Hahaha this is incredible. You get offered 34.6k from Tesla for your car, but yet the chap a few pages back gets offered 17k for his, and everyone loves it.I pick up a new MYP on thursday. I investigated private sales and Motorway etc but went with the 34.6k Tesla offered - this was for a 2019 M3P which has done around 18.5k miles. It's immaculate, full PPF, hardly used OEM tyres (I've been running on Cross Climates) and perfect rims. So someone will get a cracking car. All that said, prices are tumbling and the prospect of maybe getting a few thousand extra privately versus all of the hassle, did not appeal. The funniest offer was Kazoo - 24k- they're still busy sending me emails telling me not to miss their "excellent" offer - muppets. Motorway we closest, but still a couple of grand adrift of Tesla. I didn't bother with the plonkers at WBAC having received silly offers and cr@p service with other cars previously.
I've still managed 67% ish residual value after 3.5 years of motoring, so not too bad. That, plus 4 years new warranty, lower prices and a very flexible vehicle in the Model Y, made the decison quite easy. Pretty poor not to have USS but I'm "assured" that TeslaVision will be more than adequate. We'll see! I'm not interested in FSD and all of the other bits that don't work, so as long as I get some parking functionality back, I'll be OK with it. Hopefully the car is in good order come Thursday's pick up.
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[UK] used value of their Tesla cars plummeting?
- Thread starter Ricecooker
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MashinBenzin
Member
Was the chap a few pages back offering up an identical car at an identical time in identical circumstances? I’m not even sure it was an M3P, never mind mileage and condition (but happy to be corrected).
Nobody loved it, people pointed out why that valuation might have occurred and other options to explore. Tesla’s offer on that day, on that car, was just that, a one off datapoint. One car, one day, one buyer. There are always buyers out there that will pay more, or less. And cars that are worth more, or less. And days and circumstances that affect both. There isn’t a perfect glide slope to a universal value.
If anyone is keen to sell a Tesla right now, in a seemingly over-supplied market, I’d again suggest trying all of Carwow, Motorway and WBAC. And remember that the latter is a maximum figure, the others are guide prices. My Carwow and Motorway auctions, and Tootle before them, all exceeded the guide price significantly.
It’s not a love and hate emotional game, it’s just a market for a product that is readily available. If you want the best price, widen your pool of potential buyers.
Jason71
Well-Known Member
I'm sure you have nothing to worry about regarding the quality and timely delivery of the future promised Tesla vision parking software considering the track record of the company that brought us full self driving on time and as advertised.
Oh got to go my robo taxi just arrived
I take your point but my (minor) gamble is that it should be much easier for them to emulate USS than make FSD work. If they can't do that then they might as well forget the whole self-driving thing. For me personally, it's an inconvenience rather than a show stopper. I'm from an era where parallel parking on busy city streets without a reversing camera was the normI'm sure you have nothing to worry about regarding the quality and timely delivery of the future promised Tesla vision parking software considering the track record of the company that brought us full self driving on time and as advertised.
Oh got to go my robo taxi just arrived
but could you see out of the back window. vision out of the 3 rear window is shocking, simply shocking!I take your point but my (minor) gamble is that it should be much easier for them to emulate USS than make FSD work. If they can't do that then they might as well forget the whole self-driving thing. For me personally, it's an inconvenience rather than a show stopper. I'm from an era where parallel parking on busy city streets without a reversing camera was the norm
Jason71
Well-Known Member
It is my belief that they took away USS due to supply issues rather than because they thought they did not need them. If that was not the case they would have had the software ready BEFORE deleting them. That being the case whether or not its possible to do it properly without USS is up in the air as far as I am concerned. The fact that there is no camera on the front of the car and the windscreen one is blocked from seeing a chunk of space in front of the car does not bode well in my opinion. Neither does how long it is taking to release the softwareI take your point but my (minor) gamble is that it should be much easier for them to emulate USS than make FSD work. If they can't do that then they might as well forget the whole self-driving thing. For me personally, it's an inconvenience rather than a show stopper. I'm from an era where parallel parking on busy city streets without a reversing camera was the norm
They actually chose to do windscreen wipers without the normal sensors others use and they are marginal at best.
Sorry to be a downer. I hope I am wrong. good luck
Buy it for £18k then and flip it for £26k. Make £8k every day. Easy.
Don't get me wrong, I'd prefer the USS. However, for me not a show stopper. I drive maybe once or twice per week and most times with the missus on board. So an extra pair of eyes if needed. It shouldn't need that but for me it's there as an option most of the time. I also used to have a shunting licence for artics back in the day so I'm not averse to careful manouvering. If the circumstances were different for me, I'd probably be more vocal about the USS removal, but I'm pretty sure I'll cope.
