Daniel in SD
(supervised)
Sounds like you should move somewhere where you don't have to drive then. Clearly you actually value other things over your life.
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Tesla Model 3 Performance value at CarMax - appraisal lower than expected!
- Thread starter Halloween81
- Start date
Hello,
Can you please help me with diminished value dispute process? I am in the same boat, got rear-ended on 28th day after the purchase.
thank you in advance.
Try matching up a Model 3 with a large SUV Head On.
Model 3's are great. But keep in mind that crash tests are NORMALIZED by their own weight.
A heavier vehicle will often fair better (for it's occupants) into another vehicle than a smaller one.
Now handling or hitting a tree are another matter.
P.S. Plummer's/Electrician's make a boatload of money these days.
So do tanks and if you think large SUVs are safer because they do more damage that is not the entire equation, thanks for the physics lesson. No idea what the trades you mention have anything to do with any of this.
Your response makes no sense. I value other things over my life? No idea what you mean.
Daniel in SD
(supervised)
I mean that the statement "There is no price for safety or your life IMO." is obviously untrue. The fact that you choose to drive a motor vehicle proves it. You value driving a motor vehicle over the chance that you will die driving it.
Seems a stretch to my point which is relative to diving a car. I also don't eat food with lead but that does not mean I don't eat at all or take mitigated risk. Driving in the Bay Area is insane now, it was not like this long ago so I would spend more on a safer car here. If I lived in a rural area I may make other possible choices for cost if safety was the mitigating factor. I will likely leave this area because it so bad. Ride share has had a huge negative impact here. SD and LA are much tamer for driving, I know I have lived in all three cities 2X each.
Reminds me of the geeky joke (copy/paste from Reddit):
My wife said: "Please go to the store and buy a carton of milk and if they have eggs, get six." I came back with 6 cartons of milk She said, "why in the hell did you buy six cartons of milk"
"They had eggs"
Yes, I am judging people who, in my opinion, make poor financial choices. It saddens me that so many people have no idea how to budget, make sound financial decisions, or resist impulse purchases.
It was already mentioned, but crash test ratings are not comparable between weight classes. So, pretty much every large SUV has an advantage over your Tesla, in most crashes. As an extreme example, who do you think is safer in a head-on crash between a 1990s H1 Hummer with only front airbags and a Tesla Model 3 with the latest safety features? Given the choice, I’d ride in the Hummer.
Do I have the calculations correct?
Cost of vehicle $73,200
Sales Tax = $0 (would be $4850, but it's exempted in NJ for EV's)
The 'Fred P3D' Refund = $0 (bought it after this "incident")
Cost in repairs = $1200 (have to confirm is this was out of pocket)
Misc. Cost (like car charger, etc) = $500
Total out of pocket cost = $74,900
Estimated Tax Credit = $2500 (doesn't have enough income, but is cash rich)
Total actual cost = $72,400
Cost to Sell = $125 (this might be incorrect)
Price Sold = $59,001
Total loss = $13,524
Number of miles driven = 7000
Cost per mile = $1.92
Cost per day of ownership = about $110
On the bright side it was really no more expensive than riding Uber for those 7000 miles
On the downside it was as expensive as riding Uber for those 7000 miles
On the bright side it was less than the average American spends per day
On the downside it was almost as much as the average American spends per day
This isn't meant to judge the OP. It's simply an exercise in cost calculation.
I spent over $10K on a Stromer Pedal Assist bike so I'm not one to judge.
Cost of vehicle $73,200
Sales Tax = $0 (would be $4850, but it's exempted in NJ for EV's)
The 'Fred P3D' Refund = $0 (bought it after this "incident")
Cost in repairs = $1200 (have to confirm is this was out of pocket)
Misc. Cost (like car charger, etc) = $500
Total out of pocket cost = $74,900
Estimated Tax Credit = $2500 (doesn't have enough income, but is cash rich)
Total actual cost = $72,400
Cost to Sell = $125 (this might be incorrect)
Price Sold = $59,001
Total loss = $13,524
Number of miles driven = 7000
Cost per mile = $1.92
Cost per day of ownership = about $110
On the bright side it was really no more expensive than riding Uber for those 7000 miles
On the downside it was as expensive as riding Uber for those 7000 miles
On the bright side it was less than the average American spends per day
On the downside it was almost as much as the average American spends per day
This isn't meant to judge the OP. It's simply an exercise in cost calculation.
