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KBB, NADA, Edmunds and valuing Teslas

Discussion in 'Model S' started by CapeOne, Jun 24, 2016.

  1. CapeOne

    CapeOne Member

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    Location:
    New England
    There have been various discussions here and elsewhere regarding ways to value used Tealas to buy or sell/trade. Traditional guides like KBB, NADA, Edmunds, Blackbook, etc. don't necessarily reflect the Tesla market right now and I wonder if they are ever going to be a reasonable source to value Teslas even if/when the brand grows given how Tesla doesn't follow the model year formula.

    Up to now it hasn't been an issue (the new nose facelift on the Model S was relatively minor) but If Tesla does any sort of major redesigns or overhauls during a calendar year, both cars will carry the same 'model year' which makes it more difficult for guides (and data used by those guides) to distinguish between an 'old' Model S and an 'all-new' Model S.

    Adding options/features during the year is not an issue, that happens with many cars already, but major redesigns without changes to the year can complicate things for appraisals with price guides or other sources. Looking at auction results, price guides, etc., traditional ways cars are appraised at dealerships, insurance companies, and elsewhere, won't work well with Teslas if/when two same year models may be completely different in style, platform, desirability, etc.

    I think this is always going to be a potential factor for Tesla valuations and style/cosmetic identification unless the company only does major redesign releases on/around January 1st or perhaps modifies the model name with each major redesign e.g. Model S 2.0, Model S 3.0, etc. Anything to better distinguish two 'very different' cars from each other if it's not going to be model years.

    Thoughts?
     
  2. KJD

    KJD Member

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    Are you looking to buy or sell a Tesla ?

    A year ago I bought a 2012 Model S 85 from Tesla with a CPO warranty. I paid 56,000 for the car and it had 18,000 miles on it at that time.

    Today the car has 32,000 miles on it and I looked at KBB today. The prices range from 49,000 to 54,000. I am not really looking to sell the car right now, but if I were, it seems to me that is a reasonable price range.
     
  3. tstafford

    tstafford Member

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    They've done major updates during a model year before. There are both AP and non-AP 2014 cars.
     
  4. CapeOne

    CapeOne Member

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    Location:
    New England
    Sure, some current KBB, NADA, etc. values may be ok now but my larger point was if/when in the future a significant Model S redesign is done during a calendar year without identifying distinction (like a different model year) you would have two very different cars carrying the same ‘model year’ and that can make KBB, NADA, etc. valuations more complicated and less accurate.

    Let's say Tesla does a significant redesign of the Model S in mid-2019 and by them not using 'model years' you would have two very different cars both identified as 2019 models. When you go to KBB, NADA, etc. to value the car later on how will you know if the 2019 model listed is the all-new car or the old car? How will KBB and others come up with accurate valuations for consumers, insurance companies, banks, etc. if two very different cars of the same model are both identified as 2019s?
     

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