so I called my advisor today to have him run some numbers on trading my 3 week old 90D in on a P100D. I figured I would take a 10% to 15% hit. It has 540 miles. Imagine when he quoted me a 23% hit! I almost fell over. I thought Land Rovers were bad but I think Tesla wins with the fastest depreciation. 23 friggen percent!!!
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passcore
Member
A pre owned ( albeit with just ~600miles) Model X would not qualify for the fed tax credit so it should depreciate by at least 7.5k. I would say that would bring down the real depreciation to about 15-16%.
Canuck
Well-Known Member
23%, or 17.2% are probably not the correct number to determine depreciation. Tesla sells trade-ins at a profit. The amount Tesla sells it for determines depreciation, or what you could sell it for privately.
Camera-Cruiser
Fully Charged
There is that, and I am guessing you get to keep driving yours for 8-12 weeks until the new one is delivered? Then, they still have to go through the reconditioning process (probably quickly in this case) prior to or at the time of resale.
I hope it works for you.
I'm waiting for my X 60d that might deliver end of sept or beg of oct. I don't want to miss out on 2.0 and for some reason I feel like beg of year will have better resale then end of the year (oct 16 vs Jan 17). So I have already talked to my parents about running numbers on a almost new X trade in if 2.0 is released. Basically exactly what you called about.
Taxes would almost wash out because you pay taxes on difference only in GA. And you would get two tax credits if they are still available. And tesla gets two sales and makes money on trade in (I don't care about this but some people on here care about tesla more than themselves for some unknown reason).
Let's say you take a 20% hit or $20,000 to make math easier. 7,5 is recouped in tax credit. And rest will be "cost to upgrade". If someone is willing to pay $20,000 for a .1 second faster car. I'm willing to pay half that for 2.0 hardware and a 2017 vs 2016 car and I would get to drive an X in the mean time.
Not best financial decision of my life but compared to canceling my order ($2500 additional lost) it's not that bad.
We will see but definitely something I am considering. Thanks again for your post.
It's not going to happen. As much as I would love to get the 100 I can't justify that kind of hit. I guess the good news. In 3 years when I trade they may have a P200D! 0-60 in 2 seconds.
I can probably figure it out roughly but do you mind posting sticker price vs trade in offer in dollars?
Also I would love to know what tesla values option wise. or is a $90k X trade in for % of $90X no matter the color or option choices.
Yes correct. If you take delivery in 17 vs 16 there will be some risk maybe. 16 almost sure you get it twice.
I mean there's almost no private party X for sale. Low supply maybe higher price? Has to be someone who doesn't want to wait.
Small note. I can't edit my post, but for some reasons I put "parents" instead of " owner advisor". Now I have pointed it out to everyone. Good
travwill
Active Member
Luxury cars depreciate the most, Teslas being part of that group in reality. Electric cars tend to also take a hit now more still. Found this graphic online that was interesting. It doesn't take into account the luxury market fully as well as the tax credit even.
If you trade it in early, it can't be easy for people to get financing on a 70k used car. Plus some states only make you pay tax on difference in trade in vs new. So going into a new tesla the convenience + tax savings would probably win for me.
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