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Drucifer
Active Member
My view.
I can get a 70D pretty well loaded exactly to my liking (everything but exec seats and subzero) for $94k, so $87k net of tax credits. Right off, since the car is used with any miles, I knock off $10k for that, then no autopilot knocks off another bit. if the car is missing any features I would have knock off for that and then for higher miles I would have to knock off for that.
So this means for me, even a S85 or P85 RWD vehicle cannot be more than $72 k, and that's perfect condition with extremely low miles exactly the way I want. Realistically, if I am buying a used Model S, either it is probably going to be in the $55k - $70k max range. Otherwise I am building to order or buying an inventory car.
Your car looks awesome. Feature list is great in my book, except I would not have piano black. For me it is about a $68k car plus whatever you value the additional warranty and Tesla delivery at.
I can get a 70D pretty well loaded exactly to my liking (everything but exec seats and subzero) for $94k, so $87k net of tax credits. Right off, since the car is used with any miles, I knock off $10k for that, then no autopilot knocks off another bit. if the car is missing any features I would have knock off for that and then for higher miles I would have to knock off for that.
So this means for me, even a S85 or P85 RWD vehicle cannot be more than $72 k, and that's perfect condition with extremely low miles exactly the way I want. Realistically, if I am buying a used Model S, either it is probably going to be in the $55k - $70k max range. Otherwise I am building to order or buying an inventory car.
Your car looks awesome. Feature list is great in my book, except I would not have piano black. For me it is about a $68k car plus whatever you value the additional warranty and Tesla delivery at.
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See page 4 of this link:
https://www.colorado.gov/pacific/sites/default/files/Income67.pdf
Used cars qualify in Colorado for their tax credit as long as the tax credit wasn't previously taken on the car in Colorado (like when it was new). So if Tesla was smart, they'd not sell cars in Colorado as used that were also sold as new in the State. Then you'd be eligible for the tax credit on a CPO Tesla...
https://www.colorado.gov/pacific/sites/default/files/Income67.pdf
Used cars qualify in Colorado for their tax credit as long as the tax credit wasn't previously taken on the car in Colorado (like when it was new). So if Tesla was smart, they'd not sell cars in Colorado as used that were also sold as new in the State. Then you'd be eligible for the tax credit on a CPO Tesla...
brucet999
Active Member
I would suggest the following:
First, go to Tesla Design Studio and build a new car with features you really want/need.
- Chances are that dual motor would be valuable in Denver
- Subzero might make sense for you
- How much value is there for you in 21 net additional miles range (70D actual tested EPA range is 244, "voluntarily down-rated by Tesla to 240") between 70D and 85?
Using the new car as a benchmark, how does that used one now stack up? How much savings do you see?
Certainly some of the options on that used car are things you don't need/want:
- 21" wheels don't make much sense on a non-performance 85. Harsher ride, softer tire rubber compound helps handling and acceleration performance but wears out faster.
- Dual chargers are useless unless you drive more than 150 miles per day and so need faster overnight charging, and unless your house can support an additional 100A breaker on the service panel - add $750 for wall connector charger and $500 to $2000 (depending on distance from panel) for wiring it.
- Are the others items that you would have paid extra for
- Don't forget that about 1/8 of battery life has already been used up.
SabrToothSqrl
Active Member
well, for a fairly valid comparison
2013 S85 Black on Black, leather, pano, paint protect, dual chargers, air susp. tech, fogs, xm, 19s, and... interior lights? is that an option?
13,000 miles when I picked it up
$75,100.00
6 year 100,000 bumper to bumper expires 03/2019.
I had the first gen door handles... and one of them died. so they put 4 new Gen 2 door handles on them. Opening the doors feels much more like a 'normal' car now.
Had I known about the 70D before my purchase... I'd most likely have done my damnest to get a 70D... if they did the $7500 credit at purchase, that would really help me out. Having to come up with or finance that just seems stupid. Yea I can cash out some stocks, but still seems stupid.
70D at 244 miles vs. my 265... AND you get AWD, AND auto pilot... seems like the way to go.
But, my Model S was and still is only a hold over to keep me from going insane until I can drive an X and touch it in person to know if I want one... (I prefer SUVs).
