Used Model S Pricing Right now

[Lmurph2]

So I have been cruising the used Model S listings for a few weeks now. And I've noticed that there are at least 10 Model S Long Range, 2017s and 2018s, with mileage on them, that are listed for as much as, or more than the cost of a brand new one. Can anyone explain why this is so? For example: $75000 for a 2017 with 17k miles and EAP vs. a 2019 with 50 miles and AP for $77000. Is the value of EAP vs AP that great? Several of the 2017s have been lingering unsold for a while and I wonder if it's because of the price being too close to new.

Will the prices of these 2017s eventually drop farther from new? Does Tesla keep these priced high to push sales of new ones? Any of you more experienced price-watchers have insight? Thank you.

 

[Ostrichsak]

So I have been cruising the used Model S listings for a few weeks now. And I've noticed that there are at least 10 Model S Long Range, 2017s and 2018s, with mileage on them, that are listed for as much as, or more than the cost of a brand new one. Can anyone explain why this is so? For example: $75000 for a 2017 with 17k miles and EAP vs. a 2019 with 50 miles and AP for $77000. Is the value of EAP vs AP that great? Several of the 2017s have been lingering unsold for a while and I wonder if it's because of the price being too close to new.

Will the prices of these 2017s eventually drop farther from new? Does Tesla keep these priced high to push sales of new ones? Any of you more experienced price-watchers have insight? Thank you.

Hard to say with the information you've supplied. You may be comparing apples to aardvarks. Options? Condition?

 

[Lmurph2]

Here are two examples:

2017 Model S | Tesla

2019 Model S | Tesla

Not a big difference in price, but one has 17k miles and the other 250. EAP vs AP seems to be the only other big difference. Thanks for any insight.

 

[robg]

Agreed. Tesla used pricing makes no sense right now. Only theory seems to be Tesla wants to steer people to new cars to boost quarterly numbers. Seen a bit like a conspiracy theory though. Given how inept Tesla is at used car sales I guess it’s no surprising the pricing would make no sense. Whoever is in charge of that department is asleep at the wheel.

 

[Grassright]

Here are two examples:

2017 Model S | Tesla

2019 Model S | Tesla

Not a big difference in price, but one has 17k miles and the other 250. EAP vs AP seems to be the only other big difference. Thanks for any insight.

2017 also has 21" Grey Turbine Wheels, which is an $4500 option. And the old EAP is essentially the new FSD. So another $6000.

 

[Uncle Paul]

There are two different Tesla Marketplaces. New and Used.

Seems like few buyers cross shop them.

Also should not try to price match a used car with pricy options against a new car with different options or features included.

Tesla pricing is currently in a state of flux. Each buyer needs to determine for them selves where the greatest value is to them.

For obvious reasons, an earlier model, with legacy transferable Free Supercharging for life will always have a special appeal and ususally will bring a premium.

See the same thing with other manufacturers, where a 50 year old classic with provenance may sell for 10X what a new one will bring.

 

[Lmurph2]

Thank you everyone. Hard to believe wheels add $4500 more to a car's value than the standard wheels. But, this is Tesla...

I need to learn more about options, clearly. Thank you!

 

[KCapital]

New one has $3750 federal tax credit.

Old one is overpriced by atleast $10-15K

 

[CraigJensen]

Last week I placed an order for a new Tesla Model S Long Range (my 5th Tesla), trading in my 2017 Tesla Model S 90D with only 7,984 miles on it. The trade-in is in as-new condition with premium upgrades. Tesla offered $51,300 for it. That's $55,200 less than the $106,500 I paid for it (not counting doc fees, taxes, etc.). In other words, the car depreciated by half in two years and the cost due to lost value alone has been $6.91 a mile! Further, Tesla is offeringg similar cars out of inventory for $75,900 to $79,500. I canceled the order. Tesla owners, adjust your expectations.

 

[iqless]

Last week I placed an order for a new Tesla Model S Long Range (my 5th Tesla), trading in my 2017 Tesla Model S 90D with only 7,984 miles on it. The trade-in is in as-new condition with premium upgrades. Tesla offered $51,300 for it. That's $55,200 less than the $106,500 I paid for it (not counting doc fees, taxes, etc.). In other words, the car depreciated by half in two years and the cost due to lost value alone has been $6.91 a mile! Further, Tesla is offeringg similar cars out of inventory for $75,900 to $79,500. I canceled the order. Tesla owners, adjust your expectations.

Tesla's trade in offers are absolutely atrocious, it's not uncommon to get 50% more on private sale (which I did). So don't count on Tesla's numbers to tell you how much your car has depreciated.

 

[AMPd]

Last week I placed an order for a new Tesla Model S Long Range (my 5th Tesla), trading in my 2017 Tesla Model S 90D with only 7,984 miles on it. The trade-in is in as-new condition with premium upgrades. Tesla offered $51,300 for it. That's $55,200 less than the $106,500 I paid for it (not counting doc fees, taxes, etc.). In other words, the car depreciated by half in two years and the cost due to lost value alone has been $6.91 a mile! Further, Tesla is offeringg similar cars out of inventory for $75,900 to $79,500. I canceled the order. Tesla owners, adjust your expectations.

