Used 70D Pricing

[JPUConn]

I may have found the right first Tesla for me. It's a Blue 70D, Pano Roof, Subzero, black Napa(not next gen), and autopilot enabled.

Brand new this was an ~82k car less the $7500 rebate and this particular car was sold as an inventory vehicle with 5k miles on it so the owner likely got a great deal then. I'm still awaiting photos, vin and current mileage but the seller is asking $68,500. Does the $1/mile 1%/month apply to this car?

i drive 20-22k miles/yr so I'm looking to pick the car up for a decent price and drive it until ~40k miles and resell for hopefully high 50's

 

[rxlawdude]

I may have found the right first Tesla for me. It's a Blue 70D, Pano Roof, Subzero, black Napa(not next gen), and autopilot enabled.

Brand new this was an ~82k car less the $7500 rebate and this particular car was sold as an inventory vehicle with 5k miles on it so the owner likely got a great deal then. I'm still awaiting photos, vin and current mileage but the seller is asking $68,500. Does the $1/mile 1%/month apply to this car?

i drive 20-22k miles/yr so I'm looking to pick the car up for a decent price and drive it until ~40k miles and resell for hopefully high 50's

Unless you're buying from Tesla directly, the $1/mile 1%/month doesn't apply. Beware that you will NOT be able to offer an extended warranty to whomever purchases it when you sell.

 

[David_Cary]

So the owner got it for $70k - so he'll probably take $65k. If you think you can sell that for anything over $55k in 2 years you are absolutely dreaming.

At that point, the warranty will almost be done. The residual at 3 years 45k is about $41k. The RVG would be more like $38k. A new model 3 will be available and will probably have similar range and similar options and sell for $50k. Sure the S will be bigger but the buyer pool will be smaller because the 3 will be available.

 

[MP3Mike]

i drive 20-22k miles/yr so I'm looking to pick the car up for a decent price and drive it until ~40k miles and resell for hopefully high 50's

Dream on! Have you looked at what Tesla is, or was, selling as a CPO, with a full 4-years/50k warranty, in the high 50s? And you think with essentially 0 warranty you are going to be able to get that?

 

[mshuang]

I may have found the right first Tesla for me. It's a Blue 70D, Pano Roof, Subzero, black Napa(not next gen), and autopilot enabled.

Brand new this was an ~82k car less the $7500 rebate and this particular car was sold as an inventory vehicle with 5k miles on it so the owner likely got a great deal then. I'm still awaiting photos, vin and current mileage but the seller is asking $68,500. Does the $1/mile 1%/month apply to this car?

i drive 20-22k miles/yr so I'm looking to pick the car up for a decent price and drive it until ~40k miles and resell for hopefully high 50's

Given that it's less than a year old (the 70s didn't appear until Apr/May of 2015), It's highly unlikely you'll be able to resell it in a year or more after 40k miles and get high 50s... I think it's more reasonable to assume high 40s, low 50s.

I also think 68,5 is bit much for a 70D. I'd definitely look at what's available on the CPO/Inv to see if there's something similar available.

 

[JPUConn]

Thanks for the replies - they are in line with what I was thinking but the excitement of getting my first Tesla almost overpowered my common sense.

 

[zer0cool]

To be honest, any expensive luxury/sport car is a very bad choice if you drive 20+k miles per year... the car will be pretty much worthless after just a few year... really a 2 year old Tesla with 50k miles will likely sell as little as a 4 year old car (it will be somewhat more due to being less aged).

I expect a 4 year-old 70D with 50-60k mies to sell for upper 30's, just say $38k. So a 2 year-old with 50k miles, let's just say maybe $43k. On the other hand, a 2 year old with regular mileage (25k miles) will likely sell in the mid 50's.

If you drive that many miles, and assuming you don't want to spend that much money on car, I would suggest a 2013 Lexus GS maybe (I had this car, it's good and would recommend)... Find a lower miled one, like below 30k miles today. Probably upper $20s to lower $30's today, and after 5 year by you and 100-120k miles, probably can still sell for $10k.

 

[whitex]

To be honest, any expensive luxury/sport car is a very bad choice if you drive 20+k miles per year... the car will be pretty much worthless after just a few year... really a 2 year old Tesla with 50k miles will likely sell as little as a 4 year old car (it will be somewhat more due to being less aged).

I expect a 4 year-old 70D with 50-60k mies to sell for upper 30's, just say $38k. So a 2 year-old with 50k miles, let's just say maybe $43k. On the other hand, a 2 year old with regular mileage (25k miles) will likely sell in the mid 50's.

