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Help with valuation

Discussion in 'Model S' started by Cooksomerice, Jul 15, 2017.

  1. Cooksomerice

    Cooksomerice Member

    Joined:
    Oct 6, 2016
    Messages:
    96
    Location:
    Louisiana
    I was just approached by a friend to buy my MS. Only considering it to upgrade or move to MX.

    No idea of value.
    2016 May build. Facelift.
    MS 75
    AP1 only option. Everything else is stock.
    Body and interior 9.5/10.
    22K miles.
    I paid 62K 7 months ago from Tesla CPO.
    Any thoughts or guidance are appreciated.
     
  2. zackmilo

    zackmilo No chrome for me!

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    Location:
    Los Angeles, California
    Offer $62k. Value is $60k trade and $63.9k private party
     
    • Like x 1
  3. zackmilo

    zackmilo No chrome for me!

    Joined:
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    pic from kbb Screen Shot 2017-07-15 at 7.51.01 PM.png
     
    • Helpful x 1
  4. Tesmotorfaqcom

    Joined:
    May 28, 2017
    Messages:
    37
    Location:
    Los Angeles
    If you consider the new 75 with power liftgate, glass roof, new drive unit and AP 2.0 hardware starting under 70k, how can you this car be worth 60k being the car have at least 2 owners? Also Louisiana have state rebate on EV so that's $10,000 off just due to tax credit.
     
  5. Cooksomerice

    Cooksomerice Member

    Joined:
    Oct 6, 2016
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    Location:
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    Louisiana credit at $1500.00 currently.
    Also, their first reaction to my 2016 return was to deny the credit pending submission of various supporting documents.
     
  6. whitex

    whitex Active Member

    Joined:
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    Seattle area, WA
    So a new buyer would get $7,500 federal + $1,500 state, so $9,000. New 75D is $69,500 + $1,200 - $1,000 referral, so $69,700. After tax rebates that new 75 is $60,700. Compared to a car from May 2016, the new one has:
    • full 4 year, 50K miles bumper to bumper warranty
    • over 1 year longer drive-train warranty (8 years from delivery rather than from May'16)
    • power liftgate standard
    • supposively 1s faster 0-60 and whatever drivetrain upgrade that entails
    • AP2 hardware
    Figure your own evaluation of what that is worth, then add to that over a year of depreciation. What you have going for you is that AP1 was $2,500 while EAP is $5,000, but that is a benefit only if someone wants AP of course, and the fact that there aren't that many 1 year old base 75's in the marketplace.

    Selling to a friend is a risk in the first place, but if you are ok with that, I would disclose all of the above and then ask the friend to make an offer. Friendships are worth more than a few grand.
     
    • Like x 1
  7. whitex

    whitex Active Member

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    #7 whitex, Jul 20, 2017
    Last edited: Jul 20, 2017
    Couple more potential benefits of new vs. used:
    1. Lower interest rate loan
    2. Trade-in sales tax credit - this is state dependent but at Tesla price range this could be a few thousand (it's 10% of trade in value in WA state)

    Maybe the best would be for the friend to take their trade-in to Tesla, figure out how much down and what monthly payment they would be paying. Then, do the same with buying your used car scenario, then compare the two accounting for the new car advantages I listed in the previous reply.
     

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