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Significant increase in trade in value of my current ICE from Tesla

raptor5244

Active Member
May 10, 2019
1,436
1,091
Florida
I don't think it would make good business sense for Tesla to buy a used Tesla that cost almost the same as what they list as new. That's how crazy Carmax, Carvana, Vroom prices are.

I just traded in my Model Y to a Ford dealer for a Mach-E and they immediately will send that to auction via broker. Telsa does the same.
I am not suggesting they overpay but they shouldn't be a $5k-10k difference between them. They seem to use KBB for ICE based trades but not for Tesla trades.
 
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T3SLAROD

Active Member
May 14, 2019
1,032
1,022
SoCal
I am not suggesting they overpay but they shouldn't be a $5k-10k difference between them. They seem to use KBB for ICE based trades but not for Tesla trades.

No, it’s the same for ICE, no difference. But I don’t think they use KBB. I think they reach out to whole sale and ask how much they would pay for a certain trade in and go from there
 

raptor5244

Active Member
May 10, 2019
1,436
1,091
Florida
Always wanted a Mach-E and who knows about 2022 and the tax credit (could be just one per year and Mach-E might not be eligible since it is a sedan).

And the Model Y appreciated so I got a few K over what I paid for it.

With Tesla.. you can find good rates beforehand as there is always enough time from VIN to delivery. I wasn't fully prepared for the Mach-E sale so I took their rates (yuck) - I plan to early payoff the loan though. That's the big negative when you deal with dealers of high demand cars. You can't just pause the deal and come back a few days later with better financing.
How would you describe the driving characteristics between the Model Y and Mach E?
 

raptor5244

Active Member
May 10, 2019
1,436
1,091
Florida
No, it’s the same for ICE, no difference. But I don’t think they use KBB. I think they reach out to whole sale and ask how much they would pay for a certain trade in and go from there
Got it. I wonder what how the market resale will be once they cars are out of warranty. When I sold mine to Carmax a couple months ago they said they can only buy Teslas if they are still under warranty.

I realize the powertrain and battery are under the 8 year 100/120 mile warranty so there is some peace of mind there. Is a battery still $12-15k with labor if you had to pay out of pocket?
 

tm1v2

Member
Oct 18, 2021
632
430
USA
Yeah Im not understanding the Mach-E classification. Ford says its an SUV, the EPA says wagon. I placed an order for GTPE, I am hoping the $7500 will still be good as it's good right now.
The interior space is like a slightly tall wagon, however you're sitting up high like in a crossover because of the battery under the floor.

GTPE is the (only) good one, you chose wisely. :) The thermal issues are a real shame, but if you're okay with the powertrain limitations (a big "if" in my opinion), then the GTPE is a nice ride.

The rest of the Mach-E lineup I would never recommend to a driving enthusiast.
 

T3SLAROD

Active Member
May 14, 2019
1,032
1,022
SoCal
The interior space is like a slightly tall wagon, however you're sitting up high like in a crossover because of the battery under the floor.

GTPE is the (only) good one, you chose wisely. :) The thermal issues are a real shame, but if you're okay with the powertrain limitations (a big "if" in my opinion), then the GTPE is a nice ride.

The rest of the Mach-E lineup I would never recommend to a driving enthusiast.

No, Im actually not ok with the 5 second power cutoff. Didn’t know about it until after I had placed my order lol…… I will probably end up canceling or just rejecting the car once it hits the dealer.
 
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How would you describe the driving characteristics between the Model Y and Mach E?

Totally different.

The Mach-E is a Model 3 with SUV butt (less cargo space but wider opening than the Y). It feels and drives like a sedan. The acceleration and braking are not linear and smooth like the Y. I knew this after my test drives. I like this quirk. Others will absolutely hate the jerkiness. It’s not an EV for stop and go traffic.

Mach-E is slightly smaller with a tighter turn radius. I’m about to return to a downtown office with a narrow garage. I tried my Y in it and was a little freaked out. The Y doesn’t have the best turning radius…. the only thing I really miss from the ID.4 I had before.

The only major positive of the Mach-E is the safety features like 360 camera (it’s amazing) and blind spot warnings. The Y needs these. I was backing out of a busy Whole Foods today and was warned correctly about oncoming cross traffic and pedestrians. I relied on the Y’s rear camera when I owned it but it wasn’t ideal.

Overall the Y is a higher performing smoother ride. I didn’t care since I came from an even smoother ID.4 (with far less power though). I really wanted a Model 3 but needed extra cargo space so the Mach-E is a good compromise so far.
 
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tm1v2

Member
Oct 18, 2021
632
430
USA
No, Im actually not ok with the 5 second power cutoff. Didn’t know about it until after I had placed my order lol…… I will probably end up canceling or just rejecting the car once it hits the dealer.
I was a pretty big fan of the GTPE too until I learned the full extent of the thermal issues. (GTPE was still only my 3rd choice EV even not knowing the thermal problems, behind Model 3 Performance and Polestar 2 Performance, but I really did like the GTPE...until I learned how severe the thermal throttling is.)
 
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raptor5244

Active Member
May 10, 2019
1,436
1,091
Florida
Totally different.

