How I bought a Tesla for $78 Per Month

I just bought the $35,000 Tesla Model 3 and just like any 28 year old millennial adieu I ordered it online without ever having seen it and without ever having driven one before here's what happened I was browsing YouTube and happen to come across a video announcing the arrival of Tesla's $35,000 model 3 as I was watching that video I opened up a second tab in my browser just a speck went out for fun I honestly had zero intention of ever buying one it's just a guilty hobby of mine to go to car websites and spec out brand new cars just to see how expensive they would be so I went on Tesla's website and got to work the standard range model 3 begins that their promised price of $35,000 but I quickly realized that if you increase your budget just a modest $2,000 you'll get an extra 20 miles of range a slightly higher top speed power adjusted seats premium interior and upgraded audio which honestly seems like a decent value then we get to colors if you get any other color besides black it'll cost you up to $2,500 more if you want rent now I'm all about saving money as we all know so we're going with black today next do they give you the option to upgrade to 19-inch wheels for an extra $1,500 nope that's not gonna happen now we have the choice of interior color either black or white but white is an extra $1,000 and I would be worried about getting that dirty so black it is and finally we have auto pilot for an additional $3,000 the car will stay in its own lane and keep pace with traffic a must-have for anyone lazy like me they also offer full self-driving capability for an extra five thousand dollars this includes navigating highways summoning your car and a few other technologically amazing feats but for $5,000 I think I could just do that myself so now within just a few minutes in less time than it takes to make a bag of popcorn in the microwave I was done configuring a Tesla Model 3 however it should come as no surprise that the $35,000 Model 3 is not really a $35,000 Model 3 my just-for-fun spec car with very few options came to a whopping $40,000 classic bait-and-switch am i right well kind of even though the car is technically a $40,000 car it's hard not to focus on the number at the bottom of the screen where it says price after estimated savings so how does a $40,000 car come down to a price of twenty nine thousand four hundred and fifty dollars well to start this car is eligible for a three thousand seven hundred and fifty dollar federal tax credit until June 30th 2009 teen this means if you pay more than that in federal taxes you will receive this entire mountebank at the time you file your tax return that money is pretty much as good as cash California drivers are also eligible for a twenty five hundred dollar electric vehicle rebate in which the state will literally mail you a check back for twenty five hundred dollars upon showing proof of purchase no Tesla gets a little bit sneaky after this because in that twenty nine thousand four hundred and fifty dollar figure Tesla also includes the estimated gas savings over six years of ownership which comes to about forty three hundred dollars now from my perspective this would apply to any electric car you purchase not just Tesla so this is really only comparable if the buyer was to otherwise buy a gas powered car so excluding the gas savings and only focusing on the first two cash value rebates the actual price of the car comes to thirty three thousand seven hundred and fifty dollars for a brand new Tesla standard range plus with autopilot now maybe I'm just impulsive maybe I'm delusional but it was honestly at this point that I just figured you know what why not that's a pretty good deal I'm just gonna go ahead and buy it so I did I even got a picture of a lemur once I placed the order and I have to say coming from someone who's purchased several cars before this was by far the easiest car buying experience I have ever had in my entire life there was no driving around spending hours at car dealerships I didn't have to pretend like I was disinterested just so I can spend days negotiating the price down there weren't any dealership upsells I didn't have to receive random calls from car salesmen calling me every few days to follow up if I had found something yet no Tesla was different it was as easy as clicking buy it now on Amazon and it was amazing now I had originally intended to purchase the car outright in cash but I couldn't help but notice their offer soon after I placed my deposit 100% financing for 72 months at a 3.75 percent interest rate that's low and at that interest rate I'd get a better return investing my money literally anywhere else instead of buying the car in cash so just like the car I figured you know what why not I'm going to do it and I applied for financing ten hours later I was approved this means that my total out-of-pocket cost to buy a brand new Tesla Model 3 was four thousand four hundred and thirty seven dollars and one cent which included sales tax the license fee and registration that was it and now with that out of the way I couldn't help but wonder could they actually fulfill their promise delivery time of two weeks so now it's officially one week after placing the order with absolutely zero update whatsoever from Tesla I feel like a kid logging in every single day and the Tesla account just to see if there's any update that's been posted but there's never any update looking online for answers really isn't much better either because no one else has any clue what's going on and no one has any idea how long this can actually take some people are quoting an Elon Musk tweet saying that the cars will actually be ready in June and not March and some people doubt his ability to actually just make a decent car so the sentiment isn't really looking good right now but I will keep you posted so now it's officially 14 days since placing the order and I just logged online and saw that they changed the new delivery date to March 29th this is exactly one month after placing the order and two weeks longer than they expected it to take to me I definitely feel like Tesla overestimated just how fast they can get these cars out here to try to get people to order them who would think that don't get their cars a lot faster than they really will and I mean I can't totally blame Tesla for this because it worked it's kind of like telling someone you're five minutes away when in reality you're ten minutes away and then after that person's already waited five minutes for you