2013 S85 Black on Black, leather, pano, paint protect, dual chargers, air susp. tech, fogs, xm, 19s, and... interior lights? is that an option?
13,000 miles when I picked it up
$75,100.00
6 year 100,000 bumper to bumper expires 03/2019.
I had the first gen door handles... and one of them died. so they put 4 new Gen 2 door handles on them. Opening the doors feels much more like a 'normal' car now.
Had I known about the 70D before my purchase... I'd most likely have done my damnest to get a 70D... if they did the $7500 credit at purchase, that would really help me out. Having to come up with or finance that just seems stupid. Yea I can cash out some stocks, but still seems stupid.
70D at 244 miles vs. my 265... AND you get AWD, AND auto pilot... seems like the way to go.
But, my Model S was and still is only a hold over to keep me from going insane until I can drive an X and touch it in person to know if I want one... (I prefer SUVs).
Gizmotoy
Active Member
All the new models/option changes created a temporary depression due to early adopters doing what they do and upgrading, IMO. I haven't seen any reason so far to indicate the Model S will depreciate faster than your average luxury vehicle. Your typical car buyer isn't going to dump their vehicle at a big loss after a year because a new feature came out, and a lot of Tesla's growth is due to it being legitimized as a real car that can serve the needs of a regular person (along with the cool factor, obviously).
It's great news for resale value if someone does not do their research and buys that CPO car for the price it is offered at. As most of those who commented had pointed out it is a horrible value and the OP is much better of buying a 70D new. There is no "value" in this CPO car for anyone actually paying their money to buy it. The only people this CPO is a great value for are those who own the earlier RWD models
It's great news for resale value if someone does not do their research and buys that CPO car for the price it is offered at. As most of those who commented had pointed out it is a horrible value and the OP is much better of buying a 70D new. There is no "value" in this CPO car for anyone actually paying their money to buy it. The only people this CPO is a great value for are those who own the earlier RWD models
Somehow I suspect that Tesla has done a sufficient amount of research and modeling to know what price they can get for their CPO cars. It's just a matter of time before the word gets out and private sellers stop giving their cars away. This has nothing to do with RWD or AWD. It has to do with Tesla setting the bar for resale value. Prior to CPO, we had no such bar except for the panic selling by deep pocket sellers who can afford to take a ridiculous $40,000 loss on resale and increased pricing on a new vehicle to obtain only $7,500 in new options. That's "insane mode", in my humble opinion.
I welcome Tesla setting this bar.
As long as Tesla continues to sell the 70D this pricing makes absolutely no sense for a RWD 85. For less money someone can actually buy a P85 with a 4 year warranty extension.
I'm sure you welcome Tesla setting this price but them selling this car at this price depends on a customer not knowing about the $7-10K worth if rebates available with new cars and not doing the math to see how this car compares to a brand new 70D.
At the end of the day what you and i think is irrelevant as the market sets the price so in about a year or so we'll see where things stand. I expect Model S to depreciate similar to other premium cars such as an S class and perhaps retain about a 10-15% premium over that but I think anything more than that is wishful thinking.
Drucifer
Active Member
Maybe....but to play devil's advocate.
It is worth about $4k or more IMO, for the warranty and the certainty of dealing with Tesla directly with a larger inventory of Model S as opposed to a private seller or used car dealer. That still makes my $68k used Tesla worth $72k.
Private sellers will never be able to compete with Tesla, as Tesla is being a "market maker" in the CPO space, and the private seller is listing maybe here and maybe cars.com or autotrader.com The private seller car may not be geographically attractive to the buyer, etc....so I wouldn't say that owners selling at a steep discount will stop. The floor for the used Model S pricing is really what Carmax or Tesla will pay in cash to take your car "as is - right now".
I'm not addressing whether or not it's a good deal in someone's opinion. I'll leave that to the customer. I think everyone who owns a Model S, regardless of model, should welcome Tesla raising the bar on resale value. It's up to the prospective customer to decide whether it's a good value. To some, saving $10,000 is a big deal. To others, $10,000 is a rounding error in their checking account.
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