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ww73
Member
Used S prices dropping as cars age. Shocking!
Last time I checked my old ICE cars had lost value too.
Last time I checked my old ICE cars had lost value too.
anyone predict when
"Tesla Model 3 is retaining its resale value better than all other electric vehicles" I agree Too new, lets see what happens when the SR is released.
Resale value for Tesla Model X SUV is also holding up b/c they're rare relatively speaking. Again MY could change that
"Tesla Model 3 is retaining its resale value better than all other electric vehicles" I agree Too new, lets see what happens when the SR is released.
Resale value for Tesla Model X SUV is also holding up b/c they're rare relatively speaking. Again MY could change that
The biggest difference is that most of the old S's come with lifetime supercharging. Battery seems to be holding up great, and if any of them get battery replacements at the end near the 8 year warranty the car will pretty much be good for another 8 years. Even with a 50% worn out battery the supercharging could allow the car to be a nice local commuter for many more years.
I've been looking for a 2016-2018 P90D, 75D or 100D for the past few months. I've seen average prices drop quite a bit over the last month on those models.
Bridor
Member
I still owe $40K on my 2014 Tesla Model S 85. But I have kept it in pristine condition, upgraded the headlights, upgraded the bumper, added the $1,250 Tesla center console, put in the rear-facing seats and put in really nice floor mats. I plan on putting a million miles on it... It still drives like it was brand new.
I'm actually thinking of getting a second one - but I am very particular - I only want the latest blue exterior color, the black interior and the sun roof. I also would like to have the all-wheel drive option. I have been shopping but every time I find one with a great price, it is sold before I can get a hold of the seller.
Brent
I'm actually thinking of getting a second one - but I am very particular - I only want the latest blue exterior color, the black interior and the sun roof. I also would like to have the all-wheel drive option. I have been shopping but every time I find one with a great price, it is sold before I can get a hold of the seller.
Brent
Chancellor32
Member
Same here haha. My late 2014 S60 I bought for 51k a year ago. Now it’s maybe worth 41k. Guess I should have waited till mid 2018 to snag up all the discounted 2015’s.
Dealer prices, hunting for the good deals and ignoring the high priced ones...
100D: Low to mid $70s with decent options
75D: Low $60s
P90D: High $70s 2016 w/ AP2
P100D: Low $90s 2016 w/ AP2
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Yes I agree with what you're saying but you have to think that a newer car with more technology will be available and improvements will keep on being added over time. The will be a certain base price but it won't be very high. I'll get you a real life example: I have a friend who has a 2012 85 and it has 350 000 km. The car still looks great and drives well but Tesla has quoted him a trade in price of 6000$. That's not a typo btw! Sure the value to him is much higher but the price on the market has dropped quite significantly. It's just how things go. Obviously it doesn't matter to him as he doesn't plan on selling and he could probably get a better price in a private transaction but you get the idea...
I'm not totally shocked at the offer from Tesla. Your friend should be able to get much more than that private sale. I would even think he could easily get double that! As time goes on I would expect that any free lifetime SC tesla will hold a much better resale price over a non SC one in similar condition. Someday $6000 Tesla's may be easy to find, but I think that's still pretty far away.
PWlakewood
Active Member
Im glad prices dropped like they did and Im not too concerned if the price keeps dropping because we plan on keeping our MS for many years and getting the wifey and X soon. All cars drop in value at some point and there will come a point where the value levels off even for the oldest base models.
Charge up to 100% from low battery, don't need to completely empty. To check how much car is supercharged you need to use scanmytesla (app), have the diagnostics connector -> ODB2 cable for the right year, and a compatible ODB2 dongle.
whitex
Well-Known Member
Hey, maybe the perceived "weakness" is just Tesla's pricing error (or strategy) as it seems a few people are reporting Tesla refusing to sell at advertised prices and instead asking for as much as $16K more.
Bought CPO Model S yesterday and now Tesla says they made a mistake and will not honor the Price
So maybe in addition to Elon time, we now need Elon prices.
