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Used market has really taken a hit [All discussion of Model 3 Resale value]
- Thread starter Blacktes24
- Start date
66-68k between vroom, carmax and carvana. one was 49k the other day and one was 52k. I missed the boat. lol
When I took delivery on it I knew I could make money on it. Ordered just before the war in Ukraine started and the $4500 price increase on M3Ps. Had a decent window to sell it for profit but wasn't 100% sure on selling it. Now that I want to sell it it's dropped a ton. I'll just keep it most likely.
All the fuss about used cars made me go look whats going
on in Germany. There are a few options near or a bit over for
new models. Used AWD are about what you would expect, 30-40%
discount for a 2-3 year old model 3, so 40K. Everyone here expects a
3-6 month wait for a new car so unless your car blows up, we just wait.
It will be coming to the US as well as the chip problem slowly resolves
itself. (GM sales up 24% last month. Have fun !!
600 private sellers and 2000 companies.
on in Germany. There are a few options near or a bit over for
new models. Used AWD are about what you would expect, 30-40%
discount for a 2-3 year old model 3, so 40K. Everyone here expects a
3-6 month wait for a new car so unless your car blows up, we just wait.
It will be coming to the US as well as the chip problem slowly resolves
itself. (GM sales up 24% last month. Have fun !!
600 private sellers and 2000 companies.
40 years of watching financial markets has taught me this: parabolic up is followed by parabolic down.
Relatively it's still very high.
I may have observed the same thing with my 2019 M3P with 44K miles. My recent quotes for the car have been:
- AutoNation punted to a local LR dealer, who made "conditional" assessment of $45K, but "bring it in so that we can inspect it".
- CarMax: $30,880 - $39,801
- Vroom: $35,000
- Carvana: $34,819
- Tesla trade-in offer: $32,500
Fake price points:
- NADA: $48,050 (but if you ask for cash offer, they redirect to Carvana).
- KBB: $50,000 (KBB has been stupid high for decades, but they never stand behind those paper offers). Once you ask for "cash offer", $50K turns into $38.7K from a "local dealer".
- Edmunds: $45,700. Once you ask for "cash offer", it redirects to CarMax and its $30.8-39.8K estimate.
KBB values are pure and utter BS.
I wonder if the prices from yesteryear were at all real. All of the online estimates have a fine print that reads "estimates conditional on actual vehicle inspection". Once you bring it in, every paint chips becomes a point of contention.
I got this "FAKE price history" graph from Edmunds:
a
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Checked Carvana for fun and they offer 39k for it. 3-5 months ago they were offering upper 68-69k for it. Only has 3000 miles on it. 22 M3P.
El joe
Active Member
Silicon Desert
Well-Known Member
Yea, but it is most all cars. Look at the other ones too. Side note, I pitty anyone that bought Carvana stock.
I'll have to look at others but I can't imagine too many have almost dropped close to half of what they were and still almost new.
Silicon Desert
Well-Known Member
right. The wife is looking for a 2nd hand car for the teenager so we've been looking around and as you probably noticed, it varies a lot. We have seen several other cars drop a lot like yours in the last 3 months. Good for buyers but obviously not good for you.
Not that many cars were artificially pumped up above the price of new for used vehicles, either. If you were tracking the cost of less than one year old audi / bmw / mercedes you would find that they virtually always have this amount of drop in value. The drop in value needs to be calculated from what you paid, new, unless you are trying to time it like the stock market (like it sounds like).
Like others have said when the US strategic reserves dry up the artificially low price of fuel will go away and people will start thinking about EV's once again. Hopefully that means more demand and higher resale value on the M3.
I am hoping that the used car market tanks in the next year or two in conjunction with fuel prices being high to score my next deal.
Edit: Also, just for comparison sake this is what happened to my house over the last four years. Up nearly $200k at one point with no changes to the house lol.
I am hoping that the used car market tanks in the next year or two in conjunction with fuel prices being high to score my next deal.
Edit: Also, just for comparison sake this is what happened to my house over the last four years. Up nearly $200k at one point with no changes to the house lol.
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