Ford Fusion Energi 2015 vs Tesla S 2014

[Pretty_Diamonds]

So, I was in a car accident and my Lexus HS250 2010 was deemed a total loss. I put in $15,000 and my mother traded in her NissanXtra and a few grand. The car was purchased for $28,000. Our lovely insurance check, $19,500.

So of course, I'll need a loan to purchase either of those cars on top of my cash money. And of course the Tesla would be AMAZING..and I love turning negatives into positives (car upgrade--heey) but it's not really in my budget. Unless, I want to be stuck with a 30-year crazy loan or something like that.

But, I HATE downgrading... like ew, ford, (yeah I'm a snob)--but I want electric!

The car is registered in my name and my mother's. We DON'T get along. The insurance policy is under HER name but I'm the only registered driver (she doesn't have a license). The check is being administered to her name ONLY. She needs me to sign some forms for the check to be released to her and says that we should split it. I don't trust her. What if she cashes the check and runs away with it all!?!?

This should probably be two separate threads...

 

[thujone]

from a mechanics perspective, electric cars are still somewhat experimental and there could be major recalls down the line for brand new ones. while it might be covered under warranty, getting the problem fixed could be a nice trip through hell depending on how serious the issue is and how many others are in queue to have the same issue fixed.

from a financial perspective, taking out a loan for something you don't absolutely need is self-sabotage. if you don't give a fuck and still want to do it, get your credit report from one of the agencies. if your credit is stellar you might qualify for some 0% APR offer and in that case borrow your heart out and spend the insurance payout on bonds that will accrue interest in the meantime. if your credit is shit and you're looking at 10%+ APR then spend all the payout money on the car and borrow just as much as you need to close the gap

 

[bagochina]

Tesla, no questions asked. Pretty slick car.