Mod comment: can we drop the house discussion, we’re a Tesla car forum. A point was made by someone, some have challenged it, let’s move on as any further debate and trends on social economic net worth really isn’t furthering the debate on Tesla depreciation and financing options in my opinion.
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Trade in Values from Tesla (& other dealers)
- Thread starter Ambergold
- Start date
Im sure I would still have a punt at half the price in the hope ill pocket the rest
You forgot the bit that you never have to pay for repairs either and only need contents insurance
Fair point
I probably would too but the fact remains that some people won't be comfortable without a manufacturer approved warranty option so they will look elsewhere. Less potential buyers will negatively impact prices.Im sure I would still have a punt at half the price in the hope ill pocket the rest
At 20k plus savings with still a fair bit of warranty on the drive train. It’s a no brainier really unless you can’t come up with the cash of course… which admittedly most people won’t but sometimes not because they can’t…. So yes I do agree with what you are saying for the wrong reasons
Well I’ve sold my Y. Less than 2 years old and it’s shed nearly £25k. Cash buying a Tesla is complete madness. Won’t be doing that again. Probs won’t have a Tesla again. It’s not been all bad though. Screen/tech is far better than anything on the road. That will be missed.
Now the family has an Eton GT. less than £550pm salary sacrifice all in. Bargain.
Now the family has an Eton GT. less than £550pm salary sacrifice all in. Bargain.
I have found that if you are willing to put the effort in when buying a car, depreciation can be minimal (I'll leave my current ICE out of this discussion as it is now considered a 'collectable' car, but that certainly wasn't the case when I bought it).
Before the Tesla M3 LR, which I bought new as a retirement treat, I owned 7 or 8 reasonably interesting cars (mainly fast Honda's, but also some family wagons) over a 20 year period.
I mostly bought 12-18 month old cars privately. Always with low mileage and proper service history (you'd be surprised how many people don't service new cars properly). A few I bought new in Europe when the £ was strong against the Euro and it was straightforward to order UK spec. cars from franchised dealers in France, Belgium and (bizarrely) Cyprus.
I kept all of the cars in excellent condition, and sold privately. I didn't loose more than 10% on any of them....some I even made a modest profit on.
The Tesla, which I lazily bought new, looks like being another matter altogether!!!
Before the Tesla M3 LR, which I bought new as a retirement treat, I owned 7 or 8 reasonably interesting cars (mainly fast Honda's, but also some family wagons) over a 20 year period.
I mostly bought 12-18 month old cars privately. Always with low mileage and proper service history (you'd be surprised how many people don't service new cars properly). A few I bought new in Europe when the £ was strong against the Euro and it was straightforward to order UK spec. cars from franchised dealers in France, Belgium and (bizarrely) Cyprus.
I kept all of the cars in excellent condition, and sold privately. I didn't loose more than 10% on any of them....some I even made a modest profit on.
The Tesla, which I lazily bought new, looks like being another matter altogether!!!
Believe it or not, the depreciation on all its competitors is worse.
The cheapest Model Y on Autotrader (not CAT-S) is £35k. How much did you sell it for?
Nice.
Drew57
Active ember
Similar here with many previous purchases and with Tesla.
But you know what... many of those didn't inspire me after the novelty faded and I soon lost interest, unlike with both Teslas. Even after four years on a cost vs enjoyment ratio I still look forward to driving, as well as the occasional surprises from an update. So on that basis the depreciation is almost worth it.
MrBadger
Badger out
It may be if you buy new at UK prices. I think what OP was saying was if you did your homework and bought from overseas then you could save a considerable amount of cash that would offset any depreciation.
Our new car before our Tesla was via a broker. It was effectively a Dutch purchase iirc but delivered and registered direct to a UK main dealership at a considerable discount over new UK price - iirc 10-20% - we just bought next spec up and a load of options for about same price.
You don’t get that ability with Tesla unless you buy inventory and even then the discount does not match anywhere near our broker discount.
Mine is also two years old, Mrs model 3 will be 3 in September and also paid cash... did you really have to sell it, lose all that money and also pay another 550 a month?
When did you buy it?
I know this used to be a thing but I’m pretty sure manufacturers have clamped down on EU dealers buying RHD cars not meant for their market some time ago.
You can get U.K. stock from U.K. dealers for 10-20% off these days if you shop around thanks to silly financing costs and over inflated list prices.
It still doesn’t change the fact the depreciation on the cars that directly compete with the Model Y even after purchase discounts (which you wouldn’t have got from late 2021 through to 2023) is still brutal. It’s also assuming Tesla don’t do discounts but they clearly do, both on finance and list price. You can get a Model Y at 1.8% currently, that’s well below cost for the finance.
You can get a Mach-E, EV6, Ionic V for £5k less than a Model Y on the used market. Here’s the kicker, the ID.4 is a clear £10k cheaper on the used market.
You can get an ID.4 1st edition on a 71 plate and 40k miles for under £25k, utterly brutal. Slightly newer standard ranges are creeping down to £22k.
Quite the opposite for me,.but we are all.different.
I saw careful buying and selling as a way to move up my (admittedly modest) dream car 'ladder'. There are a couple of fast Honda's I particularly miss and regret selling (Integra Type R and S2000)...but without them, I wouldn't have my NSX.
Whereas the Tesla is just a comfortable and (depreciation aside!) economically efficient way of getting from A-B, but certainly not a car I look forward to driving on a quiiet Sunday morning just for the hell of it.
Rooster6655
Active Member
Yes right now on first look it seems like the retail resale value on the Y isn't that bad, I expect that prices will reduce beyond March when there will be a lot of 2 year ones put up for sale from leases etc.
The ID 4 has also lost a lot of value for 2-3 year old models along with other brands and its likely there is less demand for non Tesla EVs in comparison
If @UrbanSplash sold their less than 2 year old Long Range Y for under £25k, they literally gave it away.
I just reluctantly sold my 71 plate RWD 3 to a dealer for £23k, any dealer would have snapped their hand off for a Y at £25k. They would have sold it for £33k on autotrader within hours minutes.
To prove this point, I just put the cheapest retail Model Y (£34,994) on autotrader through webuyanycar and even they would give you £31,225 for a Model Y on a 22 plate with 33k miles. You’d get more than that via Motorway, Cazoo, Carwow etc.
If @UrbanSplash genuinely sold their car for £25k, they got robbed. That said more fool then for not spending 3 minutes to check literally any car buying website.
I just reluctantly sold my 71 plate RWD 3 to a dealer for £23k, any dealer would have snapped their hand off for a Y at £25k. They would have sold it for £33k on autotrader within hours minutes.
To prove this point, I just put the cheapest retail Model Y (£34,994) on autotrader through webuyanycar and even they would give you £31,225 for a Model Y on a 22 plate with 33k miles. You’d get more than that via Motorway, Cazoo, Carwow etc.
If @UrbanSplash genuinely sold their car for £25k, they got robbed. That said more fool then for not spending 3 minutes to check literally any car buying website.
He said it depreciated nearly 25k.... that would mean the he got rid of it at a minimum 30k.
It still beggars belief that one would sell a perfectly good car that was paid for and under warranty to then go and outlay another £550 a month for another in these volatile times unless he was strapped for cash
Why? If you have the option to save yourself 40% tax on car payments, insurance, tyres etc then it makes sense to do so. The MY was costing him well over £1k per month in depreciation and insurance, but now has cut that in half and has £30k to earn some money through investment.It still beggars belief that one would sell a perfectly good car that was paid for and under warranty to then go and outlay another £550 a month for another in these volatile times unless he was strapped for cash
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