Not Available General interest in salvage model 3 cars for under $25K ($21K after tax credit)?

[evrepair]

Hello,

I am thinking of starting to rebuild some older model 3s to sell for just under $25K, which means after tax credit, to most buyers it would cost $21K.

Is this something that people here would be interested in? For example, such car may be a 2018 or 2019 RWD model 3 with perhaps 60-100K miles with salvage title.

 

[SteelClouds]

That’s not how the tax credit works. There may be some local rebates but the used car federal tax credit has to be from a dealer
Beginning January 1, 2023, if you buy a qualified previously owned electric vehicle (EV) or fuel cell vehicle (FCV) from a licensed dealer for $25,000 or less, you may be eligible for a previously owned clean vehicle tax credit under Internal Revenue Code Section 25E.
You need to become a licensed dealer which is not quite as simple as it sounds .

You also want to consider liability in selling a used car that you repaired. In many states if something happens after the sale that results in damage or harm, you can be on the hook. One way I’ve seen this bypassed is the car is repaired then sold via auction “as is”. You don’t make as much though.

 

[evrepair]

I will be selling through a dealership that I work with.

 

[bkp_duke]

I will be selling through a dealership that I work with.

The car can only have the credit claimed once in the lifetime of the car. Not sure how they track that.

Full regulations here:

Used Clean Vehicle Credit | Internal Revenue Service

If you buy a qualified used electric vehicle from a dealer for $25,000 or less, you may be eligible for a clean vehicle tax credit of up to $4,000.

www.irs.gov

 

[SteelClouds]

You might want to watch this.. it's about the newest Ys with the new castings front and rear. In short, if the casting is damaged, the car is a complete write off. And I can see how it would be almost impossible to inspect and verify the casting is good at an auction house yard. I know you are asking about older M3s but this is the direction things are going and I find it very interesting as an ex body man.

 

[evrepair]

Thank you, seen all Sandy’s videos.

Tesla body repair manual has instructions on repairing gigacastings. I have repaired many Teslas already, I know what I am doing.

I am only wondering what the market is like for a sub 25k model 3. Looks like not much interest. I will keep fixing newer ones.

 

[SteelClouds]

I’ll have to check the manual out now. You have me curious

 

[gaswalla]

Tesla is selling used 3's with a warranty (1yr) for 29.9k.
I think they are boxing out folks like yourself who are working hard and creating value from cars with low value.. also boxing out used car resellers and prior owners

 

[SteelClouds]

True. I just picked up a M3 2019 with 34k miles. 1 extra year warranty for 30k even from Tesla. Car looks almost brand new. Price beat every dealer I looked at or went to. A few were lower but had really high miles

 

[evrepair]

Wow that's cool. These cars are finally getting affordable.

 

[hugenbdd]

Doesn't appear that any Tesla is eligible for the used credit. Not sure why but it's not listed on the IRS website. Maybe Tesla just hasn't sent them the info they want just yet???

"Manufacturers of the vehicles listed below have provided appropriate information and have indicated that the vehicles are eligible for the credit provided other requirements are met. "

Used Clean Vehicle Credit | Internal Revenue Service

If you buy a qualified used electric vehicle from a dealer for $25,000 or less, you may be eligible for a clean vehicle tax credit of up to $4,000.

www.irs.gov

 

[TLLMRRJ]

True. I just picked up a M3 2019 with 34k miles. 1 extra year warranty for 30k even from Tesla. Car looks almost brand new. Price beat every dealer I looked at or went to. A few were lower but had really high miles

Wow, just think how little the original owner got back in trade in!

 

[SteelClouds]

Wow, just think how little the original owner got back in trade in!

It was a lease return.. but your point is well taken

 

[Mromano]

What is the best way to see all the Tesla inventory? I'm a pilot and have the ability to fly anywhere to pick up a car and would do it, but it seem like I can only see in my local area.

 

[TLLMRRJ]

What is the best way to see all the Tesla inventory? I'm a pilot and have the ability to fly anywhere to pick up a car and would do it, but it seem like I can only see in my local area.

Won’t work with new inventory. The cars are restricted in the states they can be registered because of the whole not a dealer thing.

 

[Mromano]

Won’t work with new inventory. The cars are restricted in the states they can be registered because of the whole not a dealer thing.

Ohh, so I have to see the cars that within 200 miles of my home zip code? Weird, but hey, whatever.

 

[TLLMRRJ]

Ohh, so I have to see the cars that within 200 miles of my home zip code? Weird, but hey, whatever.

You can buy within the state, and some cars can be registered in multiple states.

There are websites that show all the inventory, or you can just put in difference zip codes of major cities in your state.

There's a ton of never ending weird things about buying a Tesla because they are not a dealer and each state is different with their laws.

 

[KJD]

What is the best way to see all the Tesla inventory? I'm a pilot and have the ability to fly anywhere to pick up a car and would do it, but it seem like I can only see in my local area.

Take a look at this site.
https://ev-tsla.com

You can talk to a local tesla store to find out what the restrictions are for the state you live in.

 

[gaswalla]

Ev-cpo.com

 

[Krash]

I’m locking this thread.

This forum is a place to sell actual individual cars, not a place to theorize about vendor models for multiple cars.