I put down a $100 deposit to buy a Tesla Cybertruck in 2021. Here’s why, my thoughts on Tesla, and some of the potential tax advantages associated with buying the Cyber truck - enjoy! Add me on Instagram: GPStephan
The Program I talk about: The YouTube Creator Academy:
Learn EXACTLY how to grow an audience, rank videos on the front page of searches, build your brand, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF
Get 2 Free Stocks on WeBull when you deposit $100 (Valued up to $1000): https://act.webull.com/k/Vowbik9Tm5he/main
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
My second channel:
http://www.youtube.com/c/thegrahamstephanshow
First, lets talk about the aesthetics - In terms of practicality, it makes sense: the car is designed for durability. The stainless steel exterior is designed to resist dents, impact, and protect its passengers.
As Elon Musk clarified on twitter, this type of stainless steel is so strong that it can’t easily be molded and stamped without literally breaking the machine, so building a car from flat shapes meant less work required - and less overhead cost to manufacture. There’s very little on the car to to mold, bend, and shape…instead, just stamp and cut pieces together, and then fold it into a truck.
In terms of the impressive reservation numbers, however - I do have my doubts, as much as I’m a fan of Tesla.
Here’s the thing: I placed my deposit on the Cybertruck because I felt a $100, fully refundable deposit was such a low barrier to entry to reserve a spot - and from there, I could decide 2 years from now whether or not this type of vehicle would be a viable purchase or not. If yes, great - I’ll get the car. If not, well..it was only $100, and I can get it back.
Although, I hate to be that guy…especially because I LOVE Tesla, and I also bought Tesla Stock at the same time I bought my Model 3…but I can’t help but think charging a $100 refundable deposit isn’t going to be the best measure as to how many of people will actually end up BUYING the car when it comes out.
I don’t say this to take away from the car…because I think it’s brilliant, and I’m a believer of Elon Musk. But, we can’t ignore that - on previous Tesla models…the deposit was much higher.
The Tesla Roadster has a $50,000 refundable deposit
The Model Y has a refundable deposit of $2500.
The Tesla Model 3 had a refundable deposit of $1000.
And when the Tesla Model X was first announced…the deposit ranged from $5000, all the way to $40,000 for a founders series.
And…then…with the Cybertruck…only $100.
With the Tesla Model 3, they received a whopping 232,000 deposits in the first day - each with a $1000 deposit.
For context…that’s equivalent to Tesla receiving $232,000,000….upfront…for a car that wasn’t even in production yet. So, that was pretty amazing, because $1000 is a pretty strong commitment to buy the car.
https://www.engadget.com/2016/04/01/teslas-model-3-has-already-racked-up-232-000-pre-orders/
From that, however…it’s rumored that 25% of those people ended up refunding their pre-order:
https://www.engadget.com/2018/06/04/tesla-refunded-a-quarter-of-us-model-3-preorders/
So given that, one MIGHT assume that the refund rate for a $100 deposit might be SIGNIFICANTLY higher due to the low barrier to entry.
As far as tax advantages though, this could be good:
This is because It’s estimated that the car is going to be weighing in at over 6000 pounds, much like the Tesla Model X. And that means that it’s eligible for what’s called the Tax Code Section 179 deduction, with…wait for it…BONUS DEPRECIATION.
This is a deduction that applies to business owners who buy a car weighing more than 6000 pounds, and intend to use the car for MORE than 50% business use. This type of tax deduction means that heavy vehicles like this, classify as heavy machinery - and from that, section 179 says you can depreciate the car up to $25,000 in the first year.
Then, you have what’s known as “BONUS DEPRECIATION.” That allows you to potentially depreciate 100% of the vehicle you purchased in that SINGLE TAX YEAR.
https://www.reddit.com/r/teslamotors/comments/bl28kn/section_179_tesla_model_x/?st=k3e81hx4&sh=8bb3cc31
And for me, that’s why I figured…why not…$100 deposit, I may as well just see what happens…and then, 2 years from now as more options and interior design become more clear, I can decide whether or not I’ll actually get one. Plus, I think a lot of other people are in the same boat, as well. They see it as an innovative, new design…it’s absolutely unique…it’s priced in line with more conventional automobiles…and $100 deposit is such a low barrier for most people just to place and then see what happens.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
The Program I talk about: The YouTube Creator Academy:
Learn EXACTLY how to grow an audience, rank videos on the front page of searches, build your brand, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF
Get 2 Free Stocks on WeBull when you deposit $100 (Valued up to $1000): https://act.webull.com/k/Vowbik9Tm5he/main
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
My second channel:
http://www.youtube.com/c/thegrahamstephanshow
First, lets talk about the aesthetics - In terms of practicality, it makes sense: the car is designed for durability. The stainless steel exterior is designed to resist dents, impact, and protect its passengers.
As Elon Musk clarified on twitter, this type of stainless steel is so strong that it can’t easily be molded and stamped without literally breaking the machine, so building a car from flat shapes meant less work required - and less overhead cost to manufacture. There’s very little on the car to to mold, bend, and shape…instead, just stamp and cut pieces together, and then fold it into a truck.
In terms of the impressive reservation numbers, however - I do have my doubts, as much as I’m a fan of Tesla.
