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How to Buy a New Tesla For $5000

Davidla

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This is based on @biophase original "How To Buy A Ferrari for 20k" thread from 2011..

At least one other member also executed something similar in the INSIDERS, but since it is private I will not comment on it (OP is welcome to add to the discussion if they wish).

I'm presenting a new twist on the idea..I recommend you read the original thread as I'm not going to talk too much about the general idea presented there.

So what's the Tesla plan?

A new Tesla 3 costs at minimum $40K...$44K with taxes where I'm located. The long range all wheel drive model is $55k.

I've test driven one last week..and have to say it would be fun to have one.

$44k-$55k on a depreciating asset? No way I'm spending that much on a toy..

But what if it can be an investment?

What if it can actually be two investments?

Here's the idea:

I've been looking at buying businesses.

I've been looking at businesses for a while now, and today a couple businesses in the $30k-$40k range, making $1K+/month popped up.

These businesses take 1-2hrs a week to run/maintain.

Financing the Tesla requires $5k at signing + $560-$750/month depending on the car options..so the business can finance the monthly costs of financing.

So here's the math:

Buy a business for $33k , making $1,200 profit a month.

This leaves $900/month after taxes.

Monthly Financed Cost of a Tesla: $750 for the more expensive one, Plus $200/month for insurance (can be less but I'm staying conservative) = $950/month.

Sweet. The business pretty much covers the cost of owning the Tesla.

Already a pretty good deal.

But not good enough.

Here's what makes this even sweeter:

Renting out the Tesla on Turo.

In my area, prices for model 3 go between $97-$149 a day.

Assuming an average rent price of $100/day and renting for 10 days a month (I'd price it low to get better occupancy), and platform taking 25% incl' insurance, that adds an additional $750/month.

This is conservative, as there are additional add on fees and it is possible to rent the car out 15 or 20 days out of the month as well.

Now here are the total numbers:

Out of Pocket (Assuming more expensive Tesla 3 Model):

$33,000 To buy Business
$5,000 To buy Tesla
$6,000 for Taxes

Total: $44,000 (which equals exactly the cost of just buying cheaper Tesla cash!)

Monthly Numbers:

Business making $1,200 month, $900 Net.

Car Renting on Turo: $1,000 month, $750 Net.

Total Income = $1,650/m

Expenses = $750 Car Payment, $200 Insurance = $950 /m

Cashflow = $1,650 - $900 = $700/m

Per year = $8,400

Add'l Benefits:

$1,725 Federal Tax Credit (EV car)
$5,000 State Tax Credit (EV Car)
Equity in car - Teslas keep value pretty well but I'm not sure how to calculate. Let's assume that the car is completely paid off after 3 years, and worth 60% of full price ($30,900 out of $51,500).

Divided by 3 years it would be $10,300 per year in 'equity'.

=$17,025 first year benefits.

Total First Year Cashflow + Benefits = $8,400 + $17,025 = $25,425

Now the conversation in my head changed from buying an unnecessary toy...to making $25,425 this year to drive a Tesla for fun :)

What am I missing?
 
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QDF

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This is based on @biophase original "How To Buy A Ferrari for 20k" thread from 2011..

At least one other member also executed something similar in the INSIDERS, but since it is private I will not comment on it (OP is welcome to add to the discussion if they wish).

I'm presenting a new twist on the idea..I recommend you read the original thread as I'm not going to talk too much about the general idea presented there.

So what's the Tesla plan?

A new Tesla 3 costs at minimum $40K...$44K with taxes where I'm located. The long range all wheel drive model is $55k.

I've test driven one last week..and have to say it would be fun to have one.

$44k-$55k on a depreciating asset? No way I'm spending that much on a toy..

But what if it can be an investment?

What if it can actually be two investments?

Here's the idea:

I've been looking at buying businesses.

I've been looking at businesses for a while now, and today a couple businesses in the $30k-$40k range, making $1K+/month popped up.

These businesses take 1-2hrs a week to run/maintain.

Financing the Tesla requires $5k at signing + $560-$750/month depending on the car options..so the business can finance the monthly costs of financing.

So here's the math:

Buy a business for $33k , making $1,200 profit a month.

This leaves $900/month after taxes.

Monthly Financed Cost of a Tesla: $750 for the more expensive one, Plus $200/month for insurance (can be less but I'm staying conservative) = $950/month.

Sweet. The business pretty much covers the cost of owning the Tesla.

Already a pretty good deal.

But not good enough.

