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Used market has really taken a hit [All discussion of Model 3 Resale value]
- Thread starter Blacktes24
- Start date
Silicon Desert
Well-Known Member
well we are not in a rush to buy. I don't know about plummeting, but I can't imagine prices going up any time soon.
thesmokingman
Active Member
Prices are starting to adjust now to the fed rate which is not going down any time soon. That means prices are going to keep going down down down. Look at carmax or carvana etc etc, they can't sell used cars to save themselves right now and it will get worse before it hopefully gets better.
AMPd
Well-Known Member
Friend of mine tried talking me into buying their stock last year because he thought they were going to revolutionize the used car business. Glad I didn’t because wow.
thesmokingman
Active Member
AMPd
Well-Known Member
I couldn’t really see a way for them to “revolutionize” as he said, the used car market when carmax was already around and they were doing well.
He’s also the same friend that told me to sink my 60k bonus into Bitcoin when it was around 350 dollars. I had never heard of Bitcoin or cryptocurrency and decided to pass on that advice.
So he’s 1-1 on financial advice
Proof point of one - when I was at Carmax today getting the quote reflected above, their lot was at >100% capacity. Totally full.
They even told me not to expect a good quote for my Model 3, because they no longer sell the 3, X, S at retail any longer. Only the Y.
TesslaBull
Member
Guess that happens when your company is on the verge of bankruptcy. I don't think that's an accurate reflection of used car values though. Only specifically when selling to Carvana who is nearly bankrupt from overpaying recently.
Indeed, Carvana is in rough shape though so I am sure they are lowballing all their offers now but yes all used car pricing is starting to drop to normal levels now, including Teslas. Get some offers from a few more like Vroom, Shift, Carmax, etc.
Prior to the pandemic my 2019 SR+ offer was only $27k. It ballooned to over $40k with the supply chain issues and now retreating back to normal used car levels. It makes sense as new car supply improves and demand wanes due to macroeconomic factors.
While I like my vehicles to retain as much value as possible, the pricing for used and new has been out of control so I am happy to see pricing come back down to reality.
Thanks I will take your advice. I had no idea about the financial state of Carvana.
Should have listened to himI couldn’t really see a way for them to “revolutionize” as he said, the used car market when carmax was already around and they were doing well.
He’s also the same friend that told me to sink my 60k bonus into Bitcoin when it was around 350 dollars. I had never heard of Bitcoin or cryptocurrency and decided to pass on that advice.
So he’s 1-1 on financial advice
. All the money you made from Bitcoins would easily compensate for any Tesla stock loss.Vroom offered me $33k for my 2022 Model 3 Performance with 13k miles the day the prices dropped. Now they won’t even buy Tesla vehicles at all.
Carvana still gave me an offer but it is still really low at $38k.
I had an offer of $66k for the same car just 6 months ago.
The used values of Tesla vehicles has been OBLITERATED by the recent price reductions.
Carvana still gave me an offer but it is still really low at $38k.
I had an offer of $66k for the same car just 6 months ago.
The used values of Tesla vehicles has been OBLITERATED by the recent price reductions.
It’s a combination. Yes price reductions were big, but also improved availability of new-build Teslas, and other new cars in general.
Hi everyone,
With the price drop in Model Y's, it's surely been tempting for me to trade-in / sell my 2020 M3 for a new MY - I could use the room. What I'm afraid of is that the value of my M3 most likely took a hit as well.. ending up in a big loss overall. Curious to know if anyone here on the forum is contemplating the same thing or pulled the trigger on it. Should I expect a big loss if I do?
Thanks!
With the price drop in Model Y's, it's surely been tempting for me to trade-in / sell my 2020 M3 for a new MY - I could use the room. What I'm afraid of is that the value of my M3 most likely took a hit as well.. ending up in a big loss overall. Curious to know if anyone here on the forum is contemplating the same thing or pulled the trigger on it. Should I expect a big loss if I do?
Thanks!
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