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Used Tesla S Pricing estimation for potential buyer?

Discussion in 'Model S' started by Tluv, Oct 13, 2016.

  1. Tluv

    Tluv New Member

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    I'm excited to be on the cusp of purchasing my first Model S. I was hoping to get some pricing advice from you guys here on the forums.

    I'm looking at a 2014 P85 with AutoPilot, pretty much fully loaded except for the 21 inch wheels. About 27,000 miles. KBB showed a value of around $58k, but with some Craigslist, AutoTrader, etc. research, the car's value seems much higher. The owner wants $76,000 for it.

    Thoughts?

    Thanks in advance!
     
  2. calisnow

    calisnow Active Member

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    Don't have the energy to analyze this particular car but from years of experience buying/selling cars, real estate and other things - pricing guides are worth little more than the paper they are printed on. Markets set prices - not guidebook authors. KBB is frequently over or under priced by large amounts for various cars. I recently sold a Toyota Landcruiser for 250% of the price KBB said it was worth - but I didn't hoodwink the buyer - I sold for right around market value for what it was. On the other hand I had a very difficult time selling a PRISTINE MBZ AMG sedan for near the KBB price.

    To get an idea of true market you have to guesstimate - watch asking prices on ads for a while, follow ebay and check closing prices (ebay is its own monster with a lot of caveats).

    etc. etc. yada yada yada.

    One EXCELLENT way to discover market is to make a lot of offers on a lot of cars and see what shakes out of the bushes.

    Never get attached to a deal. The most important word in deal-making is "next!"
     
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  3. calisnow

    calisnow Active Member

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    #3 calisnow, Oct 13, 2016
    Last edited: Oct 13, 2016
    Okay, I do have the energy for this particular car. I would say "No way Jose!" to $76K for a used, 2 year old Model S with 27K miles. That's insane to me - unless it was a P85D, autopilot, loaded up with a lot of options. A plain old P85 - I would not pay that kind of money for myself.

    I personally would prefer a brand new Model S with perhaps lower specs - the cars have improved a lot during the last 2 years in lots of small ways, especially in build quality. I recently rented a 2014 with the premium sound, for instance - and I prefer my 2016 with the base sound. The 2014's ride/handling was not nearly as controlled as my 2016 - and both cars are on coils.

    I would probably give you different advice if Tesla were an established automaker not making so many rapid, undisclosed changes/improvements to the cars so quickly.

    $76K after the tax rebates will get quite a nice brand new Model S - or an inventory car.

    If this owner is willing to come down on the price then the equation might change.

    I assume you are getting:

    Next Gen seats, pano roof, premium sound, premium interior, power trunk, air suspension?
     
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  4. Tluv

    Tluv New Member

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    Thanks Calisnow!

    Yes, the car has pano roof, performance seats, carbon fiber, supercharger, air suspension, tech package, parking sensors, dual chargers. I really wanted something 85 and above for my anxiety issues.
     
  5. calisnow

    calisnow Active Member

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    #5 calisnow, Oct 13, 2016
    Last edited: Oct 13, 2016
    You're in California, so depending on your income level you either get $7.5K or $10K in tax benefits. For me personally, to take a car that's 2 years old with almost 30K miles I would need to be saving $10-$20K to make that worthwhile.

    But, for $92K before tax benefits you can get a new 2016 75D built to order with premium paint, next gen seats, air suspension, autopilot, premium interior.

    For $87K before tax benefit you get all the same with rear wheel drive.

    For $83K before tax benefit (and as much as $3,000 LESS than the used Tesla you are looking at after you factor in the tax benefits) you can get all the same options on a brand new 60D and if you ever actually need more range you can pay more to unlock it up to a 75D later (this is what I personally would have bought instead of a 70D if it had been available to me in Spring 2016).

    I think a P85 is a waste of money - and I say that as someone who has owned (and still owns) a string of high performance pure sports cars, and has done a lot of tracking. The P car Teslas are one trick ponies - they do not handle any better than the other Teslas (with the exception of the old + cars and the pre-April 2015 P85D) and yet you pay a giant premium. They are useless in California traffic and the lower end Teslas have all the acceleration anyone could ever need on a public road. And yet, despite paying the premium, the P cars are no good for track days because the batteries quickly get heat soaked.

    So me, I'd buy a new 60D vs a 2 year old P85 with 27K miles on it for the same money - any day of the week.

