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18 Model S 100D Totaled

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Also remember to subtract out the IRS EV incentive you got from your depreciation (I think in 2018 you still got the full 7,500 if I recall). If so, your $40k of depreciation may actually be 32.5k or less (depending on your state having other incentives you got)
 
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Thanks for the info on elons tweet and eap, I am waiting on my insurance offer which i hope will be atleast 70k, i should have an offer this week i will keep you guys updated on what you think.

Whatever the number is, you can always negotiate. If you can find comparable cars for sale for more than their offer, let them know.

If you end up with a good payout offer, you may actually be able to get into a brand new MS and lower your monthly payments (I'm assuming your current loan is around $1,159/month) as new MS prices have come down since 2018. A new 2020 LR+ in midnight silver with FSD would be around $91k to $92k including taxes and fees. If you are able to get $75k (including tax/fees) from insurance, apply $42k of that to paying off the 2018 MS loan, and then the remaining $33k towards a new MS..........

New 2020 MS = $91,500 (or so)
Down payment = $33,000
Amount financed = $58,500
$58,500 financed at 2.49% APR for 60 months = $1,038/month
$58,500 financed at 2.49% APR for 72 months = $876/month

You may be able to do better than 2.49% and lower payments even more.
 
I know the GAP discussion is a little off-topic but I wanted to add in my two cents. When I financed my Tesla, the credit union (Alliant) offered a form of GAP protection on the loan. The purpose was to make up any shortfall between the insurance payout and the loan amount so the loan could be satisfied in case of a total loss regardless of what the insurance companies gives you for the car without you needing to come out of pocket.

My first Model S, I ultimately didn't need to use the GAP because the car was totaled about 1 month after I took delivery and the insurance wound up paying out more than the loan amount. The piece of mind however, knowing the fact that I would never not be upside down on the loan, was well worth the $399 one-time fee the credit union charged for this additional protection.
 
Some states require sales tax to be compensated for a total loss, some do not. Check your state's laws / legal precedent.

If the offer comes in way lower than you expect, be sure to request the vehicle comps they used in their assessment. They may just be looking at any battery size (was 75D still around in 18?), paying no attention to mileage, or ignoring any features such as the ones called out in the OP.

Good luck.
 
@Kush Plank
KBB is irrelevant to the insurance company. What they will do is find you a comparable replacement used Tesla and use its value - so in your case the closest car they can find to yours. Once they do, you can argue what options are missing from the comparables, and adjust the payout. The FUSC was once priced by Tesla at $2,000, so chances are that is all you're going to get it you win that one. Insurance is there to "replace the car that was totaled".

Yes it sucks that your 2018 car depreciated so much, but there is nothing you can do about that, and your insurance is not against depreciation (GAP insurance can be, but with a large down-payment GAP was really a waste of money, I know I remove it from all my cars as I usually put more then 50% down so even with price fluctuations I am very unlikely to ever be upside down). If you can buy a similar 2018 at much lower price, that is all your car is worth. I am not sure whether or not you can try to get compensated for a low finance rate, since if you finance the 2018 replacement your monthly payment will be larger, but it might be worth looking into. When I went through totaling of a 1 year old Model S, I negotiated for missing options and just bought a new one by adding some money to the deal. In your case, you bought a $112K car, so 2 year depreciation on a typical car in this category would be at least 25%, so at least $28K. If you can buy a new Tesla for whatever the insurance pays you plug $28K, you are made whole. In this case, the lowering of the prices might actually work to your advantage, as you might end up adding less than $28K to the deal to get a brand new, better Tesla.
 
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on a (somewhat) related note. Learned last year that personal injury lawyers' 33 and 1/3 % fee, is negotiable. There is no rule (at least not in VA) that mandatesa specific fee. On a slam dunk case (like if you are rear ended by an insured driver), by far, the cases never get to court. Gets settled. And takes minimal amount of the actual lawyers time who reps you. Its typically all handled by the paralegals in the office, and the lawyer just signs off.

If you shop around a bit, you can get as low as 20% fee for the lawyer...
Good point but in MY opinion just like doctors all lawyers aren't the same. I want the best I can get. And at least in NY you get what you pay for.
 
Recently involved in a car accident that led to my 18 S to be deemed total, happened just a few days ago so i dont have the settlement value yet, according to kbb 2018 Model S go for around 60-70k. It had less than 25,000 miles.

I need help as the value is completely screwed up, I paid roughly 112k plus sales tax for the 100D back in 2018, i know i can get a similair 2020 S long range for about 85k now including fsd.

So I put about 50k down, so we finaced around 67k to the bank, we still owe 42k. So if the settlement is around 60-70k im down so much money as we will only get 18-28k back in cash after my insurance pays the bank.

