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My Two Weeks Old Tesla Model 3 Depreciated by 10% Overnight

Discussion in 'Model 3' started by M3OZ, Oct 16, 2020.

  1. 907XCP

    907XCP Member

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    I can attest to the strong resale value, I just sold my 3 in August after almost 2 years of use and 20,000 miles on it for $43,500 when a brand new one for same/better features are $46,990. So that is the best known resale value I’ve seen in any car brand in its category and I’m very pleased that it held its value really well. So I’m still confused as to what misleading information Tesla gave you. It seems like you agreed to buy a product for a certain price with certain features and Tesla agreed to sell it to you. Buyer’s remorse is not misrepresentation by Tesla IMHO.
     
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  2. vickh

    vickh Active Member

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    It's like clockwork.I wonder when the next shoe (price) will drop here in the US

    My strategy buy the cheapest SR (which is a loss leader and less likely to be breached $ wise) , upgrade the software as you go along when they drop prices. Pay with CC and get points too.
     
  3. dmurphy

    dmurphy Woof.

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    My strategy was to buy the car I wanted, drive the sh!! out of it, and not worry about everyone else’s car. So far so good. :)
     
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  4. Uncle Paul

    Uncle Paul Well-Known Member

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    Classic First World Problem.

    Buyers, of course, are not going to be happy is they buy something and it becomes lower priced later. Also not overjoyed to see additional improvements added that they are not getting, but it is just something that happens.
     
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  5. RedWhite19

    RedWhite19 Member

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    I mean what is the real difference here? Slightly better range? How far do you ever plan on driving? To the moon and back?

    Chrome delete? You can take care of that if you want.
    Inside console change? Im sure Nikola Pro or those companies will come up with something that change it and make look like the 2021.

    There really isn’t a huge leap from the 2020 and 2021.

    And not to mention, the rims got much uglier. The new 19 inch sports wheels look awful.
     
    • Like x 1
  6. Vines

    Vines Active Member

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    I started reading this, fully expecting it to look just like the $5k refund to P3 owners thread from late 2018, I am not disappointed.

    I was one of those early buyer P3D owners who got $5k refunded, I look a the price for my brand new P3D and know that if I had just waited 2 years it would have been better, faster, with longer range, I still don't care. It would also be more expensive.

    If I had waited I'd have missed out on 55k miles of pure driving pleasure

    Every single person buying a thing, and watching it go on sale 2 weeks later has a regret, get over it. Except some folks come along and post about how they were wronged because they bought what they agreed to, then it got better as all things should.

    "THEY PUT IT ON SALE!"

    By comparison I bought a 2018 Model 3 performance for $76,000 in September 2018.
    I got a total of $15k back from the state and California refunds, plus the $5k over the Fred debacle. I paid 61k for my car in the end, then bought FSD on sale with my $5k refund when it went on sale for $2k. So I paid $63k.

    Today if you order my car, its exactly $63,990.

    Today its probably worth something like $45k but it really doesn't matter, I am not selling it. Its an amazing car and I just added $5k worth of suspension and Track Shoes. I am saving about $200 per month on fuel, since I charge for free and have a long commute. I hope I am saving some on maintenance, but honestly just not smelling gas all the time, dripping oil, and refueling at home makes it, even if the maintenance is the same.

    Insurance is more expensive by about $70 per month, but the quality of life increase is invaluable. My commute is still a joy 2 years later and I look forward to road trips. I am planning a cross country trip just because of how awesome and cheap it is to travel this way. Last road trip was about 5k miles all around the Southwest.
     
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  7. Chippin

    Chippin Member

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    You can always trade-in and upgrade in a few years when another refresh comes :), which I'm sure is the plan for the majority of tesla owners.

    This cycle will keep continuing, but hopefully you can find some solace in the fact that every tesla owner feels your pain at some point in time!
     
    • Like x 2
  8. Siromnom

    Siromnom Member

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    Agree! Happy with my Aeros from Sept...the new ones are ok. But man if I had gotten the 19" wheels instead I'd be super relieved I got them before the refreshed ones!

    I've enjoyed all the responses to this thread. Your life will be far more enjoyable and less stressful if you spend less time worrying about other people and their things.
     
  9. vickh

    vickh Active Member

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    i hear ya, to each his own. I love my SR too. OP/Thread is complaining about $/ depreciation, so I shared an obsolescence pricing strategy: wait a bit, buy the cheaper end.

    Another way to was to buy used, but with the 3 I noticed used was MORE than new, with fed credits
     
  10. vickh

    vickh Active Member

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    Not the SR yet, although the $25K all-inclusive version is coming :)
     
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  11. sperkin

    sperkin Member

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    I don't have it anymore, but I think it was removed in summer 2019. There used to be a Contact Us section under my Account. You had an option to send it to a regular team or an executive team. I can't even find Contact Us anymore in my account.
     
