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If you are looking for the true idiocy revealed in this video, consider that TSLA is reportedly financing this model 3 sale at 3.34% interest.

TSLA would have to pay at least twice that interest rate, if it tried to sell six-year junk bonds today.

I guess this guy must be a hell of a lot more creditworthy than TSLA...

EatsShootsandLeafs said:
...Some people are desperate to "own a tesla" and will go to truly idiotic lengths to achieve it. Case in point:

https://www.youtube.com/watch?v=DZ-c4xo6dS0
 
edatoakrun said:
If you are looking for the true idiocy revealed in this video, consider that TSLA is reportedly financing this model 3 sale at 3.34% interest.

TSLA would have to pay at least twice that interest rate, if it tried to sell six-year junk bonds today.

I guess this guy must be a hell of a lot more creditworthy than TSLA...

EatsShootsandLeafs said:
...Some people are desperate to "own a tesla" and will go to truly idiotic lengths to achieve it. Case in point:

https://www.youtube.com/watch?v=DZ-c4xo6dS0


Ed, you are posting videos that are already posted in this thread, are you paying attention? Try page 255
 
I would assume that money comes through some financing arm which would get the money at a rate based on car buyers creditworthiness not Tesla Corp. Like Ford Motor Credit vs Ford Motor Co.
 
LTLFTcomposite said:
I would assume that money comes through some financing arm which would get the money at a rate based on car buyers creditworthiness not Tesla Corp...
That's my point exactly, that this college student is clearly much more likely to pay off his debts than TSLA is...

EVDRIVER said:
edatoakrun said:
If you are looking for the true idiocy revealed in this video, consider that TSLA is reportedly financing this model 3 sale at 3.34% interest.

TSLA would have to pay at least twice that interest rate, if it tried to sell six-year junk bonds today.

I guess this guy must be a hell of a lot more creditworthy than TSLA...

EatsShootsandLeafs said:
...Some people are desperate to "own a tesla" and will go to truly idiotic lengths to achieve it. Case in point:

https://www.youtube.com/watch?v=DZ-c4xo6dS0

Ed, you are posting videos that are already posted in this thread, are you paying attention? Try page 255
Are you paying attention?

Did you miss that that is a quote from page 255, and did you notice the video is posted with the 3.34 % APR shown?

Please think, before you post...AND also before you delete posts made by others.
 
edatoakrun said:
LTLFTcomposite said:
I would assume that money comes through some financing arm which would get the money at a rate based on car buyers creditworthiness not Tesla Corp...
That's my point exactly, that this college student is clearly much more likely to pay off his debts than TSLA is...

EVDRIVER said:
edatoakrun said:
If you are looking for the true idiocy revealed in this video, consider that TSLA is reportedly financing this model 3 sale at 3.34% interest.

TSLA would have to pay at least twice that interest rate, if it tried to sell six-year junk bonds today.

I guess this guy must be a hell of a lot more creditworthy than TSLA...

Ed, you are posting videos that are already posted in this thread, are you paying attention? Try page 255
Are you paying attention?

Did you miss that that is a quote from page 255, and did you notice the video is posted with the 3.34 % APR shown?

Please think, before you post...AND also before you delete posts made by others.

Ed it was a joke- (sarcasm) Please let me know if you deleted the post I listed from the log in the other thread. Thank you:)
 
LTLFTcomposite said:
I would assume that money comes through some financing arm which would get the money at a rate based on car buyers creditworthiness not Tesla Corp. Like Ford Motor Credit vs Ford Motor Co.


Are you sure Tesla is not taking deposit holders funds and using them to finance cars at low rates like a ponzi scheme?
 
EVDRIVER said:
LTLFTcomposite said:
I would assume that money comes through some financing arm which would get the money at a rate based on car buyers creditworthiness not Tesla Corp. Like Ford Motor Credit vs Ford Motor Co.


