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Opinions on depreciation rate of a model 3 in Canada.

Discussion in 'Model 3' started by Webeevdrivers, Jul 7, 2018.

  1. Webeevdrivers

    Webeevdrivers Member

    Joined:
    Jan 2, 2017
    Messages:
    465
    Location:
    Canada
    Hi folks. As per the title. We have a long standing rule of putting down minimum 25 percent plus all the tax when buying a depreciating asset like a car on credit. Kind of avoids ever being upside down in a loan and if something bad happens we can always sell without being upside down. So curious what people think the depreciation rate would be on a Tesla. Still a couple years away for us and still kinda waiting to see how the trade war with the US goes but assuming that sorts itself out we still have the Long Range Leaf or Model 3 Tesla in the mix.

    As well, curious on what Canadians are getting for rates thru Tesla financing...if that even exists in Canada.

    Thanks in Advance.
     
  2. M109Rider

    M109Rider Member

    Joined:
    Apr 8, 2018
    Messages:
    237
    Location:
    Kitchener, Ontario
    I’m not sure what the depreciation rate would be for these cars.
    I believe that would mainly depend on competition over the coming years.

    As for the rates, this is what I believe the latest rates are. :

    Term & Rate
    96. 4.6%
    84. 4.14%
    72. 3.99%
    60 3.91%
     
  3. iwannam3

    iwannam3 Member

    Joined:
    Aug 8, 2016
    Messages:
    569
    Location:
    Washington
    If Trump keeps up like he has, Canada could put a tariff on US cars so new cars in Canada would be more expensive, raising the price of used cars. Please annex Washington State.
     
    • Like x 1
  4. felixculpas

    felixculpas Member

    Joined:
    Jun 11, 2018
    Messages:
    458
    Location:
    Ontario, Canada
    Depreciation will also be affected by whether or not a rebate was available I would imagine.

    Instead of selling Alaska for what, $50M...we should have traded for Washington State :)
     

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