[UK] Price cuts

[2020M3SR]

Ordered a MY SR MSM 19’ (Geminis to come off at the showroom !!)

Now what’s my white Nov 19 SR+ worth 57k miles in a private sale ?

I personally think you should sell it privately ASAP. Obviously, get a WBAC and Motorway price if you haven't done so already. If you have, what's the numbers?

Wilson's auctions near you?

It's not expensive, run it through there with a reserve price you want to get. You probably won't get it but what you'll get for the small fee is an indication of what dealers would pay.

Watch your auction like a hawk and try and see who bids. You can go chat with them if it fails to hit your reserve and maybe cut a deal there and then as if you do it private, dealer saves on auction fees

Oh, and wear a Tesla hat or a I love Elon t shirt or something

Make it as obvious as you can that when it runs through the auction, it's your car. Someone might approach you after the auction.

Overall, if the auction fails, it's a small price to pay for a true price indicator and you can then sell it privately for the auction price max bid plus 1 or 2 extra £k

That's what I would do.

 

[qwickshot]

I’d just put it on autotrader/eBay/Facebook for a sensible price. Given it’s - 19plate SR with no warranty, it will need to basically be the cheapest example on there and it will sell.

 

[Simavon]

This talk of margins led me to look up Tesla’s gross margin. 25%. I guess that is generous in the car industry. Our gross margin is not far off 3x that.

 

[WannabeOwner]

what’s my white Nov 19 SR+ worth 57k miles in a private sale ?

Probably worth a look on tesla-info.com for comparable examples. Deselect COLOUR for more examples etc.

You can click to drill-down for further details (particularly if it has been on the market for a while, or if VIN is available and has been seen/sold before)

 

[MrT3]

This talk of margins led me to look up Tesla’s gross margin. 25%. I guess that is generous in the car industry. Our gross margin is not far off 3x that.

Yes, for the industry it is good. Their operating margin is around 17% whereas competition such as VW group is around 5 to 8%.

 

[BelfastEV]

Wondering should I hedge my bets and order a MSM M3 as well as the MSM MY I just ordered . Incase I get into a situation where the insurance is crazy on a MY vs M3. Currently own a Nov-19 M3 SR+

 

[Lord Farquad]

Wondering should I hedge my bets and order a MSM M3 as well as the MSM MY I just ordered . Incase I get into a situation where the insurance is crazy on a MY vs M3. Currently own a Nov-19 M3 SR+

My experience in Dec was that a new MYLR was cheaper to insure than a year old M3SR+ via Admiral.
If you’re unsure, run quotes online or call your current provider.

 

[yessuz]

Got told they would update my finance to denote the latest price but I’d loose the supercharger miles - so still a win overall.

If you charge at home then SC mikes are very overrated. Covered 20k+ mikes in 11 months and used SC like 10 times or so so far. Total usage of sc maybe 600 miles

 

[yessuz]

But it is same as was at end 2021

Indeed M3LR is still more expensive (but maybe not after adjusting for inflation) than when I bought mine in 2019.

 

[Jeezy23]

If i were you i would probably return this car and request a full refund. You need to contact Tesla and put this is in writing within 30 days. They will try and stall you. If you miss the 30 day window it will become far more difficult to return the car. You should also stop driving it if possible and also leave it in the hands of your local service centre - speak to the manager to let him know your plan

Thanks - Spoke to Tesla today and they'll process a return and refund. Seemed a bit too straight forward. Will await the dealership who I purchased from to contact me now . . .

 

[94jdh]

If BIK raises quickly in 2025 then you should just sell the car to yourself when the value of it tanks even more, that's what I'm hoping for. (assuming it's your company)

Isn't benefit in kind rising at 1% a year after 2025? That's what I had read somewhere anyway.

 

[imstitch]

Isn't benefit in kind rising at 1% a year after 2025? That's what I had read somewhere anyway.

1% a year until 2028 I think. After that you know they'll try and milk EV owners for every last cent.

 

[oneear]

1% a year until 2028 I think. After that you know they'll try and milk EV owners for every last cent.

After that we can switch to ICE, Hybrid, Hydrogen or whatever fuel the government is pushing us towards

 

[Jason71]

1% a year until 2028 I think. After that you know they'll try and milk EV owners for every last cent.

since company cars are usually on a 3 year cylcle the generally publish the number at least 3 years in advance so you don't get stuck with much higher tax on an asset you leased for three years in good faith so hopefully we will know the post 2028 number well before we get hit with whatever it is. I would hope for a continued escalation rather than a blunt increase.

 

[McManus1806]

I got my MY LR on PCP in late Dec with 6k down for 890 p/m, final payment 18.7k. Today same car with same deposit and increased 1% APR is £850 p/m and 17.6k final payment. That’s an additional 3k for the 4 year deal, not small change for the sake of missing out by a couple of weeks. Slightly frustrating but then that’s sales of any product, you buy at a price you’re happy with at that time, if it goes up in the future great for you, if it goes down hard luck. I guess.

I received my MY RWD in early December. £3,500 down, £805pm 36 months with a final payment of circa £27k. And now the same car is £632 per month with a similar residual which is an instant loss of £6k as I managed to get a 5.9% interest rate.

