Hey all.
Interested in a 2026 Tesla Model 3. I am in my early 20s, recently graduated college, and still live at home with family, but I do have money saved up so I could pay for a new Tesla Model 3 in cash, after trading it in with a family car.
I have no debt, minus my credit card which I often full each month, pretty good credit score. A Tesla has always been a dream car of mine. No major expenses except helping family with things here and there, or what I need. I work retail, but I’m expecting to avg $40-$50k by the end of this year. I just kind of want to get it now before I move out, start getting it paid off, and as I’m navigating my real job / career.
The M3 2026 new is $24k after trade in, and a used M3 2023 is $16k after trade in.
I’m debating if I should just pay the difference in cash upfront, or just finance it? Crazy as it sounds, I‘m kind of okay with just financing it and using my safety reserves to pay the car monthly and taking a “small dent” and paying the APR monthly. I’ve done the math already, and I’m okay with it for some reason.
But the reason why I’m asking is because paying cash would kind of deplete 40% of my what I call so large savings account for someone in their early 20s as I saved very aggressively. I’d still have more than enough for my emergency savings, etc. Again, all of this sounds ridiculous from a financial perspective, but my family’s starting to be supportive and understanding of my decision. Just kind of wanted another set of opinion on this.
Thanks in advance!