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Old 06-09-2014, 01:59 PM   #21
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I drive a Ford F150 , 2010 super crew truck with only 12000 miles. I intend to drive it around the country when I retire. Despite the very poor mileage of 13 to 18 mpg, if I drive it thru out the country at an average speed to
100,000 miles, the gas will cost about $15,000 to $18,000. That's cheap compared to even buying a new car.
My friend drives a $100,000 Nissan GTR sports car. He can't drive the car in the winter.
I make more money that he does, and guess who has more savings?
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Old 06-09-2014, 03:10 PM   #22
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Also, the data is highly suspect. There are plenty multi-millionaires around me, but pick-ups are rarely seen. Yesterday I was walking home from Lake Washington. I saw several Ferraris, a Corvette, and a couple 911s, but the only pickups I saw had grass clippings, shovels, and rakes in the back. So maybe most Millionaires next door are yard men?

My Dad had this same misunderstanding that expensive cars were only owned by people deeply in debt. He just believed this because it made him feel better.
My millionaire next door neighbor* has a pickup and I believe it's an F-150. Their other cars are a 10 year old impala and a relatively new Honda Accord (for the lady). I've never seen this millionaire next door with yard tools in his pickup truck, but I see him mowing grass at his houses occasionally (he does outsource it sometimes). Lately I've seen him with a case of furnace filters in the back seat of his Impala. Guess it's HVAC maintenance time of year for his houses.

*He owns 5-6 rental houses in the neighborhood and all are mortgage free from my property record snooping, which adds up to about a million dollars just in income producing real estate.
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Old 06-09-2014, 03:17 PM   #23
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How long do you think that it will be before "Wow you've got a Tesla!" turns into, " Oh, I see you've got one of the old Gen 1 Teslas. The new ones are so much better"?
More like "Ewww, you're still driving that Tesla? Why haven't you switched to the new Google iCar yet? You're just that into retro things from the 2010's?? Since Google bought Apple's electric car business back in 2019 and incorporated their own driverless tech into Apple's chassis, it's all the rage now. And at only $110,000 it's a steal since it will last forever!"

Welcome to the future dis/utopia.
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Old 06-09-2014, 03:18 PM   #24
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If a $90,000 car could last "forever" (the motor has an infinite life according to sales pitch, the battery is less known), I am considering this to be more of an expense moderator (I drop $500-$750/mo on gas easily).
Are you trying to justify the purchase based on this or is this coming from the sales guy selling you? Motors certainly do not have infinite lives. Although I am no expert on electric cars, it seems to me if your spending that much on gas each month, I see a lot of recharge time in your future.
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Old 06-09-2014, 03:26 PM   #25
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On risk with Tesla is whether or not it will be around 5 to 10 years from now to provide parts and service. I am a great admirer of Elon Musk and what he has accomplished with both Tesla and SpaceX, but I think Tesla is still a gamble, more so than SpaceX, IMHO.

If Tesla goes belly up in five years and you can't get your Tesla fixed, will that bother you a lot? Will it alter your quality of life? Only you can decide. Also, keep in mind that most states and probably the Feds will find some way of taxing electric vehicles to make up for the gasoline tax they are not paying. It's hard to justify a growing fleet of electric vehicles driving on roads that others pay for every time they buy gas.
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Old 06-09-2014, 03:35 PM   #26
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For many, this may be a case of "if you have to ask, then you can't afford it" variety. To me, it's gonna add 1/2 year to my OMY stint. I can't afford that. I'd rather drive Prius than sacrifice 1/2 year of my RE. YMMV.
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Old 06-09-2014, 04:00 PM   #27
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My "toys" are limited to a couple dual sport motorcycles for now but I have no problem with buying lots of toys/wants if you have the means.

Personally I would wait to the point where compounding has taken over and therefore needs are covered for life.

Also buying something for status has no appeal to me. The people who would be impressed are not the people I like to hang out with.

But if you have $100,000,000 why drive a civic when you can drive a Ferrari.

But don't buy the Ferrari if you think it is a good financial move because it is not. I'm pretty sure a civic will give you more miles per dollar.
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Old 06-09-2014, 04:18 PM   #28
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But if you have $100,000,000 why drive a civic when you can drive a Ferrari.
It's more spacious?
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Old 06-09-2014, 04:27 PM   #29
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But if you have $100,000,000 why drive a civic when you can drive a Ferrari.
To help save env. for future generations?
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Old 06-09-2014, 04:29 PM   #30
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But if you have $100,000,000 why drive a civic when you can drive a Ferrari.
With that money, I would be driving something close to a tank so crazy drivers could not hurt me.

PS. Something like the below.

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Old 06-09-2014, 04:35 PM   #31
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With that money, I would be driving something close to a tank so crazy drivers could not hurt me.
Hummer went out of business. I guess one can buy a used one, fitted with turret, and blow away tailgaters.
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Old 06-09-2014, 04:38 PM   #32
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See one above that I would use to tour all continents while living inside it too. Let those Ferraris and Teslas tailgate me all they want. I would not care, and just ignore them as if they do not exist. They'd better watch my brake lights though. I hate to have to scrap them off the bottom of my RV.
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Old 06-09-2014, 05:01 PM   #33
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That looks like something out of The Mad Max movies.
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Old 06-09-2014, 05:12 PM   #34
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How about this one, whose interior is roomier than many studios in London or NYC?

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Old 06-09-2014, 05:23 PM   #35
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If you have the means and desire, buy it.

Wrestling with rationalizations is just going to waste your time. Most cars less than 10 years old at this point will be drivable for 300k miles [the engine] but most of the rest of the vehicle will wear to a disagreeable state unless babied to the extreme. The drive train is the easy part now days.
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Old 06-09-2014, 07:35 PM   #36
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If you are spending say $600/month on gas, paying $3.50/gal, and driving a car with 25mpg, that works out to 4,300 miles/month. That's a lot of driving!
It may not be a lot of driving. I'm one of those millionaires driving a F150 Platinum. LOL It only gets 11 or 12 mpg

What does the original poster drive now and why does he want a Tesla? Use it for a daily driver in retirement? Fun car for nice weather? Been living far below your means and want your last splurge?
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Old 06-09-2014, 07:48 PM   #37
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Mine is aF150 XLT, 31K out of the lot. I like it. It is so unpretentious
nobody cares.
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Old 06-09-2014, 07:53 PM   #38
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Sam Walton drove a '79 Ford F150. MRG
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Old 06-09-2014, 08:35 PM   #39
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With that money, I would be driving something close to a tank so crazy drivers could not hurt me.
If I could afford it DW would be driving something made by Peterbuilt or Mack.
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Old 06-09-2014, 08:44 PM   #40
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I drive an f150, but hope op gets the tesla. We need to keep the demand and price of f150's down in case I have to buy a new one some day
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