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[UK] Price cuts
- Thread starter APTY
- Start date
Yes exactly, sounds like some people want their cake and eat it. Can’t have it both ways I’m afraid.
So much Moaning about prices going lower . No one will ever be pleased either way. Yes my model 3 2019 is worth less but it’s less to buy the Y that I ordered yesterday.
I went for 30k Tesla finance (6.9% - ouch) and 15k cash. Not sure if this is the normal but my Tesla loan request was approved in 30 seconds?! My thinking being i can borrow the 15k cheaper around 4% in the loan markets and the £30k Tesla is only required as a bridging loan if I don’t sell my model 3 before I get the Y. Would prefer to not go without a car for long. So if I sell the 3 first I can turn down the Tesla finance. If I sell the 3 after I get the Y I’ll pay off the Tesla loan 1/2/3 months after it started for minimal interest.
Telling me my Y SR MSM 19, be with me end Feb/1st week March.
I went for 30k Tesla finance (6.9% - ouch) and 15k cash. Not sure if this is the normal but my Tesla loan request was approved in 30 seconds?! My thinking being i can borrow the 15k cheaper around 4% in the loan markets and the £30k Tesla is only required as a bridging loan if I don’t sell my model 3 before I get the Y. Would prefer to not go without a car for long. So if I sell the 3 first I can turn down the Tesla finance. If I sell the 3 after I get the Y I’ll pay off the Tesla loan 1/2/3 months after it started for minimal interest.
Telling me my Y SR MSM 19, be with me end Feb/1st week March.
For a manufacturer arranged finance that’s Cheap. I’ve seen over 10% at BMW atm.
The advantage you have with Tesla direct is if things tank you have a maximum outlay. With other lenders you have to buy the car so you risk the lower rate vs possible loss in value.
RedMod3
Member
I wonder, if Tesla had increased their prices just after people bought their car, would those people have offered to pay more for their car because of the price increase?
My view is when you order a car at a fixed price, that's what you agreed to, and you insure yourself against increases (if price agreed fixed), but you run the risk of a price reduction shortly after picking up your car. The same goes for goods sales in the high street.
My car has fallen in value. C'est la vie.
My view is when you order a car at a fixed price, that's what you agreed to, and you insure yourself against increases (if price agreed fixed), but you run the risk of a price reduction shortly after picking up your car. The same goes for goods sales in the high street.
My car has fallen in value. C'est la vie.
I think the issue a few of us have is at the end of 2022, Tesla put out big incentives to get cars sold. I went to the local Tesla dealer to check out a car. The sales guy said “I’ve never seen deals like this!”
Inventory models were discounted and clearly advertised on Teslas website was an incentive to take delivery before 31st December for 6000 free supercharger miles.
All of the above rhetoric led me (and others) to believe we were getting fantastic deals and at once only prices. Miss it and miss out was my feeling.
14 days later Tesla slash prices considerably. Not a small amount, but big discounts.
Tesla knew exactly what they were doing, they would have planned it like this weeks out.
‘Done over like a kipper’ springs to mind
Inventory models were discounted and clearly advertised on Teslas website was an incentive to take delivery before 31st December for 6000 free supercharger miles.
All of the above rhetoric led me (and others) to believe we were getting fantastic deals and at once only prices. Miss it and miss out was my feeling.
14 days later Tesla slash prices considerably. Not a small amount, but big discounts.
Tesla knew exactly what they were doing, they would have planned it like this weeks out.
‘Done over like a kipper’ springs to mind
HenryT
Active Member
Perhaps the sales guy hadn't ever seen deals like that?
You either believe him or you don't, either way, you make your own decision to buy at the time you bought. He didn't force you.
If you bought a car in that period, that was the deal you got. Again, you didn't have to buy it.
Relative to what had been the case just before that, you were getting a good deal. You did better than those who bought earlier.
They did. And they might slash prices again in 2 weeks time; who knows?
They might put them up again, too.
I'm sure they did know what they were doing, and probably have an idea what they are going to do next too. Unfortunately there are very few of us high enough up the food chain to know what that is, so mere mortals like the bulk of us can only make our choices when we do, in the light of what we know at the time.Tesla knew exactly what they were doing, they would have planned it like this weeks out.
‘Done over like a kipper’ springs to mind
I do appreciate it smarts to know now that you could have done better if you had waited a couple of weeks, but that is how hindsight works. I dread to think how many choices I might have made differently 'if i had only known....'
Enjoy your car, appreciate the fact you did better than a lot in the weeks before you and move on.
Materially - how different is the price you would pay today compared to what you paid? 6k miles of free supercharging is probaby worth about £1k for ease of mathsI think the issue a few of us have is at the end of 2022, Tesla put out big incentives to get cars sold. I went to the local Tesla dealer to check out a car. The sales guy said “I’ve never seen deals like this!”
Inventory models were discounted and clearly advertised on Teslas website was an incentive to take delivery before 31st December for 6000 free supercharger miles.
All of the above rhetoric led me (and others) to believe we were getting fantastic deals and at once only prices. Miss it and miss out was my feeling.
14 days later Tesla slash prices considerably. Not a small amount, but big discounts.
Tesla knew exactly what they were doing, they would have planned it like this weeks out.
