Tesla residual value at the bottom

[F_vo]

Tesla residual value at the bottom


So we have a X 90D some 28 months old, price 125000 €.


Now 2 and half months later the car is worth for Tesla (if we buy another one)

Is 44 000 €. So one looses a lot of money.

But it’s getting better. I drive a X P100D, price march 2017 was 162500 €

Out of curiosity I asked Tesla what would be paid for my car now (25 000 miles on it).

Well…you are not going to believe this:


54 800 €, so I would loose 107 700 € in about 28 months (less if you count from day one

that prices went down).

In fact 109 800 € is the new price for a new X P100D, the only difference is that I have Autosteer

and the new car not or you pay 6400 € (I would not take that again).

So Elon where is your claim that the residual value would always be high for a Tesla.

Off course I have proof of what I claim here on paper.


François

 

[traxila]

Tesla residual value at the bottom


So we have a X 90D some 28 months old, price 125000 €.


Now 2 and half months later the car is worth for Tesla (if we buy another one)

Is 44 000 €. So one looses a lot of money.

But it’s getting better. I drive a X P100D, price march 2017 was 162500 €

Out of curiosity I asked Tesla what would be paid for my car now (25 000 miles on it).

Well…you are not going to believe this:


54 800 €, so I would loose 107 700 € in about 28 months (less if you count from day one

that prices went down).

In fact 109 800 € is the new price for a new X P100D, the only difference is that I have Autosteer

and the new car not or you pay 6400 € (I would not take that again).

So Elon where is your claim that the residual value would always be high for a Tesla.

Off course I have proof of what I claim here on paper.


François

Sorry for your losses. The problem is that Tesla keeps innovating while simultaneously dropping the price on their products - something you want to see from a car company looking to dominate the new market and change the world.

However, this does of course do damage to resale values. As a caveat, I will mention that new cars plummet in value, regardless of brand, and that buying new cars is the best way to burn your cash. In this case, your depreciation is indeed accelerated.

BUT, you have been driving the finest cars in the world. I hope they have served you well and continue to do so far into the future where at some point this will not matter anymore.

All the best.

 

[wycolo]

The aluminum Teslas will last 'forever' [nominally 1 million miles] so just keep your Tesla is the most economical thing to do. My original 2012 [#199x] is still the 'world's best car' in so many ways.
--

 

[ChadS]

Tesla's trade-in offers are notoriously low. The FMV is much higher (I have sold 3 - not to Tesla). So you haven't "lost" all that money unless you sell it to Tesla, and then part of the loss is from selliing it to the low bidder.

A lot of people trade in at those low prices anyway, which is partly why their offers are so low.

 

[Cosmacelf]

Tesla's trade-in offers are notoriously low. The FMV is much higher (I have sold 3 - not to Tesla). So you haven't "lost" all that money unless you sell it to Tesla, and then part of the loss is from selliing it to the low bidder.

A lot of people trade in at those low prices anyway, which is partly why their offers are so low.

Yes, although selling an expensive car on the private market is a pain.

 

[ChadS]

It indeed can be (and that is also partly why Tesla offers are low), although finding what people will pay is how we determine FMV.

I keep my cars in good shape and price them fairly, so I usually sell them to the first person to look at them so I haven't had trouble selling.

 

[F_vo]

Thanks for the reply guys.

Anyway, also on the second hand market the price for a Tesla is going down.

I bought the X 9100D because the X 100D was not available and the salesman told me he did not know when the 100D would be a coming.

I do not regret having the car, do not like the way it went. Gives you the feeling that the price I paid was a rip off.

François

 

[meomyo]

Tesla's trade-in offers are notoriously low. The FMV is much higher (I have sold 3 - not to Tesla). So you haven't "lost" all that money unless you sell it to Tesla, and then part of the loss is from selliing it to the low bidder.

A lot of people trade in at those low prices anyway, which is partly why their offers are so low.

but in OP case in 2016/17 he paid alot more then you can get a new one for now so op would have to take a bath in his sale to sell it compared to somone looking at new prices and the new raven models . His used car is worth like 50k as a new one is what...77k?

 

[meomyo]

I bought to drive till it dies!!!!!!!!!!!!!!!!!! I just hope tesla make battery packs readily avail at fair cost in 8-12 yrs if that particular weak point in the car starts to go. Say the new battery pack is 20-30k and you kept you car in mint shape its maybe worth changing the pack if it deteriorates too much. Like putting a new motor in a car for 2k vs having to get another car for 2k???

 

[Fernand]

Thanks for the reply guys.

Anyway, also on the second hand market the price for a Tesla is going down.

I bought the X 9100D because the X 100D was not available and the salesman told me he did not know when the 100D would be a coming.

I do not regret having the car, do not like the way it went. Gives you the feeling that the price I paid was a rip off.

François

Is this the first time you bought a new car?

In the US there's a folk saying about how you lose 1/2 of ANY car's value the instant you drive it off the lot. Call it a ripoff, I won't disagree, but that's how it's been for almost a century. If the depreciation curve is flatter than average, we call that remarkable, and relative to inflation, maybe even "appreciating".

Just for your information, take a look at prices on used Teslas in Northern California.

 

[30seconds]

I bought to drive till it dies!!!!!!!!!!!!!!!!!! I just hope tesla make battery packs readily avail at fair cost in 8-12 yrs if that particular weak point in the car starts to go. Say the new battery pack is 20-30k and you kept you car in mint shape its maybe worth changing the pack if it deteriorates too much. Like putting a new motor in a car for 2k vs having to get another car for 2k???

There doesn’t seem to be much degradation even after 150k miles. Unlikely new pack will be needed in 8-12 hrs unless you are putting an insane amount of miles on the car

 

[F_vo]

hey guys,

just back from the states doing a road trip for 3 weels and 2750 miles.

Well Fernand I drove Opel, Saab, Renault, Mercedes, BMW, Audi, again Mercedes, BMW, so yes I had a few cars.

But none of the sellers or companies claimed the residual value would be high.

François

 

[timk225]

This is all wrong. Elon said the cars would appreciate in value. He said it!!! I'd call Tesla back and correct their lowball offer, and remind them that Elon said the cars would gain value with age, not lose it.

 

[M3BlueGeorgia]

That price variance is absolutely insane.
You should be down only 30% to 40%, based on what we see here in the States.

 

[FreqFlyer]

Its an overheated auto market. Even used cars prices are trending down. As on poster stated, taking a 50% hit on a new car, especially luxury cars are the norm.

 

[F_vo]

Well Fernand, must add this..

True a car looses about 50% once you bought it. This is already so for decades...

But thanks to Tesla I did loose 50% of the value of the car and another 35% because prices where going down.

François