  12. Rockster

    Rockster Active Member

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    $69,420 today buys way more Model S than my $104,000 P85 Model S from 2015. That’s the nature of high tech. How is your iPhone investment holding up? :rolleyes:
     
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  13. Kevy Baby

    Kevy Baby Dis-Member

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    Okay, I am really not about quoting myself, but I can't figure out why @ForeverFree disagreed with this post. Not hurting my feelings, just cannot understand what about a short, factually correct (by the OP's own admission), non-judgmental, or negative in any way post there was to disagree with (or downvote, or however you look at it. Or was it a wayward click?

    I mean, seriously?!?

    Looking forward to the response from @ForeverFree

    Capture.PNG
     
    • Like x 1
  14. Kevy Baby

    Kevy Baby Dis-Member

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    Well, then you shouldn't have played that song...

    Not bashing on Zep at all (just recently repurchased their entire remastered catalog) - just so sick of THAT song. But I digress.
     
    • Funny x 2
  15. Onshore

    Onshore Member

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    For others reading, there is an Australia specific aspect to this: Foreign exchange volatility.

    In overseas markets, Tesla occasionally increases, or decreases their local pricing based on currency rate changes.

    The Australian dollar plunged about 6 months ago, when the pandemic set in, dropping from its long term "normal" of 1AUD = 0.71USD. It plummeted about 20% to 0.57USD. Tesla upped the local pricing in Australia accordingly about 6 months ago.

    In recent months the AUD has clawed back to its typical pre-pandemic value of around 0.70 USD, and importantly sustained this level for a few months. A significant price cut was always going to happen, even without the MY21 changes.


    fx.jpg
     
    • Informative x 4
  16. M3OZ

    M3OZ Member

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    You don't know what I was planning to do with the car. I was planning to trade-in the car for Model Y when it becomes available in Australia that could be in the next 12 months as we need the bigger space as the family car. So, I made that clear to Tesla rep and therefore were inquiring about the resale/trade-in value at the time of purchase.

    The house example is not equivalent. No two houses even with the floorplan are ever exactly the same. Cars are.

    The argument about Tesla increasing the price and then asking for more money is invalid. The obligations on sellers and buyers are not reciprocal and a simplistic roles reversal argument is trivialising the matter.

    The fact that car salespeople may be dishonest is not a reflection of my naivety but the salespersons lack of moral compass. There are protections in place (at least in Australia) against misleading information that gets enforced often enough to help adjust compasses.

    The simple fact of the matter is Tesla made this decision knowing full well that they will be disadvantaging a group of customers. Most reasonable companies, where customer matters, would take steps to manage the transition. Whilst there is a lot for other car companies to learn from Tesla (and the recent evidence shows that they are and they doing that fast). There is a lot that Tesla should learn from traditional car companies. They are catching up fast and customer service and customer-serving mindset is important.

    Also remember that because something happens all the time is not good argument if you are trying to improve something, it is a recipe for stagnation and accepting the status quo.
     
    • Disagree x 2
  17. jjrandorin

    jjrandorin Another BMW convert

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    Buying a new car and planning to sell it in 12 months is ALWAYS a recipe for losing money, its just "how much are you going to lose". By saying you were planning to sell it in 12 months, you already decided to lose money.

    your argument has zero validity.
     
    • Like x 8
  18. M3OZ

    M3OZ Member

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    I did not say I did not expect depreciation. I said I enquired about the resale value and was given very strong assurances that resale value within 12 months would be in the order of 90-95%. But when the Tesla did what it did, I lost at least another 10% overnight.

    My arguments are about misrepresentation, the need to improve change management and a customer-centric approach sales and support. You and other Tesla fanboys don't have to agree with me and can continue to put up with a behaviour that seems to hold customers in contempt. That is absolutely your prerogative.
     
    • Disagree x 6
  19. jjrandorin

    jjrandorin Another BMW convert

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    There it IS! Was waiting for you to throw out the "Tesla Fanboy" argument that everyone seems to use when people dont agree with them. Just because I think that posting an argument about depreciation right after you buy a car is silly, and expecting a manufacturer to somehow make you whole because you lost money on a deal due to timing, doesnt make me or anyone else with reason a "fanboy".

    Saying "this happens among all manufacturers, it has happened to you every single time you bought a car but you didnt know it" does not make one a fanboy, but hey, if it makes you feel better to think that anyone who doesnt agree with your position needs to be a tesla fanboy / fangirl, you do you.
     
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  20. Snowstorm

    Snowstorm Active Member

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    This is advancement. We have to get used to it. Think of your computer in the 2000’s, your Xbox or PS3.

    Unless you are planning to sell your car right now, nothing is lost. In fact, with OTA updates your car probably will be better in a couple of months compared to when you bought it.

    I bought one of the first model s 100d for >$100k 3 years ago and now the LR model S is only $69k better faster and longer range. I am still very happy and my car is better than new with all the updates (including MCU2 retrofit)

    This is progress and we are all a part of it.
     
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