Tomorrows the day!

[Dsk101867]

Tomorrow is pickup day! Going from a model 3 or to an air pure.

Having second thoughts …. It’s more than I ever paid for a car, the company is bleeding cash, and the tech isn’t where Tesla is ….. but the car is gorgeous, drives and handles like a dream (no pun) ….. am I doing the right thing?

 

[Amster]

Tomorrow is pickup day! Going from a model 3 or to an air pure.

Having second thoughts …. It’s more than I ever paid for a car, the company is bleeding cash, and the tech isn’t where Tesla is ….. but the car is gorgeous, drives and handles like a dream (no pun) ….. am I doing the right thing?

You are asking this on a Lucid message board. So my guess is you'll get a lot of "Yes, you're doing the right thing." Ask the same thing on a Tesla message board and I'm sure you'll get the reverse.
I have no experience with owning a Tesla, so all I'll say is that it's way more than I ever paid for a car, and I have no regrets about it.

 

[Rossb2k]

You're making a terrible mistake and should donate the car to me instead.

 

[Sid432]

Tomorrow is pickup day! Going from a model 3 or to an air pure.

Having second thoughts …. It’s more than I ever paid for a car, the company is bleeding cash, and the tech isn’t where Tesla is ….. but the car is gorgeous, drives and handles like a dream (no pun) ….. am I doing the right thing?

At least you won't be the only one. We will be all (bought Lucid) in the same boat.
However, Lucid is the most expensive car I bought. I have paid OG price before any reductions/incentives and I absolutely love it.

 

[DeaneG]

Once you get used to the Air, you'll be amazed how much better a car it is. Takes a while to fully appreciate it.
BTW Tesla was bleeding cash when I bought a tent-built Model 3 in 2018. Every company had to pay its dues.

 

[mraschko]

Congratulations! I love mine and I hope you love yours just as much!

 

[level]

Congrats!!! I love my AT! It's just so fun to drive. You'll love yours for sure!

 

[3rdMotor]

All manufacturer preferences aside, the way you phrase it gives me pause. It sounds like a huge purchase for you. The depreciation is going to be fast and steep. As long as you can stomach that (afford that), then you’re good to go.

If you aren’t able to put atleast 50% down and pay the balance off in a year, I wouldn’t do it.

 

[Dsk101867]

All manufacturer preferences aside, the way you phrase it gives me pause. It sounds like a huge purchase for you. The depreciation is going to be fast and steep. As long as you can stomach that (afford that), then you’re good to go.

If you aren’t able to put atleast 50% down and pay the balance off in a year, I wouldn’t do it.

Thanks I’m covered cash wise ….. it’s just the biggest non-house/college purchase I’ve ever made

 

[borski]

Thanks I’m covered cash wise ….. it’s just the biggest non-house/college purchase I’ve ever made

I’m so excited for you. It was the biggest non-house/college purchase I’d ever made too.

You’re gonna love it, especially if you like driving.

 

[xponents]

Thanks I’m covered cash wise ….. it’s just the biggest non-house/college purchase I’ve ever made

Do it and enjoy!

 

[no gas]

All manufacturer preferences aside, the way you phrase it gives me pause. It sounds like a huge purchase for you. The depreciation is going to be fast and steep. As long as you can stomach that (afford that), then you’re good to go.

If you aren’t able to put atleast 50% down and pay the balance off in a year, I wouldn’t do it.

Just finance it....why pay cash??

 

[no gas]

Thanks I’m covered cash wise ….. it’s just the biggest non-house/college purchase I’ve ever made

Its a phenomenal car, just go look at the reviews. If you are spending that much, get something special like a Lucid!

 

[3rdMotor]

Just finance it....why pay cash??

There are all manner of philosophies on this.

Paying cash or putting a high down payment avoids interest and debt but may limit your liquidity. Financing allows you to keep cash for other opportunities, but it comes with interest costs. Frankly, in my opinion, if putting 50% down or more would drain your liquidity to the point of being consequential then it seems like the purchase would be too big and you should scale down to something more affordable.

My question, in return: Why would an individual (not a business) finance a depreciating asset such as a luxury vehicle?

 

[xponents]

There are all manner of philosophies on this.

Paying cash or putting a high down payment avoids interest and debt but may limit your liquidity. Financing allows you to keep cash for other opportunities, but it comes with interest costs. Frankly, in my opinion, if putting 50% down or more would drain your liquidity to the point of being consequential then it seems like the purchase would be too big and you should scale down to something more affordable.

My question, in return: Why would an individual (not a business) finance a depreciating asset such as a luxury vehicle?

As you said, more capital for other ventures!