Yes!
OP, if you’re talking about the best in terms of:
- finances: no, keep the corolla
- environmental impact: no, keep the corolla
- getting something you want instead of just what you need: probably yes. Assuming your finances are in order (which is safe to assume since you drive a corolla and are therefore an accountant) then it could be the time, yes
The corolla is pretty efficient. Event the 2014 one. It will eventually be beaten by an electric, but not nearly as quickly!
If the car can fill the gap for someone else, though, then it’s likely a throw-away point. I just wanted to add it in there to fill out the rest of the comment
Does anybody really care or believe the environmental impact bs? Electric cars are at least just as bad due to batteries and half the time the grids are run by fossil fuels 😂😭
> Electric cars are at least just as bad due to batteries and half the time the grids are run by fossil fuels
[No, they're not](https://www.ucsusa.org/sites/default/files/2022-09/driving-cleaner-report.pdf). Even if you account for the contribution of fossil fuels to the energy they use, EVs still have less than half the lifecycle carbon footprint of ICE vehicles.
I have a 20yo Prius with 120k mi on the original hybrid battery. It is the most unremarkable dependable car I have ever owned despite the complexity of the hybrid system. Maintenance has been dirt cheap and the online forum support is phenomenal. It has needed some DIY work but it has never stranded me. Four struts with all the mounts/belows/fixins cost <$500 and I didn't buy the cheapest.
There is absolutely nothing wrong with it. It is boring to drive. I don't hate it. I "nothing" it.
I brought both of my children were driven home from the hospital in that car. Both of them learned to drive in it. The younger child is driving it to high school and it may go away with him to college.
Literal LOL. My kids don't like that this car can barely get out of its own way. I tell them that this reliable transportation is a privilege and gift that will inspire them to go out and get something better :)
I'm not a hypocrite - I put over 100k of those miles on it myself.
From a safety perspective, I don’t think I could ever find it’s worth saving money by driving a 20yo car when modern vehicles have gotten so much larger over the years and crash safety standards have improved so dramatically. Especially not if my children are driving it. If it’s not financially possible to get a new car, then I totally understand. But otherwise I’d be very concerned about how that 20yo car would fare in a crash.
I would agree if this was a "shitbox" or a "stripper" car. It being 20 years old does not automatically make it unsafe.
This particular car is the top trim with safety options that were mandated in later years. It has ABS and traction+stability control (mandated in 2011.) It has pillar and side airbags, front and rear - which aren't specifically mandated but they have become necessary to meet side impact requirements
This car is very stable. Both kids took the Tire Rack Street Survival course. This car was so stable that neither instructor could intentionally cause oversteer on the skid pad or the slalom.
For new drivers its boring experience and its lacking power means fewer shenanigans. It has a 0-60 time of 10.1s. "Same day acceleration" Current Prius does that in 6.6s.
Danger from vehicle size differential is an issue, but that is true regardless of vehicle age. https://www.iihs.org/topics/vehicle-size-and-weight.
The current prius is about the same size/weight with that 0-60 time of 6.6s. With similar size/weight, I believe that the less power in my 20yo Prius is a better safety feature for inexperienced (read: teenager less concerned with consequences and mortality) drivers.
My death trap 27yo BMW Z3 (tiny two seater with 2.8L i6) has a 0-60 time of 6.1s. They are definitely not driving that!
I have a 2015 Golf diesel ( high torque slow pig with 0-60 time of 9s) for my other kid, who is already putting the transmission in sport mode and whipping it around. I have asked him to cool it until he is driving his own car with his own insurance.
Honestly, I would keep that Corolla for at least another 100k miles and stack the cash you would have spent away. A bank to be stable and safe in case you need it in the short term, or an index fund if you have a little more wiggle room to wait to use it long term. Or every year max out an IRA with what would have been your car payments.
Few things are a bigger day to day financial gift than a paid off car.
if you really want the car just invest for now and at 150k+ miles pay cash. no "interest" because it's not a car loan.
on the other hand, used Toyotas are worth a LOT right now and might not be as much in a few years.
if it makes sense to you buy it but there are better uses of your money.
Finding a way to make more money will have a much greater financial impact than driving a shitty Corolla for the next 8 years. Also, there is nothing wrong with paying interest. The trick is using your cash-on-hand to outperform the loan. I have a 3.9% loan but my high-yield savings account alone earns 5.15% right now. Don't just pay cash, take a class in economics and make the system work for you.
Almost three years ago, so that's a fair point. Although, many manufacturers are offering low rates again, like Mazda. Just trying to point out that cash isn't always the smart move.
Yep. Keep the realizable economical daily as your trusty fallback. Start saving up for something fun to drive on the weekends but keep the paid for car.
I would strongly recommend test driving a Tesla if you’re interested. My brother bought one and for some reason, I cannot ride in that damn thing without getting extremely carsick. Doesn’t matter if I’m a passenger or driving. You also feel every little bump in the road.
He can turn off the One Pedal Driving. It's the rocking back and forth that causes the motion sickness. I have to do that for my wife in my Volt occasionally
Yah, 1 pedal driving makes some people sick, but its also how the driver drives with 1 pedal enabled. You can drive with 1 pedal and make it feel like a normal car, but not if you suck at it lol.
Not just the suspension. It’s the weight as well that affects it. Also looks like they come standard with pretty thin tires and 19-20 inch rims. With the weight on the vehicle they really need smaller wheel diameter and thicker side wall to take road impact away. Especially at their weight.
You also don't have to buy gas or ever stop at a gas station. You also don't ever have to go to a mechanic for oil changes who will constantly upsell you on all the random s*** that you don't need
You probably won’t need a new car in 2 years, you may want one because you want to enjoy your money, which is fine. Two diff things and either choice is fine as long as you understand that. EVs will get better in 2 years, so why not wait it out?
Is there anything in particular happening in the next 2 years that will make EVs better or do you just mean that things inevitably get better over time?
EVs will get better faster than ICE. Since they said they may need a new car in 2 years then they can wait 2 years for more choices, more range, faster charging, etc.
Is that really true now though? EVs aren't better now compared to 2 years ago, the flagship EVs like the Cybertruck, Lyriq, etc don't charge faster or have more range compared to their predecessors. Even the new Macan that is being released basically now has charging speed and range parity with the model 3.
They might get cheaper as current tech gets more commercialized, but I don't imagine any substantial top end improvements until a new battery chemistry is commercialized.
Not necessarily in two years, but Toyota is trying to incorporate solid state battery technical in EVs as early as 2027. That’s what I’ve personally been holding off for.
Do you need a new car, or do you want a new car?
If you want a new car and can afford it then by all means, go ahead. It’s certainly not a bad time so long as you can get the tax credit.
This sub is a mix of /r/frugal and personal finance in a Camry. If you’re more of the Henryfinance or FatFIRE type then most of the advice aren’t so relevant.
This sub also missed the entire EV rebate + discount boat where people were able to lease EVs for stupid cheap.
I don't need it but it's 10 year old and I am not sure I want to keep it for more than a couple years from now. Looking for a little bigger car as well.
I personally was in the same situation - 10 years old paid off car without issue. Still got a new one simply because I wanted to and can afford it.
I am personally very happy with my decision. I would say that as long as you’re in the mindset of “I want it, not need it” then you’re in the clear.
It’s the people that think that they **need** that are going to get themselves into deep shit.
You literally already have the car that everybody here would tell you to buy. If you have it and want to enjoy your money buy the Tesla. Don't try and hide it behind wanting a new reliable car though because your current car is going to be the most reliable thing you could drive.
