Model X Owners Net Worth

Model X Owners Net Worth

Sorry to be so personal, but I'm just curious what a persons range of salary needs to be to actually own one of these. I test drove a X P100D last Labor Day. Blew me away! I was comparing to my 2012 Nissan Leaf. NO Comparison! We would definitely have to buy used to avoid the initial depreciation (and affordability). I'm about 95% a 75D would suit our mileage needs (only one to three road trips a year). We live in a rural area, but can charge in our garage. We have three kids, so we would like at least the six seat config. Closest SC is about 40 miles in Chattanooga, TN. Comparing our Buick Enclave to the X, we would save about $750/year after insurance going up and fuel (electricity) expenses going down. The Enclave would be sold and 100% put towards the Tesla. We have no payments except house and utilities. My salary runs in the mid-40s. I understand this is low, so a large down payment is probably best. Really my dream car, but paying 100% cash is YEARS away. Any serious advice would be helpful. Thanks so much, and we look forward to joining the Tesla family.

lilbean | March 21, 2018

Expert estimates range broadly. Greg McBride, a senior financial analyst at, advises that a car payment should equal no more than 15 percent of your pretax monthly pay. That means that if you make $50,000 a year, your monthly car payment could be as much as $625.

But for many of us, it should be lower. The 15 percent ceiling applies only "if you don't have any other debt other than a mortgage," McBride cautioned. Not many first-time buyers can say that, so be smart about how much money you're putting aside.

Ninefiveone | March 21, 2018

I would suggest you approach this strategically. It will take longer to acquire the car but will position you much better overall.

Wait to buy the car.

Let them depreciate a lot more. Maybe even wait long enough for a model refresh to happen which would push used prices down further.

In the meantime, start socking away money towards the purchase and invest it conservatively (or if you have a higher tolerance for risk invest it in something like Tesla).

When the amount socked away + trade-in value of the car being replaced equals the depreciated price of a good Model X, buy it then. Don't take a loan on it, buy it free and clear.

An added benefit of this is that if Model X's turn out to be long-term reliable and trouble-free, then there's no problem buying a used one. If it turns out Model X's turn out to be unreliable, then you'll be glad you didn't own one. At mid-40's income, you need to know what repair and maintenance costs will be out of warranty before you buy.

This might mean you wait 2-3 years to make the tesla happen, but you'll be a lot happier when you do.

joeydiaz | March 21, 2018

I suggest between 5% and 10% of your monthly pretax income.

Sc0rPs | March 21, 2018

Actually, that 15% is for a gasoline vehicle, taking into account fuel & maintenance costs. So since those costs are gone you can up it somewhat. Maybe hold out for the Tesla Y?

avesraggiana | March 21, 2018

I would wait. The price of this EV technology will only decrease, and the efficiency and technology that go into the battery packs will only improve.

The bar to entry is quite high as far as upfront costs are concerned. The longer you can wait, the better of you will be.

I tried an old-fashioned experiment before I purchased our family’s first Tesla. I banked six months worth of monthly payments. When I proved to myself that I could meet all my other expenses and live as I did before, even as I was socking all that money away, I went ahead and ordered the car. I saved another two months of monthly payments while waiting for it to be delivered.

Uncle George | March 21, 2018

The Salary someone makes, does not always mean that that can afford the luxury items. There are plenty of wealthy individuals who have had their cars or houses repossessed.

Schwab MoneyWIse Monthly budget planner definitely paved the way when i was planning my Model X purchase. Everything from my monthly income, to health insurance, car insurance, investments...etc. If your not someone who wants to use Excel, this site above will give you everything.

Like @Sc0rPs mentioned, this is an electric vehicle. When I was planning out my purchase I looked at the following

1. Battery
2. maintenance (public & hidden)

I knew from day 1 that the 75D was perfect. The additional range of the 100D and the ludicrous P100D were unnecessary. I then planed the options. Silver with the standard wheels, standard black interior and the Premium upgrade package. That brought the overall total of $86,500 before tax.

