Your Limited-Edition Foundation Series Cybertruck is Ready to Order!

[FIREarly]

As a long-term Tesla stock holder, pre 5:1 and 3:1 splits, I just got the email, "Your Limited-Edition Foundation Series Cybertruck is Ready to Order... As a long-term shareholder, you have been prioritized for early delivery of your Foundation Series Cybertruck."

The reason for writing this here is because I've told almost nobody besides my other half. I live near a popular airport to peer-to-peer, Turo and Getaround, it. Also, can put it on Peerspace for commercial photos/videos of it. These are time lost (driving to-from airport, getting truck washed, etc...) and I don't drive a ton. W*rk W2 100% remote.

This is for the signature Foundation Series that is going to be done selling after Q3 (Scarcity value), if what Elon said at the Annual Stockholders meeting holds true... amd when had his verbal timing queues been off

Quick Financial Numbers (40 yo)
B/D: $151,841 (trad ira, Roth, hsa, and $38k non-retirement accounts; maxed roth a few years in a row and will do it again this year)
TSP: $5,244 (contributing to the match)
Crypto money in cash: ~$4,000 (hoping to get more back from BlockFi )
CD: $51,934 (Emergency Fund)
Bank account: $36,101
Backup bank account: $1,740
Just started Airbnb and it's going to be a Superhost after the first 3 months active. It's made ~$4,000. Will raise the ADR with the Superhost badge. (In the red for a while to make the money back but have BIG plans for it; totally separate post might be written about it)

Today, did the math and will contribute ~$11,440 this year to Roth IRA and Roth TSP.

This does not include other half numbers bc they are significantly smaller and don't have them.

What are your thoughts on the subject and what you've read above?

 

[audreyh1]

I posted a picture of me standing next to a Foundation Series Cybertruck a few months ago in the EV Models thread. We took the photo because we couldn’t get over how huge it was. Not sure about scarcity - it was in a Tesla Center parking lot and I don’t think had been earmarked for anyone. A couple of months later we saw someone driving a foundation series in the area - maybe they sold it, who knows. But we have lots of Space X folks not far away.

When we bought our Model X we were already long retired and had the excess funds for it. Never considered any investment aspect and still don’t about vehicles. Also insurance expenses to consider. Still working and a lot still needed to save to achieve financial independence - I doubt I’d buy one.

 

[HarveyS]

I would not spend $100+k on a car and then rent it to strangers. No way, no how.

 

[Midpack]

I would not spend $100+k on a car and then rent it to strangers. No way, no how.

+1.

Plus I own a Model Y and love it, but it seems every Tesla model has teething pains so I’d be reluctant to buy an early addition of any new Tesla model. There have been niggles with the Cybertruck just like the Model S/X/3/Y. You can’t take a Tesla to your local independent mechanic and Tesla service can be hit or miss, service is not a profit center for Tesla unlike legacy auto. YMMV

 

[JoeWras]

There's one running around my area of the city. DW saw it yesterday and when she got home, she said to me: "There's a tank on the roads, have you seen it?"

I just chuckled and pulled up a picture and she says: "That's it!"

This vehicle WILL get everyone's attention, that's for sure.

I'm sure it would get attention as a rental, but I agree with others, there's no flippin' way I'd rent out a Cybertruck, let alone the special edition.

 

[Aerides]

They already recalled all the ones the sold due to a fault on a brake pedal, and it was only ~3800 ish? There are reports of folks finding their trucks bricked after a carwash. It also seems super high maintenance for the finish - don't let it stay wet or dirty or it might pit, etc.

If I wanted one, I'd wait a few years till they work out the kinks, and also see what some look like in the wild once they have a little street life on them.

Aside from all of that, no I would not buy any car to rent it out. If I did, I'd expect to perform a complete detailing on it every time I got it back, and worry if it rained while it was on loan.

ETA: Just saw another recall, this time for windshield wiper failure, and cites the total now sold at about ~11k vehicles.

I wonder why anyone has to wait for one right now when they say they are making 1300 per week?

 

[Christine]

Perhaps your budget would look better if you waited until the regular edition became available. It will cost tens of thousands less so the math looks better.

And if you get one to let others drive it I'd prefer renting out a standard edition and not the expensive foundation edition.

Apart from that - I would have gotten very exited to get such a letter from Tesla. But since I live in Europe it's not very probable. So no dough blow temptation for me.

 

[Sojourner]

I would not spend $100+k on a car and then rent it to strangers. No way, no how.