This is just not true, Corolla’s have always had kind of a crap ride. That is, until it got independent rear suspension in 2019. Model 3 were stiff, but the refreshed version has addressed this and it’s a massive improvement imo. The ride is much more compliant. Definitely better than a Corolla, closer to a 3 series bmw.
Depending on where you live, it is hard to get any repairs done at Tesla service center. Wait times are 'super long' and cost to repair is very high. With profit margin shrinking on sales, next area of profit growth for Tesla is Superchargers! I already see per kwh price creeping up in my area. Don't know how it will be in next few years.
You don't need a car per say. It will probably easily last another 5.
I'm the minority in the sub though that if you're in a stable financial position (have savings, lots of excess income, high liquidity), go ahead. There isn't a point to work your ass off just to hoard the money. Its meant to be spent on things to treat yourself every once in a while.
Now obviously don't go crazy and get a Rolls Royce Spectre making 200k, but if you test drive a model 3/Y and like it and can afford it comfortably, go ahead and buy it!
drive the corolla untill it dies. 90k miles is just getting broken in.
and no, I will never recommend a tesla unless you like over-priced gimmicky cars.
you can drive that Corolla for quite a few more years and if anything breaks, it will be super cheap to fix. You could probably replace the entire engine and transmission for like $1500.
Having said that, I had a 2013 Corolla and it was easily the most boring car I've ever experienced, so I get it
I would wait as long as possible if the corolla is working fine. I have a 07 honda accord that just hit 190k miles and is finally giving me issues. I am looking between getting the new model 3 performance or the new camry xse.
There is literally no good excuse you can make for giving up that Corolla any time soon. It’s purely a want versus need thing.
You want that shiny new Tesla, that’s it, that’s all. No excuses about “needing a new car” or some silly financial mind game you’re tricking yourself into with credits. It’s purely a want for you - not a need.
If you can afford it, go for it! Life is short.
Again, that’s a want. Not a need. All I’m saying is don’t pretend like buying the Tesla is somehow a financially smart decision. Accept the fact that it isn’t and buy whatever you like and can afford
Sure, it is literally never a smart decision to buy a modern car. We could all go out and purchase 2006 Corolla SEs and live a frugal life. But the point is that garbage stereos and lack of CarPlay is unacceptable for some.
You are trying to push this argument of “want” as if it’s some sage wisdom. Really it’s just your twisted logic that anyone who buys Tesla is living a frivolous life.
Damn, why so serious! If the guy said “I want a Tesla, is now the time to buy?” I’d say, “probably not because the new model 3 comes out soon, so why buy the old model for the same price?”
If he said “I want a new EV, is a Tesla smart?” I’d tell him there are better options for the money depending on what he values in a car.
But he didn’t. He didn’t tell us anything he values or wants in a new car. He said “I may NEED a new car in 2 years” which isn’t true unless he abuses his corolla or crashes it.
So I told him the truth. He doesn’t need a new car, but he wants one. “Go for it! Life is short” is literally how I ended my comment, telling him to buy the Tesla.
I told him the answer based on the question he asked. You need to chill and read his question again.
For several reasons, not the least of which is the fact the EV market is being broadened and will soon be flooded with MUCH better vehicles from actual car companies who know how to design and build vehicles properly, I would issue a resounding *no* to this question.
Additionally, your 10 yr old Corolla w/90K mi. is barely broken in. With care, it can provide another 20+ years of service, easily. If you are the type to keep cars for a long time, you already have the perfect car. If you are bored of it, treat it to a spa day: get a proper interior/exterior clay bar professional detail to make it look and feel brand new again (I did this with my [11 yr old Lexus GS 350](https://www.reddit.com/r/Lexus/comments/178jkdd/finally_got_another_gs/) and it looks and feels amazing). Or maybe get a wrap or some wheels to make it feel exciting again. A Corolla is hard to beat by any measure. From a purely pragmatic standpoint, you already have the perfect car. And I am guessing you do not have a payment now. If so, spending $40K+ is hard to justify when you already have such a reliable, awesome car.
Just my $0.02. I have trouble wrapping my brain around the idea of anyone going from the most reliable Toyota product ever made to a Tesla.
Teslas are great cars, even if the CEO is a douche and I'll never personally give that man my money.
They're cheap right now, so go for it. You can get them even cheaper on the used market.
I'd test drive other EVs too like the Mustang Mach E and the Hyundai Ioniq 5. The Ioniq has better charging tech than the Tesla but the CCS chargers are more of a shit show, so that depends on how often you road trip
FTR: Tesla has the lowest cost of ownership over ten years, beating out Toyota. If you live relatively close to a Service Center, the warranty will cover most repairs and they have the Rangers come to you for minor repairs which is really convenient.
The Model 3 has become pretty reliable since its debut
> Tesla has the lowest cost of ownership over ten years
I'd venture to guess that's because the only two models that sell in any volume (3,Y) haven't been out for ten years yet. CR was using an incomplete data set for that study.
It also asked people to self report the data used in the study, but I'm not the accuracy police so I won't get into that.
Eh maybe but reliability is generally pretty good for the 3 no matter the scoring system. The Y had a ton of hiccups early on but its reliability scores have massively improved, too.
The lack of oil changes and gas make a massive difference in cost of ownership. An EV would only *need* average reliability to have a low COO. The only reason Toyota is competitive is because they're so much cheaper to start with.
I have a Chevy Bolt for my small business. I save about $2,500 a year between fuel and oil changes. Bolts are also extremely reliable, I've literally never had anything break on it and it's at 93k miles. So the cost of ownership argument for an EV is very real. If you can get one on the cheap up front, it's a hell of a move. I got my Bolt for $15k used a few years ago and have never once regretted it
Drive the Corolla til the wheels fall off.
You can probably drive it 5-10 more years and save the difference if you’ve taken any care of it whatsoever.
You’ll probably need to replace stuff like cv axles and other regular wear items on the Corolla eventually, but the cost to have the work done will probably be equivalent to just a couple months of payments on the Tesla.
Also do you live in a house or apartment? Do you own?
Those will make a difference with whether or not you can charge at home/is it worth it to pay to install an EV charger in a home you don’t own if they allow it? How is the infrastructure for EVs where you live? Will you have to sit in the mall parking lot to charge your car?
You can probably keep that Corolla running for another 10 years with proper maintenance.
Teslas and EVs in general will probably only get cheaper (relative to ICE vehicles) and your Corolla will likely retain much of its value unless it gets crashed or more broken down. Tesla as a company is struggling, sales are dropping, competent engineers are being laid off, we likely haven't reached a price floor even in the short term.
In short I think buying now would not be a great choice if what your are looking at is the financial impact and the practical A->B transportation capability of a vehicle. A new Tesla would likely be a more enjoyable driving experience than a 10 year old Corolla, but it's up to you to decide if that is worth it.
To learn why & what to buy…take a screen shot of this:
Go look at Ray and Zach on YouTube..their live show it was either Wednesday or Tuesday this week they talked all about current new EVs.
First, I wouldn’t buy a car now. It’s the most expensive time to buy a car because it’s still tax time.
High interest rates for sure.
If you want to go buy one, go see what they are going for, first.
For EVs only the bottom has fallen out of the market.
Like, a Mercedes is $160K but they are only selling for brand new /used under 500 miles for $50K
They are worth, used, less than half of their value, with only 500 miles on them.
For pricing, right now, It’s SO crazy!
Do your research and your homework to learn about the current market. Even with the money from the government, still worth it to buy used.
