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Chevy Camaro vs. Tesla Model 3, Buying With the Heart or Head?

Camaro or Tesla? My friend Allan dropped in to see me today; we haven’t seen each other for about four years. Our bond is that he was my principal when I retired from teaching. We made a great team and we still get on well. I thought he was coming to see me because he has read my writings and we were going to go for a “burn” in the Tesla. As it turns out, we didn’t. But we did have a great chat about cars – in particular, a Camaro.

Allan is now a financial planner and has the money to buy himself the car of his dreams — a blue Camaro. He has test driven a Tesla Model 3 Performance and is torn between the two cars. However, his passion is ignited by the thundering roar of the 6.2 L V8. The Tesla is faster, but a bit too quiet — perhaps even staid — according to Allan.

Camaro vs. Tesla Drag Race

As a professional in the finance industry, Allan is well aware of the maths around the Tesla. That they’re cheap to run and maintain — but he is of the age where he would like to reward himself for many years of hard work and toil to achieve his goals. His kids are off his hands and he can buy a vehicle for himself. So long as he can put his cricket gear in the back, and his bike on a rack, he is okay, and you can do both those things with the Camaro.

We talked about how to finance the purchase of a car — tax, balloon payments, etc. Whilst this is probably a separate conversation, there are potential pre-tax savings for both employees and business owners/self-employed people depending on the structure of the finance chosen for a new car.

In the end, he might just end up with two cars. I suspect that he will — the Camaro to satisfy the decades-long passion of his heart, and the Tesla Model 3 to set his financial mind at ease. It is also a little more in keeping with his professionalism.

Oh, he has a deposit on a Cybertruck too, but given that they are at least a few years away from potential delivery in Australia, it won’t meet the current timeframe with relation to turning over his existing vehicle. 

When we spoke, the final Camaro vs. Tesla decision had not been made. Will it be the passion and heartfelt connection to the distinctive Camaro or the practicality of the Tesla Model 3 Performance?

 
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Written By

David Waterworth is a retired teacher who divides his time between looking after his grandchildren and trying to make sure they have a planet to live on. He owns 50 shares of Tesla [NASDAQ:TSLA].

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