I had a private dialog with a Model 3 reservation holder considering an S now that the lower priced updated S60 has been announced. There are some points I hope may be helpful to anyone else looking at the trade-offs. One of that persons main concerns was if the Model S would be "old tech" once the new 3 is shipping. My thoughts are below, YMMV: "I think the question of waiting for new tech is one every Tesla buyer faces. At some point the tech is right for an individual to go ahead and make the plunge. For me it was dual motors, autopilot and next-gen seats early last year. Musk made two points about this, that the current production S (and X) are constantly improving and receives multiple improvements per week (they don’t wait for model years). The second more recent point is that the S/X platform will always have flagship tech first. (these are quotes you can look up in TMC or on the web, some were in interviews, some Tweets, etc). I take this to mean that when the Model 3 comes out, the Model S at that time will have the latest tech and be in advance of the Model 3. Now, the current Model S may well not have some new tech that will be in the Model 3-but no-one knows for sure on timing for next gen autopilot, new motors, etc. What I believe from Musk’s comments is regardless of what the 3 has then, the S will have something beyond it, much as Mercedes releases its latest tech in the big Merc S and SL that eventually finds it way to the Merc E and C. So to me the question of S now or 3 later is more of: -can I afford the premium for an S? -am I OK waiting or do I want to get a Tesla now? -is a bigger car OK? -does the hatch back on the S have a lot of value for me, since the 3 won’t have it? -is the current hardware tech good enough for a few years (with OTA software updates) for me or is there some key missing feature I must have? -do I think I’ll get the currently available $7500 Federal tax credit and any state incentives by the time the 3 comes out? I’m pretty sure when the 3 is shipping, the S will then have tech beyond what the 3 does. It's a very personal decision, and whatever you decide, you are going to love a Tesla. I bought my 85D to replace one of my two personal vehicles (GMC Yukon) and after a month of driving the Tesla, I sold the other fun car, a Mercedes SL55 AMG, because I knew I would not be driving it anymore. The precision driving control level and overall pleasure of driving electric spoils you for ICE cars."