This accident was deemed the other parties fault by the police, my insurance, and his own insurance.

So what i am asking is, is there anyway to recover the 40k or so extra that was lost during the 2 and a half years of owning my 100D?

Im hoping if the insurance offerse a low offer, i can argue that i had EAP which is 5k, premium interior which cost 5k back then, 3500 for the black interior color of inside, 1500 for midnight silver metallic, and free unlimited supercharging, which i hope can get more money so i won't have lost 40k of driving the car for two years.

I know that i can get a new 2020 S long range for 85k now compared to 112k when i bought but i feel this is insane how i lost so much money due to my car being totaled.

EDIT: is it possible to get back the sales tax i paid for the vehicle? in my state for 112k car it was around 6-7k of taxes alone.


Why do you think you are entitled to a brand new 2020 Model S? Insurance is meant to replace your vehicle with a like vehicle, not a brand new 2020. If you choose to replace your car with a 2020 LR+ then you will have to pay the difference between a 2018 and 2020. Insurance will not use KBB, they need to give you replacement value. If you get $70-80K (Numbers based on inventory available at Tesla.com) from the insurance settlement, you can just go buy a low mileage 2018 100D for $70-$80k and call it even. You will get a better warranty and be done with it. If you choose to buy a brand new car, then that is your choice, but you will need to pay.
 
Good point but in MY opinion just like doctors all lawyers aren't the same. I want the best I can get. And at least in NY you get what you pay for.
yep/understood. And for a major case? I agree.

But for whats classified as "soft tissue" (Bruise, soreness, no broken bones, no major injuries) cases, the ranges of a payout are already pre-defined in most cases, and generally speaking, its a formula that's used to determine the settlement #. Again for a case like I described where its a slam dunk rear end case? THe lawyer does minimal work. So the quality of the lawyer his/herself, is not a major relevant factor.
You'll end up with the same overall total gross amount (before lawyer %) whether the P.I. lawyer is a 10, or a 8
 
yep/understood. And for a major case? I agree.

But for whats classified as "soft tissue" (Bruise, soreness, no broken bones, no major injuries) cases, the ranges of a payout are already pre-defined in most cases, and generally speaking, its a formula that's used to determine the settlement #. Again for a case like I described where its a slam dunk rear end case? THe lawyer does minimal work. So the quality of the lawyer his/herself, is not a major relevant factor.
You'll end up with the same overall total gross amount (before lawyer %) whether the P.I. lawyer is a 10, or a 8
Should i call the at fault drivers insurance and get a settlement for my bruises and soreness? what is the average payout for that. I have pictures of my bruises when the airbag exploded because i was trying to honk right before this happened.
 
Should i call the at fault drivers insurance and get a settlement for my bruises and soreness? what is the average payout for that. I have pictures of my bruises when the airbag exploded because i was trying to honk right before this happened.

At a minimum, call your insurance and see what is covered if you make a claim under your own policy (and if the claims agent/adjustor has any guidance). Speaking from experience, the other insurance company will be as minimally helpful as legally possible.
 
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Should i call the at fault drivers insurance and get a settlement for my bruises and soreness? what is the average payout for that. I have pictures of my bruises when the airbag exploded because i was trying to honk right before this happened.

airbag deployed and you have photos? I'd suggest at least contacting a personal injury attorney for a free consultation. It's my understanding that there are two scales of payouts that most insurance co's have: one for self represented persons and another for when lawyers are involved. The latter is the higher.

Either way, lawyer may recommend physical therapy or some form of medical treatment. Sometimes pain/soreness may not manifest itself immediately. May come day or days later.

No easy answer to your question. Depends on various factors, sometimes from state to state. But a ballpark for a payout in your hand (after doctor bills are paid, therapists are paid, lawyers get their cut, etc in an accident where the car is totaled and lawyers are repping you? I'd say anywhere from $8k in your pocket up to high teens.
 
airbag deployed and you have photos? I'd suggest at least contacting a personal injury attorney for a free consultation. It's my understanding that there are two scales of payouts that most insurance co's have: one for self represented persons and another for when lawyers are involved. The latter is the higher.

Either way, lawyer may recommend physical therapy or some form of medical treatment. Sometimes pain/soreness may not manifest itself immediately. May come day or days later.

No easy answer to your question. Depends on various factors, sometimes from state to state. But a ballpark for a payout in your hand (after doctor bills are paid, therapists are paid, lawyers get their cut, etc in an accident where the car is totaled and lawyers are repping you? I'd say anywhere from $8k in your pocket up to high teens.
image0-6-jpeg.564613



Here is a image of the crash, now as far as medical treatment goes, i would rather not visit any doctor or therpaist atm since covid is around unless ofcourse i abosultly need it.

