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Prices just Dropped
- Thread starter kchau
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I bought in dec 2018. Total was 57k. They are selling for 40k if lucky. Tesla offered me 35k. I have issues with paint ect. They haven't fix it. Reg, insurance and taxes. All on an inflated number. That I'm stuck with for life since I can't do anything with this vehicle with out loosing a ton. I was a day one res holder. Just sad how they treat people.
Knightshade
Well-Known Member
You seem to be confusing new and used car pricing? While related they're not exactly the same thing.
Yeah trading in to Tesla insures the lowest possible value vs private party sale (especially if the car has any software options)
I'm a day one res holder too. As I mention it'd cost me more if I'd waiting to buy today instead of buying June 2018 (delivery Sept 2018)
35k is offer 40k is new or slightly used. Since you can't buy mine new any more. Mr3. However there was one with 125 miles on it for 41k. Ev-cpo.com. Since all people lost out since 2018. Yours has had gone down. Not sure what "phone" means. Home link was 300 bucks.
i don’t get the complaints from 2018 buyers. The moment you took delivery your car value dropped by $7500 vs MSRP on top of the well known instant used car hit *AND* the EV technology curve depreciation.
Bonus extra depreciation for the Performance model as this has the reputation of being driven hard.
I bought a Perfomance 3 last month and knew the moment I signed the papers that I can kiss those $61k goodbye.
Some people really should lease.
Bonus extra depreciation for the Performance model as this has the reputation of being driven hard.
I bought a Perfomance 3 last month and knew the moment I signed the papers that I can kiss those $61k goodbye.
Some people really should lease.
phase out? what does that mean.
Now they're telling me they have "limited edition" ones that are LR AWD but with the performance upgrade, but you don't get the big wheels, painted calipers or spoiler hmm?
yes, it doesn't have track mode either... but i'm not sure I need it? Aside from the aesthetics why would I need track mode, all I do is drive like a maniac on city streets.
I am not used to a new car ever gaining in value, nor have I ever bought a car and then months or year later researched what they are selling for currently and compared.
I think while many avid fans on this forum are upset (and some like recent Performance buyers have a right to be) ; I don't think your average 3 owner gives a hoot or is even aware. They are happy with the car they got for what they paid.
If you somehow thought this car was going to gain in value because of the high demand it was in when you got it last year it is disappointing but looking back on that plan now when has being the first to buy new technology ever worked out?
I paid $10K to have an early model Plasma TV at home, it lost value far quicker than a Model 3 has, there was no Tax Credits/Rebates for buying 1 and now probably would have to give it away for free (720P resolution). I enjoyed having the coolest TV around for 12 months or so and so I guess that is the price you pay.
I think while many avid fans on this forum are upset (and some like recent Performance buyers have a right to be) ; I don't think your average 3 owner gives a hoot or is even aware. They are happy with the car they got for what they paid.
If you somehow thought this car was going to gain in value because of the high demand it was in when you got it last year it is disappointing but looking back on that plan now when has being the first to buy new technology ever worked out?
I paid $10K to have an early model Plasma TV at home, it lost value far quicker than a Model 3 has, there was no Tax Credits/Rebates for buying 1 and now probably would have to give it away for free (720P resolution). I enjoyed having the coolest TV around for 12 months or so and so I guess that is the price you pay.
Knightshade
Well-Known Member
This is simply not accurate.
If I bought today the car price is $8000 less for an identical config.
But the tax credit is $5625 less. The destination charge is $200 more. Then it's $300 to add homelink. And $50 to buy the phone charging cables and 14-50 adapter no longer included with a new car.
So the "today" real net price is only $1825 less apples to apples.
I've had my car for 10.5 months and I save about $200/mo not buying gas compared to the Lexus it replaced.
Which means I saved about $275 by buying in 2018 instead of waiting until today.... (arguably I saved more than that since my Lexus would've taken 10.5 months more depreciation by waiting but that's deep into the weeds)
Plus I got to drive a much better car for almost an extra year too.
Same here but I don't plan on losing all $61k. At some point the depreciation curve will level off. Why is leasing any better? Tesla is already factoring in a low residual value on the car and using the tax credit to lower payments. Either way you are going to pay a lot of money over the first 3-4 years of ownership as the EV market pricing becomes better established.
Tax credit you can't use as an offset reason. Some people borrowed the money and paid back with tax credit. But either way. It wasn't given to Tesla. It was given to the customer. Just doesn't sound like we are seeing eye to eye. How many miles have you put
On your?
On your?
Knightshade
Well-Known Member
Of course I can. It's real money in my pocket I got, only becuase I bought the car, thus reduction my total net out of pocket cost.
The tax credit? Right. That's why I'm counting it as offsetting the price I paid for the car and pointing out that between that and the other cost differences I actually saved money buying in 2018 instead of buying the same config today.
Roughly 12k I think?.. Not sure how that would change what it costs to buy today versus 10.5 months ago though.
Good point. It works both ways. M3P owners who feel they overpaid and AWD owners who would have ponied up to M3P.
The real question is did they really have to lower the prices to keep sales volumes at target levels. Tesla is running the company so that is for them to decide. IMO though, the M3P is not supposed to be a high volume seller though so I am not sure why they had to lower the price on the 3P the most. The 3P in the line up should be like the ZL1 in the Camaro, the GT350 in the Mustang, the Z06 in the Corvette, the M3 in the BMW, S5 in the Audi, etc. If they keep dropping the price on the premium trim then it cheapens all the Model 3s. For example, LR RWD owners that paid $56k are like yeah but you can get a M3P for the same money now... As M3 owners you want a premium trim line to keep the prestige, the news headlines, the track testing reviews, etc.
Instead of just lowering prices Tesla should be working on adding more options to increase profit per car.
- Interior color options, Tan and Red
- Magnetic suspension
- More wheel/tire options - different sizes
- More paint color options
- Power lift trunk/frunk
- Factory tint and paint protection
Having driven cars since 1989, my first lease was a Ford Focus EV, followed by a BMW i3. Because I didn’t want to be stuck with a 3 year old first gen EV yet still I wanted to ease into EVs for many reasons.
Based on my driving habits and the range of the Model 3, I was comfortable being “stuck” with a 3 year old (doubtlessly then) outdated EV in 2022 and beyond. I don’t expect a good trade in value but I hope that if Tesla is still around that it’ll be possible to repair and drive it for years. That’s why I didn’t lease this one.
If I were concerned about depreciation and trade-in value, I’d have leased the Model 3. It is a mass volume EV on the leading edge of the tech curve and therefore chances are it’ll drop in value substantially. Model S & X depreciation is IMO not a good indicator for Model 3 depreciation because they are true luxury niche products in low volumes.
I have no idea how depreciation will level off. But in 2022, I would not want to buy a three year old Performance 3 that has ancient tech from 2019 *AND* may have abused battery cells from high power launches, hence I don’t expect a good trade in value either.
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