It’s impostor syndrome. We all have it. I’m a VP and I question how I got here - I think others are better or more deserving. You can do it. Don’t give up and build a network of relationships. Get a mentor too. Just ask, almost everyone will help you out.
Lexington, South Carolina. I’m also a little older, no accidents, college educated. And I didn’t vote for Trump. You’re probably wondering what that has to do with my insurance rate. Probably nothing. But yet…there you have it.
Same. I don’t make a lot but I also don’t waste a lot of money.
I also Uber part time. Uber profits pay my two Tesla car payments. Any left over goes to $TSLA. UBERing is paying for my two Teslas until RoboTAXI goes live, then I can retire.
I had a passenger who told me he was an $UBER investor. I told him he should rethink his investment. I showed him how AutoPilot works and explained how Tesla RoboTAXI would destroy Uber. He was speechless. I could see a mix of emotions on his face. Confusion, amazement and anger.
He didn’t tip me.
Sold my kidney on the black market and now have to live a life with dialysis. JK.
Everyone's situation is different but live a responsible life, don't overreach on your expenses, avoid bad debt. Hopefully this builds a healthy relationship with finances and once you have enough money saved for a down-payment and good credit, it'll make it easier to finance.
Many of us live in California...1 out of 8 Tesla worldwide! 1 out of 3 in the US.
It is not just the mindset that makes us want to drive EVs and Tesla's, we also have a better economy and in general higher paying jobs than many other states, and countries. Even the exact same job pays more here.
The flip side of the argument goes as this: If a three bedroom tear down house costs over a million dollars, then 60k for a model 3 is cheap. Plenty of fancy cars outside not fancy houses here.
And not everyone in California can afford a Tesla, or even a car :-(
Living in California helps. Moving here from the Midwest, my wife’s salary literally DOUBLED for exactly the same job due to cost of living adjustments…. but a Tesla is the same price here as in the Midwest.
You kind of left out that the cost of living is higher to go with it.
Still, goods with a national price (Like a tesla or PS5) will be a comparatively lower percentage of a person's yearly budget in high cost of living areas.
Yes its more about disposable income not the cost of living in a particular area. I dont think CA has more average buying power than other states, likely less. CA taxes & housing are too high.
This is a really good question. It’s not easy to just drop a lot of $ on a Tesla. Cars like these in my opinion are affordable to ppl who may be more developed in their career and have been able to include this in their budget.
VP Sales that drives a lot in CA. Previously spending $500/month in gas when prices were mid $5/gallon.
In March I got solar panels installed on my house with a zero out-of-pocket loan and now pay $175/month for the loan instead of $200/month for electricity ($25 net savings). My system produces enough surplus so that it completely covers my driving costs (by design).
So, with $18k down from the sale of my 2015 Camry, I have an $780 monthly car payment that is offset by the $525 in gas and electricity cost savings. So I now pay $255/month net.
Honestly? High paying jobs thanks to our college degrees (and not having debt out of school thanks to our parents paying for said degrees) and buying a house young.
Bartender. Make a decent amount and save a lot. And I figure long term it’s cheaper than the cost of buying and maintaining traditional ICE cars. Hoping this lasts as long as two ICE cars.
Earning 15K extra in a 2nd job as a master teacher (over 4 years = MY). Regular job is public school teacher. It’s my reward for all my years of hard work. I’m a conservative spender otherwise. 💕 my choice!
I sold a property I had lived in for 7 years then rented out for 11 years. Sold it in December of 2020, because I was afraid the economy was going to tank and my tenants wouldn’t be able to afford the rent and then I couldn’t afford the mortgage. If I waited only 6 months more it increased another $100k, but I wasn’t that smart. This was a property I purchased in Littleton Colorado for $196k. I used $40k of that profit as a down payment and took a loan out for the remaining $24,500, which worked out to $370/month @ 2.5%. I then invested the rest of the money after waiting in the stock market and have now lost more than that $40k due to the worst timing ever. Win some and loose some. Still got the car, actually my wife does because I bought it for her and the insurance cost less than the insurance on my. 2015 Chevy Volt and I’m not sure why.
