Specific scenario to buy used MS to get M3 sooner?

[omar10r1]

Hello! I know this topic has been beat to death on numerous forums, so please forgive me positing one specific scenario...

I've been more than happy to wait as long as I need for my model 3 config to arrive (won't be until August at best I'd bet). However, a local 2013 Model S85 with 88k miles is for sale for 35k. While it's a base model with no tech package it has Twin Chargers, Air Suspension, and Premium Sound.

I can't get the thought out of my head of getting this car with the significant downpayment I have saved up (30-40%) and trading in/selling later solely in the hopes of getting out of my clunker now and hopefully getting my 3 sooner. Yes, even with an S in hand, I'd still have my eye on the 3!

Fiscally, I'll be in positive equity territory with this downpayment and the X months of payments until my 3 is available. Plus if the recent press holds true, this S will only depreciate about ~$1,300 in the next year which I see as the only money I'd really lose since this car seems to be on the low side of KBB value. Also, there'd be very little additional mileage put onto this car save a road trip or two since I have a 6 mile round trip commute to work.

I lose a little bit of money, but gain 9+ months in a Tesla and an earlier spot in line for the Model 3. My brain says it's not worth it but my heart says go for it! Has anyone here made a similar jump? Am I missing anything here?

 

[omar10r1]

A couple of things I forgot to mention:

- S has a clean carfax, one owner, was a corporate car hence the high mileage.
- I may or may not be driving to look at the car today.

 

[number12]

Fatal flaw is thinking any S will only depreciate only $1300 in a year. Even used.

But even your clunker will depreciate in that year so you can subtract that as well from your calc.

It's not a bad plan. Just "write off" 5K for driving an S for 6 months then do your math. Probably worth it.

 

[jjh1234]

Someone else here had an existing M3 reservation and bought a used MS in the hopes to move up in line. I remember him saying his estimated date did not change. You may want to try and find the thread to see if he eventually had success or not before you buy. Of course, I'd recommend buying anyhow. Enjoy the MS while you are waiting for the M3!!

 

[omar10r1]

Someone else here had an existing M3 reservation and bought a used MS in the hopes to move up in line. I remember him saying his estimated date did not change. You may want to try and find the thread to see if he eventually had success or not before you buy. Of course, I'd recommend buying anyhow. Enjoy the MS while you are waiting for the M3!!

Ah yes, I feel like I read that too....I shall search!

 

[ElecFan]

Anybody successfully gotten a priority bump after purchasing a MS/MX?

 

[omar10r1]

Someone else here had an existing M3 reservation and bought a used MS in the hopes to move up in line. I remember him saying his estimated date did not change. You may want to try and find the thread to see if he eventually had success or not before you buy. Of course, I'd recommend buying anyhow. Enjoy the MS while you are waiting for the M3!!

Fatal flaw is thinking any S will only depreciate only $1300 in a year. Even used.

But even your clunker will depreciate in that year so you can subtract that as well from your calc.

It's not a bad plan. Just "write off" 5K for driving an S for 6 months then do your math. Probably worth it.

Thank you!

My depreciation assumption felt low too, but I was going off of a mix of this recent graph and KBB (I think?) saying the car would depreciate ~$5600 over the next five years. I know linear extrapolation rarely applies to real life, but I took that amount and estimated from there.

 

[omar10r1]

Anybody successfully gotten a priority bump after purchasing a MS/MX?

Awesome, thank you!

 

[daniel]

In assessing this, I would not count on getting the Model 3 sooner, because at this point delivery dates are just too uncertain. I remember one person posting that he was told he would move up in the queue when he bought his S, but the formula is not public, as far as I know.

The way I would look at this is that you get to drive a Tesla for as long as it takes for your Model 3 to arrive. If you are driving a stinker/junker now, the enjoyment of switching to electric is huge. Figure that depreciation will be 50% more than whatever you calculate, and don't forget lost interest from pulling the money out of investments (unless it's in a regular bank account at 0.05%, or whatever banks are paying now). Then whatever enjoyment you expect to get from driving a Tesla, double that.

