I was in the same boat but said F it im getting it end of quarter 1 2021 in March this year. I was bummed in the beginning losing out on potential 7500 tax credit federal from joe Biden but my model y already appreciated 23k lol. I literally have offers for 23k more than I paid and that’s including all the taxes fees I already paid. Just something to think about….
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Imagine all of you that keep pushing your model y reservation for the ev credit
- Thread starter Dz2000
- Start date
Better get that money quick. Every day Austin comes closer and closer to pumping out Model Y's. The appreciation you are seeing is temporary, mass produced cars do not typically appreciate. The used car market is in the Twilight Zone, but again, temporary.
I also took delivery in March. While I thought about waiting for the credit to return to Tesla, the reality is I was ready to buy now and inventory was depleting quickly. In retrospect, it was a great decision as both gas prices and Tesla prices (new/used) have gone up significantly.
That said it was more luck than anything. As others have said this jump upwards in pricing is temporary and due to a unique set of circumstances where COVID shutdowns + chip shortage + inflation has driven up the cost of everything for a set amount of time. Reality will return.. when you least expect it. I easily imagine another scenario where gas prices could have dropped back to $2 again, Tesla prices could have also dropped (as this is generally their trend).. and the tax credit could have been reintroduced for all manufactures with an even bigger bonus of like $10K or $12.5K. It was really all a guessing game and I just happened to bet on the right choice.
I certainly hope the credit does return. Good chance I'll sell my car then and buy one with more range and/or performance.
That said it was more luck than anything. As others have said this jump upwards in pricing is temporary and due to a unique set of circumstances where COVID shutdowns + chip shortage + inflation has driven up the cost of everything for a set amount of time. Reality will return.. when you least expect it. I easily imagine another scenario where gas prices could have dropped back to $2 again, Tesla prices could have also dropped (as this is generally their trend).. and the tax credit could have been reintroduced for all manufactures with an even bigger bonus of like $10K or $12.5K. It was really all a guessing game and I just happened to bet on the right choice.
I certainly hope the credit does return. Good chance I'll sell my car then and buy one with more range and/or performance.
Similar mentality to Daekwan, although I have the added situation where my lease is up this November and need a new vehicle. I've wanted a Tesla for a long time and now's the time to do it as any.
I equate buying a car in these times akin to home buying - you can't time the market/government/whatever so you just do what's best and deal with it. If the home appreciates - great, if it plummets - that's life. I know that a vehicle, especially a brand new shiny Tesla, isn't a requirement for living unlike having a roof over your head, but it's the buying principal behind it that keeps it sane; at least for me personally. Endlessly chasing a probable EV credit is something I just don't have the time for right now. If it happens a year, two, three, etc. years from now I'll reassess and deal it with then.
I equate buying a car in these times akin to home buying - you can't time the market/government/whatever so you just do what's best and deal with it. If the home appreciates - great, if it plummets - that's life. I know that a vehicle, especially a brand new shiny Tesla, isn't a requirement for living unlike having a roof over your head, but it's the buying principal behind it that keeps it sane; at least for me personally. Endlessly chasing a probable EV credit is something I just don't have the time for right now. If it happens a year, two, three, etc. years from now I'll reassess and deal it with then.
Clark_Kent
Member
Where are you getting offers from for $23k more than you paid?
I'm guessing that's a typo and OP meant 2-3K, otherwise you'd be a fool not to sell it immediately.
Y’all waiting for the credit to come back do know that Tesla would immediately raise their prices to claw back 80% of it, right?
Each time the credit was phased out, Tesla lowered their prices to compensate most of the difference. The EV credit is ultimately an incentive for EV manufacturers more than EV buyers.
Each time the credit was phased out, Tesla lowered their prices to compensate most of the difference. The EV credit is ultimately an incentive for EV manufacturers more than EV buyers.
They'd more likely leave the price at the current "supply difficulties" level to which they've increased it.
This used car market is insane. I’m getting nearly what I originally paid for my 2020 model 3 LR on my trade in.
Clark_Kent
Member
If you have a price locked in, like I do, they cannot raise the price. Well, they can on new orders, placed after the price increase. I have our car locked in at $49k base, for example, and now they are $53k base.
So it might be worth a $100 deposit to hold a car at a locked-in price if the tax credit would move you to buy another or a new vehicle. Our order is over a year old now.
I have seen many people in different threads mention that Tesla no longer let you hold orders that long. 90 days at most. I guess it's YMMV.
If someone is drunk enough to offer you MYP money for your Standard Range then you accept it before they realize their mistake.
But whoever buys it is in for a heap of regret when a 2020 MY Long Range is listed on the Tesla For Sale FB group for $58K WITH FSD. I think those $64-67K offers can’t be serious or they think every MY comes as Performance standard. Some people simply don’t know any better.
Seriously - I'd buy a nice bike and a Bird scooter and commute on that until a new Tesla gets delivered to me!
As @man9527 mentioned, I've seen various reports about the price holds and how long they're good for. When I placed my order, I was told 6 months. Maybe things have changed since your order. My partner went in for a test drive and they told her that prices are now locked in for 90 days. It doesn't seem like your price has changed at all, so fingers crossed for you.
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