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Discussion Starter #1
If you've already seen my tales of woe M3 purchase posts on the Model 3 uk owners Facebook page, I apologise :D

The car of my dreams is sat on my driveway. A white SR plus. I phoned the Bristol SC on Friday last week to enquire about any impending inventory cars, and as it happened, they'd had a cancellation the previous day. Washed, registered, ready to go.

The opportunity to scratch that itch got the better of me, and I wired the agreed deposit over. We picked it up at around 1pm on Saturday. I took it blind, without a test drive.

It is incredible; Better than I actually expected. But right now I have knots in my stomach, because, although it is currently affordable, if my employer turns round and says we have to work on half pay, it'll be tight. Indications are that this isn't happening yet.

And lockdown is coming.

I have a good friend in the NHS (paramedic) and last night he mentioned that they're planning for this crisis to last 12-18 months (emphasis on 'planning'). Aside from the personal stress this would cause, that's an awful lot of strain on the economy.

Can I justify £400/month for a car I'll be rarely able to drive on decent trips?

I feel bad for the Tesla staff, particularly the guy in Bristol who sorted the paperwork, because I did warn them that I might be invoking the 7 day clause when I picked it up.

Should I minimise risk and hand the car back today? It Might be the only opportunity if lockdown is imposed tomorrow?
 

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I feel bad for the Tesla staff, particularly the guy in Bristol who sorted the paperwork, because I did warn them that I might be invoking the 7 day clause when I picked it up.

Should I minimise risk and hand the car back today? It Might be the only opportunity if lockdown is imposed tomorrow?
Can you sell the other car, or is this your only one?

As much as it pains me to say, I'd probably drive the car back today. That is if you don't want to have it sat on the drive.
 

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If you've already seen my tales of woe M3 purchase posts on the Model 3 uk owners Facebook page, I apologise :D

The car of my dreams is sat on my driveway. A white SR plus. I phoned the Bristol SC on Friday last week to enquire about any impending inventory cars, and as it happened, they'd had a cancellation the previous day. Washed, registered, ready to go.

The opportunity to scratch that itch got the better of me, and I wired the agreed deposit over. We picked it up at around 1pm on Saturday. I took it blind, without a test drive.

It is incredible; Better than I actually expected. But right now I have knots in my stomach, because, although it is currently affordable, if my employer turns round and says we have to work on half pay, it'll be tight. Indications are that this isn't happening yet.

And lockdown is coming.

I have a good friend in the NHS (paramedic) and last night he mentioned that they're planning for this crisis to last 12-18 months (emphasis on 'planning'). Aside from the personal stress this would cause, that's an awful lot of strain on the economy.

Can I justify £400/month for a car I'll be rarely able to drive on decent trips?

I feel bad for the Tesla staff, particularly the guy in Bristol who sorted the paperwork, because I did warn them that I might be invoking the 7 day clause when I picked it up.

Should I minimise risk and hand the car back today? It Might be the only opportunity if lockdown is imposed tomorrow?
If you have that worry and can't afford the possibilities, then take it back.

Sad....

However, I am sure they really don't want the car back right now, all things considered in every dimension. Why not propose a modification to the terms, and a continuation/extension? Everyone is having to adapt here.

Say "I'm going to have to hand it back, because my income is uncertain, however if you can extend the 'return by' deadline to {60} days then I will make my decision by then, and if I return it with additional miles on it I will pay you fair mileage; {60p/mile}"

The {} are my proposals, you can begin bidding with whatever figures you like, but you'd have to find an accommodation and mutually agreeable figures with the vendor. The thing is, you have the strong hand here, so no need to oversell it to yourself.
 

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Discussion Starter #4
Can you sell the other car, or is this your only one?

As much as it pains me to say, I'd probably drive the car back today. That is if you don't want to have it sat on the drive.
My Leaf sold a week or so ago to cover the deposit. If I hand the Tesla back, we're reliant on my girlfriend's car (55 plate skoda octavia) for day to day transport - which has been fairly reliable, even if it is a smelly old diesel.

I finish at 1600. Looks like we will be driving it back this afternoon. Haven't called them yet to warn them.
 

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Before committing to such a large amount of debt, I would first spend the next 6-12months putting £400/month aside and seeing how manageable it is. After all, where is this £400/month coming from, if you haven't already been saving it?

Worse case scenario is you realise it wasn't manageable and you have £2,400-£4,800 saved. Better than having to sell the car at a loss to settle the debt.

Being pedantic, but no one can ever know they can afford a loan. What you know is that you could afford it should nothing ever change in your income or outgoings over the next 4yrs....it's not uncommon for life to have other ideas...
I see you took my advice on your previous thread about a month ago when you posed the question...:p

Yes return it.
There is absolutely no rush to do this. You can do it again in 6months/12months/36months time.
 

