Cybertruck Financing - Current Tesla owners chime in (please)

[Cyber1qhorsey]

Saving works for both your wants and needs, equally. ALL of us put $ 100 down on the CT as a pure 'want', For a product that is at least 3 years away. Most will actually 'need' it in 3, 4 or 5 years to replace an older ICE vehicle. We are also saving for the future tech in it! Future FSD, future Batteries, future utility and so on. I personally would like to read reliability reports from a good sample, on the road, before I invest 60 K in it...

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[drcarric2650]

I personally would like to read reliability reports from a good sample, on the road, before I invest 60 K in it...

Very true, I too would like to know more about the CT reliability before I purchase, that's why I waited a month before putting in my order, hoping that the truck would be out for a year, before my reservation comes up.

 

[DARKFURY1]

A lot of real good information . Keep it going!!!

 

[lukefrisbee]

Very true, I too would like to know more about the CT reliability before I purchase, that's why I waited a month before putting in my order, hoping that the truck would be out for a year, before my reservation comes up.

Me too. I waited about the same amount of time...about 2 weeks after they had 250,000 people in front of me. So bugs could be worked out, or if it was not the dream I am thinking I can pull my ante off the table after looking at my hold cards.

 

[Cyber1qhorsey]

Hey, at my age, If the CT is moderately reliable, my kids will inherit it. Also, it'll be fully depreciated against the family business taxes in the meantime! What a novel thought!

 

[Txcybertruck]

While of course it's best to pay cash for a car, that's not the way most people are able to buy a new car and not really helpful to most middle income persons.

Buying a new car that cost $50,000 is the average yearly salary in America. It is very hard to drop an entire year's wages on a new vehicle.

IMO - Better advice would be to try and get the loan interest as low as possible. Try and save up as much as you can over the next few years and put a large down payment on the CT. Finally, try and pay more each moth, or if you get paid every two weeks, make half the payment every pay check. This will pay off the loan early.

Always better to pay cash for things that appreciate and finance as cheap as possible things that depreciate like cars

 

[Cyber1qhorsey]

"Always better to pay cash for things that appreciate and finance as cheap as possible things that depreciate like cars"

Believe it or not, the CT might not depreciate much due to software updates, fsd, durability, million mile battery tech, camper mode, solar, SS. and on. It's definitely worth the cash.

 

[keyhere]

"Always better to pay cash for things that appreciate and finance as cheap as possible things that depreciate like cars"

Believe it or not, the CT might not depreciate much due to software updates, fsd, durability, million mile battery tech, camper mode, solar, SS. and on. It's definitely worth the cash.

I was actually pretty skeptical about Tesla's holding their resale values but they've shown similar numbers to Tacomas, which is incredible.

 

[John K]

Make the monthly car payment to yourself over the next two years. You can then do a 4 year loan but simulate 6 years with the first two 0% interest.

 

[Cyberfuturist]

I put my money in the stock, hopefully in three years it will increase enough to pay for the CT in full. Having said that, it is a risk, as with any stock, but if you expect the CT to be out in 3 years, it is highly likely the stock will be much higher than it is now.

I'm doing the same thing. c'mon stocks, make me some Cybertruck money!

 

[Stratosurfer]

I’m an Independent Financial Advisor. The best scenario is to always pay cash for everything. This is not possible for most folks on home ownership, yet debt on a smallish, appreciating home is good debt. Debt on -any- vehicle that depreciates (will CT?: certainly it must) unless used in a business daily is not good debt. I will actually use mine in my business as I will commute between distant remote offices I have. Nonetheless I have the cash at this stage and will pay cash. If I didn’t, I would save the cash. Being debt free at my age (59) should be a financial goal for all, no matter where you start out. The CT I receive at age 62 or 63 might last me virtually the rest of my life and that’s exciting. My 2013 Ford C-Max Hybrid with 148K miles is tasked to get me to CT’s arrival, probably have 225K miles on the Cmax by then. BTW, I like the strategy to put money into TSLA now for purchase of CT when available.

 

[ajdelange]

Debt on -any- vehicle that depreciates (will CT?: certainly it must) unless used in a business daily is not good debt.

The criterion is not depreciation or business use. It is the existence or not of another investment that has an ROI greater than the cost of carrying the debt. Debt, properly used, is a tool which has made fortunes. But, of course, improperly used, it has lost them. I don't like it,

 

[KingBee74]

I put my money in the stock, hopefully in three years it will increase enough to pay for the CT in full. Having said that, it is a risk, as with any stock, but if you expect the CT to be out in 3 years, it is highly likely the stock will be much higher than it is now.

I started buying stock 2 yrs ago. I am there!

 

[roncruiser]

Think carefully about 5 or 6 year car loans. 1. They have your title. 2. Payment on a $ 50 K loan is not a breeze. 3. However, saving for it makes it yours - immediately. I'm saving cash for mine cause it won't be built likely till 2022 or 2023...

Yup, paying all cash here too. There's lots of time to save.

 

[Cyber1qhorsey]

I’m an Independent Financial Advisor. The best scenario is to always pay cash for everything. This is not possible for most folks on home ownership, yet debt on a smallish, appreciating home is good debt. Debt on -any- vehicle that depreciates (will CT?: certainly it must) unless used in a business daily is not good debt. I will actually use mine in my business as I will commute between distant remote offices I have. Nonetheless I have the cash at this stage and will pay cash. If I didn’t, I would save the cash. Being debt free at my age (59) should be a financial goal for all, no matter where you start out. The CT I receive at age 62 or 63 might last me virtually the rest of my life and that’s exciting. My 2013 Ford C-Max Hybrid with 148K miles is tasked to get me to CT’s arrival, probably have 225K miles on the Cmax by then. BTW, I like the strategy to put money into TSLA now for purchase of CT when available.

If you'd put 60 K on TSLA in January, you'd be able to buy an model S, a model Y (for the spouse) and still have a good pile saved for your CToy!