what's another fine minutes so the same thing could absolutely be said about ordering a Tesla this is the 2019 Tesla Model 3 and today is my first day owning the car and we're gonna be going over all the quirks and features and then we're gonna give it a grand score I've always wanted to say that but no in all seriousness today is my first day of getting the car and I have to say that I absolutely love it and of course when I was looking online I read a lot of issues about panel gaps and poor paint jobs and scratches everywhere I couldn't find a single thing wrong with this car my only issue with this if there is anything is that you have to slam the driver's side door for it to properly closed if you don't give it a good slam it's not going to close all the way I'm not sure if that's just a Tesla thing or if that's just my specific car but other than that this car personally is perfect and of course just as a friendly reminder if you haven't already smashed that like button yet make sure to do so otherwise you're gonna get League Mon and honestly the entire process of going and picking up a Tesla was amazing it was like walking into a high-tech minimalistic Apple store where there must have been two employees for every one customer so anything you would need was pretty much attended to immediately and after going through the experience of buying a Tesla online completely sight unseen without ever having driven one before I honestly have to say that I don't see the concern of Tesla not having any physical car dealerships to buy cars from I just think we're naturally entering an era where everything is done online like I haven't been to a physical store to buy anything in ages just because it's a lot easier and more convenient to go and buy that item online and also the online stores tend to be a lot cheaper because those stores have less overhead and they passed that savings on to the customer and sure this online ordering method isn't for everybody I think my parents still love going to physical stores and like going to an actual bank to deposit a check but I also think we just instinctually prefer what we're accustomed to and what we find normal that we grew up with and I think for a lot of people who grew up with the internet it's just going to seem normal to go and start to buy cars and maybe eventually buy houses just online so you might be wondering now how did I get this car for $78 and 39 cents per month well here's how now because I financed 100% of the car my only out-of-pocket cost was taxes insurance and registration and that came to four thousand four hundred and thirty seven dollars and the one cent now because I financed the cost of the car this means I now have a monthly car payment to make this car payment is six hundred and forty dollars per month which works out to be seven thousand six hundred and eighty dollars per year this means that my total cost to buy this car in the first year including monthly payments taxes license and registration comes to twelve thousand one hundred and seventeen dollars and of course one cent however even though I've paid that amount out-of-pocket I will get back twenty five hundred dollars from California's EB rebate program I'll get back another three thousand seven hundred and eighty dollars from the federal tax credit which remember is all money that I get back and that brings down my total cost of ownership in the first year to five thousand eight hundred and sixty seven dollars and one cent but wait there's more it gets even better because I bought this car specifically for business use which means the fourteen hundred and thirty eight dollars in interest that I pay financing the car is a tax write-off I also get to write off the four thousand four hundred and thirty seven dollars in taxes licensing and registration as a tax write-off I can also depreciate the value of the car about eighty two hundred dollars in the first year all of that combined works out to be about a fourteen thousand dollar tax write-off which should save me about four thousand nine hundred and twenty five dollars in taxes so remember like I said my total out-of-pocket costs to buy this car in the first year is five thousand eight hundred and sixty-seven dollars and one cent plus on top of that like I said I'm saving four thousand nine hundred and twenty six dollars on my taxes which means that when you reduce that from the total amount and you divide that over a year it's effectively like I'm buying a brand new Tesla Model 3 for the out-of-pocket cost of seventy eight dollars and thirty nine per month and realistically this works out to be a free car when you consider that most of that six hundred and $40 a month car payment is principle it's not interest and also the fact that I'm leveraging my money by borrowing it at 3.75 percent to go and invest it elsewhere that will actually make me more money than paying down the car in full in cash but now in terms of actual out-of-pocket net cost to own the car seventy eight dollars and thirty nine cents per month for a Tesla Model 3 brand-new so here's a fun little thing right now but my dad has no idea that I got the car and I'm just gonna go and show up and surprise him with it I just told them right now that like hey I'm you know I'm close by let me just stop by really quick he probably thinks it's a little out of character for me just to be like showing up randomly but anyway let's see what his reactions going to be [Music] come on man gram a freaking Tesla dude told ya this is incredible [Music] take me for right now block dude I won't put your seat belt Graham yeah it's that one of the best choices you've ever knew right now holy crap yeah I didn't anyways look at this oh is this amazing do it oh that's that is just like you like hoes I love the color gram oh my god oh is this the S no no the small three nice brand new model three oh wow great that's cool yeah right here

Channel: Graham Stephan

Views: 6,048,336

Rating: 3.8208477 out of 5

Keywords: tesla model 3, tesla model 3 review, tesla model 3 autopilot, tesla model 3 performance, tesla model 3 electric car, tesla model s, new vs used car, buy vs lease car, buy or lease a car, how to invest, how to invest in real estate, how to invest in stocks, tesla stock, model 3 review, model 3 vs model s, how i bought a tesla, 78 dollar tesla, financing a car, how to buy a car, how to invest in real estate for beginners, stock market investing for beginners, passive income

Id: kWvs5H32Oyc

Length: 12min 51sec (771 seconds)

Published: Wed Apr 03 2019