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Thinking about joining legal action on recent massive price cut
- Thread starter canyondrive
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- Model 3 price reduced
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Then I suppose that I am kinda sorta an early adopter. Didn’t want to make it sound like it is ho hum. Every day that I drive it, I can’t believe that it’s mine.
Wrong!
You can't buy a car unless somebody builds that car. The government decided it wanted to incentivize electric cars. But it didn't want to just give car makers cash, it wanted to make sure that the incentives put more EVs on the road, so the money goes to the buyers. But the real benefit goes to the car makers.
A totally separate issue is that in a market economy, every seller can (and probably should) charge what the market will bear. The tax incentive allowed EV makers to charge more. With the incentive reduced, the market will still only bear the same after-incentive price, so the MSRP has to go down.
I bought my car early, paid top dollar, got the tax break, got an amazing car that was worth every penny I paid, and I got to drive it sooner than people who waited, or who were further down on the waiting list.
OP got 303 and counting disagrees on this thread
Hasn't been seen in 20 weeks haha
Hasn't been seen in 20 weeks haha
FlatSix911
Porsche 918 Hybrid
Let's sue because the free enterprise system exists and companies are now allowed to change prices. ICE car manufacturers change prices all the time but no one sues them.
I guess it's wrong for a company to start selling a product, realize reduced costs over time as they streamline production, get better prices for raw materials because they are getting quantity price breaks and their fixed costs are spread over more products being sold. Businesses do this all the time and they aren't sued. And forget the fact that there is an economic principal that exists - the law of supply and demand.
People need to get brains not lawyers that will take any case without merit.
I guess it's wrong for a company to start selling a product, realize reduced costs over time as they streamline production, get better prices for raw materials because they are getting quantity price breaks and their fixed costs are spread over more products being sold. Businesses do this all the time and they aren't sued. And forget the fact that there is an economic principal that exists - the law of supply and demand.
People need to get brains not lawyers that will take any case without merit.
We should do another version of that chart with the max tax credit allowed. And AP adjustment since they bundled it in.
As for this thread I cannot believe it is still going. Is anyone actually talking about a 'lawsuit' anymore ?
As for this thread I cannot believe it is still going. Is anyone actually talking about a 'lawsuit' anymore ?
Talking? Of course. A lot of talking. Plus the hemming. And don’t forget the hawing.
This is a consequence of Tesla not allowing haggling over the price. Normally people expect to pay way less than list price and if the list price changes they don't really care. But with Tesla you know for a fact that everyone who bought after you paid less.
No, that is NOT how subsidies work at all. Who receives the benefit depends on how much buyers want the vehicles. This is called price elasticity of demand.
Guess what? All of the whiney early adopters who cry about price changes desperately wanted a Tesla so that means in THIS case the benefit did mostly go to Tesla.
Lots of derping too. One of the dumbest things I've seen on the internet in quite a while.
There is always room to haggle/price adjustments. Other car dealers also said no haggling eg: Lexus and scion for a while . But if u do your research u will see there are price drops all the time. I was offered a performance 3 months ago for 52g with autopilot just depends how desperate they are to sell.
Not accurate. I ordered my P3D+ at launch and paid 71,500. (and then got 5k back) You also need to map the tax credits there to have a real picture. Actually my update doesn't even describe it properly. My price included premium paint and interior so it wasn't the "base price". would have been under 70.
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sperkin
Active Member
No, there is a gap of how much you owe vs what the car is worth. The gap is wide. Say if you wrecked your car or someone hit you, and the car is totaled. Insurance will pay you $38k but you owe $45k. You now need GAP insurance to cover what you owe vs what the car is worth.
Check if your insurance. Insurance always low balls so they will pay you at current values with is like $7-10k lower that what you bought the car for.
Daniel in SD
(supervised)
The original price was actually $78k but no one paid that price because it was lowered before any were delivered.
jelloslug
Active Member
Are you going to complain about the tax credits that you got that you can't get now?
jelloslug
Active Member
golfpilot
Member
If I waited for the price cut to what it is now, I would have spent another 20-30k on my airplane hauling myself around because I hated driving. I'm better off with the higher price I paid last August than I would be if I waited and paid less...
Msjulie
Active Member
Well... maybe that's based on insurance companies and age of the car? Condition of a car at 'loss' time sure does make a difference in the valuation though never as much as anyone would like...
Not supporting the lawsuit bit though..
DB-Cooper
Member
I struggle with the tax credit issue as it wasn't really Tesla's money/margin to begin with. It does soften the blow, but a lot of us bought cars in a hurry to get in before the tax credits. In fact, I remember that December 31st push, I swear Tesla's marketing was like, "Get one now, they'll never be cheaper." At least that was the feeling from the tweets and marketing push. Then on Jan 2. they basically lower the price to abosrb the tax credits. The issue that has, is it lower the value of the cars already purchased by that much. Subsequent price drops have continued to do so and have now reached the point of lunacy (great for new buyers, but definitely a sour taste for those 2018 buyers).
Many cars reduce price via rebates to stimulate sales, but rarely does the best selling car and a car so desirable see huge slashes. When I made the impulse decision to purchase the Model 3 Performance late last year, it was done based on Tesla having a reputation for holding value fairly well, the car being highly desirable and the tax credits. Come to find out, this is definitely the worst car I've ever bought in terms of resale value, and I've bought some real doozies before. On the contrary, I've bought many high-end S/RS Audis and M BMWs and have seen them more or less hold their value and BMW outside of the occasional holiday $1,000 incentive, they hold their line on pricing of those "special" models.
Adding insult to injury is the repackaging of the Autopilot stuff. My $5K EAP is effectively deprecated and will on the resale market be valued at base level AP which is included in newer cars. With no pathway to reduced cost FSD (outside of the early sale which you had to be on the forums or stalking Elon's twitter feed to know about), there is effectively no monetary value in EAP. At least I didn't buy white as that also would be a kick in the nuts.
All in, I love the car, but I'm not a fan of the volatility of pricing, moving goals posts and the shoot-from-hip actions of the leader. I'm also less enthusiastic about the unsorted self-driving tech that just doesn't work well enough to be anything more than a fun geek's science fair project.
The $7,500 tax credit definitely helped me not take a total bath, but I paid $72,700 ($65,200 with credits) for a car that is today $58,190 (granted I have a couple extra features from EAP that aren't in AP). Fundamentally though, when I bought the car, I felt the tax credits to be from the government and I bought ahead of when I really needed/wanted a new car because of it. So while I'm about $7K, it really is closer to $14K because when I bought, I felt the tax credits were not going to be absorbed instantly. Fortunately, I paid cash, but if I was receiving a monthly statement on a loan balance and see principle balances far exceeding what new ones are trading for now, I'd get a monthly heartburn reminder.
AlanSubie4Life
Efficiency Obsessed Member
The OP who generated this graph also knows he is missing some information (he's (@GenSao ) asked for clarification). Specifically, this graph does not capture the P3D Stealth and P3D+ price differential, and the funny business that occurred around FUSC and the various price drops and elimination of the P3D Stealth in late October 2018.
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