waiting room.. whilst we waited for the escrow officer to call us into the meeting room ..
- Rental Property Investor · Sacramento, CA · Member since 2015 · 1k+ posts · 893 votes7y
@Syed H. that's not hiding it, that's just lack of use! poor fancy car. It's getting treated just like my money is in my bank account ;)
- 7yJordan MoorheadBusiness MemberReal Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
@Dulce Beltran I'm going to buy one next year and have the same views on vehicles. I won't buy new but I've lived hard long enough to buy a different car.
The Moorhead Team5140 Reviews - Developer · NY/NJ/PA · Member since 2018 · 758 posts · 935 votes7y
Originally posted by @Tom Makinen:
There is a real play with exotic cars in terms of investment, but I don't know if you truly come out ahead since you have to pay a lot of maintenance and upkeep with it. I think it is just a mirage. Treat any money you make from a car as bonus, not an investment. You will feel so much better about it.
* I bought my California because that car has a potential to go up in value, but that hasn't happened yet and probably wont until some celebrity starts driving it.... *
There are def certain plays in exotics that can/will appreciate. Unfortunately, that doesn’t include almost all modern exotics. They make too many of them. I have broke even or made money on a few rare cars.
The California isn’t one of those appreciation potential cars. Made too many and not as popular. A 430 6 speed or a stripper 458 can be. Certain high end super cars are investments. Like the 918, la Ferrari, ford gt, P1
- Developer · NY/NJ/PA · Member since 2018 · 758 posts · 935 votes7y
Originally posted by @Account Closed:
@Syed H. that's not hiding it, that's just lack of use! poor fancy car. It's getting treated just like my money is in my bank account ;)
Unfortunately, when you can afford the cars, usually you work too much to enjoy them lol. But every time I do get to drive them, they are worth every penny.
- Rental Property Investor · Sacramento, CA · Member since 2015 · 1k+ posts · 893 votes7y
@Syed H. Isn't that a hell of a shakespearean tragedy? That's how it works though lol.
- Rental Property Investor · Sacramento, CA · Member since 2015 · 1k+ posts · 893 votes7y
@Tom Makinen interesting you mention the Turo. I actually just met with an old friend yesterday that was hustling up a couple of bucks Turo'ing Tesla model threes. I guess he picked up four of them. I wonder if it's worthwhile, I hardly drive my new SUV. I would only do it if the service managed the whole process for me and it were truly passive.
- Member since 2019 · 226 posts · 115 votes7y
Can you make money on it? Absolutely. Is it worth it, I think that depends on your risk tolerance and what you are taking home from your day job.
- South San Francisco, CA · Member since 2017 · 18 posts · 6 votes7y
@Dulce Beltran I’m in your position and pulling the trigger on a 2016 Tesla model S 70D for $39K. If you want to go to a credit union and see if they will finance the car. I was approved for 3.5% for 72 months. The loan amount is 50 K. I’m still deciding whether I want to pay cash or take a loan and use the cash for an RE purchase. Based on all the feedback it seems to be a good buy. I just sold my 2008 BMW M3 convertible to a dealer and may use the proceeds on the Tesla. The M3 was just too costly to maintain. I had a 2004 Prius before that and drove it to 240k miles before it died and I donated it to charity.
2 members of my family have the model S and they love it. Haven’t had any problems. One has a 2014 60 and one has a 2015 P85D. They both commute. Autopilot comes in handy on the P85D. I plan on using autopilot as I commute ~100 miles a day for work. Plan on using the AWD for trips up to Tahoe for the snow or summer trips. Also plan on taking it for road trips down to LA and SD to visit family more often. I was considering a used P90DL but that was 20k more and I want to use those funds more wisely.
Point being- it comes down to a personal choice. It seems to make sense for convenience, financial, and emotional perspectives. If it lasts 10 years, it pays for itself in refueling costs as I live near a supercharger and get charging at work. That alone sold me on the car.
- Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votes7y
Originally posted by @Jay Hinrichs:
Originally posted by @Jon Q.:
Originally posted by @Jay Hinrichs:
No 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. !!
Jay,
While i could be wrong, I don't believe she's investing on your level nor at your age. In my opinion, that makes a significant difference when deciding whether or not to spend money on a trophy asset/cash out-flow that will depreciate significantly over time.
That said, she is an agent / sales role. As others mentioned, I would seek to obtain a vehicle that is flashy and reliable, but at a severe discount. Likely something about 5 years old, but something reliable... Lexus, Toyota or similar...
Jon I don't think a 40k model 3 can be called a trophy asset.. mean you buy a honda accord with same features or camry etc they cost about the same.. now if your talking full loaded one for 125k maybe I see the trophy there.. tesla 3 is a daily driver..
