How Buying a Tesla INCREASED My Net Worth by 952

Who would’ve known splurging on a Tesla would net me $4952?

How’s it going everybody this is peter bush i bought a tesla model 3 performance about two years ago so far it’s cost me almost nothing to own the car and the depreciation it’s almost zero a lot of compounding factors went into this so today i want to go over everything in detail including the price you may not see on the tesla website itself before i begin hit that

Like button this video is brought to you by weeble sheba e new coin is the most searched term on google right now you can get five dollars free of shiba inu just for trading one dollar of cryptocurrencies on weibull on top of this you still get the two free shares of stock value between eleven and twenty three hundred dollars just for signing up and depositing

Any amount check out my referral link down in the video description below first i wanna show you guys what my model three performance invoice looks like at the end of 2019. the total price of the car without trading is roughly 72 000 the car itself before taxes and fees about 65 000 i paid 6 000 dollars for full self driving 1 000 for the premium white interior

35 000 for the basic model three when you want to upgrade it to the long range you pay another fourteen thousand nine hundred ninety dollars and then the performance upgrade is another seven thousand dollars it charges a destination fee of one 1 125 i picked up the car in fremont and tesla is in fremont so why is it charging me a destination fee i don’t know i just

Wanted the car i said shut up and just take my money typically the destination fee is for manufacturers to package the car put it in those semi trucks send it to the dealer and then the dealer has to unpackage it okay fine it’s kind of like a shipping fee for the car but in this case it’s not shipped anywhere but fine include it if you want for now and then there’s

A documentation fee okay fine 75 you got to fill out some documents and file it and then the order fee is 100 which is the payment i paid when i made the reservation so it’s interesting they add in that 100 and not subtract it from the full price of the car the taxes and fees at the time is 6784.33 this works out to be a sales tax of 9.25 so if you go on the tesla

See also  Finance for Non-Finance - Ideas Behind the Numbers | Part 2

Website no matter how much you click it they’re not going to show you the sales tax because it depends on where you’re buying the car you have the tire fee which is seven dollars this is a recycling fee that you pre-pay so later on when you dispose the tire they’ll use this fund to properly recycle it license fee of 424 dollars registration transfer and titling

Fees of 284 dollars they have to pay all this to the dmv which is something i can see they have another 30 dollars for electronic filing which i assume they electronically transmit this information to dmv and this costs thirty dollars all right i had a trade-in of two thousand dollars and i’m not gonna talk about this this is really dependent on what kind of car

That you trade in and then they subtracted one hundred dollars from my initial reservation fee this basically cancels out my order fee i paid out of pocket roughly 72 000 in december of 2019 there’s all these kind of rebates depending on which one you qualify for i got in cvrp which is clean vehicle rebate program 800 from pg e so this depends on which kind of

Utility that you have a federal tax credit of 1875 for a grand total of hundred seventy five dollars of rebates i got the cvrp and pg e rebate about a month after i took delivery of the car the federal tax credit came a bit later so the real cost even before you consider all this gas savings is actually 67 000 now here’s an interesting thing i went on the tesla

Website to look for a used model 3 performance with the same configuration as mine i found a 2019 model 3 performance that had 13 000 miles on it for 68 000 this amount is actually before taxes and fees so if i do sell my car 68 000 is roughly what i will receive but look at how much i actually paid for the car sixty six seven nine nine so if i sell the car right

Now i’m gonna do better than break even i’m gonna make twelve hundred dollars and i actually use the car for two years and i put around eleven hundred miles on it if you go on the side they’re gonna give you a rough estimate of how much you’re gonna save in gasoline costs this is an estimate of total savings over six years on average gas prices average miles per

See also  Early Retirement Can Make You Rich and Alone

Gallon and then they submit about four thousand three hundred dollars or so unique to me because i’m no longer using a gasoline car i no longer have to do oil change no longer have to do smog checks i drove 11 000 miles or so and if i had my 2001 porsche boxer at 28 miles per gallon and four dollars per gallon i would have to pay about fifteen hundred dollars in

Gasoline alone i estimate about two thousand dollars of major repairs if i were to use this car about two years more you have a grand total of three thousand seven hundred fifty one dollars so this thirty seven hundred dollars is really money not spent if i were to own my old car i would have had to really spend 3 700 so if i subtract this from the actual amount

That i paid for my car i really only have to pay about 63 000 but the value of the car is sixty eight thousand dollars so i’m up about five thousand dollars just for buying a car and using it for two years let’s look at how much a tesla model three performance cost today full self driving has increased by four thousand dollars from the six thousand dollars i paid

The black and white interior still cost one thousand dollars they have combined the model three distinction the long range and the performance upgrade from three separate items into one single item of fifty seven thousand nine hundred ninety dollars this is one thousand dollars more expensive than before the destination fee stays the same at one thousand one hundred

Twenty five dollars there’s a documentation fee stays the same but the order fee has increased from one hundred dollars to two hundred fifty dollars if you reserve a car right now you have to pay two hundred fifty dollars instead of previously one hundred dollars the total now before taxes and fees is seventy thousand four hundred forty dollars this is a price hike

Of five thousand one hundred fifty dollars now something else happened too because the sales tax increased from nine point two five percent to ten point two five percent so instead of paying six thousand ish dollars for taxes now you’re gonna pay seven thousand two hundred twenty dollars an increase of twelve hundred dollars just in taxes entire fee stays the same

See also  Major Problems in New York City & California right now! Let me show you

License free electronic fee and registration titling fees stays the same reservation payment you know it’s just a small adjustment there so you’re looking at for buying the same exact car with slight differences of an increase of six thousand one hundred eighty dollars we have seen this five thousand dollar increase in small steps over the past two years the price

Hiked the full self driving from six thousand to seven thousand to all the way ten thousand dollars as they increase the feature list they also increase the base price of the car itself because of the chip shortage compounding to all this is that a lot of the rebates slowly disappeared away now you can only get 750 dollars for the cvrp rebate for the model 3 you

No longer get the pg and e credit you no longer get the federal tax benefit with the chip shortage increasing the price of the car itself with the full self driving increasing in price with the rebates going away the difference is huge six hundred and five dollars and seventy seven cents this pushes the used price of the car up itself hence why we see the price

Of a 2019 model three performance shoot up all the way to sixty eight thousand dollars and with all the sales tax stuff considered i still would be up over what i actually paid out of pocket to my surprise this is actually a really good deal i would have estimated that every single year for the first three years the price of the car would depreciate by about 10

Percent so for a 65 000 car i would have estimated i would have lost about 13 000 just the first two years instead i gained about five thousand dollars all these hitting costs were actually not apparent to me i just said shut up and take my but buying the car now if you use the tesla configurator you need to remove the potential gas savings and depending on where

You live you have to add between eight and eleven percent to pay for sales tax and also registration and title fees thanks for watching this video i hope you guys enjoyed it don’t forget to give me a like and subscribe for more you

Transcribed from video
How Buying a Tesla INCREASED My Net Worth by $4952 By BeatTheBush

Scroll to top