As far as injuries go like i said i sustained bruises and soreness in my right arm as i honked the horn before impact and the airbags blew which is when i sustained the injuries.

I might contact a personal injury lawyer and see what they have to say, but i rather not go see any doctor unless i have to.

I know pain and suffering payout is bills x 3, but keep in mind i havent seen any doctors so i have no idea of what a injury lawyer can do in terms of payout
 
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Maybe it will be more, maybe not. I just sold my F-150 Platinum after holding it 34 months and only lost $3.1k. I was in the car biz a long time and generally know how to make that happen. If not, I’ll either decide to take a bigger hit or keep the car. The title is in the nightstand...doesn’t cost me anything.
Trucks depreciate very differently compared to sedans.
 
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Just talked to my insurance, apparently now they want to fix the car, so i told them my perferred tesla approved body center and we should have an estimate soon for repairs. Now my alabama state law is 75% threshhold for total, so If i value my car at about 75k, and then the repair costs should be below 50k, i wonder how much Diminishing value i can get from this then, because the value is ****ed i imagine after repairs, i think DV is 1/3 of repair costs if anyone has thoughts, inputs, etc.

Also getting a rental car was aids af, I personally didnt buy rental insurance for my policy, but the other 3rd party who is at fault offered to reimburse me, but since im 20 i cant rent from enterprise, their min age is 21. The only way to bypass this is if allstate makes a reservation for me then age dosen't matter, but they said they only do this for their insured, and if i need a car during my repair process than it would be out of my own pocket, then reimburse car fees.

I was able to bypass this by renting a car thru Hertz, who min age is 20, and currently they are waiving their fees for under 25 age drivers due to covid so i got a rate of $30 a day for a economy size rental thankfully.
 
image0-6-jpeg.564613



Here is a image of the crash, now as far as medical treatment goes, i would rather not visit any doctor or therpaist atm since covid is around unless ofcourse i abosultly need it.

As far as injuries go like i said i sustained bruises and soreness in my right arm as i honked the horn before impact and the airbags blew which is when i sustained the injuries.

I might contact a personal injury lawyer and see what they have to say, but i rather not go see any doctor unless i have to.

I know pain and suffering payout is bills x 3, but keep in mind i havent seen any doctors so i have no idea of what a injury lawyer can do in terms of payout


I'm sorry for your accident. (sincerely)

But please where was the NSFW caption! Thats my exact car! Oh the horror. I can't un-see this now and have to check my garage!
 
Just talked to my insurance, apparently now they want to fix the car, so i told them my perferred tesla approved body center and we should have an estimate soon for repairs. Now my alabama state law is 75% threshhold for total, so If i value my car at about 75k, and then the repair costs should be below 50k, i wonder how much Diminishing value i can get from this then, because the value is ****ed i imagine after repairs, i think DV is 1/3 of repair costs if anyone has thoughts, inputs, etc.

Also getting a rental car was aids af, I personally didnt buy rental insurance for my policy, but the other 3rd party who is at fault offered to reimburse me, but since im 20 i cant rent from enterprise, their min age is 21. The only way to bypass this is if allstate makes a reservation for me then age dosen't matter, but they said they only do this for their insured, and if i need a car during my repair process than it would be out of my own pocket, then reimburse car fees.

I was able to bypass this by renting a car thru Hertz, who min age is 20, and currently they are waiving their fees for under 25 age drivers due to covid so i got a rate of $30 a day for a economy size rental thankfully.

If an estimate was never generated in the first place, how did they make the judgment to total?

Keep all receipts from Hertz, and do not be surprised when Allstate declines to reimburse those rental fees for some reason.

I don't know your locale, but I went through a similar process in TX and documented the painful resistance of insurance.
Collision, Repair and DV/LoU Lawsuit: My Nearly 500 Days of Fun
 
If an estimate was never generated in the first place, how did they make the judgment to total?

Keep all receipts from Hertz, and do not be surprised when Allstate declines to reimburse those rental fees for some reason.

I don't know your locale, but I went through a similar process in TX and documented the painful resistance of insurance.
Collision, Repair and DV/LoU Lawsuit: My Nearly 500 Days of Fun
So i just reviewed my online account, they posted their own estimate there, im sure the price will increase as they open up the front of the car, current estimate is 10k. ill post some pics of the repair parts and estimate total, i really hope the car can be restored to same pristine condintion as post crash, i did not see any mention of wheels / tires even though the front right wheel / tire is ****ed.
 

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