Market value for Plaid

[dmurphy]

Anyone buying a production car assuming a profit (yes, even the Plaid is really nothing special - just a regular 'ol production car) -- is fooling themselves.

Production cars aren't, have never been, and never will be appreciating assets. Best to think of it as consumable by the mile.

And once you accept that, drive the hell out of it and enjoy it.

If you want an investment, try gold.

 

[Ash83]

no need for Dealers because Tesla does that to its customers without the need for 3 party dealership

It is funny how some just assume that all Plaid owners bought the car to profit. Maybe they choose to not pay over MSRP for ICE cars!?! I guess we could have also choose to not buy a Tesla that could drop 40% in 1 year.

Dealer rebates and holdbacks will impact to some extent resale value but not to the same extent MSRP drop. now people are looking at 40% depreciation in 1 year. if that is ok for you then keep doing it.

I had multiple cars bought at 10%-15% below MSRP with rebates and discounts from dealers ..etc and still sold them for ~50% of MSRP not final purchase price in 5 years.

 

[CapeOne]

no need for Dealers because Tesla does that to its customers without the need for 3 party dealership

It is funny how some just assume that all Plaid owners bought the car to profit. Maybe they choose to not pay over MSRP for ICE cars!?! I guess we could have also choose to not buy a Tesla that could drop 40% in 1 year.

Dealer rebates and holdbacks will impact to some extent resale value but not to the same extent MSRP drop. now people are looking at 40% depreciation in 1 year. if that is ok for you then keep doing it.

I had multiple cars bought at 10%-15% below MSRP with rebates and discounts from dealers ..etc and still sold them for ~50% of MSRP not final purchase price in 5 years.

Tesla is a dealer. They happen to own their dealerships while franchised dealerships are typically independently owned. The multiple price increases Tesla implemented last year are comparable to some of the markups some dealers had.

 

[Ash83]

Tesla is a dealer. They happen to own their dealerships while franchised dealerships are typically independently owned. The multiple price increases Tesla implemented last year are comparable to some of the markups some dealers had.

Nope. BMW already sold the car at invoice to the dealer, the dealer decided to take advatnage to charge Market value. If you choose to buy that BMW then you accepted that fact that you paid above MSRP and will loose that money the moment you sign.

 

[Bull]

For what its worth, I got a trade in quote today for my 2021 Plaid with 33,500 miles. Tesla offered me $55,600.

I was one of the very early adopters so I'll be driving this one for a while.

 

[DBV1]

For what its worth, I got a trade in quote today for my 2021 Plaid with 33,500 miles. Tesla offered me $55,600.

I was one of the very early adopters so I'll be driving this one for a while.

Interesting, as I received a quote from Tesla today for $47,500 and I have $38,000 miles for my 2021 LR Model S refresh. Wonder what they would sell for in the open market now?

 

[Smokin]

There are a LOT of fanboy responses in here that give Tesla/Elon the ability to engage in unprecedented price drops with impunity. No matter what he does, this blindly devoted telsa group will continue to Tout how great the car is. How wonderful the car is is completely different than manufacturer based value destruction via price drops. If you bought in 2021/22 you likely lose $40-50k JUST from price drops. Then add in regular deprecation. I was on the phone with a few friends of mine who are dealers. They won’t even bid on teslas anymore because the market is too scared to be stuck with inventory that may lose another $10-20k due to another round of price drops. Wholesalers are ignoring teslas on Manheim. I’d guess a 15k mile 22 is worth low 60’s IF you can get a dealer to bite. Most will probably bid on the 50’s to protect themselves from further downside.

Y’all need to wake up and stop standing for thrse egregious actions. NO OTHER manufacturer has engaged in these practices. It doesn’t matter if the car is good/great. The manufacturer has an ETHICAL duty to care about its customers. They get away with it because you let them.

 

[Smokin]

Yes, best to go back to other brands where they handle this stuff the traditional way via rebates, dealer holdbacks, financing deals, and other methods of accomplishing the exact same thing.

Every manufacturer responds to the market like this. They just do it in ways that are more opaque to spare your feelings. The end result is exactly the same.