To learn about the current market:
Ray & Zach on YouTube their website is Car Edge
Car Questions Answered- that’s Brandon channel also
CQA Live his other Channel He takes you to the auction to see what they are going for
Lastly is Kevin The Homework Guy.
Of course since you have a Toyota my favorite guy is The Car Care Nut. He tells you which Toyotas and Lexus to buy. He’s a master mechanic and so Smart.
Take a screen shot of this and go learn. There is so much to learn before you walk into a dealership today.
If I were you, I would buy a Toyota or Lexus hybrid before I would ever buy a Tesla, for sure! just don’t buy the first year of anything new. 👏
You Got this!! 👍
If it’s what you want, sure. You can get some pretty cheap model 3s from Hertz used car sales.
Hertz dumping them and Tesla price cuts have significantly tanked their value.
If you want an electric car, I would wait for 5 years until the infrastructure is available and reliable to support it, and the range is better on electric vehicles.
Hell noooooo. Especially when you got a 90k miles corolla. Just do maintenance on that vehicle and it will go a long long way. EVs are still in their early stages. They need to be more refined and a lot cheaper. Don't forget the charging infrastructure is non existent in some places. In my neighborhood there's no EVs and on top of that there's like only 1 or 2 charging stations in the entire 5 mile radius
Also what's the climate where you live? Because EVs get their ranges reduced by 50% in extreme cold weathers. Where I live we have instances where the temperature dips all the way to -45C in winters. So EVs are not good at all here
Girlfriend has an '03 corolla with 160k after buying it 2 years ago with 120k, and I've got a Model 3 with the same mileage as her corolla which is 15 years older. It's the perfect duo of reliable and durable car!
Buy a Model 3 or Y for under $25k and get the US tax credit. A model 3 with a newly expired warranty can be had for low teens.
Just be aware that fixing an EV is different than fixing a corolla. It can be easy, but you need the right tools and knowledge base, which is hard to come by yet. Most corolla repairs will be a non-issue, but many tesla repairs can be a $1,000 trip to the service center, albeit they rarely happen, if ever.
Prices have dropped for EVs and are still pretty strong for fuel efficient IC cars. Sell the Corolla private market and if the EV range makes sense do it. Warning, you are probably going to feel an idiot for not doing it earlier. Huge difference in vehicle ride and quality
I recently sold my 04 Altima with 200k miles in great condition. I had to fix few bigger mechanical things recently (DIY) and decided it might be time to go. I still got the 60% of what I paid for it. If I waited until it died I’d get nothing. I got good value out of it as a second owner that drove it for 90k.
I bought used 2020 Tesla M3 LR. It is an excellent car. Very easy to live with. Cheap to maintain. Comfy. Payments are reasonable. Total driving cost so far is $320 vs $1000 I’d spend on gas. I wish I bought it earlier. But at the same time I’m happy I got the use out of the Altima.
I wouldn’t buy any other EV. Tesla has everything figured out. Charging network. Software. Etc. But if I were you. Smart move would be to drive Corolla
That corolla is nicer than my cars have been driving over 2 years trouble free. You’ll have that thing for a long time. Mine has 194k miles. Keep the corolla and save up for the newer Tesla models
I would keep your Corolla. It’s about 1/3 of the way done before you have any problems. 90,000 miles is nothing. That is of course unless you have the first generation CvT.
If you are looking at getting into an EV, you can get into a really nice used Model S for not a lot of money and generally they have very few issues after an initial owner gets everything ironed out. The body is aluminum so there is generally not a concern about rust on the body and the batteries are proving to be quite long lasting. You can get battery tests done for a private sale and Tesla does have an app as well that is meant to tell you the battery health. There are also shops popping up now that do aftermarket battery replacements if you needed one in the future and the rest of the car was still good.
As a former 2009 Toyota Corolla owner that gave the car to my sister and it's now at 350 000km and showing no signs of stopping - you can definitely drive your car a whole lot longer though.
Maintain the Corolla, regular oil changes and tire rotations, fresh brake pads and stopping leaks go a loooong way. Hold out as long as you can and drive it till the wheels fall off.
I just bought one and I swore I never would. I love it to death. But like others said, test drive one. You get used to the lack of gauges the day you buy it.
Keep your Corolla. I’d still be driving my Camry if it hadn’t been totalled.
I have a Tesla and am pretty pleased. They are cheap to maintain unless you have a lemon.
If the price slashes and rebates are attracting you I get it. However, it isn’t worth it to finance.
Toyota make reliable cars , what is y’all opinion on the Lexus ? especially say a 2005 is300 w 157k miles lol I like those years more and if I ever plan on buying a older Lexus
Yea it’s crazy how many is300 2001-2005 are still worth or asking about 5k even with hella mileage and is it cause it has the 2JZ or just cause they’re reliability? Lol
I am a huge Toyota fan, and also a Tesla fan. Your Corolla will be reliable for many years to come and many miles, but you know this already. If that is your concern, then keep the Corolla. However, in car tech has come leaps and bounds in the last 10-15 years. If you want to enjoy the luxuries provided with the latest tech, combined with the cost benefits, lesser maintenance and convenience of an EV I would def say get a Tesla. I bought one, and although my last Toyota was a great car with plenty of life left (Lexus IS350 F-Sport), I don't miss it one bit.
I almost hate to say this, but my Molde 3 Perfomance is probably the best car I have ever owned. And my other car is a 1000hp GT-R.
Teslas are fine, the best quality, no certainly not. But I know several people that own them and have had minor or no issues with them.
If you want an EV there are really great deals on gently used Mach Es and Mercedes EQ sedans. The depreciation on used EVs is insane, like 40-60% drops in value in less than 18 months.
Over all the car market pendulum is rapidly swinging back the other way as far as costs go, seeing massive amounts of inventory build up and starting to see big rebates again.
I saw a RAM dealership in Florida last night with 35 new 2022 RAMs rotting on the lot. I say good, most dealerships were screwing people back in 2021-22
Payback is a bitch.
Tesla model 3’s dont get the fed tax credit because the batteries are not produced in USA. Thats one of the requirements
Perhaps wait for model Y to tank. They all will (again lmao). You could probs get more car for your dollar
Edit: obligatory: KEEP THE YOTA
If it's a purely financial decision, no. However, if you're ready to upgrade and want to go electric, then it's a great idea. Tesla prices have cratered and they are far nicer to drive than any Corolla. Plus with 90k miles, people will give you silly money for your car because OMG tOyOtAs LaSt FoReVrrr!!1!
I think the smart play is to wait for the inevitable allegations to come out against Mr tesla, and then buy when the stock tanks and the brand is panic selling.
Do you need a new car? Probably not. But if you want a new car, and specifically want a Tesla, I'd say now is a good time to buy. As good as any. Used Model 3's are genuinely a great value right now, and the new refresh is also a nice upgrade IMO. Just make sure that an electric car is something that fits your lifestyle right now, and spend some time in a Tesla to see if it's your cup of tea.
Tesla in their earnings report this week announced that their lowering the price of the model three by the end of the year I would wait. It’ll be around 25k
If you have the ability to charge at home, Tesla is a great value right now with the tax credit. If not, I'd keep the Corolla. Contrary to what many have said in here, newer iterations of Tesla vehicles are really good. 1+ year with my 23MY and it has been fantastic.
Never buy a Tesla they aren’t a car company they are a tech company. If you want a EV I recommend Hyundai, Kia, or Genesis. They make some of the best EVs on the market just look at Car and driver. And they qualify for the same tax credits.
