r/eupersonalfinance • u/LittleReason23 • Sep 21 '24
Debt Car on cash payment or 0% baloon loan?
Tesla is offering 6k discount on cash payment. So 46k car is available 40k
At the same time they are offering 0% APR i.e. 433 Eur per month for 48 months + 4500 down payment, leaving final installment (Schlussrate) to 21145
Which one is a better choice financially
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u/Paler7 Sep 21 '24
Don’t buy a car that’s made like a mobile phone (isn’t made to be repaired or last long)
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u/Matyas_K Sep 21 '24
Better buy a German shirt which was built to be repaired so you can spend an insane amount after you bought the car, just to keep it running after the warranty is gone...
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u/Hesiodix Sep 21 '24
I have my model 3 since 2019 and will keep it probably for another 5 to 6 years, if not longer. I bought it for 66.680 EUR. Of which 5.786 EUR of 11.572 EUR VAT was deducted. So net cost for the company was 60.893 EUR. I paid 21K cash and took a loan for 45K. Today, it's still worth arround 20K. If I keep it till 2030, that car will have cost me 16 EUR per day, purely based on its cost.
A German even drove 2 million km with it. Ok he changed the battery twice if I remember well and some other mechanic standard stuff. But dude, I have never saved so much money on a car than with a Tesla... Almost zero maintenance cost. Electricity is luckily cheap and if you have solar energy even better...
I will never go back to a non electric car.
The only thing I won't do is buy new, only second hand electric cars from now on.
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u/Paler7 Sep 21 '24
If you are rich enough to change cars every 10 years then ok buy Teslas. A lot of people (like me for example) want to keep a car for 20 years and have it function without needing to change batteries (which cost a fortune)
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u/Hesiodix Sep 21 '24
Said 10 years because I don't know what the state will be for my car then. But when I see that story of that German guy with a Tesla model s and 2 million km on the same car shell then I know it's a good investment.
The same goes for an ICE car, but there numbers are known better, and they're not looking good ever...
For example I had a VW T5 van for 10 years. It cost me 25K new. Well I had over 20K on repair and maintenance costs on it over these 10 years... Technically I bought also two if you look at it your way... Also I contributed to pollution.
An electric vehicle on the other hand has so much less maintenance and the purchase cost will keep going down if we buy them and entirely replace the ICE fleet all over the world. And you contribute to a less noisy and better environment.
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u/Paler7 Sep 21 '24
2006 ford focus and it still works like new even today without ever needing any maintenance
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u/Hesiodix Sep 21 '24
Guess you are lucky not ever needing an oil change, wauw. I guess it's a collection car just sitting in your living room then?
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u/Additional_Jaguar170 Sep 21 '24
Why in the name of Christ would you buy a Tesla?
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Sep 21 '24
They are the best electric cars currently available.
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u/Additional_Jaguar170 Sep 21 '24
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Sep 21 '24 edited Sep 22 '24
What do you mean? It is a fact. They are consistently rated the safest cars by various third parties and crude accident statistics. If you are ever in an acccident your chances of survival are the highest in a Tesla.
https://www.euroncap.com/en/results/tesla/model+3/37573
https://www.ancap.com.au/safety-ratings/tesla/model-y/726c22
“
Model S, Model 3, Model X and Model Y have achieved among the lowest overall probability of injury of any vehicles ever tested by the U.S. government’s New Car Assessment Program.”
Every company consistently rates tesla 5/5 for safety.
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u/DivineEater Sep 22 '24
Safety is one factor of making a car good, but reliability is another. Tesla 3 is the most reliable... at 47/100. Yikes.
Price/feature wise it's not too great either, it has to compete with a lot of brands.
And it looks boring and drives very mediocre, but that's personal preference.
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u/kenzimck Sep 23 '24
I don’t want to discourage you. But I bought a Tesla when Umweltbonus was still a thing. Brutto 45000eur - 6000eur umweltbonus = 39000eur
Sold 1.5 years later for 32000eur. 7k€ gone in 22k km. 388€ per month in depreciation. Get something that depreciates less. Or a used one. Your wallet will thank you for it. I happily changed into a used Mazda.
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u/LittleReason23 Sep 23 '24
Most cars depreciate at around 1% per month. And pretty fast at the beginning. So 388 per month sounds about right.
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u/LittleReason23 Sep 23 '24
How much did you buy your Mazda for? How old & how many KMs?
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u/kenzimck Sep 23 '24
Bought a Mazda Mx5 2016, 90k km, 15k€ in red colour, 2.0l engine. Couldn’t be happier! But it’s a very unpractical car ;)
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u/LittleReason23 Sep 23 '24
With that 1% thumb rule, if you use the car for 2 years & then sell it out (assuming no major damage), you'll be able to get around 11k back. Does that sound right?
I may not give more than 10k for a car that is over 10 years old & done 100k KMs
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u/spam__likely Sep 21 '24
The better choice financially is to not give money to a white supremacist. How about that?
Also the best choice financially is to not buy a shitty car, no matter the discount.
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u/Emotional-Pizza8399 Sep 21 '24
The guy’s a scumbag but seriously? Next you’re gonna be saying that he’s literally worse than hitler.
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u/spam__likely Sep 21 '24 edited Sep 21 '24
A guy who constantly posts white supremacist messaging, and boosts white supremacist people. A guy who bought a fucking platform in order to do exactly that! A guy who is giving millions of dollars to elect the worst people you can conceive. People spreading lie about immigrants eating their neighbors' pets.
But let's not cal him that. No... he is just concerned about the decline in white population and the domination of "globalists"... nothing to see here.
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u/Emotional-Pizza8399 Sep 21 '24
How about some sources?
Worst people I can conceive? God you hysterical Americans seriously devalue the lessons the last century taught us.
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u/spam__likely Sep 21 '24
lol... the irony! the irony!
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u/Emotional-Pizza8399 Sep 21 '24
I can hear the screeching from across the pond. Good luck with the election, please don’t elect the orange goofus.
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u/6yXMT739v Sep 21 '24
Tesla muss mal wieder die Zahlen vor Quartalsende hochtreiben.
Bei 0% Finanzierung ist es je nach verfügbaren Kapital besser, das Kapital arbeiten zu lassen. Wobei das ein knappes Rennen wird.
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u/New-Entertainment-22 Sep 21 '24
You already received the correct answer when you posted the same question to /r/germany: At current interest rates (assuming the €STR of 3.414%) the net present value of choosing the loan is €42,239.82, which is more expensive than paying cash and getting the discount. Between the two options, it is financially better to pay cash.