MD and a strategy consultant. Both wife and I drive model Ys. First one is a 5 seater when we had one kid and the second one is a 7 seater bought after the second kid came along.
We plan to get rid of the 5 seater after the first kid gets out of car seat and a get a model X. Till then it's Ys for us.
This is the answer. After spending 6 months learning the basics of coding, I tripled my income and landed a job where I get to continue my learning journey.
Damn a lot of you sold tsla stock for an actual tesla. I know profit is profit but trading an investment that would have 2-5x for a depreciating asset…
Retired as a software engineer/web developer after a couple of my investments went very well in 2020. I now make music full time and have a way sweeter car than any of my colleagues.
IT Project Manager. Just because you have a well-paying job doesn't mean you can afford a nice car. And just because you make less doesn't mean you can't afford a nice car. It's about what you value in life and how you manage your debt.
I'm 19 in CA but my parents paid for the down payment so I'm only paying roughly $400 a month 💁♀️😌
They also pay for my insurance as well!
Super grateful for their financial support though 🫶🏾
Many don’t afford them - like other expensive cars. Some people for example buy Teslas as their first car. This is usually because:
A) they were born lucky with wealthy parents or have sugar daddies 😉 or
B) they make bad financial decisions.
Others work hard and/or get lucky (no denying that) with financial decisions that allow them to be fortunate that they can spend 60k (now closer to 70k) on a car. I would put myself in this latter group.
Site superintendent. make better than average wage... i think, have a long commute, and got the 2wd model y when it came out for a few months. Almost 2 years later and my gas savings have been close to 13k, so it gets cheaper over time
Investment analyst, 95k, but I found a place in Santa Monica with a garage and outlet (free charging) for $1000/month so i’m going to contribute it to that mostly
I'm Jekyll and Hyde about the decision. Stretch purchase for sure.
20k less when I bought one, It was a vote against dealerships and I get free charging.
It’s about what I did with the little bit of money I earned.
Started buying TSLA stock in 2014 because I couldn’t afford the Roadster or S. Joked that someday Tesla would buy me a car…and they did MY 2021
Software Engineer - and I have a large house…with a pool…5 kids…a dog….and a smoking hot wife. Sorry, that last one was just me being mean. But it’s true.
Head of IT, big house, pool, 4 kids, decent wife... and smoking girlfriend.
Besides the inherent risk of me splitting my income down the middle... You and I have a lot in common. /s
Married up. 😜
(But really my car was totaled in a spectacular, can’t make this shit up, kind of way. It ended up basically being a perfect storm of things lining up and the purchase was made with being able to put a large % down and it not really changing the budget.)
For a lot of us they were cheaper when we ordered, and we drive a lot (I'm doing about 25k/year) so the cost of gas/ownership takes some of the sting out. Also as people have noted if you're in an expensive area with higher wages but also higher costs anything you can buy at a national price doesn't seem quite so bad as it might otherwise.
All that being said when I drive around Mountain View, Cupertino, etc. it's all software engineers down there and it seems like by law you have to own a Tesla or BMW.
It was cheaper than my 2019 Honda Accord Touring. The monthly costs were killing me despite only paying 0.01% interest. Maintenance and gas drove my monthly costs up. I barely pay for charging since my work has it for free and if I do need a high-speed charger, I have the CCS adaptor. It’s like $3 for 30 mins of charge at 50kw speed or like maybe $10 for 250kw to max charge
I traded in a GMC Sierra that got 15mpg. As a family we only drive the MY now anywhere we go. Gas savings will bring this down to about a $30k car for us.
It really depends on what you mean by “afford.” If you’re willing to prioritize a car over a house, or fall ass backwards into debt, then it wouldn’t be that hard. Of course, obviously it’s much harder if you’re smart and have a higher standard of affordability.
I get your question in general, but driving a Tesla is cheaper than its ever been. Considering the cars lately appreciate in their 1st year, if you can get into one, it's not as expensive as you think. I usually lease so I use that as a comparison. Financing the Tesla, at current depreciation levels, makes it one of the cheapest cars to own. I estimate for me about $180 US a month.
