Don't Purchase FSD for current owners ($6K) until you read this

[MARKM3]

Folks,

I just checked the KBB trade in value of my car I took delivery on in december of 18:

$47,000 - AWD Aero long range metallic silver with white interior + autopilot upgrade with 10,000 miles

Right now for me to update my car to FSD it is an additional 6k (absolute ridiculous price).

A brand new 2019 equally equipped right now is $57,500 WITH FSD.

Trade in + FSD value = $53,000. With the tax credit, you're almost breaking even again if you can take advantage of it if you buy another EV (not sure).

Amazing. It will be interesting to see if the market will bite on that price once FSD gets regulatory approval.

 

[Twiglett]

Err - trade in for what exactly.
Surely you’re not expecting to get that KBB valuation from Tesla?

 

[MARKM3]

Err - trade in for what exactly.
Surely you’re not expecting to get that KBB valuation from Tesla?

Was just an observation on my end for folks that don't realize how much cheaper these cars have become since last year. Your local market and results may very. I've always traded my car in for KBB value.

 

[Twiglett]

Was just an observation on my end for folks that don't realize how much cheaper these cars have become since last year. Your local market and results may very. I've always traded my car in for KBB value.

So you got the KBB value trading in a Tesla for another Tesla?

 

[MARKM3]

So you got the KBB value trading in a Tesla for another Tesla?

No, I wouldn't trade my car to tesla but a car dealership.

 

[Nocturnal]

I see what you are going for but doesn't that suggest that KBB is wrong?

 

[navinsiri]

Getting KBB on a trade in for a Tesla, especially a Model 3, is a dream. No dealers want to sell these cars and Tesla knows people would rather buy a new one for a couple thousand more. A few months ago the KBB trade in for my Performance 3 was 53. Highest offer I got was 48k. This month KBB for our RWD is 42k. Highest offer was 38.5k

 

[saltsman]

KBB, NADA and even Edmunds and Cars.com are notoriously bad at calculating vehicles that have tax credits or large rebates attached. Contrary to their claim, they aren't monitoring auction prices but use an algorithm to value off average sales price when new. Since so few 3's have gone to auction, I don't think there is any real support for what the market truly is.

With that said, add-on features (and especially software enhancements) only return pennies on the dollar for any car at resell. I can't see how a yet-to-be approved feature would ever resell well. If you are planning on trading in a few years, you'll likely never see FSD in action.

 

[Twiglett]

So what was the point of showing the trade in price for the model 3 and comparing to the new price if you can’t actually execute the trade?

 

[ewoodrick]

Anyone trading in a 2019 car is going to take a bad veatibe .A 2018 will also take a beating, but if you're had it a year, you at least got usage

And if you bought AP or FSD and expected to sell before the technology got implemented, well

I bought and expect to keep my car for over 3 years.

 

[commasign]

You should upgrade to FSD for $6000 if you want FSD, not for any other reason (trade-in value or otherwise).

 

[OCR1]

Ask prices for used Model 3’s have been unrealistic. Everyone is eligible for the $3,750 federal tax credit (assuming you owe at least this much in taxes). Other rebates/discounts vary by State so some States may be less competitive than others. In California, we get an additional $2,500 State rebate, and I get a $1,000 Edison rebate. When I factor in these rebates and credits the cost of a brand new Model 3 cost less than the lowest price used Model 3 I could find on my last search.

This will eventually even out when these rebates go away but for now it makes little sense to buy a used Model 3.