So I purchased my first Tesla just over 2 years ago. I ended buying the Tesla Model S P90DL. At first I absolutely loved the car and today I still love it but it has depreciated 50% of the original value in just over 2 years! I don’t care how much I love any car, this is completely unacceptable and I will never buy another one again! Most cars especially luxury cars lose 55% over 5 years! The 2016 P90DL that cost $145K are selling in the $60k’s and $70k’s range! And most if not all the blame falls on Tesla themselves because it’s their used vehicles that are determining the value since they are basically giving them away! On top of that they have lowered the price on the P100DL etc, which is completely the wrong thing to do when manufacturing cars. Every other luxury car slightly increases the price year after year. The people working at Tesla are either some of the dumbest individuals or they are the dumbest individuals and are ruining Every aspects of ownership of having a Tesla. I remember reading Elon Musk promise that Tesla’s would keep their value better than or equal any other manufacturer when it came to Tesla’s retaining their value. He even went as far as saying that he would guarantee that they would hold their value or they would buy the car back at top price in order to convince owners to purchase their cars and not to worry of the car depreciating like other luxury cars. Well they aren’t, they are the most depreciating in history and they need to fix this before everyone like myself decides never to buy another Tesla again! At this point the only way to not lose a fortune would be too lease the car otherwise you can expect to lose everything you put down and much more when you decide to sale. I have never seen any car go from $145K to $70k in the matter of 2-2 1/2 years. As much as I love the car they will never get my business again and this doesn’t include tons of other shady lies and restrictions they have been caught doing in order to keep them from having their batteries. At this point I have lost all faith, trust, and desire to ever be part of the Tesla family again. If your contemplating purchasing a Tesla DON’T! The resale value is nothing less than pathetic and clearly Tesla does not care, on the contrary it seems like they are trying to accomplish this and succeeding. I can’t wait to get rid of this money pit and never buy another Tesla again. With so many other ev vehicles poised to be released, it’s only a matter of time that they lose every customer since they have no clue how to keep their vehicles maintaining the value they should. Which should not be that hard considering the warranties they offer as well of the fact that they are supposed to be able to get 500k miles yet they lose 50% of their value in a measly 2 years! Farewell Tesla your time is UP!!!
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Owner Frustrated with Tesla Depreciation
- Thread starter MelvinLee
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If you love the car so much, why do you care what the car would sell for now? Just continue to enjoy it. If you like the house you're living in but it dropped in value, would you be angry at the builder or would you just continue to enjoy living in the house?
Would you rather Tesla stopped innovating and improving the product so your purchase would maintain it's value longer? That's not going to happen.
Would you rather Tesla stopped innovating and improving the product so your purchase would maintain it's value longer? That's not going to happen.
Supply and demand.... You are venting to the wrong audience. We are either avid new Tesla purchasers or savy CPO purchasers. In either case, both are spending to a self-prescribed $$ limit. Even if your used Tesla was a Rolls Royce, it still boils down to supply and demand (at that particular moment in time).
No has nothing to do with supply and demand. Tesla is choosing to decide their CPO pricing. They are the ones that want too dump all AP1 Tesla’s for absolutely nothing. The prices are a complete reflection of what they are selling their CPO’s for. No one who paid $145k would sale their car for $70k. But when Tesla has 20 in every state then you the owner has no choice since they are setting the market value
I don’t know if you are right about the depreciation but you have two things going against you: 90kwh battery v1 is not very popular with performance crowd, performance vehicles devalue faster.
seattlite2004
Active Member
I have a 2016.5 with V3 battery. Check their CPO cars. The 2016.5 even with a V3 is still being sold in the $70k’s. The only thing that would help it is if it had Ap2 and FSD
ucmndd
Well-Known Member
Wait. You mean automobiles and emerging technologies lose value over time ?!?!
Damn. I wish someone would have told me that!
Damn. I wish someone would have told me that!
afinegan
Member
Buys car thinking its a good investment, complains about said car when it depreciates..... lol - cars are never a good investment(unless its a stick-shift supercar atm), you will lose money, enjoy the damn thing
I chose to buy based upon the price crossing my prescribed number. If units are not selling (either because of supply glut, economic downturn, bad press, etc) the selling price will always reflect. There remain consistent ‘for sale’ vehicle numbers on the Tesla website (about 1,500 on any given day). If, as you seem to believe, that Tesla is dumping these on the open market, then we should see a corresponding vacuum of available vehicles for sale. But we don’t see a vacuum. So your logic is not correct.
High tech products that change rapidly depreciate more quickly than products that do not change as fast. Phones and computers become worthless in a few years as newer and better models are released. A Tesla is more like a phone than a car. You can buy a M3P that is almost as fast as your MS P90DL for half of what you paid. Its a little smaller and simpler but the tech and costs have advanced. Tesla does not set the value of its CPO cars, the market does. This is the same for every car manufacturer. They have to be competitive with dealers and individuals selling cars. It comes down to supply and demand. Older tech has less demand. You are advocating that Tesla keep raising the price of new cars to support the used car market and the value of owners' cars. This is a ludicrous business model completely contrary to a competitive market and Tesla's mission of driving electric vehicle adoption. Your car depreciated because the tech has advanced - better battery, better autopilot and lower manufacturing costs. Cars are depreciating assets. People who are early adopters of any new tech pay the most and suffer the most depreciation. You got to drive one of the most advanced and fastest vehicles at any price well before others could afford to do so. Tesla owes you nothing just like Apple owes you nothing for the phone you purchased 3 years ago that is worthless today. Grow up.
This is the second post I've seen like this from people that have never owner an S class or 8 series. Tesla actually holds its value slightly better than BMW or Mercedes cars in the same class, but it's not like they can reverse market trends as old as cars have been sold. Six figure cars do not depreciate like your old Prius!
Tic-tac-toe
Member
You are guaranteed to lose money when you purchase a car. Cars are depreciating assets from the get go. Are you trying to sell your car that you claim to love and realize the loss in value? If you are simply upset that it is not as valuable as when you bought it, shut up and enjoy
... think of it like a marriage, no one stays young and beautiful forever.
... think of it like a marriage, no one stays young and beautiful forever.
Naekuh
Member
this is true, however you can never drive the thing in worries that even a insect going splat on your hood or windshield will take a hit in your resell.
But yeah... get a Pagani, or a Koenigsegg, and im pretty sure as long as its sitting in the show room all the time and not driven, it will hold if not gain in value..
You bought a $145K tech gadget masquerading as a car. What did you think was going to happen?
And don’t feel bad. The same thing is going to happen to all the people currently buying AP 2.5 vehicles who are expecting them to be FSD capable.
The real lesson here is; only buy used Tesla’s.
And don’t feel bad. The same thing is going to happen to all the people currently buying AP 2.5 vehicles who are expecting them to be FSD capable.
The real lesson here is; only buy used Tesla’s.
afinegan
Member
I still dont regret buy the Model 3 P3D+ new, going to drive it until it dies most likely, love the car, race it all the time (dragstrip)
ucmndd
Well-Known Member
Did you factor in the $10k+ in state/fed tax credits you received when calculating your depreciation?
Seems not.
Seems not.
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