Yeah his comment is “interesting” and typical to what you get from fans.
, lets see where that car but not car company will be in 10 years. And wait till people realize they will get less than 30% Residual value when they wanna trade in their cars!Tesla’s problem and marketing? They literally outlined the plan and published it to ALL over 10 years ago in their master plan. Keep reducing prices as production ramps up. Not make cars collectibles that appreciate in value forever.
Bro i think the body shop is going to ask for more $ eventually. Your hit is definately a total loss tbh. Shops want to make $ and they make nothing on a total loss.I wish you and @TLLMRRJ are correct. However, I do not have a way to sign the paperwork that only gives them the permission to only tear down the car instead of repairing it. The repair shop has sent me paperwork asking permission to start the "repair" and the insurance company has already issued a check for $15,900
I wish you're right. So far I am not seeing them salvage the car in any way, shape or form. They did mention the cost might be more due to more parts that need to be supplemented but no mention of total loss yet. I am upset that it is taking them this long. They are wanting me to sign the paperwork to start the repair process which I have not because I don't think it is repairable. I do not know what to do here. Might need to hire an attorney or an outside adjuster.
I know from my service and a few others posting similar that the Tesla shop I had major work done at said they were not allowed to use Any used parts for repair. Only the main battery Could be evaluated as reconditioned If the mileage allowed. All this is mute if the OP is having this done at some DIY repair shop.
I’d let your insurance know that you are or convinced the car can be repaired fully in this estimate. And speak to the shop itself and alt them know ‘quietly’ that you’d prefer this written off. Sometimes getting the right guy and ‘scratching his back’ may help.
I am having it done at a Tesla authorized shop in the area. (Oxmoor Collision Repair Center - Louisville KY). This is one of the two certified places here. I contacted the repair shop and told them I am not authorizing the repair until I get the full extent of damages as I did not see a lot of things in the estimate that was provided by my insurance company. Their agent confirmed it in writing that the estimate was only based by the Insurance company estimator based off of one picture and that the actual estimate will be different than that. I told them I will authorize them to tear down the vehicle to get the full extent of damage and then reach out. They confirmed that they legally have to have my and the insurance company's permission to start the repair. So I guess, that's a good sign for now. I simply don't think it will be the same car especially all the structural damage to the metal framework in the front. I will also pick up the metal bar that fell out after the crash from the front frame, it's still on the road haha
Yeah, I'm waiting on the body shop to provide their estimate. I don't think State Farm will do the same what they did for you over the phone call especially when Plaid is a very expensive car and the state's regulation of having at least 75% damage means my car has to need at least 60k worth of repairs. Which I doubt will happen.
You got the car you wanted at a price you agreed to. Most cars you buy depreciate ~20% the second you drive it off the lot simply because you bought retail and the dealer can buy one at wholesale, so you trade-in is based on wholesale minus the fact the car is not new anymore, has fixed options, etc. Yes the MSRP drop hurt your resale some, but you expected to drive this car for 5 years, so drive it. The difference at the end of those 5 years will not be that great.At 1.9 interst. I financed at 5 years MSRP was 125. Put 15% down and i have 25% Gap through my insurance AND I am for sure upside down. U will need come with the diff if you sell. So the new purcahse price is not discounted anymore.
Lol I can pay the car full today, it just sucks that this brand loves to screw its customers. I had AMGs and other German high end expensive cars that will depreciate 60% in 4 year but not in 1 year like this
bringatrailer.com
^THIS. An example from a German brand (since @Ash83 seem to think they are good examples of how to handle pricing). Audi eTron GT RS - top Audi EV trim. MSRP had not gone down since last year, but there is $35K or more in incentives and additional dealer discounts available to day to buy them today. What's better, drop the MSRP by $35K or offer $35K in manufacturer incentives? Answer, it does not matter, other than to protect feelings of people who don't understand how it works - resale values drop just as much. Some people just prefer to be uninformed I guess.
I had to buy a car for one of my kids then, which burned me a lot, as it was the only time I overpaid for a car (IMO) - paid more than MSRP for a 2 year old car with 3K miles on it. But I made piece with it, that was the (CRAZY) market back then. I held out to buy my Taycan under MSRP (since I wanted to buy it, didn't need to buy it, which has been my golden rule for decades - buy cars when you want one, never wait until you need one).
