Apr 012015
 

The market for new high-end vehicles is growing quickly. Last year in Canada more than 1 in 10 car buyers went luxury. I don’t like to feel left out so I’ve decided it was time I upgraded to a newer, faster car. #YOLO! 😀 Since this is a finance blog I’m going to share my experience buying a $100K+ car.

Being an environmentally conscious millennial I’ve decided to buy a TESLA! I know it’s not cheap, but Watt good is money if we don’t spend it, right? 😉 The Tesla Model S is rated as the safest car in America, and Consumer Reports has named it their best car for 2 years in a row. Ohm my goodness! With accolades like that how can I not buy one? 😎

So in early February I visited the Tesla showroom here in Vancouver (929 Robson St.) They had a white Model S on display. Here are some pictures I took.

15-04-tesla-model-s-showroom

The biggest decision when buying a Model S is choosing the right battery capacity. After consulting with a product specialist, Sandy, I’ve chosen the larger 85 kWh battery configuration, which has 380 hp and can accelerate from 0 to 60 mph (100 km/h) in just 5.6 seconds. Its top speed is 225 km/h (140 mph,) and it can travel about 400 km (250 miles) on a fully charged battery, which is a pretty good range for an all electric vehicle. 🙂

Purchasing a Tesla Model S

The total cost for my white 85 kWh Model S came to about $105,000 including tax. I was also charged $1,000 for delivery and $180 for prep. There’s a $5,000 government rebate in B.C. for electric vehicles. As someone who clearly lives a frugal lifestyle I always try to capitalize on these incentives because it’s basically free money from the government! 😀

The buying process was pretty straight forward. After my test drive, I sat down with a sales rep who helped me customize the options. Then I made a deposit of $2,500 with my credit card. Tesla said delivery usually takes place about 2 months after an order is put through because they have to source all the parts and custom build the customer’s car.

About 9 weeks later I received notice that my Model S has finally arrived in Vancouver! So earlier this week on Monday I excitedly went down to the Tesla service centre to pick up my brand new car!

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May 112013
 

Hope everyone is having a great weekend. Let’s look at some current business and economic news.

Electric Power – Consumer Reports recently reviewed the 2013 Tesla Model S, and claimed it was the best car they’ve ever reviewed. Not the best electric car, but the best car, period – Giving the vehicle 99 out of 100 points. Around the same time Tesla announced it was profitable for the first time in its history. If you are a fan of electric cars then $80,000 would get you the award winning sedan in Canada, $70,000 in the US. I hear it comes delivered straight to your home.

13_05_tesla

$TSLA shareholders must be ecstatic as the publicly traded company’s stock price jumped up 25% in one day after the news on Thursday. Some people believed the stock would level off after that or even pull back a little, but on Friday its stocks gained another 10%. It is currently trading at $76.76/share, which puts the company at $8.8 billion market cap. Is Tesla Motors a good investment now?  I don’t know. It’s hard for me to value a company if it doesn’t have a long record of profitability. Plus I don’t understand the auto business very well. So I won’t be buying into the rally, but will keep an eye on this company with interest 🙂 Do you think Tesla will be a good long term investment?

Right on Target – US retailer Target has finally started to open up stores in Western Canada. I haven’t been to any yet but I’ve heard the one in Coquitlam Center which has just opened its doors will be very busy. I plan to visit a local Target soon and check it out for myself. It’s important to me that Target succeeds in Canada because one of the reasons I invested in them earlier this year is because I believe Canadian shoppers will give $TGT a lot more business than analysts are expecting 😉 Hurray for consumerism! Go Target 😀

Fund Update – I sold about $5K of stocks in May so far. I also received that nice check last week from my tenant. I now have about $9K saved up for my $25K farmland fund. Just need to come up with $16K more. I think it’s doable 😀

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Blog roundup – Personal finance and other interesting articles from around the web

Makingsenseofcents talks about how she makes money by writing online
Marissa from Thirtysixmonths has a way to make budgets easier to stick to
Seapotato shares some pictures she took at a seafood event. She got to meet David Suzuki :0) #jealous
Reach Financial Independence explains why she upgraded to a paid bank account
Canadianbudgetbinder shares his family net worth. They’re really good at paying down their debt :0) Awesome job

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Random Useless Fact: A group of pugs is called a grumble