It turns out Tesla Inc.'s (Nasdaq: TSLA) new Model 3 electric car will likely set you back more than the advertised price of $35,000.
A color other than black bumps the price up by $1,000. A full autopilot suite, which assists with lane-changing and parking, runs $5,000. And if you want a longer range on an electric charge than the standard 220 miles, you can add $9,000 onto the base price.
Other add-on options include pre-equipped self-driving capability, a luxury interior upgrade, and 19-inch wheels (instead of the standard 18-inch).
A Model 3 with all the available features adds up to nearly $60,000 - not exactly in the price range of the average consumer.
In light of this disappointing revelation, some investors have soured on Tesla stock. But Money Morning Chief Investment Strategist Keith Fitz-Gerald says the problem is that they're looking at Tesla as a car company. Keith joins FOX Business Network's "Varney & Co." to tell us what we're really buying when we invest in Tesla.
Editor's Note: "Must-have" companies backed by Unstoppable Trends are a cornerstone of Keith's wealth-building strategy. But there's another type of investment he wants Money Morning Members to know about. It's one of his favorites, a kind of "desert island fund" he'd buy if he had to park his money in one place, "retire" from civilization for 20 years, and come back to a pile of money. Click here to learn more...
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