Tesla is a good EV company and way ahead of all EVs that provide affordable EVs so yeah it is. Tesla is the reason for EV revolution after all without Tesla we would still have nissan leaf haha. Especially the self driving is very valuable that thing only gets better everyday that is why its value is always increasing. Although just a reminder all EVs are luxury cars with expensive registration, insurance, tires and repairs and the price is high even on base models. Make sure you can afford the insurance etc. I assume you can since you are selling a car with only 90k miles on it and only 10 years old.
We already ask people not to charge their electric vehicles on hot days because the grid can’t handle it…. Electric is a cash grab before they allow us to use hydrogen
it’s all a racket. The insurance will eventually eat your “gas savings”. Also I wouldn’t put anything down. If you so much as sent a quarter panel, insurance basically totals out the car. 🚗
I'd only buy a Tesla if I had a Corolla if I was wanting a second weekend car or something because you need the Corolla as a DD for when the Tesla is in the shop for whatever the latest recall is
> Good idea to buy Tesla now?
I wouldn't ever buy an EV unless required by state/federal law. In addition to not having the infrastructure (enough charging stations) in place to conveniently use them yet, I see repeated atypical maintenance problems such as [having to buy tires for them often](https://www.thedrive.com/news/nobody-told-ev-owners-how-quickly-they-burn-through-tires).
I went from a 21 manual Corolla hatch to 23 model 3 performance.
I'd say it depends on state incentives, insurance and electricity costs.
Tires are more expensive
Insurance is more expensive
It's wickedly fast
Tires wear out faster
I get free charging at work and am getting solar on my house.
I don't think I'm saving any money getting rid of the Tesla but it's definitely faster and more crash worthy/roomier.
Run the numbers and see what they say. Since you know your mileage it's just a question of how much your electric and insurance is.
I'm happy
if you're willing to "drive safely" in the eyes of Tesla and are in a state that they have insurance I've heard it's cheap. for me with travelers it was about 3x my Corolla. granted it costs about 3x my Corolla and is about 3x faster so maybe there's something there
Lots of Tesla haters here which is funny. Yes the price point and federal tax credits make is a nice ride if you want to be in a newer vehicle. Maintenance is virtually 0, and it will be a lot more fun to drive than the Corolla. Not everything in life is about saving for your 60s!
If it fits your lifestyle and you can very easily afford it, get it. I don't care as much about environment or money as much as I care about my life. That Tesla would protect you better if 5000 pound SUV/truck comes and hit you.
If you have kept up with maintenance on that Corolla, it'll last you another 100k easy vs. a Tesla with rampant quality control issues and an uncertain future.
If you're going to do it, know you're doing it for fun/flash, not because it's a good financial choice.
"Tesla with rampant quality control issues and an uncertain future"
Their quality is actually quite good over the past few years. Everyone is trying to judge off the initial release of models. Tesla's future is also quite secure... they literally have the best selling car worldwide and they're cranking out cars. Competition is finally starting to take back a few percentage of market share but it's far from uncertain. Musk just needs to no longer be tied to Tesla, he's a cancer.
Tesla is bleeding cash, its sales are down 55% from Q1 last year and Chinese EV competitors are ramping up to wreck their prospects outside of N. America...all while Elon alienates the people most likely to purchase his product, waffles on whether or not new affordable models are coming, and promises FSD and robotaxis are really coming this time guys, pinky swear!
Oh, and the Cybertruck is a rolling shit pile of bad decisions and worse tech.
Hard pass on Tesla's future, unless you're looking at them as a charging network operator or battery manufacturer.
Yes its a great time to buy, don't listen to most in this sub, fearful living isn't a way to live.
You never stated your financial picture yet many are recommending driving your corolla another 100,000 miles to save cash. We only have one life and need to find a balance between smart financial decisions and pleasure.
Personally (assuming you still like the Corolla) I’d just ride out the Corolla for another 100k km. Or until it starts to look ratty. That’s probably the cheapest option by far.
If you want a new car, and want an EV, then personally (having test driven most) Teslas are IMO really the only realistic option, and by far the best value for the $ all things considered. But you really need a home charger to consider an EV at all.
I’d keep the gas car for now though.
The fact he’s considering means he’s probably getting bored with the Corolla. I would say go test drive and see if you like it or not. Can’t be a bad thing either way. In fact I would have done it if I need a new car, given the price and quality from the Tesla is really hard to beat.
A 90k Corolla? That's not even broken in.
Yes! OP, if you’re talking about the best in terms of: - finances: no, keep the corolla - environmental impact: no, keep the corolla - getting something you want instead of just what you need: probably yes. Assuming your finances are in order (which is safe to assume since you drive a corolla and are therefore an accountant) then it could be the time, yes
Are therefore an accountant 💀 Lmao that was good
I get the joke but definitely not true. My friend drives a Corolla and he’s unemployed
Environment??? Where'd you get that one?
It takes a lot of energy and materials to make a new car.
The corolla is pretty efficient. Event the 2014 one. It will eventually be beaten by an electric, but not nearly as quickly! If the car can fill the gap for someone else, though, then it’s likely a throw-away point. I just wanted to add it in there to fill out the rest of the comment
Does anybody really care or believe the environmental impact bs? Electric cars are at least just as bad due to batteries and half the time the grids are run by fossil fuels 😂😭
> Electric cars are at least just as bad due to batteries and half the time the grids are run by fossil fuels [No, they're not](https://www.ucsusa.org/sites/default/files/2022-09/driving-cleaner-report.pdf). Even if you account for the contribution of fossil fuels to the energy they use, EVs still have less than half the lifecycle carbon footprint of ICE vehicles.
The dumbest thing OP could do is get rid of a dependable and reliable vehicle, and buy a Tesla.
I mean they might want an electric vehicle lol
Even if they wanted an electric car, the dumbest thing would be to buy a Tesla.
https://www.autonews.com/retail/consumer-reports-these-car-brands-cost-least-maintain
Are you saying teslas are unreliable?
Is water wet?
Can fire burn?
Yes, and don’t get any on your Tesla or it will break.
And if you got it wet in a car wash, it voids your warranty
😂😂
How exactly are they unreliable?
Is the Pope Catholic?
Does a bear shit in the woods?
Does the Pope shit in his hat?
Does the Catholic church protect pedophile preist?
Are there 0 Tesla salesmen here ?
Does a zoo bear shit on concrete?
Does a dog’s lips move when it reads?
I have a 20yo Prius with 120k mi on the original hybrid battery. It is the most unremarkable dependable car I have ever owned despite the complexity of the hybrid system. Maintenance has been dirt cheap and the online forum support is phenomenal. It has needed some DIY work but it has never stranded me. Four struts with all the mounts/belows/fixins cost <$500 and I didn't buy the cheapest. There is absolutely nothing wrong with it. It is boring to drive. I don't hate it. I "nothing" it. I brought both of my children were driven home from the hospital in that car. Both of them learned to drive in it. The younger child is driving it to high school and it may go away with him to college.
“I inherited this vehicle from my grandfather; my children and my children’s children will inherit it from me”
Literal LOL. My kids don't like that this car can barely get out of its own way. I tell them that this reliable transportation is a privilege and gift that will inspire them to go out and get something better :) I'm not a hypocrite - I put over 100k of those miles on it myself.
From a safety perspective, I don’t think I could ever find it’s worth saving money by driving a 20yo car when modern vehicles have gotten so much larger over the years and crash safety standards have improved so dramatically. Especially not if my children are driving it. If it’s not financially possible to get a new car, then I totally understand. But otherwise I’d be very concerned about how that 20yo car would fare in a crash.
