Thinking of buying a Tesla Model S. Someone talk me out of it!

[Ready]

I think you will be quite happy with a Tesla Model 3 if you don't mind the wait. It may be a bit smaller, a little slower, and slightly less range, but otherwise it's got all of the sizzle that one expects to get when driving a Tesla.

I can't justify the $100K cost of a Model S, but I'm more than happy to spend half that on the Model 3.

 

[Senator]

$60/mo is still markedly cheaper than fuel, at least here in CA. That'd be a reduction of 75% fuel cost for me, probably more for a person with a 55mi round trip. Granted, it's a leaf vs a sedan with 25 mpg, but...

Teslas also manage charging power usage very efficiently. An older used Leaf would have an older battery, require more frequent and more lengthy (relatively speaking) charging than a new Model S, FWIW.

All that said, I agree that assuming fuel cost to be "essentially free" is an exercise in kidding yourself.

Exactly. And at some point, the electric car will need a new battery. That is expensive.

 

[Music Lover]

I wouldn't buy one simply because there are better vehicles that cost a lot less.

The other reason is that it's estimated that Musk and his companies have been the recipient of close to $5 billion in corporate welfare:

Elon Musk's growing empire is fueled by $4.9 billion in government subsidies - LA Times

 

[nash031]

I think you will be quite happy with a Tesla Model 3 if you don't mind the wait. It may be a bit smaller, a little slower, and slightly less range, but otherwise it's got all of the sizzle that one expects to get when driving a Tesla.



I can't justify the $100K cost of a Model S, but I'm more than happy to spend half that on the Model 3.

Nobody really knows what a Model 3 will look like or what it will be able to do. We have promises. That's it. Can't see putting money towards that yet. If it comes out like the X, ick.

 

[midwestguy]

Hard to save enough gas to justify the 100k but the car is unbelieveable. I bought one and love every minute of it.

For me it was a small portion of my assets but I do plan on keeping it a long time

I don't know of any tesla owners that regret their purchase.

 

[nash031]

Hard to save enough gas to justify the 100k but the car is unbelieveable. I bought one and love every minute of it.

For me it was a small portion of my assets but I do plan on keeping it a long time

I don't know of any tesla owners that regret their purchase.

Wouldn't expect any Tesla owner to say that they do. It's tough to admit we made a mistake, especially one that could be perceived as frivolous by outsiders.

Me? I love Teslas and would have one in a minute if money were no object. May anyway. But I fear buyers remorse... we will see of that changes in two years when I'm in the market.

 

[brewer12345]

100k for a damn car? You would have to be nuts.

 

[Midpack]

All Teslas have ultimately been vanity purchases by affluent buyers, with significant tax incentives to boot (the Model 3 may be closer to an everyperson vehicle). It would take forever to break even on gasoline and they're by no means zero emissions as some seem to believe. There's no emissions reductions in regions with coal power plants, but there are reductions (not zero) where natural gas fuels power plants. Hydro and alternative power do approach zero emissions, small but growing sources?

 

[midwestguy]

I think most people buy Tesla's not to save gas or even save the planet. I think they buy it because it's an amazing car

I wouldn't buy one if I didn't have sufficient means. It's s luxury item.

I have bought many things I regretted, but not the tesla. In fact I ordered a second one.

 

[Koolau]

I think the technology is so cool that it just could be worth the price when you consider that you not only get a nice car but also the coolest toy on the block. Still I don't think I could justify it for myself. I'm not too worried about range on Oahu, but I don't have access to my own charging station (parking structure has no provision for charging.) I'm sure I could find a charger, but that could get old quickly.

The other thing I found out recently (on this forum) is that you don't own the software and programs (according to Is99). They also monitor your use of the car, so they may well be able to say "Sorry, Charlie, your warranty is invalid because you did X, Y, or Z."