Here's what makes this even sweeter:

Renting the Tesla out on Turo.

In my area, prices for model 3 go between $97-$149 a day.

Assuming an average rent price of $100/day and renting for 10 days a month (I'd price it low to get better occupancy), and platform taking 25% incl' insurance, that adds an additional $750/month.

This is conservative, as there are additional add on fees and it is possible to rent the car out 15 or 20 days out of the month as well.

Now here are the total numbers:

Out of Pocket (Assuming more expensive Tesla 3 Model):

$33,000 To buy Business
$5,000 To buy Tesla
$6,000 for Taxes

Total: $44,000 (which equals exactly the cost of just buying cheaper Tesla cash!)

Monthly Numbers:

Business making $1,200 month, $900 Net.

Car Renting on Turo: $1,000 month, $750 Net.

Total Income = $1,650/m

Expenses = $750 Car Payment, $200 Insurance = $950 /m

Cashflow = $1,650 - $900 = $700/m

Per year = $8,400

Add'l Benefits:

$1,725 Federal Tax Credit (EV car)
$5,000 State Tax Credit (EV Car)
Equity in car - Tesla's keep value pretty well but I'm not sure how to calculate. Let's assume that the car is completely paid off after 3 years, and worth 60% of full price ($30,900 out of $51,500).

Divided by 3 years it would be $10,300 per year in 'equity'.

=$17,025 first year benefits.

Total First Year Cashflow + Benefits = $8,400 + $17,025 = $25,425

Now the conversation in my head changed from buying an unnecessary toy...to making $25,425 this year to drive a Tesla for fun :)

What am I missing?















I've recently been looking at buying a Tesla, as means to support green energy and as a fun toy. I've test driven one last week to see how it is, and have been running some numbers on the purcahse.
Cool idea.

If I was buying a Tesla as a personal car, idk that I’d want to rent it out to other people tho lol

And don’t forget about potential depreciation tax write-offs

I believe you can front load all the depreciation over the first 2-3 years for a car like the Model 3, helping to reduce the cost even more, especially if you’re in a very high tax bracket.

I just got a new car and this is my plan. Maybe one of the tax experts can pitch in here...
 

GPM

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Hey David, if you do this make sure you keep updating the post to let us know how it goes!
 

Boychamp

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<iframe width="560" height="315" src="
View: https://www.youtube.com/embed/kWvs5H32Oyc
" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>


Saw this video awhile back, kind of similar to what you're saying
 
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ChrisV

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To make this even cheaper, get a lightly used one.
 

Davidla

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<iframe width="560" height="315" src="
View: https://www.youtube.com/embed/kWvs5H32Oyc
" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>


Saw this video awhile back, kind of similar to what you're saying

Cool @Boychamp.

Like @Valor was mentioning, in the video he goes into a bunch of tax writeoffs/depreciation that make this even better but I'd rather not go into atm as I'm not sure about the numbers.
 

Davidla

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Update: Just submitted a refundable deposit on the $33K business so I can get DD materials..
 
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csalvato

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This is based on @biophase original "How To Buy A Ferrari for 20k" thread from 2011..

At least one other member also executed something similar in the INSIDERS, but since it is private I will not comment on it (OP is welcome to add to the discussion if they wish).

I'm presenting a new twist on the idea..I recommend you read the original thread as I'm not going to talk too much about the general idea presented there.

So what's the Tesla plan?

A new Tesla 3 costs at minimum $40K...$44K with taxes where I'm located. The long range all wheel drive model is $55k.

I've test driven one last week..and have to say it would be fun to have one.

$44k-$55k on a depreciating asset? No way I'm spending that much on a toy..

But what if it can be an investment?

What if it can actually be two investments?

Here's the idea:

I've been looking at buying businesses.

I've been looking at businesses for a while now, and today a couple businesses in the $30k-$40k range, making $1K+/month popped up.

These businesses take 1-2hrs a week to run/maintain.

Financing the Tesla requires $5k at signing + $560-$750/month depending on the car options..so the business can finance the monthly costs of financing.

So here's the math:

Buy a business for $33k , making $1,200 profit a month.

This leaves $900/month after taxes.

Monthly Financed Cost of a Tesla: $750 for the more expensive one, Plus $200/month for insurance (can be less but I'm staying conservative) = $950/month.

Sweet. The business pretty much covers the cost of owning the Tesla.

Already a pretty good deal.

But not good enough.

Here's what makes this even sweeter:

Renting out the Tesla on Turo.

