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Trade in Values from Tesla (& other dealers)
- Thread starter Ambergold
- Start date
Rooster6655
Active Member
Depends when he brought the car and the options, at one point a LR could be had for £47k under existing inventory but if he brought it in Dec 2022 then its more like £57k (I think) + say £2k options, so if he then sold it to a dealer for £34k then that sounds about right.
I agree that anything under £33k would probably get snapped up quickly and you'd probably get that on Motorway/Carwow
Very true.....though Tesla 'new car' smell is quite nasty, so no great loss.
WannabeOwner
Well-Known Member
I'm guessing a bit here but as I understand it:
O.P bought an M3 on finance. Paying £X a month (and it is losing money e.g. depreciation)
Company offers a salary sacrifice scheme so: get rid of the M3 and get an eTron instead. That finance is less than £X a month.
Plus, the salary sacrifice is £0-down, and includes all insurance / maintenance etc.
So flog the old M3 for whatever you can get for it, and put that cash in your pocket. (I presume there is no option for at trade in for salary sacrifice; the M3 may have had more financial-clout as a trade in than a "cash sale")
There are some snags with this ...
at a guess there is no residual value of the salary sacrifice car, so the monthly payment is IT, but there is NOTHING to show at the end of it and (as I understand it) NO option to buy the car at the end.
Also things like "Have to take their insurance" ... no idea what that does to accumulated no claims and so on, and whether that insurance might be "stacked" because the price is all-in and includes the PAYE tax savings, so might not be that good a deal overall - especially if company calculates e.g. Pension deductions on NETT rather than GROSS. I have no direct interest in a salary sacrifice purchase, my cars have been bought cash by the business for 100% first year writeoff - but we do offer salary sacrifice to our employees. Best of my knowledge only 2% of employees have taken it up ... which means it was a waste of time management even considering putting the scheme in place for the benefit of the employees ...
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WannabeOwner
Well-Known Member
You normally have the option to purchase at the end of the lease, but that may depend on the company. Certainly with Leaseplan and Octopus you can.
Exactly this. Pointless having all this cash tied up in a car. I’ve over £30k in the bank now. Of course the depreciation is at its worst point most likely but I can’t see things improving. Any price drop on a whim from Tesla won’t help matters either.
It’s doesnt mater what they are listed for on Autotrader. Are people buying at that price? It’s brutal out there. Usually WBAC is the ‘minimum’ you would want for selling a car. But even bids on Motorway were similar to WBAC. Part ex? Forget it. Looking at £2-3k less than WBAC best case.
Of course I could try to sell it privately. But the timewasters etc. Ugh. I wouldn’t want to be a dealer selling Teslas currently.
but I don't know, strange decision processYep. That should cover you for about 5 years lease. in the meantime, If you dont have solar and batteries, it could at least see some guaranteed return
He already bought it cash. so no further expenses for monthly fees at all. and already have a car - ok, it is depreciating, but in the endo f the day, value will never be 0 :/ but selling it and getting half the cash and then use that cash to lease other car :/
strange decision
maybe I just lack of imagination
To be fair, we just sold a Model 3 we (mostly) owed, leased a Y on SS and spent the cash on solar and batteries.Yep. That should cover you for about 5 years lease. in the meantime, If you dont have solar and batteries, it could at least see some guaranteed return
Now the 3 was going to get sold regardless as it no longer met our needs (can’t tow) and the switch to SS basically freed up a load of cash which we could use elsewhere.
Since installation the batteries mean I don’t touch the grid in the day anymore. We are still importing loads as it’s winter but my electricity cost has been under 8p/kwh.
Once my export tariff is set up, I’ll be exporting at 15p so even in the summer, we will brim the batteries overnight and export anything not instantly consumed to the grid for the best ROI.
Once the heat pump goes in, we will end up importing on the day rate over the winter but that’s fine.
Now if the 3 kept meeting our needs, we wouldn’t have sold it because of the high depreciation, not sure that’s sound decision making as they have clearly levelled out already. It’s ultimately what happens when you buy a brand new car, it drops 40-60% in the first 3 years. The more expensive the mainstream car, the bigger the drop.
You might not see money disappearing from your account each month but you still have to save for your next vehicle - and if it is depreciating faster than you initially thought then you have to save extra.
Dec21 here, and they offered 18k. I've done 26k miles. Pathetic. Privately its quite a bit more. I'll be hanging on for a while too. I was looking at the Y, but will probably wait until the end of the term and see alternatives. I don't want another car that depreciates like Teslas do.Collected my model 3rwd in December 2022. Was interested how much would it cost me to move to highland model.
Tesla offered 21k for my car with 26k miles. I will stay with my current car for some time
All cars priced at similar levels to Tesla’s depreciate like Tesla’s do because Tesla’s deprecate the same as other cars at similar price points.
If you don’t want a car that sheds 40-60% of its new price in the first 3 years you own it, don’t buy a brand new one….
The depreciation on Tesla’s is actually lower than similarly priced EVs….
If you don’t want a car that sheds 40-60% of its new price in the first 3 years you own it, don’t buy a brand new one….
The depreciation on Tesla’s is actually lower than similarly priced EVs….
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