So, if I haven't talked OP out of buying an S model, then by all means, OP, enjoy the heck out of it. YMMV

 

[aja8888]

I read today that Tesla has 143,000 federal tax credits remaining @$7500 each. If they have 400,000 deposits on Model 3, then a lot of buyers won't get the federal tax credit. Plus the buyers of the S and x are taking from that pot.

 

[Senator]

Tesla doesn't have anything that Ford, Chevy of Dodge doesn't have, other than subsidies. Or any of the foreign companies, like Honda and Toyota.

I suspect that there will be large competition for electric vehicles, and the prices will drop. They have to. Tesla doesn't have anything special.

 

[gerntz]

I think the technology is so cool that it just could be worth the price when you consider that you not only get a nice car but also the coolest toy on the block.

Who thinks they're cool toys besides those that buy them? I see them & say, OK, so what. I can only go 250 miles or so in it without a hassle. Now when Toyota's new solid state batteries double travel distance, then you got something. To each their own. No envy/care here.

 

[Koolau]

Who thinks they're cool toys besides those that buy them? I see them & say, OK, so what. I can only go 250 miles or so in it without a hassle. Now when Toyota's new solid state batteries double travel distance, then you got something. To each their own. No envy/care here.

For reasons mentioned and because they don't fit my financial profile, I'll probably never buy one. BUT I think they are cool. Just because they aren't perfect (and don't work for me) doesn't mean they don't have some very cool technology and capability. If you haven't done so, look up the "launch" in ludicrous mode on YouTube. If you don't think that's cool, then I guess you and I will just agree to disagree.

 

[ndnguy822000]

They are indeed crazy scary and mind blowing fast. Repairs are expensive , the brakes cost over 10k to repair because they seldom get used due to regenerative braking which recaptures the momentum to charge battery. The problem is the brakes don't get used therefore go bad and no one can work on them.

 

[Midpack]

I think most people buy Tesla's not to save gas or even save the planet. I think they buy it because it's an amazing car

I wouldn't buy one if I didn't have sufficient means. It's s luxury item.

I have bought many things I regretted, but not the tesla. In fact I ordered a second one.

+1. The Model S is an impressive car, and the Model 3 could be too. It's the people who buy them and talk as if they're on some moral high eco ground that baffle me. They're clearly eco chics making fashion/ego statements. I've seen a few Model S's, Leafs, etc. (not all), with zero emissions plates on them - that's nonsense in the case of most buyers. I love tech stuff, and fully understand people who buy Teslas on that basis.

I see they did the formal rollout of the first production Model 3's last night, so Teslas next chapter begins.

 

[nash031]

+1. The Model S is an impressive car, and the Model 3 could be too. It's the people who buy them and talk as if they're on some moral high eco ground that baffle me. They're clearly eco chics making fashion/ego statements. I've seen a few Model S's, Leafs, etc. (not all), with zero emissions plates on them - that's nonsense in the case of most buyers. I love tech stuff, and fully understand people who buy Teslas on that basis.

I see they did the formal rollout of the first production Model 3's last night, so Teslas next chapter begins.

I saw some of the model 3 photos and read some reviews. $50K for a car that small is pretty steep, but I'm not sure how the tax subsidies will work out, and that could knock the cost way down. The $35K version will leave a few people disappointed, but as long as the logistics work out it could be a winner.

My major concern with Tesla right now is the company's profitability and ability to sole-source support for the vehicle boom that's about to hit them. Chargers don't appear to be an issue right now, but will they when the number of Teslas on the road quadruples? What about service availability?

As much as I love the Model S, it's hard for me to drop $100K just to be an early adopter when I have real concerns about the long term viability of the car and brand. If I can convince myself that over the course of ten years or more, the hassles associated with charging and maintenance will be no or just marginally more of a pain than on a traditional make, it's possible I'll look at a Model S or Model 3 in a couple of years when replacing my car.

