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Value Model 3 Performance vs Long Range

Discussion in 'Model 3' started by mikey_bs, Nov 1, 2020.

  1. mikey_bs

    mikey_bs Member

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    I couldn't find much information on this specific topic so I apologize if this is repeated.

    I am curious as to which trim holds more value percentage wise between a 2021 refreshed Performance Model 3 and a Long range Model 3. Realistically, I would probably only keep the model 3 for three years or so...I am trying to decide between the two options. If I am going to do a 5 year loan and the vehicle most likely won't be paid off in 5 years I am looking to figure out if one will hold more value than the other? I am not too concerned about the difference in monthly payment of approximately $130 per month over 5 years.

    Obviously the performance is more expensive but maybe its not for everyone when it comes to second hand? LR is more suitable for the average person.

    I am curious if anyone has ran these numbers or there is any data to support either claim?
     
  2. jjrandorin

    jjrandorin Moderator, Model 3, Tesla Energy Forums

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    The "model 3 performance" has not existed as a vehicle for 3 years yet, so there would be no "data to support a claim of 3 year value".
     
  3. ehacke

    ehacke Member

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    To start with, I don't know if I'd make a buying decision based on a theoretical sale value extrapolated 3 years into the future. There are so many variables that it's hard to say anything for sure. And in my opinion you should buy what you want and can afford now, and worry about the sale later.

    That said, my guess would be that the performance would lose value faster. Mostly based on the fact that more expensive variants almost always lose value faster unless they are extremely rare.

    People buying used cars care a lot less about trim levels than people buying new, so it drives the prices down. Especially considering there are so few variants, the original prices vary significantly, and the high end versions are not rare.

    One potential wildcard could be FSD. If it becomes awesome, has no competitors, and costs $30k in the future. A car with FSD could be worth a lot.

    Conversely, if competitors arise and drive the price down. That $10k on FSD could be free on new models in a couple years. Hard to say.
     
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  4. jjrandorin

    jjrandorin Moderator, Model 3, Tesla Energy Forums

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    Also, given your plan to only keep the car for 3 years (and get a 5 year loan but somehow not pay off the car in 5 years, with that 5 year loan), you likely should lease the car instead of buying it.
     
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  5. LionXng

    LionXng Member

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    There are no numbers to run, the future isn't written. Buy the car you want, when you go to sell it try to get the most you can.
     
  6. mikey_bs

    mikey_bs Member

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    how about two years? or even one

    Sorry, that was a typo. The loan would absolutely be paid off in 5 years should I keep the car that long. With that said, Leasing the car for three years and returning the car would be a loss of money.

    I’m pretty sure with minimal money down, after three of five years there would be some positive equity when selling.
     
  7. mikey_bs

    mikey_bs Member

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    I do agree with what you said. I did run some basic numbers on KBB for a 2018 Performance vs a long range and it appears that the performance only held a $2k higher value after 2-2.5 years.

    I don’t see myself having this car longer than 5 years no matter what I don’t see value in FSD at the moment. If FSD transferred to other purchases I think it will be a no brainer. With that being said, we all know that does not happen so I will not be adding FSD to this purchase.
     
  8. Marius A

    Marius A Member

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    Unless you're taking the car to the track then the performance is mostly for that extra speed. In 3 years we might see tm3p with ludicrous mode and maybe air suspension to lower it even further, so that optimized acceleration you get today is most likely going to be surpassed in 3 years.
    I wouldn't want to pay extra for a car that still isn't as fast as a new one, if that makes sense.
    But I'm the kind of person who gets the tow hitch because it might help resale value, so grain of salt and all that
     
  9. holmgang

    holmgang Active Member

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    theres nothing rare or special about the performance to improve its relative resaleability.
     
  10. Eddie1218

    Eddie1218 Member

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    If you can afford it and it will make you happy... get it!!! No doubt in my mind that next year there will be a better M3. Its hard to do any predictions on resaleability because Tesla does not upgrade like a conventional car company. Plus, there is no option to buy your M3 at the end of a lease if you want.
     
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  11. TLLMRRJ

    TLLMRRJ Active Member

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    I purchased a LR AWD. That answers any questions on which is the better buy.
     
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  12. UncertainTimes

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    #12 UncertainTimes, Nov 2, 2020
    Last edited: Nov 2, 2020
    Performance. The visual distinctions alone are worth it.
     
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  13. Sam1

    Sam1 Member

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    You don’t buy a more expensive performance car for “value”. You buy it for the performance aspect.
     
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  14. TLLMRRJ

    TLLMRRJ Active Member

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    Sure you do. I very intentionally selected and purchased my Lamborghini Murcielago knowing that as the last naturally aspirated V12 gated manual Lamborghini with doors that go up, it wouldn't just not depreciate, but actually go up in value. So far, I could buy a Model 3 Performance with the appreciation. So people definitely look at TCO when buying performance cars.
     
  15. Marius A

    Marius A Member

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    Weird place to flex
     
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  16. Sam1

    Sam1 Member

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    Not a single person has a clue on future appreciation and/or depreciation of vehicles. The market, just like any market, is dependent on what the buyers are willing to pay for. There are many hundreds of model examples that exist showing data to reflect this.
     
  17. Phlier

    Phlier Bluebird

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    Right on.
     
  18. TLLMRRJ

    TLLMRRJ Active Member

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    #18 TLLMRRJ, Nov 2, 2020
    Last edited by a moderator: Nov 2, 2020
    People definitely do and should take into account total cost of ownership, which includes depreciation. Sure, there's no guarantee in life on anything except death and taxes (duh), but smart people always look at TCO when making any purchase and make educated estimates on things like appreciation/depreciation, and that include performance car.
     
  19. TLLMRRJ

    TLLMRRJ Active Member

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    #19 TLLMRRJ, Nov 2, 2020
    Last edited by a moderator: Nov 2, 2020
    I have quite the car collection.
     
  20. mikey_bs

    mikey_bs Member

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    I agree with what most of you are saying..When I say value I am more referring to which trim holds better value over time. Based on my research a 2018 (first year the performance was available) Performance model 3 vs a 2018 Long range model 3 is about a $2k difference. I don't know the prices of the 2018 long range and performance but if we assume its the same as now, around 8K its safe to assume the performance model will lose a higher % of value in comparison to the long range.

    Aesthetically, I like the performance details but not enough for 8K. I dont care much about speed. Today I changed my reservation to a Long Range. The deal breaker was the new 20'' Uberturbines.....I HATE them and I would need to replace them regardless of the model I get so I went with Long range with Aero wheels and I will be purchasing the 20'' gray performance wheels.
     

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