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Discussion Starter #6
I see you took my advice on your previous thread about a month ago when you posed the question...:p

Yes return it.
There is absolutely no rush to do this. You can do it again in 6months/12months/36months time.
Turned out to be sound advice. My man-maths were saying it'd work out, especially as we're no longer paying nursery fees until September.
 

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Maybe someone should quote me, if they think it is a reasonable suggestion, I think cjm is one of my 'ignorers'.
 

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Discussion Starter #8
If you have that worry and can't afford the possibilities, then take it back.

Sad....

However, I am sure they really don't want the car back right now, all things considered in every dimension. Why not propose a modification to the terms, and a continuation/extension? Everyone is having to adapt here.

Say "I'm going to have to hand it back, because my income is uncertain, however if you can extend the 'return by' deadline to {60} days then I will make my decision by then, and if I return it with additional miles on it I will pay you fair mileage; {60p/mile}"

The {} are my proposals, you can begin bidding with whatever figures you like, but you'd have to find an accommodation and mutually agreeable figures with the vendor. The thing is, you have the strong hand here, so no need to oversell it to yourself.
I've told them I'm handing it back, with a view to re-assessing in 12 months time. They seemed fine with that.
 

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Turned out to be sound advice. My man-maths were saying it'd work out, especially as we're no longer paying nursery fees until September.
Best laid plans of mice and men...sorry to hear it didn't work out :(

It'll be a much more exciting when you come to do it in the future knowing you have no worries financially. I've got my eye on the Model Y, but know it will likely be another 1-2years of saving before I can purchase one without worrying about the financial impact.

Wishing you and your family all the best!
 

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I've told them I'm handing it back, with a view to re-assessing in 12 months time. They seemed fine with that.
Fair 'nuf. Sounds the right outcome given the scenario you describe, but keep an eye out for an opportunistic bargain! ;)
 

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sad but sensible decision, I only work about a mile from home and my 3 was still racking up over 1k a month with visiting family and business trips. I can now see that dropping about about 100 miles a month for a while. I'm planning on keeping the car long term so the monthly payments will be less painful as I'm paying the car off rather than a lease or pcp. However we've also put an order down for a Pug 2008, which we're considering cancelling for the same reasons. The only difference there is that the factory is closed so who knows when we'd actually get it anyway, so might leave the order open.
 

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I've told them I'm handing it back, with a view to re-assessing in 12 months time. They seemed fine with that.
Uncertain times, think you did the right thing I would have come to the same decision. With the current situation if they offered me to return my car and walk away I probably would. Not got the option!
 

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Discussion Starter #13
it's back with Tesla.

What a machine. If I survive the next 12 months, and Tesla as a company survive the next 12 months, I will be getting another one. Maybe even sooner if the prices crash and the LR falls into my affordability bracket, or if Tesla budge on their same-trim-within-12 months rule.

Mine was the second car to go back today at that branch.

Tonight's announcement re-assured me that I'd made the correct decision.

I have it on good authority that the '3 week' duration of the lockdown will be more like 6 months at the very least.
 

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Absolutely the right decision. Its only a car after all. Taking on a financial commitment with such an uncertain future is madness really.
 

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Brave and correct decision. No need for additional money worries at times like this. Tesla will have no bother selling it due to the high demand, not to mention the factory closing down.
 

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There are things in life which are far more important than a Tesla, it sounds like you're doing the right thing.
 

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Discussion Starter #19
Uncertain times, think you did the right thing I would have come to the same decision. With the current situation if they offered me to return my car and walk away I probably would. Not got the option!
Look after it and and when this all blows over you might find a private buyer.... which could be me, unless the prices drop and the LR falls within budget :D
 

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I'm currently trying to find a way of getting mine, a M3P paid for in full a week or so ago. Was supposed to pick up this Friday from Bristol, but that's looking more and more difficult / impossible.

I have had thoughts about cancelling, it's £61k of cash tied up in a car I can't drive, which if I tried to sell (if anyone was actually allowed to come view it) I'd be bid in the balls on, guaranteed. "I'm doing you a favour" sorts all day long.

But, I'm still buying it. I'm 42, not the highest risk but not the lowest. In the coming months there isn't going to be much to be cheery about, and there's an above average chance the only journeys I'll be allowed to do is to the supermarket and back. If that's my life for the next 12+ months, then I'm going to enjoy it as much as I can.

There is also a part of me that is thinking that this virus is a reminder of how fragile and short life can be. If I get the bad version of this virus, then at least I'll have enjoyed the time up until then, in some small fashion.
 
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