CPO vs New and Autopilot?!

[mbhforum]

Hi guys,

Been cruising around the forums ever since leaving a deposit on the M3 back in April. Since them, I have been thinking more and more about purchasing a MS due to the fact, I have 2 young kids and could really use the extra room and like the way it looks better. Granted, we mostly take my wife's Pathfinder, that is more because my current 2010 BMX 328xi is so cramped, it's just uncomfortable. If I had a more comfortable car, we would be inclined to use it more (especially a Tesla). While the M3 seems to be more roomy than the 328 since they are pushing up the dashboard, I am not sure it's wise to pluck down 45-50k is wise when it can be used for a larger roomier sedan. The more I think about it, the more I want a MS.

Now on to the MS....I admit, it's a stretch for me to finally buy a brand new MS 60D, I can swing it, but deep in my heart, I know it's probably not the smartest choice, unless I save up more money. (Time is an option for me as my car has 53k miles, but I do worry about expensive BMW repairs down the road). I would consider a CPO MS and here are some questions I have for some folks:

1) I haven't bought a used car since my college days, but I am trying to treat the fact, this is an EV used car, and it's not to be treated the same as an ICE. How did some of you CPO purchasers rationalize buying a used car when you've become accustomed to buying a new car for similar money? Yes, I know it's a Tesla. Looking for more detailed thoughts on the subject.

2) Part of me really wants to purchase a new S60D for AP 2.0. However, I wanted to see if there are any folks from Long Island, NY here and how they have managed with AP 1.0? My daily work commute is 30 miles round trip (almost all highway). I might end up working a couple of days in the city soon, so I will be driving 5 minutes to the train station on those days. I am ok giving up the Full Self Driving as I can't see that being legal in NY for a very long time since NY is typically a very conservative state with those kinds of things). I don't really take long road trips but with my kids getting older, I might want to in the near future. Other than the obvious AP 2.0/FSD, anything really I would be sacrificing if I try and get a 2014/2015 model?

Feedback is appreciated. I look forward to being part of the club!

 

[mbhforum]

Also wanted to add, that yes, buying a CPO will save me from immediate depreciation, I also fail to take advantage of the $7500 tax credit which softens it somewhat, along with spending 2k on transportation fees of a CPO. It seems there are very few CPO 70D AWD Tesla's that are under 70k, so it seems the differences between a new and CPO AWD AP1.0 model is only going to be 5-7k, although with the CPO model, I will get more options like Premium Package. If I were to buy new, I'd be around 82k (Metallic Paint, EAP, Subzero Package and Leather Seats). I would skip the FSD, High Fidelity, Pano/Glass and Premium packages.

I've also scheduled my first test drive of the Model S this Friday, and I know that is probably going to get me more amped. I also having an electrician coming to make sure I can install an outlet in my garage.

 

[No2DinosaurFuel]

Check out the inventory bin. Ask your representative at a tesla gallery. They will have a lost of inventory vehicles that will most likely have more of the options for similar price as am un-optioned vehicles. Also factor in the referral code that is another grand off of inventory car.

 

[mbhforum]

Check out the inventory bin. Ask your representative at a tesla gallery. They will have a lost of inventory vehicles that will most likely have more of the options for similar price as am un-optioned vehicles. Also factor in the referral code that is another grand off of inventory car.

Thanks. From what I've seen the inventory models are priced similar to ordering a new car from scratch. Am I incorrect?

 

[No2DinosaurFuel]

Thanks. From what I've seen the inventory models are priced similar to ordering a new car from scratch. Am I incorrect?

From what I have seen, they are typically similar price to cars without options. One example would be say a 75D speced on the website without options goes for $90K bear bones. You might find a well-optioned inventory 75D with low mileage for the same $90K. Now if you speced the same inventory car on the website, it might come out to $100K.

 

[Manzacoty]

For me it all came down to affordability. If you can pick up a MS P100D without batting an eye. Do it. While I could afford a new MS I would definitely feel it and didn't want my expensive toys to get in the way of family obligations.