Not true. Sold my 21 RS7 with 20k on the clock for a 7k loss. Friend lost $24k selling a 21 E63S back to the dealer with 11k on the clock 2 weeks ago. We get shafted to the tune of $60-70k. The difference is that “hold backs and rebates” aren’t available to everyone. Also those don’t equate to 30-40% of the MSRP. Stop blindly defending the indefensible.

The fan boy loyalty is only prevalent with telsa since there is a huge portion of its ownership demographic that is “new” to high end car ownership. Many are also not hard core car guys who trade in and out of cars often. That hubris from inexperience makes them think this is “normal” as “depreciation” is treated as a platitude and is not quantified via rate of depreciation or cause of excessive deprecation. What we have is FAR greater than normal. Maybe 200-300% of most any high end csr depreciation Sure Amg, BMW M, and others may reach this level of deprecation over 3-4 years , but getting here in 1 year is a feat. It’s not only the fastest accelerating car on the road it’s the fastest depreciating car on the road.

 

[Smokin]

Anyone buying a production car assuming a profit (yes, even the Plaid is really nothing special - just a regular 'ol production car) -- is fooling themselves.

Production cars aren't, have never been, and never will be appreciating assets. Best to think of it as consumable by the mile.

And once you accept that, drive the hell out of it and enjoy it.

If you want an investment, try gold.

Lots of platitudes here. No one is expecting a profit. Not expecting record setting depreciation seems fairly reasonable. Btw I have a few cars in the garage which out performed the stock market.

 

[Ash83]

Not true. Sold my 21 RS7 with 20k on the clock for a 7k loss. Friend lost $24k selling a 21 E63S back to the dealer with 11k on the clock 2 weeks ago. We get shafted to the tune of $60-70k. The difference is that “hold backs and rebates” aren’t available to everyone. Also those don’t equate to 30-40% of the MSRP. Stop blindly defending the indefensible.

The fan boy loyalty is only prevalent with telsa since there is a huge portion of its ownership demographic that is “new” to high end car ownership. Many are also not hard core car guys who trade in and out of cars often. That hubris from inexperience makes them think this is “normal” as “depreciation” is treated as a platitude and is not quantified via rate of depreciation or cause of excessive deprecation. What we have is FAR greater than normal. Maybe 200-300% of most any high end csr depreciation Sure Amg, BMW M, and others may reach this level of deprecation over 3-4 years , but getting here in 1 year is a feat. It’s not only the fastest accelerating car on the road it’s the fastest depreciating car on the road.

Same for my precious cars RS and M and AMG. Regadless of how much you got them usually they drop based on MSRP.

 

[ucmndd]

Not true. Sold my 21 RS7 with 20k on the clock for a 7k loss. Friend lost $24k selling a 21 E63S back to the dealer with 11k on the clock 2 weeks ago. We get shafted to the tune of $60-70k. The difference is that “hold backs and rebates” aren’t available to everyone. Also those don’t equate to 30-40% of the MSRP. Stop blindly defending the indefensible.

The fan boy loyalty is only prevalent with telsa since there is a huge portion of its ownership demographic that is “new” to high end car ownership. Many are also not hard core car guys who trade in and out of cars often. That hubris from inexperience makes them think this is “normal” as “depreciation” is treated as a platitude and is not quantified via rate of depreciation or cause of excessive deprecation. What we have is FAR greater than normal. Maybe 200-300% of most any high end csr depreciation Sure Amg, BMW M, and others may reach this level of deprecation over 3-4 years , but getting here in 1 year is a feat. It’s not only the fastest accelerating car on the road it’s the fastest depreciating car on the road.

Like I’ve said many times then - stick with the old way of doing things. You’re clearly much more comfortable with the opacity. I’m sure you’re an above average negotiator, just like everyone else, and will no doubt come out ahead. I mean after all, you’ve bought lots of cars.

 

[CapeOne]

Nope. BMW already sold the car at invoice to the dealer, the dealer decided to take advatnage to charge Market value. If you choose to buy that BMW then you accepted that fact that you paid above MSRP and will loose that money the moment you sign.

