Netting zero dollars on 2018 MX P100D trade in for the new “Raven”

[ElecShadow]

Hey guys. I took delivery of my MX P100D late December of 2018, and was thinking today that there might be a chance (due to the recent price cuts and free ludicrous upgrade) that I might be able to trade in my current car for the recently upgraded one without spending any additional money. The sticker price was approx $165k and I paid upfront. Today I just went on the online config, and its telling me the purchase price of the exact same config is $108k, despite the fact that “the raven” now has AP3, upgraded suspension and motors (this is without including the $20k value of ludicrous, which will come free).

My car would have had to depreciate by aprox. 35% for me NOT to be able to trade it in for the newer model and net a balance of zero dollars. My question is, is 35% depreciation normal for a 6 month old car with 10,000 miles on it? If its not, what is? In an ideal world I’d be able to trade it in, get the model with new motors, upgrade to FSD, and maybe change the wheels This seems too good to be true though, and I’m not sure how Tesla will respond. They’re running a trade in value of my car today and I’ll hear back from them tomorrow. What do you all think?

 

[OBX John]

Makes sense to me, and yes, they really have depreciated that much. The 20K free ludicrous is the difference maker. I just had my $115K car totaled for $81K less than two years after delivery, and that's a good price compared to the low 70s it's maybe worth considering the competition from new cars.

 

[Tam]

...depreciate...

Tesla has a double factors:

1) In general, cars do depreciate as soon as you bought them.

2) Also, in general, high tech items might get cheaper too.

I knew that since I bought my first Tesla in 2012. I have bought 3 Tesla cars so far and each time they all depreciate.

Cheaper price and depreciation might be bad for me but as things got cheaper and cheaper and they just get better and better, I still think it's a good thing for every one as a whole.

It's a price that I am willing to pay for progress.

Absolutely no complaint from me on this subject!

 

[Lostb0y]

Yeah I was at Tesla today to discuss trading in my SR Plus in a duel motor long range. My car is 1.5 months old worn 5k. It was 30% so I’m passing.

 

[ammulder]

Bear in mind that nobody I’ve seen has gotten the best offer for a Tesla from Tesla — third parties or private sales seem to net notably more.

 

[xp3nd4bl3]

I believe that the two fastest depreciating assets in this world are (1) bleeding edge technology and (2) high-end luxury cars. You spent $165K on something that is the pinnacle of both. If you get out of it without losing your ass you did well.

 

[redgt]

165k was that including tax and license? curious of the exact build

the 108k you quote is actually 128k correct? since you are counting a 20k discount?

 

[PhaseWhite]

Hey guys. I took delivery of my MX P100D late December of 2018, and was thinking today that there might be a chance (due to the recent price cuts and free ludicrous upgrade) that I might be able to trade in my current car for the recently upgraded one without spending any additional money. The sticker price was approx $165k and I paid upfront. Today I just went on the online config, and its telling me the purchase price of the exact same config is $108k, despite the fact that “the raven” now has AP3, upgraded suspension and motors (this is without including the $20k value of ludicrous, which will come free).

My car would have had to depreciate by aprox. 35% for me NOT to be able to trade it in for the newer model and net a balance of zero dollars. My question is, is 35% depreciation normal for a 6 month old car with 10,000 miles on it? If its not, what is? In an ideal world I’d be able to trade it in, get the model with new motors, upgrade to FSD, and maybe change the wheels This seems too good to be true though, and I’m not sure how Tesla will respond. They’re running a trade in value of my car today and I’ll hear back from them tomorrow. What do you all think?

The effect of Tesla's price drops has unfortunately caused much higher depreciation than you would normally expect. For the same reason you want to upgrade, nobody will pay the same price for a used version without the new upgrades. For the trade in to be worth it to Tesla they need to buy much lower than the price someone would pay, so by this simple math your car is worth quite a bit less than the new version with the upgrades.

 

[P85_DA]

Lol I’m in same boat as OP 2018 X P100D ...this being my third Tesla ..I’m not falling for the new tech anymore ...I’m just going to enjoy what I have it’s still fast

 

[ElecShadow]

165k was that including tax and license? curious of the exact build

the 108k you quote is actually 128k correct? since you are counting a 20k discount?

Yea it was the final bill for everything. Config was Black P100D with ash wood and black leather interior, factory 20s, 6 seat interior, enhanced AP. I live in NYC so state tax is high, and the $165k figure was also without including the $7500 tax rebate. And yes the 108k was accounting for the ludicrous discount.

so by this simple math your car is worth quite a bit less than the new version with the upgrades.

