Trade in Values from Tesla (& other dealers)

[Leejmoff]

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….

My last two haven't depreciated anywhere near the same as Teslas in the first two years......and one was a Skoda (preparing for the jokes).

Skoda for example, bought at £30k, sold to carwow at £24.5k two years in. Yes, it was during the period used cars were high price, but still. If it was same as my recent Tesla trade in offer, it would have sold for about £14k

 

[Bouba]

My last two haven't depreciated anywhere near the same as Teslas in the first two years......and one was a Skoda (preparing for the jokes).

Skoda for example, bought at £30k, sold to carwow at £24.5k two years in. Yes, it was during the period used cars were high price, but still. If it was same as my recent Tesla trade in offer, it would have sold for about £14k

Timing is absolutely everything in a market.....I could have sold my M3LR for more than I paid for it....but if I sell now, Heaven help me

 

[Dilly]

I got a trade in quote from Tesla today for my March 2020 3LR with 12,119 miles; £24200 including FSD. I’ll stick for now.

 

[Bouba]

Demand grows for used electric vehicles while fast start to 2024 predicted

The average retail value of a used EV has increased in October following months of decline, new pricing data suggests.

www.fleetnews.co.uk

Has anyone got more up to date figures ?

 

[UrbanSplash]

Motorway bidders are pulling out of Y purchases. But of course you’re still going to get the ‘Tesla’s depreciate as much as any other car’ bollox. I’ve never NOT been able to sell a car before.

 

[Js1977]

 

[MrT3]

Has anyone got more up to date figures ?

Used car values stabilise after 10.5% fall | Positivity for used EVs

An end to the phase of volatility the used car market saw between October and December 2023 has ended, according to the latest residual value data from Cap HPI.

www.fleetnews.co.uk

 

[Zilla91]

32500 for my 22 plate M3P with 11600 miles on the clock

 

[Bouba]

32500 for my 22 plate M3P with 11600 miles on the clock

Is that good or bad ?

 

[Zilla91]

I’ll let you know once I find out what my settlement figure is

Edit: it has lost 31890 since March 22. Steep.

 

[Pagemakers]

3P 2019

October £27,900
January £19,000
Today £22,700

 

[Js1977]

And now a moment for reflection...

We all know we are going to die but do we really want to know when?

Do you keep an eye on what your house is worth? and what does it matter since you will need somewhere to live until you die and even then you might just die in that rest home next to someone that never paid a mortgage.

Do you want to be slaves to the financial institutions or a job you might no longer be happy with and never own anything?

If you are concerned as to what your car is worth than dare I say you have bigger problems at hand

 

[Zilla91]

And now a moment for reflection...

We all know we are going to die but do we really want to know when?

Do you keep an eye on what your house is worth? and what does it matter since you will need somewhere to live until you die and even then you might just die in that rest home next to someone that never paid a mortgage.

Do you want to be slaves to the financial institutions or a job you might no longer be happy with and never own anything?

If you are concerned as to what your car is worth than dare I say you have bigger problems at hand

Thought you’d be asleep by now after you were yawning on one of your earlier posts

 

[qwickshot]

Oh here we go again

You were wrong.

My last two haven't depreciated anywhere near the same as Teslas in the first two years......and one was a Skoda (preparing for the jokes).

Skoda for example, bought at £30k, sold to carwow at £24.5k two years in. Yes, it was during the period used cars were high price, but still. If it was same as my recent Tesla trade in offer, it would have sold for about £14k

Let me get this straight, you bought a car when prices were ‘normal’ and the you sold it during a period where there was a shortage of cars creating a massive spike in prices and that somehow considered ‘normal’ depreciation. Sure that tally’s up….

The car was also considerably cheaper than a Tesla and therefore will have lower depreciation in cash terms and % terms. Cheaper cars depreciate less than more expensive cars and this has always been the case. Just look how much 3 year old £100k range rovers go for.

The used car bubble burst the Skoda will not be worth anything like what they were back in 2021/2.

I don’t know what car you had but let’s take a Skoda Kodiaq, it’s a decent car and fairly popular these days. A Quick Look on Autotrader shows that a brand new unregistered Kodiaq can be had from £32k from a dealer, a 3 year old used one can be had from £18k from a dealer at retail. So a trade in at £13k-£14k is probably about right. How’s that for depreciation?

Trade ins at a normal car dealership are usually generous because it’s a disguised discount.....Tesla prices are fixed so the trade in value is bare minimum

They are really not, a dealer will give you the least amount possible for your car. If they can get away with it, they won’t even tell you how much they are actually giving you for your vehicle and will hide it within a ‘cost to change’ figure or monthly finance payment.

The vast majority of trade ins go to auction and the independent dealers and car supermarkets buy them up.

The dealer will want to make a margin on the car to make the hassle of taking it on trade in worth their time and effort. They’ll also need to recover transport costs, auction fees and the labour/admin time of sorting it all out.

The likes of WBAC, Motorway etc. have literally built businesses around paying slightly more than a trade in from a dealer. They actually wouldn’t exist if dealers gave people top dollar on trace ins.

 

[debrooker]

Timing is absolutely everything in a market.....I could have sold my M3LR for more than I paid for it....but if I sell now, Heaven help me

i did just that - came out of a 2021 M3LR in 2022 for zero loss into my current M3P. The less said about the value of this one, the better

 

[Bouba]

i did just that - came out of a 2021 M3LR in 2022 for zero loss into my current M3P. The less said about the value of this one, the better

Same in the boat market....post covid and boats were selling for the asking price on a first come first to buy basis.
I think some people on this thread need to be a bit philosophical....if you make a good profit on a rising market then you shouldn’t complain if a bear market wipes out your profit

 

[Durzel]

Same in the boat market....post covid and boats were selling for the asking price on a first come first to buy basis.
I think some people on this thread need to be a bit philosophical....if you make a good profit on a rising market then you shouldn’t complain if a bear market wipes out your profit

Indeed.

Plus people who were lucky enough to capitalise on the COVID price craziness to basically swap cars are still enriched. They have a car that is however many years newer than the one they sold, and the usage (in hire terms) of their previous car was basically free.

 

[Doudeau]

Indeed.

Plus people who were lucky enough to capitalise on the COVID price craziness to basically swap cars are still enriched. They have a car that is however many years newer than the one they sold, and the usage (in hire terms) of their previous car was basically free.

I asked for opinions when I basically swapped old for new in 2021 and I’m glad I didn’t listen to those who discouraged me at the time.

I see my notional (as I’m not selling anytime soon) depreciation as over 52 months rather than 32 months and it’s more palatable. I’ve lost money quicker on an ICE car before.

I think the government’s decision to allow sale of ICE cars to 2035 has taken the pressure off people thinking they need to embrace owning an EV.

 

[Js1977]

think the government’s decision to allow sale of ICE cars to 2035 has taken the pressure off people thinking they need to embrace owning an EV.

No different to when they advised diesels in the past then... and history repeats itself. I could really have a good rant but since I dont vote and we are not allowed to discuss politics, I'll let it be. At least Im not all that disappointed.

 

[Js1977]

Here is some "pick me up" for some of you...