Is now REALLY a good time to buy a new Tesla? [Jan 2023]

[flgatorfan]

I'm rich lol

Cool bro

 

[GoodKarma]

Biden administration expands EV tax credits in boost for Tesla, Cadillac, others

Another twist in the plot?

 

[woolymammoth17]

What a roller coaster.

 

[MYWhip]

So the white/white MY Performance I ordered a couple of days ago qualifies.

 

[niubige]

At this point I think it is safe to predict the MYLR price will go higher, probably with size of $1000 each hike.

1. Order already piled up to March-May
2. Model Y now a SUV under IRS rule
3. Competitors, like Mach E, they are expensive than Y, while they are inferior compared to Y

 

[ord3r]

Yeah, looking like a safe buy now. I'd probably only wait if really want the new cameras and potentially radar, but be prepared to wait until Q4 23 potentially for that.

 

[LBM4]

Many of you are excited about the recent price cut on Tesla models and are ready to bite the bait. And those who had purchased their cars last year were whining about the massive price reduction. But, as the title says, is now really a good time to buy a new Tesla?

I was assigned an VIN two days ago and was given till tomorrow to schedule delivery. I am thinking of canceling the order. Based on the Tesla new car inventory chart, this massive cut in new car price has not driven the inventory down much. I am predicting an end of quarter sale push in March or another round of price cut in a couple of months. What your choice will be if you were in my shoes?

And if I schedule a delivery, can I cancel it later (when it approaches the delivery date) with no further obligation other than losing the $250 order fee? I have not yet decline an VIN, can I still decline the VIN and get kicked back to the line after I schedule delivery?

As we have seen, your prediction has been wrong. In fact, the price is likely to return to the low-mid $60k by March/April 2023 for the MYLR. Only the new 4680 battery standard range MY will remain in the mid-$50k range.

In fact, anyone that waited until today, just lost $2000 from the low of $52,990 a week ago. Better place an order today, before the price jumps $10k

 

[Happy Hippo]

As we have seen, your prediction has been wrong. In fact, the price is likely to return to the low-mid $60k by March/April 2023 for the MYLR. Only the new 4680 battery standard range MY will remain in the mid-$50k range.

In fact, anyone that waited until today, just lost $2000 from the low of $52,990 a week ago. Better place an order today, before the price jumps $10kD

I love it how there are people that can tell the future. lol Do you know the Powerball numbers? I won't tell anyone.

 

[WyoDude]

As we have seen, your prediction has been wrong. In fact, the price is likely to return to the low-mid $60k by March/April 2023 for the MYLR. Only the new 4680 battery standard range MY will remain in the mid-$50k range.

In fact, anyone that waited until today, just lost $2000 from the low of $52,990 a week ago. Better place an order today, before the price jumps $10k

👀

 

[florida_man]

Right now it's very good compared to the other cars I was considering buying.

 

[LBM4]

I love it how there are people that can tell the future. lol Do you know the Powerball numbers? I won't tell anyone.

I'm guessing you didn't see the 'qualifier' in my post. You see, we use words like, "likely" or "possibly" to give an educated guess based on historical reference and data. If I could see the future, you think I would even be on this site, responding to you, and not on my private island in the Bahamas enjoying myself?

But I'll be sure to bookmark this post and come back to you in a month or two. 🤌

 

[bbqc]

As we have seen, your prediction has been wrong. In fact, the price is likely to return to the low-mid $60k by March/April 2023 for the MYLR. Only the new 4680 battery standard range MY will remain in the mid-$50k range.

In fact, anyone that waited until today, just lost $2000 from the low of $52,990 a week ago. Better place an order today, before the price jumps $10k

I did not make any predictions, nor did I invite anyone (or you) to make predictions. I simply presented a fact that used car prices (particularly Tesla) have tanked crazily in the last 6 months or so. Many have said (you included) given the recent price cuts and tax incentives, now is a great time to buy a Tesla car. Those who bought Tesla before the price cuts were whining about they overpaid. I just wanted to point out that compared to a few months ago, we are effectively paying about the same now considering the trade in value. Using my own story, I am saving $12,000 from price cuts (excluding tax incentives) but my trade in offer is $18,000 to $25,000 lower than 6 months ago. Of course, if you don’t have a trade in, the story is different.