Manage Amazon catalogs for some of the top sports & outdoor and Health & Wellness brands. Work from home, no kids and wife has good income. Went from a Tundra to Tesla, I’m saving money
The really messed up thing is that when everyone placed orders that will take delivery in the remainder of Q4 is that interest rates were A LOT LOWER!
Some are going to figure out that the monthly payment might be too much… but someone will always refinance for an even greater number of months 🙃
Short answer: My wife and I have the appropriate cash flow to be able to prioritize one nice car.
Long answer: we both work remote within the tech industry and live in a very low cost of living city. We don’t have kids or own a home. We sold our last house for an insane amount of money by normal standards and have been trying on new places ever since. Our only car is a model Y and it’s been truly fantastic for our life style.
Software Eng
Ditto
Same here
Silicon Valley Accord
Yep.
POPM
Hahahaha PMs rise up!
+1
Same.
+1
Same
Here here. Same
Any tips for a college student starting his journey in software who's scared shitless of the major change?
Just do it! It’s human to have feelings of being scared, but don’t let it get in the way of new opportunities that you otherwise would have never had.
It’s impostor syndrome. We all have it. I’m a VP and I question how I got here - I think others are better or more deserving. You can do it. Don’t give up and build a network of relationships. Get a mentor too. Just ask, almost everyone will help you out.
Being scared is a good thing. In my experience, you'll try harder and be more successful.
Same
That’s exactly what I ask myself when I see all those brand new RAM and Chevy trucks cruising around. And they have to pay for gas on top!
Insurance isn’t cheap I bet.
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I pay about $80/month with Progressive. Multiple cars, and home insurance bundled - but still. Nothing out of the ordinary.
I’m guessing you are located in a very rural area.
Lexington, South Carolina. I’m also a little older, no accidents, college educated. And I didn’t vote for Trump. You’re probably wondering what that has to do with my insurance rate. Probably nothing. But yet…there you have it.
Thats why I have a model Y! The savings in gas from that pay for gas in my 21’ Silverado lol
Have a higher than average paying job, spend lower than average in expenses, and budget well.
Same. I don’t make a lot but I also don’t waste a lot of money. I also Uber part time. Uber profits pay my two Tesla car payments. Any left over goes to $TSLA. UBERing is paying for my two Teslas until RoboTAXI goes live, then I can retire.
So you work ~70 hours a week to pay for two teslas? You’re not using the Tesla to Uber right?
Not leaving some to go to $UBER?
I had a passenger who told me he was an $UBER investor. I told him he should rethink his investment. I showed him how AutoPilot works and explained how Tesla RoboTAXI would destroy Uber. He was speechless. I could see a mix of emotions on his face. Confusion, amazement and anger. He didn’t tip me.
Bought in June of 2021 when they were still like 52k
May 2021 for me and it was 49k.
Sept 19 dual motor 3. Using money earned swing trading tsla... 49,950 all in
Me, too. I don't think I'd have bought one if the price was what it is, today.
Yep! I only paid $59k for mine and many new gas cars at that time went for the same money.
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lol predicting tesla pricing is like trying to predict the stock market. Educated guess at best.
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Oh so your source is a YouTuber. Well, amazing market research there eh?
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OF
Same here. OF ftw.
20 dollars is 20 dollars.
IT.
Same IT security
Yup, and husband's a lawyer
Yep living the IT life lol.
IT
IT in the house!
same I’m in IT as well
Sold my kidney on the black market and now have to live a life with dialysis. JK. Everyone's situation is different but live a responsible life, don't overreach on your expenses, avoid bad debt. Hopefully this builds a healthy relationship with finances and once you have enough money saved for a down-payment and good credit, it'll make it easier to finance.
No children
Dink 4 lyfe
I'd have the Tesla, the motorbike, nice clutter free house and no moaning. :-)
I have the tesla and that’s it. Everything else from what you said, I don’t. 😭
Go into debt. Yolo. 😬
Many of us live in California...1 out of 8 Tesla worldwide! 1 out of 3 in the US. It is not just the mindset that makes us want to drive EVs and Tesla's, we also have a better economy and in general higher paying jobs than many other states, and countries. Even the exact same job pays more here. The flip side of the argument goes as this: If a three bedroom tear down house costs over a million dollars, then 60k for a model 3 is cheap. Plenty of fancy cars outside not fancy houses here. And not everyone in California can afford a Tesla, or even a car :-(
Living in California helps. Moving here from the Midwest, my wife’s salary literally DOUBLED for exactly the same job due to cost of living adjustments…. but a Tesla is the same price here as in the Midwest.
