Did I invest too much?

[fw98]

Last month I purchased a Black 2016.5 Model S 90D with 26,800 miles on it for $52,000.
The original sticker shows +5k for enhanced autopilot, +23,500 for 90kwh batter, +1500 for panoramic roof, +2500 for tan next generation seats, +3000 for premium upgrades package, +750 for ash wood décor, +2500 for UHFS package, +1k for subzero weather package, with a total vehicle price of $106,950.

Because I bought it from the original owner, the free supercharging, and premium connectivity for life transferred over. Also the car only fully charges to 277 miles (down from the published 294).

I immediately purchased the extended warranty for $4750 because the regular warranty expires 12/12/20.

I then upgraded to FSD for 5K because it came with free HW3.0.

And finally, I paid $2694 to upgraded the Infotainment system.

All in all I am in for $64443.75 (69188.75 with tax, title and registration).

So, how did I do? Should I have left it as it was at $52, or was it worthwhile throwing another $12,500 into it to upgrade it? Do you think I am now upside down in it? Will I ever recoup what I put into it?

I know I can't change it at this point, but I would like to hear what others think given that I am so new to Tesla.

Thanks for your time and opinions.

FW98

 

[whitex]

Unless you are buying rare collector cars, or are in a business of buying cars to resell right away (perhaps fix them up first), a car is never an investment, meaning you will never get more money out of the car (barring major inflation). Actually, pretty much any car you buy to drive is going to depreciate (lose value) over time, starting on the day you hand over the money and got the keys. So, stop looking at it like an investment, and stop looking whether you'll get your money back, because by the time you sell it you won't - that applies to any upgrades you make to the car too. You bought a car to drive it and enjoy it, the only question you should be asking is, is the fun of driving this car worth the money you paid? Whether or not you are upside down doesn't matter - you're not selling right now, are you? Whether or not you got a great deal or overpaid doesn't matter either - why would you care to know that, now that you've already paid the money (unless you can get a 100% refund of course, then definitely do the analysis and return the car and all the upgrades if you determine you overpaid). Enjoy your car, really, and remember for the future that car is never an investment. And perhaps next time, do such analysis before you buy the car.

 

[glide]

Last month I purchased a Black 2016.5 Model S 90D with 26,800 miles on it for $52,000.
The original sticker shows +5k for enhanced autopilot, +23,500 for 90kwh batter, +1500 for panoramic roof, +2500 for tan next generation seats, +3000 for premium upgrades package, +750 for ash wood décor, +2500 for UHFS package, +1k for subzero weather package, with a total vehicle price of $106,950.

Because I bought it from the original owner, the free supercharging, and premium connectivity for life transferred over. Also the car only fully charges to 277 miles (down from the published 294).

I immediately purchased the extended warranty for $4750 because the regular warranty expires 12/12/20.

I then upgraded to FSD for 5K because it came with free HW3.0.

And finally, I paid $2694 to upgraded the Infotainment system.

All in all I am in for $64443.75 (69188.75 with tax, title and registration).

So, how did I do? Should I have left it as it was at $52, or was it worthwhile throwing another $12,500 into it to upgrade it? Do you think I am now upside down in it? Will I ever recoup what I put into it?

I know I can't change it at this point, but I would like to hear what others think given that I am so new to Tesla.

Thanks for your time and opinions.

FW98

You could have purchased a brand new Long Range model S for 69K.

So I guess you saved $8K on FSD but are losing out on range, performance, interior refinements, new suspension, full warranty, etc...

Even 52K for a non-performance 90 pack sounds steep. You are absolutely upside down on that purchase. The money for the upgrades will not be recouped.

 

[Cheburashka]

You could have purchased a brand new Long Range model S for 69K.

So I guess you saved $8K on FSD but are losing out on range, performance, interior refinements, new suspension, full warranty, etc...

Even 52K for a non-performance 90 pack sounds steep. You are absolutely upside down on that purchase. The money for the upgrades will not be recouped.

Is it really? 52k doesn't sound steep to me at all for a 90 pack. Then again I also have no interest in the newer cars because of lack of sunroof.

 

[Bigriver]

Tesla has continued to drastically reduce the price of the model S and model X, all while rolling features that were once additional cost options into the base configuration. Thus the comparison to the original sticker price is of little relevance. Could you turn around and sell it for what you now have invested in it? Probably not. Might a new one for about $15k more (assuming FSD) have been a consideration? Maybe. But as @whitex pointed out, that shouldn’t detract from you moving forward and enjoying the car. As a point of comparison, I have a 2017 model x with about the same range as your car, also have the MCU2 upgrade and FSD, also have free supercharging and free premium connectivity (both of which I value and are no longer available) - and I’ve spent much, much more $$ than you. Doesn’t stop me from marveling at the car every time I am in it. Nothing beats the EV experience along with autopilot.

 

[ucmndd]

So, how did I do?

You did a good job equipping a four year old car as close to a new one as possible. So from that point of view, well done.

Unfortunately you are almost certainly WELL “upside down” at this point. Anyone looking at your car is going to compare it to a brand new Model S, which they can source for within a few thousand dollars of your car.

Some will see the value of yours having the FSD package. A few will appreciate the token value of your free supercharging and connectivity. But the VAST majority will see a 4 year old car, priced within a few thousand of a brand new one, that includes 4 years of incremental improvements and 35% more range.

But, you know, love the one you’re with. Enjoy the car!

