Tesla seems not to believe in the longevity of their own cars..

[joer00]

My Tesla just hit 50k miles and I thought I rather put the 4k for extended warrant against payment to get a P100D.

So for my 12/31/2014 build 01/2015 delivered fully loaded with NG seats front and back and the + suspension which the original price was 135k Tesla gave me the HIGH trade in value of 65k !!! So more than 50 % loss in a little less than two years.

I have been told it is due to the mileage. Tesla tells us there is almost no maintenance, fever parts to break than with an ICE and the drive train is good for 1 million miles. So I have 5% on my drive train and my car is worth less than 50 % ! Tesla clearly does not believe in their own cars longevity. KBB is at about 75k, a value I somehow expected, low but fair.

I saw the same issue with my old P85. It was sold for an unbelievable low price for that great car. I think there are two issues here which hopefully change for better values in the future:

1.) Tesla needs to establish a track record of RELIABLE cars. Don't just talk about less parts to break and 1 million miles drive train, deliver !

2.) Any garage should be allowed to repair and service a Tesla to overcome the fear of no option and bring repair prices down.

3.) The public needs to understand the difference between an ICE and a Tesla. No ICE has a 8 year unlimited warranty on engine, torque converter and gearbox ! The Tesla has NOT a significant higher value than a BMW or MB from what I see.

I hope the future will look better

 

[jerry33]

Regardless of brand, the higher priced cars depreciate much more initially. Most do it because of mechanical issues. I'd suggest that with Tesla it's because of the new features and computer related items. If you think about how much a three year old computer depreciates, it's far more than a three year old Tesla (as a percentage of original cost). Regardless of how reliable the car is, an older car will never have AP (for example).

 

[sdorn]

That is why I went with a lease. No surprises when it is time to turn it back in. I have owned several BMWs, Porsches, etc. and every time I go to trade in I feel like I got screwed over (which I probably did).

 

[jerry33]

That is why I went with a lease. No surprises when it is time to turn it back in. I have owned several BMWs, Porsches, etc. and every time I go to trade in I feel like I got screwed over (which I probably did).

Trade in value is always wholesale value or less. If you want a good "trade in" sell the car privately.

 

[sdorn]

Trade in value is always wholesale value or less. If you want a good "trade in" sell the car privately.

Too much work.

 

[jerry33]

Too much work.

True, it's more hassle. However, the last car I sold privately got 3.5x what was offered by the dealer.

My problem with leasing is that if you're a business or can write off the expenses, it's great. For an individual there is too much uncertainty. If you suddenly drive much more (new job further away for example) then then you might have a very large bill at the end of the lease term.

 

[thefortunes]

Too much work.

Let me know when you are trading in your next car. I will buy it at trade-in value.

I have never traded in a car and the longest I had one for sale was probably a week.

Last sale was literally one day - probably 3 hours of my time - for $2,000 delta.

 

[brkaus]

Let me know when you are trading in your next car. I will buy it at trade-in value.

I have never traded in a car and the longest I had one for sale was probably a week.

Last sale was literally one day - probably 3 hours of my time - for $2,000 delta.

I'll do trade in price plus $1.99.

 

[Saghost]

Take it to CarMax? Tesla honors CarMax values for non-Tesla trade-ins, so they might for one of their cars, too - and certainly it'll give you a better feel for where the market is.

 

[kort677]

Too much work.

so you want to avoid any extra work but you want the benefits of someone else doing that work?
that's not how it works!
are you aware that the money given to you if you sold the car to tesla will lower your sales taxes on the new car that you're planning to purchase that's about $7k over what they offered you on the trade in, do you think that you could garner $7k more in a private sale?
the value of the car is not about how many miles are left on it, it is determined by the market place and for one thing your older tesla is not as well equipped as a newer one, and that alone makes it less valuable. Also how many people looking to purchase a used car have access to the $70k or so you want? believe me I would take the offer tesla gave you and be happy.