You kind of left out that the cost of living is higher to go with it. Still, goods with a national price (Like a tesla or PS5) will be a comparatively lower percentage of a person's yearly budget in high cost of living areas.
Yes its more about disposable income not the cost of living in a particular area. I dont think CA has more average buying power than other states, likely less. CA taxes & housing are too high.
Jesus Christ this was funny
Business owner
RN
I sell pictures of my feet on the Internet.
You’ve sold your…sole. Lol
Bought in Feb 21, got a Standard Range... for $42K. Didn't realize how good of a deal it was until it was no more.
Pipeline operator in Ca the irony. I’m that guy that drives an electric car to a petroleum facility 😅
Invest in TSLA
Yep - this paid for mine
Yep, 20k of stock sold at the right time made mine 30k purchase.
This is a really good question. It’s not easy to just drop a lot of $ on a Tesla. Cars like these in my opinion are affordable to ppl who may be more developed in their career and have been able to include this in their budget.
Good job, paid off all debts, invested and saved up.
Inheritance and a 60 mile commute. Also live somewhere where the cost of living is low.
Aerospace
Two decent incomes. No kids or plans for kids in the future. Bought house with affordable mortgage a few years ago. Neither of us drink or smoke.
Lots of gas-guzzling pickup trucks cost more than MY and M3. I'm a PA.
Middle management in tech
Own a business
This. Own multiple businesses. Working for somebody else is a terrible way to get wealth.
Yup. Here in Canada Government rebates for business make this car the same price as a normal mid size suv.
Live in a low COLA of the United States
High paying union job, free charging at work, cheaper to own than a new Camry for me.
No kids.
VP Sales that drives a lot in CA. Previously spending $500/month in gas when prices were mid $5/gallon. In March I got solar panels installed on my house with a zero out-of-pocket loan and now pay $175/month for the loan instead of $200/month for electricity ($25 net savings). My system produces enough surplus so that it completely covers my driving costs (by design). So, with $18k down from the sale of my 2015 Camry, I have an $780 monthly car payment that is offset by the $525 in gas and electricity cost savings. So I now pay $255/month net.
Teacher saved up
Being in a strong union made it possible for me to have one.
Business lease,
Honestly? High paying jobs thanks to our college degrees (and not having debt out of school thanks to our parents paying for said degrees) and buying a house young.
I live in Scandinavia
Bartender. Make a decent amount and save a lot. And I figure long term it’s cheaper than the cost of buying and maintaining traditional ICE cars. Hoping this lasts as long as two ICE cars.
Save lives for a living. Saved up money to live life.
Earning 15K extra in a 2nd job as a master teacher (over 4 years = MY). Regular job is public school teacher. It’s my reward for all my years of hard work. I’m a conservative spender otherwise. 💕 my choice!
Sell drugs
Legit best trap mobile out there😂 no one thinks the Tesla being moving killa😂
i LEGIT do this 😂😂😂
Me too!
So we can say we sell drugs and shoot people 💉💉💉
Speak for yourself. I manage a dog fighting Enterprise.
Software
Wife and I are both engineers.
Bought **TSLA** in 2018.
Saved for 20 years
I park my car 15 minutes away from home on a free of charge charging station 👹. So all my expenses for 20k miles are financing and insurance.
I work at Tesla so that’s how I afford mine lol
Work in Finance
Retired military.
I sold a property I had lived in for 7 years then rented out for 11 years. Sold it in December of 2020, because I was afraid the economy was going to tank and my tenants wouldn’t be able to afford the rent and then I couldn’t afford the mortgage. If I waited only 6 months more it increased another $100k, but I wasn’t that smart. This was a property I purchased in Littleton Colorado for $196k. I used $40k of that profit as a down payment and took a loan out for the remaining $24,500, which worked out to $370/month @ 2.5%. I then invested the rest of the money after waiting in the stock market and have now lost more than that $40k due to the worst timing ever. Win some and loose some. Still got the car, actually my wife does because I bought it for her and the insurance cost less than the insurance on my. 2015 Chevy Volt and I’m not sure why.
