Has the used/CPO Model S market dried up?

[TigerNinety]

Hello,

Sadly, it seems that my 2016.5 MS 75D has been totaled. I won’t go into all the details (we weren’t at fault), but I’m going to be looking for another 2016.5 or later Model S 75D, almost certainly used. However, quick searches right now show only a handful available through Tesla or even private sales across the US (literally, a single handful).

What’s up with that? Is this part of the national shortage of cars because semiconductors can’t be gotten (so people who want new Teslas are buying used)? Is it a drop in trades to Tesla because people are waiting for the new models to start being available later this year? Something else?

Thanks,

Todd

 

[glide]

All used vehicles are in demand and in short supply. This includes Tesla’s.

 

[AMPd]

Hello,

Sadly, it seems that my 2016.5 MS 75D has been totaled. I won’t go into all the details (we weren’t at fault), but I’m going to be looking for another 2016.5 or later Model S 75D, almost certainly used. However, quick searches right now show only a handful available through Tesla or even private sales across the US (literally, a single handful).

What’s up with that? Is this part of the national shortage of cars because semiconductors can’t be gotten (so people who want new Teslas are buying used)? Is it a drop in trades to Tesla because people are waiting for the new models to start being available later this year? Something else?

Thanks,

Todd

Have you missed the fact that Tesla hasn’t been producing the model s for about 6 months now? Of course the market will start to dry up when no new models are being sold.

 

[Tiger]

We chose to weather out in a Model 3 LR until there are more proven options, CT, Lucid, EQS, Rivian, ...

 

[DSolie]

When the refresh models start to come off the line you will see a good flood of used S's come into inventory.

 

[sdq_11]

I scoured Tesla’s website along with vroom and ev-cpo for three weeks before “settling” on a 2018 75D. Good luck, the market is nuts. Cars getting sold within hours

 

[Ostrichsak]

FYI ev-cpo is just an aggregate of Tesla's used cars so if you're using both you're doubling up on the amount of work to receive the same results. Still lots of private party cars available and given the shenanigans that Tesla has been pulling for it's used cars lately I wouldn't have them as the first source for used Teslas at this point anyway.

 

[EV-CPO]

Honestly, in this hot, contentious market where cars come and go in minutes, it's quite possible to find a new car listing on Tesla's site before EV-CPO has a chance to pick it up. If the car is quickly sold, EV-CPO might never see it. So if people are very motivated to find a good deal, using both sites would be a good strategy. Tesla.com to keep searching your local areas, and EV-CPO to consolidate all other areas you can't easily do on Tesla's site.

 

[sdq_11]

FYI ev-cpo is just an aggregate of Tesla's used cars so if you're using both you're doubling up on the amount of work to receive the same results. Still lots of private party cars available and given the shenanigans that Tesla has been pulling for it's used cars lately I wouldn't have them as the first source for used Teslas at this point anyway.

Yes i am aware. But As EV stated above, it was a timing issue. I saw a few cars that were on tesla's website that were not on ev-cpo and vice versa as well.
My point was I leveraged all resources and struck when I found something. That is how hot the used market is at the moment.

 

[Cal1]

We've got a Plaid + on order and will be selling our current 2017 MS. Of course delivery estimates are SWAG's, sometime next year.

I've been contemplating selling now but wonder how much more we could get in the current market. If it would add say 10K we'd sell and drive our truck until delivery. A couple grand more would not be worth the inconvenience.

It's a 90D with FSD and upgraded hardware installed. MCU1 covered by recall but not installed. 49kmiles

 

[DrJFoster]

Yes i am aware. But As EV stated above, it was a timing issue. I saw a few cars that were on tesla's website that were not on ev-cpo and vice versa as well.
My point was I leveraged all resources and struck when I found something. That is how hot the used market is at the moment.

My experience is cars on ev-cpo that aren't on Tesla are cars that have recently been sold but not yet removed from ev-cpo - its not easy to stay 100% in sync so totally understandable if a little disappointing when you think you've found a bargain.

tesla-info is another option as they sometimes say they have hidden tesla inventory as well as the usual Tesla inventory, they also aggregate from other 3rd party listings like onlyusedtesla, findmyelectric and truecar in the US. If you're after a deal, its worth checking all of them.

