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CPO
- Thread starter Coolguytex
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- CPO Delivery Model S Ordering Production
Tam
Well-Known Member
If I can afford it, I would buy new, not CPO. I want to do the wear and tear myself, not after some else.
With new you can buy optional extended warranty.
With CPO, you get standard warranty but you cannot buy extended warranty.
With CPO, you pay less while with new, you pay more.
With CPO, you get your car faster while with new, you got to wait for it to go through the assembly line first.
I think it depends on whether you want the latest bells and whistles and how much money you want to spend. I picked up my P85 with 19K miles for considerably less than a new one. I was more into saving money than the bells and whistles. We now have 33K miles and have had not issues. It is quiet and has performed flawlessly. I am a big proponent of the CPO route. It is how I have purchased most of my cars.
From my experience. I went with the CPO. The warranty period starts from the time you purchase. Some gotchas. Financing is different in every state. My taxes were not included in the car purchase, so when I register it, I will have to pony up for that ~3500. I got the car I wanted with the options I really wanted for the price of a base model 60. Alot depends on what you want. It took me quite some time to find what i was looking for, I could have ordered new and gotten it but I wanted the price point i am at.
Hope that helps/.
Hope that helps/.
CPO all the way. With a CPO you know exactly what you are getting. No, it's not the latest and greatest, but you get one hell of a car at a great price (usually) and the largest hit to depreciation has already occurred.
New cars are awesome if you can afford them, but there's always a dice roll with Tesla about when the next major innovation is coming, and you lose $10K in value the moment you take ownership. Plus it only goes down from there.
When it was initially built, my CPO was literally top of the line minus dual chargers. It had everything possible, and it's window sticker was priced at just under $122k. I got it for under $60k. For a car with 50,000 miles on it, it's inside looked brand new, and all the exterior problems were fixed by Tesla. It's not flawless (no car with 50k miles is) but to the untrained eye it looks like a brand new car.
I've added power folding mirrors and LTE to bring it up to as close to modern as possible except for Next Gen seats, (love 'em, but $6,500...? ouch)
Anyway, the few problems I've had have all been covered by Tesla service with smiles. (New TPMS system put in, new 12v battery, some GPS issues) and honestly the whole "build quality is better" argument doesn't hold too much water. Yes "new" might have a few less squeaks and rattles, but "new" is also tens of thousands of dollars more.
Plus....Free supercharging. (Hey, it's a bonus!)
New cars are awesome if you can afford them, but there's always a dice roll with Tesla about when the next major innovation is coming, and you lose $10K in value the moment you take ownership. Plus it only goes down from there.
When it was initially built, my CPO was literally top of the line minus dual chargers. It had everything possible, and it's window sticker was priced at just under $122k. I got it for under $60k. For a car with 50,000 miles on it, it's inside looked brand new, and all the exterior problems were fixed by Tesla. It's not flawless (no car with 50k miles is) but to the untrained eye it looks like a brand new car.
I've added power folding mirrors and LTE to bring it up to as close to modern as possible except for Next Gen seats, (love 'em, but $6,500...? ouch)
Anyway, the few problems I've had have all been covered by Tesla service with smiles. (New TPMS system put in, new 12v battery, some GPS issues) and honestly the whole "build quality is better" argument doesn't hold too much water. Yes "new" might have a few less squeaks and rattles, but "new" is also tens of thousands of dollars more.
Plus....Free supercharging. (Hey, it's a bonus!)
carter_seattle
Member
I just took delivery of a 2015 S85D CPO and couldn't be happier. Sure, I could have afforded a new car, but I feel like that would have been a terrible use of money. A car only feels "new" for so long before you end up breaking it in anyway. I'm happy to trade a few months of "new" for tens of thousands of dollars 
I just put my deposit down on CPO on 1/8 (waiting for delivery) I did it for the following reasons, my wife had objections for going over in price, and that would been for Model s 60 with everything loaded on. I tried looking at Inventory, but there where not really good deals for what i would save. I basically wanted a car with ap1, I was dealing with a cpo rep and kept on emaililng them, I had 6 months to find the right car, but said I would pull the triger for the right car. It came and I grab it. It is 85 with more range and the extras, that i would not been able afford , plus at much lower rate and 4 year warranty. Still have a few weeks to pick up.
What is delivery like on a CPO? I assume not as fancy (swag and what not) as a new car.
Do they force you to make the purchase in the state where the car currently resides? Or will the purchase occur at your local service center (so taxes can be factored into the loan)?
The ONLY way I can get into a tesla is a cheap CPO. I'm dying to make it work but want to know what I'm getting myself into first.
Do they force you to make the purchase in the state where the car currently resides? Or will the purchase occur at your local service center (so taxes can be factored into the loan)?
The ONLY way I can get into a tesla is a cheap CPO. I'm dying to make it work but want to know what I'm getting myself into first.
I picked up my CPO in Fremont. I was treated no different than the individuals who were there to pick up a new car. The only advice I would give it to inspect the car carefully. Sometimes the prep of the car is not as good as it could be. I think they are very busy and cut corners on the prep process. If you go this route, make sure you inspect the car carefully and list any items needing to be corrected on a Due Bill.
Take a look at my post history, you'll see my experience and the people I worked with at Tesla. It was fantastic. I am Texas and took delivery in Colorado, and drove it home so yes you can..
My delivery on a CPO, was better than any other car I have purchased. There was a nice swag bag, each center has different items. Taxes for me were left out. I will pay them when I register the car. You can work with your lender to do it how you want though. They offered to put the taxes into the loan, but they said it would be a second check paid to me, then I would still pay them.
What tools are you using to find your car? What are your "must haves" vs your wants? What kind of budget did you have in mind?
