Model X Trade-In Price way to low

[UltraBot]

Hello,

I'm curious about something here... I bought a Model X in 2017, loaded with all options, I paid 260K CAD for it (yes, I know, stupid early adopters but, it's done). I also paid about 4K for the MCU2 hardware upgrade a couple of months ago.

It has about 80K km on it.

According to a quick google search, a Tesla Model X should lose about 34% of its value over the course of 3 years, which would take about 88400 CAD out of it. So, my car would worth about 170~175K CAD.

I asked for an evaluation at Tesla, for a trade-in, just out of curiosity, and they offered only 70K for it!

Is this a joke!?

 

[brkaus]

The premium for the performance model doesn’t hold very well.

you can definitely do better private sale. Have you checked local ads?

 

[SSedan]

The price reduction and range increase of Raven takes its toll as well.
Forget what you paid for a moment and go price out a new one and consider the upgrades it will have. I think you will then realize only a 34% hit is a pipe dream.

 

[nobznss]

^^ that. That's what steered me away from buying used and bought new. Items that used to be 'upgrades' are no longer upgrades. Pricing has significantly dropped. Doesn't make sense to sell a 3 year old car for the price of a new one off the production line.

 

[UltraBot]

So, what do you mean by "upgrades are no longer upgrades"? It's a P100D, BTW...
Basically, everything that I selected, like awesome sound system, dynamic spoiler and etc, are included "by default" for "free"?
I'm seeing that the dynamic spoiler, for example, doesn't exist anymore, what about the other "upgrades"?

 

[glide]

Hello,

I'm curious about something here... I bought a Model X in 2017, loaded with all options, I paid 260K CAD for it (yes, I know, stupid early adopters but, it's done). I also paid about 4K for the MCU2 hardware upgrade a couple of months ago.

It has about 80K km on it.

According to a quick google search, a Tesla Model X should lose about 34% of its value over the course of 3 years, which would take about 88400 CAD out of it. So, my car would worth about 170~175K CAD.

I asked for an evaluation at Tesla, for a trade-in, just out of curiosity, and they offered only 70K for it!

Is this a joke!?

Why would someone pay $170K for your car when a brand new Performance Raven model X is 138K?

I guess you bought into the hype around Tesla depreciation. It’s among the worst in the industry.

 

[cypho]

So, what do you mean by "upgrades are no longer upgrades"? It's a P100D, BTW...
Basically, everything that I selected, like awesome sound system, dynamic spoiler and etc, are included "by default" for "free"?
I'm seeing that the dynamic spoiler, for example, doesn't exist anymore, what about the other "upgrades"?

The spoiler was discontinued because they kept breaking. Most of the other stuff you paid extra for is now included by default for free. And the starting price is a lot lower too.

Go to tesla.com, spec out a new car. Subtract 30% (or whatever percent you think is fair for the wear/tear you've put on the car). Then subtract whatever you think is the value of more range, a better suspension, faster charging, improved interior.

A used car buyer is not going to look at how much you paid for the car. They are going to look at how much Telsa sells new cars for today. 30% off of what you paid for your car may be more than what someone can get a new one that is better than yours in every way.

 

[UltraBot]

I see... So, I went to tesla.com, a fully loaded Model X today is about 164390 CAD, this means that I basically kinda lost 100000 CAD in 3 years just because of that, and add 30% less on top of the new price, more 49350 CAD of "normal" devaluation.

My car worth about 115000 CAD.

They charged me 100K for items that now they give for free?! This is insane.

 

[UltraBot]

Where can I find a list of items that I paid ~100K CAD for them that are now included by default for free?

 

[cypho]

Since you started off by complaining about Tesla's offer I assume you were looking to buy another Tesla. If that is the case you haven't actually been harmed by the price drops, because you will get to take advantage of the lower price on the next car.

If Tesla hadn't dropped the price. Your next car would cost 260K (assuming you are sticking with an X like you had before). Subtract the 175K you thought your car was worth and the upgrade ends up costing you around 100K.

With the current prices, the new car will cost you 164390. Subtract the 70K they offered you for the trade in, and you are still right around 100K to upgrade.

If you want to switch to a non-tesla car. They yea, the price drops have really screwed you over.

 

[cypho]

Where can I find a list of items that I paid ~100K CAD for them that are now included by default for free?

Off the top of my head I think these were the 4 big extras you probably paid for that are now included with a new performance X

Ludacris
Audio Package
Premium Upgrades Package(auto-opening doors and Bio-Hazard Air Filter were the main things included here I think)
Cold Weather Package
Towing Package

 

[Cleo-n-Company]

Here's a good one -- my 2013 Model S P85+ stickered at 130K USD (I didn't pay it - bought it used) and has about 70K miles. When I inquired with Tesla as a trade in for a Model 3 - they offered 18K. Yes friends - depreciation to the depths I have never seen.

I got a trade-in offer from Carvana for 33K - which I thought was terrific. I was guessing I would have gotten an offer in the 28K to 30K range.

