The 2 Best Days In a Plaid Owner’s Life

[Jayskywalker21]

As long as the OP feels better, who cares? You don't have to look very far to find horror stories about Mercedes less than great reliability and maintenance costs (don't ask me how I know), but I am sure Teslas can be a PITA IF you have significant issues.

No one necessarily cares I just find it funny how he justified getting blitzed

 

[CapeOne]

I do think it's unreasonable for people to complain. They knew they were going to lose money when they bought it.

I really don't think this is about them not knowing they’d lose money, it's about the amount being (much) more than they expected and blaming at least part of it on Tesla's significant price cuts last year.

That's how new cars work.

Yes, and it can also be how used cars work as resales of used Teslas purchased were impacted by the large new car price cuts too.

You final point is they key. Just like homes, the market goes up... the market goes down. It's all relative. Your home is worth more in an up market but you'll pay more for the new home you replace it with. It's all relative. Everyone knows this. Nobody complains. But with cars, somehow that goes out the window.

People complain about price drops for more than just cars, and companies sometimes have to/choose to react to appease upset customers.

 

[Ostrichsak]

I really don't think this is about them not knowing they’d lose money, it's about the amount being (much) more than they expected and blaming at least part of it on Tesla's significant price cuts last year.





Yes, and it can also be how used cars work as resales of used Teslas purchased were impacted by the large new car price cuts too.





People complain about price drops for more than just cars, and companies sometimes have to/choose to react to appease upset customers.

The solution isn't to artificially fain being "triggered" in order to take advantage of a company who's trying not to seem like they're taking advantage of people by taking advantage of them in return.

Face it, nobody is out on the streets over this depreciation situation (nor is it unique in any way as compared to any other brand new car other than small differences in degree of depreciation between various types of vehicles) but instead senses an opportunity to get something for free. Getting something for "free" doesn't impact the company's bottom line because they're just going to spread that over the cost for the next batch that gets sold effectively meaning that everybody else who buys a Tesla is shouldering that loss.

If the difference of $5,000 in depreciation the first year is going to impact your financial picture that greatly, you shouldn't be buying a mew six-figure car of any brand in the first place. You can't afford it. Nobody else should be asked to shoulder the burden of something you made a mistake on in the first place. It's as simple as that.

 

[FASTTTT]

I forgot to add… Elon’s Musk smell of the mold growing in the HEPA assembly of the Plaid has been replaced with a fragrance that the Mercedes injects into the air that smells like “Bamboo Mood” whatever that is. It does beat the gym sock smell of my Plaid.

Just like a boat.…..the day I bought my Plaid, and the day…..well you know how it goes.

I sold my Plaid to Carvana. Wrote them a check for $27,000 because I paid $128k for it new just over two years ago, and now it’s only worth $53,000. Tesla depreciation.

I LOVED the Plaid, when it wasn’t in the shop, for many reasons. The performance, the styling, the minimalism and sleeper look, the buying process.

I couldn’t take another day of it being in the shop. Wondering if there would be a loaner available. Wondering if it will sit untouched in their lot for weeks waiting for parts. I couldn’t spend another week wondering when and which tire would have the tread separate next, hoping it would happen at home and not when it’s parked at the airport. Oh the week long wait for a replacement tire that is never in stock for that size. That’s good stuff.

N2itive rear arms were going to solve the tire issue, but every time I had to bring my car in for service (which was often), I had to pay $500 to have the arms removed or Tesla wouldn’t touch the car. Then I had to pay $500 to have the arms put back on after Tesla was done not really fixing the problem the car was in the shop for.

The jarring suspension that kept having links break or loosen. The placebo Sport and Comfort modes. The horn. Love when someone about side swipes me while they are texting and I furiously smack the airbag hoping they hear it. The center horn is coming. Let’s all check the part number of our recalled airbags to see if it has the coveted switch under it that will never come. At least there aren’t any of those pesky turn signal stalks that only get In the way when you are trying to make a turn. Roundabouts turn into IQ tests while you try to teach your brain to determine which arrow to press based on how many revolutions you have made with the yoke. Oh the yoke. I had them replace that for free so at least I could parallel park or do a three-point U-turn without running into a curb.

I will miss the one attribute Tesla did right. The superchargers. Well, starting this year my new Mercedes will be charging at those same Superchargers so I guess I won’t be missing it for long.

I‘m done with the Elon lies of Steam coming for my Plaid. 200mph. Rear seat gaming, movies, etc.

I’m done with Tesla.

