- Okay, the next thing I want to talk about
is an affordability calculator that I built.
Let me just pull this up for you here.
So Tesla has an affordability calculator already
but it doesn't include the Model 3,
and that, I thought, was lame.
So I wanted to basically rebuild
or kind of do my spin on something that they've built
but also include the Model 3.
And so what this is, you can go,
the link is in the description,
and I'll put it in a dropdown on the website as well.
Now there are a couple of assumptions here.
So this includes S, X, and 3,
every option that I was able to calculate,
so literally if you're getting a custom paint
versus a multi-coat paint,
if you're getting a different wheel size,
if you're getting the full self driving
with enhanced autopilot and blah blah blah blah blah,
every single option I've tried to break it down.
Now I did not include cars that you cannot currently buy,
so for example the standard range Model 3
or all-wheel drive with white interior
unless they just added that.
All of those things, I went through the Tesla website
and I looked at every single configuration combination
and figured out what the price of those vehicles would be.
Then I used some basic loan math, loan calculations
to come up with how much your monthly payment would be.
Now, I'm assuming that you're financing some
or all of the car
and so that's how it's set up.
I know that they don't have a lease option yet
but on the other calculator there is a lease option
so you can go use that
and also there's a cash option, so this isn't for that.
This is for assuming that you're gonna have a loan
and you're going to finance some of it,
which is most people.
So that's kind of what I was going for with this.
I know there are edge cases here and there
that I just probably won't ever update it for
but here's how it works.
You punch in your interest rate
and I defaulted it to 3.5% so this is a whole number
so if you get a better one
or if you think you can get a better one, go for it,
just update that.
You punch in your loan period in months,
so 72 is the longest one Tesla offers,
you can also punch in 60, which is a five-year loan
which is what commonly people would get for cars
and then you have a down payment
so I default it to $2500 'cause that's the minimum
but then you can also, if you want to do more
you can kind of punch that in and see.
Then you have this little slider here
and you just adjust the slider left and right
to see which cars are in your price range.
Now, I have it filtered so it only shows you the,
it's gonna refresh of course,
it only shows you the top three most expensive ones
for that model that are in your budget.
So the reason I do that is because I'm assuming
that if you set a budget like in this case of $1200
that you want the most car for your money,
you're not looking for the cheapest car
otherwise you would adjust your budget.
So you can agree or disagree with that design choice
but that's how it works.
So in here you can see for $1200 a month
on a 72 month loan at 3.5%
with a $2500 down payment,
you could get the, now I have these labeled as 3P
that's the performance model,
you can get that with the performance package,
white interior, enhanced autopilot, full self-driving
or you could get it with the performance package,
custom paint, white interior,
enhanced auto pilot, full self-driving,
or you could get the multi-coat paint, etc.
And you can kind of see the prices here.
There are bar charts all over the prices so similar
I may kind of remove it, I'm not sure.
And then if you scroll down,
you can see what you have with the Model S
and then you have the Model X.
Now if you wanted to, you can either click in here
and just type it in or you can move that slider
so if I were to move the slider,
let's say down to $1000,
let's go down to say $800, I think a lot of people
were thinking okay 800 bucks a month,
let me see if I punch in $800, there you go.
You can see here are the ones that you can get.
So you can get the dual motor with custom paint,
the dual motor just regular,
or the long range multi-coat paint
with 19 inch sport wheels.
So it's not perfect,
I may include just a list of all of them
or a way to click out to see all of them
and that's kind of how it works.
So have fun with this, guys.
Let me know what you think about it.
It might be a surprise to you
in terms of how expensive things are.
For example, if I put down $5000
but then change this to a 60 month loan,
you can see that this all adjusts.
So again now your cheapest car at all is 800.
So with a 60 month loan and $5000 down,
you're getting just the base Model 3 long range,
and again I don't have the standard edition one
because it's not currently available for purchase.
So there you have it,
if you want to put in $20000, I don't know,
just to see what happens then, $800, boom look at that.
So you get more options there.
Okay, so I hope you guys enjoy this.
The link is in the description.
Let me know if you find bugs,
I just thought it would be a cool way for you to look
and kind of plan alright what Model 3 is in your budget
and then, of course, if you expand it out
you'll get Model S and Model X options as well.
And I did focus specifically
on the monthly payment, the estimated monthly payment,
because I think for a lot of people
that's kind of where it comes home.
We can look at these things and say oh there's incentives.
You'll save money on maintenance, you'll save money on this,
and those are all fine and good
assuming you can afford the monthly payment
because the savings on those other things don't matter
if you can't afford your house payment
because you're paying too much for your car that month.
So I disagree that those things are of greater importance.
I think that the first prime gate you have to get through
is whether or not you can afford a Tesla
from the monthly payment standpoint.
So that's why it focuses on this.
And yeah, let me know what you guys think about it.
Let me know if you find bugs, again, seriously, honestly.
There are definitely bugs in there.