Help me decide which one to sell - Old Model S or New Model Y?

[midnightblue]

I have a used 2016 Model S that has Enhanced Auto Pilot and a 2022 Mode Y that has FSD. I like the ride quality of my Model S and it's a red one so I steal looks from time to time. I posted on CL intending to sell and I got over 10 responses and a couple of them serious ones. I will be able to sell it for almost the same price as I paid for it three years ago, less taxes (thank you inflation and chip shortage). The Model Y I got in the last week of December was based on the pricebook of 2019 when I made the reservation so based on the current price, I got it for almost 16k less than what it would cost today. I don't like the noise and ride quality of Model Y but like the higher profile and bigger storage area. And it is brand new. Anyway, I posted on CL to sell the car for almost 5k less than what it would cost today (I will still make around 5k in profit because **** California, they collect sales tax every time there's a sale), and I got over 40 responses and one as serious as coming down in two hours with a cashier's check. My wife doesn't like Model Y at all and I am not a big fan either.

In summary, reason to keep Model Y is, it's new and it has FSD - something I feel LA roads need. Reason to sell Model S is, it is old (almost 6 years old and the battery warranty is just around the corner) and I am getting most of my money back.

 

[DanDi58]

I think you answered your own question - "My wife doesn't like Model Y at all and I am not a big fan either." Especially the first part. Or sell both and get a new Model S.

 

[thecavalry]

Be very cautious about fake cashiers checks. I would meet them at their bank and verify the check before signing any titles over.

It’s too easy to get ripped off.

 

[Watts_Up]

Be very cautious about fake cashiers checks. I would meet them at their bank and verify the check before signing any titles over.

It’s too easy to get ripped off.

And keep the DMV Title until the transaction is completed and all the money is transfered ito your account.

Best, keep the car until the transsaction is over.

My answer: (Since price is not the main consideration) Get the new Model S, just because of the air suspension.

 

[deadpoolvan]

And keep the DMV Title until the transaction is completed and all the money is transfered ito your account.

Best, keep the car until the transsaction is over.

My answer: (Since price is not the main consideration) Get the new Model S, just because of the air suspension.

Do you know if escrow companies handle transactions like this for a fee? They get the money, and then transfer the title over and I get paid. Just like a house is sold.

 

[thecavalry]

Do you know if escrow companies handle transactions like this for a fee? They get the money, and then transfer the title over and I get paid. Just like a house is sold.

There are escrow companies that handle vehicle sales, yes. I don’t know what their fees are, to be able to tell you if it’s worth that effort.

Escrow.com is the one that eBay uses for their vehicle transaction, I believe.

 

[Watts_Up]

This can be useful to look at: DMV virtual release of liability and title transfer.

Title Transfers - California DMV

When you buy a vehicle, you need to transfer the vehicle’s title to establish yourself as the new legal owner.

www.dmv.ca.gov

 

[JNM67]

Don't keep a car you don't like!

 

[Casss]

Does the used value of the model s plummet once it’s out of the drivetrain and battery warranty? I’d consider that a relevant consideration for you question (and would assume the answer is probably yes, depending on the spec)

 

[Jbiddy]

Sell both and get new S

 

[jason330i]

Sell both and get new X

 

[Wolfhausen]

Sell the model S and put Ohlins on the model Y to sort out the ride.

 

[tangible1]

Sell BOTH. Get the new MS. Take the free 6 years of the MS plus the 10-15K profit on the MY and run. Be done.

 

[deadpoolvan]

Sell BOTH. Get the new MS. Take the free 6 years of the MS plus the 10-15K profit on the MY and run. Be done.

Sold the Model Y. Made close to 7K since I already paid CA state sales tax (some 7k) and had to discount 3k+ to sell it in the secondary market. Not a bad deal considering all things. I got to drive Model Y for over a month and realize what a piece of *sugar* car it is and got paid 7k for learning the lesson that Tesla is a very sleazy company (with great tech but with very low morals or ethics in business). Decided to keep Model S because it really feels like a luxury car after seeing the Model Y. I will go buy a GLE or MDX for the wife - at least the ride will be comfortable for her.