Are you sure Tesla is not taking deposit holders funds and using them to finance cars at low rates like a ponzi scheme?
No, but I think the treatment of the deposit $$$ has been discussed at length, if not here than elsewhere (IIRC the funds are not held in escrow so those deposits are not "safe" should it come to restructuring, but Tesla can't recognize it as revenue... maybe someone else will recall specifics).
 
edatoakrun said:
That's my point exactly, that this college student is clearly much more likely to pay off his debts than TSLA is...
That's actually kind of funny when you think about it. The perspective from the lender is that the car loan is nice and safe because the car itself is security while Tesla Corp is a riskier proposition. What that overlooks is that if Tesla Corp goes under the value of the cars would take a nosedive along with it, likely more than a conventional car because of the technology specialization. Imagine if the entire super charger network was shut down and warranties were useless.
Long ago we experienced this with an RV manufacturer that went bust. We got zero warranty support but fortunately parts were available off the shelf so we didn't get hurt too badly.
 
EVDRIVER said:
LTLFTcomposite said:
I would assume that money comes through some financing arm which would get the money at a rate based on car buyers creditworthiness not Tesla Corp. Like Ford Motor Credit vs Ford Motor Co.


Are you sure Tesla is not taking deposit holders funds and using them to finance cars at low rates like a ponzi scheme?
Cash is fungible. Once a general deposit is received it can be used for any purpose. Does not make it a ponzi scheme. Same with your landlord does not set aside your deposit in a separate special account... it just goes in the checking account for whatever. Needs to be applied to the purchase or refunded in accordance with the contract.

Ponzi scheme distributes investments of new investors to existing investors which would be the non existent dividends or stock repurchases.

Read more on Ponzi himself, or more recently Bernard Madoff or the pyramid schemes of the past. Very different.
 
LTLFTcomposite said:
SageBrush said:
I showed that video to my wife. We both wondered why banks would give a student a $50k loan for a car.
I can only imagine the lenders were swayed by his job prospects (in nursing ?) after he graduates, but it still means that the country is full steam ahead into easy credit. How short our memories are.
If I were king all consumer lending would be non recourse. Isn't CA already leading the way there? (was the guy in the video from CA?)

In other news, the jokers in congress have just agreed to repeal some of the post 2008 banking regulation that was interfering with bankers ability to extend (easier) credit.

The video guy should have waited a few months, then he could have financed the car and taken out another $50k cash for incidentals.

To your question, since the last massive credit bubble was fueled by the opaque derivatives market and the congressional idiots are setting us up for more of the same, I sincerely doubt non recourse loans will plug the dike.
 
People should be able to make their own choices about whether to lend money and to whom, but with the understanding that there is a risk it won't be repaid, leaving you only with whatever security was part of the deal.
If our friend in the video starts missing payments the lender gets the car and the process ends there, not with a bunch of silly cases clogging up the courts.
 
smkettner said:
EVDRIVER said:
LTLFTcomposite said:
I would assume that money comes through some financing arm which would get the money at a rate based on car buyers creditworthiness not Tesla Corp. Like Ford Motor Credit vs Ford Motor Co.


Are you sure Tesla is not taking deposit holders funds and using them to finance cars at low rates like a ponzi scheme?
Cash is fungible. Once a general deposit is received it can be used for any purpose. Does not make it a ponzi scheme. Same with your landlord does not set aside your deposit in a separate special account... it just goes in the checking account for whatever. Needs to be applied to the purchase or refunded in accordance with the contract.

Ponzi scheme distributes investments of new investors to existing investors which would be the non existent dividends or stock repurchases.

Read more on Ponzi himself, or more recently Bernard Madoff or the pyramid schemes of the past. Very different.

I was being facetious not literal.
 
Laugh till it hurts...which it certainly will, if you buy one of these money-pits.

Here’s What $7,000 Of Damage Looks Like On A Tesla Model 3

...on my second outing with the car, I accidentally clipped a parking sign while backing out of a parking space. It was a bonehead move, but the fact that the car’s arsenal of cameras and sensors didn’t notice it either was mildly annoying. But I shrugged it off and thought, “no big deal.” It was, after all, just a 4-inch dent on the front left fender. How much could it cost to repair?...
https://cleantechnica.com/2018/05/20/heres-what-7000-of-damage-looks-like-on-a-tesla-model-3/
 
edatoakrun said:
Laugh till it hurts...which it certainly will, if you buy one of these money-pits.

