Buy My Brand New 2018 Model X 100D

[rsocal]

Hey,

I'm selling my 2018 Model X 100D. It's pretty new, I bought it late-March of this year. It barely has any miles on it: 2453 to be exact. It's a beautiful car. Metallic silver exterior, Cream Premium interior and Enhanced Autopilot. Sticker price was $106,500. Haven't really driven it much; only back and forth from work, and went skiing a couple of times. It even comes with a cheesy carbon dioxide-related vanity plate (you can choose not to keep that if you wish ).

Why am I selling it, you may ask? A couple of weeks ago my valet at work just baaaarely scuffed the side of the car while parking. That sucked. I took it to a luxury car body shop here in LA recommended by Tesla, and got it fixed. It was barely anything - you can't notice it now if you used a microscope. Just thought I'd mention it for honesty's sake. Anyway, that whole ordeal made me realized how much having a car this expensive stressed me out. I like cars, but I also don't want to worry about beating it up every now and then. Oh well, my loss, your win. So I'm in the early stages of seeing if I want to sell it, and just putting feelers out there.

To get to the final price I'm assuming a 20% first-year depreciation. Since it's been 5 months, that brings it to 97,625. Now obviously the biggest chunk of depreciation happens as soon as you drive it off the lot, so let's round it down to 95k. That kind-of matches to what's selling around here on Cars.com and Autotrader. Tesla's used inventory is ridiculous and is selling a 2016 X 90D with 15k miles for 99,500.

I haven't had time to take more pictures of the interior yet, but will do so soon. I'll also post more detailed pictures near the area that had the damage.

In summary:

• 2018 Model X 100D
• 2500 miles
• VIN: 5YJXCDE28JF091643
• Location: Los Angeles
• Options: Metallic silver exterior, Cream Premium interior, Enhanced Autopilot.
• $95,000

 

[rsocal]

Whoops, brain-fart. It's obviously BLACK premium, not cream.

 

[FlatSix911]

Hey,

I'm selling my 2018 Model X 100D. It's pretty new, I bought it late-March of this year. It barely has any miles on it: 2453 to be exact. It's a beautiful car. Metallic silver exterior, Cream Premium interior and Enhanced Autopilot. Sticker price was $106,500. Haven't really driven it much; only back and forth from work, and went skiing a couple of times. It even comes with a cheesy carbon dioxide-related vanity plate (you can choose not to keep that if you wish ).

Why am I selling it, you may ask? A couple of weeks ago my valet at work just baaaarely scuffed the side of the car while parking. That sucked. I took it to a luxury car body shop here in LA recommended by Tesla, and got it fixed. It was barely anything - you can't notice it now if you used a microscope. Just thought I'd mention it for honesty's sake. Anyway, that whole ordeal made me realized how much having a car this expensive stressed me out. I like cars, but I also don't want to worry about beating it up every now and then. Oh well, my loss, your win. So I'm in the early stages of seeing if I want to sell it, and just putting feelers out there.

To get to the final price I'm assuming a 20% first-year depreciation. Since it's been 5 months, that brings it to 97,625. Now obviously the biggest chunk of depreciation happens as soon as you drive it off the lot, so let's round it down to 95k. That kind-of matches to what's selling around here on Cars.com and Autotrader. Tesla's used inventory is ridiculous and is selling a 2016 X 90D with 15k miles for 99,500.

I haven't had time to take more pictures of the interior yet, but will do so soon. I'll also post more detailed pictures near the area that had the damage.

In summary:

• 2018 Model X 100D
• 2500 miles
• VIN: 5YJXCDE28JF091643
• Location: Los Angeles
• Options: Metallic silver exterior, Cream Premium interior, Enhanced Autopilot.
• $95,000

View attachment 326400 View attachment 326401 View attachment 326402 View attachment 326403

Your car depreciated 10% as soon as you drove it off the lot... then 15-25% per year thereafter

Car Depreciation: 5 Things to Consider | CARFAX

 

[P85_DA]

@KCapital

 

[S4WRXTTCS]

Personally I'd wait until at least the end of the year.

