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Unhappy with the Resale value for my 2019 Model 3

dmurphy

Buster: 11/25/14 - 6/20/21. So sorely missed.
Dec 7, 2018
3,625
4,844
New Jersey - Morris County
Also, I believe in CA, buying new is very preferable, since you get HOV stickers. Used cars wouldn’t.
I’m all the way on the opposite coast so not too familiar with all the ins and outs of the program, but if you’re asking for just a few K less than a brand new car, those HOV stickers carry a crazy value and could very well steer people away from your car into something new.
 
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Apr 7, 2021
682
322
Inland Empire, California
You don’t get sales Tax Credit in California.

OP Carvana is your best option to sell your Model 3. Part of the reason you aren’t getting any offer is because there are just too many options available right now with California State incentives. You might be lucky to get $40k
California only offering the 1500 bucks at POS. The CVAP and CVRP are exhausted for this year and no tax credit available...

The other key I think is older Model 3 and too many newer ones available maybe...wierd thought cause used car sales are HOT right now. my 18 prime KBB went from 15k to 20k in the last few months.
 

LionXng

Member
Mar 4, 2020
269
373
Virginia
I have a 2019 LR AWD, 7800miles, clean all over. Supercharged 700 miles, battery shows 315mi range at 100%.

Wanted to upgrade to a Model S for more space.

Put the Model 3 for sale, its been 2 weeks and zero interest. Was asking 45k. 2 people asked if it was still avail then no reply.

I sold my 2017 mazda miata with 27k miles 4 months ago after 3 weeks of advertising. over 10 inquiries in 3 weeks. Sold for 1k less than i asked.

Kbb does not include the m3 in its instant cash offer feature... Why? I guess they know demand is low. Tons of m3 on used car sites. Telsa offering me at most 40k trade-in.

Conclusion if you are considering: fantastic car but still no used market. All the talk of teslas retaining their values is BS, prob no better than a chrysler.

PS i live in CA, the supposed hotbed for EVs.
You are mad because no one immediately bought your 2 year old used car for $3k less than full retail price of a brand new one?

When you bought your car new; if they offered you a demo car with 700 miles on it, how much of a discount would you expect? What if it was a demo car but two years old with 7800 miles? I would expect a more than 3k off.
 

IChillinz

Member
Mar 19, 2021
57
46
Milwaukee, WI
Be patient. It will sell. I bought my used M3 with 19‘s upgraded white interior, Grey, 21,000 miles, built 3/19 from Tesla that had FSD and speed boost activated for 43,800 in march. Right now that same car with spec’s is going for over 50,000 to 54000 on Tesla’s site. Im guessing its because of the chip shortage and basic rule of supply and demand.

I’m sooooooooo glad I got mine when i did.

It doesnt look like you have FSD which hurts your resale price some. The other thing is where do you have it listed? Market it somewhere so more eyes get on it. Be specific for the features. I hated looking at add’s and they didnt have details of what features it came with. That could be a huge cost difference for upgrades after purchase so often if they didnt specify, I totally skipped the add because didnt want to get it home assuming it had a feature and then it didnt have it.

but lastly for me when I was looking, i first looked at cars.com, caravan, current automotive. But when i saw tesla giving an additional year warranty and 10,000 miles and usually throws in speed boost if not having the price of FSD worked into the cost some, i only wanted to buy from Tesla.

Got family somewhere else outside Cali? Maybe get it to them and sell in their local area. I know Cali is saturated with Teslas so may not sell as easy as other regions that they dont have as many as people still wanting them.

Just some ideas
 

El joe

Member
Jan 29, 2019
600
486
SF Bay Area, CA
Also, I believe in CA, buying new is very preferable, since you get HOV stickers. Used cars wouldn’t.
It depends on whether the car has had them issued previously or not. I bought a 2018 last year and it was shipped to me by Carvana from Phoenix and I just got new HOV stickers last month because my Model 3 had never been issued HOV stickers before.
 
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jjrandorin

Moderator, Model 3, Tesla Energy Forums
Nov 28, 2018
9,484
10,653
Riverside Co. CA
It depends on whether the car has had them issued previously or not. I bought a 2018 last year and it was shipped to me by Carvana from Phoenix and I just got new HOV stickers last month because my Model 3 had never been issued HOV stickers before.