In my area, prices for model 3 go between $97-$149 a day.

Assuming an average rent price of $100/day and renting for 10 days a month (I'd price it low to get better occupancy), and platform taking 25% incl' insurance, that adds an additional $750/month.

This is conservative, as there are additional add on fees and it is possible to rent the car out 15 or 20 days out of the month as well.

Now here are the total numbers:

Out of Pocket (Assuming more expensive Tesla 3 Model):

$33,000 To buy Business
$5,000 To buy Tesla
$6,000 for Taxes

Total: $44,000 (which equals exactly the cost of just buying cheaper Tesla cash!)

Monthly Numbers:

Business making $1,200 month, $900 Net.

Car Renting on Turo: $1,000 month, $750 Net.

Total Income = $1,650/m

Expenses = $750 Car Payment, $200 Insurance = $950 /m

Cashflow = $1,650 - $900 = $700/m

Per year = $8,400

Add'l Benefits:

$1,725 Federal Tax Credit (EV car)
$5,000 State Tax Credit (EV Car)
Equity in car - Teslas keep value pretty well but I'm not sure how to calculate. Let's assume that the car is completely paid off after 3 years, and worth 60% of full price ($30,900 out of $51,500).

Divided by 3 years it would be $10,300 per year in 'equity'.

=$17,025 first year benefits.

Total First Year Cashflow + Benefits = $8,400 + $17,025 = $25,425

Now the conversation in my head changed from buying an unnecessary toy...to making $25,425 this year to drive a Tesla for fun :)

What am I missing?















I've recently been looking at buying a Tesla, as means to support green energy and as a fun toy. I've test driven one last week to see how it is, and have been running some numbers on the purcahse.

I did something very similar. It did not work out so well. Here’s some issues:

- Don’t forget Colorado’s ownership tax and nearly 10% sales tax on the vehicle. This will add significant coats and cut into your margin. Our ownership tax and registration in El Paso county was over $1200 ANNUALLY

- People on Turo suck and their policies are equally bad. We had a few fines of $50 and made $0 revenue from Turo because I didn’t trust any of the leads with our car.

- Teslas have a lot of problems that require you to leave the car at the service center for days or weeks. Every 2 months our car was stuck in the SC for a few days. This also causes even more depreciation since the ride to the SC is miles, and you can’t generate revenue while it’s in for service. This is even more true with the model 3 than our MX.

- It’s far more work than you’re implying. Most people want the car delivered to the airport which is going to be an hour round trip for you, and someone will need to drive you there. Or you will need a spot at a lot like Fine Airport parking which will cut into your margins and make this more expensive than you’re forecasting

Just my 2¢ as someone who has been there done that. Several people make it work, but that depends on what “work” means.

IMO, knowing you personally, I would say you can do better
 

csalvato

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I believe you can front load all the depreciation over the first 2-3 years for a car like the Model 3, helping to reduce the cost even more, especially if you’re in a very high tax bracket.

This is only true if the car is over 6k GVW. The model 3 does not fit that bill, but the model X does.
 

csalvato

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Of you really want to do this DM or call me. I’ll save you a ton of headaches. Also, buy used not new. Will save you 30-40% right out of the gate.
 
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QDF

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This is only true if the car is over 6k GVW. The model 3 does not fit that bill, but the model X does.
To qualify for the 100% first year depreciation, yes.

For the Model 3 and other passenger vehicles, you can still depreciate over $40k in the first 3 years.
 

csalvato

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To qualify for the 100% first year depreciation, yes.

For the Model 3 and other passenger vehicles, you can still depreciate over $40k in the first 3 years.

I was unaware of this. We had a MX we used 90% for business and my two tax pros both told me deducting mileage was more advantageous in our situation than front-loading depreciation, but I won't pretend to know why.
 

DaDream

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This is based on @biophase original "How To Buy A Ferrari for 20k" thread from 2011..

At least one other member also executed something similar in the INSIDERS, but since it is private I will not comment on it (OP is welcome to add to the discussion if they wish).

I'm presenting a new twist on the idea..I recommend you read the original thread as I'm not going to talk too much about the general idea presented there.

So what's the Tesla plan?

A new Tesla 3 costs at minimum $40K...$44K with taxes where I'm located. The long range all wheel drive model is $55k.

I've test driven one last week..and have to say it would be fun to have one.

$44k-$55k on a depreciating asset? No way I'm spending that much on a toy..

But what if it can be an investment?

What if it can actually be two investments?