If I was not already driving a Tesla, I would jump at the chance to switch to one, but everybody's financial situation is different. So the question is, Can you afford it? If you can, then do it. My first EV was a Zap Xebra. It was a complete pile of junk and a death trap. And for 4 years it was my daily driver and I loved it and had a big grin on my face every time I drove it. How much better if it's a Tesla than a Xebra! Go for it if the money is not going to put a squeeze on you.

 

[omar10r1]

In assessing this, I would not count on getting the Model 3 sooner, because at this point delivery dates are just too uncertain. I remember one person posting that he was told he would move up in the queue when he bought his S, but the formula is not public, as far as I know.

The way I would look at this is that you get to drive a Tesla for as long as it takes for your Model 3 to arrive. If you are driving a stinker/junker now, the enjoyment of switching to electric is huge. Figure that depreciation will be 50% more than whatever you calculate, and don't forget lost interest from pulling the money out of investments (unless it's in a regular bank account at 0.05%, or whatever banks are paying now). Then whatever enjoyment you expect to get from driving a Tesla, double that.

If I was not already driving a Tesla, I would jump at the chance to switch to one, but everybody's financial situation is different. So the question is, Can you afford it? If you can, then do it. My first EV was a Zap Xebra. It was a complete pile of junk and a death trap. And for 4 years it was my daily driver and I loved it and had a big grin on my face every time I drove it. How much better if it's a Tesla than a Xebra! Go for it if the money is not going to put a squeeze on you.

All good points. At this moment, I'm not sure if I even look at it as getting a model 3 sooner, more like "not as delayed!". It's ok, as I'm in no hurry.

I'm certainly not flush with cash, (funds are all in a special M3 savings account at the moment, not investments), but I really need to get out of my 2004 Hyundai Santa Fe. It's acting funny and overheats easily. I haven't even been calculating it's trade-in value in my budgeting.

The other factor here is that my spouse will need a new car as well soon, though I'm due first since my car is much older. The sooner I'm in a new car, the sooner we can save for her!

 

[daniel]

All good points. At this moment, I'm not sure if I even look at it as getting a model 3 sooner, more like "not as delayed!". It's ok, as I'm in no hurry.

I'm certainly not flush with cash, (funds are all in a special M3 savings account at the moment, not investments), but I really need to get out of my 2004 Hyundai Santa Fe. It's acting funny and overheats easily. I haven't even been calculating it's trade-in value in my budgeting.

The other factor here is that my spouse will need a new car as well soon, though I'm due first since my car is much older. The sooner I'm in a new car, the sooner we can save for her!

Getting a Model S seems like a good choice. Test-drive one first, though, to make sure it's not too big. That car is huge. That's why I never got one. (And I love my little Roadster.)

I cannot offer any help as to what's a fair price, but it sounds as though you've done that research.

 

[Big Earl]

Have you considered a used Fiat 500e to hold you over until your Model 3 arrives. That’s what I’m doing and it’s been great so far. Got it off-lease for $8,000 with a CPO warranty and under 10,000 miles on the odometer. I’ve been driving it for 8 months at 2.5 cents per mile and it’s at 19,000 miles now.

If the 500e won’t work for you due to limited range, I know you’ll be thrilled with the Model S.

 

[Qbenjamin]

Ride it out with the current vehicle until the wheels fall off...

 

[omar10r1]

Ride it out with the current vehicle until the wheels fall off...

They're literally about to! It starts to overheat if I idle too long, the rear passenger door handles have broken off, and the trunk door hydraulics don't work.

 

[omar10r1]

Have you considered a used Fiat 500e to hold you over until your Model 3 arrives. That’s what I’m doing and it’s been great so far. Got it off-lease for $8,000 with a CPO warranty and under 10,000 miles on the odometer. I’ve been driving it for 8 months at 2.5 cents per mile and it’s at 19,000 miles now.