A bit of a reality check these past couple of weeks as I eventually found a couple of the cars I've been looking for at the right price which meant the inevitable topic of trade in value would crop up.
So, my car is a Dec 21 LR, just shy of 5k miles and I've been offered between £26k and £28k ranging from a couple of dealers, Motorway etc. I don't actually want to see what WBAC would offer, that's enough to be going on with.
Now the concerning thing is that doesnt even come close to covering the outstanding finance on the car and when I bought mine on PCP, I paid a hefty deposit, so that is long gone too.
Obviously, it is what it is, but it does raise the question, for me anyway and maybe others as to what to do now and I personally think it boils down to 4 options;
I'm not saving on fuel, insurance is at least double what I would normally be paying and I couldn't care less about the environment or climate change mentalists so it really doesn't make an sense for me at all to keep the car, that is unless I can't afford to get shot of it.
So, my car is a Dec 21 LR, just shy of 5k miles and I've been offered between £26k and £28k ranging from a couple of dealers, Motorway etc. I don't actually want to see what WBAC would offer, that's enough to be going on with.
Now the concerning thing is that doesnt even come close to covering the outstanding finance on the car and when I bought mine on PCP, I paid a hefty deposit, so that is long gone too.
Obviously, it is what it is, but it does raise the question, for me anyway and maybe others as to what to do now and I personally think it boils down to 4 options;
- Continue paying for the car for another 3 years and then hand it back, walking away with nothing.
- Continue paying for the car for another 3 years and then pay the balloon paying which going by recent trends, could well be more than 3 times what the car will be worth by then.
- Cut my losses right now, get as much as I can for it and add the difference out of my piggy bank, pay off the finance, walking away with nothing.
- Trade the car in, again adding the difference out of my piggy bank to clear the finance, leaving me with nothing and start again with finance on another car, which will involve increased monthly payments due to interest rates and probably lack of a decent deposit (which is now long gone due to current valuations).
I'm not saving on fuel, insurance is at least double what I would normally be paying and I couldn't care less about the environment or climate change mentalists so it really doesn't make an sense for me at all to keep the car, that is unless I can't afford to get shot of it.
Sean.
Active Member
A real shame it’s not worked out for you.A bit of a reality check these past couple of weeks as I eventually found a couple of the cars I've been looking for at the right price which meant the inevitable topic of trade in value would crop up.
So, my car is a Dec 21 LR, just shy of 5k miles and I've been offered between £26k and £28k ranging from a couple of dealers, Motorway etc. I don't actually want to see what WBAC would offer, that's enough to be going on with.
Now the concerning thing is that doesnt even come close to covering the outstanding finance on the car and when I bought mine on PCP, I paid a hefty deposit, so that is long gone too.
Obviously, it is what it is, but it does raise the question, for me anyway and maybe others as to what to do now and I personally think it boils down to 4 options;
I'm personally looking at losses circa £24k for 13 months of ownership and that's not counting anything additional I'll need to pull together for a deposit for another car and what makes it worse is how much I actually hate the car and how massively disappointed I have been with it, with Tesla as a whole actually. It wouldn't feel so bad if I actually liked the car.
- Continue paying for the car for another 3 years and then hand it back, walking away with nothing.
- Continue paying for the car for another 3 years and then pay the balloon paying which going by recent trends, could well be more than 3 times what the car will be worth by then.
- Cut my losses right now, get as much as I can for it and add the difference out of my piggy bank, pay off the finance, walking away with nothing.
- Trade the car in, again adding the difference out of my piggy bank to clear the finance, leaving me with nothing and start again with finance on another car, which will involve increased monthly payments due to interest rates and probably lack of a decent deposit (which is now long gone due to current valuations).
I'm not saving on fuel, insurance is at least double what I would normally be paying and I couldn't care less about the environment or climate change mentalists so it really doesn't make an sense for me at all to keep the car, that is unless I can't afford to get shot of it.
What cars are you looking to replace it with?
Lord Farquad
2022 MYLR W/B/20s/Tow bar. Previously 2021 M3SR+
You may find a decent bounce in used Tesla prices in about 12 months time. At the 3 year anniversary of lockdown we won’t see the usual supply of 3 year old lease/pcp cars entering the market. This supply shortage may well cause used cars to strengthen.
Selling a new car after 12months has historically been the worst time to sell (cars tend to have a steep depreciation curve in year 1 which flattens out to a more gradual one by year 3).
If used Tesla’s are worth less than 50% of their sale price after 3 years that’d be quite surprising.