Tesla is a dealer. They have a dealer license in many states which allows them to sell new and used vehicles, participate in dealer-only auctions, etc.

As far as prices are concerned, whether it be a franchised dealer (like BMW) or a manufacturer/dealer (like Tesla), a price increase is a price increase and can be viewed as a markup. Both Tesla and some independent dealerships took advantage of supply/demand factors brought on by inventory shortages, supply chain issues, etc. in the market.

 

[KITT 2.0]

I got mine in 2021 when prices were the highest. Whenever I’m at a red light thinking about it, a few tears roll down my cheek.
Then I put it into cheetah stance and punch it, the tears get sucked into the back of my headrest and my mouth gets forced into a joker style grin from the g-force and I forget about it all.
Life is too short, enjoy it

 

[bkcyk]

I’ve been overseas for the last 3 weeks enjoying life and getting around by mostly a world class subway system.

I just got in my MSP last night to go get some chia and flax seeds for my smoothies. Shock of the century, but it’s still a siq looking, incredibly powerful yet comfy EV chariot.

Dust will settle. Relax. Enjoy y’all!

 

[David Seigel]

Moderator note: This post and replies were merged from a different thread on basically the same topic. Please look for existing threads before starting a new one.

To All.

Hello Tesla, model, S owners and Plaid owners

I paid $158,000 for my tesla plaid a year and a half ago to see that it’s now worth peanuts.

That they are now selling four brand new $80,000 and change

My question is what do I need to do if I have taken a loan out on the vehicle with no gap insurance completely upside down I can’t even drive the car because thinking they’re going to give me peanuts.

Look forward to anyone’s reply, David

 

[ucmndd]

My question is what do I need to do if I have taken a loan out on the vehicle with no gap insurance completely upside down I can’t even drive the car because thinking they’re going to give me peanuts.

I would buy GAP insurance.

 

[dwbv]

Pay off the loan, eat the difference, and move one... welcome to life, unfortunately.

If you can't do that, get GAP insurance ASAP if you still can, otherwise just drive and enjoy the car. When you get into a situation where the car is totaled and the check from the insurance doesn't cover the loan balance, just talk to your loan provider and turn the remainder balance into a personal loan and continue to make payments; be responsible and take ownership of your choices and the consequences that came with it.

You have a Plaid and qualified for a loan for it so you must be winning to some degree. Enjoy the car. Cars are not investments, they're mega-depreciating assets. Anyone in their right mind would never pay $100k+ for a car. Only nutty-car-enthusiasts like us buy $100k+ cars.

 

[rlsd]

Buy some Tesla stock and sell it when it goes high to make up the loss.

 

[EXOTIC1]

89K for bare bones plaid is new price
Used they will be in the 60’s

 

[David Seigel]

Pay off the loan, eat the difference, and move one... welcome to life, unfortunately.

If you can't do that, get GAP insurance ASAP if you still can, otherwise just drive and enjoy the car. When you get into a situation where the car is totaled and the check from the insurance doesn't cover the loan balance, just talk to your loan provider and turn the remainder balance into a personal loan and continue to make payments; be responsible and take ownership of your choices and the consequences that came with it.

You have a Plaid and qualified for a loan for it so you must be winning to some degree. Enjoy the car. Cars are not investments, they're mega-depreciating assets. Anyone in their right mind would never pay $100k+ for a car. Only nutty-car-enthusiasts like us buy $100k+ cars.

Pay off the loan, eat the difference, and move one... welcome to life, unfortunately.

If you can't do that, get GAP insurance ASAP if you still can, otherwise just drive and enjoy the car. When you get into a situation where the car is totaled and the check from the insurance doesn't cover the loan balance, just talk to your loan provider and turn the remainder balance into a personal loan and continue to make payments; be responsible and take ownership of your choices and the consequences that came with it.

You have a Plaid and qualified for a loan for it so you must be winning to some degree. Enjoy the car. Cars are not investments, they're mega-depreciating assets. Anyone in their right mind would never pay $100k+ for a car. Only nutty-car-enthusiasts like us buy $100k+ cars.

I know I should’ve bought a Corvette. Might’ve been slightly slower, but at least they do hold their value.