Trade in 2018 LR RWD for 2021 LR AWD?

[milosM3]

I wrote it all out because i'm anal like that. Considering trading in my 2018 LR RWD for a 2021 LR AWD. It's a $5,000 out of pocket cost. I'm losing FSD on the new car but gaining the items below. Can't decide if I should pull the trigger... any thoughts? I guess I could add 4 years warranty to the list on the 2021 and only 2 years left on my 2018. Hmm!


2018 Model 3 Long Range RWD (24,000 miles)
Model 3 35,000
long rng 14,000
white paint 2,000
19" wheels 1,500
Autopilot 5,000
dest & doc 1,200
+FSD 3,000
total: 61,700
-$7,500 federal tax credit
-$3,000 referral wheels sold
total: 51,000

Owned for 24 months means it cost me $533 per month for 2 years.


2021 Model 3 Long Range
-FSD (only getting Autopilot)
+Dual Motor AWD
+power trunk
+double pane glass
+chrome delete
+updated interior
+auo-dimming mirror
+heated side mirrors
Total: $46,990
-NJ EV -$5,000
Total: $43,190
- 38,200 Trade in 2018 LR RWD

Total out of pocket: $5,000

 

[lpp06]

Is the trade in value worth more than your principal on the original loan? If not, you'd have to add that negative equity into your cost.

 

[milosM3]

The trade in value is $38,200 and I owe $20,000 on the loan

 

[lpp06]

Got it Some thinks to ponder:

I'd ask yourself how much you enjoy having FSD features like NoA and auto park and whether or not you think you'd have FOMO if you didn't have any of the new updates if/when they come out (ie auto steer on city streets). Do you use them frequently?

Do you think you'd get more day to day enjoyment out of the AWD? Whether that be because of performance, range or interior change

Seems like you'd be saving money by getting a new w/o FSD, so do you value being out of the loan earlier?



Don't think you can go wrong either way. Not to add a wrench to your plan, but the other option is getting a new 2021 w/FSD depending on how the math works out for you. 56,990 w/your trade in and doc fee probably comes to a balance of around ~$20k.

 

[CapeOne]

You know you want to do it!

Seems worth it when you can take advantage of New Jersey's generous EV incentives. You can always add FSD later if you decide you want it (again).

 

[solar3]

100% go for it. Is your trade quote from Tesla? I'm going for it at nearly double your out of pocket cost (my car is a dual motor at 37.5k miles). I'm losing EAP but I will not miss those features. Summon doesn't work in my garage for some reason. Never even tried smart summon or autopark, which I imagine will trigger a lot of people in NJ if I tried lol. Auto lane change maybe I'll miss just a tiny bit just so I don't have to take it off AP when changing lanes but not a big deal. My 2018 has heated and auto dimming mirrors. I wasn't aware that it didn't always have it.

Right now is probably the last opportunity for me to trade up for under $10k, and only because of the NJ $5k rebate. I'm fine either way though as my car has been 100% trouble free. My trade quote will probably expire before the new car arrives, and if the value goes down even a bit I will not move forward. What sucks though is I'm already more than half way through the 1000 miles allowance on the trade so my car has been just sitting in the garage, with probably at least a month to go before delivery. Also, insurance for me goes up $500/yr just going from a 2018 to a 2021 with the exact coverage which I'm not understanding. My 2018 was $60k even and same insurance premium since day 1. The new car is $47990 sticker and yet goes up $500/yr.

 

[El joe]

Another vote to pull the trigger, though losing the FSD might be tough depending on your commute. Many of us work remotely for now, but will have to commute again one day. Will that impact you and your experience? If so, getting FSD down the road for $10k or more might suck.

 

[milosM3]

Also, insurance for me goes up $500/yr just going from a 2018 to a 2021 with the exact coverage which I'm not understanding. My 2018 was $60k even and same insurance premium since day 1. The new car is $47990 sticker and yet goes up $500/yr.

Wow, I hadn't considered the insurance hike. I use NJM... I'll call them today for a quote and report back on the increase amount.

 

[milosM3]

Wow, I hadn't considered the insurance hike. I use NJM... I'll call them today for a quote and report back on the increase amount.

It's only +$180/yr more on my insurance

 

[Watts_Up]

@milosM3 did you count the sales taxes (6.625% in NJ) and DMV fees (~ 2%) for the 2018 and the 2021?

Also you didn't count the 19" wheels option you have for the 2018 but didn't select for the 2021.

- Why not keeping the 2018 M3 with FSD until the V11 version is available, to decide getting, or not, FSD for your next Tesla?

- Why not getting a Model Y as a next car?

 

[milosM3]

@milosM3 did you count the sales taxes (6.625% in NJ) and DMV fees (~ 2%) for the 2018 and the 2021?

Also you didn't count the 19" wheels option you have for the 2018 but didn't select for the 2021.

- Why not keeping the 2018 M3 with FSD until the V11 version is available, to decide getting, or not, FSD for your next Tesla?

