UK PCP's and Residuals

[mj88]

For a bit of context, my MS will be at the end of its PCP next November. In 2016 when I took it out, I got an amazing GFV, so I am looking at the Tesla site now starting to size up what the vehicle is possibly going to be worth, vs the buy out price at the end of the term. Net, net you can buy a similar spec car off the Tesla site, with the 4yr warranty for 20-25% less than the GFV on the PCP, a year ahead of the hand back.

Clearly would be madness to keep the vehicle and buy it out with such a gap.

So considering options, obviously its going back, but playing with an idea in my head. The vehicle has done nothing like the mileage I expected to do, so will be WELL under the mileage allowance, it's immaculate. So idea is to hand it back then grab it when it gets offered back for sale on the used listings.

Presume there will be a number of us in a similar situation over next 12 months and interested to hear experiences people have already had.

 

[DJP31]

That’s an interesting idea and not one I’d considered. My S will be due in 3/21 and I can hand back using the Voluntary Termination option in 12/20. I also have a crazy GFV of 54% of price I paid after 48 months.

I imagine the free SuCing for life will be stripped, but in truth that’s not worth much anyway (to me) and I guess it would get a new warranty. It’ll still be a four year old car though, so MCU1 etc, so I’m pretty sure my desire for a Raven - or perhaps an interior refreshed model of one arrives will be sufficient for the man maths to kick in for me.

Assuming that does happen I will be sad to see it go, it’s been brilliant car in every way and I take care of it better than I look after myself

That said, the Plaid version seen coming back from the ‘Ring seemed to be sporting an M3 landscape screen, and I’m not a great fan of that look.

Whatever happens, it’s going to be an interesting year or so ahead. I’m also disappointed there’s still nothing else to touch the car from the competition, especially as from a corporate perspective I think Tesla are shockingly poor .

 

[mj88]

Sounds like you're in exactly the same situation as me. Mine is that kind of vehicle that were I used car shopping I would be beside myself with joy to find condition and mileage wise. AP2/3 doesn't bother me, as it's so nerfed by regulations, and I would have less of a feature set "today" were I to buy just Autopilot. You get the warranty so you're covered if MCU1 fails, door handles etc etc... and I've developed a highly unusual fondness for it (I've normally got itchy feet at end of year 2 of ownership). Main reasons for change would be Raven powertrain efficiencies for longer haul trips, and as you rightly say, I can't see anything on the horizon that I would buy from a competitor due to the efficiency issues...

 

[mj88]

Worth noting that Free SuC is attached to car for life, so you would keep that. But currently you get it on a new build anyway.

 

[DJP31]

AP2/3 doesn't bother me, as it's so nerfed by regulations, and I would have less of a feature set "today" were I to buy just Autopilot.

I would now buy FSD with a new car as I do use Summon quite a bit, and like the Nav on AP even though it’s barely fit for purpose at the mo. I also think over the next few years the FSD features will start to arrive, and for PCP purposes would add that at the start rather than stump up a lump of cash part way through. YMMV of course.

Worth noting that Free SuC is attached to car for life, so you would keep that. But currently you get it on a new build anyway.

If your possible plan was to hand your back and then buy it back again when it reappears, all of the cars that you would expect to have free SuCing have had it removed by Tesla before the car is relisted. If I were Tesla I’d do exactly the same. Depends on how much you value the free SuC, and as you say it seems to have come back for new S & X purchases. I suppose another scenario might be where a high mileage driver might place a high premium on our cars, or indeed Tesla pay over the top to be able to turn the liability off. The spreadsheet is a very complicated one!