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Depreciation

Discussion in 'Roadster' started by eledille, Sep 24, 2010.

  1. eledille

    eledille TMS 85 owner :)

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    #1 eledille, Sep 24, 2010
    Last edited: Sep 24, 2010
    I just read here somewhere that the Roadster is among the slowest depreciating sports cars according to some magazine's list, but I can't find it.

    What magazine? Any more details, anybody?

    We recently had a 1h20m test drive - both loved the car, but wife thinks it's too expensive and impractical. I'm trying to talk her into it anyway. Depreciation rate is a very important point - we can afford it, but will have to sell it to get a Model S, so we need to get a good price for the Roadster. I'd love to find some authoritative data backing my view that the Roadster depreciates slowly...

    Ah, found it - the Tesla newsletter. Road&Track lists it among the best, without giving any specific data. The other models mentioned are Chevrolet Corvette Grand Sport, Audi S5, Nissan GT-R, Jaguar XK and Porche 911 Carrera.

    http://www.roadandtrack.com/special-feature/sports-cars-with-the-best-resale-value/
     
  2. Tdave

    Tdave Member

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    That article doesn't provide any numbers or percent of depreciation after a certain number of years. Of those they list, I have no doubt the Tesla holds its value the best. Here in the States, used ones are going for, what, about 10% under the new price (once you take into account the $7500 tax break that only the new buyer gets)?

    Thanks for starting this thread. I'd like to see hard numbers.

    Once Tesla stops making the Roadster a year from now, and no one is able to buy a new one anymore, I expect the price to stabilize, or even increase.
     
  3. tomsax

    tomsax Member

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    Buy a Roadster because it's the best driving experience money can buy. Buy a Roadster because you want to support Tesla Motors and how they are changing the auto industry by example. Buy a Roadster to make a statement about how EVs switch us from foreign oil to locally-produced energy without sacrificing style or performance.

    But, your wife is right, the Roadster is expensive and impractical. You're kidding yourself if you're trying to argue that buying a Roadster makes financial sense. Your inner child will never be able to dissuade your wife from reality.

    (Buying our Roadster was originally Cathy's idea, BTW.)

    If you want a sensible EV plan while waiting for Model S, buy a Nissan Leaf. If Model S arrives as expected in 2012, the Leaf will still have most of its 8-year/100,000-mile warranty left and you'll be looking at depreciation on a $32,700 car that only cost you $25,200. You'll also probably get a big upgrade in driving experience going from the Leaf to the Model S, instead of having to trade down from a Roadster. (But you were thinking you'd have two years to find a way to convince your wife to keep the Roadster, weren't you? Even I saw that one coming. :smile:)
     
  4. mpt

    mpt Electrics are back

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    LOL :)

    eledille: Have you considered a 2nd hand Roadster; sure you don't get the $7,500 tax credit but the initial and depreciation are lower.

    And, should it come to pass that in searching for the right one it gets tiring and simply buying a brand new fully loaded sport with carbon everything seems easier, well, rest easy.

    Polotics: Today I said goodbye to my last gasser; I sold my wife's Autobahn bruiser; "I loved that car and now all I have to drive around in is a science experiment {MINI E}... I want a Model S" she sulked, "There there, let's see what we can do" I said giving her a reassuring hug and hoping she couldn't see my reflection grinning ear-to-ear.


    ps: She loves the science experiment btw
     
  5. eledille

    eledille TMS 85 owner :)

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    #5 eledille, Sep 26, 2010
    Last edited: Sep 26, 2010
    SSSSHH! She might read this, you know :)

    But things are a little different here - the Roadster is such a bargain! A new Porche Carrera 4S costs USD 290,000, almost all of which is tax.

    So the Roadster is expensive, impractical, the most desirable car in existence (to me) and within reach! It's not much more impractical than our current 2-seater Think anyway, and I don't want a Porche... I have no illusions that a Roadster would make financial sense, the big question is how expensive it would be.

    She loved the car, I know she wants it. She smiled ear-to-ear as she put the pedal to the metal several times on the highway. She's sufficiently tempted that she's talking about practicalities like the possibility of charging it at work. But if it depreciates a lot, she's probably too sensible to buy it.

