Is now a bad time to purchase a Model Y? It seems the prices of Model Y’s keep dropping every month, it will probably stabilize once the newer Juniper update comes out. Which is cheaper to produce and probably another huge price drop when it comes out since according to Tesla its aim for the newer Model Y is lower cost and more efficient production. Also newer Model Y will have updated interior and exterior, the new HW 4, which could really devalue current Model Y.
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Is now REALLY a good time to buy a new Tesla? [Jan 2023 / April 2023]
- Thread starter bbqc
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So I fully understand how anyone who bought their Tesla last year would be pissed right now. Im in the February camp that thought I got the best deal ever until the latest 3k price drop. I don't love musks thought process as I kinda feel like he is devaluing a very good luxury SUV. Comparable other brands are often closer to 100k or if similarly priced have horrible range and acceleration ect. The 3k doesn't bother me to much as this is normal that any price you pay for a vehicle fluctuate a few thousand due to what the economy is doing, but if he dropped another 6k or so I would be pissed. Not to mention I feel like he would be losing buyers with the perception of a cheaper product. But on the other hand image what the value of a normal ICE luxury suv will be in 5-10 years. I think the moral of the story is if you want it get it, its not an investment its a fun Tesla.
What Elon says, Tesla will sacrifice profit for higher volume. So more price drops this year I would guess, especially if demands goes down. Also, what Elon said Model 2 will be 50% cheaper to produce, and the same production process will be applied to the newer Model Y. I see another huge price drop coming next year when the newer Model Y comes out. Feels like if you buy a Model Y this year, you will pay for it with a very high depreciation cost, due to Teslas aggressive focus on volume sales.
Well the inventory of MYs has been cut in half since the price drop so maybe we see the margin rationalization in one of the other 3 models
Tesla (TSLA) inventory reaches new high, pointing to price cuts not working
Tesla’s (TSLA) inventory in the US has reached a new high, which is worrisome at this time in the quarter,...
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Probably sometime in 2024 for model y according to most people who have been speculating. But the refresh will certainly come with a higher price, one would think.
Hello,
As many are, I am considering purchasing the model Y standard. However, I’ve done extensive research for a couple weeks and there seems to be inconsistencies with pros and cons. My justification for the purchase is the price cuts and tax credit and “gas savings”. However, many posts allude to the costs of maintaining an EV is not as significant as it seems to be on the surface level. As far as issues with the car, Tesla seems to be getting better so I won’t comment on that but feel free to add experience if you feel the need. I do need to do more research on cost is insurance, from what i see it’s more expensive than an ICE car to insure? I can charge at home so I’m not worried about the inconvenience of charging tbh, i don’t road travel much, but will i really be saving that much just to have an EV. Also the inconsistency of pricing is scary as an owner. I have no idea what to do right now, I’m not in NEED to get a new car. I have a truck that i really love, but don’t really need a truck. Having the utility of a truck is nice though when you need it. Any advice? Is not the time to buy?
Ps sorry for long ranted thread of questions/concerns.
As many are, I am considering purchasing the model Y standard. However, I’ve done extensive research for a couple weeks and there seems to be inconsistencies with pros and cons. My justification for the purchase is the price cuts and tax credit and “gas savings”. However, many posts allude to the costs of maintaining an EV is not as significant as it seems to be on the surface level. As far as issues with the car, Tesla seems to be getting better so I won’t comment on that but feel free to add experience if you feel the need. I do need to do more research on cost is insurance, from what i see it’s more expensive than an ICE car to insure? I can charge at home so I’m not worried about the inconvenience of charging tbh, i don’t road travel much, but will i really be saving that much just to have an EV. Also the inconsistency of pricing is scary as an owner. I have no idea what to do right now, I’m not in NEED to get a new car. I have a truck that i really love, but don’t really need a truck. Having the utility of a truck is nice though when you need it. Any advice? Is not the time to buy?
Ps sorry for long ranted thread of questions/concerns.
Well, the refresh will be more expensive than what it is today likely. And the refresh may not be drastic, but who knows with Tesla
No way you can resell a Tesla for profit given the current state and refresh on the horizon in 24’. Be lucky to break even.
Definitely would not purchase one in this environment with idea of reselling. Terrible idea given what has happened in the last year, especially the last month.
