I received my new trade-in offer and compared to the last one on Jan 3rd it only dropped 10%, not as bad as I expected with the price cuts and used car market adjusting back to normal.
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Trade In Values in 2023
- Thread starter lowtek
- Start date
vcor
Tech Specialist
While few have time to wait, I think used car prices are going to go back up in March/April. This is the 3-year mark where everything shut down for COVID. This means very few cars were put on lease 3 years ago and will not show up on the used market now that those leases would be up. Fewer cars available should mean prices will increase. Strange market dynamics!
There are also a lot of people that over paid for cars the last few years and are now delinquent or going to default. Also looks like consumers are running out of spending power. Add in high interest rates. Lastly, the brand name is a little tarnished right now too. I honestly would not be surpised if the Model S gets another reduction closer to the 80k the refresh started at in 2021.
From just watching the falling prices and increasing quantities of used cars on Tesla's website it would indicate that 2023 will continue to see the falling price of used Tesla's. Plus a ton of new EV's entering the market in the lower price range in 2023 also. The Tesla Fire sale at Carmax and Carvana is creating even more downward pressure on price. Not good for our current car trade in power but great news for first time used Tesla buyers and will accelerate the EV transition.
Tesla Model 3 Price Trends - CarGurus
Where? Lots of talk ... but prototypes are a far cry from a production car you can actually buy ... there are a few at best for 2023, not a ton ... meanwhile, Tesla is likely going to double production again.
Tesla was still continuing to ramp up sales at that time. I doubt there will be any upward price pressure from this. we may see some upward price pressure from increasing gas prices again tho
Used prices heading up again. With delivery times exceeding a few months the used car inventory in Teslas is declining. A 50 mile radius around me had only 10 2022 MYLR for sale. In December that number was around 200. So I think March-May we may see values increase quite a bit due to lack of availability and also Tesla raising their price. This is only speculation.
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