I don't know about that. I think that ANY new car is a trophy asset as you can often buy a car that's a few years old for 70% of the price.
- 7yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Jon Q.:
Originally posted by @Jay Hinrichs:
Originally posted by @Jon Q.:
Originally posted by @Jay Hinrichs:
No 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. !!
Jay,
While i could be wrong, I don't believe she's investing on your level nor at your age. In my opinion, that makes a significant difference when deciding whether or not to spend money on a trophy asset/cash out-flow that will depreciate significantly over time.
That said, she is an agent / sales role. As others mentioned, I would seek to obtain a vehicle that is flashy and reliable, but at a severe discount. Likely something about 5 years old, but something reliable... Lexus, Toyota or similar...
Jon I don't think a 40k model 3 can be called a trophy asset.. mean you buy a honda accord with same features or camry etc they cost about the same.. now if your talking full loaded one for 125k maybe I see the trophy there.. tesla 3 is a daily driver..
I don't know about that. I think that ANY new car is a trophy asset as you can often buy a car that's a few years old for 70% of the price.
John what kind of bicycle do you own.. do you own more than one ? my old partner in my HML company was totally into those things He had easily 100k in bikes.. 10 to 15k each.. and these are pedal bikes.. LOL.. and when we went on trips or down to Napa to visit our business partners. he would pay to ship one or two ahead of us.. so that he could ride up Atlas peak and other rides.. So to me I don't own a bike .. have no interest.. but to him that's what interest him..
Or when I go up to Canada and or Alaska each year fly fishing.. and some guys pull out fly rods that cost 2 to 5k and have 10 of them along with them.. do we need 2k hand built fly rods Nope but we buy them.. me I limit my fly rods at 700 to 1000 each.. but then you can spend 250 to 1000 on the reels and of course you need two or three reels or more with different lines in them .. so to get properly outfitted for fly fishing you usually drop about 10k.. now this equipment can and does last a lifetime.. but its an investment. so to speak in your personal experience and joys of life.. but you can go to Walmart and buy a 50 dollar fly rod.. you get what you pay for..
U don't have to go to Canada or Alaska to fly fish but its the life experiences.. my next trip in 2020 will be fly fishing in Norway for Atlantic salmon and trout.. I don't really need to go there but I want to.. its life experiences.. we all spend money on things other think are foolish.
for me I could give a rip about cloths and shoes etc.. other Like another partner of mine.. had to wear Italian everything from 700 dollar loafers to 250 dollar shirts and 400 dollar jeans and 3k Cavalli suits.. he talked me into buy two of those Cavalli suits for some guru type speaking I was doing.. now U can tell U are wearing 3k suit and such and they are very nice.. but now if I buy a suit I limit it to 1k for pants and jacket others maybe not so much . see its all personal taste.
But bottom line U see very few super successful guys like Cardone etc.. standing in front of their 1995 Toyota corolla.. no you usually see them in front of a Jet or some exotic car etc.. its just reality.. so to me for someone to drop 40k on a model 3 Tesla its a smart move and not extravagant in the least bit. And don't get me talking about airplanes.. that goes to a whole nother conversation and different levels of money just like big boats.. etc.
- Rental Property Investor · Sedan, KS · Member since 2016 · 125 posts · 92 votes7y
Originally posted by @Jay Hinrichs:
Originally posted by @Andrew Cornstubble:
@Jay Hinrichs I guess I can be proud of my 6 door Oldsmobile from 1974 then. Lol! Now i just need 4 more rentals.
many people wont need cars very soon if they are in town investors.. why buy one at all.
I have had many clients over the years that did not own cars but owned some pretty sweet real estate
One was a 160 acre timber tract I paid 2 million cash for.. had to go pick up the seller and deliver him to escrow LOL and then he proceeded to do yoga in the waiting room.. whilst we waited for the escrow officer to call us into the meeting room ..
LOL! That's hilarious. I'm an hour and a half from the nearest Walmart. That is true though. Self driving cars are already on the road. It's just a matter of time now. I've been into hotrodding since I was born. I actually tag and insure so many vehicles I've started some of the paperwork to get a dealer's liscense just so i can trade more than 5 times a year.
It's just a hobby. I try and make it pay for itself and never get ahead because about once a year i find a car and keep it now.
- Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votes7y
Originally posted by @Jay Hinrichs:
Originally posted by @Jon Q.:
Originally posted by @Jay Hinrichs:
Originally posted by @Jon Q.:
Originally posted by @Jay Hinrichs:
No 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. !!
Jay,
While i could be wrong, I don't believe she's investing on your level nor at your age. In my opinion, that makes a significant difference when deciding whether or not to spend money on a trophy asset/cash out-flow that will depreciate significantly over time.
