Should I sell my Model S?

[beck.christopher]

I am looking for advice regarding wether I should sell my Model S now or wait and trade it in towards a Model X when that becomes available.

My situation is this, I bought the Model S after following Tesla for a few years and it became financially possible when I started a new job that required a lot of commuting. My new job had me traveling about 120 miles a day however the job has now transitioned to mostly work from home and the long commute is gone.

I am thinking of selling the Model S as the long commute is gone, the car sits in the driveway and rarely is used, and the financial justification for the car is gone since the gas offset I was planning on is gone.

From a financial point of view it seems to make sense to sell the Model S, get a cheaper car, and wait for the car i really want in the Model X.

Ignoring the financials this is the most enjoyable car I have ever driven and I would miss driving it.

Any advice is appreciated.

 

[HHHH]

I would start by seeing how much the car would depreciate (estimated of course), to determine when the X comes out. This way you can see how much waiting til the X comes out costs you, and you can still drive the car. My guess would be less than $10k, and if I were you, I would drive the S then trade to the X if that's what you want. But it's your money.

 

[ACDriveMotor]

Not really my business but I don't understand how an X is a fit but the S is not since you said that commute distance was the primary justification. The S can fit 5 adults easily. Is the X a better family car?

 

[efusco]

Why does it sit undriven? What car do you drive instead? I'm quite confused, as well, how the X is "the car you really want", but the S goes unused.

 

[Lump]

When you do drive does this matter? Tesla Model S Achieves Best Safety Rating of Any Car Ever Tested | Press Releases | Tesla Motors

 

[beck.christopher]

The car sits undriven due to the fact I work from home and now I maybe drive the car 100 - 200 miles a week.

I prefer SUV and trucks over sedans so the X would fit my personal preference. I also think it would be easier to put kids into car seats in a X as it's kind of difficult for me to put the kids in and take of out of S.

 

[dsm363]

You will take a hit on selling the Model S of course. If you have an ICE sitting around that's one thing but if you have to buy a used ICE and sell your Model S that seems like a lot of work. I drive even less than you do right now and certainly wouldn't go sell unless I had to. Good luck with your decision.

 

[Lump]

The car sits undriven due to the fact I work from home and now I maybe drive the car 100 - 200 miles a week.

I prefer SUV and trucks over sedans so the X would fit my personal preference. I also think it would be easier to put kids into car seats in a X as it's kind of difficult for me to put the kids in and take of out of S.

If you haven't already reserved an X your kids are going to be old in enough to climb in & out of the car seats by the time you take delivery :wink:, kidding asside the X sounds like a better fit for you so maybe you should sell the S after all but don't wait too long on making that reservation.

 

[ACDriveMotor]

Right, isn't there something like 20+ weeks of model X production already pre-sold?

 

[Lump]

20k global reservations, web site says new reservations for fall 2015 delivery (maybe) $5000 refundable reservation deposit so act fast :biggrin:.
Model X Tally - Page 120

 

[ecarfan]

The car sits undriven due to the fact I work from home and now I maybe drive the car 100 - 200 miles a week.
I prefer SUV and trucks over sedans so the X would fit my personal preference. I also think it would be easier to put kids into car seats in a X as it's kind of difficult for me to put the kids in and take of out of S.

100-200 miles per week is "undriven"? Thats 5 to 10K miles a year. Doesn't fit my definition of "undriven".

The S is the finest car you can own. Driving it is a joy. You are fortunate to be able to own one. Selling it makes no sense to me.

You asked...

 

[woof]

If you are going to sell the S when the X comes out anyway, and you feel as I that there will be a bunch of S owners doing exactly that, then the logical conclusion is that a glut of used Models S will be hitting the market just as you wish to sell. Thus, if you want top dollar, sell now, before the anticipated glut.

 

[karmamule]

If financial savings was your overriding priority you could NEVER have justified buying the Tesla on that alone. A Prius gets excellent mileage and costs about 1/3 of a Tesla. We all know the driving experience differences between a Tesla and a Prius (or any fuel efficient econobox) is night and day, and you shelled out a lot of extra money for those qualities.

Driving less doesn't change any of those qualities. I can understand having your eye on the Model X if you really do like SUVs over sedans, but changing from a Tesla to something else in the interim doesn't make any sense, financial or otherwise. If you purchase another car you're just going to get hit by depreciation all over again. It doesn't make any sense to me either.

 

[ACDriveMotor]

I don't think there will be a glut. The S will still be production constrained. vs. demand in that timeframe. I suspect there will more likely be many S + X households. Seems like it will be good to be an electrician over the next few years.

 

[woof]

I suspect there will more likely be many S + X households. Seems like it will be good to be an electrician over the next few years.

I'm sure many will have both. Yet many stretched financially to acquire the S, and are not in a position to have two rather expensive cars. In addition, when the X comes due many will have had their S for about three years, and will prefer to get whatever shiny new goodies the X has to offer. I anticipate many will be trading up from the S to the X (I know we will be), and so I anticipate a glut of used Models S to hit the market as the X starts rolling out.

 

[Timothy]

I drive 3 miles to work each day and back. Very little driving. But my Roadster is such a gas (heh!) to drive, I take it out twice a week to drive for an hour -- just for fun! I have driven my son's Model S quite a bit, and if I were forced to trade, I would still take the drive because it is so much fun!

 

[ACDriveMotor]

@woof I am not sure that I follow. Your statement that "many stretched financially" and "many will be trading up to the S..." do not add up for me. If someone stretched to get an S, then trading it for an X after three years for a beating on depreciation as well as price depressions due to your predicted glut is probably not a sound financial decision. Anyone who stretched financially probably should hold the car longer or sell it earlier (if they believe there will be a glut).

 

[Al Sherman]

"Glut" of used Model S' seems a little extreme to me.

 

[Green]

From what I understand the Model S will remain the premium model so I am not sure if buying the Model X is to be considered "trade up". I am extremely happy with my Model S and would not consider to sell it but perhaps rather sell our second ICE and buy the Model X or save up and buy the Gen III when that become available even it might be a long wait...

 

[Chris TX]

I work from home and have a Model S. It's the safest car in the world to take my daughters to and from school. Road trips are a breeze down to the lake house and the parents' place. It sounds like you're over-thinking this. If you sell the Model S now, what ICE truck/SUV are you going to be happy driving until LATE next year or early 2016?

Oh, did I mention my employer pays mileage when I drive to Austin or Houston for business trips?