Every 23 year-old software developer I work with at Kodiak seems to have a Tesla.
That’s not quite true – one says its his girlfriend’s car, and another has a life goal of never owning a car. But otherwise everybody has a Tesla.
Checking with them, the monthly lease or financing cost is in the ballpark of $500-$700, although some are paying more so as to pay off the loan early. This is a thing you can do if you make $100,000+ entry-level software engineering salary in Silicon Valley, and you have no financial responsibilities!
The other racket is that new grads have learned that the year to buy the Tesla is your very first year. The $7500 federal tax credit for new EV purchases is ineligible to individuals with an income over $150,000 annually. If you graduate in May and start your job in August, you have a brief window to purchase the vehicle and get the $7500 tax credit. Otherwise you might get a raise or promotion or bonus in your second year of employment and become ineligible!
They did share with me one secret I should have used when buying a new-to-me car a few months ago (I purchased a used Nissan LEAF). Apparently it might be possible to purchase the vehicle in your child’s name and then the kid gets the tax credit?
My seven year-old has not yet cracked $150,000 annual earnings.
David Silver 