That said, she is an agent / sales role. As others mentioned, I would seek to obtain a vehicle that is flashy and reliable, but at a severe discount. Likely something about 5 years old, but something reliable... Lexus, Toyota or similar...
Jon I don't think a 40k model 3 can be called a trophy asset.. mean you buy a honda accord with same features or camry etc they cost about the same.. now if your talking full loaded one for 125k maybe I see the trophy there.. tesla 3 is a daily driver..
I don't know about that. I think that ANY new car is a trophy asset as you can often buy a car that's a few years old for 70% of the price.
John what kind of bicycle do you own.. do you own more than one ? my old partner in my HML company was totally into those things He had easily 100k in bikes.. 10 to 15k each.. and these are pedal bikes.. LOL.. and when we went on trips or down to Napa to visit our business partners. he would pay to ship one or two ahead of us.. so that he could ride up Atlas peak and other rides.. So to me I don't own a bike .. have no interest.. but to him that's what interest him..
Or when I go up to Canada and or Alaska each year fly fishing.. and some guys pull out fly rods that cost 2 to 5k and have 10 of them along with them.. do we need 2k hand built fly rods Nope but we buy them.. me I limit my fly rods at 700 to 1000 each.. but then you can spend 250 to 1000 on the reels and of course you need two or three reels or more with different lines in them .. so to get properly outfitted for fly fishing you usually drop about 10k.. now this equipment can and does last a lifetime.. but its an investment. so to speak in your personal experience and joys of life.. but you can go to Walmart and buy a 50 dollar fly rod.. you get what you pay for..
U don't have to go to Canada or Alaska to fly fish but its the life experiences.. my next trip in 2020 will be fly fishing in Norway for Atlantic salmon and trout.. I don't really need to go there but I want to.. its life experiences.. we all spend money on things other think are foolish.
for me I could give a rip about cloths and shoes etc.. other Like another partner of mine.. had to wear Italian everything from 700 dollar loafers to 250 dollar shirts and 400 dollar jeans and 3k Cavalli suits.. he talked me into buy two of those Cavalli suits for some guru type speaking I was doing.. now U can tell U are wearing 3k suit and such and they are very nice.. but now if I buy a suit I limit it to 1k for pants and jacket others maybe not so much . see its all personal taste.
But bottom line U see very few super successful guys like Cardone etc.. standing in front of their 1995 Toyota corolla.. no you usually see them in front of a Jet or some exotic car etc.. its just reality.. so to me for someone to drop 40k on a model 3 Tesla its a smart move and not extravagant in the least bit. And don't get me talking about airplanes.. that goes to a whole nother conversation and different levels of money just like big boats.. etc.
- Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votes7y
I got a GIANT TCR... and just one. I got it used and I paid $500 for it, which is 1/4th the cost vs new :-)
Point noted. Yes, if it's something you're really into and it'll give you great joy by all means do it, but if you're younger and just getting started, it's likely wiser to invest the money.
Even the higher end stuff I own, if I can, I buy it used and I get great deals on it.
Price is what you pay, VALUE is what you get.
It is really about EFFICIENCY. Being an efficient user of time, energy, and money.
IF you spend...spend wisely.
"In short, the way to wealth, is you desire it, is as plain as the way to market. It depends chiefly on two words: industry and frugality. Waste neither time nor money, but make the best use of both. He that gets all he can honestly, and saves all he can, will certainly become rich".
-Benjamin Franklin
- Real Estate Agent · Albany/Schenectady/Troy, NY · Member since 2016 · 74 posts · 35 votes7y
Frunk is good for landlord go kit. I've been all electric since 2014.
- Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votes7y
Originally posted by @Jay Hinrichs:
Originally posted by @Jon Q.:
Originally posted by @Jay Hinrichs:
Originally posted by @Jon Q.:
Originally posted by @Jay Hinrichs:
No 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. !!
Jay,
While i could be wrong, I don't believe she's investing on your level nor at your age. In my opinion, that makes a significant difference when deciding whether or not to spend money on a trophy asset/cash out-flow that will depreciate significantly over time.
That said, she is an agent / sales role. As others mentioned, I would seek to obtain a vehicle that is flashy and reliable, but at a severe discount. Likely something about 5 years old, but something reliable... Lexus, Toyota or similar...
Jon I don't think a 40k model 3 can be called a trophy asset.. mean you buy a honda accord with same features or camry etc they cost about the same.. now if your talking full loaded one for 125k maybe I see the trophy there.. tesla 3 is a daily driver..
I don't know about that. I think that ANY new car is a trophy asset as you can often buy a car that's a few years old for 70% of the price.
John what kind of bicycle do you own.. do you own more than one ? my old partner in my HML company was totally into those things He had easily 100k in bikes.. 10 to 15k each.. and these are pedal bikes.. LOL.. and when we went on trips or down to Napa to visit our business partners. he would pay to ship one or two ahead of us.. so that he could ride up Atlas peak and other rides.. So to me I don't own a bike .. have no interest.. but to him that's what interest him..