This is false. I have a 21’ Toyota Tacoma and it’s retained equity. I’ve actually been on the fence of getting a MY and recently got an estimated value of $5k over my remaining balance on the loan from carmax, $3.5k over from caravana. Historically, your are absolutely correct but cars like Toyota 4 runner, tacomas, ford raptors have a strong history of holding value if not appreciate (such as mine). The main thing holding me back on a Tesla at this point is the reliability in 5 years down the line and the scary pricing inconsistencies.I find it odd that car buyers are seeing any commuter car as an investment that will retain its value. Very few ICE cars that are marketed for commuter cars retain value. They are disposable machines unless you are buying a limited production collector vehicle. Then it “might” retain value IF they stop producing a better, faster, more desirable model. However Tesla is not a limited production car made to hold its value. It is designed as a commuter without the ICE hassles of oil, filters, transmissions, and all the maintenance associated with the ICE. Buy a new Honda, Toyota or Tesla and they are all going to depreciate.
As for waiting for the next “new/better” feature.If a person wants they could claim that from now on. There will always be something coming down the line that “seems” better or must have! But then when those features come along, will you be willing to pay the new price or buy the first year run of whatever model? There are probably more people waiting to buy the second generation of cyber truck than the first run….then they will want to wait until the price comes down or the truck flies or something. Always an excuse to wait, if you want to live that way.
Other than the Covid free money market, of the vehicles listed, the Raptor is the only one that would really retain it value. The last 3 years have been anything but normal for the car market. There are a lot of people that bought cars in the last couple of years that caught the top of the market and are finding out values are going down at a pretty rapid rate. Now they are upside down.
You are right about that. I am curious to see where Tesla is by December. Purchasing the car itself almost seems like a complete gamble on whether you take an L or come out okay depending on where pricing goes. One thing to note is that one of the reasons my Tacoma has retained its value so well is Toyota is dealing with a horrific shortage on their vehicles. Holding my Tacoma could also easily be a risk when the new gen is announced later this year, i could end up upside down as well. Historically speaking, cars are always a bad purchase and you will always lose equity. Being on the fence about purchasing a MY seems to be more of a risk compared to an ICE still. Tesla was considered a high end “status” vehicle just a year ago and is now competing with cars like a Rav 4 Prime, and lower trim Audi, mercedes SUVs in tems of pricing. That could drive buyers away too.
I bought the MYP for the simple fact, most of our driving is local/around town driving which is historically not the best for an ICE. We drive 6-10 miles at a time. Figured we would try an electric to eliminate the ICE maintenance routine. Our daily drivers are purchased knowing they are going to go down in value, but we need something to use and abuse. No way around that. So we are going to see if this is a better tool for the job. . We have a couple of weekend cars that were bought to use on sunny days for throttle therapy! Those were bought thinking they “might” hold their value a little better and IF the stars align they might be worth a little something in 15-20 years. If not they provided some therapy along the way.
. We have a couple of weekend cars that were bought to use on sunny days for throttle therapy! Those were bought thinking they “might” hold their value a little better and IF the stars align they might be worth a little something in 15-20 years. If not they provided some therapy along the way.
Yes, unlikely but possible. A year ago, many used Teslas were selling for more or equal to new. U never know what will cause demand to shoot up. . Example....gas prices could explode again and drive people to EVs. I certainly wouldn't (and didn't) buy my car with price appreciation as a goal but it's a great time to buy and maybe a great time to sell will come again.
Why are you guys saying the refresh will be more expensive. Tesla has been saying they are refreshing the car to reduce production cost like the upcoming Model 2 which Tesla says should be 50% cheaper to produce. The same production process will be applied to the upcoming Model Y according to Elon. Lower build cost combined with a high volume production vehicle will allow Tesla to cut prices even more than they have in the last 4 months. The new Model Y will have a new exterior and interior, comes with HW4, will have all new issues as usual, and cheaper. Teslas pricing trajectory is going down. Lower prices through higher volumes and more efficient production cost.
It is called demand. Tesla knows that people are going to sit on the sidelines waiting for the refresh. So in order to clear out the remaining “old car”…..they have to create a price gap. If the new car is cheaper…they would not move the old car and have those sitting unsold. If the new car is 5k more than the old car…..which are you taking? There has to be a price gap or nobody is buying an old car for the price of the refreshed design.
The previous gen Model S was priced at the meme worthy price of $69,420 to clear out old inventory. The new Model S started in the mid 80s to lower 90s, so I wouldn't be surprised if Tesla takes a similar approach with the refreshed 3 and Y models.
Next few months. Wait for Q2 earnings report and listen live on July 19. Maybe he'll say something at that time
everything i read was Model 3 was the end of this year and model Y end of next year. It's only reason i haven't bought. in 2011 i bought a hyundai elantra right after a redesign, i was at target and some workers were helping me put a flat screen in the car... and the guy commented that he just had bought a 2010 elantra the year before and was disappointed. If you recall Hyndai did insane upgrades from 2010 to 2011 on the design of the elantra. I don't want to be that guy.
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