Discussion: Model 3 and Y price drop Jan 2023 / April 2023 / Oct 2023 and All other Pricing Speculation going forward

[Bikeman]

My 2023 MYP with 1100 miles has a trade in value of 40-45k. I paid 66k before taxes 2 weeks ago

Mine has 411 miles on the odo since Dec. 6th. Difficult to stomach this crap all at once. My 401k went down even more than that difference in less time. Very glad I didn't buy Tesla stock at the recent $400 high.

 

[tonyz1]

Well FML. I just took delivery earlier today at noon of my MYLR and I see this price drop a few hours later. What a dampener on that new car feeling... I feel so f*cked over.

If you want to be aggressive about it, Try disconnecting your plaid asap or try to cancel your cashiers check (not sure if either will work but its possible) so money isn’t moved. Then try to renegotiate the price.

 

[Aqua Bliss]

Well FML. I just took delivery earlier today at noon of my MYLR and I see this price drop a few hours later. What a dampener on that new car feeling... I feel so f*cked over.

Where do you live? In CA you might have 2 days to return it. Not sure if this is case by case or applies to all new vehicle purchases: Is there a Grace Period to Return a New Car in CA? - Lemon Law Now

Don’t drive over 250mi if you want to try this!

 

[skola]

If you want to be aggressive about it, Try disconnecting your plaid asap or try to cancel your cashiers check (not sure if either will work but its possible) so money isn’t moved. Then try to renegotiate the price.

My auto loan was through my own bank, not Tesla. I'm basically f*cked lol

 

[tonyz1]

My auto loan was through my own bank, not Tesla. I'm basically f*cked lol

How did you pay them? Was it through plaid ach? I’m saying disconnect ach now if you really want to try so the moneys not moved and then push Tesla. There were some forum posts about how it’s important to leave ach connected for 24 hours to make sure the money is moved. You can use that to your advantage.

 

[WhiteOnWhiteMY]

Debating with myself about getting GAP insurance. It's easy to say drive it till it dies, but if I get in any accident that totals my vehicle out, I am going to be screwed by this new valuation on the car. If I got in an accident in the next couple of years, the value would likely be 20k short of what is still owed on the car. Beyond resale value, this might be the most significant sticking point with this price drop.

 

[skola]

How did you pay them? Was it through plaid ach? I’m saying disconnect ach now if you really want to try so the moneys not moved and then push Tesla. There were some forum posts about how it’s important to leave ach connected for 24 hours to make sure the money is moved. You can use that to your advantage.

For my purchase, I did a trade-in plus cash (as downpayment)... used Plaid Ach to do the cash payment on Tuesday and the money is already out of my account..I might be too late unfortunately

 

[RoBoRaT]

Doesn’t this mean the CA CVRP is available? They scoped out Teslas due to the prices but now it’s pre March 2022 pricing.

Yes, according to their eligibility requirement that SUV base MSRP max at $60K. They should be update their guidance re Model 3 and Model Ys.

Now a 53K Model Y can be potentially had for about 45K after 7.5K CVRP rebate and 7.5K Fed tax credit.

Wow!

 

[Arrosto]

Bought my MY RWD at 55k last October .... now is 5k cheaper, which means loosing value on mine as well.
Could think about trading it back for a LR (that received an higher price cut) but at the end ... well...

 

[zannman]

I fear that Tesla will out-compete all other car manufacturers with these new prices. At these levels, there isn’t any margin to make a profit with unless you’ve scaled up production, something only Tesla so far has achieved. The competitors will bleed a lot of money this year, draining themselves of cash to invest in their EV production lines.

Bigger picture, Tesla just torpedoed the whole new car industry that hasn’t yet fully acknowledged that we’re no longer in an economy for big market adjustments.

Tesla the company will continue to be supply limited this quarter now, mainly because they’re nimble enough to respond to external forces like a surprise EV tax credit MSRP cap. If the government “fixes” the MSRP cap to $80k like it should have been for Y, then Tesla will gradually raise prices again, affecting used values positively.

