Murphy's Law just hit my Model S reservation fee funds

[Roger_Smith]

Hit it hard with a Mack truck. I figured it would happen. Had $2000 saved and an old friend called up after having her car repo'd. Oh well. Starting over from $0 is a drag. I guess sooner or later i'll have good fortune smile upon me for putting another's dire needs before my selfish wants. I still have 2 years to save for my Model S. At least my friend can now rest easy knowing that her car will never be repo'd again. Being a single mom with no car sucks!

I know many here would say i'm a fool(She is a non intimate friend for 5 years. So no, i'm not boinking her and her child isn't mine). I figured, why not invest in someone so that they can do better. Besides, if Elon Musk pulls this off, i'll still have plenty of time to get a Tesla pending they survive. That is my rant for the day.

You know something strange, I don't regret redeeming the car for her. I guess im just a different kinda guy. Let me get back to work and hit this overtime hard to recoupe this cash. Have a good one Tesla fans.

[Todd Burch]

Roger,

Good on you. Maybe when she's in a better situation she'll be able to pay you back?

Either way...just consider it a setback. On the bright side, if it delays your S by a year or so, you'll probably have more options (300 mi pack, AWD, etc).

[PopSmith]

I say you did the right thing, Roger. It may have set you back a bit but I consider it a positive thing since you helped out a friend who was greatly in need.

[strider]

Roger,

Good on 'ya. I don't know you but I'm impressed by your generosity. My wife and I have helped out various family members with money over the years and although we've never seen any of the money again I like to think that it's helped us. It definitely helps me sleep better at night knowing that I've helped someone cover a surprise bill, get reliable ride to work, etc. If nothing else the feeling of doing good will extend your life through lower levels of stress

[Roger_Smith]

I actually gifted her the entire $2000 payoff because she's financially poor. She was a first time auto buyer and got swindled into one of those car title loan places that charge 36% or more APR. Then again with her being 25 y/o, I wouldn't expect her to know about those scam artists. Interest came out to be twice the loan amount ($750). For her it was a learning lesson. I'll have some more saved up soon. I can still get the $5000 reservation fee in by the end of December. I did find it disturbing that her own mother wouldn't help her redeem the car. When her mother learned that I gave her daughter the money, she asked what she had to do to get it. Very ugly indeed. Insult to injury, she offered to pay for the tow truck company fee. I guess her mom was shamed into offering help after the fact. Anyhow, my house is still mine(and the banks), my 98 Expedition still works and I still have my health, strength and a good job. Life is still good.

[dsm363]

You're obviously a nice person and did the right thing. Don't worry or stress about getting your reservation in for the Model S. They won't ramp up production to their 20,000 cars/year capacity until 2013 from what I've read anyway so once production starts, you'll get your car pretty quickly. Take your time and put down the money when it makes financial sense for you. Plus, once you put down the money, you start thinking about the months of waiting until the car arrives. This way you can countdown until the day you put down your deposit then shorten your wait from deposit to delivery.

[vfx]

Karma (not the Fisker variety) says you will get it back. Maybe another tax break of an equal amount is in the works for you.

[kgb]

Karma (not the Fisker variety) says you will get it back. Maybe another tax break of an equal amount is in the works for you.

That's a good thought. You can tell the IRS that you "loaned" the money to that girl at a market interest rate. Then she can default on the loan. You can write off the money as a passive loss.

Of course, she'll have to declare that money as income.

[Kipernicus]

You put it best yourself, Roger: you are investing in someone (a family, in fact) and while you may not see any monetary return the indirect, intangible benefits like friendship are well worth it.
As for the car, by delaying it you are actually better off because Tesla will have had time to work out the bugs and kinks that are sure to pop up on the first ones off the line.

[mt2]

I've got a couple of plumbers with earth moving equipment in my front yard right now wiping out my Model S deposit. Actually, they burned through the deposit about three hours ago and they don't show signs of stopping. With yellow caution tape surrounding my yard, orange cones in the street, heavy equipment and floodlights, they're giving me quite a show for my money. But that money had a purpose, and it wasn't to replace old sewer pipes.

There's part of me that says if I'm living that close to the next paycheck, maybe a Model S isn't the right choice. Maybe I should get serious about the Hyundai Sonata Hybrid. Consider it a hold-over until I retire early (if no other cataclysmic uninsured event occurs), and will be ready for a luxury car.

But still ... it's a Model S! Maybe I should just push it back one model year.