I then looked at the Maintenance Plans. As stated again by @Sc0rPs, EVs require few to little. I payed attention to the individual service costs of the Model X for the 4 years. These are only the visible costs, but there are other costs that are hidden.

The down payment comes down to multiple factors. Age, Marital Status, current mortgage or rent payment, kids or no kids...etc.

My situations is somewhat similar to yours, but not entirely. The only information that I will make public is that my salary is lower than the average Tesla owner, but I have managed to not only surprise my family but to everyone else as well. I have successfully managed to own, maintain and insure a vehicle priced considerably over my salary and still have "fun" money. The factors to consider is that I am not married, no kids, no mortgage.

poloX | March 21, 2018

Don't forget to include wear and tear. Tires for the X are very expensive and they wear out after 1-2 years about 24k miles.

girishfall2010 | March 21, 2018

financially I still question myself if it was worth spending that much on a non-equity commodity, but at the end of the day, when you can do things with MX that none in its class offer, I don't have to convince myself its money well spent :)

bodhipooh | March 22, 2018

Interesting discussion. I must be a little too prudent/cautious: our X monthly payment is the equivalent of 3% of our (combined) monthly salary and I was hesitant about committing to that. I think Uncle George has it right: there are so many factors to take into consideration that a simplification like 15% of monthly salary is too broad.

Wilber | March 22, 2018

Aerisyn - I am an old retired guy with limited finances, so roughly equivalent to your financial situation. and yes, my car payments are way more than the traditional 15% limit, BUT my expenses on other items americans typically spend money is minimal. Kind of living the Zen life. which might not be too different from your country life. I too drove a Leaf before switching to Tesla.
Last i checked Tesla had nearly no used Xs for sale, and the ones they had were real expensive. Have you considered a CPO Model S? Lots cheaper than a new X, and minimal depreciation after you buy it. And has plenty of room for kids and stuff.

poloX | March 22, 2018

If I were making 80K and have 3 kids, I would be scare to death even considering buy half the X. But that is me.

Uncle George | March 23, 2018

If at any point you or anyone has second thoughts when buying a car, a house, kids, girl, guy, marriage...etc. take that split second to really think. Is this a good idea, can I handle it. If you know you can handle it, go for it no matter what. Everyone’s situation is different. Any hesitation with the Model X, would suggest not pulling the trigger. I would however make the suggestion if the Model 3. While it’s not a luxury or big as the Model S or X, it can be purchased at a price between $45-$50 W/out Autopilot. Plus you get 300+ miles of range if you chose the long range battery pack.

While roughly 80% of the cost of a Tesla (regardless of the Model) is the upfront cost, there are the factors of Insurence, out of warentee maintenance, excise tax…etc. I am in no way discouraging or scaring people from not buying a car they want. As hard as it is sometimes a good reality check is what we need from time to time.

Vawlkus | March 23, 2018

I’m an apartment dweller by choice. I make a little more than 80k per year. Only reason I got my X was because I took a gamble and bought Tesla stock at $30 per share. Because Tesla did well, I can afford it.

jerryk | March 23, 2018

I don't want to go into financial specifics, but I will get a "I am spending my kid's inheritance" sticker for our new model X.

Seriously, I am at the point where I getting rid of the toys (motorcycles, etc) and focusing on the things I use every day.

MelaniaFromBrentwood | March 23, 2018

I’m worth several million. But that’s because (for the time being) I’m married to Trump.

MXFan | March 24, 2018

From Slovenia to Brentwood, you’ve come a long way, Melania! LOL

jbrowdy | March 24, 2018


Your question is a good one, and coming to a decision will be a matter of balancing financial and philosophical reasoning.