Yeah DMV has a whole database / list of vins that have had the stickers before. For some people that could be a big deal. In this case, however, the OP said:

"Tesla resale value sucks, because I cant sell the car for a few K less than I bought it for, almost 2 years later, and oh I didnt even look at the price of a new one when I priced my used car... but I am still upset".

You're right, i didnt bother to check new prices. Mine is blue with acceleration so its more like 50k. Nevertheless the used car sites dont seem to consider current pricing. Low 40k seem appropriate but still no interest whatsoever....that is surprising.

I sold used cars twice, theres always some dude offering a ridiculous lowball price but so far not even a lowball.
 
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Zacster

Member
Sep 11, 2017
171
83
NYC
I walked into a computer store (remember those?) one day about 15-20 years ago. Some smarmy salesman overheard me say to a colleague that they were overpriced and tried to do the hard sell routine so I asked him "what's the difference between this watch and this computer?" pointing to my Swiss watch. So I told him, "a year from now it will still be worth $1500". The same is true with a Tesla. Last year's model just lost a bunch of value. Don't buy one as an investment, don't buy any car as an investement. The worst is probably BMW. They are mass produced in the US but still command a new price like they are hand built in Germany. You find out pretty quickly that they drop about 25% of their value the minute you drive off, and by the time your lease is up they can barely be sold by neither you nor the dealer. I never bought one myself and in fact I started my car search by looking at used BMWs but just had this feeling there were way too many available, plus they are expensive to maintain. Also, higher financing rates eat into the savings you may be offered.

I bought my M3 with eyes fully open that it wouldn't command anywhere near what I paid for it in a few years. And I still have that Swiss watch and it is still worth about $1500.
 
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KenC

Active Member
Sep 4, 2018
3,602
3,271
Maine
I have a 2019 LR AWD, 7800miles, clean all over. Supercharged 700 miles, battery shows 315mi range at 100%.

Wanted to upgrade to a Model S for more space.

Put the Model 3 for sale, its been 2 weeks and zero interest. Was asking 45k. 2 people asked if it was still avail then no reply.

I sold my 2017 mazda miata with 27k miles 4 months ago after 3 weeks of advertising. over 10 inquiries in 3 weeks. Sold for 1k less than i asked.

Kbb does not include the m3 in its instant cash offer feature... Why? I guess they know demand is low. Tons of m3 on used car sites. Telsa offering me at most 40k trade-in.

Conclusion if you are considering: fantastic car but still no used market. All the talk of teslas retaining their values is BS, prob no better than a chrysler.

PS i live in CA, the supposed hotbed for EVs.
So, we're comparing a lightly used blue LR-AWD with the $2000 perf upgrade, for $45k, when a similarly spec'd new blue LR-AWD with the $2k perf upgrade would cost $50k. A $5k difference for 7800 miles used, and a battery showing 315miles of range, when the new one is rated for 353miles of range. I dunno, I think you need to be patient. Someone may buy it, but that's not a no-brainer good deal for a used 3.
 

dinonugget

Member
Aug 30, 2020
113
165
US
Some people will pay a premium to not have to wait 4-12 weeks. It's not just Teslas, either. I sold my Jeep Gladiator to a dealership for $1500 more than what I paid for it. The used car market is insane right now.
Like the imbecile in the news who was arrested for driving in the back seat with no driver, just to do it again after he was released? How else can you get a replacement vehicle immediately?
 
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El joe

Member
Jan 29, 2019
600
486
SF Bay Area, CA
Yeah DMV has a whole database / list of vins that have had the stickers before. For some people that could be a big deal. In this case, however, the OP said:

"Tesla resale value sucks, because I cant sell the car for a few K less than I bought it for, almost 2 years later, and oh I didnt even look at the price of a new one when I priced my used car... but I am still upset".
For sure. When I bought my Prius, I remember the salesman telling me that HOV stickers can up the price $2-3,000. And when I bought my Bolt, there was an uptick of about that much because it already had HOV stickers, which are an amazing addition for us Californians that need to commute.
 

Sam1

Active Member
Sep 11, 2019
1,029
929
NV
You're right, i didnt bother to check new prices. Mine is blue with acceleration so its more like 50k. Nevertheless the used car sites dont seem to consider current pricing. Low 40k seem appropriate but still no interest whatsoever....that is surprising.

