Tesla Model S CPO Website - Now Live

[Drucifer]

A good friend of mine just wrote that he's thinking about leasing a 70D.

Are the CPO cars eligible for leasing?

I'm also trying to get him up to an 85D.

There are banks that will finance a car as a "business lease" and are fine with doing that with any car, new or used. You will likely need to already have a banking relationship with them connected to your business, but that is as simple as opening a business checking account.

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I'm really surprised they only have 1 recorded CPO sale from NY and just 2 in DC... I would have expected both those markets to be quite active... Maybe people from those markets are buying cars from other markets?

Well, Cyclone's DC car and my NY car are not on the list, since we placed a deposit on Friday before the "consolidator' went live. Maybe the east coast folks were quicker to jump in and the west coasters waited until "CPO Cyber Monday" to start shopping, :smile:

 

[Rockster]

Hey Drucifer, good points on the private parties in denial and those used car lots that went off KBB and NADA values. OUCH! Painful lessons are being learned indeed! I agree with all your points except Tesla CPO setting the floor on pricing. I think they've set the ceiling. Their trade in and buy back values are the floor in my opinion. This puts private party values just slightly above the trade in for the reasons I mentioned like: warranty, factory reconditioning, delivery prestige, anonymous buying experience etc. I'd much rather buy a CPO from Tesla than private party BUT for the right price, I'll buy used from private party and then buy the extended warranty and hopefully still be thousands ahead.

This is a prime example of how those who can't adapt to the Tesla model of selling cars won't be able to keep up. Soon we'll be seeing articles reporting that there's no market for used Teslas because used car dealers are reporting that they can't move them off the lot. All the while, CPO, inventory, and knowledgeable Tesla owners selling privately will capture the overwhelming majority of used Tesla sales.

 

[PokerBroker]

It will be interesting to see how well they keep up with the changing inventory in this program and how updated the webpage will remain. The Roadster preened page was never correct, and at times the had 100 Roadsters in inventory than they had online.

 

[Krrphx]

Krrph,

let me know how it went with whole CPO process.

I'm in the market for a CPO also.

I need to trade in wife's Honda accord hybrid. not sure how's that going work, since we still owe on the loan.

Thanks,

I started getting some good communication after a few days. Short version is that I've been given a 3-5 week timeline (placed my order on Saturday night) and I will be charged $1500 to ship the car from Atlanta. Very likely might have made a different decision had I known that, but I suppose it is what it is at this point. I'm told that the timeline is so long due to the shipping distance and the extensive post-shipment inspection and detailing that will take place once the car arrives in Scottsdale. I'v asked for actual photos of my car but have not yet received them.

At this point, it's a waiting game. So far, communication hasn't been insanely good from the DS, but it's been acceptable for this stage in the process. I just want to get behind the wheel of this car, so I'm hoping we're closer to 3 weeks out than 5!

 

[lolgas]

I started getting some good communication after a few days. Short version is that I've been given a 3-5 week timeline (placed my order on Saturday night) and I will be charged $1500 to ship the car from Atlanta. Very likely might have made a different decision had I known that, but I suppose it is what it is at this point. I'm told that the timeline is so long due to the shipping distance and the extensive post-shipment inspection and detailing that will take place once the car arrives in Scottsdale. I'v asked for actual photos of my car but have not yet received them.

At this point, it's a waiting game. So far, communication hasn't been insanely good from the DS, but it's been acceptable for this stage in the process. I just want to get behind the wheel of this car, so I'm hoping we're closer to 3 weeks out than 5!

I'm in DC and had a car shipped from Atlanta and it was a 3 week process from start to finish. The wait was unbearable however well worth it. Hang in there!

 

[MsElectric]

There are banks that will finance a car as a "business lease" and are fine with doing that with any car, new or used. You will likely need to already have a banking relationship with them connected to your business, but that is as simple as opening a business checking account.

Do you know of *any* bank that would do this? I have not been able to find any bank. I'd love to do a business lease for tax purposes. To protect the bank I can have an insanely low residual so that I have the benefit of buying the car at the end of the lease at a very nice price.

 

[KJD]

I started getting some good communication after a few days. Short version is that I've been given a 3-5 week timeline (placed my order on Saturday night) and I will be charged $1500 to ship the car from Atlanta.

Have you thought about buying a plane ticket to Atlanta instead?

 

[No2DinosaurFuel]

Is it me, but most of the new CPO are now costing more? I looked at the consolidator website and sorted by the date added and most of the newly added is > 70K or so. If we are comparing to some of the older cars listed, they are not as good of a deal. I hope this does not become a trend going forward.

 

[Drucifer]

Do you know of *any* bank that would do this? I have not been able to find any bank. I'd love to do a business lease for tax purposes. To protect the bank I can have an insanely low residual so that I have the benefit of buying the car at the end of the lease at a very nice price.

The way the bank does it is it works essentially like a car loan. It is a capital lease with a $1.00 buyout at the end. I deal here in North Carolina with First Citizens bank, but I imagine there are others.

 

[MsElectric]

Is it me, but most of the new CPO are now costing more? I looked at the consolidator website and sorted by the date added and most of the newly added is > 70K or so. If we are comparing to some of the older cars listed, they are not as good of a deal. I hope this does not become a trend going forward.

I tend to agree with you. They added some 2013 P85 for the mid 80s when you could have bought them for the mid to late 60s and a few are still available at those prices. At the end they might be testing the market and the market will eventually set the prices. It seems about 2/3 of what has been sold has been sold for less than $70K. I feel the mid 70s are going to be a cut off figure for most people considering a used car as beyond that price it might make more sense to buy new.