Here’s the thing: I placed my deposit on the Cybertruck because I felt a $100, fully refundable deposit was such a low barrier to entry to reserve a spot - and from there, I could decide 2 years from now whether or not this type of vehicle would be a viable purchase or not. If yes, great - I’ll get the car. If not, well..it was only $100, and I can get it back.
Although, I hate to be that guy…especially because I LOVE Tesla, and I also bought Tesla Stock at the same time I bought my Model 3…but I can’t help but think charging a $100 refundable deposit isn’t going to be the best measure as to how many of people will actually end up BUYING the car when it comes out.
I don’t say this to take away from the car…because I think it’s brilliant, and I’m a believer of Elon Musk. But, we can’t ignore that - on previous Tesla models…the deposit was much higher.
The Tesla Roadster has a $50,000 refundable deposit
The Model Y has a refundable deposit of $2500.
The Tesla Model 3 had a refundable deposit of $1000.
And when the Tesla Model X was first announced…the deposit ranged from $5000, all the way to $40,000 for a founders series.
And…then…with the Cybertruck…only $100.
With the Tesla Model 3, they received a whopping 232,000 deposits in the first day - each with a $1000 deposit.
For context…that’s equivalent to Tesla receiving $232,000,000….upfront…for a car that wasn’t even in production yet. So, that was pretty amazing, because $1000 is a pretty strong commitment to buy the car.
https://www.engadget.com/2016/04/01/teslas-model-3-has-already-racked-up-232-000-pre-orders/
From that, however…it’s rumored that 25% of those people ended up refunding their pre-order:
https://www.engadget.com/2018/06/04/tesla-refunded-a-quarter-of-us-model-3-preorders/
So given that, one MIGHT assume that the refund rate for a $100 deposit might be SIGNIFICANTLY higher due to the low barrier to entry.
As far as tax advantages though, this could be good:
This is because It’s estimated that the car is going to be weighing in at over 6000 pounds, much like the Tesla Model X. And that means that it’s eligible for what’s called the Tax Code Section 179 deduction, with…wait for it…BONUS DEPRECIATION.
This is a deduction that applies to business owners who buy a car weighing more than 6000 pounds, and intend to use the car for MORE than 50% business use. This type of tax deduction means that heavy vehicles like this, classify as heavy machinery - and from that, section 179 says you can depreciate the car up to $25,000 in the first year.
Then, you have what’s known as “BONUS DEPRECIATION.” That allows you to potentially depreciate 100% of the vehicle you purchased in that SINGLE TAX YEAR.
https://www.reddit.com/r/teslamotors/comments/bl28kn/section_179_tesla_model_x/?st=k3e81hx4&sh=8bb3cc31
And for me, that’s why I figured…why not…$100 deposit, I may as well just see what happens…and then, 2 years from now as more options and interior design become more clear, I can decide whether or not I’ll actually get one. Plus, I think a lot of other people are in the same boat, as well. They see it as an innovative, new design…it’s absolutely unique…it’s priced in line with more conventional automobiles…and $100 deposit is such a low barrier for most people just to place and then see what happens.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
Late 2021 you can buy the Cyber truck… HAHAHA… Still waiting
How about a 3 year review on how the truck experience has been 😅
Interesting to see how bearish Graham was on the model Y considering it’s their best selling car now
I have to same your name as you!
Gas still has better range then an EV.
Essentially free advertising
Cyber truck is full of features
Still waiting?
You find it hard to believe? 500mi of range. That’s why there are trimotor preorders.
Good video! Quite an interesting vehicle!
Can someone photo shop window wipers on this car so it can't be more realistic and mirrors
me never going to buy the cyber truck, but still watching the whole vid
So wondering how much do you get for a video with almost half a million views? Enough to buy the Cybertruck?
Ok who sponsored you?
Oh my please do NOT get any sort of truck for style you genuinely look like you’re rocking a 2 inch
i just bought mine also. which one did you get GS? the single dual or tri
I preordered a Cybertruck too. 😁 Cannot wait for it to come out! One more year! 🤞
oh lol he made a deposit lol
yey
I will buy it for $0
"Webull is a subsidiary of the multinational Chinese company Fumi Technology."….is there one that is an American owned company? I think we need to support our country not the money?
$100, is market research for Tesla.
That's clickbait. You have to be careful with thought.
The market is not exitend outside of US
I love the whole concept. But Tesla should make it full amphibic. It's allready a hull, just clos ethe holes.
No 20 minutes swimm capabilities! Full amphibic even with empty batteries!
Could be a model variant with added costs, but this should exist and this is the only car that is naturally suited to make it.
I love the cybertruck, I only don't like the very top edge on the roof, if that was flattened to make two edges – one nearer the front, and one nearer the back – would make it perfect
Tesla stock? I’m thinking of buying.
$20 MILLION in 3days
you sound and kinda look like zach from the try guys
For those commenting on the tax aspects of the car: (NOT FINANCIAL ADVICE – YMMV)
For business use of the car: Section 179 Deduction + Bonus Depreciation means that, potentially, 100% of the cost of the car could be a tax write off. If you finance the car 100%, your out of pocket expense is even less during the first few years. Combine that with whatever Federal EV rebates are available for you, depending on your state, in 2021/2022…depending on your tax bracket…and you could be looking at a relatively decent profit owning the car. Sure, you will have depreciation recapture when you sell…but, still – the upfront tax advantages might be worth it IF this car weighs over 6000 pounds (I can't see why it wouldn't)