What’s my 2016 P100D Worth?

[P100DHG.]

My wife and I are considering a big life change. We are looking at buying a substantially more expensive house/ gentleman’s ranch as they call it in Santa Barbara and a commute that is 70 times longer one way. 70 miles vs 1 mile. As a result my 2016 Model S P100D will very likely have to go. In its place a Model 3 long range $63,000 with taxes and fees for that car. Plus I can get that $7500 tax credit and CA $2500 credit.

Anyway I have 11,750 miles on my P100D. It has every option except subzero. My signature has all the options listed. The build date was Dec 22nd 2016. So it has real leather ventilated seats and AP2 a combo only produced for a few weeks. The condition is pristine, I’m freaking really anal about it.

Tesla has told me that it’s worth $95,000 as of last week and Carmax $93,000 as of today.

I might be hallucinating but I am sure the car is worth $105,000 to $110,000 maybe more? I’m not it a firesale hurry since we haven’t opened escrow on anything but I am starting to consider the thought of parting with my dream car for the good of the family.

My take away from Carmax more then anything else seeing Priuses to Porsches is that I literally couldn't own a car other then a Tesla. (Aside from a classic Porsche or AC Cobra) Which is a good sign for them cause I’m not brand loyal usually.

All that said what is my car worth?

 

[alwaysru]

A P100D sold on the tesla site preowned with 20k miles last week in the high 90’s, with warranty for another 50k miles. I’d imagine you could get a few more dollars from private sale, but if Cali will credit you for taxes by trading into tesla directly, it’s probably worth doing.

 

[Eclectic]

You sure about that CA rebate? If you can afford a gentleman's ranch near Santa Barbara you probably exceed the income cap the state put on its EV incentives.

 

[omar193]

I have been watching P100D prices very closely and placed a $2500 deposit for one from Tesla used recently for $90,900. Mine has 15,000 miles and will come with the 4year/50,000 mile warranty. The only difference is mine has the body color non glass roof. I passed on some non Tesla dealer P100Ds in the mid to high 90s because there was not good warranty coverage and poor trade valuations on my P90D. The 800 lb gorilla are the inventory of 2018 P100Ds that are putting down ward pressure on the used 2016 and 2017 P100Ds. Tesla still makes the market and will take a vehicle on trade and depending on what state you purchase will apply the trade to the purchase to lower the calculated taxes on the new vehicle BUT not in states which give you no tax break on a trade such as California.

 

[hill]

Generally (from experience w/ our S), the moment you hit the driveway apron? Bam - 20% depreciation. We dumped our S w/ less than 700 miles, & some of Tesla's coveted features that they'd recently done away with. It's much greater than 20% once sales tax is factored into your transaction. Also - the $7,500 is now reduced. Bottom line - it's a buyer's market.
.

 

[LAGrove]

I have been watching P100D prices very closely and placed a $2500 deposit for one from Tesla used recently for $90,900. Mine has 15,000 miles and will come with the 4year/50,000 mile warranty. The only difference is mine has the body color non glass roof. I passed on some non Tesla dealer P100Ds in the mid to high 90s because there was not good warranty coverage and poor trade valuations on my P90D. The 800 lb gorilla are the inventory of 2018 P100Ds that are putting down ward pressure on the used 2016 and 2017 P100Ds. Tesla still makes the market and will take a vehicle on trade and depending on what state you purchase will apply the trade to the purchase to lower the calculated taxes on the new vehicle BUT not in states which give you no tax break on a trade such as California.

Can you list the options on your P100D? I've been looking and curious what options were on a 90K car - Autopilot 2.0, sub zero, etc...
Thx

 

[whitex]

Generally (from experience w/ our S), the moment you hit the driveway apron? Bam - 20% depreciation. We dumped our S w/ less than 700 miles, & some of Tesla's coveted features that they'd recently done away with. It's much greater than 20% once sales tax is factored into your transaction. Also - the $7,500 is now reduced. Bottom line - it's a buyer's market.
.