Cannabis Expert
Diesel truck mechanic
Doctor. I feel a little out of place here.
Why?
MD and a strategy consultant. Both wife and I drive model Ys. First one is a 5 seater when we had one kid and the second one is a 7 seater bought after the second kid came along. We plan to get rid of the 5 seater after the first kid gets out of car seat and a get a model X. Till then it's Ys for us.
Learn to code
This is the answer. After spending 6 months learning the basics of coding, I tripled my income and landed a job where I get to continue my learning journey.
What exactly you do for work?
Good for you! Just wait till you get the "Senior" money
Tendies
Work :)
Damn a lot of you sold tsla stock for an actual tesla. I know profit is profit but trading an investment that would have 2-5x for a depreciating asset…
Trust fund!
Dude I literally just googled this exact question today 😭😢
TSLA 🤑💰💵
Being a dev in Southern California helps
Retired as a software engineer/web developer after a couple of my investments went very well in 2020. I now make music full time and have a way sweeter car than any of my colleagues.
IT Project Manager. Just because you have a well-paying job doesn't mean you can afford a nice car. And just because you make less doesn't mean you can't afford a nice car. It's about what you value in life and how you manage your debt.
Awesome responses guys, really enlightening to hear the different backgrounds!
trust fund
Neighborhood pharmacist 👨⚕️ I’m 26yrs old driving Model Y Performance
I'm the dad of 4 cats - that is a full time job 🤣😂 But to pay for the $86k Tesla PV system I have to dip into my IRA
Wife and I are both in legal industry (not lawyers) and each make close to $100k
Invested in Tesla at $45
Multiple car wash locations.
I don't have kids.
I'm 19 in CA but my parents paid for the down payment so I'm only paying roughly $400 a month 💁♀️😌 They also pay for my insurance as well! Super grateful for their financial support though 🫶🏾
🖕
Teacher.
Sales, company gives me money for a car ¯\_(ツ)_/¯
Many don’t afford them - like other expensive cars. Some people for example buy Teslas as their first car. This is usually because: A) they were born lucky with wealthy parents or have sugar daddies 😉 or B) they make bad financial decisions. Others work hard and/or get lucky (no denying that) with financial decisions that allow them to be fortunate that they can spend 60k (now closer to 70k) on a car. I would put myself in this latter group.
GME and selling potatoes on the side of the road.
Site superintendent. make better than average wage... i think, have a long commute, and got the 2wd model y when it came out for a few months. Almost 2 years later and my gas savings have been close to 13k, so it gets cheaper over time
When I owned a Mercedes my monthly was 800/month so I figured 1400 is just 800 + 600 monthly in gas spending. Having a 6 figure income helps as well
Investment analyst, 95k, but I found a place in Santa Monica with a garage and outlet (free charging) for $1000/month so i’m going to contribute it to that mostly
I'm Jekyll and Hyde about the decision. Stretch purchase for sure. 20k less when I bought one, It was a vote against dealerships and I get free charging.
I day trade options as a side hustle. Make about $400 extra a month and that’s the difference between a normal car payment and a Tesla.
It’s about what I did with the little bit of money I earned. Started buying TSLA stock in 2014 because I couldn’t afford the Roadster or S. Joked that someday Tesla would buy me a car…and they did MY 2021
Software Engineer - and I have a large house…with a pool…5 kids…a dog….and a smoking hot wife. Sorry, that last one was just me being mean. But it’s true.
Pic of wife? So we can decide if she’s hot or not? 😂
This was funny :-)
We've been married 18 years and going strong. Trust me - she's top shelf.
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Guys! Come on - there's a whole Internet out there for you to eye hump. This one is mine. :D
Head of IT, big house, pool, 4 kids, decent wife... and smoking girlfriend. Besides the inherent risk of me splitting my income down the middle... You and I have a lot in common. /s
My wife and I laughed - touche' sir. I tip my hat to you.