 

[IslandHydro]

My advice: enjoy your car, it's a gem. Worrying over how much you spent is an exercise in futility, no matter what path you choose.

 

[glide]

Is it really? 52k doesn't sound steep to me at all for a 90 pack. Then again I also have no interest in the newer cars because of lack of sunroof.

Yes. P90D’s don’t sell in that range. A P100DL may.

The price is so close to new at that point.

 

[ucmndd]

Yes. P90D’s don’t sell in that range.

P90Ds sell in exactly that range. The cheapest used example on Tesla’s site is $52,200 and they go up from there. Cheapest P90D on AutoTrader is $54,500.

A P100DL may.

Cheapest P100DL at Tesla is $65,400. The cheapest in the entire nation on Autotrader is $62k. Let’s not exaggerate quite to that degree in the name of making a point.

 

[fbitz777]

I thought 2016.5 would still be AP1?

 

[ucmndd]

I thought 2016.5 would still be AP1?

October 2016 and later were AP2.

 

[glide]

P90Ds sell in exactly that range. The cheapest used example on Tesla’s site is $52,200 and they go up from there. Cheapest P90D on AutoTrader is $54,500.



Cheapest P100DL at Tesla is $65,400. The cheapest in the entire nation on Autotrader is $62k. Let’s not exaggerate quite to that degree in the name of making a point.

What Tesla lists used vehicles for on their site is nowhere in the realm of reality when you compare against private party sales.

Remember, Tesla is actively trying to discourage the sale of used vehicles.

 

[ucmndd]

What Tesla lists used vehicles for on their site is nowhere in the realm of reality when you compare against private party sales.

Remember, Tesla is actively trying to discourage the sale of used vehicles.

That’s why I included Autotrader too.

The numbers are what they are. Would you care to find me a single clean-titled AP2+ P100D for $52k?

How about an AP2 P90D for significantly less than $52k? Bonus if it’s under 100k miles.

The market is what it is. @glide’s personal feelings on what he thinks cars should be selling for is about as interesting to me as the rest of @glide ’s personal feelings. Which is to say, not very interesting. Disagree with facts all you want.

 

[tccartier]

If you are considering it and or thinking of it as an investment then yes you went way overboard. On the other hand if you're just fixing your toy up the way you want it and you're going to go play then you're all good have fun with it.

 

[glide]

That’s why I included Autotrader too.

The numbers are what they are. Would you care to find me a single clean-titled AP2+ P100D for $52k?

How about an AP2 P90D for significantly less than $52k? Bonus if it’s under 100k miles.

The market is what it is. @glide’s personal feelings on what he thinks cars should be selling for is about as interesting to me as the rest of @glide ’s personal feelings. Which is to say, not very interesting. Disagree with facts all you want.

Clearly you are interested. You know there is an “ignore list” if you’re not.

Autotrader prices on used Tesla’s are also completely unrealistic. But thanks for trying again.

 

[ucmndd]

Clearly you are interested. You know there is an “ignore list” if you’re not.

Autotrader prices on used Tesla’s are also completely unrealistic. But thanks for trying again.

I’ll be waiting for you to provide a single counterpoint to support your claim. Sounds like it should be super easy.

It’s possible to be uninterested in your feelings but committed to making sure the rest of the community is informed as to when you’re just flat out making things up.

 

[Cheburashka]

Yes. P90D’s don’t sell in that range. A P100DL may.

The price is so close to new at that point.

I just looked and couldn't find any p100d close to that.

Seems like 52k is average for a 90d in good condition.

 

[ucmndd]

I just looked and couldn't find any p100d close to that.

Seems like 52k is average for a 90d in good condition.

It’s all lies, man. The mainstream media is fudging the numbers. Open your eyes. Trust Glide’s feelings.

 

[fw98]

Thank you all for joining the conversation. I totally agree that since I can't change/return it, it is probably an exercise in futility to wonder if I should have spent that much on a 4 year old car. That said, I appreciate UCMNDD"s comment that

You did a good job equipping a four year old car as close to a new one as possible. So from that point of view, well done.

I did a little research on the car prior to purchasing it, and was told it was best to get the extended warranty, so I feel good about that purchase. I also feel ok about the overall price of the car as I did quite a bit of research on a private party price and got the original owner down from $60k (had verbal agreement at 50k but he reneged.)

So I guess really it is just the $7700 I spent after the fact upgrading to full FSD and the Infotainment upgrade that make me think "hey did I go a little over the top." I rationalized the purchase by thinking that if I bought a base at 69,420, it wouldn't have the sunroof and FSD, free supercharging, and premium connectivity (yes I know its only $10 per month, but hey I'm rationalizing here

On a quick pivot, if anyone has any thoughts on things that I should get checked out before the factory warranty runs out in 12 days, I would definitely be interested in hearing about that as well. Everything on the car appears to be functioning well, except, I am noticing a "clunking" on the front driver side wheel area when the autopilot applies the brakes at a stop sign or light on city streets, which I am going to have them check.

Other than that, I am going to take all of your advice and really enjoy the car.

Thanks for sharing.

FW98

 

[domodan]

Is it really? 52k doesn't sound steep to me at all for a 90 pack. Then again I also have no interest in the newer cars because of lack of sunroof.

In July of this year I bought a fully loaded P90D for $53.5k. I felt like it was a steal of a deal. It’s an AP1 car though.