I’m 28, and have wanted a Tesla for years. I considered putting money down when it was announced but decided against it to build a good financial foundation. Now, years later I still really want one, and want opinions on if it makes sense based on my current finances.
Age: 28 Salary: 100k Current Savings (not retirement): $14,500 401k: $90k (I’ve been maxing Roth 401k contributions for about 4 years now, 19% and then 7% company match).
Current Car loan: $10k Current car value: $15k
Current monthly take home: ~3k Rent: 700 Car payment: 400
I figure if I out around $10k or so down I can get a monthly payment around 650 or so.. and then would expect a gas savings of about $100 a month. So net increase of $150/mo on current car payment. I would still be able to continue to max out Roth 401k contributions, currently $19k/year. So I feel like I am in a good position financially to justify it... even if I’m only 28.
Submitted June 18, 2019 at 10:04PM by mnlife91 http://bit.ly/2MW9X38