Or when I go up to Canada and or Alaska each year fly fishing.. and some guys pull out fly rods that cost 2 to 5k and have 10 of them along with them.. do we need 2k hand built fly rods Nope but we buy them.. me I limit my fly rods at 700 to 1000 each.. but then you can spend 250 to 1000 on the reels and of course you need two or three reels or more with different lines in them .. so to get properly outfitted for fly fishing you usually drop about 10k.. now this equipment can and does last a lifetime.. but its an investment. so to speak in your personal experience and joys of life.. but you can go to Walmart and buy a 50 dollar fly rod.. you get what you pay for..
U don't have to go to Canada or Alaska to fly fish but its the life experiences.. my next trip in 2020 will be fly fishing in Norway for Atlantic salmon and trout.. I don't really need to go there but I want to.. its life experiences.. we all spend money on things other think are foolish.
for me I could give a rip about cloths and shoes etc.. other Like another partner of mine.. had to wear Italian everything from 700 dollar loafers to 250 dollar shirts and 400 dollar jeans and 3k Cavalli suits.. he talked me into buy two of those Cavalli suits for some guru type speaking I was doing.. now U can tell U are wearing 3k suit and such and they are very nice.. but now if I buy a suit I limit it to 1k for pants and jacket others maybe not so much . see its all personal taste.
But bottom line U see very few super successful guys like Cardone etc.. standing in front of their 1995 Toyota corolla.. no you usually see them in front of a Jet or some exotic car etc.. its just reality.. so to me for someone to drop 40k on a model 3 Tesla its a smart move and not extravagant in the least bit. And don't get me talking about airplanes.. that goes to a whole nother conversation and different levels of money just like big boats.. etc.
Jay, in regard to your comment in the last paragraph, I guess that I'm one of the "few"... same with Warren Buffett who still drives a Lincoln Town car and lives in a modest house... and many other business owners and investors. Have you read the book "Millionaire Next Door"? This was written by two Stanford professors who actually obtained a great sample size of millionaires,.. and the typical one is frugal, buys used cars, doesn't fly first class etc... That is actually the standard for most millionaires. There's a reason why they are a millionaire and that reason is primarily discipline and efficient use of money. IKEA's Founder was also very notably frugal.
Here's a longer list of millionaires that also make up the "few"...
- Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votes7y
Originally posted by @Jay Hinrichs:
Originally posted by @Jon Q.:
Originally posted by @Jay Hinrichs:
Originally posted by @Jon Q.:
Originally posted by @Jay Hinrichs:
No 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. !!
Jay,
While i could be wrong, I don't believe she's investing on your level nor at your age. In my opinion, that makes a significant difference when deciding whether or not to spend money on a trophy asset/cash out-flow that will depreciate significantly over time.
That said, she is an agent / sales role. As others mentioned, I would seek to obtain a vehicle that is flashy and reliable, but at a severe discount. Likely something about 5 years old, but something reliable... Lexus, Toyota or similar...
Jon I don't think a 40k model 3 can be called a trophy asset.. mean you buy a honda accord with same features or camry etc they cost about the same.. now if your talking full loaded one for 125k maybe I see the trophy there.. tesla 3 is a daily driver..
I don't know about that. I think that ANY new car is a trophy asset as you can often buy a car that's a few years old for 70% of the price.
John what kind of bicycle do you own.. do you own more than one ? my old partner in my HML company was totally into those things He had easily 100k in bikes.. 10 to 15k each.. and these are pedal bikes.. LOL.. and when we went on trips or down to Napa to visit our business partners. he would pay to ship one or two ahead of us.. so that he could ride up Atlas peak and other rides.. So to me I don't own a bike .. have no interest.. but to him that's what interest him..
Or when I go up to Canada and or Alaska each year fly fishing.. and some guys pull out fly rods that cost 2 to 5k and have 10 of them along with them.. do we need 2k hand built fly rods Nope but we buy them.. me I limit my fly rods at 700 to 1000 each.. but then you can spend 250 to 1000 on the reels and of course you need two or three reels or more with different lines in them .. so to get properly outfitted for fly fishing you usually drop about 10k.. now this equipment can and does last a lifetime.. but its an investment. so to speak in your personal experience and joys of life.. but you can go to Walmart and buy a 50 dollar fly rod.. you get what you pay for..
