2024 Model 3 Performance Announced - Discussion thread post announcement

[JezzaE]

Still waiting for the verified 10.9 run without weight savings

https://twitter.com/x/status/1796329123008446464

 

[cptnslo]

https://twitter.com/x/status/1796329123008446464

This was the one that wasn’t verified because of the negative slope

 

[Newdoc]

Not sure where to post this question so here it goes. If anyone is familiar with used Tesla values, how will the tax credit affect M3P values going forward? It's in a weird spot because not all buyers qualify for the tax credit but more variable is the timing of purchase and color combos that qualify. So would a SG/black or white interior be valued much less than a Black or Red with white interior as a used vehicle? Or does the tax credit put downward pressure on the whole model line? I realize this is a scenario for much later as demand will drive good value for at least the rest of the year.

 

[oreobbq]

Not sure where to post this question so here it goes. If anyone is familiar with used Tesla values, how will the tax credit affect M3P values going forward? It's in a weird spot because not all buyers qualify for the tax credit but more variable is the timing of purchase and color combos that qualify. So would a SG/black or white interior be valued much less than a Black or Red with white interior as a used vehicle? Or does the tax credit put downward pressure on the whole model line? I realize this is a scenario for much later as demand will drive good value for at least the rest of the year.

It shouldn't have much impact. They'll all depreciate quite hard like past Teslas. The numbers on a lease are bad because they factor in the drop in value. If you don't want to keep the car for very long though that may be an option for you.

 

[Destiny1701]

Given how Teslas have faired out in the last few years (Covid inflation notwithstanding)
they depreciate quite hard. If one is not holding long term, a lease may be the way to go.

Short term 2-3 yrs flipping… there is zero advantage to losing asset value at this fast of a rate. Falling into -ve equity is a huge issue with EV’s in general.

 

[JezzaE]

This was the one that wasn’t verified because of the negative slope

Gotcha

 

[GregD60]

Given how Teslas have faired out in the last few years (Covid inflation notwithstanding)
they depreciate quite hard. If one is not holding long term, a lease may be the way to go.

Short term 2-3 yrs flipping… there is zero advantage to losing asset value at this fast of a rate. Falling into -ve equity is a huge issue with EV’s in general.

Any EV eligible for the tax credit will depreciate hard from the list price. It's probably more appropriate to look at the depreciation starting from the list price minus the credit amount. When looked at that way, Teslas have been depreciating less than most of their competition.

 

[cptnslo]

Where is everyone who went to the track dammit lol

 

[Destiny1701]

Any EV eligible for the tax credit will depreciate hard from the list price. It's probably more appropriate to look at the depreciation starting from the list price minus the credit amount. When looked at that way, Teslas have been depreciating less than most of their competition.

Unfortunately because of 20-30% drops in list price over the past year, it’s been sadly much more than the typical manuf.

New car credits make it more difficult to buy used given the delay becomes quite low.

 

[Jeremy3292]

If you’re worried about depreciation, you shouldn’t be buying. Cars are an expense, plain and simple. You either accept the expense at the time or you don’t. No such thing as a good investment when it comes to any car. Residual sale value is simply a luxury and usually can’t be predicted.

 

[terranx]

If you’re worried about depreciation, you shouldn’t be buying. Cars are an expense, plain and simple. You either accept the expense at the time or you don’t. No such thing as a good investment when it comes to any car. Residual sale value is simply a luxury and usually can’t be predicted.

It can be predicted to an extent. Teslas depreciate drastically faster than other cars. To say that shouldn’t have any consideration when making a purchase decision is nonsense.

 

[SO16]

If you’re worried about depreciation, you shouldn’t be buying. Cars are an expense, plain and simple. You either accept the expense at the time or you don’t. No such thing as a good investment when it comes to any car. Residual sale value is simply a luxury and usually can’t be predicted.

Definitely.

Buy used or lease if worried about resale. If buying new, keep for many years and many miles.

 

[Jeremy3292]

It can be predicted to an extent. Teslas depreciate drastically faster than other cars. To say that shouldn’t have any consideration when making a purchase decision is nonsense.

