Welcome to Tesla Motors Club
Discuss Tesla's Model S, Model 3, Model X, Model Y, Cybertruck, Roadster and More.
Register

What is going on with the salvage M3 prices?

Palmtree

Member
Jul 7, 2020
69
44
Missouri
I have been stalking the insurance salvage websites and watching some of the model 3 auctions to get an idea of prices. At one point I was seriously considering buying one of these cars with minimal damage, making the repairs and saving a chunk even though it is risky. No warranty whatsoever and no supercharging is scary but I buy and drive cars that are out of warranty all of the time without too much stress.
The thing is that these cars are going for insane prices with salvage titles. I was following an auction for a 2019 M3 LR AWD with around 9,000 miles. I wasn't even planning on bidding, since it was in CA and I would want to see it in person -- I was just lurking. It didn't have any apparent, visible damage other than covered in soot. The description said "exterior burn" but the tires were not damaged and the plastics didn't look damaged so I'm guessing it was likely exterior smoke damage. The white interior looked perfect, not even dirty. I do believe this car likely didn't need much more than a good cleaning -- but no way to know for sure. Of course it would never have a warranty or supercharging and that seems to me like it would be worth something.
These auctions are a real pain to follow. You have to log in during the live auction and wait and wait and wait for the car to come on the block. If you aren't paying attention when it's up then you just miss out and never even know what it sells for. There is no way (that I know of) to see the results of these auctions after they're over. I did miss the end of this auction because I was working. It didn't really matter because the pre-bids had already run the price up over $32k. That's crazy! When I first started looking at these auctions I really thought I could buy one for $15k or so. I thought that might be worth the risk but not these prices. No way. There are several a day, every day and they all sell way too high in my opinion.
Makes me wonder who is buying all of these salvage Tesla cars. Who's buying them at the auctions and who's buying them after they are repaired. And how are the flippers making any money?
 
  • Like
Reactions: New_Old_Stock

Palmtree

Member
Jul 7, 2020
69
44
Missouri

user212_nr

Active Member
Aug 26, 2019
1,407
744
US
Makes me wonder who is buying all of these salvage Tesla cars. Who's buying them at the auctions and who's buying them after they are repaired. And how are the flippers making any money?

I can't find a link to the video, but Rich Rebuilds did a whole analysis of this, and the amounts that people are paying are beyond absurd. You have to buy multiple cars to get the parts, so the numbers don't even add up counting labor as free.

Don't even consider buying a salvage Tesla to save money. Get a job and save your money, in a few years the used market will be reasonably priced.

Don't even buy a salvage Tesla for 50% off. The supercharging ability + ability to get official service (out of warranty or not) is well worth it, never mind what you have to put in in terms of time + money. If you are that smart to fix a Tesla, you can study and get a well paying job or just finance one, if you already have a good job.
 

notrhj

Member
Apr 17, 2019
264
194
NYC
They part them out
10k for battery
10k for drop in drive unit with suspension
2k for nice wheels and tires
Right there that’s 32k for awd
Electronic modules, inverter, CPU, touch screen $$$K
And there is Low hanging fruit, interior, mirrors, doors, glass, steering wheel, stalk, led lights, airbags.

With some cutting. hoods, trunks, pillars quarter panels, harnesses

With Tesla being stingy with parts. The car is a gold mine in pieces.
 

ra88it

Member
May 2, 2014
356
124
Southland
They part them out
10k for battery
10k for drop in drive unit with suspension
2k for nice wheels and tires
Right there that’s 32k for awd
Electronic modules, inverter, CPU, touch screen $$$K
And there is Low hanging fruit, interior, mirrors, doors, glass, steering wheel, stalk, led lights, airbags.

With some cutting. hoods, trunks, pillars quarter panels, harnesses

With Tesla being stingy with parts. The car is a gold mine in pieces.

Only 10k for the battery? Recent eBay sales are a bit over that on a LR battery.
 

wdolson

Supporting Member
Jul 24, 2015
7,532
10,069
Clark Co, WA
I can't find a link to the video, but Rich Rebuilds did a whole analysis of this, and the amounts that people are paying are beyond absurd. You have to buy multiple cars to get the parts, so the numbers don't even add up counting labor as free.

Don't even consider buying a salvage Tesla to save money. Get a job and save your money, in a few years the used market will be reasonably priced.

Don't even buy a salvage Tesla for 50% off. The supercharging ability + ability to get official service (out of warranty or not) is well worth it, never mind what you have to put in in terms of time + money. If you are that smart to fix a Tesla, you can study and get a well paying job or just finance one, if you already have a good job.

Rich of Rich Rebuilds kind of created a monster. He showed you could repair a damaged S and put it back on the road for cheap (at the time) and then the market got flooded with people trying to do the same and prices of wrecked Teslas went nuts.

These days it's foolish to buy a wrecked Tesla unless you're buying it from the owner and you do your research to know you're getting a good deal.
 
  • Helpful
  • Like
Reactions: XLR82XS and brkaus

Palmtree

Member
Jul 7, 2020
69
44
Missouri
Yeah. It must be for parts most of the time. Also maybe some getting fixed and shipped to countries where even a new Tesla wouldn't have a warranty or supercharging.
 

ra88it

Member
May 2, 2014
356
124
Southland
Yeah. It must be for parts most of the time. Also maybe some getting fixed and shipped to countries where even a new Tesla wouldn't have a warranty or supercharging.
Or countries where the oil crisis has impacted the region.
Or countries where taxes on EV are non existent whereas taxes on petrol/diesel vehicles are charged by the engine size.
 

MitchJi

Trying to learn kindness, patience & forgiveness
Jun 1, 2015
3,975
8,907
Marin County, CA
Of course it would never have a warranty or supercharging and that seems to me like it would be worth something.
I've been considering buying a salvage M3 or MY. supercharging ia a requirement IMO because without it you won't get SW updates. I think that Tesla uses blown air bags to trigger turning off SW which is why (I think) flooded cars don't have it turned off. The grubermotors youtube channel and website have some excellent information about buying flooded Teslas The salvage secreta youtube channel and facebook group are an excellent source of information about buying salvage cars generally. Please don't consider buying a flooded car without watching the GM video that covers the repairs required at different levels of flooding AND the SS videos on buying flooded cars and buying at Copart vs iaai.com. If I do this my tentative plan is to find someone in a local Tesla UG check the cars.

 

About Us

Formed in 2006, Tesla Motors Club (TMC) was the first independent online Tesla community. Today it remains the largest and most dynamic community of Tesla enthusiasts. Learn more.

Do you value your experience at TMC? Consider becoming a Supporting Member of Tesla Motors Club. As a thank you for your contribution, you'll get nearly no ads in the Community and Groups sections. Additional perks are available depending on the level of contribution. Please visit the Account Upgrades page for more details.


SUPPORT TMC
Top