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

[Icoutin]

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 i

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?

Model Y LR, red w 20” wheels. 5 days ago. Trying to process how much more I’m paying than i would today.

 

[mpgxsvcd]

Good thing vroom isn’t the only place you can sell a car.

They are all either giving that statement or just offering absurd prices that no one would ever accept.

 

[Blacktes24]

Ok so yes the fed rebate still applies. now i need to find out if IL has a rebate still.

 

[Jeremy3292]

A car is not an asset; it is an expense. It is not real property like land or a house.

Buying a new car and worrying about resale value makes ZERO sense.

 

[ElectricIAC]

If you’re buying a car for it’s resale value as a major metric, you’re buying the wrong car.

 

[mpgxsvcd]

Model Y LR, red w 20” wheels. 5 days ago. Trying to process how much more I’m paying than i would today.

Your vehicle wouldn’t qualify for the tax credits even now because of the options. However, the actual price is down $13,000 since yesterday.

 

[Joboo7777]

A car is not an asset; it is an expense. It is not real property like land or a house.

Buying a new car and worrying about resale value makes ZERO sense.

completely agree. ,And..with price drop comes higher demand. Higher demand creates longer order times which actually may help used car sales. Most likely will be a wash.

 

[mpgxsvcd]

If you’re buying a car for its resale value as a major metric, you’re buying the wrong car.

There is a difference between buying a car to flip it and caring that your car is worth $15k less than you owe on it.

You better believe that if you total a Tesla with a significant loan on it right now then the insurance company isn’t going to cover the loan unless you have GAP insurance.

The value isn’t just important for resell. It matters in other ways as well.

 

[Jeremy3292]

There is a difference between buying a car to flip it and caring that your car is worth $15k less than you owe on it.

You better believe that if you total a Tesla with a significant loan on it right now then the insurance company isn’t going to cover the loan unless you have GAP insurance.

The value isn’t just important for resell. It matters in other ways as well.

Not trying to be rude here but if you don't have gap insurance (which is cheap and also included in lots of auto policies these days) and don't make smart financial choices...I don't know what to tell you.

This has nothing to do with Tesla IMO. See Elon's tweet below, still rings true:

 

[Blacktes24]

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.

View attachment 895379

holy *sugar* thats brutal. carvana says 38,300 for mine. unreal i literally could have sold it to carvana this summer for 68k.

 

[jjrandorin]

Not trying to be rude here but if you don't have gap insurance (which is cheap and also included in lots of auto policies these days) and don't make smart financial choices...I don't know what to tell you.

This has nothing to do with Tesla IMO. See Elon's tweet below, still rings true:

View attachment 895390

Nothing you or anyone else says is going to stop the people who want to complain from complaining. With that being said, more of that happens here than any other car subforum I have been on, and when it spins up like this, it frankly makes me wonder wtf I am doing spending so much time here for free, basically working (lol).

 

[Blacktes24]

If you've been alive and on planet earth, the IRA(inflation reduction act) is not a secret.

I don't follow tesla rebates as I just bought one in may. but i saw an article about tesla slashing prices and then it said they had the rebate of 7500 which I thought was gone so it got the wheels turning in my head.

 

[texas_star_TM3]

If you’re buying a car for it’s resale value as a major metric, you’re buying the wrong car.

but but but Elon promised that Tesla's would be appreciating assets and and ROBOTAXIS!!!!

 

[mpgxsvcd]

Not trying to be rude here but if you don't have gap insurance (which is cheap and also included in lots of auto policies these days) and don't make smart financial choices...I don't know what to tell you.

This has nothing to do with Tesla IMO. See Elon's tweet below, still rings true:

View attachment 895390

Some insurance companies don’t offer GAP insurance or won’t allow you to add it significantly after the time of purchase.

 

[texas_star_TM3]

There is a difference between buying a car to flip it and caring that your car is worth $15k less than you owe on it.

You better believe that if you total a Tesla with a significant loan on it right now then the insurance company isn’t going to cover the loan unless you have GAP insurance.

The value isn’t just important for resell. It matters in other ways as well.

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....

 

[texas_star_TM3]

Some insurance companies don’t offer GAP insurance or won’t allow you to add it significantly after the time of purchase.

of course not. they aren't stupid. You can't buy insurance when your house is already on fire either.

 

[Silicon Desert]

I tell ya what, I’ll offer you $100 for your car used. That’s like, infinite times more than worthless.

yes, And I will immediately pay you $200 for his "WORTHLESS" Tesla and you will make 100% profit over night.

 

[OCR1]

Is Tesla taking vehicles in trade or are those days over?

 

[Silicon Desert]

....... But I see the Lyriq as more of an X competitor than a Y competitor.

Gee, that is what my wife is thinking. Frankly, she likes the Lyriq more than the Y or the X even if it is now more expensive. For me, I'm not a fan of the gimmick front end led flashing, but I'll overlook that.

 

[srs5694]

Can anyone say for sure that the M3 does still qualify for the federal rebate? I could have sworn they did away with the rebate because it has sold over 500k units. or did the administration change it?

Yes. At least two of us just replied stating that it's been changed. (The Biden Administration didn't change it, and couldn't; Congress changed it.) Please see above, or see any of the many news reports about it, such as:

• EV Tax Credit: 2022 & 2023 - Which Cars Qualify & How It Works
• What You Need To Know About 2023 EV Tax Credits -
• The Complete List Of Eligible Cars For The $7,500 EV Tax Credit | Carscoops

There's also the official IRS pages:

• Credits for New Clean Vehicles Purchased in 2023 or After | Internal Revenue Service
  • Manufacturers and Models for New Qualified Clean Vehicles Purchased in 2023 or After | Internal Revenue Service

Note, however, that details have changed from late 2022 to early 2023; and they'll change again in March.