 

[deadpoolvan]

Sell the model S and put Ohlins on the model Y to sort out the ride.

Decided to sell Model Y. Didn't want to throw good money at bad money by sinking in more money into customizing it. Even when I got it about 17k cheaper compared to current config, I still spent 66K out of pocket and I shouldn't be spending more money just to make it comfortable. It doesn't feel like a luxury car anyway. (My 20K Camry from 2005 had better ride quality a decade ago).

 

[deadpoolvan]

Does the used value of the model s plummet once it’s out of the drivetrain and battery warranty? I’d consider that a relevant consideration for you question (and would assume the answer is probably yes, depending on the spec)

This is a great point. I am keeping my Model S for now but given the used car values, it is a great deal to sell it right now, and use the money to buy some other car.

 

[deadpoolvan]

Don't keep a car you don't like!

Agreed. Sold the Model Y finally.

 

[deadpoolvan]

There are escrow companies that handle vehicle sales, yes. I don’t know what their fees are, to be able to tell you if it’s worth that effort.

Escrow.com is the one that eBay uses for their vehicle transaction, I believe.

I wrote a contract with the buyer with the terms of the purchase. Attached pictures of our driver's licenses on identity pages of the contract. Then went to the buyer's bank along with the buyer and had him wire the money to my account. After the wire transfter and the bank employee confirmed the money is indeed wired into my account, I signed the pink slip and gave it to him. The wire appeared a couple of hours later in my account - I was a bit antsy until I saw the amount in the account but going to the bank and bank teller verifying was very comforting for me to sign the title away. The buyer must be a great con artist to pull the wire transfer sham (and neede support from the bank staff) in case if it was really a scam so I had to go with some calculated risk to get it done.

 

[tangible1]

I wrote a contract with the buyer with the terms of the purchase. Attached pictures of our driver's licenses on identity pages of the contract. Then went to the buyer's bank along with the buyer and had him wire the money to my account. After the wire transfter and the bank employee confirmed the money is indeed wired into my account, I signed the pink slip and gave it to him. The wire appeared a couple of hours later in my account - I was a bit antsy until I saw the amount in the account but going to the bank and bank teller verifying was very comforting for me to sign the title away. The buyer must be a great con artist to pull the wire transfer sham (and neede support from the bank staff) in case if it was really a scam so I had to go with some calculated risk to get it done.

Congrats. Got it done. Next car up !!!!

 

[ElectricAnt54]

I have a used 2016 Model S that has Enhanced Auto Pilot and a 2022 Mode Y that has FSD. I like the ride quality of my Model S and it's a red one so I steal looks from time to time. I posted on CL intending to sell and I got over 10 responses and a couple of them serious ones. I will be able to sell it for almost the same price as I paid for it three years ago, less taxes (thank you inflation and chip shortage). The Model Y I got in the last week of December was based on the pricebook of 2019 when I made the reservation so based on the current price, I got it for almost 16k less than what it would cost today. I don't like the noise and ride quality of Model Y but like the higher profile and bigger storage area. And it is brand new. Anyway, I posted on CL to sell the car for almost 5k less than what it would cost today (I will still make around 5k in profit because **** California, they collect sales tax every time there's a sale), and I got over 40 responses and one as serious as coming down in two hours with a cashier's check. My wife doesn't like Model Y at all and I am not a big fan either.

In summary, reason to keep Model Y is, it's new and it has FSD - something I feel LA roads need. Reason to sell Model S is, it is old (almost 6 years old and the battery warranty is just around the corner) and I am getting most of my money back.

In California, the buyer pays the sales tax “use fee” that you lamented about when selling your S. I think it is around 7% but can vary by region.