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P100D Value Loss 70k in 1 year.

I-Fleming

Member
Oct 21, 2019
9
9
Long Island, NY
I bought a P100D a year ago for a sticker of 144k, now the trade in is 70k ?? I have had a ton of cars over the years and this is by far the worst loss then any car I have ever owned. The main reason, I think, is Tesla lowered its price for the P100D to 109k. I feel this shows clearly that they care nothing for any of the customers who bought the Top of line model. No other car dealer would do this to the value of their top model car. Wow, I am still in shock, I understand a trade in value is usually 10k lower than a retail price. But even 60k in loss in 1 year, makes no sense, on any car. Somebody please shed some light on this situation...
 

Fleer

Member
May 19, 2019
149
160
Boise, ID
You bought it at the worst possible time honestly. With the massive price cuts anyone who paid the original price got screwed.

Also you should have gotten the full $7500 tax credit so take that off of your original price.
 

I-Fleming

Member
Oct 21, 2019
9
9
Long Island, NY
Your right. It seemed too they thought Porsche was going to be priced lower, and they got scared. Trying to keep sales going. Porsche would never do that to it's peeps.
 

gilscales

Banned
Jul 16, 2016
1,694
2,035
Long Beach, CA
I had always thought the P100D was WAY overpriced in the past and although I could never justify owning one, I do think they have brought the price to what is more in line with what the car should sell for based on other trims of the S, of course that does nothing for your situation though does it?, the only good thing is that if you decide to keep it another 2 years you would sustain minimal depreciation going forward.

Looking on Autotrader a 2018 P100D average price is closer to 90 to 100k

If I were to trade my 2018 RWD model 3 to Tesla I doubt they would give me much over 30k and my price before tax and lic. was $58,500, it has been 18 months and 34K miles though.
 
Last edited:

maximizese

Member
Jan 16, 2018
488
478
California
Never buy a brand new car of any brand if depreciation is a concern.

Sage advice with the unicorn exception of the 2009 Nissan GT-R where the MSRP went from $69K in 2008 to $99K in 2019. Used 2009 models are still in the $60K range with 40K miles on them.

As for the OP's situation, virtually everyone is aware that depreciation is high for luxury cars but this particular delta is abnormal. I for one do not care much for the monetary value of my things (with the exception of my investments) but for the utility value. Is the OP considering selling the car or just hypothetical examining the market?
 

I-Fleming

Member
Oct 21, 2019
9
9
Long Island, NY
My P100D has 15k miles on it, I have full autopilot etc. I can post the sticker if anyone cares. I got trade in values from Porsche and Tesla. I am aware the dealers just call up their wholesalers which is not a retail price. It's a very good point about buying a high end luxury it's first year is a bad move, I just love the excitement of having it first...LOL. But this isn't that far off from the P90D is it?

I've had a 2009 GTR and that held trade in value. My worst ever was a E63 AMG but even that wasn't as Bad, I was told the fastest models all drop like a stone.... I did get the 7500 tax credit so that helps. I was always told Bentley and Aston Martin were the worst cars in 1st year in depreciation. I think we found a new one to add... I'm still not happy with Tesla.

However, I do love the car. Leaning towards keeping it now like the above suggestion. Maybe the trade in will not go below 60k in 2 years. I don't know. I deff don't want the Taycan it's first year, too many unknowns.... Will it even get 260 miles of range? Will it go from 180k to much less in price?

Are electric cars, like cell phones now in values. The tech become obsolete faster?
 
  • Informative
Reactions: NerdUno

bhzmark

Active Member
Jul 21, 2013
3,643
6,158
Tesla depreciation is the worst in the industry. I’m not sure how people come up with metrics stating otherwise.

Where metrics do you use to back up statement?

upload_2019-10-21_16-55-48.png

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

upload_2019-10-21_16-58-10.png


Tesla Depreciation Case Study a Positive Read on Demand | Loup Ventures


value-retention-study-autolist.png


Tesla Model S retains its value better than gas-powered cars in its segment, losing only 28% after 50k miles - Electrek
 

I-Fleming

Member
Oct 21, 2019
9
9
Long Island, NY
Appreciate the report! Very Interesting. Thanks.

However Don't think this is taking P100D, its top model, into consideration. Mine has already lost 52% even with the $7500 tax credit, if you go by trade in value vs retail. Tesla mostly sell the lower models. Same thing on the Mercedes. The lower models held their value and the high end AMG don't hold value at all.

No car should cost anyone 70k for 1 year or $5800 per month. Should it? Guess I should of leased....Lol. I could of leased a Lambo for $4,000 per month and saved money! oops.
 
  • Like
Reactions: Ludalicious

Xenoilphobe

Active Member
Jan 2, 2014
4,599
4,518
Fairfax County, Virginia
If it's any consolation, I'll give you $72K for it?
Also you probably want to sell it fast due to the Model S Max Plaid Nurburgring coming...

The P100D pre-Raven, pre-3.0 AP, pre-2.0 MCU, pre-adaptive suspension, is in now the iPhone 8, and soon to be the iPhone 7. Does it have Ludicrous?, if not drop my price to $65K..

hardware_timeline_720.jpg


Hardware Level Release Date Model S/X Release Date Model 3
MCU1 & HW0 22-Jun-2012 n/a
HW1 17-Sep-2014 n/a
HW2.0 1-Oct-2016 n/a
MCU2 1-March-2018 28-Jul-2017*
HW2.5 1-Aug-2017 28-Jul-2017*
HW3 22-Mar-2019 12-Apr-2019
HW4 Q3-2021 (Estimate) Q3-2021 (Estimate)

 
Last edited:

NickFie

Member
Sep 28, 2017
559
648
Near Philadelphia, PA
Are electric cars, like cell phones now in values. The tech become obsolete faster?
This.

You have to go back 100 years or more to find the last time the auto industry was this dynamic.

Unusual for automotive market - significant technology improvements roll out at faster-than-annual pace.

Also unusual for automotive market - major advance along the learning curve every year for lower cost/prices. The technology is new and volume relatively low but climbing.

Several ways to cope.

A. Lease - let someone else worry about depreciation. This seems best fit for you with stated preference to be at leading edge of the rapidly advancing wave.

B. Buy and hold. Our 2017 S100D MCU1, AP2.0 is not as capable as yours, but still fabulous. I bought FSD so AP will be upgraded, bringing me closer to the leading edge. Might engage Electric Garage for MCU upgrade.

Plan to sell the S to our daughter’s family in a few years when the gap between the car’s dropping market value and their rising disposable income narrows.

C. Chalk up depreciation hit as “Entertainment.”

My career has advanced because I can spot and act on disruption and opportunity flowing from new technology. EVs, Tesla and Rivian in particular, make this an exciting time to own and drive a car.
 

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