‘Done over like a kipper’ springs to mind
I'm just wandering if you angst is more that you didn't get the deal of the century as opposed to you paid substantially more than you'd pay today. For clarity, I'm a little annoyed as residuals have come down, but I bought mine in April, today the car would cost £55k and I paid £56k, but I look philosphically at it. The ons I feel most sorry for are those that paid full price in early Dec, didn;t get the discounts, didn't get the free miles and 6 weeks later the cars 6k lower,
I think a few flippers who bought hoping to make a few quid in the name of "helping people who want the cars but can't wait" are under water on the deal, I'd imagine there are a few MYPs in that camp. I've little sympathy for them at the best of times, and I'm not going to start now.
Agree with everything you’re saying
But can’t help a feeling of missing out. Whether it’s a laptop that gets price cut by £150 the next week or a car that gets an £8k discount a few weeks after purchase… the feeling of being a bit gutted is a human trait that is ingrained in us.
Car is bloody amazing though
Personally I didn’t miss a lot in terms of value.
What I am a bit dismayed about is the hassle that I went through over Xmas to seal the deal and rush to get it before 31st of December to get the deal.
I’ll get over it quickly….
See, am over it now.
Erm… are you the guy that has the awesome YouTube channel?Personally I didn’t miss a lot in terms of value.
What I am a bit dismayed about is the hassle that I went through over Xmas to seal the deal and rush to get it before 31st of December to get the deal.
I’ll get over it quickly….
See, am over it now.
HenryT
Active Member
Your grief is understandable but at least you didn't suffer the devastation a few on here went through with the 'inferior back lights' a few months ago. I think we had a few on the edge with that one...Agree with everything you’re saying
But can’t help a feeling of missing out. Whether it’s a laptop that gets price cut by £150 the next week or a car that gets an £8k discount a few weeks after purchase… the feeling of being a bit gutted is a human trait that is ingrained in us.
Car is bloody amazing though
Great car though innit, and man, them back lights
HenryT
Active Member
Tesla owners meeting...
"Free Supercharging? You were lucky, I used to dream of free Supercharging"
"In my day you didn't get any discount and had to put up with tiny backlights you couldn't even find with a torch"...
"Free Supercharging? You were lucky, I used to dream of free Supercharging"
"In my day you didn't get any discount and had to put up with tiny backlights you couldn't even find with a torch"...
I guess you haven’t even considered when it comes to selling the car? I sadly took delivery on the 3rd of December, so absolutely Zero incentives, even after asking several times if there were any. I originally was going to lease the car and the sales guy said you can also do PCP as another option and I asked what’s the difference, he said that you will likely have around £10k left over at the end of the 3 years to incentivise you to purchase another Tesla with the larger deposit. So for the additional monthly cost I thought we’ll it sounds worth going for PCP. £600pm lease vs £805 PCP.
The fact that I purchased the car for £8,000 more than a month later, on top of the resale values of all Tesla plummeting I’m now sadly (after 1 month, including interest) £52,990 (model Y RWD in grey) valued currently at £40,000 (it pains me to say) and plus roughly £6,000 of interest so I’m technically £12,990 plus £6,000 - £18,990 in negative equity as at 1 month, and you wonder why everybody is so angry?? I haven’t even taken into account the balloon payment at the end of my PCP which could see me in serious negative equity..
Yes, I completely agree that all car manufacturers have sales, but those are actual sales due to year end, a new model or at the very least a face lift version of a car. Also the discounts given have absolutely no affect on the resale value of that car model because there is a genuine reason for discount and it’s temporary.
The fact that I could guarantee if Tesla ‘temporarily’ sold cars at a ‘discounted’ rate it would have had absolutely zero impact on the resale values of all Tesla’s like it has done now. But this isn’t a discount, it’s a new permanent price, causing Tesla madness right now.
And just to add I am a first time owner so I haven’t had the benefit of trading in an overpriced Tesla or purchased a cheaper Tesla in the past like many people have.
An easy fix, which would cost Tesla absolutely nothing would be to give all December deliveries, that haven’t had a discount FSD and then maybe November EA. At least this would help with residual value when we sell the car because at the moment it’s looking horrible!
Just my opinion.
Lord Farquad
2022 MYLR W/B/20s/Tow bar. Previously 2021 M3SR+
Prices will likely rise again and residuals with them. If you have to duck out within the first year it might be an issue but after 3 or 4? More likely it’ll be similar to when you set up the deal.
HenryT
Active Member
It would be an easy fix as you say, but I don't think it would make any difference on resale values. Experience quoted by a number on here seems to be that little value is put on FSD/EA in resale terms.
Fingers crossed, this is my only hope but it’s a long way away!! As I say I hope they could just give us some form of compensation such as FSD because when you take into account the higher price along with reduction in resale value it’s a massive blow!!
most people are just looking at the £8k we have paid more not thinking that along with that hit our cars are now instantly worth £9-£10k less immediately it’s the worst purchase I’ve ever made sadly!!!
HenryT
Active Member
Just a little bit presumptuous, dontcha think?
Of course I did.
Like you, I bought a depreciating asset which ultimately would be sold in a market I can't predict with any certainty, nor can I control it.
Like you (presumably?) I made my purchase decision on the basis of my finances, my needs, availability of alternatives and other factors at the time I did it.
I've been around long enough to know there will be better (and worse) deals to be had at some point in the future, spec will change, economic circumstances (mine and more generally) will change as well. But, and here's the point - was it a deal worth doing at the time for me?
It was, I did it and I'm glad I did.
