Only $40,600 trade-in value on my one-month-new 3 w/ 1,400 miles!

[ivan801]

Besides what has already been mentioned above, you also need to consider two additional factors that contributed to no offers situation:
- A lot of states where majority of M3 buyers live offer additional discounts ranging from $2k to $5k
- Not a lot of people would want to deal with buying a car from private party in Iowa, and those who would consider it would bake in shipping costs into their offers.

 

[jkoya]

Yes, 2014 Cadillac ELR; awesome vehicle...but not quite a Tesla And if you look real close, you'll see the ELR's little brother behind it - our 2013 Chevy Volt, which I also love. It's an ELR without the fancy prom dress and high heels

Nice ! I had to enlarge the pic in order to see the Volt. I have a 2016 Volt and I plan to keep it, as it has been a very reliable car. I was sad to hear that GM was discontinuing Volt production.

 

[2012MS85]

Nice ! I had to enlarge the pic in order to see the Volt. I have a 2016 Volt and I plan to keep it, as it has been a very reliable car. I was sad to hear that GM was discontinuing Volt production.

I agree; the Volt (and ELR) are absolutely brilliant designs because of the 9-gallons of gas to ensure zero range anxiety (a bonus 300 miles). In spite of the gas backup, we drive our Volt and ELR 99% on electricity that comes from our 60 solar panels. During extreme cold, I totally prefer my Volt over my Teslas. When my wife and I flew to Cancun and had to drive 3-hours each way to O'Hare plus leave our car parked in sub-zero temps for 8 days, the Volt was the perfect solution. A Tesla never would have worked. GM totally blew it, which they seem to be pros at after their EV1 debacle. So sad when they designed and built such an enjoyable car in the Volt. Plus it's a cheap used car for anyone trying to give an EV a chance (or wants a great car for a teenager for under $10k). Actually, you can pick up a pristine ELR for $20-25k (that had an original Monroney sticker of $75-82k), which is truly a steal if you love the look and feel of the ELR as I do

 

[jkoya]

60 solar panels.

60 panels - that's nice !! We only had space for 36 panels. I've always liked the ELR and usually check the local GM dealers for used ones.
I'm also hoping the rumors are true and GM will produce an electric version of the upcoming Mid-Engine Corvette C8. There are a lot of rumors on the mid-engine Corvette forum, since GM supposedly applied for a trademark for the name "e-ray". I'm crossing my fingers for a 2 seater electric car.

 

[TeeEmCee]

That actually sounds pretty fair -- even though, like you, I would not take the offer. Fairly typical is a 20% depreciation hit the moment you walk off the lot with a new car...Tesla's offer was a trade-in (which is wholesale) and was "only" 17% less that you "net" purchase price...

Not really, I was offered quite a bit more for my slightly older car, with more miles and no EAP.

 

[jeffro01]

I'm still confused as to the claim that EAP isn't helpful in their driving situation... EAP is helpful in ALL driving situations... No wonder the OP doesn't understand basic car depreciation concepts...

Jeff

 

[NeverFollow]

View attachment 373386

I wonder where do you keep your two Tesla charged?
Is it inside the garage? But the Limo seems blocking access.

In my case I always put my car next to the charger and almost always plug-in,
so I don't forget, even knowing that I'll charge after 11 pm.

 

[MXWing]

1,400 miles and not a scratch. Well, Tesla offered only $40,600, which amounts to $14,100 less than I paid Tesla last month, which is a whopping $10 per mile of depreciation

I still have no idea what I read. Other than if you did the same exercise but with 14 miles only you'd probably be looking at the ~ same offer from Tesla.

That would be a whopping $1,000 per mile of depreciation???

Your scenario is not a realistic one. Unless there's some obscene subsidy arbitraging scenario one doesn't buy a car for a month and immediately turn it back in.

Cheaper for you to pay someone to use your code or buy the Arachnids outright on the secondary market.

 

[2012MS85]

I'm still confused as to the claim that EAP isn't helpful in their driving situation... EAP is helpful in ALL driving situations... No wonder the OP doesn't understand basic car depreciation concepts...

