Well, I guess if you are fine with taking a $15k loss then you could sell it. Just punch any Tesla into Vroom, Carvana, or even CarMax. You will see how low the offers really are. You might as well just donate the car.
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Discussion: Model 3 Price reductions - Jan / April / Oct 2023 and all other pricing discussions
- Thread starter mpgxsvcd
- Start date
Yes, the cap on units sold expired on 1/1/2023. I know that for certain. It is in the bill that was passed.
I just leased, took delivery of mine on Sunday 1/8/23. So I am out of luck, up the creek without a paddle, right?Tesla has reduced Model Y and Model 3 prices DRASTICALLY. Now several models will qualify for the $7,500 tax incentive until at least March.
Here is a picture of the price reductions.
View attachment 895084
It is important to note which cars will now qualify for the tax credits and which won’t.
Model 3 RWD qualifies for the Tax credit until March. The effective price for a no option Model 3 RWD should now be about $36,500 after the tax credit.
Model 3 LR should qualify for the tax credit. However, you can’t configure it on the site. You will have to find one already built but not sold to get one.
Model 3 Performance is under the $55k cap now. However, it is not listed on the government website as being eligible. The Tesla website explicitly says it qualifies right now but this may be incorrect. You might find that when you file your tax return in 2024 they deny it because it is not listed as being eligible with the government.
Credits for new clean vehicles purchased in 2023 or after | Internal Revenue Service
You may qualify for a clean vehicle tax credit up to $7,500 if you buy a new, qualified plug-in electric vehicle or fuel cell electric vehicle.www.irs.gov
Model Y LR now qualifies. The effective price for it is now about $45,490 after tax credits.
Resell values have been OBLITERATED! These cars are essentially worthless on the resell market now.
This really is a monumental shift in pricing for Tesla. They were already dominating the market and this can only strengthen their lead.
None of the Model Y Performance cars will qualify for the tax credits but that price is now less than I paid for my 2022 Model 3 Performance($59k).
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(moderator note: In model 3 subforum this will be THE thread on this topic. All discussion on this price cut in this subforum will be moved in to this thread, so there will not be multiples of this topic in this subforum)
Taking a loss is NOT the same thing as "you cant sell it'. Extreme hyperbole waters down arguments.
Blacktes24
Member
Apparently KBB doesn't know about the price decrease yet. I wish I was home I'd try and sell it to a dealer in the next day or two. 
Did you see this offer I got this morning? The values really have plummeted that much. This wasn’t the only offer I got in this range either. They are all under $40k now for a Model 3 Performance. I suspect LR and RWD could be less than $30k now even for nearly new ones.
Taking a few thousand loss is one thing. Taking a $15k loss is a whole different thing. Nobody would sell their car at a $15k loss to buy another one. Have you actually checked the resell values today? I am not exaggerating how far they have dropped.
The used car auction sale prices are really going to drop. Lowering Wholesale values. Lowering used car prices. People will be trading in their used Teslas to get new ones at the lower price increasing the number of used Teslas on the market. The trade in value of Teslas just went way down. This will leave quite a few people deeply under water in their cars that purchased at higher prices.
Dealers look at the wholesale market at the time when you try to sell it. The wholesale market has already tanked. KBB is always delayed in reacting to the actual wholesale market.Apparently KBB doesn't know about the price decrease yet. I wish I was home I'd try and sell it to a dealer in the next day or two.
Blacktes24
Member
When did this change? This is still on the IRS website.
"To qualify, a vehicle must:
"To qualify, a vehicle must:
- Have an external charging source
- Have a gross vehicle weight rating of less than 14,000 pounds
- Be made by a manufacturer that hasn't sold more than 200,000 EVs in the U.S.
You are probably looking at the section that says something to the affect of “If you purchased your EV BEFORE 1/1/2023”.
TesslaBull
Member
Outside of the extremely bizarre pandemic situation of the last two years, selling a car to Carvana or a car dealer or trading in a car has *always* been a really dumb way to get rid of a used car, unless your goal is to get the least amount of money possible for it. Dealers have to leave tons of room to mark up. Now that we are coming out of the super bizarre pandemic situation, its business as usual. Sell your car private party if you want to get the most money out of out. Trade in and selling to a dealer ensures the biggest loss.
Blacktes24
Member
I got mine ordered before the last price increases. Think I paid 58,900 and then by the time it was delivered my sticker was 65,900.
Blacktes24
Member
So I assume they changed the rules for 23??? I am trying to figure this out as I'd like to maybe get a new one since they are way off what they were and then $7500 rebate.
TesslaBull
Member
If you've been alive and on planet earth, the IRA(inflation reduction act) is not a secret.
Current response from Vroom's online appraisal of my current 2018 P3D:
"We are not purchasing Tesla vehicles at this time, and are unable to provide a price for you."
Tesla's appraisal:
Estimated on January 13, 2023
$29,800 - $33,300
Includes value of Full Self-Driving
Carvana quoted $32k, so at least they're still buying.
"We are not purchasing Tesla vehicles at this time, and are unable to provide a price for you."
Tesla's appraisal:
Estimated on January 13, 2023
$29,800 - $33,300
Includes value of Full Self-Driving
Carvana quoted $32k, so at least they're still buying.
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You said " cant sell it" which is a patently false statement, period. Thats why I called it a silly statement. 'I dont want to lose that much money" is a completely different statement than "cant sell it".
You have a nice car but if you are expecting to get money back or to sell the car then that probably isn’t going to happen now.
Which car did you lease?
ElectricIAC
Good-Natured Rascal
And now they have stopped giving offers all together.
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