Torn between Model 3 options (New or 2020 Used performance?)

[EloquentSyntax]

Hey everyone,

So I'm currently coming from an Audi A5, term ends soon, and I've of course been drooling over the Model 3 as most here have ;-) Planning to put about $15k down, 72 mth finance since interest rates are so low, hoping to get rates at 2.15% like others have been saying.

I've pretty torn on the following options, was hoping I could get some perspectives here:

• Option 1: Brand new 2021 LR (Red + White Seats) - $69k + taxes and fees - ~$860/mth
  • Pros: Get all the upgrades of 2021 model, longest range
  • Cons: Stock rims suck. Probably spend $2k on summer tires/rims? Lacks the features of a performance (rims, lower stance, etc).
• Option 2: Brand new 2021 Performance (Red + White Seats) $79k + taxes and fees ~$1000/mth
  • Pros: Everything I want
    
  • Cons: Price is harder to justify given that a 1 year old one can be had for 15k less...although not my fav color. Will also need to buy winter tires/rims (prolly another $2k?)
• Option 3: Used 2020 Performance (Only 7k on it! Black + White seats) - $64k + taxes and fees - ~$790/mth
  • Pros: Cheaper than both other options, and I get a performance model! Low mileage too!
  • Cons: Doesn't have the 2021 upgrades, will need to buy winter tires/rims ($2k?), not the color I want...black is just ok IMO.

Technically speaking, all 3 options are within the realm of responsible income-to-car ratios, but I do enjoy living frugally where possible and saving my money. On the other hand, I can't help but want to splurge a little on this to treat myself.

If I went the most frugal route and get the used performance, maybe I can wrap this all red? Do they have wraps that looks like the multi-coat red with the same color and shine? If I'm spending more on this then should I even bother or just pay a bit more for the 2021 model?

And I keep hearing heat pump issues on the new 2021 models, is that still happening?

If you guys were in my position, what would you do? And am I missing anything here like other fees on the used inventory? Do they have the same finance rates on used?

Thanks in advance! I'm sure you can tell I'm having a tough time deciding here, lol.

 

[Double_J]

I can't answer the question because I struggled with the same thing. I somehow ended up buying a 2021 awd model y instead lol. Good luck with your choice!

 

[JACMS3]

Option 1 or 2 if you think you are going on track.

heat pump
Power trunk
Double pane Windows

 

[xG35]

Used performance. Unless you need the new stuffs, cosmetic or technical. Used 3s are great value.

3 depreciated quite fast, so if you went new, you will expect the same thing.

With tesla. There is always a newer one around the corner.

 

[I ASH I]

I would say you should probably go with the used model 3 for sure, you will save a lot of money and if you like the car you can trade it up and go with a updated car year in a few years(like a CPO MY Performance). And if you sell it privately or might be dealership you won’t lose an lot because CPO prices are very competitive compared to other dealerships.

I would also recommend you can either can go with a 2019 M3P because they aren’t much change in the range and interior design and you will get the Full self driving as well, which will definitely help to get that higher resale value for sure

Good luck.

 

[Vawlkus]

IMHO, go new from Tesla. They’re always adding in improvements as they go, so the latest tech is in the newest car.

 

[McFlurri]

100% go for the new 2021 Long Range

 

[findingwaldo]

Do you get the same interest rates for an auto loan between used and new? I thought they were different.

 

[P3dStealth]

Used performance no question.

The laminated front glass doesn't do anything. The power trunk is a hilarious add on you don't need and that's coming from someone with a $400 aftermarket power trunk added on.

You are spending $15k on a heat pump if you buy it new and it's not worth that.

 

[EloquentSyntax]

Do you get the same interest rates for an auto loan between used and new? I thought they were different.

I think so yeah, I'm not sure how much higher it is though. Anyone have experience buying used?

 

[xG35]

My friend got a used 3 and interest rate is same as new at Tesla. Odd but true. Can be financed up to the maximum duration too.

 

[Elder]

I got 2.7% on a used 2020 model 2 months ago

 

[I ASH I]

My friend got a used 3 and interest rate is same as new at Tesla. Odd but true. Can be financed up to the maximum duration too.

so can it be financed up to 8 years like a new Tesla.

 

[xG35]

so can it be financed up to 8 years like a new Tesla.

Yes

 

[TheRFMan]

The used performance seems like a good deal. The 2020 has better tires than the 2021 as well. Personally, I would hesitate with the black paint, I've had a black car for 9 years and it's really hard to help the paint looking nice. Looks great when freshly polished and detailed though.

In terms of winter tires, it's no difference in my view, I wouldn't drive on the stock all-seasons on the LR in winter anyways. But I'm in Ottawa, where there is generally more snow and ice on the ground here.

If you don't plan on driving the car on a racetrack, the LR AWD with performance boost is a good option as well.

I'm getting really close to pulling the trigger on a M3P order, although the way the COVID situation is gong, I will probably wait to oder for May/June delivery rather than March. I want Track Mode, so I'm set on the P. It would be a tough choice though if a used one like that came up in white, red or blue.