It would explain the $35K Model 3 too.
Bought CPO Model S yesterday and now Tesla says they made a mistake and will not honor the Price
So maybe in addition to Elon time, we now need Elon prices.
It would explain the $35K Model 3 too.
Dpc131
Member
I really think it’s just the market is flooded with 2015 leases when the autopilot trend kicked in. I’ve been looking for years at trying to buy one and expected that I would ‘settle’ for a model 3.
Talked to a used dealer and he said Tesla keeps most of the better ones themselves and then auctions off the rest. The auction can find some steals and I frankly don’t think used dealers know how to price them effectively. It seems like they add so much profit on top of their purchase cost and not a true value.
I got a 2015 P85D optioned-out with 48k mikes for $42k plus TTR.
I also converted a lifetime ICE car buff at work with the first time we hit the accelerator. He’s been bragging about MY car for the last two days.
Talked to a used dealer and he said Tesla keeps most of the better ones themselves and then auctions off the rest. The auction can find some steals and I frankly don’t think used dealers know how to price them effectively. It seems like they add so much profit on top of their purchase cost and not a true value.
I got a 2015 P85D optioned-out with 48k mikes for $42k plus TTR.
I also converted a lifetime ICE car buff at work with the first time we hit the accelerator. He’s been bragging about MY car for the last two days.
Having bought several used luxury brand cars over the years the typical depreciation is 45 to 50% or so after 3 years. This is largely what most BMW, Audi, etc leases are based on. Tesla has historically enjoyed less depreciation than this due to limited availability and the federal tax credit. However, now the comparison for each buyer is do they want a used 2 to 3 year old MS or a brand new model 3. Both are in the same price range with tax credits on the newer car (even after the reduction). For many people a new car, with the color and options they want, is always preferred. This directly results in fewer buyers for the MS.
I just did this same math and bought a 2016 model S. In part because I like the design of the model S way more than the 3 (as a driving enthusiast the lack of instrument 'cluster' in the model 3 was a non-starter). As a side note, if they make the inside of the MS exactly like the 3 and cut back on the features my next car may well be from another luxury mfr with an electric option. Tesla needs to take a cue for model stratification and price range overlap from the other luxury mfrs (BMW 3 series and 5 series come to mind).
I just did this same math and bought a 2016 model S. In part because I like the design of the model S way more than the 3 (as a driving enthusiast the lack of instrument 'cluster' in the model 3 was a non-starter). As a side note, if they make the inside of the MS exactly like the 3 and cut back on the features my next car may well be from another luxury mfr with an electric option. Tesla needs to take a cue for model stratification and price range overlap from the other luxury mfrs (BMW 3 series and 5 series come to mind).
This! It looks like Tesla partnered with Adesa / Manheim starting back in November to get rid of a glut of used stock they had building up. My dealer told me they were seeing a large number of Model S's at auction (end of 2018 into January 2019) and they were essentially direct from Tesla and priced well. This included a large number of 2016.5 AP1 cars. This means a lot of used car dealers are now getting into the used Tesla market and if they want to turn them quick they will price them competitively. This affects market value.
You have to figure you do not get the CPO benefits at that price which includes the 4yr/50K warranty (or 2 yr/100k) nor do you necessarily get the free unlimited supercharging*. So you can have two of the exact same cars that have completely differing real value based on the source (3rd party dealer vs CPO). This doesn't include private party, which has the benefit of being able to add an ESA if still under warranty. That too carries a value. So there are multiple Market values to consider.
From my perspective I also see an issue of overall demand. The nose cone pre-refresh Model S's are just old looking to me. I know some people still like them, but I wouldn't even consider one when I was shopping. Add that to the glut coming through auctions and you have a recipe for price drops and frankly it should be expected as it is the path most cars follow, as is the case with iPhones and other electronics.
*Some are reporting that 3rd party dealer sold used Model S's that were originally sold with free unlimited supercharging were not transferring to buyers.
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