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HUGE DUMP of 2018 Inventory!
- Thread starter cellphonechris
- Start date
Kenriko
Former Vendor
You're right, the P3D is way better.
Tes La Ferrari
Active Member
I wonder what the depreciation curve of a p3d will look like. With a lower starting price, and a brand new car model, I wonder if it will hold better as a % than the p100dl x or s ?
Been watching used Tesla's values for the past 24 months. The prices seemed to hit a relative low in 2016, but have since rebounded. As % of value retained, Tesla's currently outperform all other electrics. Case in point, I'm currently looking at a 2015 BMW CPO i3 for a daily commuter car. Retailed for around $45K, but now selling for $15K. It's lost over 2/3 of sticker price (66% depreciation). Compare that to a 2015 Model S 60, which retailed for $75K, but is currently available as a CPO for $50K+. It's only lost 1/3 of sticker (33% depreciation). Granted, there are people who suspect that Tesla purchased inventory to artificially constrain supply of used vehicles (myself included), but anecdotally speaking, a used Nissan Leaf is cheaper than a comparable Sentra right now. Nobody seems to want them. Tesla is still a highly coveted brand and product and I wouldn't be surprised if the depreciation curve continues to be really flat over time. Battery and drivetrains seem to be holding up well past 100K miles and buyers may start discounting mileage when valuing car values.
islandchick
Closed
Maybe. But I have been turned off of buying a Tesla from my experiences, both here and by the company. I highly suspect there are many more like me. Sad because I have been saving and waiting for 10 years and now, *poof* no more dream.
Sunshine State
Automotive Enthusiast
The i3 is a bit of an anomaly of high depreciation. I just sold my like new 2015 i3 REX for a crazy low price IMHO due to the small demand. The i3 low value It may be because of its high original list price, controversial styling or a combination of both. The i3 is a way undervalued for used car, amazing performance and technology in a distinctive package. Tesla is a bit like Apple with a exceptionally loyal following paying top dollar originally and others who can’t afford the high entry price willing to pay an unrealistically high price on the used market to enter that Tesla fold. I do love our Tesla cars but they are way overvalued both new and used.
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Sunshine State
Automotive Enthusiast
If BMW manipulated the used car market by withholding inventory the i3 prices will be higher as well...
But I agree with the rest of your premise in that the i3 is a far less desirable car.
There are many great used Tesla deals to be had if you are careful and take your time. I've seen private party P100Ds in impeccable condition for the mid 90s. If you buy from Tesla, you better do your diligence though because their pricing is all over the place and you can totally get screwed overpaying for a car. I feel bad for anyone who bought a CPO P85D a few months ago when they were priced around $90K!
For all that Tesla has done to make the process of buying a new Tesla a wonderful experience, they've turned the experience of buying a used Tesla into a horrible experience given how their pricing is all over the place (up and down by tens of thousands in weeks) and how they try to sell some cars all beaten up in dismal condition without refurbishment.
If BMW manipulated the used car market by withholding inventory the i3 prices will be higher as well...
But I agree with the rest of your premise in that the i3 is a far less desirable car.
There are many great used Tesla deals to be had if you are careful and take your time. I've seen private party P100Ds in impeccable condition for the mid 90s. If you buy from Tesla, you better do your diligence though because their pricing is all over the place and you can totally get screwed overpaying for a car. I feel bad for anyone who bought a CPO P85D a few months ago when they were priced around $90K!
For all that Tesla has done to make the process of buying a new Tesla a wonderful experience, they've turned the experience of buying a used Tesla into a horrible experience given how their pricing is all over the place (up and down by tens of thousands in weeks) and how they try to sell some cars all beaten up in dismal condition without refurbishment.
I put a deposit down on a CPO...then I got the photos. The car looked like it had gone through a demolition derby. What a waste of time
Sunshine State
Automotive Enthusiast
Every car is different, you can find beat to death private sales and the same with CPO cars. The difference is Tesla wholesales cars that don’t meet a minimum standard and a private seller only has two options trading in for less or private sales. I have traded in dozens of cars in absolutely perfect condition because I don’t like to deal with selling privately. Those cars then became CPO cars.I put a deposit down on a CPO...then I got the photos. The car looked like it had gone through a demolition derby. What a waste of time
I put a deposit down on a CPO...then I got the photos. The car looked like it had gone through a demolition derby. What a waste of time
Yeah it is very embarrassing how they are selling beat up cars at these prices without any refurbishing.