I bought a used 2013 with 85k miles. No ESA service so everything will be out of pocket. I'm totally fine with that - outside of the DU and the battery (which are covered under a different warranty) what could go wrong isn't relatively that expensive. I just put money in reserves for when/if something happens. The originally owner paid $60k more than what I paid so I feel that gives me some room for any repairs.

To sum up - go for it - I would even consider non CPO. You won't have the piece of mind but you could also shave $5k-10k off the price.

Good luck - I have 0 regrets. I'm trying to talk the wife into getting rid of the Tahoe for another MS.

 

[No2DinosaurFuel]

Just to note if you are going the CPO route or the used car route. I would test drive the new recent cars before checking out the CPOs. This way you know if you are OK with the feature difference. New MS are vastly different from the 2012-2014 MS. Check out my other thread comparing the old and new.
Comparison of old MS to the new

 

[mbhforum]

Just to note if you are going the CPO route or the used car route. I would test drive the new recent cars before checking out the CPOs. This way you know if you are OK with the feature difference. New MS are vastly different from the 2012-2014 MS. Check out my other thread comparing the old and new.
Comparison of old MS to the new

Thanks. I have a test drive scheduled for Friday. I have a feeling this will "escalate" things knowing my impulsive personality

 

[bharned3]

I bought a used 2013 with 85k miles. No ESA service so everything will be out of pocket. I'm totally fine with that - outside of the DU and the battery (which are covered under a different warranty) what could go wrong isn't relatively that expensive.
.

So what kind of out of pocket expenses should a future buyer expect? What type maintenance does the Tesla need?

 

[Manzacoty]

So what kind of out of pocket expenses should a future buyer expect? What type maintenance does the Tesla need?

That's a tough question. I've cruised this forum for awhile and there isn't a solid answer. I've learned the things to look out for is the delamination of the screen ($1k) and the door handles (about $1k each).

 

[Cstreet]

I went through the same process. I started looking at CPOs when the only option was a 70. Then the 60 came out and it made it easier for me to go that route plus I rented a car wth AP1 for a weekend and loved it. I leased to control my costs and as I'm in California was fine without the dual motors.

 

[CLLACAB]

With regard to purchasing a CPO, I have purchased a number of CPO vehicles and have never had any issues. I am a big believer in letting someone else taking the initial depreciation hit. Yes, I am not going to get some of the latest bells and whistles, but I am OK with that if I am saving $30K to $40K.

 

[CzTom]

To answer your first question, I bought a 2014 P85+ under the CPO program and it was the first car I've bought used in 30+ years. The factors contributing to my decision:
- I wanted a car that would give me a driving experience most like the BMW M3 I was replacing (i.e., rear drive, firm ride, handling)
- I was not interested in AP as I like to drive and don't have commute / long distance travel concerns
- The 50K CPO warranty addressed my "buying a lemon" concerns (I bought a CPO with 17K miles, so I have until 67K on the odo)
- I like buying my cars loaded, and the CPO route made a fully optioned Tesla attainable (I bought my CPO for $79K, was sold new for $125K). I used ev-cpo.com to find the exact car (P85+, under 20K miles, fully loaded less jump seats) I was looking for - took about a month of monitoring what came on and off the list.

Coming up on my 1st year with the car, I've been very happy with my decision. My local service center (Buena Park, CA) has been terrific, from the delivery process (they do CPO deliveries same as new car deliveries) to servicing the few issues I've had.
I did have several issues with the car at delivery inspection which they addressed (the car had misaligned window moldings and the wrong brake calipers (supposed to be red))... but no regrets!

 

[mbhforum]

I went through the same process. I started looking at CPOs when the only option was a 70. Then the 60 came out and it made it easier for me to go that route plus I rented a car wth AP1 for a weekend and loved it. I leased to control my costs and as I'm in California was fine without the dual motors.