That felt good. Therapeutic. Putting this on the Tesla forum should be fun. << GRENADE!! >>

I’ll go heat up some popcorn. View attachment 1014250

I'm sorry for your experience. I hope you have great success with the Merc.

 

[Gloff]

On a balance sheet, the lost money on depreciation is the same... just a question of whether you're paying it up front or when you sell/trade the thing in. It's just easier for most to do it on the front (assuming they have it) because their emotions override the actual cost due to wanting the new shiny thing.

Leasing a car, any car, is NEVER a good financial decision for the "buyer" as there are far too many nuances within the #'s presented on the surface for the typical "buyer" to fully grasp. This is exactly why dealerships push people towards them by convincing them they know something that nobody else knows and are smarter for doing it.

Summary: If you truly care about building wealth you won't buy new vehicles and you'll NEVER finance a depreciation asset like a car, truck, motorcycle, RV, boat, etc. under any label. There's going to be some sensitive people triggered by my posts. Lots of people with delicate psyche can't accept that they were taken advantage of so they try to discredit the messenger in an effort to make themselves feel better about their purchase. They're wrong. I don't speak anything but the truth though and it's not opinion either. The math supports it all if you understand the numbers. Math isn't opinion based.

Leasing is not always a great idea, but its far from "NEVER" a good idea. Especially on a depreciating asset.

Sure, buying a fully depreciated, quality, reliable used car is the financially prudent thing to do. That's no way to live life though, lots of people want new cars for lots of reasons. Used vehicles are not without risk, some of that risk is not strictly monetary on the surface. Some people just don't want to deal with repairs, maintenance, and risk associated with buying a well used vehicle, so they buy new. There are bad leases for sure, but some cars should be leased to hedge against the future valuations (uh, EVs and the rapidly changing EV landscape, maybe?) You can build wealth and still lease cars, in fact, lots of smart, financially savvy, people lease business vehicles for the ability to write off the entire payment as opposed to just the depreciation.

In fact, paying cash can absolutely be a terrible waste of money on buying a vehicle. You should balance the cost of the money against what that money can do for you in an investment vehicle. Rates being what they are right now, you're better off paying cash for used, but there was certainly a point in time that 2.9% on a used vehicle was worth paying so I can invest the cash I would have spent.

If we're talking strictly financially prudent things to do:
Never take your car to a mechanic, they make profit off their time and they charge you more than the part costs them! Learn to repair the vehicle yourself!
Clip every coupon you find, and make sure you track all your regular purchases and their prices so you know when the bottom is, then buy in bulk for non-perishables.
Never borrow money, it costs you interest!
Don't use credit cards, and ask for a cash discount from every business you shop with.

Life is a balance, full of compromises and conveniences. I'm sure you have a hobby, or something you enjoy that's not financially prudent for you. I bet you maximize your value when you do buy or spend on that hobby. For some people that hobby/interest is automobiles. Cars are not just A to B transportation for those individuals.

 

[Unclepaul]

Seems like OP just printed up a list of previous forum complaints and used them to justify his desire to get out of his Tesla into a Mercedes. IF he was getting out of a lease early, on an expensive premium high performance sports sedan, then his experience is typical of any manufacturer of those types of cars.
This is the first time I have ever heard of someone complaining about depreciation, then buying (or leasing) a Mercedes AMG. Doctor friend of mine used to say he could actually hear his Mercedes AMG depreciating when sitting in the garage

The obviously wealthy OP, trying to become a victim came across poorly. Nobody is going to feel sorry for an entitled guy selling one high performance expensive car to get into another, even more expensive, but much less performance car.

 

[Ostrichsak]

Leasing is not always a great idea, but its far from "NEVER" a good idea. Especially on a depreciating asset.

Sure, buying a fully depreciated, quality, reliable used car is the financially prudent thing to do. That's no way to live life though, lots of people want new cars for lots of reasons. Used vehicles are not without risk, some of that risk is not strictly monetary on the surface. Some people just don't want to deal with repairs, maintenance, and risk associated with buying a well used vehicle, so they buy new. There are bad leases for sure, but some cars should be leased to hedge against the future valuations (uh, EVs and the rapidly changing EV landscape, maybe?) You can build wealth and still lease cars, in fact, lots of smart, financially savvy, people lease business vehicles for the ability to write off the entire payment as opposed to just the depreciation.

In fact, paying cash can absolutely be a terrible waste of money on buying a vehicle. You should balance the cost of the money against what that money can do for you in an investment vehicle. Rates being what they are right now, you're better off paying cash for used, but there was certainly a point in time that 2.9% on a used vehicle was worth paying so I can invest the cash I would have spent.