They've basically come up with the best way to buy a new car and the absolute worse way to buy a used car.
After rejecting a couple of cars due to their awful condition, we have decided to no longer even consider a Tesla CPO for now and instead look for a private party car. We are not going to pay $65K for a beat up car.
no doubt. I think the onus is on tesla to provide comprehensive photos, especially since there is no physical location to view these cars. with other dealerships it's easy to drop by and take a look. hell, CPO's that I've bought out of state had photos online as well!
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It's interesting you said that because my experience has been that the overwhelming vast majority of the used private party cars for sale are actually in impeccable condition. Just for the heck of it look at the private party Model S cars for sale on this own site and you will have a really hard time finding a private party Model S that has been "beat to death."
I think the reason Tesla's CPO inventory got beat up, trashed, and damaged so badly is because they used the CPO inventory as loaner rentals and they were then driven hard by people who have absolutely no regard or respect for other people's property.
You know what could happen to your absolutely perfect condition trade? A few months in the Tesla loaner rental fleet and it would look just as banged up as the rest of some of the cars we have seen. So by the time your traded in car becomes a CPO car, it may not look anything like the car you traded in.
Also note that no other car manufacturer has an issue with selling trashed used cars. Everyone else from Hyundai to Mercedes has managed a way to sell quality like new used cars while making a healthy profit. Perhaps that has something to do with their CPO fleets not being loaned out to be trashed.
I hope in the not too distant future, Tesla will figure out a way to sell quality undamaged used cars that a customer can buy and drive home without being embarrassed about needing to take the car to a body shop for repairs and repainting.
I don't believe that Tesla allowed perfect CPO's to be turned into beaters by being used as loan cars, this simply is implausible. Having looked at a bunch of CPO's I can tell you there are some immaculate cars and there are some that have had a hard life. There are a number of CPO's that people have put deposits on that have been rejected at pickup, one that I know of has been rejected 4 times. If a buyer is going to buy a car without personally inspecting they need to have these cars checked out by an independent body, same rules apply for all brands, all dealerships and private sales. Buyers may have trusted Tesla in the past to refurb these cars (in some cases turning beaters into nice looking examples), that era has finished and Tesla is now just a regular car dealership. The only point of difference that Tesla offers is the used warranty, and that is very valuable, private sellers seem to ignore this when pricing their cars for sale. All Telsa's are headed to $0 value, non of these are going to be collector items, there are simply to many of each model around. In two years I'll be back in the market looking for a nice P100D for $60K, my P85D will be worth $40k but I'll be advertising it here without much of a warranty for $50K hoping for a buyer
Sunshine State
Automotive Enthusiast
The quality of photos makes a huge difference. I have to admit I have never seen lower quality photos than the ones most private sellers post on this site. It then amazes me how then other people comment how gorgeous the car is. Pictures sent by Tesla include closeups of any damages. Closeups of any damage are extremely rare by a private seller. Many private sellers here often include zero photos and when they do they include distance shots of the entire car so you can’t spot any flaws and don’t even include interior pictures. Are these the impeccable cars you are describing?
Sunshine State
Automotive Enthusiast
I don't believe that Tesla allowed perfect CPO's to be turned into beaters by being used as loan cars, this simply is implausible. Having looked at a bunch of CPO's I can tell you there are some immaculate cars and there are some that have had a hard life. There are a number of CPO's that people have put deposits on that have been rejected at pickup, one that I know of has been rejected 4 times. If a buyer is going to buy a car without personally inspecting they need to have these cars checked out by an independent body, same rules apply for all brands, all dealerships and private sales. Buyers may have trusted Tesla in the past to refurb these cars (in some cases turning beaters into nice looking examples), that era has finished and Tesla is now just a regular car dealership. The only point of difference that Tesla offers is the used warranty, and that is very valuable, private sellers seem to ignore this when pricing their cars for sale. All Telsa's are headed to $0 value, non of these are going to be collector items, there are simply to many of each model around. In two years I'll be back in the market looking for a nice P100D for $60K, my P85D will be worth $40k but I'll be advertising it here without much of a warranty for $50K hoping for a buyer
To be honest regular high line car dealers, at least large ones have their own body shops and like any business like to make money. Before retailing a car, if it is of value, it is made frontline ready. Dealers do PDR (paintless dent removal), bodywork if necessary, wheel repair, tires, clean, detail and then sell. If the car isn’t up to their standards they wholesale either privately or by auction to small less scrupulous dealers to retail out at cheaper pricing.
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