I sold used cars twice, theres always some dude offering a ridiculous lowball price but so far not even a lowball.
you're also talking about a 2 year old car that gets nearly 20% less range than a new one for just a few grand more.
 
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ry-ballz

Member
Mar 13, 2019
357
477
Colorado
The reason people aren't buying it, is because you're essentially asking 5-10% off a brand new, refreshed model, for your 2 year old used car.

*sugar*, depending on the state tax rebates, it's possible you're even asking more than someone could get a new one.
 
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Pyre

Member
Apr 10, 2021
291
142
Syracuse, NY
I just overpaid for a 2019 M3P with FSD, Martian rims, UP springs+sway bars, and general PPF for 48k due to 55k miles. The warranty is out on mine for mileage, warranty in 18 is basically out soon for time.

I hope that miles on an EV mean less than ICE. Only thing i note is battery degradation with more miles
 

BrianBigNFun

Giver of snark
Mar 31, 2021
253
432
North Wales PA
When I used to sell Cadillacs back in the 90’s we’d used to joke as they drove off with their new car, “well he just lost $20k in depreciation”
Wasn’t that big of an exaggeration
 
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SFLM3P19

Member
Feb 16, 2021
44
33
South Florida
i dont usually buy used cars...in fact the model 3 Perf 2019 was my first and it had 8k miles.

I would NEVER buy a used tesla from a private owner.... did you list it yourself?
purchased mine direct from tesla, fully loaded, FSD, 55k in Feb.
 

jjrandorin

Moderator, Model 3, Tesla Energy Forums
Nov 28, 2018
9,484
10,653
Riverside Co. CA
People normally buy used because they have been trained that for most cars, buying a lightly used car is the "best deal" because the first owner already ate all the depreciation.

I am still having a hard time (frankly), wrapping my head around the OP of this thread posting a thread that basically is complaining that their 2 year old car did not immediately sell, when they priced it like 6k below a new one (not counting any new car rebates etc that someone might get).

In the case of used tesla model 3s, and buying used, anyone who can afford to pay 45k for a used one can also afford to pay 52k for a new one. Especially if financing it, because new car financing is almost always a lower interest rate than a used vehicle, so the payment on both cars is going to be similar.

I have bought used cars before of course, but in the case of model 3s, just because the delta between new and used is "fairly small" relatively speaking. The flip side of that is, its not likely to have a bunch of engine issues with a model 3, so higher mileage for THAT shouldnt be a huge deal for most.

There are likely to be smaller things, just like any other used vehicle. It should be cheaper to keep a tesla running for a long period than it would be to keep, say, a BMW / Audi / Mercedes. It may not be much cheaper than keeping your typical toyota / honda running however, as most people who own ICE versions of those cars drive them into the ground, and they are not that expensive to fix.

I dont think there is anything at all wrong with buying a used model 3, I am not saying that. I am just saying that the delta between new and used is relatively small, and anyone who can afford to spend 45k for a used one can also afford to spend 52k for a new one even if they dont want to.
 

coleAK

Member
Oct 23, 2018
889
606
Alaska
I’ll add to this. I (somewhat) jokingly call myself a car addict in recovery. I sold cars (Porsche) when I was in undergrad and the summers in professional school it fueled my addiction later in life... I had a period from the late 1990s to mid 2000 where my wife or I got a new car every 2-3 years mostly German brands and track cars, lost a ton of money. Then switched to buying <2 year old lease returns, dealer demos and keeping them for a while. Last few I bought: 1 year old g500 dealer demo, 7k miles paid $25k (~20% off) less then sticker and it was considered “new”. LX570 2 year old 12k miles lease return, mint truck paid $35k (~33% off) and it had the CPO Lexus extended warranty. These are 2 trucks that have limited availability are tough to find and historically have amazingly high resale value. Both of these were bought at dealers. We bought our LR AWD as soon as we could, delivered Sept 2018.

Personally for me from a private seller I wouldn’t pay more then $30k for a 2 year old car I could buy new for $50k. May go as high as $35k from a dealer with an CPO extended warranty. If I had to pay more then that I’d buy new. But good luck.

I’ll also add unless you need an enormous trunk not gaining any space going to an S. The inside space is not noticeably larger unless they did something remarkable with the new re-design. We went from an S to a 3 and I know a few other people that did the same. I haven’t had a moment in over 2.5 years I have missed the S.
 
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