    On the other hand - if you can get that P85 down below the price of a new 60D with similar specs I might personally consider it, but it would need to be significantly less, in my case.
     
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  6. calisnow

    calisnow Active Member

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    I hear you on the battery/range anxiety - but do yourself a favor and have that owner send you a snapshot of his car charged to 90% capacity. Then compare to the EPA range at 90% of a brand new 75D which is two years newer - you get the benefit of AWD for increased range + the revised front bumper. Both are good for a few miles and I believe you come out almost a wash in terms of range on a 2014 rear wheel drive 85 car vs a 2016 all wheel drive 75 battery car.
     
  7. calisnow

    calisnow Active Member

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    Which seats do you mean? I think there have now been three different seats - and performance seats were different from "next generation" seats. You have a picture?

    Anyway, for wild ass guess on true value I would place the car you are looking at in the very low $60K range, personally - not a penny more.
     
  8. Tluv

    Tluv New Member

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    Calisnow - thank you for taking the time to respond! You make a ton of sense and I will definitely look into a new 75d. After thinking about it, I really don't drive long distances a whole lot so I probably don't need the 85 and above. I was just trying to talk myself into getting more than I really need. Anyhow, thank you very much for your amazing insight!
     
  9. calisnow

    calisnow Active Member

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    No worries, glad to help. One last thing - there is at least an outside chance that Tesla's upcoming October 17 announcement will be that they are now putting the second generation of autopilot hardware into the cars. At least wait four more days before making a purchase decision.
     
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  10. No2DinosaurFuel

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    I say if it is in prestine conditions then I would say it is worth around $60K. But we all know unless this thing is babied and wrapped or what not for the 2 years then I say $55K is a fair price for this car.

    Like others have said you can get a new car and that is a much better deal. $76K is ludicrous! They are off by at least $20K.
     
  11. henderrj

    henderrj Member

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    Don't forget a few years from now when you decide to sell the thing. Or trade it in for a new one. The new car will be worth a lot more than than the used-car you're talking about would be. And if you still think you might buy used, at least go talk to the Tesla rep about a CPO car. Much, much better deal than what you've been offered.
     
  12. Shaggy

    Shaggy Member

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    Wasn't Tesla loaner pricing $1k per month and $1 a mile?
     
  13. rolson1011

    rolson1011 2016 P90DL, Model 3 on reservation

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    I got my '16 P90DL for $92k because of discount pricing for the end of Q3 push. It was a "service loaner" that was retired after 105 miles because it had the "classic" front end. The Maroney window sticker in the glovebox still said it was 129k. So I figured I saved $37k and a couple months wait time by opting out of the new front end.
     
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  14. CHG-ON

    CHG-ON Still in love after all these miles

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    Oh how I hate to admit it, having spent 121K for a fully loaded 10/14 P85+, as below, except for winter and lame stuff... I think the price is pretty much right on from KBB. I would not spend mid 70's on that car today.

    I figure that little plus sign is the most expensive mathematical sign I have ever bought.

    Is she worth it? F yeah!!!
     
  15. Footer

    Footer Member

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    I agree with some of the other responses. Get a 60D with the options you want, but wait till the 17th just in case. Tesla discontinued the X60D. They probably won't do the same for the S but the S60 is a bargain compared to the other models.

    A loaded P85 with AP is a rare car and it might be worth 76K to certain buyers. Not me. Probably not you.
     
  16. No2DinosaurFuel

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    After tax credit or before? If it is before $82K for p90dl is pretty decent! If it $92K after tax credit then it is OK deal IMO.
     
  17. Kandiru

    Kandiru Member

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    OP I paid about the same for a 2015 85D. Sometimes it pays to arrange third party inspection, escrow, and covered cross-country transport.

    Sight Unseen Used 85D Step by Step
     
  18. jcaspar

    jcaspar Member

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    Interesting. I would have thought the opposite. It seems a month from now the used car would be worth the same amount but he new would have dropped 10-20k$ just being driven off the lot. Seems the used model would have already taken its huge deprecation hit where the the new one wouldn't have.
     
  19. henderrj

    henderrj Member

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    True, true. Just wanted to point out that the new car will have a better resale value down the road. That might figure into the equation for some people.
     
  20. rolson1011

    rolson1011 2016 P90DL, Model 3 on reservation

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    92k before tax credit :D
     

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