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60 Owners : How much less are our cars worth today?

Discussion in 'Model S' started by Rifleman, Jul 17, 2015.

  1. Rifleman

    Rifleman Now owns 2 Model S's!!!

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    When the 70 D was announced, lots of 60 owners were upset thinking their car just dropped in value. I was not one of those people at the time. At the end of the day, the lowest cost of entry to a Model S actually went up, and in turn would support the value of our cars. Looking at 40kWh prices, they have held up pretty well, and generally sell for a higher residual percentage than other model S's.

    Fast forward to the S70. Now, the cost of entry is the same as our 60's, and actually 2k less, as it includes supercharging. In addition. it has the unlimited mile power train warranty, opposed to our 125k warranty. I love my car, and have no regrets buying it, but I feel that the value of 60 kWh cars is far less today than it was yesterday. The good news for me is I plan on driving my car until the doors fall off, so residual is not a big concern for me, and the range of the 60 is sufficient for my needs, but I cant lie, I would love to have had an option to get the better power train warranty, as I will hit the 125k long before I hit the 8 years.

    What to my fellow 60 owners think, did our cars just loose 10k in value today, or am I concerned about nothing?
     
  2. glhs272

    glhs272 Unnamed plug faced villian

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    I can't say much about the value of the car, but it would be nice if the drive train warranty got bumped to unlimited miles like every other Tesla. In fact even if it was just the drive unit and not the battery. Mostly because of the drive unit issues. It is the same drive unit that the S85 has after all. Btw, my 60 battery is holding up very well, beyond my expectations.

    The fact that Tesla has come out with a 70 for the same price as the original 60 doesn't bother me at all. I expect and want Tesla to keep making the cars better. It has been 2 years since I got my 60, so I think they are actually late with this. The only way to have the "best" Tesla is buy a new one every day :)
     
  3. Rifleman

    Rifleman Now owns 2 Model S's!!!

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    I agree on that. I fully expected bigger and better battery options to come out, and am actually happy about it, as in 10 years or so I will probably be looking to buy a new battery, and would love to turn my 60 into a 120. The real value reduction comes from the supercharging and warranty now becoming standard on the base model, when they were expensive options for the 60. I agree, it would be nice if they would at least give our drive until the same warranty that every other tesla gets, but they are under no obligation to do so.
     
  4. ItsNotAboutTheMoney

    ItsNotAboutTheMoney Active Member

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    Just wait until Model 3 and the coming generations of BEVs.
     
  5. neroden

    neroden Happy Model S Owner

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    Hard to say.

    In the aftermarket, my sense is that most of the options don't count for much; a fully loaded P85+ and a stripped S85 of the same vintage and mileage seem to go for rather similar amounts. (Dual chargers may have some value.) But 60 vs. 85 counts for at least as much as it did when the car was new, possibly more.

    It's hard to tell how the 70 will impact that.
     
  6. jskenney

    jskenney Happy Member

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    As example, I traded in my S60 for a 70D last month, and and their trade estimate had the resale value at 68,300. The car is now on their website (as of Thursday) 60 kWh Model S P33145 | Tesla Motors with a price of 62,700.
     
  7. Merrill

    Merrill Active Member

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    Not planning on selling my 60 and it was proving just yesterday that Tesla will have bigger batteries in the future and if I want I can purchase one down the road and have it installed for a lot less than the current cost.
     
  8. Brass Guy

    Brass Guy Member

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    I was thinking the same thing when I was rationalizing my purchase. Right now it still seems like Tesla doesn't want to upgrade anyone's battery, but I bet 15~20 years from now if you need a new battery they won't have anything less than a 120 in stock.

    Rifleman, don't forget most of what was the Tech package is also standard now.
     
  9. Rifleman

    Rifleman Now owns 2 Model S's!!!