No kidding. Some dealers are still trying to perpetuate the COVID market bubble. I bought an new car last month. The window sticker had $5,000 ADM (Additional Dealer Markup) in the price on the window sticker! For about 2 minutes the sales person tried to tell me that is what they sell for. I told him straight up "up to ~6 months ago, sure, but today, plenty of your competition is advertising online with factory discounts, so shall we start negotiating at MSRP minus the factory discounts, or should I take my business elsewhere?". We immediately restarted negotiations at under MSRP. At least with Tesla, it's open pricing to everyone, there is no showroom trying to sell you Model S Plaid for $140K (COVID price)., then jack up your interest rate, sell you forced products, etc. I left Tesla brand, at least for now, for a number of reasons, but having bought A LOT of cars in my life, I will take Tesla buying experience over any other brand. That, their software UX, OTA capabilities, charging network, and mobile service - nobody comes close today.
Why? I had one of those, totaled a 1 year old Model S, it was files under "uninsured motorist" coverage, not collision (difference being it does not affect renewal prices). Also State Farm. Was it because you could not prove fault? In our case we had dashcam footage which clearly proved fault, even though they never caught the person responsible (4K dashcam, not Tesla one, clearly showing the person, their car and license plate, she was obviously intoxicated, ran from the accident, was a Native American so jurisdiction problems and hiding on some reservation as far as the investigator got). Uninsured motorist coverage also covered my deductible.
I call BS. I don't even have Teslas anymore (have my own reasons to have left the brand after 10 years). All manufacturers adjust prices, Tesla just does it openly and transparently. Audi eTron GT RS (Audi's top EV, like MS Plaid), you can get $35K in manufacturer discounts if you know where to look, Tesla just took $35K off MSRP so you don't have to do your research to know the factory incentives. Resale values drop just as much.
If you get into an accident and car can be repaired, insurance pays for it. If the car is totaled, you have a bit of a problem, but essentially insurance pays for replacement (which is much cheaper, but still replaces your car same model and options) which you can continue driving, while you are still responsible for the original loan. Yes, it can get complicated as you might have to finance the gap at today's interest rates, but that is the same for all other cars. Imagine someone buying an eTron GT for $25K over sticker a year and half ago. Today the MSRP is same, but there are $35K worth of factory incentives to be had, plus dealer discounts, so buyers are in the exact same situation - COVID car market was a crazy bubble unlikely to repeat any time soon. I know of people who traded their 2 year old cars for more than MSRP they paid for, and that included $25K Toyotas or $200K Porsches. At the end of 2021 Porsche dealers were offering deposit + $5K cash to simply walkaway from their order for people who ordered new Taycans and were about to take delivery. So if you ordered your Taycan in 2020, placed a $5K deposit, dealer would give you $10K or more to cancel your order (so they can resell your customized car for more money).
COVD car market bubble actually convinced some people that is the case. I participate in Taycan forums, where some people during COVID would trade their 2 years old cars at above MSRP they paid. Those were a lucky few who planned to swap cars after 2 yeas so they pre-ordered a new one. Others assumed that is the norm, you buy a Taycan, you drive it 2 years, you buy a new one with same option and get a check from the dealer. Then the market started coming back to normal, a bunch of panicked, disgruntled customers complaining they cannot trade in their 2 year old cars for a new one without adding a lot of money into the deal.
It is not a matter whether it is ok or, just a matter that everything in the world in on an open market. You could ask the same questions about any product or materials. Is it ok for NASDAQ to drop over 30% in 2022? That's not just a car, that's people's retirements, etc. It's not a matter of ok or not ok, it's supply and demand. Tesla is not going to keep prices at COVID levels if that means not selling cars. COVID pandemic was a car bubble. You happen to have bought at the peak, now it's correct back, it happens. If you purchased a high end graphics card during the pandemic for $4,000, would you be outraged that you won't even get $1,000 for it today?
Actually I gave you two example or top trim cars (Audi and Porsche), simply because I happen to be familiar with their price history as I was considered buying both of them and actually ended up buying one of them. Want other examples, go check out used prices of top trim Lucid - perhaps a good comparison to Tesla, also an all EV company. Except during exceptional times like during COVID pandemic, top trim cars drop like a stone, with possible exception for some limited production cars like some of the 911's, or Ferraris which makes owners sign a contract to not sell too low. Plaid is neither limited production, nor are owners contractually obligated to not sell them too cheap (or not allowed to sell at all for some time, like Ferrari).
Absolutely, those are incentives from the factory. Are you saying you'd be happier if Tesla made the MSRP on a Plaid a $1M dollars, and just advertised a 91% off sales event? Heck, why not make all Tesla cars a cool million dollar car, and just vary the sales discount. Do you honestly think you'd get an insurance company pay you a million dollars if your was totaled? Not a chance in hell, they'd search for 1 year old Plaids on the market and pay you out based on those comparables, not MSRP.
Maybe it would help you to think of it this way - you bought at the top of a car market bubble, the bubble burst, so you can blame your own timing and feel better. Look on the bright side too, insurance companies will lower insurance rates too if replacement cost for cars drops.
