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Canuck
Well-Known Member
In addition to the good points Wazooda made, what happens if someone has an accident involving injuries during the "limbo" title phase? The owner of the car would be sued (along with the driver and vendor) for failing to properly supervise or explain this high tech car (among many other allegations of negligence) and even if those allegations can't be proven, they must be defended, which is very costly, and good luck explaining this selling "scheme" to your insurer for coverage, if you maintained your insurance during this limbo phase. Even if there's only property damage, whose insurance covers that?
I'd opine that anyone who buys a $100,000+ car and then sells it 18 months later for under $80,000 has more money than brains.
In my experience, a Carmax offer is not final. When I sold my ICE vehicle to help pay for my Tesla purchase, the offer I got from Carmax wasn't good enough, so I came back w/ my wife and we made a big deal about we're "this close" to saying yes but can you up the deal by this amount, etc. They pulled the "we'll have to talk to the manager" act and kept us sweating for a good long while, but in the end they met our raised price. So, we sold the car to Carmax. Still less than what I would've gotten from Craigslist but it was good enough.
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How about selling a $100,000+ car 36 months later for under $50,000? Because that's what it's gonna be. Tesla Model S's are going to depreciate ridiculously quickly, especially the VINs under 50000, imho. I try not to think about it.
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How about selling a $100,000+ car 36 months later for under $50,000? Because that's what it's gonna be. Tesla Model S's are going to depreciate ridiculously quickly, especially the VINs under 50000, imho. I try not to think about it.
Bardlebee
Member
CarMax seems to give surprisingly decent offers. I got a better-than-expected quote from them for a Honda Pilot (which I leveraged into a better offer from a private buyer).
When I was getting my Tesla I thought FOR SURE that no one would take my 2008 V6 Mustang for more then 5-7k.... they gave me 10k for it! I am for sure going to go to them again to sell our last ICE when the Model 3 comes out!
What I understood from Perfect Flaw posts, is that he would offer a service and sell it on your behalf and simply take the difference between the sale price and the Carmax offer plus $1500 as his service charge. So that you don't have to deal with a**holes looking for a cheap test drive. The actual sale happens between you and the buyer, and Perfect Flaw would facilitate the marketing, vetting the potential buyers, offering test drives and make the sale - all on your behalf.
I don't see anything wrong with that. There should be a level of trust though in this whole process.
I don't see anything wrong with that. There should be a level of trust though in this whole process.
Canuck
Well-Known Member
I don't know about that. Paying over $20K for 18 months of owning a car, especially if owned by a business as a business expense, and also depreciated as a business asset, doesn't sound like a lot of money to me, especially when compared to other business expenses. Plus, a Tesla is so much more fun than most other business expenses.
We only live once and people who have figured out how to make a lot of money, such that "losing" over $20k on a Tesla in 18 months is no big deal, usually have quite a bit of brain power, in addition to their money. There's no need to be condescending towards them. I commend them since they put a lot of used Tesla's on the market for others to get into electric vehicles. That's a really good thing to me.
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I'm quite certain that many people you call lazy by using CarMax are anything but lazy.
Well, over the years the only people who have told me they used CarMax have been some of the laziest, less financially savvy people I have came across. Not saying that there aren't rich people with money trees with relatives in Dubai wiring $100K in their bank accounts on a weekly basis who just want to get rid of the car quick, but I believe the majority falls in the ladder category.
Now, people trading into dealerships to get into a new car is a different story, I can see it working better if you are trading in one to give them gross margin on a new car.. but people that take it to CarMax for a quick sell are usually desperate for money and not financially savvy individuals. Sorry, but I call it like I see it and its the same ol' story over and over with that place and its 'customers'.
When I was in there the last time testing the CarMax waters again (which was my last time) there was a goofy dude in there who struck a conversation up with me and told me his whole life story. I guess he met a chick in the Philippines and wanted to marry her after spending 7(!) days with her there. He decided he needed quick cash and popped in there to get a check from CarMax for whatever he was driving so he could take that cash and move to the Philippines. Makes sense in that situation I guess lol
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Bardlebee
Member
I mean, I don't want to have this in the snippiness thread, but that is where this conversation is headed I imagine. In general, making sweeping generalizations of people is bad. Regardless of severity.
I think its best we drop the topic of who is lazy over the internet and maybe realize we all do things for certain reasons and some of those reasons include saving time or not being knowledgeable about selling a car and don't want to be knowledgeable. There is a huge list of maybe's and why's, but its a silly point if we are going to call a large group of people something without considering why.
EDIT: I will make my own sweeping generalization and imagine most believe they will get more selling the vehicle themselves, but again most people have a reason for what they do or don't do.
I think its best we drop the topic of who is lazy over the internet and maybe realize we all do things for certain reasons and some of those reasons include saving time or not being knowledgeable about selling a car and don't want to be knowledgeable. There is a huge list of maybe's and why's, but its a silly point if we are going to call a large group of people something without considering why.
EDIT: I will make my own sweeping generalization and imagine most believe they will get more selling the vehicle themselves, but again most people have a reason for what they do or don't do.
I agree with you. I am only basing my opinion off my personal experience, but I am sure many will disagree. Also, considering this is a Tesla forum, I doubt many of the people here fall in the 'lazy' category if they found financial means to purchase a Model S. But, maybe they need a little motivation to make some extra cash instead of passing the keys to CarMax so they can make $5-10K off of someone. But really, if that kind of money doesn't mean much to you then hell, take it to CarMax- they have to pay their employees some how.