Tesla will adjust prices as they are set by the market. My feeling is that cars on the CPO inventory for more than 30 days will likely see downward price adjustments.

 

[Drucifer]

I feel the mid 70s are going to be a cut off figure for most people considering a used car as beyond that price it might make more sense to buy new.

I agree. I considered about $75k to be my ceiling for used/CPO. Consider that I could get a very well equipped 70D for $94k ($87k after tax credit). I need at least a $12k discount, after tax credit, to accept used, with no autopilot or parking sensors.

The really well priced ones are selling fast. You snooze - you lose.

And with this message, I am no longer a Junior Member. whew!

 

[MsElectric]

I agree. I considered about $75k to be my ceiling for used/CPO. Consider that I could get a well equipped 70D for $94k ($87k after tax credit). I need at least a $12k discount, after tax credit, or more to accept used, with no autopilot or parking sensors.

The really well priced ones are selling fast. You snooze - you lose.

Yeah some people got some great deals. Especially those who bought 2013 P85s for the mid 60s Some are still available at those prices so I think they will have to reduce the prices of the 2013 P85s that they just added today for the mid 80s. At that point might as well put about $5K more and buy a brand new 2015 85D with Autopilot and AWD.

It was interesting to see the two sold P85+ vehicles in DC for around $100K. That's inventory P85D territory pricewise...

 

[Krrphx]

Have you thought about buying a plane ticket to Atlanta instead?

From what I understand, my car is already prepped for shipping, may even be on a truck. Well, that last part is pretty optimistic thinking, but it's the mentality I've decided to go with for the next few weeks. Also, there's no good version of the drive from ATL to PHX through superchargers as far as I'm concerned.

 

[taurusking]

Yeah some people got some great deals. Especially those who bought 2013 P85s for the mid 60s Some are still available at those prices so I think they will have to reduce the prices of the 2013 P85s that they just added today for the mid 80s. At that point might as well put about $5K more and buy a brand new 2015 85D with Autopilot and AWD.

It was interesting to see the two sold P85+ vehicles in DC for around $100K. That's inventory P85D territory pricewise...

Are the cars added recently have more options that the earlier ones? I am wondering if Tesla is increasing prices on their CPO cars.

 

[Cyclone]

From what I understand, my car is already prepped for shipping, may even be on a truck. Well, that last part is pretty optimistic thinking, but it's the mentality I've decided to go with for the next few weeks. Also, there's no good version of the drive from ATL to PHX through superchargers as far as I'm concerned.

You would have a much longer drive with more complications, but feel free to take a look and chime in here:
Road Trip to Buy a Tesla?

 

[Drucifer]

Are the cars added recently have more options that the earlier ones? I am wondering if Tesla is increasing prices on their CPO cars.

I think Tesla started 'low' to create marketing "buzz" and move a few units out quickly and are now adding units at what will be more 'standard' CPO pricing. Just my guess, but I am thrilled to get my P85 for $10k+ less than the new ones going into the system.

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It was interesting to see the two sold P85+ vehicles in DC for around $100K. That's inventory P85D territory pricewise...

I am guessing these are rear wheel drive enthusiasts who want the maxxed P85+, but in RWD format. It is the only thing that makes sense.

 

[No2DinosaurFuel]

Mid to low 60s for the p85 is a good deal and they can move them. Once you get to 70 to mid 70s for a p85, then loke others who have stated here, might as well get the s85d for much better value because you can get 7.5K back from governement making it around the 70s. As for the options, most are standard now on the s85d now.

Here is what i loke to see.

P85 - low to mod 60s
S85 - mid 50s
S60 - high 40s to low 50s.

Now those number might be a bit optimistic, but my take on it is:
P85 competes with the S85D
S85 competes with the S70D
S60 really should be much cheaper because it is the bottom now.

Keep in mind used cars should be less than new cars. Hopefully tesla comes to their senses and price them properly.

 

[lolgas]

Just need tint and wing and I'll be done for awhile. Loving my CPO

 

[justaddsun]

Mid to low 60s for the p85 is a good deal and they can move them. Once you get to 70 to mid 70s for a p85, then loke others who have stated here, might as well get the s85d for much better value because you can get 7.5K back from governement making it around the 70s. As for the options, most are standard now on the s85d now.

Huh? A new 85D with 19s, pano roof, tech, no AP, air, sound, subzero, premium is $90k after rebate. Loaded CPO P85 is about $70k. Let's not exaggerate here.

 

[Drucifer]

Mid to low 60s for the p85 is a good deal and they can move them. Once you get to 70 to mid 70s for a p85, then loke others who have stated here, might as well get the s85d for much better value because you can get 7.5K back from governement making it around the 70s. As for the options, most are standard now on the s85d now.

Here is what i look to see.

P85 - low to mod 60s
S85 - mid 50s
S60 - high 40s to low 50s.

Now those number might be a bit optimistic, but my take on it is:
P85 competes with the S85D
S85 competes with the S70D
S60 really should be much cheaper because it is the bottom now.

Keep in mind used cars should be less than new cars. Hopefully tesla comes to their senses and price them properly.

Kind of agree, certainly on the P85 vs the S85D. I think S85 competes with S85 and S60 is in a class of its own.

I think the bands are narrower though. There is no reason for Tesla to ever sell a car for less than $55K, regardless, and no reason for a buyer to pay more than $80K, except under rare circumstances. If a car is worth less than $55K at this point in time, it probably needs to go to auction due to mileage or condition, and not be in the CPO program. So I see going forward:

P85 - $70 - $85K+
S85 - $62 - $77K
S60 - $55 - $65K