Are you kidding? Anybody that would buy any EV needs to have their head examined. You’re pitching a car that loses 85% of its value in the first 24 months. For myself, I do mechanical, electrical and electronics. Tesla stocks no parts for its cars. That’s electronics, electrical distribution, or mechanical parts. The only thing you can count on are tires. With a compact car that weighs 4,500 lbs is ridiculous. Be sure and tell them what happens if you have even a minor fender bender. Once again no parts inventory. This is why insurance is going up. For an ice car the car or truck could be fixed in three days to a week. With a minimum of expense. A ev will take up to 3 months. Ev’s won’t be ready for at least another 10 years. Plus the battery is not ready and will not be Until it can’t burn your house down.
Just got 2024 Model Y performance.. car price: $51420, tax credit: $7500, car trading:$10200, 60 months loan at 0.99%.. monthly bill $628. Financed loan $36400.. hell of a deal in my opinion for the Performance model. Good luck hunting
I was thinking about the Tesla Y, but I think I’ll stay with my Leaf. Much cheaper, and in my opinion, more reliable. After all, three years driving with 0% batttery degradation. Registration, $45 for three years. Yes, you heard right. Charge from home with hardly a nick to my electric bill charging in off peak hours. Can’t beat that.
I always set aside $400 a month as maintenance/repair/new car fund. In 10 years, there is always cash in that fund. Usually our cars last 15 years+ as we always buy Toyota and Lexus.
Hey Myk I'm not brown nosing but you know the coolest swaggiest dude on RU-vid with the Tesla videos right? I thought I just let you know that. Keep up the good brother we appreciate your videos.
The inventory stock in Aus, which has the ‘incentives’, is all rocking HW3 rather than HW4; they’re trying to offload the older hardware. I’m spending a couple thousand more for the new HW4. I think it’s worth it.
My model y, my payment 0, insurance $120/ mo. Cost in 2021 $53990, charger at home $300 ($250 for 14/50 plug to be installed and $50 for adapter). Registration is same as any other car plus $120 ev fee in my state. Don’t be a slave to debt, if you can’t pay for it you don’t need it.
28 yo and I Live in Cali... And unfortunately most insurance companies are leaving the state... Long story short my insurance(state farm) is asking 314 a month for model y😅 hence the reason I have not purchased one yet
5:18 That part on the MVPA was helpful. I didn't know that other lenders would submit you financing offers with competitive interest rates. I noticed a lot of major banks say online that they are already working with major car dealers but they don't tell you how.
Good video and I’m not a hater at all,I have model Y and my wife got X but honestly I know not everyone can pay cash or put the big down payment but personally I cannot imagine myself to pay monthly $600 for a car,im making very good money but still 80% of down payments or cash,I remember 10 years ago when I was 21 my monthly payment for the car was $167 and at that point I was like oh my God I have to pay $200 for the car, for anyone who is thinking to make money and save a lot of money for the future never pay those money as a monthly payment if you can’t afford it
His number might be right but Insurance really depends on your State and your personal situation. I moved from IL to Texas and my Insurance almost doubled.
I traded my 2017 Model S with FSD/Free Supercharging in for a Model YLR in December mainly because of the $7500 incentive and they were allowing transfer of the free supercharging. A couple months later they were doing FSD transfers even after they said it was a one time thing back in September! 🤦♂ At least I didn't pay full price for FSD when I got it. Also, I think FSD is terrible, or at least it was in my Model S with AP3 hardware. Phantom braking all the time on wide open empty roads. So I don't think I will miss it. I didn't get a lot from Tesla for trade-in either, but it was more convenient. I just paid the MYLR off last week, so saved a lot on interest. Happy to have no car payment, free supercharging, and I have Tesla solar w/powerwall so my electric bill is a steady $35/month. I just ignore how much that solar/powerwall cost. 😁 At least that's paid off, too.
Is it still a great deal if I don't qualify for the federal tax credit? The 0.99% APR 72 months is what I was going for. Thank you for the great videos.
it was our income. So our work income is around 200k but I like going to the casino and did not know my winnings will be added to my income so we went over 300k.
I don't have good credit but a good job and 15,000 down payment plus the 7,500 tax credit with that being said do you think I can still get into a new tesla ?
Thanks for the breakdown of ownership costs. Still too expensive. To own..that insurance rate is.low..more like 200 a month with most companies and good driving record.. most people will not be able to afford a Tesla until they get price under 30k
The current model Y price with all incentives is insane and shows that smartest man in the world completely missed the boat on demand. The Y is now less expensive out the door than most Rav4s and Outbacks. Tesla has massive factories that can supply millions of cars annually but demand has fallen off a cliff and the tax incentives may go away quickly. It is really bad for a business to run its factories at partial capacity. Government mandates and picking winners rarely works and we are seeing a backlash. But Musk himself has done the most damage by alienating his core left leaning customers with his politics. Tesla should really start major advertising because on the merits, most people should buy the Y in the 45k segment. With the cheap Chinese government subsidized cars flooding the world, it’s going to be a challenging year.
Great info, really want to buy the YLR new but I’m struggling with but or road noise and stiffer suspension. Love how the new M3 feels but need more space
I was debating between new / old y too. I think if you want the fsd the go with a used that comes with it. I got a new one without fsd but I tried it today and its stunning good. If I knew I would have get the used one with fsd.