Here's the idea:

I've been looking at buying businesses.

I've been looking at businesses for a while now, and today a couple businesses in the $30k-$40k range, making $1K+/month popped up.

These businesses take 1-2hrs a week to run/maintain.

Financing the Tesla requires $5k at signing + $560-$750/month depending on the car options..so the business can finance the monthly costs of financing.

So here's the math:

Buy a business for $33k , making $1,200 profit a month.

This leaves $900/month after taxes.

Monthly Financed Cost of a Tesla: $750 for the more expensive one, Plus $200/month for insurance (can be less but I'm staying conservative) = $950/month.

Sweet. The business pretty much covers the cost of owning the Tesla.

Already a pretty good deal.

But not good enough.

Here's what makes this even sweeter:

Renting out the Tesla on Turo.

In my area, prices for model 3 go between $97-$149 a day.

Assuming an average rent price of $100/day and renting for 10 days a month (I'd price it low to get better occupancy), and platform taking 25% incl' insurance, that adds an additional $750/month.

This is conservative, as there are additional add on fees and it is possible to rent the car out 15 or 20 days out of the month as well.

Now here are the total numbers:

Out of Pocket (Assuming more expensive Tesla 3 Model):

$33,000 To buy Business
$5,000 To buy Tesla
$6,000 for Taxes

Total: $44,000 (which equals exactly the cost of just buying cheaper Tesla cash!)

Monthly Numbers:

Business making $1,200 month, $900 Net.

Car Renting on Turo: $1,000 month, $750 Net.

Total Income = $1,650/m

Expenses = $750 Car Payment, $200 Insurance = $950 /m

Cashflow = $1,650 - $900 = $700/m

Per year = $8,400

Add'l Benefits:

$1,725 Federal Tax Credit (EV car)
$5,000 State Tax Credit (EV Car)
Equity in car - Teslas keep value pretty well but I'm not sure how to calculate. Let's assume that the car is completely paid off after 3 years, and worth 60% of full price ($30,900 out of $51,500).

Divided by 3 years it would be $10,300 per year in 'equity'.

=$17,025 first year benefits.

Total First Year Cashflow + Benefits = $8,400 + $17,025 = $25,425

Now the conversation in my head changed from buying an unnecessary toy...to making $25,425 this year to drive a Tesla for fun :)

What am I missing?







Once I have more time in my hands I will join the INSIDERS's group. This was a brilliant read for me.







I've recently been looking at buying a Tesla, as means to support green energy and as a fun toy. I've test driven one last week to see how it is, and have been running some numbers on the purcahse.
 

QDF

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I was unaware of this. We had a MX we used 90% for business and my two tax pros both told me deducting mileage was more advantageous in our situation than front-loading depreciation, but I won't pretend to know why.

That's very interesting, considering a MX is a potential $80k deduction. To get the same mileage deduction at $0.55 per mile, you'd have to drive ~145,000 miles. Of course, with the front-loaded depreciation, you wouldn't have much to write-off after the first year, but I like to look at front-loaded depreciation as a loan from the government in the form of a tax-break, so there's value in that as well.

I won't pretend to be an expert in this either. I haven't talked to my tax pro about this yet - I've only read up on it online a bit, so maybe someone else can chime in on the best way to write-off a car.

For a Model 3 (or any car under 6,000 GVW), however, the depreciation limits are the following:

Year 1: $18,000
Year 2: $16,000
Year 3: ~$10,000
Total: $44,000

If you used your car exactly half for business, which is the minimum to be eligible for the write-off, you'd write off $22,000 the first 3 years. If your total tax rate is 40%, you'd be saving yourself $8800 in taxes the first 3 years, which averages out to $244 per month.

I actually set up my car loan for the car I just bought in a way that the monthly payments should be covered by the tax savings the first few years. Although I'd be perfectly fine with or without the deduction.

This doesn't account for other itemizing deductions either.

Also, don't forget the gas savings of a Model 3. That should add up to at least $80-100 per month as well.
 

csalvato

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That's very interesting, considering a MX is a potential $80k deduction. To get the same mileage deduction at $0.55 per mile, you'd have to drive ~145,000 miles. Of course, with the front-loaded depreciation, you wouldn't have much to write-off after the first year, but I like to look at front-loaded depreciation as a loan from the government in the form of a tax-break, so there's value in that as well.

I won't pretend to be an expert in this either. I haven't talked to my tax pro about this yet - I've only read up on it online a bit, so maybe someone else can chime in on the best way to write-off a car.

