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Is my plan Feasible?

Discussion in 'Model S' started by Infoe, Mar 16, 2016.

  1. Infoe

    Infoe Member

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    Miami Florida
    I am in the process of selling my ICE 5 series...I'm wanting a Model 3 and am in the dilemma of what to get in the mean time. What do you think of this plan?

    Model S 70 with leather seats financed for 84 months at %1.99 ($72,500) I'm looking at payments of $925 a month.
    Take delivery in April and guaranteed to be in the S for at least 12 months...not sure if to calculate payments out to September or later but just as an example 17 months total. ($15,725 cost of ownership) of course subject to change as each month I don't have a Model 3

    -$7500 tax credit and about -$1400 (conservative) in gas savings over those 17 months puts me at a discount of $523.53 per month making my effective monthly payment $401.47

    OBVIOUSLY these numbers change against me each month I don't have a 3 but that is ok I can afford it...my question is what will my depreciation look like? or trade in be like when I want to go from the S to the Model 3? Can anyone comment on how Tesla does it? Alternatively if I did a lease would Tesla allow me to trade into the Model 3 without penalty? (highly doubtful)
     
  2. bollar

    bollar Disgruntled Member

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    I would look at ev-cpo.com to see exactly what kind of depreciation to expect.

    Personally, I would buy a used 70 and keep it.
     
  3. CHG-ON

    CHG-ON Still in love after all these miles

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    Yes, if you are only buying for a short time, get a CPO. You will take it in the shorts with DPN big time! A good 35-50% You need to factor that in. Factoring that in, you will end up paying much, much more. These things drop like a rock out the door because they are new tech and updating faster than any other car in the market.
     
  4. ibdguru23

    ibdguru23 Member

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    I agree with CH-On. Deprecation will hit hard the first 2 years for sure. Better off buying a CPO if you thinking about doing that. I was considering Model 3 also, but couldn't wait any longer so pulled the trigger on Model S 70. hehe


    e
     
  5. CHG-ON

    CHG-ON Still in love after all these miles

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    I can't blame you!
     
  6. ibdguru23

    ibdguru23 Member

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    My only concern is he rumor about the model S face lift announcement in April. :D
     
  7. Jason S

    Jason S Model S Sig Perf (P85)

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    CPO looks even better if you like the way the car looks right now!
     
  8. tstafford

    tstafford Member

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    Used/CPO 70 or 70D makes a lot of sense to me in this case.
     
  9. Infoe

    Infoe Member

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    I will look into CPO. My only question is does the tech in the previous year model match that of a 16 base? As in does the display and controls get updated? (Im not concerned with tech such as autopolilot, more so the standard technology)
     
  10. zambono

    zambono Member

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    If its for a short time keep the 5 series till you take delivery.
     
  11. mikeash

    mikeash Active Member

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    The display and controls have been constant since at least the Autopilot introduction, maybe sometime before. I don't think there's any visible difference between September 2014 and now. One exception to this is the addition of LTE connectivity around the middle of 2015. Cars before that point only have 3G. You can upgrade for $500, or just use 3G, it still works fine.
     
  12. ibdguru23

    ibdguru23 Member

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    There aren't many used or CPO Model S 70 i have seen yet. =\
     
  13. bollar

    bollar Disgruntled Member

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    There are forty-eight CPOs on http://ev-cpo.com - how many do you need? :D
     
  14. MorrisonHiker

    MorrisonHiker Beta Tester

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    There are currently 61 listed at TeslaInventory.com, of which 13 are S70 and 48 are S70D.
     

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