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2013 P85+ trade-in value at local BMW

Discussion in 'Model S' started by tchaimd, Jul 21, 2014.

  1. tchaimd

    tchaimd Member

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    Greetings, guys,

    Today I went to my local BMW here in Houston, as I was simply interested in what my 2013 P85+ would trade in for. My car cost $114,520. It has 8,500 miles. 10 months old. Perfect condition. Guess how much they offered me?

    In the mid $80's.

    Just wanted to share that with you all, if you needed a laugh today.
     
  2. texex91

    texex91 Banned

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    I found when I sold my P85+ the resale value is pretty bad. Kinda surprised since we all paid MSRP.

    Probably would not buy another one because of poor resale value.
     
  3. dsm363

    dsm363 Roadster + Sig Model S

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    Doesn't that apply to any expensive car though? If you take a Porsche 911 GT3 and drive it off the lot you lose thousands of dollars.
     
  4. evme

    evme Member

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    #4 evme, Jul 21, 2014
    Last edited: Jul 21, 2014
    Private sale is probably a better option to go, but overall Edmunds checked the cost of their car to be 79,000$ for 103,770$ which they bought it for (24% deprecation which is about average resale value of 22%). I think they sold it for more privately.

    CarMax Offer - 2013 Tesla Model S Long-Term Road Test


    But you also you have to factor in tax credits influence on the cost. The 7.5k plus 2.5k in California means the resale value is automatically 10k less due to that. (so 15% deprecation in value)

    The sold it for 83,000$ with 30k miles on it. (20% deprecation, 11% deprecation when factoring in tax credits)
     
  5. MoeMistry

    MoeMistry Local Vendor - SoCal

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    +1...a typical high-end vehicle, is nearly half, or at least 2/3, the price in about 3-4 years.

    I think the market ultimately will give fair value.

    I thought Musk claimed a SET price on these things if you ever decide to sell them. Do you sell back to Tesla direct? How would this work since there isn't a "dealer" involved?
     
  6. texex91

    texex91 Banned

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    Well not really if you buy right. By way of example, bought a 2015 S550 got sick of it, and actually made $2k on it.

    On my P85+ I lost $20K in almost 90 days--worst resale ever. I flip cars a lot, and may loose a few thousand here or there, but Tesla S lost my shorts. Just a fact, no biggie.

    Just bought a 2015 RS7, and with any car it's about buying it right on the front side. Considering we all paid the same, one would thing Tesla S would hold value better, but it doesn't. Just an observation.

    May buy another Tesla S in the future, but for now sticking with better resale value cars, just because I flip a lot.

    My 560HP gas guzzler.
    IMG_0165_zps04746ea2.jpg
     
  7. Chickenlittle

    Chickenlittle Active Member

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    you forgot to include the 7500 dollar tax credit and anything your state may have given you as well. leaving out details like that indicates your business skills. perhaps you should not have traded it in to the first offer given. frequently shopping it around will get you a better price
     
  8. Seven7

    Seven7 Member

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    I still don't understand why you sold your Tesla
     
  9. texex91

    texex91 Banned

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    My business skills...ok. Really tax credit--no kidding.

    I better sell both of my companies I founded and get on unemployment since I have no business skills.

    I was simply stating resales price.

    Thanks for your feedback--I think.
     
  10. AmpedRealtor

    AmpedRealtor Active Member

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    Why would anyone "flip" a Tesla at a loss? That doesn't seem financial sound or viable.
     
  11. texex91

    texex91 Banned

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    Because I'm a car freak--I admit it. I buy WAY too many cars (4-5 per year) and need to slow down.

    Maybe I can be converted back again...I'm here for a reason :wink:
     
  12. SwedishAdvocate

    SwedishAdvocate Active Member

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    So which one do you like more? Your ex-P85+ or your current RS7?
     
  13. GLDYLX

    GLDYLX Member

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    Okay, I'll say it; if you're buying new cars and flipping them every few months, thank you for providing the rest of us with nice used cars.

    If you can afford to take the depreciation hit and it makes you happy, more power to you.

    And while you're at it, please buy a Model III fully loaded and I'll fly out and buy it from you when you get tired of it. Blue, please.

    Unless TSLA covers the cost of a new one for me...

    Happy Monday!
     
  14. texex91

    texex91 Banned

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    Ah good question my friend. Each for different reasons:

    Interior: RS7 (See pic below--one of the only major beefs with S)
    Instant Torque: S
    High end Torque: RS7
    Tires: Both 21"
    Fewer in Wild (at least in Austin): RS7 - S's are like in CA now--everywhere.
    Range: RS7
    Resale: RS7
    User Interface: S
    Paint job: RS7
    Looks: Almost a tie
    Stereo: RS7 (Bang & Olufsen is sublime) - still think Tesla needs a REAL upgrade option (not the no name upgrade they have)

    Hey, I really enjoyed my P+, no doubt. With a better interior, stereo and larger battery (400-500 mile range) I would be a buyer again.

    No hate for Tesla from this guy at all...

    IMG_0154_zps82050d70.jpg
     
  15. AmpedRealtor

    AmpedRealtor Active Member

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    I've found the upgraded factory sound to be amazing - as good or better than similar offerings. Tesla doesn't need to be beholden to another brand when it comes to sound systems, they are doing just fine.
     
  16. texex91

    texex91 Banned

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    Well have you ever owned a real high end system (B&O or Burmester)?

    There is a reason they are $6-$8K options--worth every penny.

    If you have you might think different.

    Hey I owned Tesla's version, and it's not that great. But again, if you haven't had a high end system it's hard to compare.

    No worries, we all have opinions.

    Point is Tesla could make even more margin if they would offer a real high end system (people are willing to pay).
     
  17. David_Cary

    David_Cary Member

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    An S85 will hold resale value much batter than a P85+. Because the Model S is the latest/greatest, all sorts of people will a lot of money but a P85+ and then move on. I know of one who has a deposit on a i8. So the first $20k goes really fast.

    People who are a little more frugal buy a S85 and they are much less likely to sell since flipping cars can be an expensive habit. And then people buying used cars are looking for value and the S85 is the value car.

    I would never pay $10k for a P but I might pay $4k which is what the used car differential might be when I am looking.
     
  18. amzng_ev

    amzng_ev Member

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    How can you compare the rarity when the RS7 looks nearly identical to the A7, minus a few small details?
     
  19. AmpedRealtor

    AmpedRealtor Active Member

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    B&O brings nothing to the table in terms of sound quality. B&O is a design company, so you are paying for looks over performance. B&O has earned a high end reputation because of their amazing designs and high prices. But the performance lacks in almost every way. Brand whores would appreciate a B&O faceplate because it brings with it a certain psychosomatic effect.
     
  20. texex91

    texex91 Banned

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    Well, kinda very different.

    It's kinda like a base S you can tell vs a P85+--simple. Very different looking cars.

    To the average Joe no. But to me yes, I can certainly tell the difference. PLus better yet, I get to live with the difference--and it's amazing (P+ or RS7--there's a reason they are the top of the food chain).

    But thanks for trying.
     

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