Some locations treat CPO deliveries just like new. Mine was in the delivery bay with my name on a card and I got a swag bag. I think your chances of getting a swag bag are higher if you make the purchase through a CPO advisor vs just ordering online (I believe they get a small commission)
They will ship the car to your closest Tesla location, however they have recently raised their shipping costs, so for cars that aren't very far away, it might be cheaper to fly in one way and drive home.
I absolutely love my CPO, and was very happy with the process. That said, you should be aware that it is very different from buying a normal car. Delivery times are often in the 6-8 week range and you are buying a used car sight unseen. Many CPOs are currently out in the loaner fleet, so sometimes when they are retrieved damage is found. I had to switch cars once due to this, and another forum member had two CPOs wrecked while he was in process of buying. Tesla is very upfront about all this when it happens and gives you the option to get your money back or switch cars. I do recommend not paying the final amount for the car until delivery day if possible (not an option in a few states like Texas), that way you have some leverage for getting last minute cosmetic issues repaired when you finally see the car in person.
Oh, and a membership to EV-CPO is invaluable. You can set up alerts for your perfect car and see historical data for how much the car you want has sold for in the past.
skitch23
Member
I echo the sentiments of the other posters... communication from Tesla staff is hit or miss, but at pick up I was treated no differently than the guy in the bay next to me who ordered a new car. I also got the typical swag bag and ordered direct online rather than thru an advisor.
One thing that caught me off guard was that my pre-approved auto loan check for $XX,XXX did not cover the full cost of the car, even tho the total out the door price was less than the full check amount. My bank (Penfed) would only approve a loan for 110% of the NADA value of the car (not the purchase price of the car). So I had to move some stuff around at the last minute to be able to cover a cash payment of ~10% of the listed price of the car (before tax & fees).
One thing that caught me off guard was that my pre-approved auto loan check for $XX,XXX did not cover the full cost of the car, even tho the total out the door price was less than the full check amount. My bank (Penfed) would only approve a loan for 110% of the NADA value of the car (not the purchase price of the car). So I had to move some stuff around at the last minute to be able to cover a cash payment of ~10% of the listed price of the car (before tax & fees).
dgpcolorado
high altitude member
You can have the car shipped from the current location to your nearest Service Center but if it is out of your region it is rather expensive ($2000 now? It has changed since I did it). Since I am a long way from the nearest Service Center — 338 miles — they delivered the car to me, at no additional charge. (I think the distance for free delivery was anything over 155 miles, but I may not remember that right and it may have changed anyway.)The downside of having it delivered is no orientation and no ability to check the car for problems first and set up a "due bill". (And no swag, of course.) The truck drivers did let me look it over for awhile. I taught myself to drive it from the manual and Tesla videos.
I suppose it depends on the state, but taxes are generally charged depending on where the car is delivered or will reside. California is an exception: they will charge sales tax even for those taking a car out-of-state, last I heard. If you want to buy a car at its current location and drive it home, check for the details on taxes and a travel permit first. But doing that is usually pretty routine for both Teslas and other cars. In my state I pay sales tax when I register the car, based on my home location, unless I already paid sales tax when I purchased the car (in that case I was credited the tax already paid). Depends on the state, I think.
FWIW.
jeepn30
Member
I have been extremely satisfied with my CPO. I have had it since the end of October, and have put 6000 miles on it already. Hardest part is waiting...it feel like an eternity (although not as long as my Model 3 reservation, as I did mine day 1). I got plenty of Tesla swag, as I got a hat, coffee mug, nice pen, umbrella. I would have taken delivery where it was in California, but that state does not offer tax reciprocity. Now we are trying to figure out how to get the Mrs. in a Tesla within the next couple years...
I got my first CPO last June - the 2013 P85+ in my signature. A few days ago, I ordered a 2013 S85 for my wife. Overall, I was happy with the process. Mine had over 50K miles on it, but still came with the 50K mile warranty. What ever will go wrong will certainly go wrong in 100K miles! Mine spent around 20K miles as a loaner, and cosmetically some of this showed. I had a pretty nasty rock chip/dent on the hood. My wife's looks as if it was just traded in. From the photos is looks great. It will be a long 4-6 week wait!
It sounds like you may have had some added costs to your vehicle, like maintenance, or a destination charge. I have a similar loan and when I saw your post I contacted my bank to make sure I'd be covered. Although my loan covers 115% of the NADA value, the entire cost would have been covered even if it was only 110%. From what the loan officer told me, it prevents the borrower from adding on a lot of extras. I've only just ordered my Model S and waiting on delivery, so if some thing changes and I experience the same issue as you I'll come back with my story.
skitch23
Member
Sadly, no I didn't. My car was for the purchase price only. Tesla even screwed up and forgot to charge me for the transport fee, otherwise that would have been another $1500 out of my checking account. The 110% is to allow for tax & fees on top of the nada value... so basically 10% buffer for tax & doc fees.
You should call your bank back and give them the VIN for the CPO you are buying and they will tell you exactly what it books at and how much they will give you for a loan for that specific car. Better to do it now rather than be surprised like me a few days before delivery.
Just got off the phone with my bank. I gave them my VIN and they confirmed, I'm able to utilize the full preapproved amount for my particular car including taxes & fees. The cool thing is the NADA value was actually within 95% of the listed price, which I thought was pretty good. Also, my loan provided for 115% of the value of the car as opposed to only 110% in your case; she actually said that technically I could write the check for about $250 above the approved loan and it'd still be accepted. I'm not quite sure what happened in your case, but I appreciate you bringing it to my attention.
skitch23
Member
Yeah I don't know either. Maybe the nada values have stabilized a bit more since Feb. Anyway, glad it worked out for you! Enjoy your new ride
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