U don't have to go to Canada or Alaska to fly fish but its the life experiences.. my next trip in 2020 will be fly fishing in Norway for Atlantic salmon and trout.. I don't really need to go there but I want to.. its life experiences.. we all spend money on things other think are foolish.
for me I could give a rip about cloths and shoes etc.. other Like another partner of mine.. had to wear Italian everything from 700 dollar loafers to 250 dollar shirts and 400 dollar jeans and 3k Cavalli suits.. he talked me into buy two of those Cavalli suits for some guru type speaking I was doing.. now U can tell U are wearing 3k suit and such and they are very nice.. but now if I buy a suit I limit it to 1k for pants and jacket others maybe not so much . see its all personal taste.
But bottom line U see very few super successful guys like Cardone etc.. standing in front of their 1995 Toyota corolla.. no you usually see them in front of a Jet or some exotic car etc.. its just reality.. so to me for someone to drop 40k on a model 3 Tesla its a smart move and not extravagant in the least bit. And don't get me talking about airplanes.. that goes to a whole nother conversation and different levels of money just like big boats.. etc.
Again, there's no rules, but I think age is important. If you are young, are trying to save up to get your investment career started, it's probably not the best idea to be buying a Tesla, unless it'll have a positive, notable impact on your career and enable you to bring in more money.
The test I used when I spend money is this:
MONEY SPENDING TEST
(1) Do I NEED or WANT it?
If NEED, buy it.
(2) If WANT, how much joy will it bring me and how much does it cost?
If I feel that the level of joy significantly outweighs the cost, then BUY it. If not, pass on it.
If you use this test, you will end up spending money a little more wisely.
I believe that money should be treated as a physical equivalent of work. Each dollar that I have, I had to create value for.
Just like TIME, MONEY was never meant to be wasted. In fact, I personally believe it is a sin to do so.
I think that as you grow older, if they have it, people may tend to spend more because the fact that their life will end becomes more obvious.
But I think that also doesn't have to be. The truth is that once you reach a certain level, having more money doesn't make much of a difference in your life. The most valuable things in life do not include money and there's a real risk of intrinsically valuing it.
If you feel that to fully express yourself and enjoy life that you must have a beautiful car or plane, then I'm all for it. You should have all things that bring you joy, but owning things also have a cost/downside. It's up to each of us to find the right balance that we're happy with and that balance will change based on many variables, including age.
- 7yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Jon Q.:
Originally posted by @Jay Hinrichs:
Originally posted by @Jon Q.:
Originally posted by @Jay Hinrichs:
Originally posted by @Jon Q.:
Originally posted by @Jay Hinrichs:
No 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. !!
Jay,
While i could be wrong, I don't believe she's investing on your level nor at your age. In my opinion, that makes a significant difference when deciding whether or not to spend money on a trophy asset/cash out-flow that will depreciate significantly over time.
That said, she is an agent / sales role. As others mentioned, I would seek to obtain a vehicle that is flashy and reliable, but at a severe discount. Likely something about 5 years old, but something reliable... Lexus, Toyota or similar...
Jon I don't think a 40k model 3 can be called a trophy asset.. mean you buy a honda accord with same features or camry etc they cost about the same.. now if your talking full loaded one for 125k maybe I see the trophy there.. tesla 3 is a daily driver..
I don't know about that. I think that ANY new car is a trophy asset as you can often buy a car that's a few years old for 70% of the price.
John what kind of bicycle do you own.. do you own more than one ? my old partner in my HML company was totally into those things He had easily 100k in bikes.. 10 to 15k each.. and these are pedal bikes.. LOL.. and when we went on trips or down to Napa to visit our business partners. he would pay to ship one or two ahead of us.. so that he could ride up Atlas peak and other rides.. So to me I don't own a bike .. have no interest.. but to him that's what interest him..
Or when I go up to Canada and or Alaska each year fly fishing.. and some guys pull out fly rods that cost 2 to 5k and have 10 of them along with them.. do we need 2k hand built fly rods Nope but we buy them.. me I limit my fly rods at 700 to 1000 each.. but then you can spend 250 to 1000 on the reels and of course you need two or three reels or more with different lines in them .. so to get properly outfitted for fly fishing you usually drop about 10k.. now this equipment can and does last a lifetime.. but its an investment. so to speak in your personal experience and joys of life.. but you can go to Walmart and buy a 50 dollar fly rod.. you get what you pay for..
U don't have to go to Canada or Alaska to fly fish but its the life experiences.. my next trip in 2020 will be fly fishing in Norway for Atlantic salmon and trout.. I don't really need to go there but I want to.. its life experiences.. we all spend money on things other think are foolish.
for me I could give a rip about cloths and shoes etc.. other Like another partner of mine.. had to wear Italian everything from 700 dollar loafers to 250 dollar shirts and 400 dollar jeans and 3k Cavalli suits.. he talked me into buy two of those Cavalli suits for some guru type speaking I was doing.. now U can tell U are wearing 3k suit and such and they are very nice.. but now if I buy a suit I limit it to 1k for pants and jacket others maybe not so much . see its all personal taste.