From a financial perspective, I think of large purchases in terms of whether or not I can afford to either buy up front or carry the debt. I base this on available cash and future cash flow projections. If the answer is yes, then the issue becomes a matter of personal choices. Part of answering the financial question is to remember that we are not only earning a living for today, but we all have to live off of what we've saved in our retirement years. Once I get past the first decision, then I ask myself what would happen if there were a significant change in my income level (become disabled, change in economy beyond my control, etc). Would I be able to continue to pay? How hard would it be to liquidate the asset and recover some funds for living, etc.? Generally, with a car, I would always assume you would be upside down in those situations.

All that said, I personally struggle with a balance between making sound financial decisions and enjoying the here and now - with the attitude that we have one chance to enjoy this particular lifetime. If I am not hurting others in the process of buying something, and I am still able to be a productive, contributing citizen, then I tend to convince myself to enjoy life!

I happen to have a MX scheduled for delivery next week. I drove a MS for close to five years. Absolutely loved it. Maybe I started to wonder what a conventional car would be like - I'm not sure. But, for some reason, I was moved to get out of Tesla and try a conventional car. After about 6 weeks, I realized I had to go back to Tesla. I missed a lot of things, including the incredible handling and speed. It's also fun to have a car to "evolves" over time through software updates, etc. Although I did not mind paying for gas, I felt irresponsible watching the fuel meter drop while I drove. It just didn't feel right. So, I am back in and will probably never go back! I genuinely believe that not only am I not "hurting" anyone by indulging in an awesome car, but I am actually helping. One vehicle at a time, we are reducing emissions and supporting the survival of a company that has the potential to make a massive impact on the environment. I truly believe this. So, in my case, I decided to splurge and I believe that everyone wins!

I think you will be extremely happy in a Tesla of any kind - whether you figure out a way to finance an X or you get into an S or 3.

Good luck!

poloX | March 24, 2018

What is just happening here? As a big Tesla fan, I would love to see more Teslas on the road. As the nature lover, I would love to see more green Teslas on the road too. The OP was asking for advices based on his financial situation. Regardless, his purchase is not "hurting" anyone else on earth but himself, and his own family, if any. If not, wonderful, they all we enjoy their new X and we all will be happy for them.

aerisyn | March 24, 2018

I appreciate all of the feedback. If I could pay cash, that would be preferable. As I save up however, our mortgage balance will become lower and I would be torn between paying the house off early (smarter financial decision, I believe) or purchasing the X. My wife would prefer to drive electric, as would I, after experiencing the Leaf. I am so happy for everyone that has been able to experience Tesla firsthand. We are currently on Spring Break vacation from North Alabama to Orlando. Several traffic jams and slowing and going traffic have made me look forward to EAP. Maybe I can find a great deal on a used X a little while down the road.

Uncle George | March 24, 2018

The mortgage is the smarter choice. (In my opinion) Tesla’s and electric cars will always be here. So will houses, but I’d rather be comfortable knowing I have a place to go home to and sleep then go down a hole. CPO Tesla’s I would recommend. The bad think is that Tesla don’t depreciate. After two years, a P90D Model X is still over 80K. WOW. the only benefit is that a used Tesla would deliver within 14 days while custom is 1-2 months

jbrowdy | March 24, 2018

Polo, perhaps I was too vague in my comments. When I referred to “hurting” I was referring precisely to the family. Who else could be hurt by this?

At the end of the day, it’s a straightforward math equation, but the philosophical aspect comes into play when it’s a borderline situation.

A house is always a smarter bet than a car. That doesn’t mean you can’t afford both.

rednairb | March 24, 2018

I kind of went through the same thing. In my case, I probably could have afforded a loan on the car, but I certainly did it want to have two huge payments. So now my total monthly bills are actually less after the 100D purchase, than they were before I got the car. How? I had been paying the s#@t out of my house, and then I did a cash out refindance. My total mortgage is less than it was before, though it by much, and at a 1% lower interest rate, so my one payment is less now then it was a month ago. So, if you want one really bad, build up the equity in your house, and use it as bank. DO NOT, put yourself in a financial strain that you will regret. Yes it may mean you have to wait longer to get your car, but you’ll be able to enjoy it a lot more when you are not stressing out about how you will make the payments!

aerisyn | March 24, 2018


We actually just refinanced about three months ago, took out 17k in equity and the only payment we have now is our mortgage (so much relief)! We were able to get a little lower interest rate as well. My mortgage payment is around 30% of post tax income. I could totally see building the equity up and doing a refi to outright purchase the car, but....decisions, decisions. Also, maybe now that the MCU have started to be updated in the newer vehicles, a drop in price will happen sooner rather than later.

