Roric
Silver Member
Here is what I did (and some of the 'why')That is good plan.
By signing up for SS at age 70 instead at age 62 the larger SS payout pays for a new Tesla every 3 years and monthly fuel savings pays for the FSD package that I need. Driving the most USA made and safest car for me and others that I met on the road is icing on the cake.
There seems to be multiple ways to skin a cat on the cheap. I bought new in 1973 ($2150)and then again in 2023 ($47.5K). As you buying well worn used cars for 50 lean years turned out to be for the best at our house. Potentially having an used Tesla to pass to a kid every three years helps jumpstart my brain each morning.
Thanks for sharing your automotive plan.
YMMV
I purchased a new 2023 Chevy Bolt 2LT $32,600
Trade-in value -9,000
Federal tax credit -7,500
State tax rebate -2,500
This years' gas savings (+/-) -750
net out of pocket $12,850
Some of the why:
The money was from IRA savings that in a short number of years
We have to start taking R.M.D.s on that would raise our tax bill.
I believe car prices are 'out there' and will not be coming back.
I could not have trust in a used car at the net out of pocket price.
Again, YMMV