2013 p85 - Totaled - Need help with valuation

[scot]

Long story short, a family of deer decided to run into my 2013 p85. On any other car, this would be a simple fix, but unfortunately the parts are no longer available and to replace a quarter panel you have to also replace 4-5 other parts, which then look different from side to side and so on and so forth.

In the end the repair cost would be well over the total value and... here we are.

Insurance first valuation is 29k for the car. It is a fully loaded p85 with every option available at the time including the faster charging option, cold weather pack, sliding sunroof etc. Red as well if that matters.

Very good condition before the accident.

What do you all think?

As for whats next, probably a model 3 LR (undecided used or new). The depreciation hit on the S was too much, and with the new one coming in a few months and the other new vehicles entering the market... I'm going to wait on another higher purchase price vehicle.

 

[domodan]

I’d buy the new long range S. The 3 is...a much different car.

Can’t help you with the valuation, but just remind you the depreciation was due to Tesla slashing the price of the car. That can’t continue to happen from the point they’re at now, aside from possibly doing some correction on the recent $10k price bump.

If you don’t want to buy a new one, buy a used Model S. They can be had for prices equal to a 3.

 

[scot]

I’d buy the new long range S. The 3 is...a much different car.

Can’t help you with the valuation, but just remind you the depreciation was due to Tesla slashing the price of the car. That can’t continue to happen from the point they’re at now, aside from possibly doing some correction on the recent $10k price bump.

The devaluation was due to AP (not being avail on the older ones) plus natural depreciation. I took a big hit, and I am not willing to risk 90k on another model S (which would be price plus tax here). Plus I have to play property tax on my car every year here, which would add another 10-15k to the cost of the car amortized over the course of 6-7 years (my normal car ownership period). So while yes, the 3 and S are very different, the costs are VASTLY different, 53k vs 90k+.

A used S, with remaining warranty, is going to be minimum of 65k. For instance a CPO of a 2018 100d is 67.6k with warranty good until feb 2023 (with the 1year added). Much closer, but also older.

Really though, I need help on the valuation first. Once we get passed that, I can think more about my next car.

 

[coyote1b]

We have a 2013 Model S P85 with most options. It was involved in an accident and they wanted to total the car. This was at least 2 years ago. I believe we settled for around $36K. I bought the car back and fixed it myself. It is our favorite car and I did not want to let it go. So $29K may not be an unreasonable offer.

 

[demundus]

29K seems about right unfortunately. You might be able to muscle them up a few grand but thats the state of a 2013 S, loaded or not.

About 3 years ago i was hit in a low speed impact, 25k of damage to the rear quarter of the car. I thought FOR SURE they would total it. It was a base 2013 with nearly no options. Adjuster told me it was worth about 55 to them so i didnt even come close to total loss.

 

[rickyjb]

sorry to hear about the damage and hope you are okay , p85's are great cars and the prices on them are surprisingly low . Paid £35000 for mine 3 years ago , 2014 54k miles all the options and cyclone rims.

what mileage did you have on yours ?

 

[CapeOne]

You didn’t mention how many miles your car has but below is a 2013 MS P85 with 99k miles for $25,895 not too far from you in Maryland.
Used 2013 Tesla Model S P85 For Sale - Trust Auto Sykesville, MD

If your state is like most, the insurance payout number includes sales tax and potentially title/registration fees.

 

[ucmndd]

29k sounds just about spot-on depending on mileage.

 

[scot]

60k, so yeah it sounds about right. Thanks all.

 

[Gwgan]

So sorry to hear a 2013 is down. Hope everyone is ok.
Would you consider sourcing used parts youself from other wrecks and then making everything match with a wrap? Are some parts structural?

 

[Crutonius]

In my area the s you describe would go for around maybe 32-35k on the used market from a dealer.

I think your insurance estimate is just a little low IMHO.

 

[OrbiterTI4]

When you request it, the insurance company should provide the report on how they arrived at that valuation.

Verify they have all options and the mileage from your vehicle accounted for.
Check the age of the comps from the report - anything pre-COVID may not be viable.
Check listings on your own to see if you can get a swag on what an average listing price is.

 

[David.85D]

I seem to post this into every one of these discussions, so here goes

eV-CPO.com let’s you search previously sold Tesla’s as well as current used inventory. Useful for this sort of research…