Discussion: Model 3 Price reductions - Jan / April / Oct 2023 and all other pricing discussions

[Cookies]

that's what most folks don't understand and why ZERO $ down loans are so dangerous (unless you buy Gap insurance).

If you bought a Model Y for $66k/+taxes and financed it just two weeks ago... if you total that same car today - the insurance will pay you $53k/+taxes. The bank however wants $66k/+taxes from you (minus any payments already made). So you are on the hook for $13k....

It gets even worse when you own the car just long enough where insurance might not deem your car at MSRP. What if you total your relatively new MY with 2k miles on it? Straight off the lot? Sure, insurance will likely just take new car valuation of $53k. But a few months down? Good luck. That valuation might be <$40k instead of $53k, meaning you are down over $25k in equity on the loan in just under 2k miles.

Unless you're putting down like half of the cost, gap insurance is pretty much necessary for all recent Tesla owners

 

[Silicon Desert]

That is one of the more silly statements I have ever read. Of course they will be able to sell it. Perhaps you ment to say "you wont be able to sell it for as much as you would have a month ago"?

yes, + 1 to this one. Seems we live in a world where some people like to sensationalize and exaggerate everything. Reminds me of the term I heard lately, "Bomb cyclone". Even the weatherman wants to make us think California is going to explode in a nuclear blast of rain.

 

[_lok]

20% is huge. I wouldn't be this pissed if they cut the prices small several times.

 

[texas_star_TM3]

20% is huge. I wouldn't be this pissed if they cut the prices small several times.

also will hold back demand in markets where Tesla hasn't cut prices *yet*.

 

[vishnumrao]

I can bet that there are more price cuts coming, especially on the MS & MX.

But this is really going to shake up the wider car industry pricing as the price reduced M3 & MY have just become a whole lot more compelling purchases. So there is likely an industry wide price war coming.

 

[Recce93]

Depends on what he meant by "down payment". It might be another story to extract cash paid directly to Tesla after refusing the purchase altogether.

We ordered with a down payment for the 3750 credit but took delivery after they added the 10k supercharger miles and go that, it all depends on when you take actual delivery of the vehicle.

 

[mrpizzatacular]

Chatted on tesla.com to see if they had any details on how the $7,500 works with leases. With the price drops, I'm definitely interested in an M3P!

Anyone know by any chance?

 

[mgs333]

I can bet that there are more price cuts coming, especially on the MS & MX.

But this is really going to shake up the wider car industry pricing as the price reduced M3 & MY have just become a whole lot more compelling purchases. So there is likely an industry wide price war coming.

This has been said several times just in this thread but these new prices are pretty much what the prices were 2 years ago, so why would it suddenly 'shake up the entire car industry' this time?

 

[Lavender]

Well, its official. I will never again purchase a Tesla product again because of this. Not only did many of us pay way over the new prices, but this also tanks the trade in value. All I can hope for now is to be rear ended by an F450

 

[texas_star_TM3]

Well, its official. I will never again purchase a Tesla product again because of this. Not only did many of us pay way over the new prices, but this also tanks the trade in value. All I can hope for now is to be rear ended by an F450

In which case the most you would get is a check for current model Y price minus depreciation. What you originally paid or owe the bank is irrelevant to your insurer

 

[Lavender]

In which case the most you would get is a check for current model Y price minus depreciation. What you originally paid or owe the bank is irrelevant to your insurer

That is why I always carry Gap insurance on my loans. At least the loan would be paid off in the event of a total loss instead of being 20k upside down on this POS

 

[FLRifleman]

I can bet that there are more price cuts coming, especially on the MS & MX.

But this is really going to shake up the wider car industry pricing as the price reduced M3 & MY have just become a whole lot more compelling purchases. So there is likely an industry wide price war coming.

You can buy a Chevy Bolt today for sub 30k. Rather than shaking up the wider market, the price reduction brings the Model 3 & Y pricing down to be more competitive with existing offerings. The cheapest Model 3 today is still ~$44k.

 

[ElectricIAC]

You can buy a Chevy Bolt today for sub 30k.

Not the own it appears to be.

It’s still a Bolt and they should pay you to drive it.

 

[SageBrush]

You can buy a Chevy Bolt today for sub 30k. Rather than shaking up the wider market, the price reduction brings the Model 3 & Y pricing down to be more competitive with existing offerings. The cheapest Model 3 today is still ~$44k.

You can buy a bicycle for $300.

I own a Bolt, and my wife asked me to shop for an EUV so I know the current Bolt market, the dealer-markups, and the expected reduced EV tax credit by the time a Bolt shows up on the dealer lot.
If you want to buy an EV about comparable to one of Tesla's offerings for a lower price, you are out of luck. My EUV shopping is over; I just ordered a Tesla.

 

[mpgxsvcd]

You can buy a Chevy Bolt today for sub 30k.

Can you though? They are still marking the Bolts up a lot.

 

[T3SLAROD]

After thinking about it some, Tesla is actually doing is the consumer a favor with this move. Other manufacturers will be forced to stop asking above MSRP prices and maybe even some of the enthusiast models will come back down to earth. Thanks Musk.

 

[FLRifleman]

Not the own it appears to be.

It’s still a Bolt and they should pay you to drive it.

You can buy a bicycle for $300.

I own a Bolt, and my wife asked me to shop for an EUV so I know the current Bolt market, the dealer-markups, and the expected reduced EV tax credit by the time a Bolt shows up on the dealer lot.
If you want to buy an EV about comparable to one of Tesla's offerings for a lower price, keep looking. My EUV shopping is over; I just ordered a Tesla.

Never said it was on my buy list. The response was to the assertion that the price reduction would shake up the overall market. That's not the case, it simply brings down the 3 & Y pricing where they are more competitive in the existing marketplace. However both are still priced significantly higher.

 

[launchd]

Not the own it appears to be.

It’s still a Bolt and they should pay you to drive it.

They do pay you to drive it. Chevy loses money on every Bolt sale.

 

[Blacktes24]

Can I see trade in value on tesla website without going through with the purchase?

 

[popgodazipa]

When you file your taxes you will have to enter the VIN. That VIN will be automatically verified without human intervention against this list. If the vehicle isn't on the list the claim will be flagged. The list definitely is fluid but the vehicle isn't on the list yet so you are taking a risk if you are counting on the tax credit.

I don’t think it will work like that. Many instances of folks claiming multiple credits on a single vin. The IRS ain’t putting that much effort into this kind of enforcement.