- Why not getting a Model Y as a next car?

NJ doesn't have sales tax on EV's. yes i counted the DMV fee. I'm OK with 18" wheels I like the look without the aero covers. Model Y only gets ~326miles range... the new model 3 is getting 353

 

[T3SLAROD]

I say yes, simple because Tesla has forgotten about the LR RWD and Mid Range. You get new Hardware with improvement made to the car overall and you if you care about going faster you get back in the game with a faster car that won’t lose support as far as performance.

The LR RWD will not see a performance upgrade again in my opinion.

 

[ftmaybe]

NJ doesn't have sales tax on EV's.

!!!!! really? that's awesome. tax is a massive hit on teh purchase here in CA

 

[solar3]

Wow, I hadn't considered the insurance hike. I use NJM... I'll call them today for a quote and report back on the increase amount.

I was with NJM for 15yrs, right up to the time I ordered my 2018 when they quoted me an insane amount on the Tesla. Plus they've steadily increased my premium over the last 5yrs or so to nearly doubled what I originally paid, with zero claims and perfect driving record. I switched to Geico. What I'm paying Geico now (3 cars and a teenager) is less than what I paid NJM (just 2 cars and before adding a teenager). Oh yeah the calling. With NJM you gotta call for everything. Geico everything can be done yourself in their app or on web browser, but I will call them and see if there's some sort of error with the online quote on the 2021 Model 3.

 

[SalisburySam]

Seems to be a case of trying to rationalize a “want.” If you want the newer vehicle, get the newer vehicle. Most of us will do so at some point, just a matter of how much you choose to benefit from the initial investment. I don’t tire of a vehicle as quickly as I used to (I bought 3 Corvettes all within 18 months at one time because I wanted a new interior color in one case and a convertible in the other). My 2018 LR RWD with FSD will satisfy my “wants” at least until more of the factory warranty is consumed, and likely longer. I’m guessing the 2023-version of a Tesla will be substantially more awesome than the 2021 and will likely include things I actually do want.

 

[solar3]

Seems to be a case of trying to rationalize a “want.” If you want the newer vehicle, get the newer vehicle. Most of us will do so at some point, just a matter of how much you choose to benefit from the initial investment. I don’t tire of a vehicle as quickly as I used to (I bought 3 Corvettes all within 18 months at one time because I wanted a new interior color in one case and a convertible in the other). My 2018 LR RWD with FSD will satisfy my “wants” at least until more of the factory warranty is consumed, and likely longer. I’m guessing the 2023-version of a Tesla will be substantially more awesome than the 2021 and will likely include things I actually do want.

Maybe, but by then it'll likely be at least a $20k price differential for me which I'm definitely not willing to pay. So it is either now or drive my 2018 until it falls apart. It is how I'm rationalizing it. If it weren't for the NJ $5k rebate I wouldn't even think about it. Seriously though, for the OP at $5k differential, it is a no brainer as he is also gaining the front motor.

And we will have this discussion again in 2023

 

[milosM3]

Seems to be a case of trying to rationalize a “want.” If you want the newer vehicle, get the newer vehicle. Most of us will do so at some point, just a matter of how much you choose to benefit from the initial investment. I don’t tire of a vehicle as quickly as I used to (I bought 3 Corvettes all within 18 months at one time because I wanted a new interior color in one case and a convertible in the other). My 2018 LR RWD with FSD will satisfy my “wants” at least until more of the factory warranty is consumed, and likely longer. I’m guessing the 2023-version of a Tesla will be substantially more awesome than the 2021 and will likely include things I actually do want.

I see you are in NC, I'm guessing you don't drive around in snow much with that RWD. Different story up here.

 

[milosM3]

Maybe, but by then it'll likely be at least a $20k price differential for me which I'm definitely not willing to pay. So it is either now or drive my 2018 until it falls apart. It is how I'm rationalizing it. If it weren't for the NJ $5k rebate I wouldn't even think about it. Seriously though, for the OP at $5k differential, it is a no brainer as he is also gaining the front motor.

And we will have this discussion again in 2023

It's actually less than $5k if you consider that I'll have to replace my tires soon, not sure about the breaks but def the tires in the next year or two. How much is a new set of Model 3 stock tires?

And since i'll get 2 more years under warranty by getting the 2021 I'm not sure how much a 2 year warranty extension would be on my 2018 but there's another cost offset there.

 

[lpp06]

It's actually less than $5k if you consider that I'll have to replace my tires soon, not sure about the breaks but def the tires in the next year or two. How much is a new set of Model 3 stock tires?

And since i'll get 2 more years under warranty by getting the 2021 I'm not sure how much a 2 year warranty extension would be on my 2018 but there's another cost offset there.

If you’re using regen breaking, break replacements shouldnt happen for quite some time.

 

[Marius A]

Does the 2021 feature something that you really want or need?
If not, wait for a bigger change.

I understand justifying it, but I don't see any reason to switch cars for iterative updates.