If you drive that many miles, and assuming you don't want to spend that much money on car, I would suggest a 2013 Lexus GS maybe (I had this car, it's good and would recommend)... Find a lower miled one, like below 30k miles today. Probably upper $20s to lower $30's today, and after 5 year by you and 100-120k miles, probably can still sell for $10k.

Heh? What kind of crazy talk is that? ;-) If you drive a lot don't buy a nice car? How about, if you drive a lot, get a car you will enjoy since you will be spending a lot of time in it. I can't think if a more enjoyable car to drive than the Model S. Car is not an investment, which means it will start depreciating the moment you get it, so get what you can afford that you are going to enjoy driving, unless of course you buy a car just to show off, then by all means, garage it 6 days a week - it will depreciate slower, which can help but only if you try to sell it later (which you won't have to since the car with such low miles should have a lot of driving left in it).

When I was young and single I kept 2 cars, Toyota 4Runner and a Porsche 911C4, got them both new. 911 was my daily driver, 4Runner for shopping for anything more than can fit in its "frunk", or more than 1 passenger trips (back seats are tiny). I had a number of people tell me I'm crazy to use the 911 as my daily driver because "putting miles on in devalues it". Well, I buy cars that I enjoy to drive, so why would I limit driving them? My best guess those are the people who buy nice cars to keep them in the garage only to pull them out every weekend to show off to the neighbors.

zer0cool, if on the other hand you argument is that there are cheaper driving alternatives than Model S, then I completely agree. Nobody buys a Model S as the cheapest way to drive (the cost of the car depreciation alone will outweigh any gas costs when compared to econo-cars).

 

[PDFS]

I drive 30 to 38K per year. typical day is 120 plus Monday through Friday and 20 to 30 miles Saturday and Sunday. I spend more time in my car than I do in my living room. I want to be comfortable and feel good in my car. I want leather seats and a sunroof. I also drive my cars until they are no longer worth much. My 2010 prius has just over 200k My last two cars before that each had between 225K to 250K Someday I am going to hit 300K So I am not concerned about resale only riding in a car I do not hate. My prius is a car I do not hate but I am not in love with it. I am thinking I will love a Tesla

 

[andrewket]

Unless you're buying from Tesla directly, the $1/mile 1%/month doesn't apply. Beware that you will NOT be able to offer an extended warranty to whomever purchases it when you sell.

The OP says owner1 bought an inventory car, not CPO. So, as part of the purchase agreement between owner1 and soon-to-be owner2, owner1 could purchase the extended warranty. You can transfer it; owner2 just can't buy it directly from Tesla. If I was an owner2, this is what I would do.

 

[Ruby&Red]

Another option

I may have found the right first Tesla for me. It's a Blue 70D, Pano Roof, Subzero, black Napa(not next gen), and autopilot enabled.

Brand new this was an ~82k car less the $7500 rebate and this particular car was sold as an inventory vehicle with 5k miles on it so the owner likely got a great deal then. I'm still awaiting photos, vin and current mileage but the seller is asking $68,500. Does the $1/mile 1%/month apply to this car?

i drive 20-22k miles/yr so I'm looking to pick the car up for a decent price and drive it until ~40k miles and resell for hopefully high 50's

My 70D, which is white, also had an original price of ~82. My car has 14K on it as of this morning and we drive it a fair bit. I love the car, but if someone would give me 60K for it today I would probably take it. With the cash in had I would turn around and get a 90D from inventory. In other words, I think the seller is asking too much.

 

[JPUConn]

My 70D, which is white, also had an original price of ~82. My car has 14K on it as of this morning and we drive it a fair bit. I love the car, but if someone would give me 60K for it today I would probably take it. With the cash in had I would turn around and get a 90D from inventory. In other words, I think the seller is asking too much.

Thanks for this post from a 70D owner - if you don't mind sharing options on your car?

My thoughts on the pricing discrepancies and differences of opinions out there is muddied by some unrealistic asking prices for 'classic' models. Once 3 yr old S60's become more commonly available for mid to high 30k price range with 50K+miles it should help prove that these cars do depreciate.

 

[McHoffa]

My 70D, which is white, also had an original price of ~82. My car has 14K on it as of this morning and we drive it a fair bit. I love the car, but if someone would give me 60K for it today I would probably take it. With the cash in had I would turn around and get a 90D from inventory. In other words, I think the seller is asking too much.