But bottom line U see very few super successful guys like Cardone etc.. standing in front of their 1995 Toyota corolla.. no you usually see them in front of a Jet or some exotic car etc.. its just reality.. so to me for someone to drop 40k on a model 3 Tesla its a smart move and not extravagant in the least bit. And don't get me talking about airplanes.. that goes to a whole nother conversation and different levels of money just like big boats.. etc.
Jay, in regard to your comment in the last paragraph, I guess that I'm one of the "few"... same with Warren Buffett who still drives a Lincoln Town car and lives in a modest house... and many other business owners and investors. Have you read the book "Millionaire Next Door"? This was written by two Stanford professors who actually obtained a great sample size of millionaires,.. and the typical one is frugal, buys used cars, doesn't fly first class etc... That is actually the standard for most millionaires. There's a reason why they are a millionaire and that reason is primarily discipline and efficient use of money. IKEA's Founder was also very notably frugal.
Here's a longer list of millionaires that also make up the "few"...
I get it other than my house in PDX and Vegas If I cant pay cash for it I don't buy it period.. been that way for 30 years now..
but I get it for those starting out.. Well except our airplanes we financed them to the eyeballs.. LOL but they were business tools and the section 179 tax deduction saved us 100's of thousands in income tax. in the year we bought them.
I know many millionaires which these days does not take a much.. and while I don't know any that I would call Mr. or Mrs Frugal but not all of them spend like crazy.. one partner of mine had 10 million in personal homes 2 and a Ferrari in each one.. his wife though bought costume jewelry and on short flights never went first class.. but then again she would never get on the company jet.. too small and afraid of flying basically..
me personally I believe I am middle of the road. on all this stuff.. since I can no longer fly and have sold the airplanes I do like a nice car.
And we love to travel.. but I always go business but for free.. I always pay for domestic travel and then use miles for international a few times a year in business.. also same with hotels I stick to one I never use Airbnb. I want those points so when I do go on trips I use Miles for my airfare and points for my hotel.. my international trips cost me very little .. domestically if its over 2 hours I fly first.. price difference is not that great.. and with tight connections I like being first off the airplane most wont know that it takes 30 minutes to get off if your behind the wing and you could easily miss your connection. ETC etc. but most don't fly as much as we probably do or I do close to 100k miles a year.. its an art and learned skill..
- Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votes7y
Originally posted by @Jay Hinrichs:
Originally posted by @Jon Q.:
Originally posted by @Jay Hinrichs:
Originally posted by @Jon Q.:
Originally posted by @Jay Hinrichs:
Originally posted by @Jon Q.:
Originally posted by @Jay Hinrichs:
No 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. !!
Jay,
While i could be wrong, I don't believe she's investing on your level nor at your age. In my opinion, that makes a significant difference when deciding whether or not to spend money on a trophy asset/cash out-flow that will depreciate significantly over time.
That said, she is an agent / sales role. As others mentioned, I would seek to obtain a vehicle that is flashy and reliable, but at a severe discount. Likely something about 5 years old, but something reliable... Lexus, Toyota or similar...
Jon I don't think a 40k model 3 can be called a trophy asset.. mean you buy a honda accord with same features or camry etc they cost about the same.. now if your talking full loaded one for 125k maybe I see the trophy there.. tesla 3 is a daily driver..
I don't know about that. I think that ANY new car is a trophy asset as you can often buy a car that's a few years old for 70% of the price.
John what kind of bicycle do you own.. do you own more than one ? my old partner in my HML company was totally into those things He had easily 100k in bikes.. 10 to 15k each.. and these are pedal bikes.. LOL.. and when we went on trips or down to Napa to visit our business partners. he would pay to ship one or two ahead of us.. so that he could ride up Atlas peak and other rides.. So to me I don't own a bike .. have no interest.. but to him that's what interest him..
Or when I go up to Canada and or Alaska each year fly fishing.. and some guys pull out fly rods that cost 2 to 5k and have 10 of them along with them.. do we need 2k hand built fly rods Nope but we buy them.. me I limit my fly rods at 700 to 1000 each.. but then you can spend 250 to 1000 on the reels and of course you need two or three reels or more with different lines in them .. so to get properly outfitted for fly fishing you usually drop about 10k.. now this equipment can and does last a lifetime.. but its an investment. so to speak in your personal experience and joys of life.. but you can go to Walmart and buy a 50 dollar fly rod.. you get what you pay for..