 

[sdorn]

so you want to avoid any extra work but you want the benefits of someone else doing that work?
that's not how it works!
are you aware that the money given to you if you sold the car to tesla will lower your sales taxes on the new car that you're planning to purchase that's about $7k over what they offered you on the trade in, do you think that you could garner $7k more in a private sale?
the value of the car is not about how many miles are left on it, it is determined by the market place and for one thing your older tesla is not as well equipped as a newer one, and that alone makes it less valuable. Also how many people looking to purchase a used car have access to the $70k or so you want? believe me I would take the offer tesla gave you and be happy.

I think you meant to quote the OP.

 

[apacheguy]

How does this compare to a Mercedes S class? Elon has repeatedly stated that Tesla will guarantee the trade in value given comparable mileage.

 

[sdorn]

How does this compare to a Mercedes S class? Elon has repeatedly stated that Tesla will guarantee the trade in value given comparable mileage.

They stopped doing that earlier this year I believe.

 

[brkaus]

They stopped doing that earlier this year I believe.

True. It's stopped. But, it is a good point, the OP may have purchased when it was valid. However, I don't recall the terms. I think it was three years.

 

[SD_Engnr]

My Tesla just hit 50k miles and I thought I rather put the 4k for extended warrant against payment to get a P100D.

So for my 12/31/2014 build 01/2015 delivered fully loaded with NG seats front and back and the + suspension which the original price was 135k Tesla gave me the HIGH trade in value of 65k !!! So more than 50 % loss in a little less than two years.

I have been told it is due to the mileage. Tesla tells us there is almost no maintenance, fever parts to break than with an ICE and the drive train is good for 1 million miles. So I have 5% on my drive train and my car is worth less than 50 % ! Tesla clearly does not believe in their own cars longevity. KBB is at about 75k, a value I somehow expected, low but fair.

As someone that's looking for a used/CPO Model S, I would have to agree that it's the mileage that's hurting the trade-in. P85D or not, there's not many people (including me) who want to pay north of $65k for a car with 50k miles on it. The 2 reasons I won't, is that I would prefer not to own the car outside of warranty, and the assumed "wear and tear" on a vehicle with 50k miles.

 

[animorph]

I keep thinking a high mileage S would be a great deal for the buyer.

 

[apacheguy]

True. It's stopped. But, it is a good point, the OP may have purchased when it was valid. However, I don't recall the terms. I think it was three years.

Yes, up to 3 years from purchase:

Elon Musk will personally guarantee Tesla buyback values

Where was the announcement that Elon stopped the program? I didn't get the memo.

 

[Saghost]

As someone that's looking for a used/CPO Model S, I would have to agree that it's the mileage that's hurting the trade-in. P85D or not, there's not many people (including me) who want to pay north of $65k for a car with 50k miles on it. The 2 reasons I won't, is that I would prefer not to own the car outside of warranty, and the assumed "wear and tear" on a vehicle with 50k miles.

I dunno. Having the warranty, especially when you first get the car, is certainly a good thing.

OTOH, that's an amazing car for the money compared to anything else in the price range, and I tend to expect Teslas to hold their miles a lot better.

If I hadn't decided to wait and pay for the X, there's a good chance I'd take the gamble with something like this, even though I really don't think I need PxxD power.

 

[SD_Engnr]

I dunno. Having the warranty, especially when you first get the car, is certainly a good thing.

OTOH, that's an amazing car for the money compared to anything else in the price range, and I tend to expect Teslas to hold their miles a lot better.

If I hadn't decided to wait and pay for the X, there's a good chance I'd take the gamble with something like this, even though I really don't think I need PxxD power.

Yeah, a P85D with 50k miles at $65k would be a decent deal. However, the OP isn't interested in selling it for that amount, and you certainly won't easily find one for less than $80k.

 

[brkaus]

Yes, up to 3 years from purchase:

Elon Musk will personally guarantee Tesla buyback values

Where was the announcement that Elon stopped the program? I didn't get the memo.

LMGTFY

I believe it was tied up in the accounting practices requirement for how to account for it. Made the sales more like a lease.