Yea that makes alot of sense to me. If I’m fully honest, I actually have no issue with the rate of depreciation on the car because I agree with some of the above posts about early adoption and bleeding edge tech. The cars don’t depreciate because they lose functionality, they depreciate because the company invents and improves so rapidly... I believe in Tesla and am willing to be one of the ones helping pave the way to ultimately advance their mission towards global sustainability. However, faster supercharging would be nice!

 

[P85_DA]

Yea it was the final bill for everything. Config was Black P100D with ash wood and black leather interior, factory 20s, 6 seat interior, enhanced AP. I live in NYC so state tax is high, and the $165k figure was also without including the $7500 tax rebate. And yes the 108k was accounting for the ludicrous discount.



Yea that makes alot of sense to me. If I’m fully honest, I actually have no issue with the rate of depreciation on the car because I agree with some of the above posts about early adoption and bleeding edge tech. The cars don’t depreciate because they lose functionality, they depreciate because the company invents and improves so rapidly... I believe in Tesla and am willing to be one of the ones helping pave the way to ultimately advance their mission towards global sustainability. However, faster supercharging would be nice!

As much as I like the new tech of the XP100D there is just not enough there to pull the trigger plus I did my 179 depreciation already. ...my car was built few weeks before MCU2 so I ended up missing that as well...the net range increase on the P100 is less than 30miles in real world driving won’t make a difference ...also I have gotten 150kw charging already so the bump up to 200k is not going to make much diff in my long distance driving ..My $0.02

 

[ElecShadow]

...plus I did my 179 depreciation already.

...also I have gotten 150kw charging already so the bump up to 200k is not going to make much diff in my long distance driving ..My $0.02

Hahah seems like we all have to offer penance for Tesla’s extraordinary innovation. But also wait, you’re getting 150kwh SC rates on old tech? What year is your X/which superchargers are you getting these rates on? v3? I’m still getting 116kwh rates... software 2019.8.5

 

[P85_DA]

Hahah seems like we all have to offer penance for Tesla’s extraordinary innovation. But also wait, you’re getting 150kwh SC rates on old tech? What year is your X/which superchargers are you getting these rates on? v3? I’m still getting 116kwh rates... software 2019.8.5

Mine is 2018 early build ..u need to be on 12.1 and higher to get the higher speeds ...you don’t need to go to a V3 SC to get the 150 speeds ..u just need to navigate to one (V2)to let battery warm up ..in the nav if u click a SC icon it will say if 150 capable ..

 

[ElecShadow]

Mine is 2018 early build ..u need to be on 12.1 and higher to get the higher speeds ...you don’t need to go to a V3 SC to get the 150 speeds ..u just need to navigate to one to let battery warm up ..in the nav if u click a SC icon it will say if 150 capable ..

Got it, thanks. Still waiting for that update then. Makes sense though what you were saying that theres not enough new upgrades on the latest model X and S for you to pull the trigger. I should appreciate what I have... Personally as a new owner its difficult for me to watch news about Tesla and not get FOMO about the latest tech developments, especially watching my friends and their model 3s which seem to have the most optimized software and tech. Still salty that my sentry mode HAL eye doesn’t blink when active like it does in the m3

 

[P85_DA]

Tesla and not get FOMO about the latest tech developments, especially wat

Lol this was me going from P85+ —> P85D to current XP100D

These are great cars

 

[playoutside]

I’m not sure how Tesla will respond. They’re running a trade in value of my car today and I’ll hear back from them tomorrow. What do you all think?

My guess is $77.5K. Let’s see who gets closest!

 

[P85_DA]

My guess is $77.5K. Let’s see who gets closest!

I would say that is about right prob no more than 85k max ..

 

[ElecShadow]

My guess is $77.5K. Let’s see who gets closest!

That would make sense, even though it’s depressingly low... I’m seeing 2018 100Ds selling on 3rd party websites for ~95k, so I assume tesla would offer 15k less than that for their own profitability

 

[Genova]

Are we really getting value out of Tesla? The internal designs for the Models X and S are so dated. The external designs are not sharp. How could a $120K+ luxury car not have sufficient cup holders in the middle row (In Model S), captain chairs don't have armrests (in Model X), no wireless charging, no Android/Apple phone connect, etc. Seems we are all being conned by the master salesman himself.

 

[HankLloydRight]

Yeah I was at Tesla today to discuss trading in my SR Plus in a duel motor long range. My car is 1.5 months old worn 5k. It was 30% so I’m passing.

I have no idea if the results will be any different, but try contacting Current Automotive for a buyout offer: Current Automotive | Pre-Owned Electric Vehicle Store in Naperville, IL

Tell them: "Hank sent me."

(or maybe it was Ken?)