Leftlane22
Member
That's what I did. I sold my 2023 Model S at a huge loss ($100K vs $70K) and then bought a very lightly used 2019 supercharged 5.0L V8 Jaguar XJL for $45K, which put $25K back in my pocket, and stopped the massive amounts of bleeding. The Model S values continued to tank and will continue to tank, but a year later, I could probably sell my Jag for about the same price I paid for it. No way will my Jag depreciate as much as what I would lose if I kept the Model S long term because the value of the Jag would have to go negative for that to happen. And the Jag is 1,000 times nicer and more fun to drive than the stripped down, rough riding, noisy and uncomfortable Model S, and the kicker is that the Jag is much more reliable than the Model S, which broke down on the side of the road at midnight after 5K miles!
lol - that Jag was around $100k when new so it lost 55% of it’s value and there is zero chance it doesn’t continue to depreciate. New cars depreciate - the old saying that you lose 30% when you drive off the lot seems accurate with the Tesla too. Not sure why people think they should be exempt from normal economic realities.