If we're talking strictly financially prudent things to do:
Never take your car to a mechanic, they make profit off their time and they charge you more than the part costs them! Learn to repair the vehicle yourself!
Clip every coupon you find, and make sure you track all your regular purchases and their prices so you know when the bottom is, then buy in bulk for non-perishables.
Never borrow money, it costs you interest!
Don't use credit cards, and ask for a cash discount from every business you shop with.

Life is a balance, full of compromises and conveniences. I'm sure you have a hobby, or something you enjoy that's not financially prudent for you. I bet you maximize your value when you do buy or spend on that hobby. For some people that hobby/interest is automobiles. Cars are not just A to B transportation for those individuals.

Aaaand here he is folks... the guy who always comes along praising the financial benefits of leasing... y'know.. if you're smart enough.

 

[Evee]

Aaaand here he is folks... the guy who always comes along praising the financial benefits of leasing... y'know.. if you're smart enough.

Anddddd here he is folks. The one that’s smarter than anyone on this forum.

 

[karlos22]

Can’t speak of a plaid, but my model 3 has been rock solid apart from some teething issues (rattles and touch screen but all covered under warranty). Of course it is a Tesla and some stuff is just stupid, but it’s part of the ownership experience! If we need a second car it will be another Tesla.

Model S and X may be different - I did look at used model S but decided against it, however they were early gen ones.

 

[1windy]

Aaaand here he is folks... the guy who always comes along praising the financial benefits of leasing... y'know.. if you're smart enough.

Gotta say I like your posts. But I'm exhausted after reading all of your posts here.

 

[EXOTIC1]

That's too bad. My Plaid has never been to service. 30,000+ miles.

35K …… and 1 visit. My P100D had almost 50K when sold and maybe 3 visits. I was trying to buy a model S plaid for someone else. We had a buy price for 64K with under 25,000 miles and had no offers this was just last week.Take it for what it’s worth. Congrats on the Merc however, just for reference my neighbor had a EQS for all of six months and he’s a diehard Benz guy. He said it was an absolute heap. He ditched the Benz for a lucid air and thinks that it’s the best car he’s ever owned.

 

[emailforbrett]

Mine sold for $53,588. So I could have made an extra $10k-$15k by selling it privately, which wasn’t an option. That seems about right then what Carvana paid me. Even if a little on the low end, nobody else was willing to purchase it outside of private sale. That‘s the point you fail to see. Further, Vroom (which would be comparable to Carvana) offered me $40,000 MORE just under a year ago! So no matter how you frame it, the damn thing plummeted in value over the past 12 months. Same reason why Hertz has to unload their M3’s already. The depreciation is just too great on Teslas. Fortunately I recovered with the Mercedes lease being way below market.

Again, if you are reading this and are driving a few year old Model 3/Y, this whole thread is rather irrelevant to you. The depreciation is not an overwhelming concern for you, and honestly was not to me either. I can eat the loss. Lesson learned that when you combine the aforementioned issues with the car, plus the depreciation, I know never to buy another premium model Tesla again. Maybe if one of my kids wanted a Model 3 when they get their license, I’d do it. I LOVED my M3P! Fun as hell little basic car!

Honestly, I really didn’t know what I was missing until I got away from Tesla and test drove the AMG EQS and the Audi RS e-Tron. I am so glad I did, and can never go back to a Tesla for my personal car again.

The Taycan wasn’t an option as I don’t want to own the car and they just do not lease well. I actually just leased my wife a Macan yesterday and the lease is terrible, but it’s on an $80k car, not a $200k+ car. 0 down, $1,100 a month for 39 months with 12k miles. Good for a Macan lease these days, but way too high as compared to MSRP if you ask me. She likes it, so whatever.

And WOW! Up to 6 pages so far! I knew this would generate some rather entertaining commentary, but I never expected this! Tesla folks are passionate about their cars! I was, too! Until I drove another highish-end electric car and discovered what I was missing, and what I had been putting up with by still owning my Tesla!

 

[Edwin Jacques]

Just like a boat.…..the day I bought my Plaid, and the day…..well you know how it goes.

I sold my Plaid to Carvana. Wrote them a check for $27,000 because I paid $128k for it new just over two years ago, and now it’s only worth $53,000. Tesla depreciation.

I LOVED the Plaid, when it wasn’t in the shop, for many reasons. The performance, the styling, the minimalism and sleeper look, the buying process.

I couldn’t take another day of it being in the shop. Wondering if there would be a loaner available. Wondering if it will sit untouched in their lot for weeks waiting for parts. I couldn’t spend another week wondering when and which tire would have the tread separate next, hoping it would happen at home and not when it’s parked at the airport. Oh the week long wait for a replacement tire that is never in stock for that size. That’s good stuff.