U don't have to go to Canada or Alaska to fly fish but its the life experiences.. my next trip in 2020 will be fly fishing in Norway for Atlantic salmon and trout.. I don't really need to go there but I want to.. its life experiences.. we all spend money on things other think are foolish.
for me I could give a rip about cloths and shoes etc.. other Like another partner of mine.. had to wear Italian everything from 700 dollar loafers to 250 dollar shirts and 400 dollar jeans and 3k Cavalli suits.. he talked me into buy two of those Cavalli suits for some guru type speaking I was doing.. now U can tell U are wearing 3k suit and such and they are very nice.. but now if I buy a suit I limit it to 1k for pants and jacket others maybe not so much . see its all personal taste.
But bottom line U see very few super successful guys like Cardone etc.. standing in front of their 1995 Toyota corolla.. no you usually see them in front of a Jet or some exotic car etc.. its just reality.. so to me for someone to drop 40k on a model 3 Tesla its a smart move and not extravagant in the least bit. And don't get me talking about airplanes.. that goes to a whole nother conversation and different levels of money just like big boats.. etc.
Jay, in regard to your comment in the last paragraph, I guess that I'm one of the "few"... same with Warren Buffett who still drives a Lincoln Town car and lives in a modest house... and many other business owners and investors. Have you read the book "Millionaire Next Door"? This was written by two Stanford professors who actually obtained a great sample size of millionaires,.. and the typical one is frugal, buys used cars, doesn't fly first class etc... That is actually the standard for most millionaires. There's a reason why they are a millionaire and that reason is primarily discipline and efficient use of money. IKEA's Founder was also very notably frugal.
Here's a longer list of millionaires that also make up the "few"...
I get it other than my house in PDX and Vegas If I cant pay cash for it I don't buy it period.. been that way for 30 years now..
but I get it for those starting out.. Well except our airplanes we financed them to the eyeballs.. LOL but they were business tools and the section 179 tax deduction saved us 100's of thousands in income tax. in the year we bought them.
I know many millionaires which these days does not take a much.. and while I don't know any that I would call Mr. or Mrs Frugal but not all of them spend like crazy.. one partner of mine had 10 million in personal homes 2 and a Ferrari in each one.. his wife though bought costume jewelry and on short flights never went first class.. but then again she would never get on the company jet.. too small and afraid of flying basically..
me personally I believe I am middle of the road. on all this stuff.. since I can no longer fly and have sold the airplanes I do like a nice car.
And we love to travel.. but I always go business but for free.. I always pay for domestic travel and then use miles for international a few times a year in business.. also same with hotels I stick to one I never use Airbnb. I want those points so when I do go on trips I use Miles for my airfare and points for my hotel.. my international trips cost me very little .. domestically if its over 2 hours I fly first.. price difference is not that great.. and with tight connections I like being first off the airplane most wont know that it takes 30 minutes to get off if your behind the wing and you could easily miss your connection. ETC etc. but most don't fly as much as we probably do or I do close to 100k miles a year.. its an art and learned skill..
Yes, I hear you. Makes sense to me. Frugal in ways that make sense and spending when you feel that what you're spending on will bring you great joy. I love being in the outdoors, (sounds like we've got that in common) so that where I tend to spend more money on... bikes, kayaks, running events, backpacking/hiking, snowboarding and other outdoor trips. I'm going to do some hiking in Denver in late July, likely going to Maui in September, then a two and half week hiking trip in New Zealand.
I've been thinking of snowboarding Mt. Hood + Mt. Bachelor both next season.
It would be great to catch up with you in Portland on my next trip.
- 7yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Jon Q.:
Originally posted by @Jay Hinrichs:
Originally posted by @Jon Q.:
Originally posted by @Jay Hinrichs:
Originally posted by @Jon Q.:
Originally posted by @Jay Hinrichs:
Originally posted by @Jon Q.:
Originally posted by @Jay Hinrichs:
No 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. !!
Jay,
While i could be wrong, I don't believe she's investing on your level nor at your age. In my opinion, that makes a significant difference when deciding whether or not to spend money on a trophy asset/cash out-flow that will depreciate significantly over time.
That said, she is an agent / sales role. As others mentioned, I would seek to obtain a vehicle that is flashy and reliable, but at a severe discount. Likely something about 5 years old, but something reliable... Lexus, Toyota or similar...
Jon I don't think a 40k model 3 can be called a trophy asset.. mean you buy a honda accord with same features or camry etc they cost about the same.. now if your talking full loaded one for 125k maybe I see the trophy there.. tesla 3 is a daily driver..
I don't know about that. I think that ANY new car is a trophy asset as you can often buy a car that's a few years old for 70% of the price.
John what kind of bicycle do you own.. do you own more than one ? my old partner in my HML company was totally into those things He had easily 100k in bikes.. 10 to 15k each.. and these are pedal bikes.. LOL.. and when we went on trips or down to Napa to visit our business partners. he would pay to ship one or two ahead of us.. so that he could ride up Atlas peak and other rides.. So to me I don't own a bike .. have no interest.. but to him that's what interest him..
