buyng a Tesla MY...

[Anonymous]

Hi,

I'm planning to buy a Tesla Model Y - LR.

Income: $115K per year (13 years Full time employment) 

monthly Debts:

mortgage: $ 2,400

SL: $55 (balance $1,600). oldest debt, that's why I don't want to pay it off and close it yet.

Car to buy: Tesla Model Y - LR

price: $58K

downpayment: 25K 

here is my plan:

finance: $33K

loan term: 72 months

interest: interest per Tesla Finance for good-excelent credit 2.49% (I'm assuming I can get this rate since I have a good-excelent credit rating FICO 761 to 798

VantageScore 3.0 (Transunion) : 798

FiCO Score 8 (Transunion) : 761

monthly payments: $494

My plan is making extra payments. Also I'm expecting some extra money sometime next year but don't know when? so As soon as I get this extra money I would like to apply it to principal-only payment.

Do you think it's a good plan???  any comments??

Thanks,

[pizzadude]

---

@Anonymous wrote:

Hi,

I'm planning to buy a Tesla Model Y - LR.

Income: $115K per year (13 years Full time employment) 

monthly Debts:

mortgage: $ 2,400

SL: $55 (balance $1,600). oldest debt, that's why I don't want to pay it off and close it yet.

Car to buy: Tesla Model Y - LR

price: $58K

downpayment: 25K 

here is my plan:

finance: $33K

loan term: 72 months

interest: interest per Tesla Finance for good-excelent credit 2.49% (I'm assuming I can get this rate since I have a good-excelent credit rating FICO 761 to 798

VantageScore 3.0 (Transunion) : 798

FiCO Score 8 (Transunion) : 761

monthly payments: $494

My plan is making extra payments. Also I'm expecting some extra money sometime next year but don't know when? so As soon as I get this extra money I would like to apply it to principal-only payment.

Do you think it's a good plan???  any comments??

Thanks,

---

Looks like your payments would run around $500, so I think you'd be fine from a DTI perspective, assuming the above mortgage is your only other monthly payment.

[Anonymous]

---

@pizzadude wrote:

---

@Anonymous wrote:

Hi,

I'm planning to buy a Tesla Model Y - LR.

Income: $115K per year (13 years Full time employment) 

monthly Debts:

mortgage: $ 2,400

SL: $55 (balance $1,600). oldest debt, that's why I don't want to pay it off and close it yet.

Car to buy: Tesla Model Y - LR

price: $58K

downpayment: 25K 

here is my plan:

finance: $33K

loan term: 72 months

interest: interest per Tesla Finance for good-excelent credit 2.49% (I'm assuming I can get this rate since I have a good-excelent credit rating FICO 761 to 798

VantageScore 3.0 (Transunion) : 798

FiCO Score 8 (Transunion) : 761

monthly payments: $494

My plan is making extra payments. Also I'm expecting some extra money sometime next year but don't know when? so As soon as I get this extra money I would like to apply it to principal-only payment.

Do you think it's a good plan???  any comments??

Thanks,

---

Looks like your payments would run around $500, so I think you'd be fine from a DTI perspective, assuming the above mortgage is your only other monthly payment.

---

yes, montlhy payment would be about $500, and will make extra payments too....

sorry.. I forgot to mention that I do have a CS $1600 monthly... besides that the y only debts are mortgage and SL ($55, w balance of $1,600)

Do they ask if I'm paying CS ?

[Anonymous]

With those stats and down payment you'll be fine. Maybe consider a lower down payment, money is cheap now. Those 25k can give a higher return somewhere else.

[Anonymous]

---

@Anonymous wrote:

With those stats and down payment you'll be fine. Maybe consider a lower down payment, money is cheap now. Those 25k can give a higher return somewhere else.

---

Where can I invest the money?? should I put money in the 401K/457 ???

[Anonymous]

It's very difficult to make a recomendation since everyone's situation is different. I would talk to a financial advisor. 

Personally, I keep a good chunk of my money in my stocks portfolio and I add more every month.