Tesla profit margin on a P100D is probably the highest. As soon as you drive away, the car is now worth less that the cost (not price) of producing a new one. So probably ~30% based on profit margin Tesla claims (i.e. they can produce a new one for 35% less than what a customer just paid for theirs, meaning no reason to pay any more than that to trade it in).

For private party sale, you can discount less, but there you have to deal with the fact that people may not value some of the options, or outright dislike the option and therefore value the car less (say not their favorite color, or they don't want 21" wheels ), or options they don't care about (e.g. pano roof instead of glass roof). Also, when dealing with people who spend over $100K for a car, they expect a much larger discount for used because they often can afford new, so going used it's not worth just few thousand to them. Lastly, there are only so many people in the market for a used car in the $100K range. While I used to sell my sub $50K cars privately in the past to make some extra money, I quickly found that selling higher priced cars is a pain in the rear and takes a long time. I started trading in just to avoid the hassle of a private sale process. Once I even let the bank auction the car when I wanted to terminate a lease early (what the bank offered me as "auction price" was higher than what Porsche dealer was willing to offer as a trade-in).

Bottom line is, expensive (>$50K used) and top-of-the-range-for-the model cars are a pain to get rid of. They remind me of a boat or yacht - and the old saying goes "the two happiest moments of a boat owner are the day they bought it, and the day they sold it". I would say those are probably the two happiest days of a P100D owner too.

PS>From experience, the best resale value seems to be on base model cars. When I was very young (teenager) I was changing new cars every 2 years and the lowest depreciation was always on the base models - the ones with lowest profit margin on the new car.

 

[jaguar36]

Tesla has told me that it’s worth $95,000 as of last week and Carmax $93,000 as of today.

I might be hallucinating but I am sure the car is worth $105,000 to $110,000 maybe more?

$95k Sounds extremely good to me actually. Keep in mind that Tesla regularly sells Inventory P100Ds for under $120k. Those cars still qualify for the Fed rebate, so they are really in the low teens. Your car is ~18 months older and has ~10k more miles on it. Its also missing some newer features that some buyers will value. Then you take away the cost differential between a private party/trade in and a OEM sale and $95k looks very good.

 

[Naekuh]

being a fellow P100D owner i wish you best of luck, had i hate seeing a fellow p100d leaving so cali.

:\

 

[P100DHG.]

Sounds like I just need to wait 6 months and then sell. Enjoy it a bit more and pay it down some. No reason to eat it when I haven’t found my ranch yet. Watch for the P100D firesale when I do. LOL

 

[Naekuh]

i heard u still notice a large difference between a p3d and a p100d.

Your gonna miss that 1.1g pull.

 

[omar193]

Can you list the options on your P100D? I've been looking and curious what options were on a 90K car - Autopilot 2.0, sub zero, etc...
Thx

mine has the body color roof
Silver Metallic Paint
-
Body Color Roof
-
19" Silver Wheels
-
Black Tesla Premium Seats
-
Figured Ash Wood décor
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Black Headliner
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Ludicrous Speed Upgrade
-
Tesla Red Brake Calipers
-
Enhanced Autopilot
-
Full Self
-
Driving Capability
-
Smart Air Suspension
-
Premium Interior Package
Premium Sound

 

[BigNick]

Dude. Your P100D has plenty of range to do 140 miles per day. In sunny, warm California, you don’t get the winter range penalty, so there should be zero range anxiety.

Keep it, enjoy it, drive the snot out of it on the wonderful CA mountain roads. I am sure a 3 is a great car, but it isn’t an S. I don’t think I could live without my hatchback. So versatile. I think if you get rid of your P100D for an S you will regret it.

A long commute is one of the reasons I got my CPO 85, was sick of paying the OPECkerheads $300+ per month. Wish I would have got the Subzero though. I miss the heated steering wheel from my old Impala. I would rather have Subzero instead of Autopilot in PA winter driving.