It’s difficult to evaluate. The asking price on some used Teslas still not realistic given the recent Tesla price cut and Fed tax credit.
I think most sellers are in for a shock.
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Used market has really taken a hit [All discussion of Model 3 Resale value]
- Thread starter Blacktes24
- Start date
I think most sellers are in for a shock.
If you can find someone with more cents than sense then you might be able to make a private party sale work. Otherwise dealerships have taken such HUGE losses on Tesla vehicles that they pretty much just won’t buy them at all now.
We are all pretty much stuck with these cars until production slows down or Musk changes the price back up again.
It is pretty amazing how much the used prices have tanked. My 2018 P3D+ w/ FSD with 46k miles was totaled in June and I got $58k from insurance. I can get a used 2020 P3D+ w/FSD from Tesla right now for $45k with 30k miles and an additional year of warranty. What are you gonna do though? The market has changed and a brand new P3D+ w/o FSD appears to be around $47k after the tax credit so the days of inflated used Tesla prices are likely over... we all knew it was a bubble it was just hard to know when it would pop.
$37900 isn’t great but I entered info for 2022 M3LR with 5k miles and the price offer was $31k.
. Sellers on Autotrader still listing $46-53k for 2020-2022 M3LR
What a disconnect!
We all just need to hang in there for a while. If you sell right now you are going to get absolute bottom dollar for your car, and rightfully so because why buy someone's used M3 when you can get a brand new one for the same price.
Just wait for these incentives to dry up, and for the price of gasoline to go up like it always does and the used car market will stabilize.
Just wait for these incentives to dry up, and for the price of gasoline to go up like it always does and the used car market will stabilize.
Yeah wait a couple of months if you can, with the influx of orders I think Tesla will start to build and then maintain a healthy backlog (~3 month), then we can really see the used value stabilize.
Just out of curiosity, I asked for some quotes to sell my 2020 LR AWD with 80K miles on it.
Just last month, Carmax offered $26.5K. Today, Carvana offered $19K. Driveway laughingly offered $6k. Carmax would not appraise it at this time "due to volatility in the Tesla market." Vroom also will not provide an offer due to "market conditions".
Just last month, Carmax offered $26.5K. Today, Carvana offered $19K. Driveway laughingly offered $6k. Carmax would not appraise it at this time "due to volatility in the Tesla market." Vroom also will not provide an offer due to "market conditions".
So I’ve been thinking about a M3 for a while, especially with the price cuts and tax incentive. Was thinking new, but not opposed to buying used. I found a used 2022 M3LR white with black interior with 6500 miles they are listing for $47,500 which they aren’t getting. What are yall’s thoughts on what a fair price would be? $42,000?
I know you can’t order these now, but they pop up on Tesla inventory pretty regularly. This configuration would be $50k and then a $7500 tax credit which I would realize in about a year. Just wonder real word what these are selling for from a dealer.
I know you can’t order these now, but they pop up on Tesla inventory pretty regularly. This configuration would be $50k and then a $7500 tax credit which I would realize in about a year. Just wonder real word what these are selling for from a dealer.
jebinc
Well-Known Member
I sold my 2021 MYP for $62.5k, to a Ford dealer in September… They sold it early October for $67,000. That buyer must have one “chapped @$$” today, after the Tesla price dropThat's because they gave someone $61,500 for it a month ago. Oops.
Demand should drop significant if one think it through clearly and not emotionally.
New M3 standard plus is $42,999 + destination charge $1,350 - $7500 Fed rebate - xxx state rebate…….$36,849 not count8ng state rebate. Why would anyone pay more than that for a used M3 ?
If you are eligible for Fed rebate and state EV rebate why would you buy a used M3LR rather than just get a new one at the same price?
inventory M3LR $49,990+$1350 destination charge=$51,250.-$7500= $43750- $xxxx for state rebate.
IMO, used M3LR should be under $40k for you to consider. Otherwise, buy the new one.
2023 White interior, blue exterior Model 3 RWD with 3990 miles was valued at $28k-$31k. I don't expect to be trading it in for quite some time. Though as with any technology that becomes more widely adopted, I expected prices to continue to go down. The "bubble" we got with the used car market previously was just a perfect storm of events. This same aspect of technology could be applied to first LED TV to now LED TV prices and so on.
Except it happened instantly overnight not gradually over the span of several years.
I traded in my '20 M3P to Tesla in late December for $38K. At that time, Carmax offered me $34K and told me their offer would be trash because they send all 3/S/X straight to the auctions, only Y's go on their retail lot. I knew then that the oversupply problem had started, and hit warp-speed the day that new-vehicle price cuts were announced in Jan.
The only comfort I have during all this turbulence is that this car is the best one I've ever owned, and if the market screws me over I'll just keep it as a daily driver forever and get something mega impractical on the side.
Hi all,
Looking to add another Tesla to my garage. Thinking about a Model 3 Performance. With the price drops lately, what are you seeing as a logical price for a low-mile 21/22 M3P, black with white interior? I've been seeing prices all over the place, surely I know my '22 MYP value has tanked...
Nonetheless, curious to hear opinions on it.
Looking to add another Tesla to my garage. Thinking about a Model 3 Performance. With the price drops lately, what are you seeing as a logical price for a low-mile 21/22 M3P, black with white interior? I've been seeing prices all over the place, surely I know my '22 MYP value has tanked...
Nonetheless, curious to hear opinions on it.
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