N2itive rear arms were going to solve the tire issue, but every time I had to bring my car in for service (which was often), I had to pay $500 to have the arms removed or Tesla wouldn’t touch the car. Then I had to pay $500 to have the arms put back on after Tesla was done not really fixing the problem the car was in the shop for.

The jarring suspension that kept having links break or loosen. The placebo Sport and Comfort modes. The horn. Love when someone about side swipes me while they are texting and I furiously smack the airbag hoping they hear it. The center horn is coming. Let’s all check the part number of our recalled airbags to see if it has the coveted switch under it that will never come. At least there aren’t any of those pesky turn signal stalks that only get In the way when you are trying to make a turn. Roundabouts turn into IQ tests while you try to teach your brain to determine which arrow to press based on how many revolutions you have made with the yoke. Oh the yoke. I had them replace that for free so at least I could parallel park or do a three-point U-turn without running into a curb.

I will miss the one attribute Tesla did right. The superchargers. Well, starting this year my new Mercedes will be charging at those same Superchargers so I guess I won’t be missing it for long.

I‘m done with the Elon lies of Steam coming for my Plaid. 200mph. Rear seat gaming, movies, etc.

I’m done with Tesla.

That felt good. Therapeutic. Putting this on the Tesla forum should be fun. << GRENADE!! >>

I’ll go heat up some popcorn.

Did most of these problems occur after your warranty expired?

 

[Jayskywalker21]

Mine sold for $53,588. So I could have made an extra $10k-$15k by selling it privately, which wasn’t an option. That seems about right then what Carvana paid me. Even if a little on the low end, nobody else was willing to purchase it outside of private sale. That‘s the point you fail to see. Further, Vroom (which would be comparable to Carvana) offered me $40,000 MORE just under a year ago! So no matter how you frame it, the damn thing plummeted in value over the past 12 months. Same reason why Hertz has to unload their M3’s already. The depreciation is just too great on Teslas. Fortunately I recovered with the Mercedes lease being way below market.

Again, if you are reading this and are driving a few year old Model 3/Y, this whole thread is rather irrelevant to you. The depreciation is not an overwhelming concern for you, and honestly was not to me either. I can eat the loss. Lesson learned that when you combine the aforementioned issues with the car, plus the depreciation, I know never to buy another premium model Tesla again. Maybe if one of my kids wanted a Model 3 when they get their license, I’d do it. I LOVED my M3P! Fun as hell little basic car!

Honestly, I really didn’t know what I was missing until I got away from Tesla and test drove the AMG EQS and the Audi RS e-Tron. I am so glad I did, and can never go back to a Tesla for my personal car again.

The Taycan wasn’t an option as I don’t want to own the car and they just do not lease well. I actually just leased my wife a Macan yesterday and the lease is terrible, but it’s on an $80k car, not a $200k+ car. 0 down, $1,100 a month for 39 months with 12k miles. Good for a Macan lease these days, but way too high as compared to MSRP if you ask me. She likes it, so whatever.

And WOW! Up to 6 pages so far! I knew this would generate some rather entertaining commentary, but I never expected this! Tesla folks are passionate about their cars! I was, too! Until I drove another highish-end electric car and discovered what I was missing, and what I had been putting up with by still owning my Tesla!

None of this was about us being passionate about our cars. This is all about you. Also 1100 a month for 39 months... so a 46% residual and you're paying ALL of it I would assume 0 negotiating was done. Man you need to take yourself to leasehackr at least.

 

[NeuroRad]

I bought my plaid purely for performance and the fact we have a wall charger in the garage. At any price Tesla has ever charged the car has been a tremendous value for the performance. It’s no where near a luxury vehicle. The ergonomics from the driver seat are pretty fantastic for me. The car itself has a pretty timeless design and I hope they keep evolving it.

 

[byeLT4]

The car had 21,000 miles and was in perfect condition.......

Maybe mine was a lemon.

I get what you mean, but, I find this kinda funny.

 

[PABresler]

I don't understand the point of a Plaid for an average driver? My 2020 S for which I paid $55000 with 25000 miles on it has more power than I ever use.

 

[emailforbrett]

None of this was about us being passionate about our cars. This is all about you. Also 1100 a month for 39 months... so a 46% residual and you're paying ALL of it I would assume 0 negotiating was done. Man you need to take yourself to leasehackr at least.

You might want to read up on the mechanics of leasing. Leasehackr is a great place for you to start. The RV is 62%.

