edatoakrun
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Re: Official Tesla Model 3 thread

Tue May 22, 2018 4:10 pm

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 wrote:...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
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EVDRIVER
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Re: Official Tesla Model 3 thread

Tue May 22, 2018 5:05 pm

edatoakrun wrote: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 wrote:...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
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LTLFTcomposite
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Re: Official Tesla Model 3 thread

Tue May 22, 2018 5:05 pm

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.
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edatoakrun
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Re: Official Tesla Model 3 thread

Tue May 22, 2018 5:33 pm

LTLFTcomposite wrote: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 wrote:
edatoakrun wrote: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 wrote:...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.
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EVDRIVER
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Re: Official Tesla Model 3 thread

Tue May 22, 2018 5:40 pm

edatoakrun wrote:
LTLFTcomposite wrote: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 wrote:
edatoakrun wrote: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:)
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EVDRIVER
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Re: Official Tesla Model 3 thread

Tue May 22, 2018 5:45 pm

LTLFTcomposite wrote: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?
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LTLFTcomposite
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Re: Official Tesla Model 3 thread

Tue May 22, 2018 6:44 pm

EVDRIVER wrote:
LTLFTcomposite wrote: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).
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Re: Official Tesla Model 3 thread

Tue May 22, 2018 6:56 pm

edatoakrun wrote: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.
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smkettner
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Re: Official Tesla Model 3 thread

Tue May 22, 2018 7:43 pm

EVDRIVER wrote:
LTLFTcomposite wrote: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.
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SageBrush
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Re: Official Tesla Model 3 thread

Tue May 22, 2018 8:03 pm

LTLFTcomposite wrote:
SageBrush wrote: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.
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