(A little tangent) Could someone please explain if the middle seats in a six seat or seven seat (or both) are adjustable? By adjustable, I mean sliding forward and backward position can be moved and set while driving. I would like to know if I had some shorter people in the second row that the seats could be slid forward to help the third row out. Thanks again.

Model_D | March 25, 2018

aerisyn, the middle row seats can do what you described.

Silver2K | March 25, 2018

Wether I'm millionaire or not, my car is actually free, it pays for itself.

gtg749m | March 26, 2018

Our X monthly payment is about 9% of our pretax. We went through something similar. We traded in our minivan for the X. The 3rd row leg room in my opinion is non-existent. I would not want to be on a road trip sitting in the back and I'm 5'7" 130 lbs.

I'm starting to think now that we should have just waited for the Model 3 and kept the minivan.

CMcCright | March 26, 2018


Your asking the right questions, I am do planning as part of my professional life. My suggestion is keep it under 10% of your pre tax Income.

More importantly I would recommend you tick a few other box’s such as ensuring your setting aside 12% of your gross income for retirement, have an emergency fund of 3-6 months depending on 2 or 1 income households and finally do not pay cash. I took as much debt as possible at 1.49% for 72 months. Assuming I save and invest responsibility over a long period of time your absolute return should be better.

If your rate is above 3, you shouldn’t be too excited about the financing on the car. But I would recommend against using leverage on your house to purchase.

Just my 2 cents, as a fellow tesla owner, not a professional capacity (my disclaimer).

djlew8 | March 27, 2018

Old retired guy - raised two kids. If you were my son, with three kids and 45k income, I would definitely advise against buying such an expensive vehicle. Instead, start saving money now for the future...even a small amount. Educating your kids, unforseen future expenses, paying off your mortgage and building up something for retirement are all higher priorities than a high-end car that will be outdated in a few years. Outdated not because it's not a great leading-edge car, but because EV and battery technology is evolving so fast and so many new options will be coming out in a couple years. Be patient and wait just one or two years to see what options are on the horizon then.
Disclosure - just ordered an X100, but I'm now an old retired guy with a paid house, two kids out of college, a pension and a lot of money in a 401k - all that cuz I did save from early on.
Whatever your decision, wish you the best .

jerryk | March 28, 2018

I agree with djlew8. The one thing a young person has is time to build a retirement nest egg. Put some money aside every month and watch it grow. My father told be that when I was in my 20s, and I took his advice. Now I am quite shocked/surprised when I look at my net worth. Even after paying for a home in the SF Bay Area it is an more than I could have imagined.

drwike | March 28, 2018

Cost of the car also depends on use. I drive ALOT for work and mileage deduction makes the X much cheaper to own/operate than a premium ICE SUV driven the same miles. I recall an article about a taxi service comparing the Model S to a Mercedes S class. Also, check out swapalease. You can find Teslas there with few months remaining one the lease. Would give you a trial run at the monthly payment.

