Refusing the Model X at delivery and picking up a CPO Model S, instead

[voltaren]

I'm contemplating asking my advisor if I can buy a CPO Model S instead of the Model X I have on order. I put $5k on the Model X, and, ideally, would like to transfer the deposit to the S. Anyone heard of that happening WITHOUT loss of the deposit. Model X has already finished production.

Ironically, the Model X that I ordered now retails for $8k more than what I originally ordered. I doubt if that makes any difference.

 

[bonaire]

Why not just ask Tesla?

 

[Cloxxki]

What makes you change your mind after having spec'd the car AND getting a sort of discount?

 

[JHWJR]

My guess is the OP wants to get something faster or wants free supercharging that his X doesn't come with. But I'm interested, too, in what motivates the switch.

 

[TexLaw]

To answer your question, I have heard of someone transferring a deposit after order confirmation to a CPO. However, it seems to be very very rare (or done only in the past), and I've never heard of anyone getting to do that when the new car actually has been built.

You're going to have to ask Tesla, though, if you want to go through with it. I can't see them be too tickled about the situation.

 

[voltaren]

Thanks to Texlaw for answering my question. For the reasons: my order has been delayed for over a year. As delivery came closer, I started looking into Model S' more. It's not speed; rather, it's reliability, sportier design, and value compelling me to get the S. Model Xs still have questionable reliability which just perplexes me since they've been "improving" for over a year now. Additionally, Model Xs are tanking in value compared to the S. For the same price of my sort of base X, I can get a CPO S P85D or P90D. As for supercharging, the X I ordered is grandfathered.

I'll probably stick with the X, but I'm still contemplating my options. It's not even going to be my car... it'll be the wife's.

 

[AudubonB]

Your order has been delayed for a year? Delayed as in Tesla kept not producing it, or you delayed in hitting the "Go" button?

 

[Tam]

...Model X has already finished production...

If you ordered and not taking the delivery, yours become an orphaned car even when you buy another one.

If you are Tesla, does it make sense to encourage a production of orphaned cars?

There's a confusing thread that seems to suggest that the owner would lose $5,000 deposit fund + $7,000 sign-it-over fund or a total of $12,000:

Selling X back to Tesla - instead of taking delivery

On the other hand, others interpreted the thread as: If you refuse the delivery, you would get your $5,000 deposit back and a reward of $7,000 for signing it over to Tesla: That's a profit of $7,000 for delivery refusal.

 

[voltaren]

Your order has been delayed for a year? Delayed as in Tesla kept not producing it, or you delayed in hitting the "Go" button?

Ordered Jan 16. Finally given an early Dec 16 delivery date; asked to get a 2017 which pushed it until early March 17.

 

[Cloxxki]

The P thing is cool an all, but liekly the aspect to the car that makes it affordable now through depreciation. 85's have not been built in a while.
D might be worth it to me for the range and control, but the P...just because it's super expensive new doesn't make it a better car from long term value point, as far as I know. If you sell in a few years, a regular D may well outperform the P85D. Why would someone pay the premium for your car? The non-P cars I bet will depreciate less.
That your X got more expensive since order may well overcome the depreciation thing. And being a 2017 car may well help also, if these get better reputation. The 2016's will be unwanted, 2017's in demand.
Will you get free supercharging, if it got a year to be built?

 

[bonaire]

Thanks to Texlaw for answering my question. For the reasons: my order has been delayed for over a year. As delivery came closer, I started looking into Model S' more. It's not speed; rather, it's reliability, sportier design, and value compelling me to get the S. Model Xs still have questionable reliability which just perplexes me since they've been "improving" for over a year now. Additionally, Model Xs are tanking in value compared to the S. For the same price of my sort of base X, I can get a CPO S P85D or P90D. As for supercharging, the X I ordered is grandfathered.

I'll probably stick with the X, but I'm still contemplating my options. It's not even going to be my car... it'll be the wife's.

What is your wife's driving style and range needs? Could be she needs only an MS 60 RWD versus anything like a P90D. Maybe she wants real fast acceleration but does she drive like that often?

 

[voltaren]

The X I ordered has free supercharging. My wife drives a Prius; she doesn't need speed.

I contemplated the S60 - even new - because its depreciation is excellent and it's all around a great car. I like the 14/15 P85D because it has AP1, it's fast, and it's $10k more than a CPO 70D. I think the 2 year old P cars have done all the depreciating that they're going to do when compared to the "base" models.

My depreciation concern (not a complaint, just thinking out loud):
I think AP2 and 2017 will help the depreciation if I take delivery and ditch it at the end of the year. My original intent was to buy a very early X 75D and keep it for a year or two. The first 2016 X 75Ds still sell for around MSRP minus the $7500 fed tax credit. I was originally given a March 2016 delivery date which - in typical Tesla style - was pushed back because of the options I chose. That changed the equation a bit. Now, I see the 16 X P90Ds (originally $140-150k) sell for $110k. It just concerns me a bit because of the depreciation rate and potential bleed over to the X 75D.

 

[croman]

I love Dragon Warrior! Sorry, couldn't resist. Great avatar.

I tried for a X60D but they discontinued it as I was finalizing my order. My sales advisor never warned me and I was quite bummed. This was before HW2 was announced. I got an S60D instead and I love it. I had a LEAF and this has enough range (with SC) to get us to my in-laws. Range, otherwise, is no issue on a daily basis. I think lower option cars have less depreciation (relative). You get so much for less unless you really want more acceleration or longer one time charge range, its the best bang for your buck.

 

[jeepn30]

If you're worried about depreciation, buying a new Tesla is the wrong answer. Anything that costs that much will depreciate substantially in the first 2 or 3 years. I bought CPO because I felt much better spending mid 50's on a car that was 3 years old (almost 100k list) with basically a warranty the same as a new one (difference being 3 years less on drive unit and battery). The Mrs. is hinting at getting a different car, and hopefully I can find a decently priced cpo x in about 2 or 3 years.

 

[voltaren]

If you're worried about depreciation, buying a new Tesla is the wrong answer. Anything that costs that much will depreciate substantially in the first 2 or 3 years. I bought CPO because I felt much better spending mid 50's on a car that was 3 years old (almost 100k list) with basically a warranty the same as a new one (difference being 3 years less on drive unit and battery). The Mrs. is hinting at getting a different car, and hopefully I can find a decently priced cpo x in about 2 or 3 years.

I agree that many CPOs have less depreciation, but not all new Teslas have high depreciation. Like I mentioned before, a used X 75D sells for right around MSRP minus federal tax credit. Also, a 15 S 70D goes for mid-high 60s. That car was $79k new with AP1 and leather. Subtract fed tax credit (makes it $71,500) and that car cost $2-3k/yr in depreciation - less than a Honda Accord.

I think croman is correct in identifying the lower option cars have much lower depreciation. Makes me feel bad for the folks leasing those cars paying $800-1000/month.