Jeff

In my area, we don’t have significant stop-n-go traffic, nor do we have roads that are consistently marked well enough for EAP to work properly. For example, I leave my house and turn on EAP and within a few blocks the road widens and parked cars confuse EAP every time. The result is EAP freaking out and giving me the loud alarm and flashing red steering wheel alert that tells me to immediately take over. If I don’t, it slams on the brakes. Hard! Not exactly how I like to start my day at 5:30am, before coffee. My teenage daughter is more respectful than EAP is My entire drive to work is 13 minutes, so fighting with EAP often isn’t worth it. On my 11 miles to work, EAP will turn off (due to a lack of clear road markings) a dozen times. Resetting EAP literally every minute, and then waiting for it to fail or freak out isn’t “helpful in ALL driving situations.” Clearly EAP works better for you; glad for you. It’s different for others.

 

[2012MS85]

I wonder where do you keep your two Tesla charged?
Is it inside the garage? But the Limo seems blocking access.

In my case I always put my car next to the charger and almost always plug-in,
so I don't forget, even knowing that I'll charge after 11 pm.

All my vehicles get to sleep inside Since I love my Teslas best, those two (plus either the ELR or Volt) are parked inside our attached 3-car garage that’s out of view, on the opposite side of our circle driveway. The limos and all other cars and toys go inside the detached 20-car garage in the picture. No vehicles are harmed by sub-zero Iowa winter weather

 

[2012MS85]

I still have no idea what I read. Other than if you did the same exercise but with 14 miles only you'd probably be looking at the ~ same offer from Tesla.

That would be a whopping $1,000 per mile of depreciation???

Your scenario is not a realistic one. Unless there's some obscene subsidy arbitraging scenario one doesn't buy a car for a month and immediately turn it back in.

Cheaper for you to pay someone to use your code or buy the Arachnids outright on the secondary market.

I don’t disagree with you. I simply wanted to know what Tesla would pay for a like new 3 on a trade in (thinking they MIGHT be motivated for the INCREMENTAL sale given their large sitting inventory), so I asked. I then shared that information here on TMC for those who care. It clearly made no sense to trade in, which is why I didn’t. And I got my 3rd referral anyway, so my Arachnids cost me nothing.

I was simply sharing real-world numbers to benefit others who might be curious. There’s massive disinformation about high resale values, including 3s for sale. So my info will help lower expectations of what someone might expect (i.e., KBB had my trade-in value, as of last month, at $47-51k, which was obviously WAY off given Tesla’s $40,600 years offer).

 

[SoccerMan94043]

I just sold my Model S to vroom.com... which offered me more than anyone else by far (though I suspect I could have held out for 2K more to a private seller)... with so many more on the market and new only costing 2K or so over what people are willing to sell them for and Elon dropping the bottom out, it's not going to get better.

 

[MXWing]

I don’t disagree with you. I simply wanted to know what Tesla would pay for a like new 3 on a trade in (thinking they MIGHT be motivated for the INCREMENTAL sale given their large sitting inventory), so I asked. I then shared that information here on TMC for those who care. It clearly made no sense to trade in, which is why I didn’t. And I got my 3rd referral anyway, so my Arachnids cost me nothing.

I was simply sharing real-world numbers to benefit others who might be curious. There’s massive disinformation about high resale values, including 3s for sale. So my info will help lower expectations of what someone might expect (i.e., KBB had my trade-in value, as of last month, at $47-51k, which was obviously WAY off given Tesla’s $40,600 years offer).

Tesla needs inventory to capture same day purchases.

Unsold stacks of inventory would be every gallery having 3 of each color of each trim just hanging out without an assigned buyer. Parking lots filing up and Tesla ceasing production.

In my state, price of your car is 43,350 before taxes and registration.

So what are you expecting to get?

A more interesting figure to look at is what point does it fall below 35K, regardless of how old or how many miles. It would take awhile.

You practically took 50% of your depreciation hit already.