Or when I go up to Canada and or Alaska each year fly fishing.. and some guys pull out fly rods that cost 2 to 5k and have 10 of them along with them.. do we need 2k hand built fly rods Nope but we buy them.. me I limit my fly rods at 700 to 1000 each.. but then you can spend 250 to 1000 on the reels and of course you need two or three reels or more with different lines in them .. so to get properly outfitted for fly fishing you usually drop about 10k.. now this equipment can and does last a lifetime.. but its an investment. so to speak in your personal experience and joys of life.. but you can go to Walmart and buy a 50 dollar fly rod.. you get what you pay for..
U don't have to go to Canada or Alaska to fly fish but its the life experiences.. my next trip in 2020 will be fly fishing in Norway for Atlantic salmon and trout.. I don't really need to go there but I want to.. its life experiences.. we all spend money on things other think are foolish.
for me I could give a rip about cloths and shoes etc.. other Like another partner of mine.. had to wear Italian everything from 700 dollar loafers to 250 dollar shirts and 400 dollar jeans and 3k Cavalli suits.. he talked me into buy two of those Cavalli suits for some guru type speaking I was doing.. now U can tell U are wearing 3k suit and such and they are very nice.. but now if I buy a suit I limit it to 1k for pants and jacket others maybe not so much . see its all personal taste.
But bottom line U see very few super successful guys like Cardone etc.. standing in front of their 1995 Toyota corolla.. no you usually see them in front of a Jet or some exotic car etc.. its just reality.. so to me for someone to drop 40k on a model 3 Tesla its a smart move and not extravagant in the least bit. And don't get me talking about airplanes.. that goes to a whole nother conversation and different levels of money just like big boats.. etc.
Jay, in regard to your comment in the last paragraph, I guess that I'm one of the "few"... same with Warren Buffett who still drives a Lincoln Town car and lives in a modest house... and many other business owners and investors. Have you read the book "Millionaire Next Door"? This was written by two Stanford professors who actually obtained a great sample size of millionaires,.. and the typical one is frugal, buys used cars, doesn't fly first class etc... That is actually the standard for most millionaires. There's a reason why they are a millionaire and that reason is primarily discipline and efficient use of money. IKEA's Founder was also very notably frugal.
Here's a longer list of millionaires that also make up the "few"...
I get it other than my house in PDX and Vegas If I cant pay cash for it I don't buy it period.. been that way for 30 years now..
but I get it for those starting out.. Well except our airplanes we financed them to the eyeballs.. LOL but they were business tools and the section 179 tax deduction saved us 100's of thousands in income tax. in the year we bought them.
I know many millionaires which these days does not take a much.. and while I don't know any that I would call Mr. or Mrs Frugal but not all of them spend like crazy.. one partner of mine had 10 million in personal homes 2 and a Ferrari in each one.. his wife though bought costume jewelry and on short flights never went first class.. but then again she would never get on the company jet.. too small and afraid of flying basically..
me personally I believe I am middle of the road. on all this stuff.. since I can no longer fly and have sold the airplanes I do like a nice car.
And we love to travel.. but I always go business but for free.. I always pay for domestic travel and then use miles for international a few times a year in business.. also same with hotels I stick to one I never use Airbnb. I want those points so when I do go on trips I use Miles for my airfare and points for my hotel.. my international trips cost me very little .. domestically if its over 2 hours I fly first.. price difference is not that great.. and with tight connections I like being first off the airplane most wont know that it takes 30 minutes to get off if your behind the wing and you could easily miss your connection. ETC etc. but most don't fly as much as we probably do or I do close to 100k miles a year.. its an art and learned skill..
Yes, I hear you. Makes sense to me. Frugal in ways that make sense and spending when you feel that what you're spending on will bring you great joy. I love being in the outdoors, (sounds like we've got that in common) so that where I tend to spend more money on... bikes, kayaks, running events, backpacking/hiking, snowboarding and other outdoor trips. I'm going to do some hiking in Denver in late July, likely going to Maui in September, then a two and half week hiking trip in New Zealand.
I've been thinking of snowboarding Mt. Hood + Mt. Bachelor both next season.
It would be great to catch up with you in Portland on my next trip.
Bachelor is nice but I would not bother with Mt. hood.. well at least as a downhill skier I would not bother with it.. one thing you should look at it CAT skiing on Mt. Mcloughlin southern Oregon.. don't have to go all the way to the bugaboos.. although the best of course is that area of BC out of Revelstoke.. awesome area I mean awesome LOL
- 7yGreg GaudetPro MemberInvestor · Pukalani, HI · Member since 2017 · 413 posts · 291 votes
@Kris L.
I would factor that fuel in, and I would consider renting it on turo. Maybe keep my previous car and list them both, drive whichever isn’t rented
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