Great video! I love the transparency. Wondering if you can help me on the tax incentive. Looking into leasing the model y and have been using the Tesla calculator to figure out monthly payment cost. I could estimate a payment by putting down no down payment but the calculator doesn’t have the incentive in it. So when I go through and order and then get approved for the incentive I could use that as essentially a down payment correct? My monthly payment would then go down. Just trying to find out what the process is after ordering and seeing what the monthly payment is. Thanks!
From what I can tell on the Calculator is they take the $7500 tax credit and amortize it over the lease term affectively lowering your payment so it can't be used as your down payment
@@Myksgarage yeah that’s what I was thinking also but it’s confusing since the new model 3 also has that stated on it when using the calculator. It’s probably just a general calculator but still confusing from a user standpoint. Thanks!
@@michaelma6842 Referral program ended at end of April so you prob won't get anything using his referral link. Elon said Tesla is gonna introduce a global referral program in a few months. Also yes they removed all inventory discounts (except demo or 2023 vehicles if you see them) so only incentive right now is the 0.99% financing. They may do price cuts and/or inventory discounts again in the upcoming months but not sure what will happen with the 0.99% financing unless you're buying cash.
An average person should not think a $700 per month car note is reasonable. I understand he likely makes enough money but most Americans should not be spending that much on a depreciating asset. Buy a used one for 10k less if you want one but don't have a high income.
Are they kidding. The past 2 1/2 years billionaires thought them charge Corvette prices for a piece of crap Tesla ? One they battery sucks and is still dangerous. A gasoline car of this seating capacity comes with a fine interior, beautiful body and price of 22,000 to 28,000. The rub: the battery has not been perfected yet. Repair cost can run from 8,500 to 21,000 dollars. The environmental free aspect is a joke. Next the electronics are a nightmare. 1 they do not have built in diagnostics to help the mechanic diagnose the problem. When your car breaks down. The plethora of possibilities is exponential. They run from a burned out cell in the battery, the drive motor, the electronic heat and control system, electrical distribution system m, to the electronics. So shop time wait time 4 to 8 weeks. This also means no loaner car. Then the damage the bill. If your luck enough to be under warranty then you avoid this major cost. Last depreciation on electrical EV’s is worst than bmw. Who in their right mind buys anything that cost 50,000 to 120,000 to have it drop in worth to 10 to 15 thousand in 36 to 42 months. Elon musk will laugh all the way to the bank. The electronics are weak, the electrical distribution system is just waiting to burn up. Today’s current batteries are a crap shoot. The Tesla is a minimalist dream. Gaps on the outside, gaps on the inside. And you get a plastic cracker box.
I know that you said that you had a Model S previously. What were your impressions of that car? I love the stance and appearance and am debating between a used Model Y and a more-used Model S. Thoughts?
Thanks for the info and the steps. I wasn't aware you are able to put down less than the 10% Tesla expects you to. Are you only able to do that when you qualify?
You just adjust the Amount you want to put down and then submit the credit application. With having the tax credit applied to the price of the car it's like you're getting $7500 already down on the car.
IMO you shouldn't always follow the "im gonna wait cause there's gonna be a better deal later" because Tesla plays around with so many things like price cuts, financing, incentives, etc to get customers to buy. This 0.99% financing deal is amazing and ends May 31 but Tesla could easily bring it back in combination with inventory discounts in later months (like in Q3). But if they don't, then you will feel regretful for not buying when the 0.99% financing deal was there. As Myksgarage mentioned, they offerred FSD and free supercharging transfer to his new MY so it was a good deal and we have no idea if Tesla may bring this back later on or not.
That's a really good insurance rate. Progressive quoted me $271/month on a 2020 Model Y Performance with full glass, 100k/300k comp/collision with Rideshare coverage. Single male late 30s.
Thanks for the info but is this normal? There are exceptions but I would think that if I cant pay the car in full that would mean that I cant afford it even if it is only 3% interest.
Man, and I have been contemplating over a $490 a month payment on a 72 month on a 2024..I just figured many people pay cash for these cars. Something tells me to buy in the next few months, but another part of me says wait until after the election
It's possible the tax credits go away if Trump gets in office. It's hard to think these Ys will get any cheaper. Thanks for watching, good luck with car shopping!
If he can only afford $1000 down and finance “whopping 84 months”, it’s really not affordable for him. This is how people get into financial trouble. Fact is, he has lost so much money on his FSD purchase and has no choice but to buy another Tesla. Tesla gave him a hook (FSD transfer) he could not refuse. He also has not learned that the resale value on his prior Tesla was horrendous.
Sometimes I feel like I died and every morning waking up in a different country- everyone is able to afford $700 a month and I just can’t. Probably somethings wrong with me
Are you kidding me$700 a month for 84 months why don't you let people know how long 84 months is. That is 7 years who is dumb enough to pay for a car for 7 years you got to be kidding me. Total cost of car $59,000 with interest go buy a used Tesla or go buy a used car.
$618/month for 84 months is the principle and interest payment. The $85/month for insurance is the same regardless of whether you pay cash or finance or lease
