1. Tesla Model 3 apparel now available!


    Dismiss Notice

Prepay for M3?

Discussion in 'Reserving, Ordering, Production, Delivery' started by BigBri, Oct 20, 2016.

More threads by BigBri
  1. BigBri

    Top-Contributor
    Expand Collapse

    Joined:
    Jul 16, 2016
    Messages:
    478
    Likes Received:
    360
    Trophy Points:
    63
    Gender:
    Male
    City & State/Province:
    Toronto, Ontario
    Country:
    Country
    Hey everyone,

    I was curious to see if there is anyone in a similar boat. I've been thinking over the last couple weeks how it'd be nice to be able to increase the deposit amount on the M3 (optionally). Since the reveal I've been putting money away for the car every week. I've wanted to do something with said money but any investment options would carry too much risk for me. Something like a GIC would pay almost the same as a savings account which seem

    I got thinking how it'd be nice to pay into pre-purchasing the M3. Tesla has discussed how they'll need capital next year to keep going. Seems like it'd make sense to give reservation holders the option to put more money down. Hell maybe even an exclusive colour option if you've put down X amount by production.

    Obviously there would be some issues. If the deposits are fully refundable they can't really spend said capital without having a large reserve but still I'd even be willing to agree to not get the money back until after production (if the reservation was canceled).
     
    • Agree Agree x 1
    • Michael Russo

      Top-Contributor
      Moderator
      Expand Collapse

      Joined:
      Oct 15, 2016
      Messages:
      2,957
      Likes Received:
      1,663
      Trophy Points:
      113
      Gender:
      Male
      City & State/Province:
      Belgium now, SW France when my Model ≡ gets here
      Country:
      Country
      Brian, I would go along this if this would move me up the line... Two to three months for every €1K down... Of course, this almost should turn the reservation into a (pre-)order...
       
    • WaitingForTesla

      Active Member
      Expand Collapse

      Joined:
      Apr 8, 2016
      Messages:
      122
      Likes Received:
      51
      Trophy Points:
      28
      Gender:
      Male
      City & State/Province:
      Los Angeles, CA
      Country:
      Country
      I too have speculated about Tesla's need for cashflow in the coming months and how people are willing to start paying. That being said, I don't think it makes sense until two things happen, EVERYTHING is revealed and you know exactly what you're buying, also once you know your place in the queue. It costs money to move and process payments so anything going past a deposit should be less refundable than the initial 1k deposit.
       
    • jman

      Active Member
      Expand Collapse

      Joined:
      Aug 5, 2016
      Messages:
      64
      Likes Received:
      26
      Trophy Points:
      18
      Gender:
      Male
      City & State/Province:
      shrewsbury, Ma
      It would be interesting to start paying on a vehicle that we don't yet have so that when we do get it, it will be partially paid for AND Tesla would get funds more quickly but I expect that would not happen. Some people would be interested in doing that however if they KNEW they would be getting their car in a reasonable time frame. I think more will be revealed in the spring and production will begin around early Aug. 2017. Maybe I am dreamer, BUT I know I am not the only one !!!
       
    • TrevP

      M3OC Founder / Administrator
      Staff Member Founder
      Expand Collapse

      Joined:
      Mar 1, 2016
      Messages:
      2,995
      Likes Received:
      2,331
      Trophy Points:
      113
      Gender:
      Male
      City & State/Province:
      Aurora,Ontario
      Country:
      Country
      I think it would be too complicated to account for and the lawyers would certainly get the panties in knot.

      Best to put the money away into some kind of interest bearing account. I have a combination of a TFSA and "high interest savings account" (yeah right) to keep funds. Keep in mind, putting money down on the car is a good thing if you're planning on using the rebate to pay it down. Since its after tax it's best to pay the rebate up front out of pocket and repay yourself when you get the cheque. This way you're actively reducing the capital cost of financing. In the US it's a bit different since they have a tax credit and not a true rebate but the effect is more or less the same.
       
    • BigBri

      Top-Contributor
      Expand Collapse

      Joined:
      Jul 16, 2016
      Messages:
      478
      Likes Received:
      360
      Trophy Points:
      63
      Gender:
      Male
      City & State/Province:
      Toronto, Ontario
      Country:
      Country
      I've had a pretty fortunate year business wise and have the m3 money ready to go. Never really believed in any debt beyond a reasonable mortgage. I've got it into an account that makes 1.5% provided you throw $200 a month into it. I get why Tesla would probably not do it but still..
      [​IMG]
       
      • Funny Funny x 3
      • Love it! Love it! x 1

      Share This Page

      Model 3 Owners Club © 2017. All rights reserved.
      Model 3 Owners Club (M3OC) is an enthusiast club and is not affiliated with Tesla Motors or the Tesla Motors Club Forum (TMC).
      All Tesla logos are trademarks or registered trademarks of Tesla Motors.