Tesla Roadster Founder Series

Obviously it would be a big gamble at $328k, but given the limited availability, I would not be surprised if you could on sell it for substantially more once it was released.

Any views?

I've got the cash, just wondering if I could tax deduct the interest payment of the currently offset loan?

 

I drive a Tesla. And have another one on order. Insanely awesome cars. I ordered the Cybertruck Dec 2019 with the same thought. The scarcity might potentially increase the value when (if!) it lands here. But my deposit was only a couple of hundred. That is a huge outlay $300k up front for something that may never happen at all or may never get here? If I had that cash spare, I’d consider it. Can you cancel order? Or get a refund if they don’t get here?

 

https://www.google.com/url?sa=t&sou...gQFnoECCoQAQ&usg=AOvVaw3TPczsumxshX7KcfG3S4PV

 

Short term, if you could get one of the first ones then I suspect you'd do well. This is the same for all new cars really as there have been substantial restrictions on supply due to COVID impacts.

Longer term, I suspect you'd be doomed on resale as it'll be replaced with something quickly as the tech continues to develop and evolve, and tech is the centre of the proposition.

 

Did you make a decision on this?

 

Tesla News

Hertz announced an order for 100,000 Tesla Model 3s to electrify its fleet, a move that drove Tesla stock to an all-time high. Hertz’s acquisition cements EVs as a mainstream pillar of American transportation and stands to expose millions of new drivers to EVs for the first time.

Hertz’s 100,000 — In a $4.2 billion deal Hertz will become the US’s largest EV fleet, and EVs will account for 20% of Hertz’s total fleet. Because Tesla can only deliver about 241,000 cars per quarter, the order of 100,000 vehicles will cut out rivals and take some time to fulfill. While 71% of drivers say they would consider an EV sometime in the future, only 39% say they would consider it for their next car. With Tesla set to become one of the most common rental cars in America, this order stands to significantly normalize and popularize electric vehicles.

Tesla’s one trillion — After Hertz’s order, Tesla stock jumped 12% to close at an all-time high of $1,024.86. This boosted Tesla’s overall market cap to over a trillion for the first time. This makes Tesla the sixth largest company in the world by market cap behind Apple, Microsoft, Saudi Aramco, Alphabet, and Amazon.

 

Interesting also (YTD only)

 

A mate of mine who is a total fanboi bought about $13k worth of Telsta shares over the last few years. It will now pay for the Model Y he has ordered, with change left over (he already owns a model 3).

meant to add: maybe if is keeps rolling it will pay for an S... or maybe a Roadster!

 

Which variant ?
What have you ordered ?
Test drove a 3 today, still trying to convince myself that paying twice the cost of an average ice vehicle is worth it.....

 

Model 3 SR+ white on white. I have had it for a couple of months. Adore it. I was only saying today I feel guilty driving my ICE car now… I kept my old car in case I didn’t like the electric vehicle. Or found it a hassle. Plus I have two learner drivers to go yet. I could not go back to an ICE though. Apart from being incredibly pleasurable to drive, it has cost me $27 to do 560kms this month. Just charging at home on regular power. The other car would cost me about $130 to do the same kms. So it is extremely economical to run. No services required for years, other than air filter and windscreen wiper water. It’s better for the environment. It beats almost everything else on the road off the mark! It has so much FUN stuff inside… EV rebate at the moment you can get $3k plus stamp duty back. I am eligible for $5250 rebate in total. I love the convenience of just plugging it in when I get home. I can charge for free at many other places as well. The EV KLM tax doesn’t start for 6 years in NSW, unlike in Vic where it is already implemented. I haven’t done a long trip in it yet. As a daily driver it’s fantastic. What model did you test drive? Did you enjoy it? Did you get to have a good go in it with the insane acceleration?

 

No deduction. Its doesnt produce income. Its also a loan to acquire a car. No logbook, no deduction. Buying for resale the interest may reduce profit on sale. Of course consider GST issues since you must charge GST on the resale price but may be able to claim SOME of the GST on the acquisition. GST paid on purchase of a car has a cap. Dealers are exemption but you arent a dealer...and may also need a state govt dealers license to be allowed a full credit for the GST incurred. eg assuming value of car is $30K the GST on your acqusition is $27K. Of this only $5800 is creditable. You will lose $21K in GST PLUS on resale must remit 30K on the resale. It will eat up your profit. Not to mention stamp duty.

In "theory"you could apply for a dealers license and conduct a busienss to bypass some of this. Your resale is then a "new vehicle" too. You may also get the benefit of a credit for the luxury car tax paid the first time around so its not duplicated.

Planning could be a key issue

When LCT applies