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    Yes, but at least that effected everyone equally, while changing the base model to include the unlimited warranty and supercharging only effected those of us who had bought 60's. If they dont back up on the "no upgrades for 60's" policy, at some point that will become a serious detriment to the cars value. I suppose Tesla may be pushing the price of the 60 down intentionally, to create cars at a lower price point until Model 3, and since I never intend to sell, I dont care about residual, but it would be nice to be treated like everyone else.
     
  10. GSP

    GSP Member

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    Perhaps upgrades to the 70 kWh pack will not need suspension changes, and Tesla will offer that in the future. This could apply to batteries with future chemistries with even more kWh for the same weight as today's 60.

    If the upgrade price is $500/kWh that would be $35,000 to upgrade to a 70. I would drive the wheels off the 60 first.

    GSP
     
  11. rlang59

    rlang59 Member

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    I'm not sure where this rumor about the suspension being different between the non performance models comes from but considering there have been cases of 60's upgrading to 85s and some 60s in CA have gotten invites to the swap station which only stores 85kwh batteries I'm not sure there is any truth to it.
     
  12. Brass Guy

    Brass Guy Member

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    I was referring to this statement:
    So you could say closer to 6k less, plus the upgraded warranty.
     
  13. dsm363

    dsm363 Roadster + Sig Model S

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    This will happen to all the cars. My P85 is now ancient lacking folding mirrors, autopilot hardware and a lot of other things. Tesla moves along rather quickly.
     
  14. TheShark

    TheShark New Member

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    Just took delivery (6 days ago) of an inventory S60 which I am comfortable I got a fair deal on. I have to agree on the confusion surrounding the CPO program, pricing structures, depreciation, etc. It was not easy to make a good comparison. I have a 3 tab spreadsheet that i built just trying to keep it all straight between a 70D, the 60 and a used 85 so I'd get comfortable with the pricing. The discount from new build was substantial, the vehicle had barely 3k miles on it. All in all I'm happy that I was fairly compensated for the mileage on the car and the difference in value from the current model line up.

    IMHO a meaningful challenge in valuing these vehicles right now is the continued shuffling of features between standard, packages and standalone. Great example: the power lift gate and fog lights/cornering lights(which were must haves for me since they are functional) were included in the autopilot tech package on the S60 but are now part of the $3000 "Premium Interior and Lighting" package. So AP + features i wanted were valued at $4250 on the S60 tech package but are now $5000 for a new build (AP + Premium).

    full disclosure: I did lease because I felt that 3 years from now the Model S and Model X feature set will be so different it'll be hard to value a 2015 fairly, even with the trade in value guarantee. I'm happy to have Tesla and US Bank take on that risk for me.
     
  15. invisik

    invisik Member

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    Upon purchasing, my impression was there was going to be a lot more upgradability (software and hardware) to help keep older models less "old" (if you wanted to spend the money). I think you can count the after-purchase upgrades on one hand, and Tesla isn't striving to make many upgrades available. It's kind of a disappointment, but Tesla is at least ahead of the general car industry for upgrading (software mainly). It's really ending up being not that much different then any other car brand in this respect.

    It's still a great car and with any model/battery is still worth it, IMHO....

    -m
     
  16. bxr140

    bxr140 Member

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    But those aren't consumables. At some point Tesla is going to have to start replacing batteries, since the alternative is dismal residual and even worse publicity. When they do, it will be interesting to see what level of technology is in those replacements batteries.

    Keeping inventory of A packs and 60's to service that need seems very legacy auto industry...
     
  17. invisik

    invisik Member

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    It does, but it seems to be kind of a reality.. it will be interesting to see how Tesla handles that over the next 15-20 years.... especially as these cars are going to last "forever" .....

    -m
     
  18. dsm363

    dsm363 Roadster + Sig Model S

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    I don't doubt they will offer battery pack upgrades of some kind in he future once the Gigafactory is online. Will be interesting to see what they offer indeed. They could always replace the same battery pack size you had before just with less cells and lower cost or offer bigger pack upgrades too.
     

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