Tesla prices have been remarkably consistent since 2021. My 2021 M3 LR was $49,990. Price today? $47,740.

What happened in the middle was COVID/inflation pricing and people made bad decisions buying cars that weren’t worth what they paid for it. They were selling RAV4s at the Toyota dealership next to me for $50k in 2022.

Teslas don’t depreciate any faster than any other OEM. If you bought a $50k RAV4 in 2022, it’s not even worth half that now. Don’t make poor financial decisions and you won’t have to worry. It’s really pretty simple, even if it sounds harsh.

 

[terranx]

Tesla prices have been remarkably consistent since 2021. My 2021 M3 LR was $49,990. Price today? $47,740.

What happened in the middle was COVID/inflation pricing and people made bad decisions buying cars that weren’t worth what they paid for it. They were selling RAV4s at the Toyota dealership next to me for $50k in 2022.

Teslas don’t depreciate any faster than any other OEM. If you bought a $50k RAV4 in 2022, it’s not even worth half that now. Don’t make poor financial decisions and you won’t have to worry. It’s really pretty simple, even if it sounds harsh.

Anyone can cherry pick data to make their point.

If you look at general trends, teslas depreciate faster than most EVs, which depreciate faster than most cars. A big part of that is teslas prices changing so often that people dont trust the value to be stable.

 

[mpgxsvcd]

Where is everyone who went to the track dammit lol

We are all waiting for our new cars to arrive. We went to the track with our old cars instead.

 

[cptnslo]

We are all waiting for our new cars to arrive. We went to the track with our old cars instead.

Haha wasn’t there at least 2-3 people who were supposed to take the new M3P to the track if I remember correctly

 

[Lolo780]

Where is everyone who went to the track dammit lol

Busy trading GME.

 

[Jeremy3292]

Anyone can cherry pick data to make their point.

If you look at general trends, teslas depreciate faster than most EVs, which depreciate faster than most cars. A big part of that is teslas prices changing so often that people dont trust the value to be stable.

If you’re worried about the price and residual value, then you shouldn’t buy the car. A car is an expense; a house is an asset.

The problem is people stretch their budgets and get in over their heads on monthly payments (debt) and then find things to complain about, like the resale value of their car. But the issue never was the residual value…the issue was a poor financial decision in buying a car they never could afford.

I know damn well when I sell my 3 year old 2021 LR w/ AB I’ll be lucky to get $25k for it, half of what I paid in Sept 2021. But I accepted that expense when deciding to buy a new M3P after owning a car for only 3 years. Remember, the value is only realized when sold. If you keep the car and drive it around til it breaks, then there is no residual value issue (which is the smart financial choice).

I digress.

 

[Apprunner]

If you’re worried about the price and residual value, then you shouldn’t buy the car. A car is an expense; a house is an asset.

The problem is people stretch their budgets and get in over their heads on monthly payments (debt) and then find things to complain about, like the resale value of their car. But the issue never was the residual value…the issue was a poor financial decision in buying a car they never could afford.

I know damn well when I sell my 3 year old 2021 LR w/ AB I’ll be lucky to get $25k for it, half of what I paid in Sept 2021. But I accepted that expense when deciding to buy a new M3P after owning a car for only 3 years. Remember, the value is only realized when sold. If you keep the car and drive it around til it breaks, then there is no residual value issue (which is the smart financial choice).

I digress.

You probably have been better off leasing with the 3 years schedule. I plan to buy next year and at that point, my car would have been in use for 6 years. Also, my car is a 2019 model but she has been solid while I have other friends with Teslas that have been a disaster. Hard to part with a car thats been so good to me

 

[fetar30310]

Anyone can cherry pick data to make their point.

If you look at general trends, teslas depreciate faster than most EVs, which depreciate faster than most cars. A big part of that is teslas prices changing so often that people dont trust the value to be stable.

I've seen multiple dealers refuse to take Teslas in on trades because they're worried about getting hosed overnight.