Should I pull the trigger?

[Birdsfan]

I'm thinking of trading in my current 2021 M3P for the 2024 M3P. I'm hoping to get some feedback from my fellow Tesla owners. My M3P has 30k on it, no accidents, dents dings...VERY clean with a full winter set up of wheels and tires. I owe about $29k with a rate of 2.49%, less than three years left on the loan. I have a black on white which I really love. In order to qualify for the $7,500 I need to either go stealth grey on white or black on black (I would most likely go black on black even though grey helps hide paint defects). I just put new rubber on the car (of course). Tesla is offering me $28k for the trade (not a hard number yet) which makes the trade in a wash. My payments will be within a few dollars of each other though I'll pay more in interest overall. I like the ventilated seats and the new front end. Not sure if the battery pack is the same as my existing one, HP seems to be the same? Am I stupid for considering this?

 

[Benito1283]

Have you driven the 2024 yet? That might help steer you one way or the other? I personally would have a difficult time giving up the USS on my 2021 MY. On the other hand, hard to turn down a basically even trade for a three year newer brand new car (if I’m understanding correctly).

 

[Birdsfan]

Have you driven the 2024 yet? That might help steer you one way or the other? I personally would have a difficult time giving up the USS on my 2021 MY. On the other hand, hard to turn down a basically even trade for a three year newer brand new car (if I’m understanding correctly).

I have driven the Highland 3 but not the M3P. You summed it up correctly, basically a wash for a new car...

 

[oreobbq]

In my opinion the new one is significantly better, but the responsible thing to do is to keep that junker.

If you have the atom processor it will be an even better upgrade.

 

[ewoodrick]

I'm thinking of trading in my current 2021 M3P for the 2024 M3P. I'm hoping to get some feedback from my fellow Tesla owners. My M3P has 30k on it, no accidents, dents dings...VERY clean with a full winter set up of wheels and tires. I owe about $29k with a rate of 2.49%, less than three years left on the loan. I have a black on white which I really love. In order to qualify for the $7,500 I need to either go stealth grey on white or black on black (I would most likely go black on black even though grey helps hide paint defects). I just put new rubber on the car (of course). Tesla is offering me $28k for the trade (not a hard number yet) which makes the trade in a wash. My payments will be within a few dollars of each other though I'll pay more in interest overall. I like the ventilated seats and the new front end. Not sure if the battery pack is the same as my existing one, HP seems to be the same? Am I stupid for considering this?

You are probably within a year or two of paying off the car. You are happy with it and there's not that much difference in the new model.

Sit in one and list the differences. Would you pay $29k for them?

 

[EVRider-FL]

I think most people have already decided to pull the trigger by the time they ask the forum. Enjoy your new car!

 

[Birdsfan]

I think most people have already decided to pull the trigger by the time they ask the forum. Enjoy your new car!

That was a very intuitive reply EVRider...I'm trying to not make a rash decision and I thought reading peoples thoughts would help sway me, like yours

 

[Adam3]

Wait until December. You'll get 2025 model year, end of year discounts, and that gives you a chance to test drive first to see if it's even worth it.

 

[Dear_OP]

Gives Tesla time to fix any initial teething problems.

 

[OCR1]

I would not want to take on more debt and pay a higher interest rate to trade in a car in perfect condition with low mileage and nothing wrong with it.

 

[Birdsfan]

Lots of good feedback both pro and con. The $7500 tax credit is quite tempting but perhaps a slow burn is what I should be doing. I had a nice email exchange with Matt at Tech Forum (YouTube) and he is the similar situation I am. I installed his Atlas screen mount a few years ago and was wondering about compatibility if I buy the new M3P.

 

[gsmith123]

Financially, of course it doesn't make sense (but then again buying a performance vehicle is never going to make sense).

How much is this upgrade worth to you? Offhand, given the trade in value of the current car, cost of the new M3P, and interest rates it seems this will cost you about $10-15k. Personally, that seems not worth it coming from a 2021 car. If you were coming from a beat up 2018 Model 3 with 150k miles then I'd probably say differently.

 

[father_of_6]

My 2021 Model 3LR (picked up Dec 2020) has 55k miles and feels like a brand new car. Can't even imagine thinking about trading it in.

I *would* like vented seats, but not for $30k, loss of USS and stalks. Truly, I don't think I'll even buy another Tesla without stalks. I don't like the idea of losing USS either, but could survive without it. I've driven the stalkless and it's not for me.

 

[KenC]

In my opinion the new one is significantly better, but the responsible thing to do is to keep that junker.

If you have the atom processor it will be an even better upgrade.

What's wrong with Atom?

 

[gsmith123]

Slowwww (for some things like the web browser or pulling up the backup camera) and it seems Tesla is slowly not supporting it for new features

 

[Tiger]

Sell your current car first as soon as possible before its value tanks. Then decide what you get for replacement from a more clear point of view.

 

[father_of_6]

That's one thing I think is a bit of about this equation - you're using Tesla's trade-in value. Private sale would be better.

I'm still on the side of "this is a poor financial choice and your existing car is fantastic"... but still, you'll get more if you sell it yourself.

 

[petercc9]

I think I'd go crazy without the steering wheel stalks. Especially when quickly engaging/disengaging FSD.

 

[sgtauto]

Just pulled the trigger on the 24 M3P. It is to replace my 2002 tundra. I bought it new and drove it. Its going to one of my kids who needs a car. Keeping a reliable car running where it isn't costing a tone you can be one of the best things for your long term finical health. Just my $.02. A 21 mp3 is still practically brand new in my book and one hell of a fun car. Take care of it an enjoy it. I hope to enjoy my MP3 for as long as the tundra. Time will tell.

 

[jgleigh]

Lots of good feedback both pro and con. The $7500 tax credit is quite tempting but perhaps a slow burn is what I should be doing. I had a nice email exchange with Matt at Tech Forum (YouTube) and he is the similar situation I am. I installed his Atlas screen mount a few years ago and was wondering about compatibility if I buy the new M3P.

And now you can't get red paint and still qualify for the tax credit. Feels like Charlie Brown and the football.