Right now it's likely 10% + $7500 tax credit or somewhere around there. Which is pretty close to the pricing you have.

But, at the end of the year the tax credit drops in half. I don't know about you, but $3250 is a good amount of money.

You do bring up a good point in that cars need to be designed in a way that they can take a light amount of abuse without worrying about it.

I don't think price is really the big factor. I think it's more about not wanting to mess it up.

If you enjoy the vehicle then I don't think you should sell it. I think you just have to accept the fact that slip ups happen, and it will get a few battle scars. It's perfectly normal no matter the price of the vehicle.

From a pure monetary value you're taking a bigger hit now as a result of this "episode" than you would if you held onto the car.

I say this as someone who got rid of a car because of something similar so I do get where you're coming from. I was mad at a Range Rover Sport I had because the interior was too weak. Like I couldn't just make a tiny mistake without it scratching. I felt like I had to have kid gloves not to mess up it's delicate surfaces.

I also say this as someone who's had a few "oops" moments with my Tesla. But, even with those very minor things its a very beautiful car after 3+ years, and the next buyer likely won't notice any of them because they're so tiny.

 

[gavine]

Your car depreciated 10% as soon as you drove it off the lot... then 15-25% per year thereafter

Car Depreciation: 5 Things to Consider | CARFAX

And that will pay for a lot of cosmetic repairs. I would be more stressed about the early resale hit than a few scratches. In reality, those scratches that stress you out so much won’t affect the ultimate resale price down the road either. And, if having them bothers you, continue getting them fixed. Still a cheaper proposition.

 

[P85_DA]

OP since u took to body shop did they report so now shows on car fax ?

 

[xyeahtony]

i honestly would buy this car but i wanted white interior sigh. 75D it is! haha

 

[Zorg]

New car with PUP is $109k less $10k of incentives in CA: $99k. Gonna be a tough sale.

 

[KCapital]

@KCapital

Sticker Price: $106.5K
Federal Tax Credit: -7.5K

Net Cost: $99K (net new price)

let's do depreciation:
First Year depreciation: 20% (Out the door: 5%, plus 1.25% for each month and upto 1K miles)

Total 6 month depreciation: 5% + 6x1.25% = 12.5%

Fair market value: $99K - 12.5% = $86,625.00

Positive: (+$1500)

• Low mileage for 6-month usage/depreciation

Negatives: (-$6,000)

• You may have to give credit for loss of value due to reported damage from the accident.
• You have selected the least preferred interior option (5 seat config vs popular 6/7 seat config) that will have the negative impact as buyers in this price range generally look for 6/7 seat configuration.
• Silver is least popular color for Model X
• Lose of Unlimited Supercharging

Anything above $82K is a good deal for the seller.

GLWS

 

[rsocal]

You all make very good points, especially S4WRXTTCS.

Regarding tax credits, you're right, I should definitely be taking that into account. However, I won't take into account CA's tax credit since there's an income cutoff that I doubt a lot of people would be under. And regarding @KCapital's point about the interior seating: I agree. Except, that's already priced in! I.e., if someone wants the other seat configs, they'd have to pay an extra $Xk*depreciation factor to someone selling the same car with the seating configurations they want. In order words, it's not like I got the 6/7 configuration, then somehow sold those extra seats, and am trying to sell the car priced as a 5 seat config (which is what your calculation implies ).

Therefore, I've readjusted my price to take into account the federal tax credit, slightly time-discounted.

• New price: $90,000

 

[azsmartbet]

Is there no Prem Upgrade pack?

I would buy at 83500

 

[KSilver2000]

Is there no Prem Upgrade pack?

I would like to know this as well.
And what exactly was fixed?

