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Tesla Sold Me A Wrecked M3 As New

You don’t have to pay the tax upfront, but the tax is on the full price of the vehicle not portion based on the lease, the dollar amount is included in the lease payment calculation.
Did some research and you are right. After 3 years I would only owe 30k and it still be worth 55k roughly. That is 25k in equity. Over those 3 years it is $7,200 more than leasing so I would come out ahead roughly $18k. I just have to put my wife's frame of mind that it is a savings account essentially. lol
 
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jjrandorin

Moderator, Model 3, Tesla Energy Forums
Moderator
Nov 28, 2018
16,678
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Riverside Co. CA
Did some research and you are right. After 3 years I would only owe 30k and it still be worth 55k roughly. That is 25k in equity. Over those 3 years it is $7,200 more than leasing so I would come out ahead roughly $18k. I just have to put my wife's frame of mind that it is a savings account essentially. lol

I get what you are saying, but in general, I would not expect the used vehicle values we have right now to exist in this same manner 3 years from now. Tesla model 3 values have done ok, but "this" market from the past year or so is bonkers and no one should forecast it to continue exactly like this when they are trying to do things like figure car residual values.
 
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Yeah what will happen is your "profit" will be unrealized until you sell again. In that respect its a gamble but you also scrubbed a years worth of mileage off the car too so its still worth more than had you had the old car. I am at a similar position in that I was paid out for my wrecked car at a value of around 1000 more than I paid new plus tax. A new one is roughly 8k more than I paid but they scrubbed 45k miles and 3 years off the car so Ill consider it a win. After the payout Ill be putting enough down to pay off the car in about 3 years if I keep paying the same as my old note. I'm hoping in the end I have a 2022 paid off in 2025 with only about 40k miles on it. At that point Ill probably enjoy the no car payment life or if prices are still insane YOLO my way into a plaid S.
 
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theocguy

M3RWD - MSM/BLK/OD:03/22/Picked up 10/31/2022
Feb 11, 2022
349
113
Southern CA
I think I would take the 3, and as well as order a Y. As if they have a way to order a 3LR for you with last year price? may be you can get the tax credit if you take delivery next year?

anyway, i would take the 3, order a Y at the same time, flip the 3 and pocket the $. The market should still be good for used car within next 12 mos?
 
Gonna play devil's advocate here... if the Tesla rep has made you this offer, my first instinct is that they know they screwed the pooch big time on this, and could really be on the hook for a whole lot more than just replacing your car at the same price you paid. After all the stories I've read here about how inflexible Tesla is when it comes to orders and money --- takes an act of God to get your $250 back if you cancel and in some cases they force the contract --- I'm more than a little surprised they made the offer they did. So, my naturally suspicious nature, plus my 70 year old instincts dealing with people who screwed up trying to make things right, says a Saul Goodman-type lawyer would have you in a new Plaid with a lifetime of free charging, plus he'd get a car for himself, nothing out of pocket for you.

Having said that... I'd take the deal. Why? Because it gets you where you want and need to be, albeit with having to go through a few buying and selling gymnastics. I get the "teach them a lesson" part of why you go after bad behavior, but I'm not thinking you'd make much of an impact in this case, mostly because I'd guess this is more of a one-off screw up than a regular Tesla selling strategy. What advantage would they gain in the market by routinely selling previously wrecked cars? This isn't Joe's Used Car Lot we're talking about.

Buy the M3 at that incredibly attractive $40k price. Flip it as brand new, take the dough and buy your Model Y. Tesla ducks a lawsuit, you --- more importantly --- duck however long it takes to settle that suit, plus you get what you should have gotten in the first place. Life's too short. Trust me on that one.
 

TwoK4drSi

Active Member
Apr 3, 2019
1,645
1,767
DFW
OP is in Texas, there’s no sales tax on cars there. You just pay it once as a kid and it’s good for the rest of your life. After that initial lifetime payment, all you have to do is pay tax on the incremental value if your new car is worth more than the old one.

In OP’s case this would be about $0
Wait what? Of course we have sales tax on cars which is 6.25%
 

Hiline

Member
Supporting Member
Apr 16, 2022
662
915
Los Angeles
Gonna play devil's advocate here... if the Tesla rep has made you this offer, my first instinct is that they know they screwed the pooch big time on this, and could really be on the hook for a whole lot more than just replacing your car at the same price you paid. After all the stories I've read here about how inflexible Tesla is when it comes to orders and money --- takes an act of God to get your $250 back if you cancel and in some cases they force the contract --- I'm more than a little surprised they made the offer they did. So, my naturally suspicious nature, plus my 70 year old instincts dealing with people who screwed up trying to make things right, says a Saul Goodman-type lawyer would have you in a new Plaid with a lifetime of free charging, plus he'd get a car for himself, nothing out of pocket for you.

Having said that... I'd take the deal. Why? Because it gets you where you want and need to be, albeit with having to go through a few buying and selling gymnastics. I get the "teach them a lesson" part of why you go after bad behavior, but I'm not thinking you'd make much of an impact in this case, mostly because I'd guess this is more of a one-off screw up than a regular Tesla selling strategy. What advantage would they gain in the market by routinely selling previously wrecked cars? This isn't Joe's Used Car Lot we're talking about.

Buy the M3 at that incredibly attractive $40k price. Flip it as brand new, take the dough and buy your Model Y. Tesla ducks a lawsuit, you --- more importantly --- duck however long it takes to settle that suit, plus you get what you should have gotten in the first place. Life's too short. Trust me on that one.
I agree with you on everything you wrote. Unless the OP really wants to deal with the logistics of a lawsuit which may drag on for years, he should take the offer.

OP: how did you not have to sign the damage disclosure form?
 

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