Here’s What $7,000 Of Damage Looks Like On A Tesla Model 3

...on my second outing with the car, I accidentally clipped a parking sign while backing out of a parking space. It was a bonehead move, but the fact that the car’s arsenal of cameras and sensors didn’t notice it either was mildly annoying. But I shrugged it off and thought, “no big deal.” It was, after all, just a 4-inch dent on the front left fender. How much could it cost to repair?...
https://cleantechnica.com/2018/05/20/heres-what-7000-of-damage-looks-like-on-a-tesla-model-3/


First off I don't believe the sensors missed that but that is his story as I have fewer and they always catch everything, Second, if you need sensors to park and not hit things you are a bad driver. Third, price gouging on labor likely and the parts cost are not high. I guess you have never had a newer car repaired properly before, a scratch on my Tacoma presented a $1800 repair estimate. Lastly, your post title sounds like foolish you know what.
 
EVDRIVER said:
edatoakrun said:
Laugh till it hurts...which it certainly will, if you buy one of these money-pits.

Here’s What $7,000 Of Damage Looks Like On A Tesla Model 3

...on my second outing with the car, I accidentally clipped a parking sign while backing out of a parking space. It was a bonehead move, but the fact that the car’s arsenal of cameras and sensors didn’t notice it either was mildly annoying. But I shrugged it off and thought, “no big deal.” It was, after all, just a 4-inch dent on the front left fender. How much could it cost to repair?...
https://cleantechnica.com/2018/05/20/heres-what-7000-of-damage-looks-like-on-a-tesla-model-3/


First off I don't believe the sensors missed that but that is his story as I have fewer and they always catch everything, Second, if you need sensors to park and not hit things you are a bad driver. Third, price gouging on labor likely and the parts cost are not high. I guess you have never had a newer car repaired properly before, a scratch on my Tacoma presented a $1800 repair estimate. Lastly, your post title sounds like foolish you know what.

In his defense, my sensors go off as soon as I'm within 20 inches of anything, so it's starting to bug me. Maybe he started to zone them out too? But yeah, relying on the car's sensors to park and not your own eyes isn't a good way to drive.
 
EVDRIVER said:
smkettner said:
EVDRIVER said:
Are you sure Tesla is not taking deposit holders funds and using them to finance cars at low rates like a ponzi scheme?
Cash is fungible. Once a general deposit is received it can be used for any purpose. Does not make it a ponzi scheme. Same with your landlord does not set aside your deposit in a separate special account... it just goes in the checking account for whatever. Needs to be applied to the purchase or refunded in accordance with the contract.

Ponzi scheme distributes investments of new investors to existing investors which would be the non existent dividends or stock repurchases.

Read more on Ponzi himself, or more recently Bernard Madoff or the pyramid schemes of the past. Very different.

I was being facetious not literal.
Probably inappropriate but where was the humor?

It just seemed disconnected from reality. Like you were selling an Electro Encabulator
 
Reasonable CR youtube on the situation.

Published on May 23, 2018
Consumer Reports has revealed that it would not be recommending the Tesla Model 3, in part due to poor braking performance. In response, Tesla CEO, Elon Musk agreed to meet with Jake Fisher, CR Auto Test Director, to talk [for about an hour regarding] our findings and discuss immediate updates Tesla might make. Hear all about that exclusive conversation this week on Talking Cars.

[youtube]http://www.youtube.com/watch?v=daOGwnqC-gs[/youtube]
 
scottf200 said:
Reasonable CR youtube on the situation.

Thanks for posting.