There's a current CPO 85d that is 72k plus transportation costs which is really tempting that I would consider as it has all of the options I need. A new 60d minus the tax break would be about the same price. I just would have to decide if AP 2.0 with a brand new car is worth choosing over the premium package, better range and pano roof of the CPO. For now, I am just educating myself as I don't plan on making a purchase for 4-6 months. One of the advantages of not going the tax credit route is I can borrow less money up front which is a lower monthly payment and less interest.

85 kWh Model S 5YJSA1H23FF081961 | Tesla

 

[ev-now]

2015 S60 CPO with AP1 owner here. In CO. Read up on AP before you take that over range.

I had no range anxiety until I got the car - now I want to go everywhere in it but see how cold hits range. Wanted AP - in bright winter sun, and in snow, and with wet roads - it disables. See other threads for my opinions on AP1 and speculation about AP2 (everyone's opinion on AP2 is speculation at this point as nothing is enabled). If you think you want AP2 - suppress that impulse and wait until there is more feedback.

CPO over new? Let someone else take the depreciation unless you are going to be upset by the condition. Mine had 8.6K miles and looked and smelled new inside and out, 25K saving. I see others buying 49K plus cars and complaining about things you'd really expect - fit/finish, etc.

Personally I'd go CPO over secondary market if you are running close to budget. Tesla seem to test CPO owners just as well as new (not trying to wriggle out if fixes) - and I liked the peace of mind.

PM me with any questions. And use Frank's ev-cpo.com site to get exactly what you want (CPO or inventory,) well worth the money.

 

[carter_seattle]

@mbhforum I think you and I are in a similar boat. I just bought a CPO 85D, mostly based on my calculation of the "true cost" of owning a CPO versus new. Most people on this forum focus on purchase price, and when you do that new cars seem like a great deal especially after factoring in tax incentives. But you have to take into account depreciation too, if you plan on trading it in after a few years (as I do).

True cost = cost to purchase - trade in value

I put together a quick Google Spreadsheet to illustrate this point, happy to hear what others think of my logic:

Tesla New vs. CPO

 

[mbhforum]

Thanks all! I am definitely leaning towards going the CPO route after seeing some comments on here. I'd rather get a nicely loaded 85d with 8-10k miles on it than a new 60d that has a lot of promising features that might not materialize. If I do CPO route, it will be a very low mileage car because I want that new car feel and smell and it's more of a gamble with a higher mileage car. I do plan on keeping the car a long time as well which is why I want low mileage. I plan on doing a 5 or 6 year finance.

I need to decide on color I want too (midnight silver metallic or black will be one of my choices). Did they make the old dark blue in 2015 models? That is the color of my current BMW and I love it. I have not grown tired of it yet.

I also need to unload my 328xi. It's worth anywhere from 10-12k. Carmax doesn't serve my area. I will talk to Tesla this Friday when I get in a test drive to see my options there. If anyone has any advice there, I'd appreciate it. I have a friend who might want to buy it as well.

 

[bharned3]

@carter_seattle I love the spreadsheet. Nice analysis.

 

[ev-now]

I need to decide on color I want too (midnight silver metallic or black will be one of my choices). Did they make the old dark blue in 2015 models? That is the color of my current BMW and I love it. I have not grown tired of it yet.

Midnight silver is not as dark as the name might suggest - it's a great color (would say that as I have it ...) - but it's NOT a dark silver, it's more of a grey metallic with a blue flake which you see sometimes and not others. Great color, very hard to match once damaged I suspect - panel to panel - but places are better at that these days. I have found it's pretty forgiving to CO winter grime - meaning it gets dirty with style Black and white just look dirty, this gradually 'fades' under the weight of winter grime. Just my 2c.

Good luck an 85D is a proven champion as far as I am concerned - the price differential for 90/100 not worth the extra. Hope you find just the right car for you - in fact IF you can suppress that impulse, I'm sure it's out there for you!

 

[ev-now]

Midnight silver is not as dark as the name might suggest

And the online representation is simply a scam - nothing like the true color. Makes it look like an almost black, which it is not. I'd make sure you see the color when you go for your test drive.