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

[bleebdat]

I'll sell my late 2018 LR for 40,000. It has 58k miles though...

 

[savi]

I'd sell my 3/2018 build for $42k. Only 23k miles…

 

[OCR1]

A brand new LR AWD for $48,990 with a $2K CA rebate.

Or a used 2018 LR RWD with 58,000 miles for $40K, or with 23,000 miles for $42K.

How does that make any sense?

I bought my 2019 LR RWD for $43K in March. After incentives my net price was $35K. How could one with 58,000 miles on it be worth $6K more than my brand new one?

This is why the used Model 3 market makes no sense.

 

[M3BlueGeorgia]

A brand new LR AWD for $48,990 with a $2K CA rebate.

Or a used 2018 LR RWD with 58,000 miles for $40K, or with 23,000 miles for $42K.

How does that make any sense?

I bought my 2019 LR RWD for $43K in March. After incentives my net price was $35K. How could one with 58,000 miles on it be worth $6K more than my brand new one?

This is why the used Model 3 market makes no sense.

Supply and demand, supply and demand.

Very few Model 3 on the used market therefore relatively high prices. Remember, we only had real volumes of Model 3, even in North America, sold new since the middle of 2019, so very few vehicles are over 18 months old. People rarely sell a car that new unless they are unhappy with it and very few Model 3 owners are unhappy.

I'd agree once the Model Y is available in volume you will start to see an uptick in used inventory, partly because of people trading to a larger vehicle and partly because by then there'll be substantial number of 2 year old cars (getting on 3 years old).

 

[OCR1]

Supply and demand, supply and demand.

Very few Model 3 on the used market therefore relatively high prices. Remember, we only had real volumes of Model 3, even in North America, sold new since the middle of 2019, so very few vehicles are over 18 months old. People rarely sell a car that new unless they are unhappy with it and very few Model 3 owners are unhappy.

I'd agree once the Model Y is available in volume you will start to see an uptick in used inventory, partly because of people trading to a larger vehicle and partly because by then there'll be substantial number of 2 year old cars (getting on 3 years old).

Well, supply right now is zero. Tesla literally has no inventory for new or used Model 3’s anywhere in the country.

But new Model 3’s can be had if you are willing to wait the 4-7 weeks. So from a practical standpoint, given today’s new car pricing, how many of us would buy a car with 58,000 miles on it for $40K versus waiting for a new one to be built?

 

[rhaekar]

Well, supply right now is zero. Tesla literally has no inventory for new or used Model 3’s anywhere in the country.

But new Model 3’s can be had if you are willing to wait the 4-7 weeks. So from a practical standpoint, given today’s new car pricing, how many of us would buy a car with 58,000 miles on it for $40K versus waiting for a new one to be built?

Is the wait really that long still? I had no idea.

 

[Az_Rael]

Well, supply right now is zero. Tesla literally has no inventory for new or used Model 3’s anywhere in the country.

But new Model 3’s can be had if you are willing to wait the 4-7 weeks. So from a practical standpoint, given today’s new car pricing, how many of us would buy a car with 58,000 miles on it for $40K versus waiting for a new one to be built?

I think the bottom price today on an equivalent range Model 3 is 48990 (plus $1200 delivery fee). If you are in CA, you can potentially take the $2000 off if you are eligible, so a used buyer may be deciding if a new car with the full warranty is worth $8000 to them vs that higher mileage one.

If someone decides they can live with an SR+ range, then sure the price for that LR is high, but I would guess many folks shopping used LRs are doing it because they want that extra range over the SR+.

 

[ElectricIAC]

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

Interesting breakdown.

 

[Mysta]

I'm curious how production on Y will affect 3 new sales, I'm looking to possibly sell my 3P to 'upgrade' to model x for room purposes and man it's tough finding a price to go for, more so than normal, not because they're bad prices but because there's a decent degree of variance that doesn't seem to be location based. Maybe because of every so often someone with money just wants one 'now'.

 

[ElectricIAC]

I’d pay close attention to the condition ratings: I’m especially curious about the “2.1” with a star next to it.

 

[OCR1]

Auctions often have cars with salvaged titles or damage history.

 

[ElectricIAC]

Don’t doubt it but just how jacked does a Model 3 need to be to get a 2.x rating?

 

[jonquiljo]

A brand new LR AWD for $48,990 with a $2K CA rebate.

Or a used 2018 LR RWD with 58,000 miles for $40K, or with 23,000 miles for $42K.

How does that make any sense?

I bought my 2019 LR RWD for $43K in March. After incentives my net price was $35K. How could one with 58,000 miles on it be worth $6K more than my brand new one?

This is why the used Model 3 market makes no sense.

Of course the Model 3 used market makes no sense.

The lack of incentives now make a used car worth more - because the cost of an equivalent new car is more. I don't see any really major price drops on the horizon either.

Given that there are only a few (at best) used Model 3's on the market, their value is stable for quite some time. The opposite is becoming true of certain ICE cars - especially the higher end ones traded in or sold by people buying Teslas. There is a glut of these cars on the market and their value as used cars is plummeting.

 

[Uncle Paul]

Of course, waiting for another year or two will get you a car for less money. They will be a year or two older.

Everyone wants a Tesla for below market. Tons of prospective buyers scour the marketplace, looking for the car of their dreams...at a bargain price.

Because of this intense pressure, those well priced cars are usually snapped up within minutes of posting.

Problem is that when the market price get to your $40,000 budget, you will probably be wanting one for $35,000.

 

[1LE McQueen]

I've heard you all out and I think the silver lining is that there are still some sellers willing to sell their M3 at a reasonable price. I can't see someone asking for a price well above KBB and having an easy time selling their vehicle. Some M3's in my area are priced ridiculously high, whereas some others in LA or TX are still reasonable but not exactly great either.

I'm actively looking so fingers crossed I find that diamond in the rough; AWD with FSD for at (or around) $40k.

 

[ElectricIAC]

It’ll be out of warranty or have branded title for that price especially with CA extending HOV stickers to used.

 

[1LE McQueen]

It’ll be out of warranty or have branded title for that price especially with CA extending HOV stickers to used.

Yeah you're probably right. I can maybe push it to 44 depending on what i'd get for my car (and consequentially be able to put down). I don't think it's impossible to find a good one, but it will require my undivided attention to jump on the first thing that comes up.

 

[ElectricIAC]

You might be able to score a nice EAP car for that when FSD diverges further.

 

[1LE McQueen]

You might be able to score a nice EAP car for that when FSD diverges further.

My apologies I thought they were the same thing? Or is EAP what the old Model S's have?

 

[Az_Rael]

My apologies I thought they were the same thing? Or is EAP what the old Model S's have?

Model 3s prior to early 2019 were sold with 2 AP options: Enhanced Autopilot and FSD. Enhanced autopilot is currently equivalent to today's FSD as no FSD exclusive features have come out. So, Summon, navigate on AP, Autopark, etc. To buy FSD the car had to have EAP.

Any car with the FSD option will be getting their autopilot computer upgraded. Once that happens and "real" features come out that aren't included in Enhanced AP, the prices on those models may go down. EAP only cars wont get the chip upgrade without buying the FSD package