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P85D sold for $87k

Discussion in 'Model S' started by lovingit, Jan 6, 2016.

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  1. benf

    benf Member

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    So let me see if I understand this correctly:


    1. Tesla unloads all of their inventory and loaner cars at the end of the year for cheap to try to boost their numbers.
    2. I have to take my brand new car in for service with countless problems that shouldn't exist because they ignore glaring quality control issues to hit those same numbers.
    3. As a result of #1, I'll get a prius or some other completely incomparable car instead of a Tesla as my loaner because the loaner I should have gotten was sold on eBay.

    Bravo Tesla!

    Anyway, congrats on the awesome deal. I would have snatched that up too :D.
     
  2. GregTexas

    GregTexas Member

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    The last 2 cars I sold, I sold through that company. They beat out Carmax both times. They told me the owner of the company drives a Tesla. I've seen a bunch of Ebay listings from them.
     
  3. lovingit

    lovingit Member

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    The Tesla rep there says that they are the biggest buyer from Tesla in the used market. They don't bid on any cars that have been in minor accidents. Seem like a reputable company.

    Chicago Motor Cars sells a bunch of used Teslas also but their pricing is higher.
     
  4. davidc18

    davidc18 Active Member

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    Congrats. You got the deal I've been looking for!
     
  5. andrewket

    andrewket Well-Known Member

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    I sold my 2013 P85+ to them in the fall of 2014. It was a painless transaction.
     
  6. WMAC

    WMAC Member

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    I'm pretty sure my Lexus GS350 trade in went to them.
     
  7. lovingit

    lovingit Member

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  8. Zybane

    Zybane Member

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    You can't use the $7500 tax credit used right? So that knocks off $7500 from the bottom line right off the bat.

    I still don't understand how Tesla can sell CPO cars used at almost new car prices AND are unable to get a $7500 tax credit. Who on Earth would buy a CPO car?
     
  9. luvnMyTS

    luvnMyTS Member

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    These cars, seriously? Both are priced at just under $90,000. I priced them out on Tesla's website and you can buy either of these for $95,000 BRAND NEW. For most, factor in $10,000 off for federal and state tax breaks and you're at $85,000. Why in the world would ANYONE pay more for a USED car than they can buy a brand new one for? THEY WOULDN'T. People can dream all they want and ask ridiculous prices for their cars. All the P85D's priced at $100,000 or more are just dreaming. Anyone in their right mind would want AT LEAST a 10% discount to buy a used car with fewer miles remaining on the warranty and less time with more worn out tires, plus a further discount based on the number of miles it has. $87,000 was actually a good price for the P85D that was the subject of this thread. An 85D at $75,000 is probably still a little on the high side for a USED one when you can buy a brand new one for $85,000 and get it EXACTLY the way you want it with no sacrifices in options because on a used car, you don't get a choice.

    Ebay truly is the best indicator of ACTUAL MARKET VALUE. People bid on the cars to the highest someone is willing to actually pay for it. That my friends, is "market value". The P85D that sold for $87,000 was bid to that amount. If it was worth more, why didn't people bid more? Because it wasn't worth more! Ebay is by far the most popular listing site for used Tesla's, commonly having 50-60 of them on there at any given time. Most owners are unrealistic and list them at prices that would net them more than what they paid for it since they likely got the tax credits. How these sellers think they can sell a used car for more than what someone can by a new one for, or for just a couple thousand less is beyond me.

    I know everyone loves their Tesla's, I love mine too and they all think its the greatest car in the world and is worth more than money could ever reflect, but I'm sorry to say folks, it's still a CAR and cars DEPRECIATE and they depreciate DRASTICALLY in the first year. Based on what cars ACTUALLY SELL FOR, not what people ask for them, it's safe to assume that your car's value after one year is likely around 10% below the after tax credit price less between 50 cents and $1.00 per mile for every mile it has on the car. Thus a $90,000 (net after fed/state credits) year old Tesla with $10,000 miles is likely going to sell for around $76,000. Tesla Trade in value will likely be $68,000. Kelly Blue Book will likely be $65,000.

    No owners are forced to sell their cars for anything less than their willing to accept for it. However, only those that wake up to reality actually get their cars sold. The rest, just re-list them and re-list them and re-list them until they eventually give up and realize that they're stuck with what they have for a couple more years until the loan balance declines to a level equal with the value. The good news is that, the Tesla seems to hold its value pretty well after the first year hit. 35-40% depreciation in the first year, then only about 4-5% per year following.

    The only problem right now is that the 85D's and P85D's have only been available for just over one year. Therefore, out of the 50-60 cars on E-bay, maybe one is an 85D and 3-4 are P85D's. Not too many people sell cars after just one year. Two years ago, there weren't many used Tesla's on the market of any kind. Naturally, in the next year or two, 85D's & 70D's, the two most popular, will be plentiful on E-bay. Naturally, those that want to save money, still want the best available and of course their first choice is a D model, but most will have to wait a little while longer or be happy with a used RWD car since there are plenty of those available. Most of those are over-priced too, but you see several come up weekly with "reasonable" prices from sellers actually ready to sell now.
     
  10. andrewket

    andrewket Well-Known Member

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    Don't forget the early P85Ds have the sport suspension from the + that is no longer available. Tesla changed that in April 2015 or so. That's worth something, especially to a performance enthusiast.
     
  11. ElectricTundra

    ElectricTundra P85D AP1

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    What is the risk in buying a P85D from this dealer vs directly from Tesla? Is it all just warm fuzzies or are there actual differences? I assume the buyer will get full warranty less approx 1 yr? Buyer will have same relationship with Tesla that those of us who purchased directly from Tesla do? Buyer will still get all software updates? Other risks?
     
  12. mn4az

    mn4az Member

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    #52 mn4az, Jan 9, 2016
    Last edited: Jan 9, 2016
    FWIW... I actually was in negotiations with the original owner of this MS (delivered Sept 2015 IIRC). Optioned it's $99750. Out the door the car is $97507 after sales tax and fed/state incentives (PA has $2K). I made an offer to the original owner and we were working on the details of a down payment (owner wanted me to wire 5% to hold the car and I wanted to use escrow.com). While we were trying to make things work the owner traded this car in to the dealership for $87K (over 5K more than what I was willing to pay) and now the dealership has it listed for $89.9K ($95294 after sales tax in PA).

    For $2K I would buy the car via Tesla just to get the full 4 year warranty and the big bow that comes with the car. :)
     
  13. andrewket

    andrewket Well-Known Member

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    Price bring the same, for a car in good condition I'd rather buy it from a private seller and still be eligible for the extended warranty.
     
  14. MsElectric

    MsElectric Active Member

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  15. tom66

    tom66 Member

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    Dealer offers 3 month/3000 mile warranty. Tesla warranties CPOs to 4yr/50000miles on top of current mileage.
    Both types still have battery warranty & IIRC balance of original warranty if any remains
     
  16. EVSteve

    EVSteve 110% Solar Powered

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  17. Xenoilphobe

    Xenoilphobe Active Member

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    The DuPont registry is an acronym for deep dive in your pocket for more cash than its worth... I'm with EVSteve - I don't even bother to look at Dupont anymore.
     
  18. lovingit

    lovingit Member

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