Town Square

Post a New Topic

Tesla announces new financing plan

Original post made on Apr 3, 2013

Tesla Motors chief executive and co-founder Elon Musk announced April 3 a new financing plan for its Model S electric cars that's aimed at making them affordable for more people.

Read the full story here Web Link posted Wednesday, April 3, 2013, 9:17 AM

Comments (7)

 +   Like this comment
Posted by Garden Gnome
a resident of Crescent Park
on Apr 3, 2013 at 11:23 am

I'm so glad that, as a taxpayer, I too get the opportunity to help Tesla's customers purchase their product:

"... federal and state tax guarantees that range from $7,500 to $15,000, depending on each state."

plus the $465 million dollar "loan".

Elon - don't worry about the $11 billion or so in your pocket - I've got you covered.


 +   Like this comment
Posted by Chris Zaharias
a resident of Crescent Park
on Apr 3, 2013 at 12:19 pm

I'm ambivalent on this whole Tesla project, especially as regards government loans & tax guarantees that make the cars artificially less expensive. Frankly, I think I could do a better job investing my own money than the government can, and am feeling the bite of higher CA taxes right about now.

I'm sure, however, that there are many who support the government intervention in this nascent sector, so I'm wondering if anyone has data on what the financial payback (not environmental, mind you) will be on this investment?


 +   Like this comment
Posted by Not really
a resident of Professorville
on Apr 3, 2013 at 3:45 pm

Considering the 50% down Tesla wants just to put your car on order makes this Model S unavailable to almost everyone. Then the remainder would have big payments, like $700/month.

If Elon gives some creative financing, the payments would be humongous or very long-term, which is unhealthy indebtedness.

Musk has stated publicly that he wants to build expensive cars for the upper class so that he does not have to produce a lot of cars, which he would have to due if he built more affordable cars.

Makes his true motivations suspect, no?


 +   Like this comment
Posted by Radio Controversy
a resident of Barron Park
on Apr 3, 2013 at 4:05 pm

"Makes his true motivations suspect, no?"

Actually, here's a good explanation for this new style of financing (nutshell: it's a tax thing): Web Link


 +   Like this comment
Posted by Not really
a resident of Professorville
on Apr 3, 2013 at 4:36 pm

When we looked into buying a Model S a few months ago, we were treated like lowlife. Guess we do not dress well enough on a weekend. I thought they were going to take blood samples to get our blood types!

A lot of what I have read indicates that he does not support his six children by his first wife, claiming poverty and inability to pay ( he originally had seven kids, one passed away). His wife is hauling him to court, apparently, after getting pictures of him entertaining his starlet-girlfriend very lavishly.

So it makes sense that he would look for another tax break, rather than simply doing the right thing and bringing electric cars to the masses.


 +   Like this comment
Posted by Carlito Waysman
a resident of Old Palo Alto
on Apr 3, 2013 at 5:48 pm

Not Really said :"A lot of what I have read indicates that he does not support his six children by his first wife, claiming poverty and inability to pay ( he originally had seven kids, one passed away). His wife is hauling him to court, apparently, after getting pictures of him entertaining his starlet-girlfriend very lavishly.

So it makes sense that he would look for another tax break, rather than simply doing the right thing and bringing electric cars to the masses."

Looking for an entrepreneur to be a beacon for good morals, ethics, and social/civic responsibility?

And I love it when the majority of taxpayers get to contribute for the rich expensive wheels, first by a big loan to Mr. Musk to start his Tesla firm, and now in the form of "tax breaks" to make it "more affordable".

Who says that there is not welfare for the rich in this Country?


 +   Like this comment
Posted by More-Money-For-Musk
a resident of Another Palo Alto neighborhood
on Apr 4, 2013 at 9:47 am

> Musk said that he believes the true net out-of-pocket
> cost of owning a mid-range Model S will drop to less
> than $500 a month when considering the savings from
> using electricity instead of gasoline, depreciation
> benefits and other factors.

Interesting.

Wonder how this scenario of $500/month (does this include insurance) will fit into the monthly budgets of those that are at the bottom of the economic spectrum--

Web Link

New statistics from the US Census Bureau reveal
that one in every six Americans is living below
the poverty line.
-----

Financial involvement with Tesla, or other questionable "green" business interests is a poor use of taxpayer's funds. Taxpayer bail outs of GM and AIG was obscene—but this is just more icing on the cake.


Don't miss out on the discussion!
Sign up to be notified of new comments on this topic.

Email:


Post a comment

Posting an item on Town Square is simple and requires no registration. Just complete this form and hit "submit" and your topic will appear online. Please be respectful and truthful in your postings so Town Square will continue to be a thoughtful gathering place for sharing community information and opinion. All postings are subject to our TERMS OF USE, and may be deleted if deemed inappropriate by our staff.

We prefer that you use your real name, but you may use any "member" name you wish.

Name: *

Select your neighborhood or school community: * Not sure?

Comment: *

Verification code: *
Enter the verification code exactly as shown, using capital and lowercase letters, in the multi-colored box.

*Required Fields

Sneak peek: Bradley's Fine Diner in Menlo Park
By Elena Kadvany | 4 comments | 3,341 views

Marriage Underachievers
By Chandrama Anderson | 0 comments | 1,649 views

Politics: Empty appeals to "innovation"
By Douglas Moran | 13 comments | 1,608 views

A Surprise!
By Cheryl Bac | 0 comments | 1,537 views

It's Dog-O-Ween this Saturday!
By Cathy Kirkman | 2 comments | 820 views