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

[240vPlug]

Ordered my MYP in March of last year, took delivery in June. Paid approx 10k more than I would have now and no tax credit of course. Current trade in value is about 42k with only 1500 miles on the car :/

How many others are in the 10k club? lol

Did you get FSD . The only time I would worry about this is if you need to sell or have lost a job and can't afford payment. Otherwise just continue to drive and enjoy the vehicle. Eventually you should be in a positive equity position....it will just take longer because of all the price cuts.

The thing that sucks is being stuck in the car for a long time. None of us is used to that because the most M3 or MY had lost over a 3 year period was about 10%. I mean I am annoyed by it but Tesla is clearly after market share with all these pricing updates.

 

[T4M3]

Ordered my MYP in March of last year, took delivery in June. Paid approx 10k more than I would have now and no tax credit of course. Current trade in value is about 42k with only 1500 miles on the car :/

How many others are in the 10k club? lol

Looks like you did not drive much. Just 1500 miles since last June?

 

[tkram82]

Looks like you did not drive much. Just 1500 miles since last June?

Correct. Which makes the trade in value that much more sobering.

 

[2023M3RWD]

Has anyone gotten their 2023 M3 quoted by carmax recently? Recent price cuts have got me in buyers remorse since I got delivery in Dec 22

 

[T4M3]

Has anyone gotten their 2023 M3 quoted by carmax recently? Recent price cuts have got me in buyers remorse since I got delivery in Dec 22

I am on purpose not getting a quote and I am just enjoying the car. "Enjoy every healthy day" is my new motto.

 

[networkguy]

Has anyone gotten their 2023 M3 quoted by carmax recently? Recent price cuts have got me in buyers remorse since I got delivery in Dec 22

Not really answering your question, but I would expect prices to be reduced even more in the near future. Those last price cuts had zero help reducing current inventory. Now inventory seems to be going up.

 

[loanchau2k]

No surprise, basically, all Tesla models will depreciate very fast the way Tesla cut prices

Big-selling electric models are among the most depreciating used cars

If there’s one thing most buyers of nearly-new cars want to know, it’s what that car is going to be worth when they sell it on.

www.yahoo.com

 

[E90alex]

Yep my 6 month old Model 3 basically dropped $20k in value overnight after the price cuts in January.

 

[DP26]

Those who were fortunate enough to buy after the decrease (and after the tax credit opened for Tesla again) may be in a better position. Of course, only applies if the vehicle is sold. The Covid era Jeep we bought new in early 2020, when dealers were hurting at the beginning of the pandemic, gets offers at only 4 to 5k less than what we actually paid. Not selling it, but it is tempting.

 

[tusc]

Given the increasing inventory for the M3 RWD, do we expect another price drop? I'm looking to purchase an M3 but would ideally like an LR and have no need for the performance. Wish there was an estimate when in 2023 the LR will be available.

Portfolio - Matt Jung Photography

 

[Tesmocker]

Going to take delivery next week, already paid down payment. What are my chances of getting a check for the price difference? Or am I out of luck haha

That is a great question - I think all recent purchases are owed a check or some form of restitution.

 

[prism3]

I bought Model 3 RWD on Feb 27 2023 at a price of 44490$ now its showing 40240$. IN just 2 months car value is dropped by 5000$ which is not good. On top of that I ask Tesla to trade Model 3 with Model Y/X they said Trade price is 33K which is absurd. We need all come together and file petition to compensate existing tesla owner with current market price. As owner who bought/delivery in December 2022 received check as they overpaid when they booked it.

 

[mwestk]

I bought Model 3 RWD on Feb 27 2023 at a price of 44490$ now its showing 40240$. IN just 2 months car value is dropped by 5000$ which is not good. On top of that I ask Tesla to trade Model 3 with Model Y/X they said Trade price is 33K which is absurd. We need all come together and file petition to compensate existing tesla owner with current market price. As owner who bought/delivery in December 2022 received check as they overpaid when they booked it.

You forget to factor in the loss of the $3,750 tax credit after 4/18...so in reality your car value dropped only $1,250 which is negligible.
In addition, with the M3 refresh coming very soon i wouldn't be suprised if the price dropped to $36k very soon.

 

[mdog5]

Welp - Another kick in the nuts from Tesla. I am one of those poor souls that bought a 2023 Tesla LR in Nov for 57k and now it’s net below 45 with rebates wow.

Or… maybe I got myself a collectors edition 2023 as one of the last produced with the 358 mile range instead of this new 2023 with 325?? Nah prob not.

Regardless I still love the car. But this hurts

 

[medphys3]

Interesting on the range decrease. Website says 325+... I wonder what changed?

 

[cmy4x4]

Interesting on the range decrease. Website says 325+... I wonder what changed?

And why is the tax credit only $3750. did they change the batteries?

 

[holeydonut]

And why is the tax credit only $3750. did they change the batteries?

Yeah the IRS changed the rules around what incentives were available based on the source of key components.

https://www.npr.org/2023/04/15/1169763545/electric-cars-vehicles-tax-credit-climate-bill

 

[M3_Performante]

I bought Model 3 RWD on Feb 27 2023 at a price of 44490$ now its showing 40240$. IN just 2 months car value is dropped by 5000$ which is not good. On top of that I ask Tesla to trade Model 3 with Model Y/X they said Trade price is 33K which is absurd. We need all come together and file petition to compensate existing tesla owner with current market price. As owner who bought/delivery in December 2022 received check as they overpaid when they booked it.

that is nothing compared to what a friend of mine paid for a Model Y in late 2022 compared to what they sell them for now and with the tax credit for salt on the wound, about $20K delta....it sucks, but really nothing anybody can do about a car maker lowering prices. Pretty much everyone that bought a car in 2022 overpaid, Tesla or other make....

Remember what flat screen TV's used to cost compared to what they cost now....It's actually a good thing when the price of things come down, although it's rough when you are the one who paid for something near its peak in price.

 

[M3_Performante]

With the range almost the same and the $3750 difference in tax credit, the Performance seems like a no brainer over the LR.

Interesting why the LR only qualifies for the $3750? Thought they were basically the same batteries as the Performance?

 

[Evpowerdan]

With the range almost the same and the $3750 difference in tax credit, the Performance seems like a no brainer over the LR.

Interesting why the LR only qualifies for the $3750? Thought they were basically the same batteries as the Performance?

LFP battery in the M3LR being shipped in June/23. Those batteries are made in china by LG. Not the same battery as in the prior M3LR as before.

Why 325+ range estimate? Because the LFP batteries have additional capacity that can be released (with software - hence, you are not using the full capacity of the battery at a stated 100% on the screen). Lot's of advantages of LFP batteries - less prone to fires, more stable with less degeneration over time, thermal stable and no cobalt. They should last longer than lithium batteries over time.

In terms of the tax credit, that is presuming you as an individual qualify for it. The M3P is a good deal for the extra performance, 20" Uberturbine wheels with summer tires, bigger brakes, track setting (if you plan to go to the track), pedals and carbon fiber trunk spoiler - even better if you qualify for the full $7.5k (if you keep the MSRP below $55k for a sedan per the IRA EV tax rebate requirements).

Agree - anyone that bought a big ticket item in mid-21 to late 22 definitely paid top $$$ or the dreaded "market adjustment crap" which includes (Houses, cars, boats, motorcycles, RV's and etc). Those days of FOMO, super low interest rates and free money are done and way behind us now.