For a Model 3 (or any car under 6,000 GVW), however, the depreciation limits are the following:

Year 1: $18,000
Year 2: $16,000
Year 3: ~$10,000
Total: $44,000

If you used your car exactly half for business, which is the minimum to be eligible for the write-off, you'd write off $22,000 the first 3 years. If your total tax rate is 40%, you'd be saving yourself $8800 in taxes the first 3 years, which averages out to $244 per month.

I actually set up my car loan for the car I just bought in a way that the monthly payments should be covered by the tax savings the first few years. Although I'd be perfectly fine with or without the deduction.

This doesn't account for other itemizing deductions either.

Also, don't forget the gas savings of a Model 3. That should add up to at least $80-100 per month as well.

We were driving a ton (over 30k miles per year), and I suspect that taking the full write off in the first year (via Section 179) was going to put my income into the negative, so it was more advantageous to spread it over several years, maybe...?

They showed me the figures, and at our rate of driving + deducting our electric bill, it was a tax savings of several thousand to do miles vs. writing off full depreciation. /shrug

Also, don't forget the gas savings of a Model 3. That should add up to at least $80-100 per month as well.

But also don't forget that EVs rip through tires and are 50%-200% more expensive than non-EV tires. We found that tire costs ate up all the savings in fuel costs to bring cost per mile to parity with an ICE... :(
 
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csalvato

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I like the plan except for the renting out the car part. You don’t need to do that.
I agree, most of my points are on the renting side of the equation. If you can do it without renting it out by buying a biz to generate the monthly payments, then this is very attractive.

Finance the car 100% (i have some contacts that can help with that) and buy a used one delivered in early 2018 for $50k at 5% and you'll be at $684/month in payments and won't need to waste money on FSD to get all the FSD features.

That beats a new one for the same spec by over $15k IIRC.
 

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I think the lesson here is even bigger: Don't waste money on depreciating assets (err, liabilities rather.) Imagine if you did this with every purchase. Rather than buying a flat screen TV, just put the money into advertising, then finance the television. I like this way of thinking.
 

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Well, technically about $6000 because it will cost about $1000 or maybe more nowadays to have a charger installed.
 
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csalvato

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Well, technically about $6000 because it will cost about $1000 or maybe more nowadays to have a charger installed.

Our charger only cost $300. But that's definitely a cost to take into account, as we had several quotes for 800-1200...even up to $5000.

I think the lesson here is even bigger: Don't waste money on depreciating assets (err, liabilities rather.) Imagine if you did this with every purchase. Rather than buying a flat screen TV, just put the money into advertising, then finance the television. I like this way of thinking.

Well, one could argue the revenue from buying the business can go into a kitty that can fund another business purchase within a few years, rather than funding a depreciating asset. But driving Teslas are fun, so... :)
 

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depreciating asset
Yea that's why I always buy used. I have friends who've owned dealerships and they always buy used too. Cars lose a good 20-30% of their value just by driving them off the lot. By getting something that's like 2-3 years old you can knock out at the steepest depreciation curve

25989

but i mean with the tesla, a lot of that depreciation will be money you saved in gas and tax refunds
 

csalvato

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but i mean with the tesla, a lot of that depreciation will be money you saved in gas and tax refunds
I'll reiterate here that the savings on Teslas for gas and tax refunds are overblown. The $5000 tax credit in CO gets eaten up by the higher ownership and sales taxes that come with an EV which is inherently more expensive than it's ICE counterpart. Same goes for the $1750 Fed credit.

We got 12.5k in tax credits which were mostly gone by the time we got the car home.

The gas savings are obliterated by the cost of tires.
 
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@csalvato Thanks for sharing from your experience..very good points.

I'm mostly considering this as a fun project..ROI wise I'm focusing on other projects ;)

So if Turo sucks for example, no problem dropping it.

EDIT: Saw you posted your take on renting, thanks!

I did something very similar. It did not work out so well. Here’s some issues:

- Don’t forget Colorado’s ownership tax and nearly 10% sales tax on the vehicle. This will add significant coats and cut into your margin. Our ownership tax and registration in El Paso county was over $1200 ANNUALLY

- People on Turo suck and their policies are equally bad. We had a few fines of $50 and made $0 revenue from Turo because I didn’t trust any of the leads with our car.

- Teslas have a lot of problems that require you to leave the car at the service center for days or weeks. Every 2 months our car was stuck in the SC for a few days. This also causes even more depreciation since the ride to the SC is miles, and you can’t generate revenue while it’s in for service. This is even more true with the model 3 than our MX.

