Need advice on purchase

[Lobstakilla]

I have been bitten by the Tesla bug. I test drive a gorgeous blue 2016 75 today and I was blown away to say the least. What a car! I am coming from SUV's and worried a car wouldn't be for me, boy was I wrong.

My question is this, I have found some good 2016's at the dealership which I can take advantage of the tax credit and be out the door for around 72k. I found some CPO and private seller 2013's for around $55k. In your opinion is there a category you would lean towards more? Is it better getting the newer car and dealing with the steep depreciation in the beginning or get a car a few years older that has taken the hit? On first thought, I would have gone for the older but knowing I will probably keep this car for 4-5 years I wonder how hard it will be to sell a 8-9 year old tesla and at what price.

Any advice would be great, I look forward to spending much more time here.

Thanks

 

[Az_Rael]

If you do plan to keep the car a while, buying new can be a good idea. You get AP 2.0 (assuming you arent looking at an inventory AP 1 car - I would want a very good discount if thats what you are looking at).

I am going the opposite route and getting the non-AP CPO. Mostly because I have a 3 reservation and I am not sure how long I will keep the S once the 3 is out and widely available. Many here will tell you to buy new, but old Teslas are still amazing cars and well worth driving even if they don't have the latest tech.

 

[Lobstakilla]

If you do plan to keep the car a while, buying new can be a good idea. You get AP 2.0 (assuming you arent looking at an inventory AP 1 car - I would want a very good discount if thats what you are looking at).

I am going the opposite route and getting the non-AP CPO. Mostly because I have a 3 reservation and I am not sure how long I will keep the S once the 3 is out and widely available. Many here will tell you to buy new, but old Teslas are still amazing cars and well worth driving even if they don't have the latest tech.

You brought up some great points. The car I was looking at was an inventory car with 150 miles on it and ap1.0. There was a deduction of $2300 on the price.

I too have a model 3 reservation, but have grown concerned that it will feel too small to me.

 

[brkaus]

It's your call on value of AP1.0 vs AP2.0. Some here are cancelling delivery, giving up $2500 deposit and paying more to reorder a car with AP2.0.

 

[davidc18]

Unless you must purchase now, wait for December when there is a chance that the firesale prices on inventory vehicles will return so Tesla can make the 4th quarter numbers.

If you are thinking new, get AP 2.0. I would not consider any inventory AP 1.0 car without a 20%+ discount on the car (at a minimum).

If AP is not on your wish list, I would look at the 2014 CPOs.

 

[NAVALARCHITECT]

Assuming you'd get that CPO, drive it during 4-5 year period, warranty is out, old hardware is there and Model 3 sales in full swing, the value of that 2013/4 CPO non AP could take a nose dive as this car is highly based on technology not like you're average CPO ICE vehicle. It's a great car regardless of what year you are getting but just wondering what that 70k+ of a used CPO will be like in 5 years.

 

[davidc18]

At some point they will level out at a minimum value. There are some high mileage cars out there and they are holding up pretty well.

 

[brkaus]

Assuming you'd get that CPO, drive it during 4-5 year period, warranty is out, old hardware is there and Model 3 sales in full swing, the value of that 2013/4 CPO non AP could take a nose dive as this car is highly based on technology not like you're average CPO ICE vehicle. It's a great car regardless of what year you are getting but just wondering what that 70k+ of a used CPO will be like in 5 years.

All 6-8 year old expensive cars take a nose dive...

 

[BBB4000]

I had the same dilemma. If you ignore the economics of the equation for a second there are a few compelling reasons to get a new car. You get AP2.0, AWD, and a new battery. You also get a custom car spec'ed exactly how you want it. Depending on the CPO model you go with you might not have as much warranty on the battery - which costs an ungodly amount to replace.

If the new Model S is at the edge of your affordability then certainly the CPO is the smarter move financially. You probably won't realize what you're missing if you went with a CPO.

 

[sorka]

I'd also wait til december. Not only will Tesla be trying trying every trick they can to lower prices, December is the best time of year from a deal making standpoint to buy an auto.

 

[Az_Rael]

70k+ of a used CPO will be like in 5 years.

Ah, but the CPOs of that era arent 70k today. They are 55k. So the OP saves 15k right off the bat with a CPO. With the 8 year unlimited mile warranty, a 2013 can be driven until 2021 with no battery worries at all. Now you cant get the extended warranty on a CPO, so 50k miles of bumper to bumper is all you get.

I doubt a used Model S will ever drop below the going rate for its battery. They will always have a floor because of that. just like 4x4 trucks. They are always worth something because they are a 4x4 no matter how old they are.

 

[Pollux]

OP,

If you do decide to purchase a '13 in a private sale, make sure you get one with an extended warranty so that you have at least a few years of warranty coverage.

(I'm a '13 owner with an extended warranty. I'm also about to either trade-in or sell my '13 P85+, so consider that a bias on my part.)

Alan

 

[BBB4000]

With the 8 year unlimited mile warranty, a 2013 can be driven until 2021 with no battery worries at all. Now you cant get the extended warranty on a CPO, so 50k miles of bumper to bumper is all you get.

You only get the 8 year warranty on 85's and up.

 

[997cab]

My MS 60 (9-23-16) warranty came with 8 year/125,00 mile for the drive train & battery. 4 year/50,000 for the rest.

 

[BBB4000]

My MS 60 (9-23-16) warranty came with 8 year/125,00 mile for the drive train & battery. 4 year/50,000 for the rest.

Sorry, I meant you only get the 8 year battery warranty on 85's and up for CPO's. All new cars get the 8 year battery warranty.

 

[GasKilla]

You brought up some great points. The car I was looking at was an inventory car with 150 miles on it and ap1.0. There was a deduction of $2300 on the price.

I too have a model 3 reservation, but have grown concerned that it will feel too small to me.

Find out if you can use a referal code on the inventory car for an extra $1k off the price. If you can't then you can use the $1k off a new car that's built exactly as you like it, the difference is only $1300 and you get the latest tech.

I was on the fence about a getting a CPO car or new for a long time, ended up with a new MS for many reasons but couldn't be happier with my decision.

 

[Lobstakilla]

Thanks for all the great advice. I decided to go with a 2016 60 with the pano roof, ap2.0, Pearl white, and matte wood.

There are some good CPO deals, but in the back of my mind the fact that this is a tech has car me concerned. I am going to order it right away as I would love to get delivery before the end of the year so I don't have to wait another year for tax credit.

Now my only other question is this, lease or loan? At the 3 year mark, it is basically even money. Is the current MS a car you could see yourself owning for 6 years? Any ideas on when they will do a total overhaul on appearance? I am also a model 3 deposit holder, but just fear it may be a little small. Plus waiting 2 more years is too tough.

Thanks for all the great advice, much appreciated.

 

[JClu]

Now my only other question is this, lease or loan? At the 3 year mark, it is basically even money. Is the current MS a car you could see yourself owning for 6 years? Any ideas on when they will do a total overhaul on appearance? I am also a model 3 deposit holder, but just fear it may be a little small. Plus waiting 2 more years is too tough.

I think the lease vs loan decision very much depends on how you like and drive your car. I've seen many passionate discussions on these forums, from both sides of argument. Basically, are you the type who like to have the newest gadgets constantly (whether or not they are proven to be useful)? If so, lease. I tend to be the opposite. I tend to keep my cars for a long time, and I'm OK with not having the latest options all the time. So for me buying makes sense.