I spent over $10K on a Stromer Pedal Assist bike so I'm not one to judge.
Daniel in SD
(supervised)
That’s way better than I would have expected. In CA he would have lost $7k more due to sales tax and registration fees! Obviously he should have figured out a way to get the $7.5k tax credit. IRA to Roth IRA conversion is what comes to mind. Though it also seems like if you had a friend who earns enough money you could buy the car from them.
That might be an understatement. You can generally count on CarMax offering the lowest number of anybody. That's because of their essentially predatory approach to the marketplace in which they will buy a lot of vehicles from financially distressed owners typically desperate for cash, in exchange for a check on the spot with minimal checking of the vehicle. This means they will have the lowest price in the industry and generally when you do comparison shopping nobody gets underneath CarMax's price. Consistent with their somewhat predatory approach to financially distressed owners, they also have an extremely poor record in terms of customer complaints and Better Business ratings in most areas. Adding to the concern there's a major FTC action against them currently. My guess is they are run by guys who are frankly somewhat sociopathic and who figured out that cash on the barrelhead within a matter of hours is the best way to make money because you can get your inventory dirt cheap, making on markup what you occasionally lose on taking in a lemon, and then some
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Hello everyone I decided to appraise my 2018 Tesla Model 3 Performance....I took delivery December 22nd 2018, the car has exactly 7493 miles on it with pearl white exterior color, white leather interior fully loaded with enhanced autopilot.... the car price is $73,200 with destination doc fee included and my down payment of $35,000 and CarMax has appraised me with offering me ($47,000) WTF!!!...this can't be right I only had a car for 2 months with only 7,000 miles and the car is fully loaded performance and I'm losing ($23,700)??? Please tell me this is wrong?? If soo I'm furious!!!
Good grief. It seems you keep making the same mistakes. Just like in relationship to the tires issue, you are looking at selling your car to CarMax!. Why don't you just set it on fire first? It would save you complaining about the car and the hassle of transacting with CarMax which is the worst outfit in the industry. See my later post on them. I would suggest you need to do more research before making impulsive decisions. That seems to be the common denominator here - maybe you need to learn how to look before you leap.
There is no standard “process” for diminished value. If you can get your own insurance company to pursue it, that’s as good of a plan as any other. A few things to note.
1. The at-fault driver’s insurance company will likely just stonewall you, ignore you, or lowball you.
2. You will need your own diminished value appraiser if you want to argue theirs is wrong. It’s doubtful that they’ll accept a third party (including CarMax) offer as establishing the car’s fair market value. If you actually sell it, then you can more easily argue that amount (assuming it’s reasonable) was the value.
3. One part of the dispute will be the value of the car PRIOR to the incident. That’s when they’ll argue total cost, depreciation, etc.
Unfortunately, there’s no simple way to get there. It’s all a matter of arguments and what the effort / hassle is worth to you. If you have a personal injury claim, that will get you a lot more attention than any property damage, but if you have a PI claim then get a PI lawyer. The fact of the matter is that insurance companies are going to make your life more difficult and that a lawyer will make their life more difficult.
Also, don’t forget the “Loss of Use” claim. That’s not a “rental rate” for just any car. It should be based on an equivalent car. I used Turo to argue mine.
But does the seller have to disclose that he beat the s*** out of it?
Assume it wasn’t loved or cared for if it can be let go so easily.
If someone makes a numerical claim, multiple or divide by 3 to get the real numbers.
Funny it even works when I said 35K Model 3 to wife.
Add in EAP, FSD, taxes, insurance, PPF, ceramic costing, tint, dash cam. Ouch!
Well at this point the bed on eBay it's still a 59000 so hopefully I get more than what's offered on the table if not I'm going to end up keeping the model 3 and just enjoying the car I'll just deal with driving my old car to work like I've been always doing but I hate to have two cars under my name I like to just stick with just one that way I save money
At this point right now it's still at $59,000 and I'm getting a lot more views and a lot more Watchers on the car but I still have a day left until the bed or auction ends but at this point right now a lot of people convinced me just to keep the car and just enjoy what you have of it or at least use up the supercharging that you have for free for 6 months that way you don't have to worry about paying for gas going to work and whatnot so what I've been doing for this week so far is that I just been bringing a set of clean clothes and my work clothes with me and I just change at the job so that this way my car will never get dirty something I'm not used to doing but I could get used to it
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