- It’s far more work than you’re implying. Most people want the car delivered to the airport which is going to be an hour round trip for you, and someone will need to drive you there. Or you will need a spot at a lot like Fine Airport parking which will cut into your margins and make this more expensive than you’re forecasting

Just my 2¢ as someone who has been there done that. Several people make it work, but that depends on what “work” means.

IMO, knowing you personally, I would say you can do better
 
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Davidla

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I like the plan except for the renting out the car part. You don’t need to do that.

True..the renting part of the plan looks like more of a pain.

Can always try it and see what's really involved.

I'm not much of a car guy in general, so for example I don't mind other people driving it..and I'm traveling a few months out of the year anyway.
 

Davidla

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I agree, most of my points are on the renting side of the equation. If you can do it without renting it out by buying a biz to generate the monthly payments, then this is very attractive.

Finance the car 100% (i have some contacts that can help with that) and buy a used one delivered in early 2018 for $50k at 5% and you'll be at $684/month in payments and won't need to waste money on FSD to get all the FSD features.

That beats a new one for the same spec by over $15k IIRC.

I like the idea.

So to my understanding, the change here is paying lower taxes/total price and being able to finance 100%. The downside is not being able to deduct the $6,750.

Are there any tax benefits that could still be claimed with used?
 
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Raoul Duke

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I like the idea.

So to my understanding, the change here is paying lower taxes/total price and being able to finance 100%. The downside is not being able to deduct the $6,750.

Are there any tax benefits that could still be claimed with used?

 

csalvato

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I like the idea.

So to my understanding, the change here is paying lower taxes/total price and being able to finance 100%. The downside is not being able to deduct the $6,750.

Are there any tax benefits that could still be claimed with used?


IIRC (and please double check me) the CO tax credit can be claimed on any used vehicle that has not previously claimed the credit and will be registered in CO. Most user M3s are out of state, so you can buy a car from another state, and register it in CO and get the tax credit.

Again, please double check with your accountant (and if he says no, check with another one to be safe, since I believe I know a few people who have done this.)

The federal credit, however, has probably been claimed and is lost. But $5000 is still significant.

Any used vehicle should immediately be 20% less than the list price, even with 0 miles.

I was perusing several online Tesla-only marketplaces where there are PM3s listed for $55k which can probably be negotiated down to $50kish. For example:


The latter vehicle is $58k if you buy it new....$64k if you add on FSD

Image%2525202019-07-23%252520at%2525202.23.08%252520PM.png


Any 2018 shipped early in the year should have all the Full Self Driving (FSD) features such as Navigate on Autopilot, Summon and Autopark, which will save you another 6k if you care about those features. This is because they used to be bundled into the package of Enhanced Autopilot (EAP).

Most cars have aftermarket upgrades, as well, such as ceramic coating or upgraded wheels.

Also, your sales tax will be lower, and ownership on older vehicles (even 1-2 years) is significantly lower.

In general, if you buy out of state, a used Tesla will save you much more than the in-state tax credit on a new vehicle.

EDIT: One main thing that you may be missing is that Tesla recently unbundled the FSD package and reduced the price dramatically on the M3. So you will probably get some sellers who are anchored to their original sale price, which is 10k more than what Tesla would charge for the same spec today. Unfortunately, these sellers will need to readjust their expectations, so look for cars that have been listed for a while where these people have already been beaten down. This is also another reason why buying a new Tesla is stupid -- they have really hurt their early adopters by reducing prices and killing resale values. Better for you to be on the other side of that as a used buyer rather than a new buyer. As a used buyer, you also don't have to pay Tesla's documentation and delivery fees which are nearly $1200.
 

ecommercewolf

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The return seems good but like csalvato says there's a lot of issues that could come up that you did not account for in your original post that may not be the best use of time.

I'd be lying to you if I said I haven't thought of doing this as well since Tesla 3's typically rent for $140-150 a day in DFW.
 
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ryanbleau

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I would also get an insurance quote prior to purchase. My agent here in Scottsdale quoted me $5k a year due to it being an EV and the issue with battery fires being so hard to put out in the case of an accident.
 

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I think the Turo part would be a headache (especially after hearing about @csalvato 's experience). And you guys know what I think about fancy cars. :hilarious:

I'd be more concerned about the long-term business viability, but I've probably already ranted enough to you about that. It seems to be a reasonable valuation, though. Curious how it all pans out!
 

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