So when one debates whether now is better than before to buy a Tesla, he should think holistically instead of focusing on MSRP and those whiners should not tell just one side of story - I have seen many mentioned how unfair it is for them to not receive the discounts, none has said how much higher their trade in value was last year.

 

[discodanman45]

I bought a Red Model 3 RWD for $48,990 MSRP last year, only rebate will be $3000 Valley Air Pollution District. I am buying a MYP tomorrow for $58,990 MSRP that should get another $3000 rebate and the full $7500 tax credit. You win some and you lose some... Heck, if the CVRP rebate allows Tesla's and it is retroactive, I might get my MYP cheaper than my M3RWD.

 

[Happy Hippo]

I'm guessing you didn't see the 'qualifier' in my post. You see, we use words like, "likely" or "possibly" to give an educated guess based on historical reference and data. If I could see the future, you think I would even be on this site, responding to you, and not on my private island in the Bahamas enjoying myself?

But I'll be sure to bookmark this post and come back to you in a month or two. 🤌

We will see for sure, I’m not holding my breathe! Haha

 

[Kobe8]

The tax credit only applies if you have an AGI of below 150k as a single filer, right?

So I’d think that many people on the market would have to pay sticker with no incentives if that’s the case

 

[YW555]

The tax credit only applies if you have an AGI of below 150k as a single filer, right?

So I’d think that many people on the market would have to pay sticker with no incentives if that’s the case

According to this article "The average household income of a Tesla Model X owner in 2022 is $146,623". Model X was $120K in 2022 so that's 82% of income before tax and fees.

Tesla Owner Demographics by Age, Income, Gender, Home Value

Tesla owners have a median age of 54 and an annual income of over $120,000. Learn more demographics about Tesla owners in this free report.

hedgescompany.com

 

[PNWLeccy]

According to this article "The average household income of a Tesla Model X owner in 2022 is $146,623". Model X was $120K in 2022 so that's 82% of income before tax and fees.

Tesla Owner Demographics by Age, Income, Gender, Home Value

Tesla owners have a median age of 54 and an annual income of over $120,000. Learn more demographics about Tesla owners in this free report.

hedgescompany.com

I suspect a lot of owners of Model X are business owners using the section 179 deduction since it's over 6k lbs. What would be more interesting is knowing the average income for 3/Y owners

 

[woolymammoth17]

According to this article "The average household income of a Tesla Model X owner in 2022 is $146,623". Model X was $120K in 2022 so that's 82% of income before tax and fees.

Tesla Owner Demographics by Age, Income, Gender, Home Value

Tesla owners have a median age of 54 and an annual income of over $120,000. Learn more demographics about Tesla owners in this free report.

hedgescompany.com

Also, if it is an average and not a median then the $146k household income number is higher or much higher than reality being affected by the huge numbers on the upside (could be millions) with a limited downside (only $146k to zero).

 

[GoVols!]

Also, if it is an average and not a median then the $146k household income number is higher or much higher than reality being affected by the huge numbers on the upside (could be millions) with a limited downside (only $146k to zero).

I would have to agree. Being in finance, it floors me people spend over 10-15% of annual salary on vehicles unless they are flipping on special cars. It’s no wonder why so many have horrible retirement savings. The clients I do have with Teslas (generally X or S) are in the $300k(family) plus bracket and they end up selling them when they realize retirement is going to hurt until they buckle down. Reality bites sometimes lol!

 

[LBM4]

The tax credit only applies if you have an AGI of below 150k as a single filer, right?

So I’d think that many people on the market would have to pay sticker with no incentives if that’s the case

You realize the 80% of households in America make less than $150,000 right? And that includes single households. The majority of Tesla owners are married, so that brings the cap to $275,000, which means less than 95% of American households.

Needless to say, most people will get that tax incentive.