[Music] Martis Lander's question is up next. It says, What are your thoughts on breaking the rule of paying in cash for a luxury car, such as perhaps with a 0.99% APY deal for the Tesla Model Y? If you could see how many comments questions on the stinking Tesla thing on the stinking Tesla thing. Well, first thing you got to answer is this Tesla luxury vehicle, right? Like that, oh, you got to answer that is Tesla luxury. Well, this is specifically the Model Y, right? Ah, it's hard with um, we've even done, we did, we did a show on that, and I think we were right there as in a gray zone because with the tax credits and then the pricing that Elon, wild and crazy Elon with his pricing schemes to try to move inventory. And look, I'm not super shocked by this. This is a one-off. We have my favorite Mexican restaurant is by the parking lot that they park all the Teslas, and I kid you not, there was a two-e period where I was like, Oh my...

goodness, do you see how many Model Ys are just building up in that parking lot? I was like, this can't be healthy. Um, obviously, they've got this machine, you know, the board is putting out all of these Teslas, but yet there's not enough people buying them. So crazy Elon does a 0.9% interest rate, and I will tell you when I ate Mexican last week, um, there's a lot less Model Ys in that parking lot. So, I think there's a lot of people doing looking at it. I look, I, I still think even if they give you 0.9% for longer than 3 years, you pay the car off within 3 years, um, but because it's, it's just, and then Tesla, especially specifically the Model Y, um, the Model 3 and the Y could probably make, we've even done the math on it, make a case for it. It, it does, it's no different than a Toyota, you know, C or Honda Accord. It's really the, the now, the

Cybertruck, the X, and the S's that kind of really fall into the luxury price because they've been so aggressive with the pricing. But um, I'll give you, you, you, you still can't go beyond 3 years. I mean, I think even if they give you four years, 5 years at 0.9%, pay that car off because I want you to feel the squeeze of this thing is depreciating, especially a Tesla. I will tell you, they used to hold up, but because of all this pricing that's going on, um, there's a lot of depreciation wash that's going to come over that car, um, that you just need to be prepared for. You know, my thought is just because you can doesn't mean that you should. Like how many times are you checking out Brian and uh, like you're online and you're checking out and you'll be like, hey, for four easy payments you can buy now, pay later. You can buy now, pay later. And I do the math and I'm like, oh wait, there's no interest charged here, right?

could I can just make four equal payments over the next four months instead of paying for it now. Well, time value of money would suggest that I should take advantage of every single buy now, pay later opportunity and leave that cash. You would never do that just because you can and just because you can get your head to wrap on the math doesn't mean that that's something that you ought to pursue. I will tell you if I personally where I'm at right now in my journey, if I were in the market looking for a Tesla, even with Elon putting this rate out there, I still think if I, if it's, if it's, if it's not going to impede my other savings, my other investing, I still think I'm going to pay cash for it even with as attractive as it is. Well, cash is preferred on all vehicles, they depreciate too much. So I mean I, I agree with you and our research with our wealth survey we do on our clients now we know 'cause we've added the question over the last two years is did you pay

cash for your first car most say no. They just like me, they had to finance. So that's what 238 is supposed to be, that bridge to get you to reliable transportation. But if you want to know what the default is and it's what I use, it's what you use, and what our clients do, paying cash is still the preferred and better way to do it. So, I mean, I'm always going to fall on the fact that pay cash is the choice and reliable transportation. And I don't know that I want a 22y old, 23y old thinking, you know, what my first car ought to be is, well, just because of, I mean, you know, there are road trip issues with, you know, I know when I and I take mine, like down to Georgia, but it's just, it's your ban of with, you got to be logistical when you do that though. If I was going to Florida, I would probably use my wife's car more than I'd use mine. Now Georgia, I figured out how I

can go to bies on one charge charge up while I'm getting my my brisket sandwich, and then I'm good to go. So it has a now a 4our halo around it, and I thought when the Cyber truck came out and it was going to be a 450 mile range. Now that Halo would go to the six or seven hours that you typically see. Nobody wants to do road trips much longer than that anyway, but but we're stuck in this where you really you need a vehicle that that that goes beyond the 3 to 4 Hour Halo on road trips mhm. But by the way weekly cuz I want to make sure my Tesla people know I still love them because I'm one of them on the weekly. I love not having to go to Costco like I do about every other week for my wife's car to save the 50 60 cents a gallon um. I don't have to do that cuz I just plug my car in, you know, twice a week, and and it charges while

I'm sleeping, so it does have benefits on your weekly, which is probably more of a time saver. No oil change than and no oil changes um. For some reason, they put weird size tires, so you know tire rotation, which I don't know if I like that though. You do you don't like, you don't rotate the tire well, you don't get to rotate 'cause you put different sizes on the front and back um. So you just let them wear out.

Can I Break the Cash Rule for a 0.99% APY Deal on a Tesla Model Y?

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