That’s just teslas way of telling you they don’t want your car
They don’t have enough staff to sell used cars, used cars don’t add to their quarterly sales numbers.
It’s been clear for a while that they need all employees to be working on delivering new cars, used car sales is an afterthought

 

[aerodyne]

There could be any number of reasons for the price increases.

I would prefer an older car, with pano, the old SAS, and proven AP1.

It could be Tesla just does not want to sell older cars, but they are trying to improve the website.

Has anyone noticed they just added, for the first time, a description of the 70 point inspection?

 

[darxsys]

Last week I placed an order for a new Tesla Model S Long Range (my 5th Tesla), trading in my 2017 Tesla Model S 90D with only 7,984 miles on it. The trade-in is in as-new condition with premium upgrades. Tesla offered $51,300 for it. That's $55,200 less than the $106,500 I paid for it (not counting doc fees, taxes, etc.). In other words, the car depreciated by half in two years and the cost due to lost value alone has been $6.91 a mile! Further, Tesla is offeringg similar cars out of inventory for $75,900 to $79,500. I canceled the order. Tesla owners, adjust your expectations.

Just for giggles, I went and asked for a trade-in estimate for my car. 2015 85D, 44k miles. I've seen similar cars sold by Tesla for between $45k and $55k. Tesla's trade in offer? $34.5k. I just laughed. Here is the explanation that I got from the sales advisor as to why:

We generally provide a KBB “Good” value for vehicles by other automakers. When handling a Tesla trade-in we have to keep in mind updates to offerings for new vehicles which make the older models a bit less attractive to new buyers. Model S has undergone a lot of updates to both exterior design and more importantly internal hardware since your vehicle was manufactured. We just started building with new front end motors on all Model S which provide even more efficiencies.

If this isn't a pile of bullshit, I don't know what is. Somehow every other brands' car is desirable under KBB value, but Model S isn't?

 

[aerodyne]

Based on common sense, and the above low trade in values, I would encourage all Tesla owners, just keep your car! You will never be able to save for a Roadster 2 if you keep buying a new car every coupla years!

 

[darxsys]

Based on common sense, and the above low trade in values, I would encourage all Tesla owners, just keep your car! You will never be able to save for a Roadster 2 if you keep buying a new car every coupla years!

Personally, I don’t think I will ever be buying a roadster, or any other Tesla for that matter.

 

[neroden]

Tesla's used car business is just a mess. They don't want to buy your used Tesla so they will lowball the trade-in offer, and they don't seem to really be clear on how to sell them, adn they've been losing money on the used Tesla business. Visible used inventory has been dropping fast and I suspect they're simply clearing it out. (There is some evidence they're converting them to internal service cars for Mobile Service.)

If you want to know the value of your used car, go somewhere else, like cars.com.

 

[Saxgod]

I really don't understand why everyone seems surprised that a trade in value is under what a private sale value is. This is true for ALL dealers not just Tesla. If you want a better offer, take it to a CarMax and get their value. Tesla will honor it. Still not high enough? Sale it on your own then buy the car you want.

If you think you found a dealer that is giving you a better than average price on your trade in you better look real hard at what they are charging you for the vehicle you are purchasing. Most likely they are making up the price they gave you on their vehicle.

I mean cmon...taking in a car you paid 90k for and being mad its price has dropped by half? This is the world of used cars. It depreciated the moment you signed the paperwork and will continue to do so. (I bought a 4 year old vehicle for a third of what it was brand new.)

I didn't buy my vehicle for what it would be worth in 2 years, I bought it and paid what it was worth at that moment.

 

[darxsys]

I really don't understand why everyone seems surprised that a trade in value is under what a private sale value is. This is true for ALL dealers not just Tesla. If you want a better offer, take it to a CarMax and get their value. Tesla will honor it. Still not high enough? Sale it on your own then buy the car you want.

If you think you found a dealer that is giving you a better than average price on your trade in you better look real hard at what they are charging you for the vehicle you are purchasing. Most likely they are making up the price they gave you on their vehicle.

I mean cmon...taking in a car you paid 90k for and being mad its price has dropped by half? This is the world of used cars. It depreciated the moment you signed the paperwork and will continue to do so. (I bought a 4 year old vehicle for a third of what it was brand new.)

I didn't buy my vehicle for what it would be worth in 2 years, I bought it and paid what it was worth at that moment.

You totally missed the point. For any other car, Tesla will pay you KBB fair market value. For their own, they won't. That's where the issue arises.

 

[sceptic]

I started a similar thread but no real clarification except "it's Tesla"
When I'm bored I sometimes look again - it is location dependent but the other day I found a used 2019 S LR 100 low mileage (300 miles) that was lacking 1 year of the 8 year warranty (said exp in 7 years) without free SC, essentially the same care new WITH free SC was 2k less! (of course destination fee would eat up some of that) -kept going back and forth between pages to make sure I hadn't missed an option. I'd certainly pay less for a new car with free SC and a full 8 year warranty if I was in the market., but what do I know?

 

[Saxgod]

You totally missed the point. For any other car, Tesla will pay you KBB fair market value. For their own, they won't. That's where the issue arises.

That isn’t true. I traded in a Lincoln Navigator and they wouldn’t pay fair value. I HAD to take it to car max to get Tesla to match the price. This just happened in the last month and a half.