I've kicked around the idea of investing in Tesla, but haven't brought myself to be able to pull the trigger before or certainly now. When Apple introduced the iPod and then the iPhone, it was a no brainer to me that this was the future. Tesla is the "first mover" here in the long-range EV, but I'm not as convinced that they will be the future standard-bearer for electric cars as Apple is for MP3 players and smartphones. The investment is too speculative for my taste, though I know a few folks here used proceeds from the TSLA run up to buy their own Model S! I'm envious there!

 

[W2R]

I went to Edmunds dot com to see what they had to say about the model 3. Not that I'm considering a Tesla! But I was just curious due to the lower price.

I was shocked to see that they said,

reliability of current Tesla models is not very good.

If I bought a $100K car, and it broke down (ever!) I'd be FURIOUS. You'd think that for that price, at the very least you'd get a car as invincible as a tank.

Because of this, and this alone, I have changed my mind and think buying a Tesla is not a great idea even for those who can afford one. You should get better value for your money than that.

 

[nash031]

I went to Edmunds dot com to see what they had to say about the model 3. Not that I'm considering a Tesla! But I was just curious due to the lower price.

I was shocked to see that they said,
If I bought a $100K car, and it broke down (ever!) I'd be FURIOUS. You'd think that for that price, at the very least you'd get a car as invincible as a tank.

Because of this, and this alone, I have changed my mind and think buying a Tesla is not a great idea even for those who can afford one. You should get better value for your money than that.

Long term reliability is definitely a question. Consumer Reports restored the Model S to their top ultra luxury spot after the battery issue was sorted through. That's probably what Edmunds is based on. But yes, at $100K, I would need more assurances than are currently available, but $100K is a significant sum of money to me, even $50K too. YMMV.

 

[aja8888]

Because of this, and this alone, I have changed my mind and think buying a Tesla is not a great idea even for those who can afford one. You should get better value for your money than that.

When buying a Tesla, value is in the eye of the beholder.

 

[Texas Proud]

I went to Edmunds dot com to see what they had to say about the model 3. Not that I'm considering a Tesla! But I was just curious due to the lower price.

I was shocked to see that they said,
If I bought a $100K car, and it broke down (ever!) I'd be FURIOUS. You'd think that for that price, at the very least you'd get a car as invincible as a tank.

Because of this, and this alone, I have changed my mind and think buying a Tesla is not a great idea even for those who can afford one. You should get better value for your money than that.

I do not know why you would think a more expensive car would be more reliable.... heck, the most expensive are high level sports cars and they are far from reliable... even the top Mercedes are not that great...


It seems to me that reliability is something that a car company will push internally and a few do a good job on most of their models... and a few do very poorly on most of theirs....

 

[clifp]

Have you driven it yet? If you have, and still think you can be talked out of it, then don't.

If you have, and love it, and the $$$ doesn't dent your ER, go for it.

This actually perfect advice.

I eventually will be trading my early Model S in for a Model 3.
I want a smaller car (too hard to find parking spaces in Honolulu) and I'll value the autodrive features more than better performance and nicer interior.

I'm not sure if this is going to be common, but I do expect that you'll start seeing more S's for sale at lower prices soon.

 

[6miths]

I do not know why you would think a more expensive car would be more reliable.... heck, the most expensive are high level sports cars and they are far from reliable... even the top Mercedes are not that great...


It seems to me that reliability is something that a car company will push internally and a few do a good job on most of their models... and a few do very poorly on most of theirs....

Definitely this! Ferrari, Lamborghini, McLaren even BMW and MB - these are not cars that you are buying because they will be trouble free for 250K which is very good because they absolutely are not!

 

[W2R]

Oh, OK.... er... Well, I'll just stick with my Toyota then, thankyouverymuch.

 

[braumeister]

I used to know a guy who always drove a Rolls. He loved it, but unfortunately it wasn't the most reliable car and would frequently be in the shop. So he had two of them and just drove whichever one was available that day. So even at the highest end, reliability is never guaranteed.

Still, he always had a grin on his face whenever I saw him driving around town. I would have too!