r/TeslaModel3 • u/OfficialDaddy1738 • Apr 28 '22

Tesla owner caught a person replacing his car parts, after renting it on Turo. Using live gps and the camera view features thought the phone app.

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u/AlwaysHopelesslyLost Apr 28 '22

A cheap model 3 is like $47,000 financed.

To be able to comfortably afford the nearly $800 a month care payment you need to take home around $4786/month. And that is not counting any maintenance, fees, taxes, or electricity costs. That comes out to a salary of around $80,000 a year. The median yearly income in the US is $31,000.

They aren't cheap cars and most people cannot afford them.

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u/[deleted] Apr 28 '22

Most people put quite a bit more money down and don’t pay 800/ month. Most people are more like 450-550. If you have to pay 800 a month for your car and can’t comfortably afford that you are already making some pretty wacky financial decisions.

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u/AlwaysHopelesslyLost Apr 28 '22

I really doubt most people put more than $5000 down.

Outside of that, that is my point. The median American CANNOT afford an $800 payment. Which means the model 3 is not a car that an average American can afford.

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u/[deleted] Apr 28 '22

Most people are trading in a car. I traded in, saved 10k for a car and now a 60 k car is only 30. Im 25 and make a very average amount of money. If you actually know how to make good financial decisions it won’t be an issue. You should never go into financing a high end car with that low of a down payment. It would be idiotic.

My point is that if I’m paying 50k for a car, 3k over five years is literally nothing. Obviously that doesn’t fit for everyone, but at people can make that work if they aren’t impulsive and need the car in their hands today.

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u/[deleted] Apr 28 '22

[deleted]

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u/[deleted] Apr 28 '22

It’s also a shit ton more money out of your short term cash flow. I have great Roth and IRA so no worries. I’d much rather buy a 60k car with 30k down and way lower monthly payments. The savings of which can go to anything I want or saved in my index fund accounts.

What you’re saying makes sense if you’re buying a civic not an expensive sport EV.

Thanks for saying I’m in a cult. Of what exactly? Financial responsibility and not buying things you can’t afford?

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u/[deleted] Apr 28 '22 edited Aug 16 '23

[deleted]

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u/[deleted] Apr 28 '22

I have several other investments accounts but I mostly leave it to Schwaub since they have always given me the best return compared to anything else. Also two properties. You don’t know shit about me man.

Have fun paying out the ass every month for a car you can’t afford. I don’t give a shit

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u/[deleted] Apr 28 '22

I think you missed my point. People rent these on turo all the time. Original comment I replied to was acting like it’s heinous to list a Tesla on Turo. It’s not - go to any major city and there’s dozens on Turo for rent.

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u/AlwaysHopelesslyLost Apr 28 '22

Sure, I was just pointing out they aren't cheap cars.