If the 500e won’t work for you due to limited range, I know you’ll be thrilled with the Model S.

I've not considered a fiat 500e, but I have looked at used 2014 Leaf's for 3k outright.....but it's not a Tesla.

 

[thegooch49]

Hello! I know this topic has been beat to death on numerous forums, so please forgive me positing one specific scenario...

I've been more than happy to wait as long as I need for my model 3 config to arrive (won't be until August at best I'd bet). However, a local 2013 Model S85 with 88k miles is for sale for 35k. While it's a base model with no tech package it has Twin Chargers, Air Suspension, and Premium Sound.

I can't get the thought out of my head of getting this car with the significant downpayment I have saved up (30-40%) and trading in/selling later solely in the hopes of getting out of my clunker now and hopefully getting my 3 sooner. Yes, even with an S in hand, I'd still have my eye on the 3!

Fiscally, I'll be in positive equity territory with this downpayment and the X months of payments until my 3 is available. Plus if the recent press holds true, this S will only depreciate about ~$1,300 in the next year which I see as the only money I'd really lose since this car seems to be on the low side of KBB value. Also, there'd be very little additional mileage put onto this car save a road trip or two since I have a 6 mile round trip commute to work.

I lose a little bit of money, but gain 9+ months in a Tesla and an earlier spot in line for the Model 3. My brain says it's not worth it but my heart says go for it! Has anyone here made a similar jump? Am I missing anything here?

Why on earth would someone configure a car with Twin Chargers, Air Suspension, and Premium Sound and no tech package? Are you sure that it doesn't have tech? If you bought it, it would potentially be really painful to re-sell. I would never consider a car missing the tech package.

 

[omar10r1]

Why on earth would someone configure a car with Twin Chargers, Air Suspension, and Premium Sound and no tech package? Are you sure that it doesn't have tech? If you bought it, it would potentially be really painful to re-sell. I would never consider a car missing the tech package.

That is definitely on my list of questions.... I'm almost positive it doesn't have tech (I'd post the Maroney Sticker, but I'd like to protect the seller's confidentiality). In 2013 models, Tech is always listed right? This one isn't and each option is listed separately.

 

[thegooch49]

That is definitely on my list of questions.... I'm almost positive it doesn't have tech (I'd post the Maroney Sticker, but I'd like to protect the seller's confidentiality). In 2013 models, Tech is always listed right? This one isn't and each option is listed separately.

The Monroney would have it listed as a $3,750 option in the same area as the other options. If it truly doesn't have tech, it would be a strong pass for me. Reselling later would be a major pain in my opinion.

 

[ChadS]

Not everybody has the same opinion, though; the important one here is omar10r1's (who should buy what he wants, rather than what he thinks the next owner might want). That is a pretty low price, and it no doubt already reflects the tech package not being there. Most people have some option they think is a requirement, and I agree the tech package is really popular; but cars without any options still manage to get sold.

I agree with Daniel's take. If you don't have an EV now, and you can afford this, you will be glad that you made the jump as soon as possible rather than waiting.

 

[omar10r1]

The Monroney would have it listed as a $3,750 option in the same area as the other options. If it truly doesn't have tech, it would be a strong pass for me. Reselling later would be a major pain in my opinion.

Not everybody has the same opinion, though; the important one here is omar10r1's (who should buy what he wants, rather than what he thinks the next owner might want). That is a pretty low price, and it no doubt already reflects the tech package not being there. Most people have some option they think is a requirement; but cars without the option still manage to get sold.

All good points. I'm going to look at the car in two hours or so, I'll report back and share what I find out!

For those that are curious, I've cropped the Monroney Sticker to only show options. Reminder, sale price for this 2013 S85 is currently 35K. Odd build for sure....

I should also mention that I have reservations about buying privately and not used (CPO), mostly because I've never done it before.