That would be awesome. Wish I could take it off your hands. I'm thinking the Model 3 is going to be too small for my wife's liking, so will look at a used low mileage S when the time comes. Still making two M3 reservations on April 1 anyway, but I can always get that back if we decide to go that route.

 

[tonglaji]

My 70D, which is white, also had an original price of ~82. My car has 14K on it as of this morning and we drive it a fair bit. I love the car, but if someone would give me 60K for it today I would probably take it. With the cash in had I would turn around and get a 90D from inventory. In other words, I think the seller is asking too much.

I would definitely be interested if the options are in line with what I am looking for. Would you mind posting your options? First ever post here, being a lurker for a while, but registered just to post this reply

 

[whitex]

My 70D, which is white, also had an original price of ~82. My car has 14K on it as of this morning and we drive it a fair bit. I love the car, but if someone would give me 60K for it today I would probably take it. With the cash in had I would turn around and get a 90D from inventory. In other words, I think the seller is asking too much.

At $60K for 70D with $7K in options and 14K miles you may find a buyer fairly quickly, considering that the least expensive CPO today is an S60 with 18K miles on it for just over $60K. There may be a 90D in your near future

 

[cwerdna]

I drive 30 to 38K per year. typical day is 120 plus Monday through Friday and 20 to 30 miles Saturday and Sunday. I spend more time in my car than I do in my living room. I want to be comfortable and feel good in my car. I want leather seats and a sunroof. I also drive my cars until they are no longer worth much. My 2010 prius has just over 200k My last two cars before that each had between 225K to 250K Someday I am going to hit 300K So I am not concerned about resale only riding in a car I do not hate. My prius is a car I do not hate but I am not in love with it. I am thinking I will love a Tesla

(My non-primary car is now an 06 Prius that mostly sits idle...)
If you get a Model S and do rack up those kind of miles, I'd like to hear how it holds up, esp. the drive units.

If you're unaware of why, see Does a Tesla Model X really need an odometer?, for example.

 

[JeffS]

I beat this drum constantly. More to remind myself than to convince anyone else. If you buy a car 1yr old and drive it to 150,000 - 200,000 miles, depreciation is irrelevant. You save 1st year depreciation which is the worst. You used most of the car. And what you have left is floor value...probably $10-$15k on a Tesla.

I drive 20k - 25k per year. With that kind of driving...its only an 8yr old car when it is done. And...wait...let me look this up...yep...the infinity miles drivetrain and battery warranty on a Tesla is 8yrs.

So Tesla is the PERFECT car for the high mileage driver.

Try to flip it for a low-cost-of-ownership couple of years though?? Good luck.

Just a vote for buy and hold and drive on the Tesla from one high mileage driver to another.

 

[The Fury]

I beat this drum constantly. More to remind myself than to convince anyone else. If you buy a car 1yr old and drive it to 150,000 - 200,000 miles, depreciation is irrelevant. You save 1st year depreciation which is the worst. You used most of the car. And what you have left is floor value...probably $10-$15k on a Tesla.

I drive 20k - 25k per year. With that kind of driving...its only an 8yr old car when it is done. And...wait...let me look this up...yep...the infinity miles drivetrain and battery warranty on a Tesla is 8yrs.

So Tesla is the PERFECT car for the high mileage driver.

Try to flip it for a low-cost-of-ownership couple of years though?? Good luck.

Just a vote for buy and hold and drive on the Tesla from one high mileage driver to another.

I like your logic as mine was similar. i am a high mileage per year classic owner... when are you thinking of getting another one? Right around the 8 year mark or will you keep it as you got all the use from it? My thinking was to just replace the drive trains & battery (with hopefully a longer range one), and i basically have a new car again in terms of mileage. let me know if you have done some more number crunching on this as my car does not have any autopilot feature etc.

 

[JeffS]

I like your logic as mine was similar. i am a high mileage per year classic owner... when are you thinking of getting another one? Right around the 8 year mark or will you keep it as you got all the use from it? My thinking was to just replace the drive trains & battery (with hopefully a longer range one), and i basically have a new car again in terms of mileage. let me know if you have done some more number crunching on this as my car does not have any autopilot feature etc.

Not sure if I will sell or keep. Either way, I tend to retire my cars at 8yrs. Sometimes I donate them, or give them to a kid. 2 of them over the years, I kept. I still have my 1988 Fiero as an example. My sons and I turned it into an autocross car and it's awesome.

I buy tech every other major release. I have AP 1.0. I won't trade for 2.0. I will hold for 3.0. And 7 more years is about right I think... To see 3.0.