I already have one but I would be skeptical of any large purchase right now. I would rather take the down payment and dump it into the market once it starts going back up. Its so far down that even if you miss the low there's a bunch to be made. In 6 months when everything is back stable pull your original down payment out to get the car and keep the rest in the market.
Anyone considering delaying their purchase due to Market Downturn related to Corona virus?
- Thread starter m3-ricardo
- Start date
I was going to order for 3Q but unfortunately my down payment is in the market and I didn't get it out before the downturn. I'll have to wait a while longer unless a huge turn around happens this summer...
So I had originally paid cash for my M3P by submitting early payment ( 4-5 days before this whole covid19 outbreak) I was extremely nervous about this whole situation as my industry has been hit very hard by this outbreak
Spoke to SA and was able to arrange finance myself through a CU. SA did a great job in switching the order and getting my refund submitted and sent out to me ASAP.
Still picked the car up and I’m so glad I did. It’s just awesome.
now waiting for the cash to drop in my account and slap it all on the markets along with my other money stashed away.
Spoke to SA and was able to arrange finance myself through a CU. SA did a great job in switching the order and getting my refund submitted and sent out to me ASAP.
Still picked the car up and I’m so glad I did. It’s just awesome.
now waiting for the cash to drop in my account and slap it all on the markets along with my other money stashed away.
Imolared
Member
I was willing to overlook all this virus stuff, I was scheduled to take delivery noon, 30 minutes before my delivery, got a call saying that the car hasn't even arrived at the delivery center and it's stuck on some warehouse. I think this is the sign that I need to cancel this entire thing for now. Re-evaluate again in 6 months.
AlanSqB
Dog Chauffeur
Got mine yesterday. It is indeed a lovely distraction from our all-day-every-day COVID day jobs.
Charlos214
Member
Took delivery at my house yesterday too. The family and I enjoyed getting out of the house and just driving around while socially distancing ourselves. I debated over the last few weeks cancelling however I decided if the virus caused downturn caused me to not be able to pay the debt in several months, then we as a country/world have bigger issues than my car being repo-ed. Model 3 P is a FUN way to get your mind off the current issues!
TonyJag
Member
My blue M3P is ready for pickup. Tesla has been good about delaying it by a few days still in March and have even agreed to deliver it to our home. But I still have concerns.
1. Fit and finish. There has been a lot of bad news in the past, but I thought quality was improving until I read the scary thread
"The fit and finish on these cars is GARBAGE!" here on TMC. Can I reject it even if they deliver it here, about 30 miles from the service center?
2. MA is virtually shut down, so the car will likely just sit around for perhaps months. My 2002 Acura RSX-S and wife's 2015 Volvo XC-60 are still fine, so I am under no pressure to get a new car. We are retired, so don't commute anymore.
3. Tesla has been very poor regarding answering my technical questions, many of which were answered elsewhere here on TMC.. I am still waiting for official answers.
On the other hand, the Freemont Factory is rightfully producing ventilators, not cars, so it may be quite some time before another blue M3P is available.
Any observations, comments, or advice will be much appreciated.
1. Fit and finish. There has been a lot of bad news in the past, but I thought quality was improving until I read the scary thread
"The fit and finish on these cars is GARBAGE!" here on TMC. Can I reject it even if they deliver it here, about 30 miles from the service center?
2. MA is virtually shut down, so the car will likely just sit around for perhaps months. My 2002 Acura RSX-S and wife's 2015 Volvo XC-60 are still fine, so I am under no pressure to get a new car. We are retired, so don't commute anymore.
3. Tesla has been very poor regarding answering my technical questions, many of which were answered elsewhere here on TMC.. I am still waiting for official answers.
On the other hand, the Freemont Factory is rightfully producing ventilators, not cars, so it may be quite some time before another blue M3P is available.
Any observations, comments, or advice will be much appreciated.
Fit and finish is all down to personal perception I think.
That thread seemed to be full of people who would pull out a thermometer at a restaurant and if their steak wasn’t the exact temperature they asked for they would send it back.
sure there are some things that you turn the car away for or ask to be corrected but essentially, we all purchased these cars knowing that there could be some slight issues with fit and finish and the paint may not be the best.
mine came out great maybe one slight panel misalignment. I had my car front end covered with PPF and the whole car ceramic coated so they do a 2 stage paint correction when they do it (even on the new cars). They said the paint looked great and after the correction looked even better.
It’s really down to what your expectations are. My SA was also great and said if I find any issues later to just let him know and we’d get it sorted.
Best of luck with it.
That thread seemed to be full of people who would pull out a thermometer at a restaurant and if their steak wasn’t the exact temperature they asked for they would send it back.
sure there are some things that you turn the car away for or ask to be corrected but essentially, we all purchased these cars knowing that there could be some slight issues with fit and finish and the paint may not be the best.
mine came out great maybe one slight panel misalignment. I had my car front end covered with PPF and the whole car ceramic coated so they do a 2 stage paint correction when they do it (even on the new cars). They said the paint looked great and after the correction looked even better.
