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Crazy low residuals?
- Thread starter pdk42
- Start date
PITA
Model 3 Performance
Yeah, I'm a private buyer as well... in December 2022 we bought a Skoda Enyaq VRS Coupe Maxx Package. Cost £60k and still waiting for it to arrive.
That'll be a kick in the b......cks as well most likely.
Oh well...
Rooster6655
Active Member
I don't see the used market getting any better for the next 2 years, now anyone selling a 1-2 year old model has to compete with Tesla reducing the pricing on new models. As you can get a new model for £47k (even if temporary) then getting £42k for a year old one is a decent deal IMO, I can't see how the price would go up much higher now that Tesla has been selling the car at £47k as people would just go for the new one, having spoken to many dealers they were reluctant before the recent price discounts so £42k is a bargain! Be interested to know the WBAC price also!
The depreciation cost means there's zero chance of me buying Tesla again. Makes me wonder how many new customers they're going to be able to attract. Probably the same idiots who believe FSD is a thing.
I wouldn’t touch Tesla ever again. They are nuts. Wonder what business there is long term, burning their current customers. Certainly cult of Tesla doesn’t seem like a thing any more. Never owned a car no main dealer for any manufacturer will part ex. They point blank refuse to take them. Baffled people are still buying as a private purchase.
No idea who told you that. I was recently shopping around and Audi, BMW and Merc dealers all gave me a trade in offer on my MY. No hesitation at all.
Utumno
2 x Model Y LR (2022 Q2 & 2023 Q3)
PITA
Model 3 Performance
Here's the latest squeeze... Insurance Renewals
www.theguardian.com
UK drivers complain as car insurance renewal costs rise up to 70%
Latest financial pain in cost of living crisis comes from steep price increases for motor cover
www.theguardian.com
Jason71
Well-Known Member
I have just had my renewal. Was bracing myself but its gone up from £530 to £585 (Admiral). Obviously still a 10% increase but a lot less than I was expecting based on others experiences.Here's the latest squeeze... Insurance Renewals
UK drivers complain as car insurance renewal costs rise up to 70%
Latest financial pain in cost of living crisis comes from steep price increases for motor cover
pharwood
Member
Rooster6655
Active Member
Yes I can believe it before their latest price reductions the dealers were reluctant at giving decent prices due to worrying about pricing fluctuations, I expect they can either give you a low ball figure or flat out refuse if they aren't interested, from tracking Autotrader another reason might be the amount of used Model Ys for sale increasing by about 50% in the past 6 weeks so they don't want to get stuck with the stock
It's strange because main dealers (like Tesla) do not even sell the part-ex cars unless it's highly desirable or the same brand and nearly new. The cars go straight to auction, and they have an online portal that provides the market rate. BMW were completely transparent and showed me the price. It was slightly better than webuyanycar surprisingly. In the end, we bought another Tesla, from Tesla, who (unsurprisingly) gave us the best part-ex rate. This was all 4 weeks ago.
I didn't get to 10 dealers, but 4 dealers (inc Tesla) all gave me a PEX price on the spot. It must be to do with the location you're in. No desire for EVs or market flooded.
MrBadger
Badger out
Spoke with a dealer a few weeks back who wouldn’t take any EV as pex unless it was their own brand, and even then I got the impression that they would be a bit picky.
Jason71
Well-Known Member
I still think that when the the tabloids move on from the negative press, energy prices settle. and the market stabilises the fact that they are some of the best EV's around means there will be a good market long term once the general public warms to them. so in 3+years when I come to sell mine I am expecting to get a "normal" level of depreciation for it. My last Tesla had 8% depreciation over 3 years which is as crazy the other way as the falls in prices are now. I won on that one. those who bought later and now need to sell are suffering the flip side which is obviously very upsetting for them but long term I see no reason why it will not settle down.
Edit: on the other had its a great time to buy a used EV!
Edit: on the other had its a great time to buy a used EV!
