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Tesla screwed us

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seeing as I bought my 21 Y for less than even that, I would say the same thing I tell homeowners when their value drops....If you werent going to sell it right now then it doesnt m

Only way you are underwater is if you sell it or are selling right now...OR if you live in Northern cali lol
Cars are typically depreciating assets, so I do not have much hope that this initial drop will recover to something more reasonable in the near future. Its not like a home that we typically stay in for years, so many of us change our cars on a frequent basis. I rarely keep a vehicle more than 3 years. May have to now though. And its not like I am stuck with a Buick Encore. I can struggle along with a Model Y performance. :)
 
Cars are typically depreciating assets, so I do not have much hope that this initial drop will recover to something more reasonable in the near future. Its not like a home that we typically stay in for years, so many of us change our cars on a frequent basis. I rarely keep a vehicle more than 3 years. May have to now though. And its not like I am stuck with a Buick Encore. I can struggle along with a Model Y performance
Maybe get a lease then :p
 
Maybe get a lease then :p
I may have to. I have a car addiction. Since 2018 I've owned 2015 Ram 1500 Truck that I actually kept for close to 5 years (a record for me) that was replaced with a 2019 GMC Sierra AT4 that I sold for a profit and then purchased the Tesla. At the same time I had a 2018 Camaro 1SS 1LE that I barely used so I replaced that with a 2020 Jeep Wrangler before I got bored and sold that for a tiny profit and had not replaced it...until a few weeks ago when I purchased a 2023 Mazda CX5 for the girlfriend. Girlfriend just shakes her head every time I say I need a new car. lol. So this Tesla price drop is going to put a stop to this habit. No way I am selling at these crazy prices. Will have to wait it out. :)
 
This massive price reduction just tanked our resale values.

I can now purchase a performance model for less that the October 2021 pricing.

I am so mad and yet I am still better off than the people who only purchased in the last 6 months.

Never seen a company discount a new car this much.

With trucks, pre covid, you would always see up to $10,000 sales.

But an SUV.

They completely fooked us.
Now we understand why the angry Tesla owners were protesting in China as we've recently seen.
 
seeing as I bought my 21 Y for less than even that, I would say the same thing I tell homeowners when their value drops....If you werent going to sell it right now then it doesnt matter LOL.

Not sure I agree with all this Tesla = home or Tesla = stock comparisons.

Most people can't/don't want to live in a car, you tend to buy homes less than cars and cars will mostly only go down. Cars are not appreciating assets normally. Even with the housing crash, most folks who bought a while back in CA are still up tons...with probably sub 3% rates.

Still, I think some comments are way off here. Elon is not your friend. Elon doesn't care about you specifically. Elon cares about Elon and Tesla. You're not paid to market for Tesla so don't think there is a special club or you need to do it for Elon and should expect something back. Tesla has always? mostly had pretty bad after sales support I read, but expecting Tesla to do anything is probably never going to happen.

Tesla wants to sell cars. Lots of EVs. They don't care if they had to cut prices to do it. From some of the analyst reports, they plan to make as many as they can and sell them all. Price be damned.

Make sure you're ok with the price since it'll be a supply/demand equation and that's it for Tesla.
 
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Unless you’re planning on soon selling a car you recently bought at the peak, why does this matter? So what if the car value us dropped by $15k overnight, if you’re not selling who cares?
Or were you just flipping cars and getting a new one every few months due to the weird market?
If your car is financed you are years from paying it off and worrying about residuals.
And if you bought it so long ago that you paid a similar price to now then your residual is back where it would have been anyway before the market went crazy.
Unless you’re all ballers who paid cash and keep buying new cars every year for cash at which point you’re affected but if you’re a baller you’re not really…
 
Unless you’re planning on soon selling a car you recently bought at the peak, why does this matter? So what if the car value us dropped by $15k overnight, if you’re not selling who cares?
Or were you just flipping cars and getting a new one every few months due to the weird market?
If your car is financed you are years from paying it off and worrying about residuals.
And if you bought it so long ago that you paid a similar price to now then your residual is back where it would have been anyway before the market went crazy.
Unless you’re all ballers who paid cash and keep buying new cars every year for cash at which point you’re affected but if you’re a baller you’re not really…
I put 54k down and financed the rest. I’m screwed. If I sell, if my car gets stolen, or if my car gets totaled.
 
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My nearest Tesla store is 3+ hrs, won't be harassing them anytime soon. I think Tesla sucks right now, can't believe I've been supporting this crappy company. I have no choice but to keep my car but I am no longer a Tesla fan. I can't believe I own a car that I totally dislike the company and what they stand for. I was an early supporter of Tesla, I got on M3 list just to help boost them, figured the larger the wait list, the better it looks for investors. I was always on Tesla's side for all EV arguments. I'm done! Go to Hell Elon and take Twitter with you.
Yes other cars have seen decreases like this. The decreases are just hidden in opaque dealer pricing. $10-$20k off “sticker” for expensive cars is not unheard of when inventory gets high.
 
I put 54k down and financed the rest. I’m screwed. If I sell, if my car gets stolen, or if my car gets totaled.

This is why when the housing market crashed, it was "smart" in a way to do no money down loans and ride the upside, then just walk away if it went downhill (not that I was that smart to do that nor did it). No skin in the game was why during the 2005-2007 housing bubble, prices kept going up cuz people can buy anything with no $$ and just keep flipping it.

Even on homes now in CA, a lot of people don't have earthquake insurance. Their thinking is if it's a total collapse, I can't even pay the deductable so I'll just walk away from my house. If you have a lot of skin and equity, that's probably not a good idea though.
 
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Not sure I agree with all this Tesla = home or Tesla = stock comparisons.

Most people can't/don't want to live in a car, you tend to buy homes less than cars and cars will mostly only go down. Cars are not appreciating assets normally. Even with the housing crash, most folks who bought a while back in CA are still up tons...with probably sub 3% rates.

Still, I think some comments are way off here. Elon is not your friend. Elon doesn't care about you specifically. Elon cares about Elon and Tesla. You're not paid to market for Tesla so don't think there is a special club or you need to do it for Elon and should expect something back. Tesla has always? mostly had pretty bad after sales support I read, but expecting Tesla to do anything is probably never going to happen.

Tesla wants to sell cars. Lots of EVs. They don't care if they had to cut prices to do it. From some of the analyst reports, they plan to make as many as they can and sell them all. Price be damned.

Make sure you're ok with the price since it'll be a supply/demand equation and that's it for Tesla.
There is no crash in Cali...YET
Tesla is a Car Company, that wants to make money etc. I never said anything different
 
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