You think this is bad? When the Model 3 hits the market and people have them delivered, Tesla is going to depreciate in general extremely fast. Not to even mention when there are other EV from other car brands.
I just recently traded my 2016 RRS SCV8 purchased in April and only lost overall 10K from the purchase price. Not bad, but not like a Tesla...
I'm not sure, it could go either way. Right now Tesla is moderately well known, but not on a lot of people's radar. When the M3 comes out a lot of neighborhoods that have never seen a Tesla will have one on the block and that person will be showing off their car to all the neighbors setting off a firestorm of word of mouth activity.
Tesla will already be backed up with M3 orders and that could push demand much, much higher. People with enough money to afford a used S might keep the resale prices of Ss up for at least a while until the demand gets filled.
On the other hand, the MS and M3 might be too close in features and demand for new Ss could fall off a cliff which could then hurt the used market too.
I appreciate I was able to take advantage of the $7,500 fed tax credit (and will again soon later this year), but I also won't be incredibly sad when it finally does expire. It plays havoc with resale values of EVs...especially when you toss in state incentives.
When/if the fed credit does expire, does that automatically mean used EV values will suddenly jump $7,500? Or something close to that?
It probably won't be immediate, but it probably will buoy up prices a bit.
Depreciation of electric vehicles is high do to a perceived loss of battery capacity, or uncertainty in that. This is likely to continue until there is firm data that it isn't the case (assuming that's the fact).
That said, depreciation on 6 month old $100,000 cars is always going to be high. It will be presumed that owner's don't care about their (or other people's) money.
Thank you kindly.
As I said above, the depreciation on non-P Model Ss is not that sharp at all. Especially the dual motor cars with AP. Anyone who has done any research knows Tesla batteries don't degrade much, usually about 5% in the first year, then levels out. The batteries on Nissan Leafs have degraded more because their battery management is poor compared to Tesla. It's probably worse in hot climates than milder ones, but used Leafs can be picked up for a song.
I just checked sold listings on Ebay. I see a used S70D that went for $65K, another that went for $68K. A post refresh 70D (upgradable to 75D) for $73,800. An X75D that went for $85,990. There is one S85D that sold for $68K but I think there is something wrong with it, it sold more than once and another S85D that went for $70K. It had an accident apparently and in the listing the owner needed to sell quick due to a work transfer to Europe.
The P cars and smaller battery cars come up for resale a lot more than the 85Ds and 90Ds. I was watching the market before I bought for a used S90D and there were very few. The few that were available were going for less than $7500 off the original price. There are so few Xs for sale it's difficult to price them from the open market.
If the OP really wanted to sell their X, they could do better selling in the direct market than trading it into Tesla.