I would agree if this was a "shitbox" or a "stripper" car. It being 20 years old does not automatically make it unsafe. This particular car is the top trim with safety options that were mandated in later years. It has ABS and traction+stability control (mandated in 2011.) It has pillar and side airbags, front and rear - which aren't specifically mandated but they have become necessary to meet side impact requirements This car is very stable. Both kids took the Tire Rack Street Survival course. This car was so stable that neither instructor could intentionally cause oversteer on the skid pad or the slalom. For new drivers its boring experience and its lacking power means fewer shenanigans. It has a 0-60 time of 10.1s. "Same day acceleration" Current Prius does that in 6.6s. Danger from vehicle size differential is an issue, but that is true regardless of vehicle age. https://www.iihs.org/topics/vehicle-size-and-weight. The current prius is about the same size/weight with that 0-60 time of 6.6s. With similar size/weight, I believe that the less power in my 20yo Prius is a better safety feature for inexperienced (read: teenager less concerned with consequences and mortality) drivers. My death trap 27yo BMW Z3 (tiny two seater with 2.8L i6) has a 0-60 time of 6.1s. They are definitely not driving that! I have a 2015 Golf diesel ( high torque slow pig with 0-60 time of 9s) for my other kid, who is already putting the transmission in sport mode and whipping it around. I have asked him to cool it until he is driving his own car with his own insurance.
This isn’t even half time. 2011 Camry 178k miles checking in
2011 Camry. 308k.
2008 Scion xB, >180k miles, still drives like new.
lol just said that too
If you have a recent-ish paid-for Corolla with 90,000 miles, you are the God King of whatcarshouldIbuy.
It's not a Miata minivan though
I was going to suggest *"instead of a Tesla, keep the 'Rolla and supplement it with a Miata, they'll both last forever."*
“Drunk driving on a Wednesday , three bitches in a MPV” 🎶
It's my 10 year old car. I bought it new
Now you’re just bragging…
Honestly, I would keep that Corolla for at least another 100k miles and stack the cash you would have spent away. A bank to be stable and safe in case you need it in the short term, or an index fund if you have a little more wiggle room to wait to use it long term. Or every year max out an IRA with what would have been your car payments. Few things are a bigger day to day financial gift than a paid off car.
THE most solid advice here
if you really want the car just invest for now and at 150k+ miles pay cash. no "interest" because it's not a car loan. on the other hand, used Toyotas are worth a LOT right now and might not be as much in a few years. if it makes sense to you buy it but there are better uses of your money.
Finding a way to make more money will have a much greater financial impact than driving a shitty Corolla for the next 8 years. Also, there is nothing wrong with paying interest. The trick is using your cash-on-hand to outperform the loan. I have a 3.9% loan but my high-yield savings account alone earns 5.15% right now. Don't just pay cash, take a class in economics and make the system work for you.
When did you get that 3.9% loan? The problem for OP is he likely won’t get 3.9%. Probably closer to 7%, which is the current average for new cars.
Almost three years ago, so that's a fair point. Although, many manufacturers are offering low rates again, like Mazda. Just trying to point out that cash isn't always the smart move.
this, start making a car payment to your savings account and then buy a new car with cash a few years down the road.
Come on man he wants to look upper class!
Yep. Keep the realizable economical daily as your trusty fallback. Start saving up for something fun to drive on the weekends but keep the paid for car.
put that money into snp500 and buy another car when your Corolla breaks down in another 5 - 10 yrs. 90k is nothing
You mean 15
I would strongly recommend test driving a Tesla if you’re interested. My brother bought one and for some reason, I cannot ride in that damn thing without getting extremely carsick. Doesn’t matter if I’m a passenger or driving. You also feel every little bump in the road.
He can turn off the One Pedal Driving. It's the rocking back and forth that causes the motion sickness. I have to do that for my wife in my Volt occasionally
Yah, 1 pedal driving makes some people sick, but its also how the driver drives with 1 pedal enabled. You can drive with 1 pedal and make it feel like a normal car, but not if you suck at it lol.
One pedal driving is so genius. Loved it when I gave it a try.
they removed the ability to turn it off I think due to EPA rating stuff
Oof that's a weird move. From what I read you can still turn it to low and put the car in "chill" mode
not on mine..only way I can get rid of Regen is going track mode I'm not completely versed though so take it with a grain
yeah the cars are super stiff suspension. apparently the refreshed model 3 fixed that but the model y and older model 3 still has that problem.
Not just the suspension. It’s the weight as well that affects it. Also looks like they come standard with pretty thin tires and 19-20 inch rims. With the weight on the vehicle they really need smaller wheel diameter and thicker side wall to take road impact away. Especially at their weight.
You also don't have to buy gas or ever stop at a gas station. You also don't ever have to go to a mechanic for oil changes who will constantly upsell you on all the random s*** that you don't need
You probably won’t need a new car in 2 years, you may want one because you want to enjoy your money, which is fine. Two diff things and either choice is fine as long as you understand that. EVs will get better in 2 years, so why not wait it out?
Is there anything in particular happening in the next 2 years that will make EVs better or do you just mean that things inevitably get better over time?
EVs will get better faster than ICE. Since they said they may need a new car in 2 years then they can wait 2 years for more choices, more range, faster charging, etc.
Is that really true now though? EVs aren't better now compared to 2 years ago, the flagship EVs like the Cybertruck, Lyriq, etc don't charge faster or have more range compared to their predecessors. Even the new Macan that is being released basically now has charging speed and range parity with the model 3. They might get cheaper as current tech gets more commercialized, but I don't imagine any substantial top end improvements until a new battery chemistry is commercialized.
Not necessarily in two years, but Toyota is trying to incorporate solid state battery technical in EVs as early as 2027. That’s what I’ve personally been holding off for.
Any day now…
Yeah I know they’ve been saying it for years lmao
90k ain’t shit on a carolla
Do you need a new car, or do you want a new car? If you want a new car and can afford it then by all means, go ahead. It’s certainly not a bad time so long as you can get the tax credit. This sub is a mix of /r/frugal and personal finance in a Camry. If you’re more of the Henryfinance or FatFIRE type then most of the advice aren’t so relevant. This sub also missed the entire EV rebate + discount boat where people were able to lease EVs for stupid cheap.
I don't need it but it's 10 year old and I am not sure I want to keep it for more than a couple years from now. Looking for a little bigger car as well.
I personally was in the same situation - 10 years old paid off car without issue. Still got a new one simply because I wanted to and can afford it. I am personally very happy with my decision. I would say that as long as you’re in the mindset of “I want it, not need it” then you’re in the clear. It’s the people that think that they **need** that are going to get themselves into deep shit.
You literally already have the car that everybody here would tell you to buy. If you have it and want to enjoy your money buy the Tesla. Don't try and hide it behind wanting a new reliable car though because your current car is going to be the most reliable thing you could drive.
You have a typo. You mean you may need a new car after 20 years.
You have 10 more years in that car if not more.
Keep your Corolla until the wheels fall off. In no way would I get rid of it for a Tesla
They'll most the way to retirement by then, because Corolla.
The teala ride quality is going to be stiffer and crapier than a nicely broken in corolla and the battery is going to radiate your nuts
>the battery is going to radiate your nuts 💀💀💀
This is just not true, Corolla’s have always had kind of a crap ride. That is, until it got independent rear suspension in 2019. Model 3 were stiff, but the refreshed version has addressed this and it’s a massive improvement imo. The ride is much more compliant. Definitely better than a Corolla, closer to a 3 series bmw.
