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TMFPostOfTheDay (< 20)

How to Get a Free Tesla



August 06, 2014 – Comments (0) | RELATED TICKERS: TSLA

Board: Macro Economics

Author: ItsGoingUp

I answered "Other" because I think it all depends on context. Here's mine. I've admired Elon Musk for quite a while, and I've been very impressed with the cars he's been building. I think he's trying to do things that improve the world we live in. However, the cars that Tesla has built so far are insanely expensive. I've never owned anything close to a luxury car. Most of my life I've driven used cars or fairly old cars (I recently gave away my '94 Accord which I got new, exchanging it for a five year used hybrid SUV).

Last September I decided that I wanted a Tesla, but the only way I'd feel okay about getting one is if it was free. I figured that by the time they came out with their mass market car (maybe 2017?) I could make enough money in Tesla stock to buy a Tesla car, about $40K, thus making it free. So I allocated about $30K I decided I could afford to lose and started trading TSLA, mostly options. Since then I've made about sixty trades and recently (due to the rapid growth in stock price) grew it to the amount I need to buy and own a Model S (around $200K since I have to subtract about 1/3 in capital gains taxes). I far exceeded my original goal and did it much faster than I expected. It's definitely better to be lucky than good.

Buying such a thing feels like a ridiculous way to spend money. On the other hand, I've found it very interesting to invest (read gamble) with a specific goal in mind. And I rationalize that discipline is everything in investing, and if I don't follow through on my intention then I'm failing to be disciplined. :)

In any case, I take delivery of my P85 in late September. The hardest part of the exercise is going to be cleaning all the crap out of my garage so I have some place to put the thing. Also perhaps deciding who amongst wife and kids gets to drive it when. Or maybe trying to explain to my friends why I'm not being self indulgent, just disciplined.

(retired early and getting into trouble) 

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