A few points (other than the braking distance main topic) they brought up:

Wind noise: While I haven't yet experienced the level of wind noise in the Model 3, this is a concern of mine. I think that EV drivers in general are going to be more sensitive to wind noise than ICE vehicles. I think Nissan did great job with this issue with the bulbous headlights. Yeah, they are definitely weird looking, and some would say polarizing. I personally find them the most unattractive part of the car. But they are definitely functional and are part of the reason that driving the LEAF is so enjoyable. I'm actually wondering how the noise in the 2018 LEAF is compared to prior years. But back to the Tesla...I had heard complaints of wind noise in Model S, and I am expecting the Model 3 to be louder than the LEAF. The guys at Now You Know did an episode on Model 3 noise. They compared it to their Model X and an ICE vehicle. Sadly, even though Jesse has a LEAF, they did not compare it to the LEAF. As a LEAF driver, that information would have made the most sense to me.

Lack of controls for adjusting side mirrors and air vents. This is my personal opinion, but I think they really overblew this one. They said those are "everyday" tasks. I strongly disagree. I set the mirrors ONCE and that's pretty much it. I normally only ever have to adjust mirror positions when I am renting or borrowing a car, and in those cases I mostly do it before setting off. At any rate, mirrors can now be adjusted using the steering wheel controls once you get into that mode, so probably not a huge deal. Air vents...well I do VERY occasionally adjust those, but normally those are set and forget as well. My wife as a passenger sometimes adjusts the vents, but that's more because in our LEAF there is no dual zone, so she either opens or closes the vents. So again, I think lack of an easy control is an overblown issue here. There are probably other things I would have picked to complain about having to go to the touch screen for other than mirrors and vents.

Phone as Key: Definitely a big issue. For many, this works well, but for many it doesn't. I'm glad that they raised this issue with Elon. Hopefully he will be able to provide a real solution.
 
lpickup said:
scottf200 said:
Reasonable CR youtube on the situation.

Thanks for posting.

A few points (other than the braking distance main topic) they brought up:

Wind noise: While I haven't yet experienced the level of wind noise in the Model 3, this is a concern of mine. I think that EV drivers in general are going to be more sensitive to wind noise than ICE vehicles. I think Nissan did great job with this issue with the bulbous headlights. Yeah, they are definitely weird looking, and some would say polarizing. I personally find them the most unattractive part of the car. But they are definitely functional and are part of the reason that driving the LEAF is so enjoyable. I'm actually wondering how the noise in the 2018 LEAF is compared to prior years. But back to the Tesla...I had heard complaints of wind noise in Model S, and I am expecting the Model 3 to be louder than the LEAF. The guys at Now You Know did an episode on Model 3 noise. They compared it to their Model X and an ICE vehicle. Sadly, even though Jesse has a LEAF, they did not compare it to the LEAF. As a LEAF driver, that information would have made the most sense to me.

Lack of controls for adjusting side mirrors and air vents. This is my personal opinion, but I think they really overblew this one. They said those are "everyday" tasks. I strongly disagree. I set the mirrors ONCE and that's pretty much it. I normally only ever have to adjust mirror positions when I am renting or borrowing a car, and in those cases I mostly do it before setting off. At any rate, mirrors can now be adjusted using the steering wheel controls once you get into that mode, so probably not a huge deal. Air vents...well I do VERY occasionally adjust those, but normally those are set and forget as well. My wife as a passenger sometimes adjusts the vents, but that's more because in our LEAF there is no dual zone, so she either opens or closes the vents. So again, I think lack of an easy control is an overblown issue here. There are probably other things I would have picked to complain about having to go to the touch screen for other than mirrors and vents.

Phone as Key: Definitely a big issue. For many, this works well, but for many it doesn't. I'm glad that they raised this issue with Elon. Hopefully he will be able to provide a real solution.

wind noise - anecdotal, but the model 3 has less of it. The wind noise is noticeable at highway speeds, probably because of how quiet it is at lower speeds.

Agree with you about the mirrors. I've had to make adjustments a few times (to fine tune the placement), but haven't needed to change anything since.

Phone as key isn't as big of an issue, since the keycard's functional (just requires a change of habit), however, the inability to do bluetooth calling after using the keycard to unlock and drive is royally annoying.
 
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