(jan 2023) - Price cuts are a sunk cost, suggest its best to have zero regrets

[MacO512]

I'd have probably saved $3k or 10k after tax credit if I bought model Y now instead of August. If I'd ordered at peak prices I'd have lost 12k or 20k after tax credit.

But I bought in a different environment. My tradeins were worth way more. There was no new cars available. I made a buying decision at the time which made sense then and I can afford for the years ahead. I love the car. Any loss is a sunk cost I will ignore, and have zero regrets of.

My stocks went down much more than 20k in 2022. Yes if I knew when the peak was I could've sold when it was high and bought when it's low. I have a finance degree and CPA but can't predict any of that stuff (and would argue really nobody can) so I just have to make the best financial choice at the time and live with the market going up or down later.

Same applies to the car market.

 

[fiehlsport]

Great point of view. Anyone who paid $13k more last Spring/Summer, probably got $13k more in trade value (or more) if they went that route.

Our 2019 Ioniq's Carvana price went from $25k at the peak last year, to $14k today. (Only 2000 more miles added)

 

[240vPlug]

I'd have probably saved $3k or 10k after tax credit if I bought model Y now instead of August. If I'd ordered at peak prices I'd have lost 12k or 20k after tax credit.

But I bought in a different environment. My tradeins were worth way more. There was no new cars available. I made a buying decision at the time which made sense then and I can afford for the years ahead. I love the car. Any loss is a sunk cost I will ignore, and have zero regrets of.

My stocks went down much more than 20k in 2022. Yes if I knew when the peak was I could've sold when it was high and bought when it's low. I have a finance degree and CPA but can't predict any of that stuff (and would argue really nobody can) so I just have to make the best financial choice at the time and live with the market going up or down later.

Same applies to the car market.

Great perspective. Cars are a losing proposition unless it's a classic or museum piece. How much of a loss varies but it's not a loss until you sell. Drive it for five years at least or more and you will get more use while minimizing the loss in most cases.

 

[SNathan]

Well, we can't compare this to the general market condition or the stock market. These price cuts are purely driven by Elon's selfishness; he deliberately aims to undermine other electric car manufacturers to establish a monopoly. This is not beneficial for consumers in general. This also makes him less trustworthy to those who bought his vehicle in 2022.

 

[gt2690b]

I'd have probably saved $3k or 10k after tax credit if I bought model Y now instead of August. If I'd ordered at peak prices I'd have lost 12k or 20k after tax credit.

But I bought in a different environment. My tradeins were worth way more. There was no new cars available. I made a buying decision at the time which made sense then and I can afford for the years ahead. I love the car. Any loss is a sunk cost I will ignore, and have zero regrets of.

My stocks went down much more than 20k in 2022. Yes if I knew when the peak was I could've sold when it was high and bought when it's low. I have a finance degree and CPA but can't predict any of that stuff (and would argue really nobody can) so I just have to make the best financial choice at the time and live with the market going up or down later.

Same applies to the car market.