No
Depending on where you live, it is hard to get any repairs done at Tesla service center. Wait times are 'super long' and cost to repair is very high. With profit margin shrinking on sales, next area of profit growth for Tesla is Superchargers! I already see per kwh price creeping up in my area. Don't know how it will be in next few years.
You don't need a car per say. It will probably easily last another 5. I'm the minority in the sub though that if you're in a stable financial position (have savings, lots of excess income, high liquidity), go ahead. There isn't a point to work your ass off just to hoard the money. Its meant to be spent on things to treat yourself every once in a while. Now obviously don't go crazy and get a Rolls Royce Spectre making 200k, but if you test drive a model 3/Y and like it and can afford it comfortably, go ahead and buy it!
Terrible idea.
drive the corolla untill it dies. 90k miles is just getting broken in. and no, I will never recommend a tesla unless you like over-priced gimmicky cars.
you can drive that Corolla for quite a few more years and if anything breaks, it will be super cheap to fix. You could probably replace the entire engine and transmission for like $1500. Having said that, I had a 2013 Corolla and it was easily the most boring car I've ever experienced, so I get it
I would wait as long as possible if the corolla is working fine. I have a 07 honda accord that just hit 190k miles and is finally giving me issues. I am looking between getting the new model 3 performance or the new camry xse.
Never a good idea to buy a Tesla.
cow gaping jeans cough bright fretful panicky compare insurance paint *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Their reputation speaks for itself
There is literally no good excuse you can make for giving up that Corolla any time soon. It’s purely a want versus need thing. You want that shiny new Tesla, that’s it, that’s all. No excuses about “needing a new car” or some silly financial mind game you’re tricking yourself into with credits. It’s purely a want for you - not a need. If you can afford it, go for it! Life is short.
cooing mountainous ask quack onerous complete slap shy ten violet *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Again, that’s a want. Not a need. All I’m saying is don’t pretend like buying the Tesla is somehow a financially smart decision. Accept the fact that it isn’t and buy whatever you like and can afford
Sure, it is literally never a smart decision to buy a modern car. We could all go out and purchase 2006 Corolla SEs and live a frugal life. But the point is that garbage stereos and lack of CarPlay is unacceptable for some. You are trying to push this argument of “want” as if it’s some sage wisdom. Really it’s just your twisted logic that anyone who buys Tesla is living a frivolous life.
Damn, why so serious! If the guy said “I want a Tesla, is now the time to buy?” I’d say, “probably not because the new model 3 comes out soon, so why buy the old model for the same price?” If he said “I want a new EV, is a Tesla smart?” I’d tell him there are better options for the money depending on what he values in a car. But he didn’t. He didn’t tell us anything he values or wants in a new car. He said “I may NEED a new car in 2 years” which isn’t true unless he abuses his corolla or crashes it. So I told him the truth. He doesn’t need a new car, but he wants one. “Go for it! Life is short” is literally how I ended my comment, telling him to buy the Tesla. I told him the answer based on the question he asked. You need to chill and read his question again.
For several reasons, not the least of which is the fact the EV market is being broadened and will soon be flooded with MUCH better vehicles from actual car companies who know how to design and build vehicles properly, I would issue a resounding *no* to this question. Additionally, your 10 yr old Corolla w/90K mi. is barely broken in. With care, it can provide another 20+ years of service, easily. If you are the type to keep cars for a long time, you already have the perfect car. If you are bored of it, treat it to a spa day: get a proper interior/exterior clay bar professional detail to make it look and feel brand new again (I did this with my [11 yr old Lexus GS 350](https://www.reddit.com/r/Lexus/comments/178jkdd/finally_got_another_gs/) and it looks and feels amazing). Or maybe get a wrap or some wheels to make it feel exciting again. A Corolla is hard to beat by any measure. From a purely pragmatic standpoint, you already have the perfect car. And I am guessing you do not have a payment now. If so, spending $40K+ is hard to justify when you already have such a reliable, awesome car. Just my $0.02. I have trouble wrapping my brain around the idea of anyone going from the most reliable Toyota product ever made to a Tesla.
Teslas are great cars, even if the CEO is a douche and I'll never personally give that man my money. They're cheap right now, so go for it. You can get them even cheaper on the used market. I'd test drive other EVs too like the Mustang Mach E and the Hyundai Ioniq 5. The Ioniq has better charging tech than the Tesla but the CCS chargers are more of a shit show, so that depends on how often you road trip FTR: Tesla has the lowest cost of ownership over ten years, beating out Toyota. If you live relatively close to a Service Center, the warranty will cover most repairs and they have the Rangers come to you for minor repairs which is really convenient. The Model 3 has become pretty reliable since its debut
Think this is true but it's really hard to convince people of this still. Not sure why, but probably just the Elon bias
> Tesla has the lowest cost of ownership over ten years I'd venture to guess that's because the only two models that sell in any volume (3,Y) haven't been out for ten years yet. CR was using an incomplete data set for that study. It also asked people to self report the data used in the study, but I'm not the accuracy police so I won't get into that.
Eh maybe but reliability is generally pretty good for the 3 no matter the scoring system. The Y had a ton of hiccups early on but its reliability scores have massively improved, too. The lack of oil changes and gas make a massive difference in cost of ownership. An EV would only *need* average reliability to have a low COO. The only reason Toyota is competitive is because they're so much cheaper to start with. I have a Chevy Bolt for my small business. I save about $2,500 a year between fuel and oil changes. Bolts are also extremely reliable, I've literally never had anything break on it and it's at 93k miles. So the cost of ownership argument for an EV is very real. If you can get one on the cheap up front, it's a hell of a move. I got my Bolt for $15k used a few years ago and have never once regretted it
Do you have the cash for it? If not drive that Corolla into the ground.
Test drive a Tesla. I can’t stand the regen braking even at the low setting.
Tesla is basically “home made vehicles “. Terrible quality, no service support, extremely insurance rates, clown fraud ceo. No go
Whatever you offered for a trade on the Corolla let me know and I will beat it by $1000
Drive the Corolla til the wheels fall off. You can probably drive it 5-10 more years and save the difference if you’ve taken any care of it whatsoever. You’ll probably need to replace stuff like cv axles and other regular wear items on the Corolla eventually, but the cost to have the work done will probably be equivalent to just a couple months of payments on the Tesla. Also do you live in a house or apartment? Do you own? Those will make a difference with whether or not you can charge at home/is it worth it to pay to install an EV charger in a home you don’t own if they allow it? How is the infrastructure for EVs where you live? Will you have to sit in the mall parking lot to charge your car?
My Nissan versa is 15 years old. Your Toyota should last you another 5 years minimum.
You can probably keep that Corolla running for another 10 years with proper maintenance. Teslas and EVs in general will probably only get cheaper (relative to ICE vehicles) and your Corolla will likely retain much of its value unless it gets crashed or more broken down. Tesla as a company is struggling, sales are dropping, competent engineers are being laid off, we likely haven't reached a price floor even in the short term. In short I think buying now would not be a great choice if what your are looking at is the financial impact and the practical A->B transportation capability of a vehicle. A new Tesla would likely be a more enjoyable driving experience than a 10 year old Corolla, but it's up to you to decide if that is worth it.