The Mach-E is a Model 3 with SUV butt (less cargo space but wider opening than the Y). It feels and drives like a sedan. The acceleration and braking are not linear and smooth like the Y. I knew this after my test drives. I like this quirk. Others will absolutely hate the jerkiness. It’s not an EV for stop and go traffic.

Mach-E is slightly smaller with a tighter turn radius. I’m about to return to a downtown office with a narrow garage. I tried my Y in it and was a little freaked out. The Y doesn’t have the best turning radius…. the only thing I really miss from the ID.4 I had before.

The only major positive of the Mach-E is the safety features like 360 camera (it’s amazing) and blind spot warnings. The Y needs these. I was backing out of a busy Whole Foods today and was warned correctly about oncoming cross traffic and pedestrians. I relied on the Y’s rear camera when I owned it but it wasn’t ideal.

Overall the Y is a higher performing smoother ride. I didn’t care since I came from an even smoother ID.4 (with far less power though). I really wanted a Model 3 but needed extra cargo space so the Mach-E is a good compromise so far.
Thanks for the feedback. I still think they should have left the Mustang name to die with the ICE based models. 🤔
 
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ArchEtech

Member
Nov 22, 2021
133
76
Iowa
I sold my GTR R35 for $5000 more than I paid for it. Only owned it 6 months.

I got an offer if $57,000 from Vroom for my car which is what I paid for it a month ago. I did this just to test the market. I’ve only had it 1 month. 2020 M3P. It’s comforting to know that in a couple years I’ll most likely lose nothing. I don’t see the market for cars crashing and even when it does Tesla will still be at the top of resale.
 

raptor5244

Active Member
May 10, 2019
1,436
1,091
Florida
I sold my GTR R35 for $5000 more than I paid for it. Only owned it 6 months.

I got an offer if $57,000 from Vroom for my car which is what I paid for it a month ago. I did this just to test the market. I’ve only had it 1 month. 2020 M3P. It’s comforting to know that in a couple years I’ll most likely lose nothing. I don’t see the market for cars crashing and even when it does Tesla will still be at the top of resale.
FWIW, 9 months ago the best offer I could get for my 2019 M3P, Black, white interior, 7200 miles, No FSD was $42,500. The car was $60,995 in 2019 minus the $3,750 tax credit, or $57,245. I waited a bit and sold it about 3 months ago to Carmax for $48k, could probably get around $50k for it today with the crazy used market continued supply shortage. So, I will agree with you that the resale is fairly strong on the Model 3 but not so much on the M3P trim. In a normal market the M3P just doesn't have enough differentiation where the used market will pay the extra price for it. You would have to find the right buyer. That said, the Tesla website states you can take delivery of a M3P now in December, which further indicates the lower take rate.

Also, figure that the M3 LR AWD has an acceleration boost option for $2k that gets you close enough to M3P 0-60mph, same performance after 60mph, better range plus the smaller 18/19" wheels most folks prefer. Now, Tesla has been increasing prices lately but consider if/when the tax credit kicks in again making the total cost of the M3 LR AWD and SR+ even lower, which could impact resale prices as well. Lastly, more EV competition is on the horizon
 
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ArchEtech

Member
Nov 22, 2021
133
76
Iowa
If you buy new yes. I bought a used MP3 to begin with so I’m not going to lose anything as compared to a long range. The “lesser” models have just held that much better because they were cheaper to begin with.

It will be interesting to see what the price is new by the time a tax credit kicks back in, if it does. The Y has gone up crazy amounts. The performance is becoming a bargain trim if you like the features as they raise the price on all the other models.

No the LR is not as fast as the MP3 after 60. Sorry it’s not. It also doesn’t have track mode. The LR is not much slower though. Most people probably don’t care about those differences which is why the LR sells better.

I watched prices for the last year. The MP3 performance always sells for a few thousand more than the LR but that gap closes a bit as the miles go up and the years get older.

I’m not sure what the point of your post was. The resale is good on all Teslas and all Model 3 trim. Have some appreciated more relative to their original purchase price? YES. My M3P will still be worth as much as any LR in 3 years with similar options and miles. Since I didn’t pay new price it will be even better. Had I paid new price at $58,000 it would still have very low depreciation.

The car market is crazy and teslas used cost crazy amounts. I think they average 5-8% depreciation after 3 years which is crazy.
 
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Now, Tesla has been increasing prices lately but consider if/when the tax credit kicks in again making the total cost of the M3 LR AWD and SR+ even lower, which could impact resale prices as well. Lastly, more EV competition is on the horizon
Yup. Tax-credit is the blame for why non-Tesla EVs depreciate 50% in 3 years (well... nobody wants used Leafs, Bolts, Fiats either.. lol). VW and Ford also estimated this and wrote their leases with such low residuals.

Regardless, the tax credit will force downward price pressure in used Teslas - especially older models because new is being sold at a "$8000 discount"
 
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ArchEtech

Member
Nov 22, 2021
133
76
Iowa
Non Tesla EV have crappy resale because they are mostly boring and crappy. That will change in the next couple of years.

Tesla is pricing after the increases, their cars at or over the limits of the proposed tax credit unless you get the base models. That will have a large effect on the used market.

The tax credits will effect release some, but the market is heavily inflated because people don’t want to wait 6 months to get a car. That’s effecting all cars.
 

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