Absolutely this.Or, buy one more and keep it for many years
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Slap in the face by Tesla - Trade-in value £20k less than I paid Tesla just 18 months ago.
- Thread starter intothesunset
- Start date
Leytonstone
You're mistaken
My car has moulted the cost of a brand new Model Y in the few years I've owned it. Tesla are being economical with the truth when they sell you the car, in that their order page focuses on nebulous "fuel savings" without acknowledging that fuel and every other expenditure are dwarfed by murderous depreciation, but there's this really simple thing you can do to recoup what you put in, though it's been said before: run your Model S into the ground.
Also trust me, you don't want a Model 3
Wattsisname
MY Red/White/Gems
I sold my last car privately for 15% more than the offers from that list of online buyers. Autotrader is excellent but beware of dealer callers. Set a realistic price and stick to it. I did and the first person to see it bought it without quibble.
(I sold it after taking delivery of the MY and was relaxed; not in a hurry, which helps.)
The whole process of buying the Y and selling the Bavarian was dealer free and so much better for that.
@intothesunset your trade in expectations are well out of line with the used market at the moment.
Tesla also don’t want a 7 year old used car to sell. Most main dealers only keep hold of cars that are 3-4 years old and in excellent condition with all service stamps. Everything that doesn’t meet this criteria goes to auction.
As someone said in this thread, the trade in price will be based on how much they can expect to get at an auction, less some standing fees for handling the vehicle and auction costs.
Stuff like MCU upgrades has little to no bearing on used values. The same applies to things like FSD and EAP or equivalent features on other brands of car. Certainly not anything like the costs to add the option at the time of purchase.
@intothesunset, the cheapest 2016 Model S 85D on Autotrader which is in battery warranty (70k miles) from a dealer is only £22k. 2016 model S start at £18k for a private sale.
That trade in value seems reasonable, particularly when 4 people (tesla, transport company, auction house and the selling dealer) need to get a cut from the price plus that the end user pays.
Tesla also don’t want a 7 year old used car to sell. Most main dealers only keep hold of cars that are 3-4 years old and in excellent condition with all service stamps. Everything that doesn’t meet this criteria goes to auction.
As someone said in this thread, the trade in price will be based on how much they can expect to get at an auction, less some standing fees for handling the vehicle and auction costs.
Stuff like MCU upgrades has little to no bearing on used values. The same applies to things like FSD and EAP or equivalent features on other brands of car. Certainly not anything like the costs to add the option at the time of purchase.
@intothesunset, the cheapest 2016 Model S 85D on Autotrader which is in battery warranty (70k miles) from a dealer is only £22k. 2016 model S start at £18k for a private sale.
That trade in value seems reasonable, particularly when 4 people (tesla, transport company, auction house and the selling dealer) need to get a cut from the price plus that the end user pays.
Has anyone considered that Tesla may actually run diagnostics on a car when you ask for a trade in. Potentially the low ball figure is because they have checked the HV battery and see it as a risk?
They may actually have accounted for a replacement which is why they gave you a low ball offer. As others have mentioned, the battery warranty is pretty much done so they would need to offer the new buyer some form of assurance prior to selling that the battery isn’t a dud. They may replace it and then sell it with 12/24m battery warranty.
Just a thought, based on zero evidence.
They may actually have accounted for a replacement which is why they gave you a low ball offer. As others have mentioned, the battery warranty is pretty much done so they would need to offer the new buyer some form of assurance prior to selling that the battery isn’t a dud. They may replace it and then sell it with 12/24m battery warranty.
Just a thought, based on zero evidence.
Wattsisname
MY Red/White/Gems
You make a good point though. Third-party resellers (e.g. dealerships) probably don't provide any warranty on a used Tesla, so they don't have to worry about this.
I highly doubt Tesla is replacing these batteries proactively, but I'm sure their actuaries know the battery failure risk and Tesla does give used cars some sort of additional warranty (1 year?).
ACarneiro
Active Member
Can’t imagine residuals for other EVs being significantly better than Tesla, though.Other EVs are available…
The same concerns with battery longevity surely apply?
kelvin 660
White SR+ with LFP battery
I'm a strong believer that only having 8 years of battery warranty is going to affect used EV car pricing and lead to high levels of deprecation between years 0 to 8.