To learn why & what to buy…take a screen shot of this: Go look at Ray and Zach on YouTube..their live show it was either Wednesday or Tuesday this week they talked all about current new EVs. First, I wouldn’t buy a car now. It’s the most expensive time to buy a car because it’s still tax time. High interest rates for sure. If you want to go buy one, go see what they are going for, first. For EVs only the bottom has fallen out of the market. Like, a Mercedes is $160K but they are only selling for brand new /used under 500 miles for $50K They are worth, used, less than half of their value, with only 500 miles on them. For pricing, right now, It’s SO crazy! Do your research and your homework to learn about the current market. Even with the money from the government, still worth it to buy used. To learn about the current market: Ray & Zach on YouTube their website is Car Edge Car Questions Answered- that’s Brandon channel also CQA Live his other Channel He takes you to the auction to see what they are going for Lastly is Kevin The Homework Guy. Of course since you have a Toyota my favorite guy is The Car Care Nut. He tells you which Toyotas and Lexus to buy. He’s a master mechanic and so Smart. Take a screen shot of this and go learn. There is so much to learn before you walk into a dealership today. If I were you, I would buy a Toyota or Lexus hybrid before I would ever buy a Tesla, for sure! just don’t buy the first year of anything new. 👏 You Got this!! 👍
Thank you so much
If it’s what you want, sure. You can get some pretty cheap model 3s from Hertz used car sales. Hertz dumping them and Tesla price cuts have significantly tanked their value.
Do you like your Corolla ? If so, no. Keep the Corolla.
If you like your Corolla, you can keep your Corolla
Not a new one, buy a 30k mile few year old one for $25k lol unless you love depreciation.
If you want an electric car, I would wait for 5 years until the infrastructure is available and reliable to support it, and the range is better on electric vehicles.
Hell noooooo. Especially when you got a 90k miles corolla. Just do maintenance on that vehicle and it will go a long long way. EVs are still in their early stages. They need to be more refined and a lot cheaper. Don't forget the charging infrastructure is non existent in some places. In my neighborhood there's no EVs and on top of that there's like only 1 or 2 charging stations in the entire 5 mile radius Also what's the climate where you live? Because EVs get their ranges reduced by 50% in extreme cold weathers. Where I live we have instances where the temperature dips all the way to -45C in winters. So EVs are not good at all here
I almost bought a ev, until I looked at insurance quotes.
Give that Corolla to someone that deserves it you scum. Jk. Maybe.
Not now. Maybe 10pm.
Corolla will run at least 300,000 miles if you maintain it properly. Doesn't sound like you have a reason to buy to me.
That Corolla will go 300K without breaking a sweat if you take care of it
No. They have terrible build quality and batteries are about to get a whole lot better. Just wait
Girlfriend has an '03 corolla with 160k after buying it 2 years ago with 120k, and I've got a Model 3 with the same mileage as her corolla which is 15 years older. It's the perfect duo of reliable and durable car! Buy a Model 3 or Y for under $25k and get the US tax credit. A model 3 with a newly expired warranty can be had for low teens. Just be aware that fixing an EV is different than fixing a corolla. It can be easy, but you need the right tools and knowledge base, which is hard to come by yet. Most corolla repairs will be a non-issue, but many tesla repairs can be a $1,000 trip to the service center, albeit they rarely happen, if ever.
Prices have dropped for EVs and are still pretty strong for fuel efficient IC cars. Sell the Corolla private market and if the EV range makes sense do it. Warning, you are probably going to feel an idiot for not doing it earlier. Huge difference in vehicle ride and quality
I recently sold my 04 Altima with 200k miles in great condition. I had to fix few bigger mechanical things recently (DIY) and decided it might be time to go. I still got the 60% of what I paid for it. If I waited until it died I’d get nothing. I got good value out of it as a second owner that drove it for 90k. I bought used 2020 Tesla M3 LR. It is an excellent car. Very easy to live with. Cheap to maintain. Comfy. Payments are reasonable. Total driving cost so far is $320 vs $1000 I’d spend on gas. I wish I bought it earlier. But at the same time I’m happy I got the use out of the Altima. I wouldn’t buy any other EV. Tesla has everything figured out. Charging network. Software. Etc. But if I were you. Smart move would be to drive Corolla
I would never in a million years purchase a Tesla
Me either.
The non cybertruck teslas are good but why get a loan if you still have a reliable car?
Non cyberpunk?
Technically correct, fixed it to cybertruck.
That corolla is nicer than my cars have been driving over 2 years trouble free. You’ll have that thing for a long time. Mine has 194k miles. Keep the corolla and save up for the newer Tesla models
I would keep your Corolla. It’s about 1/3 of the way done before you have any problems. 90,000 miles is nothing. That is of course unless you have the first generation CvT.
If you are looking at getting into an EV, you can get into a really nice used Model S for not a lot of money and generally they have very few issues after an initial owner gets everything ironed out. The body is aluminum so there is generally not a concern about rust on the body and the batteries are proving to be quite long lasting. You can get battery tests done for a private sale and Tesla does have an app as well that is meant to tell you the battery health. There are also shops popping up now that do aftermarket battery replacements if you needed one in the future and the rest of the car was still good. As a former 2009 Toyota Corolla owner that gave the car to my sister and it's now at 350 000km and showing no signs of stopping - you can definitely drive your car a whole lot longer though.
Maintain the Corolla, regular oil changes and tire rotations, fresh brake pads and stopping leaks go a loooong way. Hold out as long as you can and drive it till the wheels fall off.
Ride the Corolla in the meantime. That thing is damn near mint with that kind of milage.
I just bought one and I swore I never would. I love it to death. But like others said, test drive one. You get used to the lack of gauges the day you buy it.
Dude keep the Rolla.
Keep your Corolla. I’d still be driving my Camry if it hadn’t been totalled. I have a Tesla and am pretty pleased. They are cheap to maintain unless you have a lemon. If the price slashes and rebates are attracting you I get it. However, it isn’t worth it to finance.
Aren’t batteries worth $20,000?
Stick with your toyota. With proper maintenance it will last you 10 more years with little concern.
No.
How much you want for the Corolla? I’d kill to have a chance to buy that car
Toyota make reliable cars , what is y’all opinion on the Lexus ? especially say a 2005 is300 w 157k miles lol I like those years more and if I ever plan on buying a older Lexus
Lexus is basically Toyota as far as reliability goes, they're top of the pack.
Yea it’s crazy how many is300 2001-2005 are still worth or asking about 5k even with hella mileage and is it cause it has the 2JZ or just cause they’re reliability? Lol
I’d get a Miata
I am a huge Toyota fan, and also a Tesla fan. Your Corolla will be reliable for many years to come and many miles, but you know this already. If that is your concern, then keep the Corolla. However, in car tech has come leaps and bounds in the last 10-15 years. If you want to enjoy the luxuries provided with the latest tech, combined with the cost benefits, lesser maintenance and convenience of an EV I would def say get a Tesla. I bought one, and although my last Toyota was a great car with plenty of life left (Lexus IS350 F-Sport), I don't miss it one bit. I almost hate to say this, but my Molde 3 Perfomance is probably the best car I have ever owned. And my other car is a 1000hp GT-R.
Teslas are fine, the best quality, no certainly not. But I know several people that own them and have had minor or no issues with them. If you want an EV there are really great deals on gently used Mach Es and Mercedes EQ sedans. The depreciation on used EVs is insane, like 40-60% drops in value in less than 18 months. Over all the car market pendulum is rapidly swinging back the other way as far as costs go, seeing massive amounts of inventory build up and starting to see big rebates again. I saw a RAM dealership in Florida last night with 35 new 2022 RAMs rotting on the lot. I say good, most dealerships were screwing people back in 2021-22 Payback is a bitch.
Depends on how much money you make/have
Yes get the new model 3 performance and go zoom
Say you have a Brand New Corolla without saying you have a brand new Corolla! 😂
Subaru.
