Disclaimer: I realize any and all financial opinions/advice given here are from strangers on the internet who could be posing to know what they are talking about. I am just looking for another side of the coin.
You may have seen me on these forums before. I have been on here for more then a year and I watched as everyone got their Model S and enjoying the hell out of it. I am going to be taking my FIRST test drive in 12 hours and putting in my deposit next month FINALLY!
However I am having second thoughts financially and I was wondering if anyone wanted to weigh in on a "What would you do?" sort of conversation. To give you background, I am 28 years old, I work as a network engineer at a very nice company which pays me well. I live in San Antonio, TX which has low living costs in housing and all that.
The reason I am having second thoughts on buying the Model S I think stems from most of my friends/family saying "Well, its an awesome car! But its so EXPENSIVE". I am adverse to debt and I am very careful with finances and that is partially why I am nearly debt free. I only have my house, which is 140k.
I invested enough in TSLA to in total have 80k in stock total. This is probably the main reason I can afford to put 50k down on the car. But with all my friends/family reminding me that I am not making a metric ton of money it has me second guessing my financial decision here. To be clear, the monthly expenses are not what frighten me as I would have to finance the other 40k. I make more then enough to pay for this monthly and have plenty of money, 70 percent roughly, left over to pay extra on the car AND my house at the same time. My concern is.... with this much in stock I could literally almost pay off my house.
I just don't know when I will see this much cash in a long time so I am on edge. Since I am so young, I am looking at my future. I love the car, I love EV's and I can't stop searching the web 24/7 on Tesla news. It is definitely a passion, but my frugal side is also pulling me. Its a brain vs. heart moment right now.
Anyone have any thoughts on my dilemma? I know opinions will be skewed on this forum FOR getting a Tesla. But sometimes I like to make sure I am not TOO crazy. If you need more info on my finances, I can share. I just don't want to offend anyone on the forum for sharing my own finances.
Sorry this was so long
TL;DR: I can afford the car, but wonder if financially its the best choice to use all this gained cash on a passion or a frugal investment. Also, I don't feel like waiting till Model E and I would like a vehicle in this class.