Owner Frustrated with Tesla Depreciation

[acoste]

Nope 2016.5 P90DL Msrp $144,950
No Facelift model s ever had V1 battery. Only V2 or V3 and they get 270 miles instead of 253 for the V1. So $144,950-$7,500=$137,450

137k > > 70k in 2.6 years is 22.8% annual depreciation.

 

[MelvinLee]

137k > > 70k in 2.6 years is 22.8% annual depreciation.

Manufactured 10/16 so about 2 years

 

[CarlK]

Yours is a fully loaded one while ones on the CPO list may not be. The base price for non-L P90D is only ~$110K. Are you sure you're comparing cars with the same options?

Premium cars indeed have higher depreciation than economy cars. One reason is people who want to save money and buy a used car tend not want to buy a gas guzzler. Tesla wins in this aspect. Another thing is maintenance cost for some used luxury cars can be very high and will be factored in the price. Depreciation of Model S has always been considered to be better than cars like S Class or 7 Series. This is supported by the latest Autolist study too.

Study: Tesla Model X and Model S continue to hold values better than rivals

 

[Johann Koeber]

IF the depreciation is really bad, why buy new?

Get a CPO and save a ton of money.

IF it depreciates 50 % in first 2 years, it won't depreciate as much in the next 2 years.
You know what: it can't depreciate more than 50 % in the next 10 years. That's a bargain.

IF a lot of people were to buy CPO then demand would be much greater than supply and bid the price up.

Big IFs, therefore capital letters.

 

[CarlK]

IF the depreciation is really bad, why buy new?

Get a CPO and save a ton of money.

IF it depreciates 50 % in first 2 years, it won't depreciate as much in the next 2 years.
You know what: it can't depreciate more than 50 % in the next 10 years. That's a bargain.

IF a lot of people were to buy CPO then demand would be much greater than supply and bid the price up.

Big IFs, therefore capital letters.

Good point. Looking from a different angle we all own a CPO now which will turn out to be a great deal.

 

[NewTMSMan]

From Car Gurus....some EV Depreciation Comparisons:
View attachment 363001

There is something odd about the last 90 days and the Model S from every year except the 2017. All have tanked in value in 3 months by roughly 10% for some reason.

 

[whitex]

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!!!

You say worst car you ever bought. What other $134K MRSP car (after rebates) have you bought in the past which didn't lose 40-50% after 2 years?

 

[Destiny1701]

And yet people buy the performance models anyway... for the performance. Surprise, surprise.

For the same reason some people buy a Dodge Charger instead of a Toyota Camry.

Uh...have you driven then latest v6 Camry XSE?
No slouch lol.

 

[75Shappyt]

anytime you buy high tech, the day it hits the street, all you bought was yesterdays tech, they drop like rocks, I knew buying ByTesla, and I do love it. it was new also, I was just buying yesterdays High Tech, there will always be something new around the corner.

 

[Kruegmeister]

Your iPhone 8 is worth nothing too.
Tesla is not "Fixing" there CPO market.
When I was shopping for my Model S early 2018, I didn't want anything 2.0 & 1.0 was definitely out of the Question.
The BMW i8 Range of 18 miles... WTF

 

[Snowstorm]

A good that rapidly advance loose its value faster because the directly comparable new product is getting better faster. In case of Tesla and EVs, getting cheaper too. It is just like computers in the 1990-2000’s.

I didn’t buy the model s as an investment. I bought it because it adds joy and convinence to my life with minimal harm to the world.

Best car ever, and my next car maybe 10 years later may or may not be another Tesla (good chance though), but definitely an EV.

 

[bmah]

Moderator note: Moved a couple posts to snippiness. Please keep comments respectful, non-antagonistic, and free of foul language.

Thank you,

Bruce.

 

[Benjanos]

Clickbait, new poster that has 14 posts. Probably doesn’t even own a Tesla just a hater. Anyone buying a Performance model should know it’s going to depreciate way faster than base models.

Yep!!!! Anyway, if depreciation is a concern, just buy second hand and use that same concern to your advantage. Or buy some other 'magic car' that does not depreciate.

If Model S is having a hard time with second hand prices, I suspect it is because of Model 3.

 

[Ande]

A new car have always a steepest value drop in the first 1day to 8 months.

Maybe buy used next time ?

In any case; the worst mistake you made is to think of a car as an investment, it NEVER is.

You are paying for a good time, that's all., And P90DL is plenty of fun for the money, I've never got more , lasting, fun for my money than this.

 

[seattlite2004]

There is something odd about the last 90 days and the Model S from every year except the 2017. All have tanked in value in 3 months by roughly 10% for some reason.

Maybe Mod S owners are dumping their ride for the newer AWD/Perf Mod 3....thus more used Mod S supply.

 

[seattlite2004]

And yet people buy the performance models anyway... for the performance. Surprise, surprise.

For the same reason some people buy a Dodge Charger instead of a Toyota Camry.

Seems that Dodge Charger doesn't depreciate as much....interesting...guess its supply and demand and all that...

 

[Xenoilphobe]

Where's the SEC now? Shortie alert, ten posts.... hummm...

Lets talk depreciation, all Performance models drop faster than the more modest twins.
6 of the top 10 are European: BMW(3), MBUSA(2) and Jaguar(1).

10 Cars With Fastest Depreciation - Cars With Lowest Resale Value

https://jalopnik.com/5982789/the-most-depreciated-cars-of-the-past-ten-years
9 of 10 are European.

And the winner is...
1.) 2003 Mercedes-Benz CL55 AMG — Down $99,000
AMG Mercedes-Benzes are the undoubted kings of depreciation, with ruinously expensive (and frequent) trips to the mechanic, and a disposable quality that makes last year's model worthless to any self-respecting plutocrat.

We found one of these pretty S-Class coupes that had lost 86% of its value, dropping from $114,600 to $15,500. Damn.

2.) 2005 Mercedes-Benz SL65 AMG — Down $140,000
The twin-turbo V12 SL65 AMG started at $185,000 back in 2005. Now you can get one for $45,000. Now that's depreciation.

My favorite is the Maybach, which dropped $200K !!!!!

 

[ucmndd]

View attachment 363019

Nope 2016.5 P90DL Msrp $144,950
No Facelift model s ever had V1 battery. Only V2 or V3 and they get 270 miles instead of 253 for the V1. So $144,950-$7,500=$137,450
Too bad you missed this thread

Thank you for correcting my grievous error, even if you did so incorrectly.

144950 - 7500 fed - 2500 state = 134950

So 43% depreciation vs. the 40% in my original post.

 

[Struja]

Where's the SEC now? Shortie alert, ten posts.... hummm...
!

You beat me to the punch. Also, all 10 post are in this thread. “Active” member in the community. I smell gasoline.

 

[Tic-tac-toe]

Seems that Dodge Charger doesn't depreciate as much....interesting...guess its supply and demand and all that...

View attachment 363076

The performance model Dodge Charger is the Hellcat which starts at 85k: V8 engine and has a top speed of 220 mph, the fastest for any production car.

While the SP100D has the fastest acceleration from 0 to 60, the Charger Hellcat has the highest top speed for production cars/not super cars. Although the P100D has beaten most supercars in the 1/4 mile.

No one buys these types of cars asking how much they’ll depreciate in the first/second year...except MelvinLee.