What tradition is this?The EV market had the biggest spike and traditionally EVs are supposed to depreciate 50% over 3 years.
Teslas have always had strong resale prices versus their competitors.
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What tradition is this?The EV market had the biggest spike and traditionally EVs are supposed to depreciate 50% over 3 years.
What tradition is this?
Teslas have always had strong resale prices versus their competitors.
Maybe he’s talking about Chevy Bolt/VoltWhat tradition is this?
Teslas have always had strong resale prices versus their competitors.
I don't think this was ever the case. I've seen some charts comparing the resale value of the Model S to comparable luxury cars and it was much higher. This was prior to the current craze.Model 3s have, and model Ys have, but model S and X, prior to this crazy market, had the traditional "luxury car" depreciation of 50% ish in 3 years. Every other EV other than tesla model 3s and Ys depreciated that much as well, or more. Model 3s and Ys didnt though.
Very few Tesla's will quality for that used credit, especially if people are trying to get top dollar. You have to have a selling price under $25k to qualify.A lot of Ev buyers waiting for the 2023 rebates - even used teslas can have up to $4000 rebate - I don’t expect to see any price reduction but one - somehow they have to model 3 - long range under $55k to qualify for possible 2023 tax savings
Checked trade-in value on my MYLR about 2 months ago and the highest offer I got was at $72k. Checked again at many places and they range from $53k to $61k now. Pretty dramatic drop.
@voltaren do you have recent MMR data for MYLR?
haha I'm not debating the legitimacy of prices at all. I think everyone knows this is unsustainable and crazy but it is a real drop/reduction in the trade-in offer value.Considering that a brand new one RIGHT NOW has a base price of 65,660 (before destination) this is not a "drop" but a proper correction. A world in which a used vehicle cost more than a new one of the exact same vehicle is both unsustainable, and silly.
haha I'm not debating the legitimacy of prices at all. I think everyone knows this is unsustainable and crazy but it is a real drop/reduction in the trade-in offer value.
No matter what you think about the insanity of the market, if I had accepted an offer 2 months ago, I would have received $10k+ more in value.
Agreed re: timing the market. However, there are a lot of reasons why people may keep an eye on their trade-in value like your job being converted to WFH, a change in driving habits, an upcoming move, etc. All of life is speculation to some degree.Trying to "time the market" (any market) is usually a recipe for getting burned. Especially when "the market" we are talking about is trying to flip a brand new car, that is a "regular" car and not some sort of collectors item type vehicle.
The fact that people felt compelled to get valuations on their brand new car they just bought, or the fact that people feel compelled to try to sell their "locked in reservation" for X,XXX is going to end up being another in a long line of "this is why we cant have nice things" with the "nice things" in this case being "price locked in when ordered".
Thousands of dollars of upside with only a trivial downside of losing your order fee if the market changes and you cancel the order. It's not that irrational to expect people to try to make some $.
Yea, some people like to feel aggrieved no matter what. The fact that Tesla lets you lock in your price when you order is already more generous than almost every other car manufacturer/dealer. That takes one factor out of the risk equation but you can't control where the market might go for trade-in values/resell prices. People should understand that but they don't always act like it.Right, which is why I said this is going to end up being another one of those "why we cant have nice things" situation (and a whole lot of angst from people about "how can tesla DO THIS?!?!?! I locked in my price XXXX time ago, why do I have to pay todays price?!?!?!?" etc.)
Totally. I really wish Tesla had cracked down hard on the reservation thing. Like only register the car in the name of the account when the reservation was originally placed etc. I think we might also see low cost orders or refundable orders go away because of that too.Trying to "time the market" (any market) is usually a recipe for getting burned. Especially when "the market" we are talking about is trying to flip a brand new car, that is a "regular" car and not some sort of collectors item type vehicle.
The fact that people felt compelled to get valuations on their brand new car they just bought, or the fact that people feel compelled to try to sell their "locked in reservation" for X,XXX is going to end up being another in a long line of "this is why we cant have nice things" with the "nice things" in this case being "price locked in when ordered".