 

[David_Cary]

I have to think so many refresh order people have already sold their S's or are not coming from an S that I wouldn't expect a flood of inventory coming from that. But what do I know?
Bad time to need a car or a house. Or maybe just somewhat new reality.

 

[anoldsole]

I don't know if this is the new reality, there are supply change issues that are affecting the supply of new cars that should improve eventually.

 

[Jabbahop]

I have a 2019 Model S long range (raven) with FSD and 57K miles that I am considering selling to buy a 2021. What resources should one use to properly price a model S for private sale? I’ve seen some listed on car sites for what seem high prices so not sure what market price is these days since Tesla trade offers are so low.

 

[Jpandes]

I have been searching for almost a month for a 2017+ P100D. It's been brutal. If you want to buy from Tesla.com, you may need to check their used listings every night after midnight. That's when I see new listings for used vehicles. I am happy to say that I was able to order a 2017 P100DL w/ 17k miles two nights ago. I hope the car checks out when I finally get to see it in person.

Vroom also seems to get lots of MS's Although, it seems like their cars are stripped of features (i.e.: No ludicrous, No FSD, etc.) I think they are buying cars from tesla's auctions where tesla deactivates the upgrades before they resell the cars... I could be wrong.

 

[travwill]

We set an alert on Carvana and by the time get one the inventory is already gone immediate or on hold with someone else.

For Tesla's inventory, the prices seem too high if you get into a 90D or long range (plus) or above for what you get. At the prices those go for it almost seems better to just go with a new refresh model that will have much higher range, latest air suspension, internal camera/external camera hardware, displays, seats, etc.

 

[TLLMRRJ]

We've got a Plaid + on order and will be selling our current 2017 MS. Of course delivery estimates are SWAG's, sometime next year.

I've been contemplating selling now but wonder how much more we could get in the current market. If it would add say 10K we'd sell and drive our truck until delivery. A couple grand more would not be worth the inconvenience.

It's a 90D with FSD and upgraded hardware installed. MCU1 covered by recall but not installed. 49kmiles

To make that decision, how can you know what your 2017 will be worth in more than a year? A lot could happen to raise or lower the resale price of your 2017 by then.

 

[David_Cary]

What feasibly could happen that would raise a 2017's price from right now?
An oil shock perhaps but hard to see how that would happen for an extended period of time given the large domestic production. Ecoterrorism perhaps but it would have to be coordinated and sophisticated to make a lasting impact.
A worsening chip shortage - perhaps - but that seems unlikely.
Inflation spike overall - hard to imagine that happening strong enough to not scramble everything including new Model S prices.

We all have to make predictions on pricing to make rational decisions. They might be wrong but you still make them. My 2015 is worth $30k today and $25k in 12 months (or $22k). I make this calculation to balance it against, a new Y is $52k and in 1 year will be worth $43k. A renewed tax credit can really scramble these but it is hard to come up with a situation that makes the 2017 worth more than it is now.

 

[DrJFoster]

I have a 2019 Model S long range (raven) with FSD and 57K miles that I am considering selling to buy a 2021. What resources should one use to properly price a model S for private sale? I’ve seen some listed on car sites for what seem high prices so not sure what market price is these days since Tesla trade offers are so low.

I tend to find a similar car on tesla-info.com and then you can see market plots of price by mileage, market trend etc, They've now also added how long cars have been listed to help spot the stupidly high prices. In the UK they pull together all the main listing sites, not sure how good this is in the US but on facebook they've recently said they've added findmyelectric to tesla inventory, only used tesla and truecar which seems quite a few sources of used cars

You'll have to make an adjustment if you think yours is better or worse than average but I'd suggest its a reasonable starting point.

 

[Cal1]

I'm thinking my S would be worth less next year assuming used car availability will be be better. Seems like it is worth more today. The question is whether it would be worth selling now vs waiting. There is almost no used S inventory on CL, FaceBook Mkt place, etc.