    Woohoo! Congratulations :)

    Yes, that's exactly what I'm thinking of. But it's hard to find out what would be a fair price. People want so much for them you might as well (almost, anyway) buy a new one, and the same cars are advertised again and again. So either they really are asking too much, in which case I'd be a fool to buy, or the Roadster almost does not depreciate at all, in which case it wouldn't hurt so badly financially to own one.
     
  6. DrTaras

    DrTaras R254->R725->S1364-->X769

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    It was my wife's idea as well, way back in 2006 when she handed me the article... I ran with it ever since!
     
  7. vfx

    vfx Well-Known Member

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    Mine told me to get it to shut me up!
     
  8. Jaff

    Jaff Active Member

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    Same here...my wife got tired of the ol' whine & cheese routine...:biggrin::wink:

     
  9. eledille

    eledille TMS 85 owner :)

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    #236 was sold on Ebay for $79500, but the buyer's financing fell through, so it was relisted. First registered March 13. 2009.

    5819 miles, hard top, electronics group, sound reduction kit supposedly worth 3000, back up camera, adjustable suspension, high power mobile charger.
     
  10. strider

    strider Active Member

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    Hey everyone. New to the site - just discovered it yesterday. I am in a similar boat to eledille. I currently drive a 2006 Corvette but a role change at work now requires me to commute San Mateo to Sunnyvale every day during rush hour. The allure of the white sticker has pushed me into looking at EVs (previously wife and I had talked about getting on but thought we should wait until we bought a house and installed PV cells). I don't quite get the value of the Roadster (at $80k I would have bought one years ago but $110k is across a mental line I have) and we looked a Leaf but my wife was like, "You can't go from your car to that little boxy thing - you'll hate it.". So I had resigned myself to taking the train when I happened upon some pictures of the Model S. Wife green-lighted it immediately.

    Then I was poking around on this and the corp website and learned about the "lease a Roadster until your Model S arrives" promotion. Wife was cool w/ that so I'm headed to Menlo Park tomorrow to go for a test drive and check it all out.

    That being said when I was digging here someone posted the total cost of a 3 year lease and I swore they calculated it out to ~$115k. So now I'm wondering if it would be cheaper to just buy a Roadster and then sell it when the Model S arrives? I have a bunch of number crunching to do but it's encouraging that the Roadsters are holding their value well.

    Anyway, just wanted to say hi. Hopefully I'll be a member of the cult soon.
     
  11. dsm363

    dsm363 Roadster + Sig Model S

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    Welcome strider!
    The 'lease a Roadster until your Model S arrives' program ended last month so you'd have to do a 3 year lease like you said. I went through the same calculations you did and thought for me at least, buying was the way to go. You get the $7,500 tax credit and can pick out exactly what you want (and get the 2.5 model as well). At this point, I think buying might be the way to go but everyone's situation is different of course. You would then have to go through the trouble of selling it when your Model S came but it looks like people have been able to sell them without too much trouble.
     
  12. lontok

    lontok Member

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    Strider, my wife made the same point if I were to move from a Porsche to a Leaf ... she was easily sold on the Roadster. I took advantage of the "lease a Roadster until your Model S arrives" but also considered buying the car. If you were to buy, you would need to put down 20% but if you do lease, you can still get the $7.5k federal tax credit at the end of the lease for the option to buy. Since you're in California, you also get the $5k CARB rebate, regardless if you lease or buy.

    If they are still available, I highly recommend considering the heavily discounted demo 2.0 Roadsters. One member here was able to work out a deal to get the Roadster 2.5 front and rear bumpers installed. Hope you are a member of the cult soon ...
     
  13. strider

    strider Active Member

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    Thanks for the welcome everyone.

    Looks like the special lease deal is still going: http://www.teslamotors.com/own/financing
    "Special term leasing is available for Model S reservation holders."

    If it's cheaper to buy I can do that - just have to run the numbers first. Though it will take some more convincing for the wife I think (she'll assume I'm scheming to keep the Roadster after buying the S). Also I think for the $5k Cali credit you have to own it for 3 years - not sure if you get the credit up front and have to pay it back if you don't keep it that long or if you have to wait for 3 years.

    I'll ask if they have any demos left over. Would be nice to not have to wait 3 months :)
     

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