Welcome to Tesla Motors Club
Discuss Tesla's Model S, Model 3, Model X, Model Y, Cybertruck, Roadster and More.
Register

Thinking about joining legal action on recent massive price cut

This site may earn commission on affiliate links.
Status
Not open for further replies.
There is no case here. There is no agreement in place where Tesla has a price guarantee except with leasing which wasn't even available when the major price drops happened. You are also going to have to prove damages which even if you've sold already will be a theoretical murky calculation at best especially sine the used market is so weird and inflated right now. At the end of the day you agreed to a price at purchase and drove away.
 
Kind of confused here. $20k? Did you sell your car at significant loss? You expect the value of the car to remain the same after you have driven and used it? This car is not a limited edition / limited production vehicle. I would not expect it retain value over time.

I don't understand OP. What other car hold its value after being on the market for a year?

To make this short the 20k loss comes from buying the car at 70,500. Months later and several price drops you can get a fully built model with FSD (which had I purchased would have added 6k but did not purchase) which would have had a 2018 Performance Model 3 out the door for 76,500. So far easy math. Now go fully build out the same model 2019 without FSD. 57,000. 76-57= 19,000. Forget depreciation out of the lot. This is just a Tesla pricing model. So yeah....I'm out 20k in less than one year.
 
To make this short the 20k loss comes from buying the car at 70,500. Months later and several price drops you can get a fully built model with FSD (which had I purchased would have added 6k but did not purchase) which would have had a 2018 Performance Model 3 out the door for 76,500. So far easy math. Now go fully build out the same model 2019 without FSD. 57,000. 76-57= 19,000. Forget depreciation out of the lot. This is just a Tesla pricing model. So yeah....I'm out 20k in less than one year.

But you've also ignored the $7500 tax credit, so we're really down to $13,875. And you can't just dismiss depreciation. You "lost" at least 10% - maybe more - of the vehicle's value the minute you drove it off the lot. That's another $7,050. So now we're at $6,825. You've also had a year to drive the vehicle - so there's cost avoidance to that as well. What would you have paid to drive another vehicle? Vehicle cost, fuel cost, etc.

The delta is a LOT less than you think it is.
 
I bought a '19 ram truck with all the bells and whistles last October and have only driven it three thousand miles. It is on sale now for $7,000 less and my truck has depreciated $9,000 of 15%. That means I am out $16,000 after driving it only 3,000 miles. That is over $5 per mile. And to top it off it has better tech available now.. Do you think I have a case against them? I mean if I knew I was only going to drive 3,000 miles in a year and they were going to drop the price later on by $7,000 with new tech I might not have bought it. I think they were shady and they owe me big time. Anyone want to be my lawyer here?
 
To make this short the 20k loss comes from buying the car at 70,500. Months later and several price drops you can get a fully built model with FSD (which had I purchased would have added 6k but did not purchase) which would have had a 2018 Performance Model 3 out the door for 76,500. So far easy math. Now go fully build out the same model 2019 without FSD. 57,000. 76-57= 19,000. Forget depreciation out of the lot. This is just a Tesla pricing model. So yeah....I'm out 20k in less than one year.

You're not out anything.
You got exactly what you paid for.
 
To make this short the 20k loss comes from buying the car at 70,500. Months later and several price drops you can get a fully built model with FSD (which had I purchased would have added 6k but did not purchase) which would have had a 2018 Performance Model 3 out the door for 76,500. So far easy math. Now go fully build out the same model 2019 without FSD. 57,000. 76-57= 19,000. Forget depreciation out of the lot. This is just a Tesla pricing model. So yeah....I'm out 20k in less than one year.

I hadn’t heard about all the recent price drops but I put in the same exact performance model and can get it for over 20k less now also. I selected white which at that time was an up charge. With tax and lic I was at about 93k. I got 10k back in rebates. Thank God I paid it off and I’m not financing it too. No, I don’t feel I’m entitled to anything from Tesla. I paid the going rate a year ago. Hey, if I knew it was going to be 20k cheaper a year later, sure, I would have waited. No one to blame here though. It is what it is.
 
With the recent major price reduction, I feel like I'm hit with the penalty for being a few months earlier adopter.

Not sure if I'd line up at the stores overnight or put reservation money.

I bet many of you, the loan balance is higher than how much you can buy the cars right now. Even with the tax credit refunds.

I can't even imagine how recent S or X owners feel right now.

You can easily disregard by saying 'that's how business works' but US is a country with lawsuits with a few MPG difference.

If there's no compensation gesture from Tesla, I'm willing to join a party with legal action. Do any of you know which firms are cooking up those ideas?


Just a quick primer on how purchases work, 4 minutes and 23 seconds in should be of particular interest. You found more value in the car than the money when you made the purchase. That was a choice of your own free will. If you're upset with anyone it should be yourself.
 
People are pretty used to the commoditized market for electronics and other durable goods. Price reductions (not sales or rebates) really don't happen on autos except when they are closed out or year end models. Only Tesla reduces prices like this and the resale value of a car, consumers are not used to this and it will shift purchasing behavior on such large capital purchases. One can only wonder if Jan 1 2020 that a M3 price will be less than a 2019 even with the tax credits gone. Meaning, you can get a 2020 for less than a 2019 even with the tax credit on the 2019. We shall see but I wold not be surprised if this happens.
 
  • Like
Reactions: ElectricGhost
People are pretty used to the commoditized market for electronics and other durable goods. Price reductions (not sales or rebates) really don't happen on autos except when they are closed out or year end models. Only Tesla reduces prices like this and the resale value of a car, consumers are not used to this and it will shift purchasing behavior on such large capital purchases. One can only wonder if Jan 1 2020 that a M3 price will be less than a 2019 even with the tax credits gone. Meaning, you can get a 2020 for less than a 2019 even with the tax credit on the 2019. We shall see but I wold not be surprised if this happens.

Price reductions doesn't happen because true price is abstracted through sales/incentives. Ever heard of a factory rebate? it's the same thing as what Tesla is doing except they're being transparent about it. Its killing their reputation. People get upset about transparency.....
 
To make this short the 20k loss comes from buying the car at 70,500. Months later and several price drops you can get a fully built model with FSD (which had I purchased would have added 6k but did not purchase) which would have had a 2018 Performance Model 3 out the door for 76,500. So far easy math. Now go fully build out the same model 2019 without FSD. 57,000. 76-57= 19,000. Forget depreciation out of the lot. This is just a Tesla pricing model. So yeah....I'm out 20k in less than one year.
And I got a P85+ for 133k... it was OK for me when I got it, it's OK now.
 
God, I love this zombie thread. You could sit your adolescent child down at a desk and have them read it all. They might stand up 2 hours later a more worldly and better person. It’s a sort of book of everything: free market (with some incentives thrown in), the idea of agency and free will, logical fallacies, personal finance. Thanks to everyone, sensible and not-so-sensible people, satisfied owners, aggrieved owners, Tesla fans and trolls.
 
Status
Not open for further replies.