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Should I wait?

I currently have a 2017 Model S (75) which has a battery life of about 205 miles... I'm thinking of trading my S in for a 3 to get more battery... but wondering if now is the right time to get a 3... Has anyone heard if there are any big changes to the 3 coming out within the next year?

I can wait a year if there are planned changes but I haven't heard of anything....
I've been in the same boat. I'm currently trying to decide whether to go with the current SR+ config or wait for new trim options (hopefully they'll bring back the full premium or make that the standard...expected to come with a price increase of course) or changes to the current partial premium to include some things I really want (full audio and fog lights mainly). I'd like a little more range as well, but then we're talking about a LR RWD again, which is outside the bounds of the WA tax incentive.

I do agree that you could wait forever for any of the above. Another thing that seems more possible is another sale on used inventory.
If range is a concern, I don't believe you are going to see any hardware related improvements that will increase it. As with any car, including the 3, there may be running changes and improvements from time to time.

Yeah, range is my motivation here... but again, I don't want to buy a model 3 with 300 mile battery if they release a model 3 with 400 mile battery next year..
They have a continuous roadmap for battery tech but no one knows when big changes are released. They seem to update little things here and there quietly at any time or pedestrian speakers and revisions to suspension. If resale value is important, you could wait for Jan for 2020 models
Yeah, as everyone else said, you can wait forever if you want to get the next best thing. I’m not aware of any huge, compelling change that’s coming soon, but Elon doesn’t really confide in me.

The only reason I can think of for you to wait is if you’d rather have a Y than a 3.

A reason for striking this quarter is to secure the $1875 tax credit before it expires.
Considering the model S has not had a refresh since its inception other than a face lift, I don't anticipate the 3 to be any better as far as release. The battery is so advance as it is, and they're in the middle of trying to be profitable that I do not anticipate any significant changes in the works in the near or relative future. And as it has been pointed out before, the tax credit expiring at the end of the year is an incentive as well.
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On a side note, one of the benefits of Tesla ownership is that you often get improvements in your car via OTA updates. Can add new featured from time to time.

On my 2017 X-75 I have received variable automatic windshield wipers, auto dimming headlights, improvement of 0-60 time from 6.0 to 4.9, faster opening/closing falcon wing doors, Extended Autopilot, and other updates since buying.

That battery thing is always going to get better, but current battery range of 310 is certainly sufficient for most owners. Very few will require more than that.

Current offering is very compelling, priced well and with good configurations available.

Elon said that sometime they will cease producing vehicles for private use all together. All production will go to an Uber Uber type of subscription agreement. Believe that will be the ultimate goal.

Imaging that even the specifications are already locked down for the upcoming Model Y. Perhaps after that Tesla can begin focusing on longer battery range.

Really few benefits to 400 mile range over currently available 310.