+1
Based on your numbers, OP, you're a long way from FIRE, and buying a $100k+ gimmicky "truck" seems like almost a guaranteed way to get there even slower. Focus on investing and wealth building strategies that are time-tested, like maxing out your 401(k) contributions and then directing any additional discretionary income to after-tax brokerage accounts. I know advice to just plow as much as you can into S&P500 funds seems boring in comparison to "sexy" things like buying and renting out a Tesla Cybertruck, but trust me (and many, many others here at E-R.org)... it works.

 

[OldShooter]

+1
Based on your numbers, OP, you're a long way from FIRE, and buying a $100k+ gimmicky "truck" seems like almost a guaranteed way to get there even slower. Focus on investing and wealth building strategies that are time-tested, like maxing out your 401(k) contributions and then directing any additional discretionary income to after-tax brokerage accounts. I know advice to just plow as much as you can into S&P500 funds seems boring in comparison to "sexy" things like buying and renting out a Tesla Cybertruck, but trust me (and many, many others here at E-R.org)... it works.

+2
For 40YO you really do not have a lot of money. Without knowing your income it's a little difficult to know why, but the $4K of crypto points towards poor judgment. The idea of buying a silly vehicle and renting it out to cover the cost points the same way. The AirBnB scenario is inconclusive, but certainly the heyday of short-term rentals has passed. Competition is now significant and regulation is becoming more and more burdensome. All this makes me suspect that you are getting in at the top.

The brutal truth is that investing is boring and opportunities that look like fun are unlikely to be. William Bernstein's comment is worth considering at your stage of life: “Make no mistake about it: The object of this particular game is not to get rich – It’s to not get poor.”

 

[Sojourner]

William Bernstein's comment is worth considering at your stage of life: “Make no mistake about it: The object of this particular game is not to get rich – It’s to not get poor.”

Excellent quote! Had not heard that one before.

 

[tutan]

As a long-term Tesla stock holder, pre 5:1 and 3:1 splits, I just got the email, "Your Limited-Edition Foundation Series Cybertruck is Ready to Order... As a long-term shareholder, you have been prioritized for early delivery of your Foundation Series Cybertruck."

The reason for writing this here is because I've told almost nobody besides my other half. I live near a popular airport to peer-to-peer, Turo and Getaround, it. Also, can put it on Peerspace for commercial photos/videos of it. These are time lost (driving to-from airport, getting truck washed, etc...) and I don't drive a ton. W*rk W2 100% remote.

This is for the signature Foundation Series that is going to be done selling after Q3 (Scarcity value), if what Elon said at the Annual Stockholders meeting holds true... amd when had his verbal timing queues been off

Quick Financial Numbers (40 yo)
B/D: $151,841 (trad ira, Roth, hsa, and $38k non-retirement accounts; maxed roth a few years in a row and will do it again this year)
TSP: $5,244 (contributing to the match)
Crypto money in cash: ~$4,000 (hoping to get more back from BlockFi )
CD: $51,934 (Emergency Fund)
Bank account: $36,101
Backup bank account: $1,740
Just started Airbnb and it's going to be a Superhost after the first 3 months active. It's made ~$4,000. Will raise the ADR with the Superhost badge. (In the red for a while to make the money back but have BIG plans for it; totally separate post might be written about it)

Today, did the math and will contribute ~$11,440 this year to Roth IRA and Roth TSP.

This does not include other half numbers bc they are significantly smaller and don't have them.

What are your thoughts on the subject and what you've read above?

Cybertruck styling is ahead of the time in a sci-fi movie (B movie?) prop sort of way. Some people will want to try one. Why not buy a product from a company whose stock has made you a bundle? I suppose we buy Iphones and Ipads for the same reason.

 

[Car-Guy]

Cybertruck styling is ahead of the time in a sci-fi movie (B movie?) prop sort of way. .

+1

 

[RetiredAt55.5]

I would not spend $100+k on a car and then rent it to strangers. No way, no how.

+1

One of the reasons Hertz is selling off all their Tesla's was because of too much downtime due to renters treating them roughly and how long it took to get repairs done, particularly if it involved bodywork.

Renters also don't care about "good" charging practices.

 

[ncbill]

+1

One of the reasons Hertz is selling off all their Tesla's was because of too much downtime due to renters treating them roughly and how long it took to get repairs done, particularly if it involved bodywork.

Renters also don't care about "good" charging practices.

Yep, reminds me of the joke: what's the difference between a rental car and a Jeep?

There are some places you just wouldn't dare try to take a Jeep...

 

[ShokWaveRider]

I cannot imagine why anyone finds this so called Cybertruck remotely attractive!

 

[EastWest Gal]

I just saw my first one driving back from the pool yesterday. It's ugly and frankly frightening.