I recently decided to make the move from leasing to buying, as a result of the large amount of miles I put on annually. As I began the journey of research and pricing, the following 3 things are the most important to my buying decision: Comfort, upkeep and resale value.I definitely plan on reselling my car within the next 4 years which is why I would generally recommend buying slightly used, but that's another conversation.
So thus the process began. I personally like the higher-up-feel, so an SUV is my go to vehicle of choice. I rented a GMC Yukon for a month (thank you Amex / Hertz promotion). After about one week I realized I was getting around 12 miles a gallon. I quickly calculated and realized I would be paying roughly $700 a month minimum in gasoline. The comfort was okay, but the gas was really hurting me. Additionally I ran some research, upkeep can be quite costly.
That brings me to last Thursday. I randomly passed a Tesla dealership and was intrigued, especially being fed up with the cost of gas. I eagerly test drove the Tesla Model X and instantly fell in love with it. According to my projections I will be paying a mere $15 monthly for electricity. Furthermore, although there is no real data on resale value, predictions are showing that there should be a tremendous return considering that it is a battery operated car. After running both prices next to each other I would be saving $200 month by buying the much more expensive car. Sounds like a no-brainer to me.
Will I end up buying it though? I don't know. It's expensive and a lot more than I ever thought I can afford. However I'm betting I can recoup a large portion down the line, which is why I would consider it in the first place.
Would love to hear your thoughts below!