 

[FlatSix911]

The truth... $82K max

Sticker Price: $106.5K
Federal Tax Credit: -7.5K
Net Cost: $99K (net new price)
First Year depreciation: 20% (Out the door: 5%, plus 1.25% for each month) Total 6 month depreciation: 5% + 6x1.25% = 12.5%
Fair market value: $99K - 12.5% = $86,625.00
Positive: (+$1500)
Negatives: (-$6,000)
Anything above $82K is a good deal for the seller. GLWS

 

[buttershrimp]

Where in Nigeria shall I wire the funds? Also, what is it like being a prince?

 

[luvnMyTS]

Pretty much every Tesla instantly loses $10,000 when you buy it, due to the typical tax credits that anyone would get by buying new. Then you have an instant 10% depreciation for driving it off the lot. Tesla, in the first year, basically deducts $1.00 per mile. If you were to trade it in, Tesla would knock off another 15% for "refurbishing, inspections, etc" to make it a CPO. So, my guess is that, on a trade, Tesla would offer you 75% of what you paid for it, less $2,453 for the mileage. 75% of MSRP at $106,500 = $79,875, less $2,453 = $77,422 is what your likely trade in value is.

Add 10% for private party and the likely True Value, not what people list them for in the classifieds or on E-bay, but what they actually sell for, is probably around $85,000.

Someone could go buy a new one for $106,500, get $10,000 in tax credits/rebates to bring it down to $96,500. Most buyers would expect at least a 10% discount for buying a used car with mileage on it over the prestige of buying a brand new car that only they've driven. While Tesla charges $1.00 per mile in their trade estimates, typical market value for miles is $0.25 per mile, so you have only a $613 deduction. Based on this math, the "high" value for your car is $96,500 x 90% = $86,850, less $613 = $86,237.

Either way, realistic value you can expect to get for the car is $85,000 to $86,000.

Also, keep in mind that Tesla has new inventory cars available as well. They typically come with a $3,000 to $4,000 discount. So a $106,500 car likely sells for $102,500 and they're still sold as new, so they're eligible for all the tax credits, bringing the net price down to $92,500. So a used car, that's now 5 months old is only being discounted about $6,500 to $7,500.

That's actually pretty good when you consider what most cars sell for after they drive it off the lot.

Given, all of this will change as the tax credits are phased out. But, we're not there yet, so this is what we're dealing with today. Personally, I think once the tax credits are phased out, Tesla (and all EV makers) will have to reduce their prices to keep sales volume up. It's pretty well known that while the government offers around $10,000 back to the buyer, the one's truly benefiting are the manufacturers. They are simply pricing their cars higher, then advertising the "net price after credits" to lure people into thinking it's cheaper. Tesla still does this today, as do most other manufacturers. So that likely won't change the used car market. But, if I'm way off and all EV manufacturers can maintain sales volume at the same prices they're charging now, then that would actually increase the value of used cars as that $10,000 would no longer be a factor to consider when deciding whether to buy new or used.

 

[CA_MD]

I’m not sure you should deduct the federal tax credit. If you do, then you should add sales tax to the starting MSRP because that was the true dollar amount/ acquisition cost originally paid.

My 2 cents.

 

[RedMS]

Note to self: don’t try to list a car on TMC

 

[Zorg]

I’m not sure you should deduct the federal tax credit. If you do, then you should add sales tax to the starting MSRP because that was the true dollar amount/ acquisition cost originally paid.

My 2 cents.

In CA, sales tax is charged on used cars, so the amount of sales tax originally paid is irrelevant to the used car price, other than the OP being out $10k right off the bat.

 

[CA_MD]

In CA, sales tax is charged on used cars, so the amount of sales tax originally paid is irrelevant to the used car price, other than the OP being out $10k right off the bat.

Exactly. So the original owner will try and recoup whatever acquisition costs they can. You can’t really choose to eliminate the paid tax to make the resale lower imo.

That would apply the same with the rebate. You are making the assumption that the rebate reduced acquisition cost. If you say the tax is irrelevant then you should equally say that the rebate is irrelevant and shouldn’t be included in determining a price.