It gets down to how you value your time and how "good" you are at selling cars.
As many on the forum, I have sold cars privately and traded them in. I have received what I asked for a car in a few weeks time, but I have also spent many hours and several months in phone calls, emails and test drives selling cars.
I am one of those who would see what CarMax and Tesla would offer, and then gladly pay someone like Perfect_Flaw $1500 for his time and efforts if he could garner me more.
As many on the forum, I have sold cars privately and traded them in. I have received what I asked for a car in a few weeks time, but I have also spent many hours and several months in phone calls, emails and test drives selling cars.
I am one of those who would see what CarMax and Tesla would offer, and then gladly pay someone like Perfect_Flaw $1500 for his time and efforts if he could garner me more.
I found my car for sale by a used car dealer who must have purchased it from CarMax:
http://www.jparadise.com/2013-Tesla-ModelS/Used-Car/SanJuanCapistrano-CA/5188076/Details.aspx
$81,995?!?!
Good luck with that.
Also funny how they have it listed as a "Signature" model.
Do the actual Signature models have some type of identifier?
http://www.jparadise.com/2013-Tesla-ModelS/Used-Car/SanJuanCapistrano-CA/5188076/Details.aspx
$81,995?!?!
Good luck with that.
Also funny how they have it listed as a "Signature" model.
Do the actual Signature models have some type of identifier?
breser
AutoPilot Nostradamus
Yes, signature vehicles have an S in the 12th character of the VIN (last character before the serial number). Your vehicle is clearly not a Signature vechicle. Someone knowledgeable about Tesla VINs can tell that right from their page.
VIN decoding info here:
ftp://ftp.nhtsa.dot.gov/MfrMail/ORG9130.pdf
After reading the OP, I decided to take my MS 60 to Carmax Irvine as well to see what kind of offer I would get. I received an offer of $62k........about $3-4k less than I thought I would get. I have approx 15k miles on the car.
Here are the options I currently have.
- 21 inch wheels
- ultra hi fidelity sound
- parking sensors
- tech package
- parcel shelf
- supercharger enabled
- tesla all weather floor mats
- CF spoiler
I'm sure they do not take any of this into consideration when appraising the car.
Lately I've been thinking of selling my MS but would def have to go the private party route to get something a reasonable price. What do you guys think is a reasonable selling price for my MS with all the above options and mileage? I also have the set of 19s that came with the car.
Here are the options I currently have.
- 21 inch wheels
- ultra hi fidelity sound
- parking sensors
- tech package
- parcel shelf
- supercharger enabled
- tesla all weather floor mats
- CF spoiler
I'm sure they do not take any of this into consideration when appraising the car.
Lately I've been thinking of selling my MS but would def have to go the private party route to get something a reasonable price. What do you guys think is a reasonable selling price for my MS with all the above options and mileage? I also have the set of 19s that came with the car.
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There are so many varying offers people get, it's hard to say. I would have estimated yours as being mid 50s because it is an s60 not an 85. I know some people love the 21" wheels, which to me are negatives. But everyone has their own ideas. I figured my s85 with 19" wheels, pano, air suspension, no parking sensors, no tech package, 1.5 years old, 16k miles was worth about 55k from tesla and 60-65 from some place like carmax.
I agree -- that is a crazy ridiculous price. They'd be lucky to get $10K less than the asking price. There is a P85+ with only 19K miles on Cars.com that you can buy for about $77K and another P85 for $75K. If you look around you can buy a P85 for the mid to late 70s. I heard some Tesla inventory cars are being sold for ~20K less and you get the $7,500 rebate on top of that.
A lot of the ridiculously priced Model S vehicles on cars.com are not going to find any buyers as at those prices you might as well buy new with the newer features and the exact configurations and options you want + the $7,500 credit.
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If you can get $62K for your S60 I would take that and run! That is a great offer and you might have a hard time getting that even as a private sale. I would have expected CarMax to offer you ~55 for your car. Maybe they made a mistake and thought your car is an S85.
You could get the $62K from CarMax put about another $13K in and upgrade to a pre owned P85. That's a great bit of extra performance and range for only $13K more.
Also the 21" wheels have virtually no extra value in the used car market. After hearing horror stories about how easily they are damaged, I would not want 21" wheels so I'd consider that a negative when evaluating a car with 21" wheels. I would factor in money to replace the 21" wheels when making an offer for a car with 21" wheels.
CarlK
Active Member
The fact that you don't want to pay for them does not mean no one else would. With that kind of logic MS would worth nothing because there are people who do not want to buy an EV.
True I suppose but like real estate, you need to have a buyer pool. The pool buying $50k+ used cars is low, then add EV, then a 60, and then you want someone to want 21s?
It is a rare bird. The used market favors practicality, the 60 market favors value. 21s are neither - so it would seem a rare buyer who wants that. But that car is in SoCal - probably the best market for 21s just because image is everything.
The upgraded sound is an option with limited resale value bump. It is a crazy expensive option and hard to find someone who wouldn't pick an 85 instead for just a few thousand more.
It is a rare bird. The used market favors practicality, the 60 market favors value. 21s are neither - so it would seem a rare buyer who wants that. But that car is in SoCal - probably the best market for 21s just because image is everything.
The upgraded sound is an option with limited resale value bump. It is a crazy expensive option and hard to find someone who wouldn't pick an 85 instead for just a few thousand more.
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