 

[Michael A]

I am at $44,650 in NY after all discounts and credits for a 2019 MR, AP with white interior. Personally I wouldn't order AP or white interior, save $6k or buy a dual motor for $45,650. I am definitely seeing used prices starting to soften on the Model 3 over the past few weeks.
I have or had an opportunity to buy a LR single motor with AP and 19" wheels for $44,000. It was just too close pricewise to a 2019 dual motor.

 

[borugee]

View attachment 373386 Monroney was $54,700.

You are missing the point your real cost is what you paid minus tax rebates? All ev's have the problem. Even on Tesla web-site advertising, real cost of ownership is less that what you pay. For this reason, as soon as you take delivery, Price drops by 10k.

 

[2012MS85]

Tesla needs inventory to capture same day purchases.

Unsold stacks of inventory would be every gallery having 3 of each color of each trim just hanging out without an assigned buyer. Parking lots filing up and Tesla ceasing production.

In my state, price of your car is 43,350 before taxes and registration.

So what are you expecting to get?

A more interesting figure to look at is what point does it fall below 35K, regardless of how old or how many miles. It would take awhile.

You practically took 50% of your depreciation hit already.

Perhaps you never read my original post. Or any subsequent post.

I merely sought market data - I asked Tesla if their trade in price was anywhere close to KBB’s estimated trade in value? It wasn’t, so I posted said data points here on TMC so curious folks who cared could learn real-world facts. Not for one millisecond did I consider accepting Tesla’s offer, nor did I ever think I would. Please read my posts before asking “So what are you expecting to get?” I’m not expecting anything

 

[redgt]

Perhaps you never read my original post. Or any subsequent post.

I merely sought market data - I asked Tesla if their trade in price was anywhere close to KBB’s estimated trade in value? It wasn’t, so I posted said data points here on TMC so curious folks who cared could learn real-world facts. Not for one millisecond did I consider accepting Tesla’s offer, nor did I ever think I would. Please read my posts before asking “So what are you expecting to get?” I’m not expecting anything

merely sought market data but listed it here and other places for sale for $49999

you have a interesting way of doing research

 

[2012MS85]

You are missing the point your real cost is what you paid minus tax rebates? All ev's have the problem. Even on Tesla web-site advertising, real cost of ownership is less that what you pay. For this reason, as soon as you take delivery, Price drops by 10k.

Folks, with no disrespect intended, it is YOU who are missing MY point. I never planned on selling my 3. I love it. I simply posted real-world market data on this thread so those who care could benefit from knowing my real-world offer by Tesla. Many uninformed folks - including Kelly Blue Book - keep publishing totally false data (unrealistically high resale values for a 3) and I didn’t believe that anyone’s 3 was worth THAT much. So I asked! And then I shared that dollar amount with you... And then people lost their common sense They started posting MY VERY HYPOTHESIS - a used 3 isn’t worth as much as everyone thinks! Duh. This was intended to be an educational post; nothing more. Thanks for playing

 

[2012MS85]

merely sought market data but listed it here and other places for sale for $49999

you have a interesting way of doing research

Zero cost posting here, as well as cars.com. And if my 3 was really worth what KBB stated ($50k’ish), then I would have had legit offers. And I didn’t. End of story/research.

Please advise of a better way you know of gaining real-world fair market value?

 

[MXWing]

@2012MS85

I think you are a high value person because of your contributions but the data you are presenting in this case is low value. The hypothesis should be KBB can’t value Tesla’s properly not that it grossly overvalues them.

It’s intuitive that you should not be able to sell a used car for the same price as a new car. You don’t need KBB for this and KBB is not useful for Tesla’s anyway.

Only exception is a supply constraint but that has not been an issue for 6 months.

Do you think KBB would make this valuation call correctly? I would guarantee it can’t.

September 2016 Model S < February 2017 Model S < November 2016 Model S

Ceteris paribus

Please advise of a better way you know of gaining real-world fair market value?

List on eBay with no reserve. You can also look at sold listings and see what the final price was.

A huge problem is data is not plentiful for brand new Model 3s with only 1400 miles. You already have so much AFD (average fixed depreciation) that your AVD (average variable depreciation) is nominal.