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[UK] used value of their Tesla cars plummeting?
- Thread starter Ricecooker
- Start date
- Status
While refusing to list them on Autotrader for what many people would pay that is significantly more then what they trade could buy replacement stock for at present.
I hear what everybody is saying here. However there is no real reason why Tesla should suddenly adopt depreciation %ages that WBAC etc are telling us. It is simply oversupply of second hand vehicles of this type. The dealers who have got themselves in a mess by holding stock too long and got caught by the reduction in Tesla prices and ample supply of new Teslas need to bite the bullet and sell those stocks at real current values.
Any buyer of an EV will soon learn that they need a Tesla if they are to travel long distances. The Supercharger remains Teslas biggest selling point for now!
Any buyer of an EV will soon learn that they need a Tesla if they are to travel long distances. The Supercharger remains Teslas biggest selling point for now!
Jason71
Well-Known Member
Mat Watson at Carwow agrees with you. Latest vid - it might be the perfect car.
And he was praising the tech, that for the first time a BMW now comes with indicators....
I have just put my M3LR in WBA and nearly fell off my seat - I paid £51k last March and WBA valued it at £30k . . . . NEVER in my life have a I seen a 40% depreciation on a car after just one year. Add to that - it was expensive to buy and it's expensive to insure, it will be a cold day in hell before I buy another Tesla.
Jason71
Well-Known Member
Whe the used prices were going up they were some times really good. People have forgotten they should be for last resort or quick sale not the best price. Remember the old price guides? Do they still exist? Three prices. Dealer, Private, Trade. Trade was always crap. WBAC are Trade.
MashinBenzin
Member
WBAC buy cars that then go through BCA auctions, aiming to sell at a profit over what WBAC paid, to a trader who will then need to take further profit.
Motorway is an auction direct to the traders and large dealer network buyers. As is Carwow.
If your car is in demand at a particular dealer (ideally a few dealers) you’ll likely see a better price through the latter route where there is one less middleman and usually a buyer who actively wants the vehicle (whereas WBAC are buying what their data says the buyers want, a slight but potentially important difference).
WBAC prices are a guarantee (with the risk of deductions), Motorway prices are an estimate based on recent sales.
Good to gather the price data from both when working out what your car might be worth.
Motorway is an auction direct to the traders and large dealer network buyers. As is Carwow.
If your car is in demand at a particular dealer (ideally a few dealers) you’ll likely see a better price through the latter route where there is one less middleman and usually a buyer who actively wants the vehicle (whereas WBAC are buying what their data says the buyers want, a slight but potentially important difference).
WBAC prices are a guarantee (with the risk of deductions), Motorway prices are an estimate based on recent sales.
Good to gather the price data from both when working out what your car might be worth.
Not all. They also own/retail through Cinch (also owned by BCA, who also owns WBAC)
MashinBenzin
Member
Thanks, I was pretty sure that there was something they retailed via. My brain was telling me Cazoo but I knew that was wrong! I guess they would be paying more for cars they need for Cinch rather than those they are punting out at auction.Not all. They also own/retail through Cinch (also owned by BCA, who also owns WBAC)
I spent a year checking my Disco price on both Motorway and WBAC before eventually selling, one was usually a couple of k more than the other, but the leader varied a lot.
It's a good business model for them. They will pick the best of the bunch and retail and flog the rest at auction and maybe even to scrap yards!
Leytonstone
You're mistaken
Since new my 2020 MSLR has eaten the price you paid for your M3LR new. And you have to laugh at EV proponents talking about switching energy providers and servicing and brake pads when depreciation is the biggest cost by far.
My depreciation alone is enough to brim the tank of an M3 Touring several times a month for at least a decade
MashinBenzin
Member
Haha I ran two £80k Discoveries for 3 years for a net cost of about £10k. 5 months in a Tesla has cost £22k. Sure is a lot of fuel and servicing.Since new my 2020 MSLR has eaten the price you paid for your M3LR new. And you have to laugh at EV proponents talking about switching energy providers and servicing and brake pads when depreciation is the biggest cost by far.
My depreciation alone is enough to brim the tank of an M3 Touring several times a month for at least a decade
Whilst factual, i don’t think this will continue quite as badly and we will probably be generally looking at 50% loss over 3 years like any mass market car. Very bad news right now for anyone that has a genuine need to sell and I do feel for them.
MashinBenzin
Member
NB. Meant to say….if nothing else, the Model Y is far too perfect as an urban/semi-urban taxi for values not to plateau. I’ve already seen a couple of MY taxis around here and that’s going to be a really strong market for the car s/h.
MashinBenzin
Member
Yeah call me a pessimist on thatYeah. The price will shoot up by then end of the year when they're all robotaxis
but as a Prius replacement, pretty good.- Status
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