Selling a new car after 12months has historically been the worst time to sell (cars tend to have a steep depreciation curve in year 1 which flattens out to a more gradual one by year 3).
If used Tesla’s are worth less than 50% of their sale price after 3 years that’d be quite surprising.
The other thing is advertise on auto trader as long you are the lowest cost it will sell that’s all the traders do you cant buy one of those cars for those prices privately stick the add on and see if you get a buyer price the car lowest in the country that’s all dealers do they offer low ball in case they have to sit on the car for a while
Teslas are popular and private sales are very much possible if priced right
Teslas are popular and private sales are very much possible if priced right
I'd sit tight.A bit of a reality check these past couple of weeks as I eventually found a couple of the cars I've been looking for at the right price which meant the inevitable topic of trade in value would crop up.
So, my car is a Dec 21 LR, just shy of 5k miles and I've been offered between £26k and £28k ranging from a couple of dealers, Motorway etc. I don't actually want to see what WBAC would offer, that's enough to be going on with.
Now the concerning thing is that doesnt even come close to covering the outstanding finance on the car and when I bought mine on PCP, I paid a hefty deposit, so that is long gone too.
Obviously, it is what it is, but it does raise the question, for me anyway and maybe others as to what to do now and I personally think it boils down to 4 options;
I'm personally looking at losses circa £24k for 13 months of ownership and that's not counting anything additional I'll need to pull together for a deposit for another car and what makes it worse is how much I actually hate the car and how massively disappointed I have been with it, with Tesla as a whole actually. It wouldn't feel so bad if I actually liked the car.
- Continue paying for the car for another 3 years and then hand it back, walking away with nothing.
- Continue paying for the car for another 3 years and then pay the balloon paying which going by recent trends, could well be more than 3 times what the car will be worth by then.
- Cut my losses right now, get as much as I can for it and add the difference out of my piggy bank, pay off the finance, walking away with nothing.
- Trade the car in, again adding the difference out of my piggy bank to clear the finance, leaving me with nothing and start again with finance on another car, which will involve increased monthly payments due to interest rates and probably lack of a decent deposit (which is now long gone due to current valuations).
I'm not saving on fuel, insurance is at least double what I would normally be paying and I couldn't care less about the environment or climate change mentalists so it really doesn't make an sense for me at all to keep the car, that is unless I can't afford to get shot of it.
Anything can and will happen between now and then.
Jason71
Well-Known Member
A bit of a reality check these past couple of weeks as I eventually found a couple of the cars I've been looking for at the right price which meant the inevitable topic of trade in value would crop up.
So, my car is a Dec 21 LR, just shy of 5k miles and I've been offered between £26k and £28k ranging from a couple of dealers, Motorway etc. I don't actually want to see what WBAC would offer, that's enough to be going on with.
Now the concerning thing is that doesnt even come close to covering the outstanding finance on the car and when I bought mine on PCP, I paid a hefty deposit, so that is long gone too.
Obviously, it is what it is, but it does raise the question, for me anyway and maybe others as to what to do now and I personally think it boils down to 4 options;
I'm personally looking at losses circa £24k for 13 months of ownership and that's not counting anything additional I'll need to pull together for a deposit for another car and what makes it worse is how much I actually hate the car and how massively disappointed I have been with it, with Tesla as a whole actually. It wouldn't feel so bad if I actually liked the car.
- Continue paying for the car for another 3 years and then hand it back, walking away with nothing.
- Continue paying for the car for another 3 years and then pay the balloon paying which going by recent trends, could well be more than 3 times what the car will be worth by then.
- Cut my losses right now, get as much as I can for it and add the difference out of my piggy bank, pay off the finance, walking away with nothing.
- Trade the car in, again adding the difference out of my piggy bank to clear the finance, leaving me with nothing and start again with finance on another car, which will involve increased monthly payments due to interest rates and probably lack of a decent deposit (which is now long gone due to current valuations).
I'm not saving on fuel, insurance is at least double what I would normally be paying and I couldn't care less about the environment or climate change mentalists so it really doesn't make an sense for me at all to keep the car, that is unless I can't afford to get shot of it.
So as others have said the best thing to do is to wait the prices will come back or at least stabilise. Would not suprise me if in a years time it is worth the same or more than it is now.
The trade does not want more EV's right now, we get it, various factors have combined to make now a really really bad time to sell but if you really want rid then put it on Autotrader. The cheapest car matching your spec and mileage is £40,000 put it on there at £35k and you would probably sell it in a day. Put it on at £40K and see what happens
Also
Option2? why is that even on there? how does that make any sense at all?
