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Is it possible to find a LR under $40,000?

Discussion in 'Model 3: Ordering, Production, Delivery' started by 1LE McQueen, Jan 6, 2020.

  1. 1LE McQueen

    1LE McQueen Member

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    Either the RWD LR or the AWD LR.. I've been looking through Autotrader - Cars - Edmunds - Craigslist - KBB, all throughout the states, and I can't seem to find a (clean title, fair mileage) M3 cheaper than $40,000.

    Any advice would be appreciated. Should I wait another year or two? I was hoping to find a LR M3 with FSD, which I understand is completely unrealistic, for under or around 40k.. But, really, a LR for under 40 would be nice.

    What have you all seen so far? What're the better sites to use to find a good priced M3?
     
  2. mtndrew1

    mtndrew1 Active Member

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    There just aren’t many of these cars for sale and a very tiny percentage are leased so there won’t be a big wave of them on the used market at any point like Leafs or Bolts.

    I have a LR RWD car and there’s no way in hell I’d sell it for $40k.
     
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  3. 1.21GW

    1.21GW Member

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    It will be interesting to see that residual values are after a couple years. Anyone’s guess at this point.

    also, no way I’d sell mine for $40k
     
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  4. Yang_H

    Yang_H Member

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    I tried hard to find good used M3 too and found their prices were way too high, often higher than new M3 which is hard to understand why. I ended up buying a new SR+.
     
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  5. 1LE McQueen

    1LE McQueen Member

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    Yeah the going census seems to be well above 40k lol but there is also a problem in that a lot of people are asking for the same, if not more, than what they bought their M3 for.

    It might just be too early but I was hoping you've all seen a thing or two or could point me in a direction that might make sense. Buying new is out of the picture unfortunately.
     
  6. mtndrew1

    mtndrew1 Active Member

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    I think your only hope is a bunch of 3 trade-ins when the Y comes out, which I think is plausible. Might drive the resale down a bit on the 3.
     
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  7. 1LE McQueen

    1LE McQueen Member

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    Great point! I didn't even think about that.
     
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  8. Dorkiedoode

    Dorkiedoode Member

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    I might possibly do a trade in for a Y. No way I’ll sell for under 40 either lol.
     
  9. 1LE McQueen

    1LE McQueen Member

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    How's the market with higher-priced used M3's? As I understand it, the Tesla stores are still selling them like hot cakes. More M3's sold means more saturation which I was hoping means better value for used car buyers.
     
  10. Az_Rael

    Az_Rael Supporting Member

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    Vroom offered me $33k for my 2017 LR RWD with EAP and FSD when I briefly flirted with buying a Stealth. Maybe keep an eye on them and see if they list them for sale at correspondingly low prices.
     
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  11. rhaekar

    rhaekar Member

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    $40k doesn't seem too bad. I paid $55k with EAP, got 10k back. I've driven it for almost 2 years.
     
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  12. boriszima

    boriszima Member

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    I agree once Model Y comes out later this year, will help to lower Model 3 prices. Also leases only started last year, so will take 1 or 2 more years.

    also at 40K budget, why not go for SR+ to get a brand you Model with smaller range?

    as we see Tesla holds best used prices for any EV.
     
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  13. savi

    savi Member

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    How much are LR RWD selling for? I have a 3/2018 build with EAP that I’m flirting with selling.
     
  14. OCR1

    OCR1 Active Member

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    This is not a good time to buy a used Model 3. Tesla has zero inventory of new or used vehicles. The federal tax credit is gone, so the used cars no longer have to compete with new car pricing being subsidized. And the LR RWD model is no longer available so anyone wanting the longer range battery is looking at an AWD car for a new purchase, making the used LR RWD models even more attractive.

    This all could change if Tesla ramps up production or demand softens. But until that happens I’d say buying a used Model 3 for under $40K is not going to happen.
     
  15. praxis220

    praxis220 Member

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    Yeah sure, going by a quick search only if you want a lemon or one that's been in a crash.

    Otherwise it's a still fairly newly released car with high demand and almost no new inventory.
     
  16. Jeff Davlt

    Jeff Davlt Member

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    This my hope and plan.
     
  17. Bubbatech

    Bubbatech Member

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    I have seen some Model 3s for sale on occasion at car dealerships. Almost universally, they have been priced the same *or more* compared to a brand new car from Tesla. I have been baffled by this. Since they are asking these prices, I am assuming that the sellers are getting something close to what they are asking. My question is: who is buying at the prices? And why? They don’t want to wait, perhaps? Ignorance?
     
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  18. OCR1

    OCR1 Active Member

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    Cars don’t necessarily sell for ask price in the used market. Unfortunately we have no data on what the actual selling prices for these cars is so we can only guess how close to ask price people are willing to pay. My guess is that the realistic selling price for a used Model 3 is about 7-10% depreciation in the first year. LR RWD models are probably on the lower side since they are so popular and no longer available.

    Also remember new cars have a $1,200 delivery fee that don’t apply to resale cars on the open market.
     
  19. 1LE McQueen

    1LE McQueen Member

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  20. gobble

    gobble Member

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    This is where the LR 2WD is trading at the Manheim auctions:

    1/3/20 $42,700 4,363 4.5 EL/A Blue Regular Southwest Dallas
    12/27/19 $42,750 2,710 4.1 EL/A Red Regular West Coast Nevada
    12/26/19 $29,200* 17,550 2.1 EL/A Black Regular Southeast Palm Beach
    12/12/19 $36,600 7,999 4.0 EL/A Silver Regular Southeast Mississippi
    12/11/19 $42,600 2,326 4.9 EL/A Blue Regular Southeast Nashville
    11/27/19 $40,400 10,490 4.2 EL/A White Regular Southeast Palm Beach
    11/26/19 $42,500 4,858 2.6 EL/A Black Lease West Coast Riverside
    11/26/19 $37,250 10,321 4.0 EL/A Blue Regular West Coast Riverside
     
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