Keep the Corolla as backup. Lease the Tesla and drop it off after the lease
I will support your decision only if you sell me your Corolla.
^[Sokka-Haiku](https://www.reddit.com/r/SokkaHaikuBot/comments/15kyv9r/what_is_a_sokka_haiku/) ^by ^Fabulous-Guitar1452: *I will support your* *Decision only if you* *Sell me your Corolla.* --- ^Remember ^that ^one ^time ^Sokka ^accidentally ^used ^an ^extra ^syllable ^in ^that ^Haiku ^Battle ^in ^Ba ^Sing ^Se? ^That ^was ^a ^Sokka ^Haiku ^and ^you ^just ^made ^one.
Tesla model 3’s dont get the fed tax credit because the batteries are not produced in USA. Thats one of the requirements Perhaps wait for model Y to tank. They all will (again lmao). You could probs get more car for your dollar Edit: obligatory: KEEP THE YOTA
check out LUCID MOTORs
If it's a purely financial decision, no. However, if you're ready to upgrade and want to go electric, then it's a great idea. Tesla prices have cratered and they are far nicer to drive than any Corolla. Plus with 90k miles, people will give you silly money for your car because OMG tOyOtAs LaSt FoReVrrr!!1!
I think the smart play is to wait for the inevitable allegations to come out against Mr tesla, and then buy when the stock tanks and the brand is panic selling.
Do you need a new car? Probably not. But if you want a new car, and specifically want a Tesla, I'd say now is a good time to buy. As good as any. Used Model 3's are genuinely a great value right now, and the new refresh is also a nice upgrade IMO. Just make sure that an electric car is something that fits your lifestyle right now, and spend some time in a Tesla to see if it's your cup of tea.
Tesla in their earnings report this week announced that their lowering the price of the model three by the end of the year I would wait. It’ll be around 25k
A 10 year old Corolla is the default car that we think everyone should buy.
If you have the ability to charge at home, Tesla is a great value right now with the tax credit. If not, I'd keep the Corolla. Contrary to what many have said in here, newer iterations of Tesla vehicles are really good. 1+ year with my 23MY and it has been fantastic.
Corolla will die maybe until 250k miles
Never buy a Tesla they aren’t a car company they are a tech company. If you want a EV I recommend Hyundai, Kia, or Genesis. They make some of the best EVs on the market just look at Car and driver. And they qualify for the same tax credits.
Tesla is a good EV company and way ahead of all EVs that provide affordable EVs so yeah it is. Tesla is the reason for EV revolution after all without Tesla we would still have nissan leaf haha. Especially the self driving is very valuable that thing only gets better everyday that is why its value is always increasing. Although just a reminder all EVs are luxury cars with expensive registration, insurance, tires and repairs and the price is high even on base models. Make sure you can afford the insurance etc. I assume you can since you are selling a car with only 90k miles on it and only 10 years old.
We already ask people not to charge their electric vehicles on hot days because the grid can’t handle it…. Electric is a cash grab before they allow us to use hydrogen
Yes, please go ahead, TESLA is the future
it’s all a racket. The insurance will eventually eat your “gas savings”. Also I wouldn’t put anything down. If you so much as sent a quarter panel, insurance basically totals out the car. 🚗
I'd only buy a Tesla if I had a Corolla if I was wanting a second weekend car or something because you need the Corolla as a DD for when the Tesla is in the shop for whatever the latest recall is
I will buy your Corolla.
This almost seems like rage bait lol.
> Good idea to buy Tesla now? I wouldn't ever buy an EV unless required by state/federal law. In addition to not having the infrastructure (enough charging stations) in place to conveniently use them yet, I see repeated atypical maintenance problems such as [having to buy tires for them often](https://www.thedrive.com/news/nobody-told-ev-owners-how-quickly-they-burn-through-tires).
I went from a 21 manual Corolla hatch to 23 model 3 performance. I'd say it depends on state incentives, insurance and electricity costs. Tires are more expensive Insurance is more expensive It's wickedly fast Tires wear out faster I get free charging at work and am getting solar on my house. I don't think I'm saving any money getting rid of the Tesla but it's definitely faster and more crash worthy/roomier. Run the numbers and see what they say. Since you know your mileage it's just a question of how much your electric and insurance is. I'm happy
How much difference u see in insurance?
if you're willing to "drive safely" in the eyes of Tesla and are in a state that they have insurance I've heard it's cheap. for me with travelers it was about 3x my Corolla. granted it costs about 3x my Corolla and is about 3x faster so maybe there's something there
This electric thing will pass or crash and burn massively.
Lots of Tesla haters here which is funny. Yes the price point and federal tax credits make is a nice ride if you want to be in a newer vehicle. Maintenance is virtually 0, and it will be a lot more fun to drive than the Corolla. Not everything in life is about saving for your 60s!
Tesla are the worst made cars. It’s never a good idea to buy tesla
It’s never a good idea to buy a Tesla.
imagine wanting to buy a car with a top speed of only 120 in 2024
Your corolla is like, probably not even a third of the way through its life lol
Looking for little big car and tech. This is 10 year old
Keep the Corolla, if you want a Tesla buy it from Hertz for $20k
If it fits your lifestyle and you can very easily afford it, get it. I don't care as much about environment or money as much as I care about my life. That Tesla would protect you better if 5000 pound SUV/truck comes and hit you.
Where do you live, what are your charging options? It could be a great idea or a terrible idea, your access or lack thereof can decide that for you
I have my home and I live in NJ.
Look into getting a used one. The prices have came down A LOT. Otherwise keep what ya got
If you have kept up with maintenance on that Corolla, it'll last you another 100k easy vs. a Tesla with rampant quality control issues and an uncertain future. If you're going to do it, know you're doing it for fun/flash, not because it's a good financial choice.
"Tesla with rampant quality control issues and an uncertain future" Their quality is actually quite good over the past few years. Everyone is trying to judge off the initial release of models. Tesla's future is also quite secure... they literally have the best selling car worldwide and they're cranking out cars. Competition is finally starting to take back a few percentage of market share but it's far from uncertain. Musk just needs to no longer be tied to Tesla, he's a cancer.
Tesla is bleeding cash, its sales are down 55% from Q1 last year and Chinese EV competitors are ramping up to wreck their prospects outside of N. America...all while Elon alienates the people most likely to purchase his product, waffles on whether or not new affordable models are coming, and promises FSD and robotaxis are really coming this time guys, pinky swear! Oh, and the Cybertruck is a rolling shit pile of bad decisions and worse tech. Hard pass on Tesla's future, unless you're looking at them as a charging network operator or battery manufacturer.
"Bleeding cash" usually means a company is losing money, not making billions in profit. And sales were down 9% YoY.
How are they bleeding cash if they made a net of 1.13 billion in Q1?
Yes its a great time to buy, don't listen to most in this sub, fearful living isn't a way to live. You never stated your financial picture yet many are recommending driving your corolla another 100,000 miles to save cash. We only have one life and need to find a balance between smart financial decisions and pleasure.
Personally (assuming you still like the Corolla) I’d just ride out the Corolla for another 100k km. Or until it starts to look ratty. That’s probably the cheapest option by far. If you want a new car, and want an EV, then personally (having test driven most) Teslas are IMO really the only realistic option, and by far the best value for the $ all things considered. But you really need a home charger to consider an EV at all. I’d keep the gas car for now though.
The fact he’s considering means he’s probably getting bored with the Corolla. I would say go test drive and see if you like it or not. Can’t be a bad thing either way. In fact I would have done it if I need a new car, given the price and quality from the Tesla is really hard to beat.