888dov | March 29, 2018

net worth aside. spending the kids inheritance aside. Went through a lot of financial crap over the past four decades and survived. Picked up my X a week ago and at 69 am the happiest guy on the road. Time to make life fun!!

harold_saun | April 2, 2018

I am sorry but you have no business buying a tesla unless you have a LOT of money put away. I have a $44k car now with $622 payments. That is close to $7,500 per year with nothing else. That is more than 16% of your income. My questions to you are... Are absolutely sure your job is secure? Do you have money put away to cover unexpected expenses? Do your children or may they need braces? Your take home is probably less than $3,000 per month. Take out your house, utilities, food, clothing, medical care and money for things to do with your family, you are way less than $2k, probably less than $1,500. I speak as a former accountant, financial advisor and pension trustee with over 40 years of experience. Spend the money on a cheaper car and spend your money on things to do with your family. In 8 years the car will be gone, but if you spend it enjoying your family, that will last a life time

k96732 | April 3, 2018

I believe that Tesla has many buyers who normally wouldn't spend this amount of money for a luxury car. I am sure, many would consider my wife well off, but we never spend money on cars, until we ordered our Model X. We own a 18 year old Subaru and a 7 year old Chevy Volt, with the Chevy Volt being a rather extravagant purchase. But Tesla doesn't just make a luxury car, they make an automobile like never before created. It brings out the passionate nerd in me and I assume others, who feel they buying a very cool futuristic vehicle that satisfies both the ridiculously exciting and the downright practical. So I can see many people over reaching for this vehicle. As much as I would recommend the prudent choice, I can appreciate why many choose to ignore it.

evlnte | April 7, 2018

Don’t spend money on a car vs your family or their well-being. Consider what everyone else has said about priorities in life and your particular job security.
Lease vs buy, buy used if you prefer to buy and factor in higher insurance costs.
Spend more for a bigger battery vs things like upgraded radios, climate junk or bigger tires. Bigger battery is a greater return on investment.
Shop for best financing online.
And consider that once you drive a Tesla you will ruined for ICE cars for life! They will seem like horse wagons.

johnse | April 7, 2018

Most of the above is advice given in a good tone, as opinions. But those making pronouncements about what this family should do with their money are concern-trolling. We know very little of their financial situation. We know very little about the personal importance they attach to this choice. We don’t know if the freedom of travel they purchase with this vehicle will grant them priceless experiences.

Yes. Lots of good financial advice. But imperatives like, “Don’t spend...” and “You have no business...” are decisions only they can make.

Saxman | April 7, 2018

My wife and I often comment that how people spend their money is a very PERSONAL VALUE JUDGEMENT.

ALL I will offer for consideration is that when you go into retirement, as I did when I was 59... it is a huge benefit to be debt free.

Don Schmidt | April 7, 2018


Getting a X is a purchase you and your wife MUST be in agreement by both of you. (Mostly by her) Getting a X is going to be 7+ years of payments. As you said, you have kids; you also have your retirement income to plan for.
A X costs $1,000 per month just to park it in your garage. (That's the income you loose from the cost of the X if you had invested it.

In 2010, I had the money for a Model S and ordered one. Rethinking the getting an EV, canceled the S and got a new 2011 Avalon and a $60,000 CD.

Best of luck and happiness,

Vancouver, WA

BumblebeEV | April 8, 2018


depends on where you are in your life, not necessarily on your income. My company has been making 630 grands a year for 2 years, was making 50-60k/y last 5 years, just bought a 500k house and my wife just gave birth to our 4th kid. They are 4 1/2 y.o. 3 y.o. and 18 months old and 1 week old.

I don't see myself spending over 175k over cars (CAD122k$ model X + CAD52k$ Model 3) as long as my financial situation is not well established. Retirements savings, stock options, good down payment on my home, some real estate investments, etc...
I could easily buy a Model X but is it responsible spening $175k with my wife at home for 1 year, no income for 3 months if I get sick or break my collarbone while cycling or tear my ACL while skiing.