It’s really down to what your expectations are. My SA was also great and said if I find any issues later to just let him know and we’d get it sorted.
Best of luck with it.
AlanSqB
Dog Chauffeur
I found a few blemishes in the paint* on my 712*** delivery from last week. I’m not going to sweat it. Too much fun to drive.
If you get a dud, you have 7 days to return. It sounds like you’re not doing a trade and you don’t need a car so you’re in the perfect position.
*To be fair I think the blemishes are in the clear coat but I’m not an expert.
If you get a dud, you have 7 days to return. It sounds like you’re not doing a trade and you don’t need a car so you’re in the perfect position.
*To be fair I think the blemishes are in the clear coat but I’m not an expert.
Chrismahoney23's vehicle is one that had virtually no issues. Two of my friends' M3's are the same way. I believe that the statement "That thread seemed to be full of people who would pull out a thermometer at a restaurant and if their steak wasn’t the exact temperature they asked for they would send it back." is far from accurate. All I expect is a car whose fit and finish is equal to most other cars....cars at a $30,000 price point. I'll call it industry standard. One doesn't need a thermometer or a microscope....the panel gaps, etc. are visible to the naked eye. Also, these complaints are not outliers, but rather too common. I thought that Tesla was through these issues after 2018. Clearly they are not. As I have said before, they can fix these issues. The cheapest way and best way to do so is on the production line. I am not sure why they don't.
I would suspect it comes down to simple economics. They already easily sell everything they produce and they're under pressure to increase production volume. So they are under even more pressure from Wall Street to ramp up production than they are to increase quality. When there is serious competition in this space, my guess is that the microscope will be more focused on quality.
Is it a little annoying? I guess. But I'm not going to lose any sleep over a panel gap and I have the ability to just fix it myself if I so choose.
Best,
ElectricIAC
Devil’s Advocate
Inventory counts right now tell me they aren’t selling.
The fact that you and a couple others are opining on "excess" inventory when the number is in the low single digit thousands during one of the worst economic shocks in history, speaks volumes about how popular they are. Those units are likely to be gone without any incentives whatsoever. Then new customers will have to deal with a long-ish wait to get product once things return to normal.
Best,
^ Seriously? Inventory has done nothing but rise since start of 2020, well before market turmoil.
ElectricIAC
Devil’s Advocate
You forget that I’m in the auto business (part time at least), and as such do maintain contacts within various manufacturers. Forget what you see on EV CPO or Lasse. The real number of cars that is being shipped out, currently in transit, or sitting at service centers FAR exceeds that and considering the end of quarter is just around the corner that tells the real story.
Sure it may not be a 60 or 90 day supply of cars in normal conditions like some manufacturers may be looking at but then again Tesla isn’t your average car builder and isn’t everyone’s cup of tea. There’s fear and uncertainty out there and it’s not going to end in time for pesach.
We have not seen this level of inventory since early 2019, so this is abnormal for Tesla. It may not be a big deal for Toyota to have thousands of cars in inventory, but Tesla only produced around 360,000 cars last year. They are not set up to have any inventory. The last time they had this much inventory we saw three price drops within 2 months, beginning in February and continuing through end of March.
That is when I bought my car. And the price I paid was thousands lower than the December price, even factoring in the reduced rebate.
I guess we will know which analysis is correct in the coming weeks. I'll go "on record" saying I don't expect to see any discounting going on. We'll see.
Best,
ElectricIAC
Devil’s Advocate
I don’t expect a public announcement or push. But silently: demos, showroom models, returned and rejected delivery cars already are and will be seeing healthy adjustments to get them moved.
The rest? ....recovery will dictate that but even if this mishegas were to end in the next week I don’t expect things to be back to business as usual until beginning of Q3 at the soonest.
I have seriously considered canceling order, but have ended up proceeding (although one failed delivery so far due to problems that were a lot worse than a lightly overly cooked steak!). The whole economy is awful and will clearly be the worst period in generations, with surely job losses all the way up starting from the non-salaried bottom. But if unemployment happens, this car will be just a small part of a much bigger problem.
I am however annoyed that I can’t sell my current car as it seems there are very few buyers out there at the moment. I’ve heard of people getting CarMax valuations that are dropping my 10% in just the last week or two. Really don’t want to be stuck with the extra car for long... “car owner virus”!
I am however annoyed that I can’t sell my current car as it seems there are very few buyers out there at the moment. I’ve heard of people getting CarMax valuations that are dropping my 10% in just the last week or two. Really don’t want to be stuck with the extra car for long... “car owner virus”!
ElectricIAC
Devil’s Advocate
Yep. Had a client yesterday with a trade-in that if he’d not sold it with written offer from one week prior would have dropped about 20% actually. My partner dealer already had the updated pricing and would have actually offered 10% more than new valuation.
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