But for the life of me - I can't imagine why Tesla would pay so much less for their own vehicles. Quite a turn-off to its current customers. Bad move Elon.

 

[UltraBot]

Since you started off by complaining about Tesla's offer I assume you were looking to buy another Tesla. If that is the case you haven't actually been harmed by the price drops, because you will get to take advantage of the lower price on the next car.

If Tesla hadn't dropped the price. Your next car would cost 260K (assuming you are sticking with an X like you had before). Subtract the 175K you thought your car was worth and the upgrade ends up costing you around 100K.

With the current prices, the new car will cost you 164390. Subtract the 70K they offered you for the trade in, and you are still right around 100K to upgrade.

If you want to switch to a non-tesla car. They yea, the price drops have really screwed you over.

This is actually a very good point! LOL

And yeah, I want a new Tesla but, maybe, the Cybertruck in 4~5 years.

 

[TFCooper3]

But for the life of me - I can't imagine why Tesla would pay so much less for their own vehicles. Quite a turn-off to its current customers. Bad move Elon.

OTOH, I was pleasantly surprised at Tesla's trade-in price for my 2016 Model X a year ago. Maybe your 2013 battery pack was nearing its end of life?

 

[jboy210]

I see... So, I went to tesla.com, a fully loaded Model X today is about 164390 CAD, this means that I basically kinda lost 100000 CAD in 3 years just because of that, and add 30% less on top of the new price, more 49350 CAD of "normal" devaluation.

My car worth about 115000 CAD.

They charged me 100K for items that now they give for free?! This is insane.

You paid to have the car 3+ years earlier than others and got 3+ years worth of driving the car versus someone who buys today.

 

[jboy210]

Here's a good one -- my 2013 Model S P85+ stickered at 130K USD (I didn't pay it - bought it used) and has about 70K miles. When I inquired with Tesla as a trade in for a Model 3 - they offered 18K. Yes friends - depreciation to the depths I have never seen.

I got a trade-in offer from Carvana for 33K - which I thought was terrific. I was guessing I would have gotten an offer in the 28K to 30K range.

But for the life of me - I can't imagine why Tesla would pay so much less for their own vehicles. Quite a turn-off to its current customers. Bad move Elon.

It is a smart move. Every manufacturer I have bought cars from does the same thing. Then they turn around and sell you used car for more profit than they make on a new car sale. Been that way for decades. Companies are in business to make money.

Last fall we were getting rid of our last ICE car, a 2011 BMW 335i loaded with 28K miles. Just for grins we went over to the BMW dealer and asked what they would give us for it. They offered under wholesale BB, $5,600. Drove one exit down to CarMax. $10,800. We threw them the keys.

 

[byeLT4]

Here's a good one -- my 2013 Model S P85+ stickered at 130K USD (I didn't pay it - bought it used) and has about 70K miles. When I inquired with Tesla as a trade in for a Model 3 - they offered 18K. Yes friends - depreciation to the depths I have never seen.

I got a trade-in offer from Carvana for 33K - which I thought was terrific. I was guessing I would have gotten an offer in the 28K to 30K range.

But for the life of me - I can't imagine why Tesla would pay so much less for their own vehicles. Quite a turn-off to its current customers. Bad move Elon.

There's a long drawn out answer but in a nutshell they would rather sell new cars. Used inventory that they have on hand is kind of competing against themselves. Even across models. I was looking at a new P3D but ended up going with a used P100D for just a few thousand more, since I purchased through Tesla I got basically a new car warranty (4 years/50k miles) which was a must have on my list.

 

[Cleo-n-Company]

There's a long drawn out answer but in a nutshell they would rather sell new cars. Used inventory that they have on hand is kind of competing against themselves. Even across models. I was looking at a new P3D but ended up going with a used P100D for just a few thousand more, since I purchased through Tesla I got basically a new car warranty (4 years/50k miles) which was a must have on my list.

I'm with you. I have the feeling they have zero interest in their used car business. But with the monopoly on parts and service - it would seem used sales and service would enjoy nice margins. Some day... there will be more pricing pressure on their new vehicles. That someday might be here in the next year or two...

 

[Cleo-n-Company]

It is a smart move. Every manufacturer I have bought cars from does the same thing. Then they turn around and sell you used car for more profit than they make on a new car sale. Been that way for decades. Companies are in business to make money.

Last fall we were getting rid of our last ICE car, a 2011 BMW 335i loaded with 28K miles. Just for grins we went over to the BMW dealer and asked what they would give us for it. They offered under wholesale BB, $5,600. Drove one exit down to CarMax. $10,800. We threw them the keys.

You shoulda given me a call. I loved that generation of the 3-series. Especially with the 335i engine...

 

[jboy210]

You shoulda given me a call. I loved that generation of the 3-series. Especially with the 335i engine...

My wife loved it also. The only reason we got rid of it is that I was so afraid something would go wrong with the turbo. Every BMW 3 we had with a turbo had a failure at 60,000 miles or so. And the repair has run over $5,000 for new turbo and wastegate.

Now that she drives a 2020 Model 3 AWD she has forgotten all about the 335i.