Resale values plummeted

[CWalston108]

Sold my 2021 MYP white/white with 12k miles on Monday for 67k.

Got quotes from some local dealers, carmax, givemethevin, carbuyersusa, etc. etc.

The top offer came from driveway.com, which is owned by Lithia. They offered 67k and never looked at the car. They said it'd be 2 weeks before they could come get it, so I called up the local Ithia dealership. They said bring it in and we'll have the paperwork ready.

Pretty smooth process, picking up a new MYP next week. Glad to be upgrading to the new chip and decided to go for red this time. Costing me ~3k for new model year, some upgrades, 0 miles, and red paint.

 

[tgarg]

Sold my 2021 MYP white/white with 12k miles on Monday for 67k.

Got quotes from some local dealers, carmax, givemethevin, carbuyersusa, etc. etc.

The top offer came from driveway.com, which is owned by Lithia. They offered 67k and never looked at the car. They said it'd be 2 weeks before they could come get it, so I called up the local Ithia dealership. They said bring it in and we'll have the paperwork ready.

Pretty smooth process, picking up a new MYP next week. Glad to be upgrading to the new chip and decided to go for red this time. Costing me ~3k for new model year, some upgrades, 0 miles, and red paint.

Will you have to pay capital gain tax on that?

 

[kabin]

Sold my 2021 MYP white/white with 12k miles on Monday for 67k.

Got quotes from some local dealers, carmax, givemethevin, carbuyersusa, etc. etc.

The top offer came from driveway.com, which is owned by Lithia. They offered 67k and never looked at the car. They said it'd be 2 weeks before they could come get it, so I called up the local Ithia dealership. They said bring it in and we'll have the paperwork ready.

Pretty smooth process, picking up a new MYP next week. Glad to be upgrading to the new chip and decided to go for red this time. Costing me ~3k for new model year, some upgrades, 0 miles, and red paint.

I might want to take delivery of the new MYP before selling the previous as there's a chance of being denied for flipping.

 

[charlesoris]

Check with your tax preparer but I believe there shouldn't be any capital gain tax on a sale of a personal vehicle. Sales tax, maybe.

 

[T_Gravity]

I traded in my 2021 MY 7 seats White exterior and Blk interior with 7.5k miles for 62k and bought Polestar 2. I paid $51990 back in March when it was at the lowest price.

I am waiting on a new one, hopefully from Texas that I reserved for $56990 in October.

 

[Love2Run]

Reviving this a bit. Has anyone noticed Tesla Vroom inventory is rising fairly quickly and they've really slowed down on their offers to buy? They just offered us 46k on a 2022 Model 3 LR with 500 miles. I had to call them up after a few days and ask why they never offered a price. Clearly they don't need it but would be willing at 46k to buy it.

 

[Mateo83]

Reviving this a bit. Has anyone noticed Tesla Vroom inventory is rising fairly quickly and they've really slowed down on their offers to buy? They just offered us 46k on a 2022 Model 3 LR with 500 miles. I had to call them up after a few days and ask why they never offered a price. Clearly they don't need it but would be willing at 46k to buy it.

Everyone is trying to profit from the current situation. The supply eventually catches up to the demand, etc.

 

[Love2Run]

Seems like with rising prices, we may stop seeing people buying 2nd, and 3rd spare Teslas to sell and eventually it'll even back out?

 

[Mateo83]

Seems like with rising prices, we may stop seeing people buying 2nd, and 3rd spare Teslas to sell and eventually it'll even back out?

There will always be the people here balancing multiple reservations to turn a few bucks.

 

[Destiny1701]

New prices have basically caught up to the used market. There is a max price where buyers simply will not longer purchases.
I don’t expert used to keep increasing in concert.

 

[Stook02ss]

New prices have basically caught up to the used market. There is a max price where buyers simply will not longer purchases.
I don’t expert used to keep increasing in concert.

I also don't expect used to drop anymore. In fact I suspect they may go up by 1k or so.

The wait time for a MYLR is absurd now if you opt to forgoe FSD. MYP is much better... but you need to pay a delivery fee of over $1k... so that's effectively $69k. Plenty of people would pay a healthy bit to get one now.... as ridiculous as that is.

 

[New to EV's]

Well Tesla just rose prices (again) so I think that will help resell values, on the other hand, as prices go up, less people will be able to afford one.

 

[Mateo83]

It's weird I bought a 2016 Audi SQ5 42k miles in 2019 for $35,400. And now it would sell for almost the same price on a lot with 66k miles.

 

[Stook02ss]

Well Tesla just rose prices (again) so I think that will help resell values, on the other hand, as prices go up, less people will be able to afford one.

Inflation being what it is likely to be '
4-7%', $2500-5000 is almost baked in.... nm the massive shortage specific the auto (and EV in particular) industry.

 

[Tooleman694]

Plus the gas prices to even ship the Tesla to your location.

 

[csrpenfab]

Reviving this a bit. Has anyone noticed Tesla Vroom inventory is rising fairly quickly and they've really slowed down on their offers to buy? They just offered us 46k on a 2022 Model 3 LR with 500 miles. I had to call them up after a few days and ask why they never offered a price. Clearly they don't need it but would be willing at 46k to buy it.

Vroom, Carvana, CarMax, Shift, all have algorithms they use to make their pricing offers. As their inventory of a certain model/trim goes up, the prices go down. You've got to find the sweet spot where your offer peaks. I sold my 2019 Lexus GX460 to Carvana in November right when I saw the value peak. They basically paid me what I'd paid for it new two years prior. Now with the price of gas going crazy, I bet they have a higher inventory, and the price offers on those thirsty V8's are plummeting.

 

[Tooleman694]

I have been watching my trade in, after auction a dealer put it up for sale for 65k. I just checked and it was lowered to 63k and sitting.

 

[Daniel L]

Reviving this a bit. Has anyone noticed Tesla Vroom inventory is rising fairly quickly and they've really slowed down on their offers to buy? They just offered us 46k on a 2022 Model 3 LR with 500 miles. I had to call them up after a few days and ask why they never offered a price. Clearly they don't need it but would be willing at 46k to buy it.

Yes, took 3 days for them to get back to me. Offer went from 65500 (end of january) on a 2021 MYP to 56000 (early march) - was 5000 miles vs 7000 miles too

 

[Love2Run]

Yes, took 3 days for them to get back to me. Offer went from 65500 (end of january) on a 2021 MYP to 56000 (early march) - was 5000 miles vs 7000 miles too

 

[Love2Run]

Wow, that's a horrid offer. However, with their growing inventory, I bet they are getting slightly nervous and that offer makes sense, sort of. I bet all the rumors of Austin producing "better" cars doesn't help either. I received 62k back in late January for my 2021 MYLR.