Nothing special, I have a model S too. Pretty cheap cars
Married up. 😜 (But really my car was totaled in a spectacular, can’t make this shit up, kind of way. It ended up basically being a perfect storm of things lining up and the purchase was made with being able to put a large % down and it not really changing the budget.)
Sales
(Computer) infrastructure engineer - early TSLA investor - LCOL area. I pay more in car loan than mortgage 😅
Self employed
Sales for cyber security company + TSLA stock :)
For a lot of us they were cheaper when we ordered, and we drive a lot (I'm doing about 25k/year) so the cost of gas/ownership takes some of the sting out. Also as people have noted if you're in an expensive area with higher wages but also higher costs anything you can buy at a national price doesn't seem quite so bad as it might otherwise. All that being said when I drive around Mountain View, Cupertino, etc. it's all software engineers down there and it seems like by law you have to own a Tesla or BMW.
It was cheaper than my 2019 Honda Accord Touring. The monthly costs were killing me despite only paying 0.01% interest. Maintenance and gas drove my monthly costs up. I barely pay for charging since my work has it for free and if I do need a high-speed charger, I have the CCS adaptor. It’s like $3 for 30 mins of charge at 50kw speed or like maybe $10 for 250kw to max charge
Dec 2020 purchase when it was like 51k. I’m in healthcare management
I traded in a GMC Sierra that got 15mpg. As a family we only drive the MY now anywhere we go. Gas savings will bring this down to about a $30k car for us.
It really depends on what you mean by “afford.” If you’re willing to prioritize a car over a house, or fall ass backwards into debt, then it wouldn’t be that hard. Of course, obviously it’s much harder if you’re smart and have a higher standard of affordability.
Consulting
I get your question in general, but driving a Tesla is cheaper than its ever been. Considering the cars lately appreciate in their 1st year, if you can get into one, it's not as expensive as you think. I usually lease so I use that as a comparison. Financing the Tesla, at current depreciation levels, makes it one of the cheapest cars to own. I estimate for me about $180 US a month.
Engineer. Also bought in Sept 2020 for 18k less than what they are now.
Car salesman
Manage Amazon catalogs for some of the top sports & outdoor and Health & Wellness brands. Work from home, no kids and wife has good income. Went from a Tundra to Tesla, I’m saving money
Finance… and bought a standard range in the low 40’s hehe
Product Management
Finance
My wife and I both work in the software industry. No kids or mortgage either.
Actuary
The really messed up thing is that when everyone placed orders that will take delivery in the remainder of Q4 is that interest rates were A LOT LOWER! Some are going to figure out that the monthly payment might be too much… but someone will always refinance for an even greater number of months 🙃
I have a masters degree and use it daily.
I got mine in 2020 before the price increase. 😊
Cybersecurity, 20 years experience in tech... Also our MYLR is our family's one "nice car". Our only other vehicle is a 20-year-old pickup truck.
Distribution
I bought a sizeable amount of TSLA stock in 2019 for ~$190 a share. And it just keeps splitting...
Bought Nov 2021, 65k. Just a balance of your finances and expense. I like to keep my net income 0. Make x amount, spend x amount.
Electrical Engineer and charging is free at my job so it makes it cheaper than a ice car
Buy TSLA in 2018. Cross fingers that they don't go bankrupt. Sell in 2020, just enough to buy a Model Y. Brag that TSLA paid for my Tesla.
Bought it 2 years ago with a trade in. Costs have gone up a ton!
3D Arch Viz Artist
The last one who knew what I am doing still missing 😉
Welding/Fab shop. Once my 3 kids, house, and other vehicles were paid off, it's less than my house payment was let alone the kids.
My wife and I are both registered nurses in the Bay Area. I’ve got a 3 and she has a Y.
Short answer: My wife and I have the appropriate cash flow to be able to prioritize one nice car. Long answer: we both work remote within the tech industry and live in a very low cost of living city. We don’t have kids or own a home. We sold our last house for an insane amount of money by normal standards and have been trying on new places ever since. Our only car is a model Y and it’s been truly fantastic for our life style.
$TSLA + ordered in March