This is the time to take advantage of a major shift if you’re able and want to upgrade to a newer car.

Once the stock market digests this news and ruminates on it a bit, it could be huge for the stock. There might be stock buying opportunities short term to make back losses for those who perceive that they overpaid for their car in the last year.

 

[hakunamattata]

Debating with myself about getting GAP insurance. It's easy to say drive it till it dies, but if I get in any accident that totals my vehicle out, I am going to be screwed by this new valuation on the car. If I got in an accident in the next couple of years, the value would likely be 20k short of what is still owed on the car. Beyond resale value, this might be the most significant sticking point with this price drop.

I would say get GAP insurance to protect yourself. In some cases your loan or lease has GAP insurance included check your paperwork as I know for sure Tesla leases have GAP insurance included

 

[Mike7564]

OMG.. WOW

we were all wrong.. well some more than others.

I wish I was wrong.

 

[hmmwv]

Easy for you. I might have overpaid for a car that’s about to plummet in value. I haven’t taken delivery and I won’t if this is true. Not sure what I’ll do with the tesla charger in the garage and the thousand dollars of accessories I already have waiting. Lol

Chill, man, I can confirm that my MVPA has been updated to reflect the new price.

Debating with myself about getting GAP insurance. It's easy to say drive it till it dies, but if I get in any accident that totals my vehicle out, I am going to be screwed by this new valuation on the car. If I got in an accident in the next couple of years, the value would likely be 20k short of what is still owed on the car. Beyond resale value, this might be the most significant sticking point with this price drop.

I'd highly recommend getting GAP insurance and get yourself protected.

This is the time to take advantage of a major shift if you’re able and want to upgrade to a newer car.

Once the stock market digests this news and ruminates on it a bit, it could be huge for the stock. There might be stock buying opportunities short term to make back losses for those who perceive that they overpaid for their car in the last year.

I'd say it's a safe time to buy a Tesla, but there is no guarantee that coming March Tesla won't lower price again to offset the halved IRA incentive. But that'll be a gamble, if demand is strong enough Tesla may not react at all. I think we'll have more info on Jan 25th, but for tomorrow I'm not sure the market will immediately react positively to the price cuts, afterall in the short term Tesla won't be posting huge profits.

But man this cut is massive, even though I'm a firm believer that price cuts are coming this is insane, I thought we'll see a $50-55k MYAWD and a $55-58k MYLR. It'll be even more bomb when we see configurator of the MYAWD, my guess its base price is $49k.

 

[fonger]

I'm shocked that the reduction is this massive, Shafting recent buyers.
I don't think I will buy another Tesla.
By the time I need another car there will be plenty of options to choose from.

 

[arbitrage000]

MSRP needed to be changed to qualify forTax Credit.

No tax credit in Canada and MYLR dropped 21%. MYP 18%.

 

[dvaquerano]

Well, I got an August 2022 MYP so the value just went down significantly lol, I guess it is time for me to mute this thread and stop reading twitter for a couple of days ha. It is what it is.

The only thing that serve as consolation is that I made $9K off of the M3 I sold last year. :s

 

[rhk109]

Heck, I might order another one to average down....Took delivery in Oct 22 at Nov 21 price lock.

 

[Destiny1701]

My 2023 MYP with 1100 miles has a trade in value of 40-45k. I paid 66k before taxes 2 weeks ago

I gotta find a dealer who hasn’t seen this yet and pawn my 22’ MYP lol

 

[Destiny1701]

Heck, I might order another one to average down....Took delivery in Oct 22 at Nov 21 price lock.

Such a stock trader thing to say lol
Careful as prices may yet still fall based on demand this year!

 

[Destiny1701]

No tax credit in Canada and MYLR dropped 21%. MYP 18%.

Check MX and MS. -30k and -20k respectively. WOW

Well it’s official…Covid pricing almost at an end. tesla just followed housing prices.

I guess now I’m ‘stuck’ holding onto my 22’ July MYP. Lucky I bought it for 82k so I’m off by -6k here but my lord for those who paid 90k last month…sorry