I’m very brand loyal and have been with BMW for around 10 years, having moved to Tesla and doing PCP due to them saying I will have roughly £10k equity at the end to go towards my next Tesla I was excited to become very brand loyal to Tesla.

I’m certainly going into the dealership next week and kindly asking what they can do prior to a formal complaint. I can understand a car loosing value month by month but to slash £8k in 1 day is so unfair, especially for residual value and my car is now essential £15k in debt including interest after 1 month.

I can see that there are protests in china for demands on receiving partial refunds to make up for the slash in prices. If they are successful in receiving these refunds then I can’t see how Tesla can grant it for China and not the rest of the world.

I certainly won’t be buying another Tesla ever again if this is what they can do to customers fully knowing they can encourage people into buying in December thinking prices are going to increase going into next year and they plummet.

I’m trying not to rant but I feel like I have been completely ripped off as will thousands of other people once they realise the huge price drop, as I am assuming not that many people know yet.

Just had to post my rant and get it off my chest!!

 

[DoricJim]

I received my MY RWD in early December. £3,500 down, £805pm 36 months with a final payment of circa £27k. And now the same car is £632 per month with a similar residual which is an instant loss of £6k as I managed to get a 5.9% interest rate.

I’m very brand loyal and have been with BMW for around 10 years, having moved to Tesla and doing PCP due to them saying I will have roughly £10k equity at the end to go towards my next Tesla I was excited to become very brand loyal to Tesla.

I’m certainly going into the dealership next week and kindly asking what they can do prior to a formal complaint. I can understand a car loosing value month by month but to slash £8k in 1 day is so unfair, especially for residual value and my car is now essential £15k in debt including interest after 1 month.

I can see that there are protests in china for demands on receiving partial refunds to make up for the slash in prices. If they are successful in receiving these refunds then I can’t see how Tesla can grant it for China and not the rest of the world.

I certainly won’t be buying another Tesla ever again if this is what they can do to customers fully knowing they can encourage people into buying in December thinking prices are going to increase going into next year and they plummet.

I’m trying not to rant but I feel like I have been completely ripped off as will thousands of other people once they realise the huge price drop, as I am assuming not that many people know yet.

Just had to post my rant and get it off my chest!!

Sorry but final payment of 27k after 3y I reckon you will be lucky to be in much positive territory. They sold you a fast one stating 10k equity.

I had 22k final at end of 4y for M3LR and decided due to price cuts and residuals to just pay it off now and own the car longer term.

 

[DaveNN]

After that we can switch to ICE, Hybrid, Hydrogen or whatever fuel the government is pushing us towards

Or just buy our massively deprecated motors off the Co or Lease Co.

 

[WannabeOwner]

I can understand a car loosing value month by month but to slash £8k in 1 day is so unfair, especially for residual value and my car is now essential £15k in debt including interest after 1 month

Would you have ever known if BMW had done that? Only price you knew (I presume) was what you haggled with the salesperson ... you might have had the best deal that day/week/month ... or the worst ... and if BMW dropped the price to the dealer (which does happen) the following day unless you were specifically monitoring it you'd be none the wiser.

I can see that there are protests in china for demands on receiving partial refunds to make up for the slash in prices. If they are successful in receiving these refunds then I can’t see how Tesla can grant it for China and not the rest of the world.

Tesla have said they aren't going to offer any compensation and press is reporting that they haven't in the past when Chinese have protested either

History no guarantee of future behaviour of course

 

[EVMeister]

I received my MY RWD in early December. £3,500 down, £805pm 36 months with a final payment of circa £27k. And now the same car is £632 per month with a similar residual which is an instant loss of £6k as I managed to get a 5.9% interest rate.

I’m very brand loyal and have been with BMW for around 10 years, having moved to Tesla and doing PCP due to them saying I will have roughly £10k equity at the end to go towards my next Tesla I was excited to become very brand loyal to Tesla.

I’m certainly going into the dealership next week and kindly asking what they can do prior to a formal complaint. I can understand a car loosing value month by month but to slash £8k in 1 day is so unfair, especially for residual value and my car is now essential £15k in debt including interest after 1 month.

I can see that there are protests in china for demands on receiving partial refunds to make up for the slash in prices. If they are successful in receiving these refunds then I can’t see how Tesla can grant it for China and not the rest of the world.

I certainly won’t be buying another Tesla ever again if this is what they can do to customers fully knowing they can encourage people into buying in December thinking prices are going to increase going into next year and they plummet.

I’m trying not to rant but I feel like I have been completely ripped off as will thousands of other people once they realise the huge price drop, as I am assuming not that many people know yet.

Just had to post my rant and get it off my chest!!

1) Tesla doesn't have "dealerships".
2) You agreed to pay the price you paid.
3) You don't have a leg to stand on, legally.
4) You have the right to be upset or annoyed - but that is all. It won't help with your situation.

 

[James-R10]

1) Tesla doesn't have "dealerships".
2) You agreed to pay the price you paid.
3) You don't have a leg to stand on, legally.
4) You have the right to be upset or annoyed - but that is all. It won't help with your situation.

Well actually we do. We have distance selling regulations which is what we get as we don’t buy in store. Hence why they are refunding me the difference as it’s in the return period.

Same for finance cool of periods