I think it would cost in the region of £2-3K/year to provide extended battery warranty for a further 8 years.
Therefore, unless you are going to run your EV till it breaks (and the battery last more than 16 years) running a ICE car is probably more cost effective right now. Notwithstanding company car users.
Of course, nothing is quite as pleasurable as driving an EV...
I think it would cost in the region of £2-3K/year to provide extended battery warranty for a further 8 years.
Therefore, unless you are going to run your EV till it breaks (and the battery last more than 16 years) running a ICE car is probably more cost effective right now. Notwithstanding company car users.
Of course, nothing is quite as pleasurable as driving an EV...
In the UK every sale by a trader to a member of the public gets an all encompassing 6 months of warranty under a piece of legislation called the Consumer Act. Every vehicle sold that has a fault within the first 6 months is deemed to have been present at the point of sale and therefore the responsibility of the seller to rectify - or provide a full refund.
The dealer gets one chance to fix it first time - and if they fail the buyer has the option to reject the car and get a full refund.
The only exception to this is if the fault has been identified prior to sale or the dealer can prove the fault was caused or induced by the buyer.
Its a piece of legislation that a significant number of people in the UK know nothing about - which is quite puzzling.
Yep same across the board I think, Polestar 2 has eye watering depreciation, last couple of years with shortages haven’t helped, so many more discounts available now which will hit used prices along with battery concerns
Rooster6655
Active Member
There are 50+ SR+ 2019/20 under £25k with less than 40k miles on autotrader
I think around that price based on the mileage and age
LiamPope
Member
Imho, it should be quite low risk/cost for them to offer long battery warranties, like 15 years+, if they are based on a sliding scale of allowable degredation % vs years and/or miles. So people would have to accept degredation with old age/big miles, but they are covered for a sudden total failure. Failures are pretty rare so 99.9% of cars won't get a claim with this kind of criteria, and those that do have a failure could be replaced with one of like-for-like age/degredation which wouldn't be so expensive when a supply of old but still working batteries is available. But importantly owners wouldn't be so terrified at the idea of owning an old EV due to the potential for a battery failure.
Wattsisname
MY Red/White/Gems
Maybe you could check one of these cheepies out then we will have the full story rather that the arresting headline.
This all getting a bit Monty Pythonesque;
"When I were a lad ......for ten bob"
Fortunately, I have no plans to sell her but I feel for those of you who have been caught by unexpected depreciation resulting from the joy/cache of early adoption and the premature desire to trade up/down.
Liam, what you have described is exactly how my home storage batteries warranty works. I have 3 Solax Tripple power LI 4.5Kwhr batteries charged from the solar, They have a 10 yr warranty but reading the terms its a sliding scale year by year as to what's acceptable degradation percentage wise. They are 5 yrs old now and seem to be performing now as well as they did when first fitted.
I've recently had an issue with the IOS Solax app, just wasn't showing the state of charge as a sliding scale but it did show you a snapshot of what the level was, considered it was perhaps an issue after an IOS update and the app incompatible. Anyway - Its been fixed after contacting Solax but still they want to come and do some checks on the batteries and perhaps upgrade the firmware - and they are coming this Friday.
Very pleased with this level of service as I didn't ask for a home visit or indeed think its necessary but I will ask what the current state of the batteries are.
That would be great. One issue might be that someone in year 12 wants a new battery, so they somehow *cause* a battery failure.
I still hold out hope that clever engineers will eventually figure out a way to simply remove dead modules from the pack. Perhaps batteries of the future can have 10 or 15 modules, and instead of a failed cell causing complete pack failure (as it is today), the BMS of will isolate and disable just the module that the failed cell is in. This will be a game changer.
LiamPope
Member
Well in my proposal you only get a battery the same age/condition as the one you had, so there'd be zero incentive to do that. At some point in the not so distant future there'll be a steady supply of Tesla (and others) batteries from end of life cars that still work fine. In my mind, if they can be reused in this way to offer warranty replacements for old cars, there could be an EV ecosystem where battery failure isn't a thing any owner has to worry about. Imagine Tesla offering 'lifetime battery warranty (but check the smallprint)'!