MashinBenzin
Member
Don’t panic. Appreciate it’s a pain being stuck in a crappy car that hasn’t met expectations, but, first world problems, it’s still an ok car really.A bit of a reality check these past couple of weeks as I eventually found a couple of the cars I've been looking for at the right price which meant the inevitable topic of trade in value would crop up.
So, my car is a Dec 21 LR, just shy of 5k miles and I've been offered between £26k and £28k ranging from a couple of dealers, Motorway etc. I don't actually want to see what WBAC would offer, that's enough to be going on with.
Now the concerning thing is that doesnt even come close to covering the outstanding finance on the car and when I bought mine on PCP, I paid a hefty deposit, so that is long gone too.
Obviously, it is what it is, but it does raise the question, for me anyway and maybe others as to what to do now and I personally think it boils down to 4 options;
I'm personally looking at losses circa £24k for 13 months of ownership and that's not counting anything additional I'll need to pull together for a deposit for another car and what makes it worse is how much I actually hate the car and how massively disappointed I have been with it, with Tesla as a whole actually. It wouldn't feel so bad if I actually liked the car.
- Continue paying for the car for another 3 years and then hand it back, walking away with nothing.
- Continue paying for the car for another 3 years and then pay the balloon paying which going by recent trends, could well be more than 3 times what the car will be worth by then.
- Cut my losses right now, get as much as I can for it and add the difference out of my piggy bank, pay off the finance, walking away with nothing.
- Trade the car in, again adding the difference out of my piggy bank to clear the finance, leaving me with nothing and start again with finance on another car, which will involve increased monthly payments due to interest rates and probably lack of a decent deposit (which is now long gone due to current valuations).
I'm not saving on fuel, insurance is at least double what I would normally be paying and I couldn't care less about the environment or climate change mentalists so it really doesn't make an sense for me at all to keep the car, that is unless I can't afford to get shot of it.
The current situation is a huge imbalance in supply and demand. Demand for s/h Teslas is probably approximately what it was six months ago. Supply, however…lots of early cars coming off lease and lots of M3 owners trading for MY, followed by oversupply into the new market by Tesla and then price cuts. It’s a perfect storm.
Dealers have overpaid in Q3/Q4 and are stuck with stock that’s hard to shift against the new prices. The last thing they want is another Tesla, unless they can get it so cheap that the likely margin is massive. Oh and people are fearing economic doom and gloom.
Fast forward two years, we will be the other side of a recession (or one won’t have happened) unless someone starts or escalates a war. who knows how new supply versus demand will look, but cars of any sort registered in 2020-2022 will be starting to look very attractive - demand for 2-4 year old cars will be more in balance with supply. That’s thanks to around 2.5m less new cars being registered versus recent comparable 3 year periods. That’s a lot of supply removed, forever.
Right now, this quarter or half year, could turn out to be the very worst time to get out of your car. If youre paying PCP any new PCP will also be at a higher rate of interest.
No crystal ball, just my take on things.
Unpopular opinion perhaps but I’m confused as to why people think they should profit or even break even on financing compared to having bought the car with cash and dealt with depreciation?
It’s not something for nothing. You’re getting a car for a monthly cost that you wouldn’t be able to enjoy otherwise (disregarding the small minority of customers who could afford to buy outright but chose to use the capital elsewhere).
Yes ir sucks that you’re in negative equity early into the contract, but it strikes me that this is the cost of financing.
It’s not something for nothing. You’re getting a car for a monthly cost that you wouldn’t be able to enjoy otherwise (disregarding the small minority of customers who could afford to buy outright but chose to use the capital elsewhere).
Yes ir sucks that you’re in negative equity early into the contract, but it strikes me that this is the cost of financing.
I get what is being said. But at face value a £24k loss is pretty harsh. I sold a 2 year old LR this time last year with far more miles for a £5k ‘loss’. Doubt this will happen again, but yeh It’s absolutely the worst time to sell. Sit tight, see what happens. It’s all over the shop currently with used values.
This is a temporary situation. Tesla have got it wrong big time with opening 3 new gigafactories too quickly without the ability to produce visually new models or widening the model and colour range. The good thing is that it has reduced their ability to continue to increase prices particularly in countries where the GDP is not significantly increasing. It is particularly difficult in the UK with no EV subsidies and sharply increased electic prices caused by the price being fixed to gas? Ridiculous!
Tesla will cut back the supply rather than reduce the price a second time. The shortage of second hand cars ncaused by the shortage of new cars over the past 2 years will kick in and the ceonomy here is forecast to start to grow again next year. Sit tight for now.
Tesla will cut back the supply rather than reduce the price a second time. The shortage of second hand cars ncaused by the shortage of new cars over the past 2 years will kick in and the ceonomy here is forecast to start to grow again next year. Sit tight for now.
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