The day I'm gonna have my retirement plan invested, 2 full years of living cost saved in advance (kids school expanse, travels, mortage, groceries, bills, etc...) if life decided to make me become invalid for my line of work, then I'm gonna be happy to buy a fully loaded Model X P100DL and a Roadster 2.0 and do financial things that are not yet responsible for our family right now.

raffidesigns | July 4, 2018

I'm not a huge fan of letting my personal life out in the public, but I just purchased a Model X 75D at $95K. My income is $40,000 with a $1018/month payment. Also I'm 25. While 100% of the people will call me crazy, you'll be in debt in less then 6 months. If I thought like a 25 year old. Then yes. But I think and behave like a 40 year old. I budget my money like crazy and planned this purchase for the last 3 years to the T. I have no other debt. No kids. No house. No nothing.

jimglas | July 4, 2018

I am fortunate that I can afford it with what is in my checking account, but writing a check for $115k for a car still makes me a bit queasy. The most expensive car I bought in the past was a BMW which my kids called my middle age crisis car (I now drive a honda). Surprisingly the kids all think the tesla is a great I idea.

bonhari93 | July 4, 2018

Also retired. We paid cash for ours because we had a windfall and had already put away money to do the grown up stuff done above. My advice? Pay off the house and take a second to finance your Tesla. That way, you can still take a deduction for interest on a home loan for your taxes. If you get state and Federal rebates, bank them to pay for tires and maintenance. If it were me, I’d be heartbroken to get a dent in it and not be able to afford to fix it. If you use your Tesla for business you might be able to write off the cost of the car in the first year based on the percentage of miles you use it for business. ( Be sure to confirm with your tax guy.)

bonhari93 | July 4, 2018

Also, spending money on the bigger battery might make it more attractive for resale but do you see ANY used ones for sale? If you have a charger in your home and easy access to SuperChargers a 75d will work fine. I have a 75d with the big tires and most of the time I drive it like I stole it. (The acceleration is addictive.) We have taken a couple road trips and found the same folks with 100d’s at charging stations. They still had to stop and charge but didn’t charge as long. That is fine with us because we are never in a hurry, (retired) and often stop to eat and/or shop while charging. As for insurance, the difference between a new Tesla and a 2003 BMW X5 is more than offset by fuel savings. ( If you buy an X or a S and get a referral code from a current owner, ( like me for instance,) you pay nothing to charge it at any Supercharger.

davidahn | July 4, 2018

A different perspective. I make good money, and bought a MS 85D 3 years ago with pmts about 3% of income. Now that we have an infant, ordered an MX 100D and looking to sell the MS. It was sobering to see how much the MS had depreciated. It was $99K new, $55-60K 3 years old.

So my advice to you: if a MX is financially a stretch for you, buy a PRE-depreciated, used MX. It may not have the latest EAP 2.5 hardware, but it might just cost you a WHOLE lot less, and would probably depreciate less as a % of your purchase price.

MelaniaFromBrentwood | July 5, 2018

My husband claims to be worth $10 billion. More since he became President. But we’ll never release our tax returns to prove it! Haha!

jimglas | July 5, 2018

The prices on a late model used MX don't seem to be any different than a new one

sp_tesla | July 5, 2018

"MelaniaFromBrentwood | July 5, 2018
My husband claims to be worth $10 billion. More since he became President. But we’ll never release our tax returns to prove it! Haha!"

Very funny!!!!!

jaketherake | July 6, 2018

Thanks for making me laugh bohhari93 !! "most of the time I drive it like I stole it". Made my day !

davidahn | July 9, 2018

@jimglas, you’re right, I did look for some too before ordering mine. The used MS seems to have a lot more depreciation. Waiting until significant inventory of used MX’s would be prudent.

Or get a 75D and drive slower for decent range. :)

goodspeeffffd9633 | January 23, 2020

friends, how do you calculate your net worth?
what're the factors you pay attention to?

Uncle George | January 23, 2020

@goodspeeffffd9633 The dollar value of all attainable assets. Essentially the total value of all bank accounts.

Any valuation tied into real estate,autos, 401K, Roth IRA, retirement, long term investment..etc is not net worth. An individual can have millions, but that money can not be touched. Unless you pay a pretty tax against it.