At the end of last year, you could pick up a 2023 for a great deal. They were very motivated to move the outgoing year. The 2024s, not so much.

SIGNED! DEAL | LEASEHACKR

Check out this deal on SIGNED!

signed.leasehackr.com

 

[Jayskywalker21]

You might want to read up on the mechanics of leasing. Leasehackr is a great place for you to start. The RV is 62%.

At the end of last year, you could pick up a 2023 for a great deal. They were very motivated to move the outgoing year. The 2024s, not so much.

SIGNED! DEAL | LEASEHACKR

Check out this deal on SIGNED!

signed.leasehackr.com

Oh sorry you yet again omitted information like that you got a 12% discount. I thought it was also $0 down not $2000. You on here lying? You really aren’t as clever as you think you are , plus that money factor is ridiculous I guess that’s why Porsche leases are so much. You’ll gladly pay it though money is an afterthought for you lmao

 

[canasion35]

It's crazy what some people think it a good deal, right? Zero down is only the part of the problem as even that is a band-aid for trying to mask a rapidly depreciating asset. Rather than people asking themselves what the TRUE cost of ownership of a new car is (depreciating and interest included) they simply think that putting more money down (aka paying more of the depreciation on the front end) is a better way.

On a balance sheet, the lost money on depreciation is the same... just a question of whether you're paying it up front or when you sell/trade the thing in. It's just easier for most to do it on the front (assuming they have it) because their emotions override the actual cost due to wanting the new shiny thing.

Leasing a car, any car, is NEVER a good financial decision for the "buyer" as there are far too many nuances within the #'s presented on the surface for the typical "buyer" to fully grasp. This is exactly why dealerships push people towards them by convincing them they know something that nobody else knows and are smarter for doing it.

As an example, if you negotiate a lease properly (and I'm not suggesting ANYONE lease, mind you) you should NEVER want to buy the vehicle at the end. Ever. If there's any value at all at the end of the lease, you negotiated the lease poorly for you. You agreed to too low of a residual value which means you just paid more monthly during the lease term. Your goal during a lease negotiation is to get the dealership to agree to the car being worth nearly the same price you bought it for three years earlier. They won't.

Even if they did they'd make it up with the cost-of-money factors on the back-end. It's all a shell game. This is why their primary goal is to get you talking monthly payment because there's so many ways they can change the #'s to make more money versus just the cash price. This is also why many dealerships now have a HIGHER cash price than financed price. They're not even trying to disguise it anymore and yet people still don't get it.

It's bad enough that most buyers don't understand that the dealers make more money on finance (summary: you agree to a certain percentage in writing and they shop this deal to dozens of banks and take the lowest bidder to create a delta that equals thousands if not tens of thousands of profit to them that you didn't even know about) then they do the sale of the car. With leasing, there's just far more opportunities behind the scenes to fool the buyer.

The monthly payment is lower though and suddenly the buyer can "afford" more car (if you could, you'd buy it outright and wouldn't need to finance it in the first place) and they hear how smart leases are so it all makes sense. The dealership invents new ways to take more money from the buyer all while making them think they're the smart one.

If you want to lease, I truly don't care. It's your money and you can spend it however you want. Just don't act like you're smarter by doing it because it makes you look like a complete moron rather than just saying "I wanted to lease a car and I don't care that it will ultimately cost me dramatically more" because that's the truth.

Source: in a past life, I worked in sales, fleet, sales management, finance and upper management for dealerships... in that order. The most money I made per hour worked in that list was finance. In a purely performance-driver industry, do you think they pay more money to those who aren't responsible for bringing in the most money? I've seen behind the curtain and it's pretty crazy how the machine is built to bilk people out of their money. Lots of it too.

Summary: If you truly care about building wealth you won't buy new vehicles and you'll NEVER finance a depreciation asset like a car, truck, motorcycle, RV, boat, etc. under any label. There's going to be some sensitive people triggered by my posts. Lots of people with delicate psyche can't accept that they were taken advantage of so they try to discredit the messenger in an effort to make themselves feel better about their purchase. They're wrong. I don't speak anything but the truth though and it's not opinion either. The math supports it all if you understand the numbers. Math isn't opinion based.

This post should be stickied for anyone looking to lease vs buy. Some may feel this message is aimed at them, but it’s straight facts (nay sayers are just on copium) and you’re looking out for folks on leasing, financing, and outright purchasing.

I appreciate the intent behind the responses keeping it real and looking out for forum members with sound financial advise when it comes to those above three options when acquiring a car. The truth is always in the math, without fail.