Is buying a Tesla realistic on $100k income?

A $100k income in the Midwest can work for a Model 3, but the student loan and existing car payment are significant factors. Run a detailed budget that includes not just the car payment, but also insurance (Teslas can be pricier to insure), electricity costs (or Supercharger costs if you don't charge at home), and an allowance for maintenance and potential repairs. Don't forget registration fees, which vary by state and can be surprisingly high. Factor in taxes. A $100k salary doesn't translate to $100k in your bank account. The Model 3 purchase may qualify for some federal or state tax credits/rebates, but these are usually applied the following tax year, so you can't rely on them immediately. Also, consider long-term financial goals. Are you aggressively paying off student loans? Are you saving for a down payment on a house? The Tesla payment could hinder progress on these fronts.

A $100k income can support a Tesla, but it depends on your other debts and spending habits. Factor in not just the car payment, but also higher insurance costs, charging (or Supercharger) expenses, and potential maintenance. Run a detailed budget, including your existing expenses and savings goals, to see if a Tesla comfortably fits. Prioritize your retirement and housing savings; if the Tesla stretches you too thin, it's wiser to wait.

The Model 3, even the base model, will likely strain your budget with only $2,000 of monthly disposable income. Consider insurance costs in California, which tend to be higher for Teslas. Factor in charging costs, whether you charge at home or rely on Superchargers. Also, don't forget about registration fees and potential maintenance. Run the numbers very carefully.