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What is my car worth? tesla low balling me
- Thread starter bavsingh
- Start date
CapeOne
Active Member
Teslas sold to CarMax also go straight to auction (are wholesaled). CarMax stopped retailing Teslas about a year ago.
teslas after roughly March 2017 were initial owner only free unlimited supercharging. Those should drop fusc if transferred.
cars prior to that should remain unless sold to Tesla.
Cleo-n-Company
Member
Bottom line -- Tesla resale is miserable.
My P85+ was worth about 15% of MSRP after 6 years.
I can't think of a single car I've owned in my lifetime where the value has plunged so preciptiously.
Depreciating asset indeed...
My P85+ was worth about 15% of MSRP after 6 years.
I can't think of a single car I've owned in my lifetime where the value has plunged so preciptiously.
Depreciating asset indeed...
Huh. Mine is about 40% after 5 years which is in line with similar cars.
70D. Stickered at $80. Worth $32k. That ignores $7500 which isn't really fair.
Performance models get hit harder - in every iteration. Except that Porsche does very well. But I am thinking an AMG MB does pretty horribly.
Even in 6 years, mine will not be worth $12k which would be 15k - that is absurd.
Still trying to imagine 15% for a P model.
New $120k?
15% would be $16k. That is a crazy low ball. In no world is that normal.
Even if you loaded it up for $150k, it should still be worth well above $22k.
Now if your miles are 150k, you might be close to low 20s but even then I doubt it.
Using a lowball offer that someone is going to auction with is not the real resale.
70D. Stickered at $80. Worth $32k. That ignores $7500 which isn't really fair.
Performance models get hit harder - in every iteration. Except that Porsche does very well. But I am thinking an AMG MB does pretty horribly.
Even in 6 years, mine will not be worth $12k which would be 15k - that is absurd.
Still trying to imagine 15% for a P model.
New $120k?
15% would be $16k. That is a crazy low ball. In no world is that normal.
Even if you loaded it up for $150k, it should still be worth well above $22k.
Now if your miles are 150k, you might be close to low 20s but even then I doubt it.
Using a lowball offer that someone is going to auction with is not the real resale.
Last edited:
Just purchase a car with FSD
Elon Musk doubles down on his claim that Tesla cars are now “appreciating assets” and says that they should be worth $100,000 to $200,000 with the Full Self-Driving package.
Earlier this year, Musk claimed that Tesla vehicles are now “appreciating assets” due to their self-driving capability.
He aims for Tesla vehicles to become revenue-generating assets for their owners, but if the price doesn’t increase, the value would still depreciate since new buyers could still buy the vehicles for the MSRP.
The CEO later confirmed that Tesla plans to “substantially” increase the price of the Full Self-Driving option over time:
Please note that the price of the Tesla Full Self-Driving option will increase substantially over time.
He confirmed that it is what he meant by Tesla vehicles becoming “appreciating assets”:
The Fully Self-Driving package still hasn’t delivered its namesake capability, but Musk claims that it will achieve full autonomous driving capability by the end of next year.
Tesla did already start to increase the price of the Full Self-Driving package.
Now Musk claims that Tesla’s cars “should be worth $100,000 to $200,000” with full self-driving capability:
The CEO says that the vehicle will be worth more because they will be used a lot more often as self-driving taxi vehicles on Tesla’s upcoming Uber-like network.
Musk added that Tesla will charge a fee to put your car on their network and earn money:
Tesla will charge a percentage fee for being in our robotaxi fleet, but it will rise to whatever the clearing price is, otherwise all our cars will be bought by scalpers.
When arguing about the difference between Tesla cars becoming revenue-generating assets or actual appreciating assets, Musk said:
Musk’s new comments come after Tesla updated its pricing and options across its lineup last night — resulting in several price cuts.
Now he says that Tesla will increase the price of the Tesla Full Self-Driving package by “~$1000 on August 16.”
Electrek’s Take
I agree with Elon about the difference between a revenue-generating asset and an actual appreciating asset, but there’s another problem here.
Elon is right that with full self-driving capability, if Tesla keeps increasing prices, Tesla’s vehicles would become appreciating assets.
Elon Musk doubles down on his claim that Tesla cars are now “appreciating assets” and says that they should be worth $100,000 to $200,000 with the Full Self-Driving package.
Earlier this year, Musk claimed that Tesla vehicles are now “appreciating assets” due to their self-driving capability.
He aims for Tesla vehicles to become revenue-generating assets for their owners, but if the price doesn’t increase, the value would still depreciate since new buyers could still buy the vehicles for the MSRP.
The CEO later confirmed that Tesla plans to “substantially” increase the price of the Full Self-Driving option over time:
Please note that the price of the Tesla Full Self-Driving option will increase substantially over time.
He confirmed that it is what he meant by Tesla vehicles becoming “appreciating assets”:
The Fully Self-Driving package still hasn’t delivered its namesake capability, but Musk claims that it will achieve full autonomous driving capability by the end of next year.
Tesla did already start to increase the price of the Full Self-Driving package.
Now Musk claims that Tesla’s cars “should be worth $100,000 to $200,000” with full self-driving capability:
The CEO says that the vehicle will be worth more because they will be used a lot more often as self-driving taxi vehicles on Tesla’s upcoming Uber-like network.
Musk added that Tesla will charge a fee to put your car on their network and earn money:
Tesla will charge a percentage fee for being in our robotaxi fleet, but it will rise to whatever the clearing price is, otherwise all our cars will be bought by scalpers.
When arguing about the difference between Tesla cars becoming revenue-generating assets or actual appreciating assets, Musk said:
Musk’s new comments come after Tesla updated its pricing and options across its lineup last night — resulting in several price cuts.
Now he says that Tesla will increase the price of the Tesla Full Self-Driving package by “~$1000 on August 16.”
Electrek’s Take
I agree with Elon about the difference between a revenue-generating asset and an actual appreciating asset, but there’s another problem here.
Elon is right that with full self-driving capability, if Tesla keeps increasing prices, Tesla’s vehicles would become appreciating assets.
ucmndd
Well-Known Member
@bavsingh I just sold my 2017 MS 75D, 39,000 mi, Enhanced AP, Warranty, exceptionally clean. Sounds close to yours.
Carvana offered $36, Vroom offered, $45, and I had a few bites with private sales and individuals around $48-$50. Ultimately I sold it to AutoNation at $48! They made me an offer I couldn’t refuse.
Not sure what year yours is, but I had unlimited supercharging too... it doesn’t transfer in 2016 or later cars.
Carvana offered $36, Vroom offered, $45, and I had a few bites with private sales and individuals around $48-$50. Ultimately I sold it to AutoNation at $48! They made me an offer I couldn’t refuse.
Not sure what year yours is, but I had unlimited supercharging too... it doesn’t transfer in 2016 or later cars.
CapeOne
Active Member
Based on other posts from @Cleo-n-Company, the car was a 2013 MS P85+ with 72k miles and originally had a new retail price of $130,000. His lowball offer from Tesla was $18,000.
If the above is correct:
$130,000 - $7,500 (tax credit) = $122,500
$18,000 / $122,500 = 14.7% or rounded to 15%
However, he did much better with Carvana. I'm not sure when these trade values/offers were made.
CapeOne
Active Member
Wow! That’s more than Tesla is asking RETAIL for 2017 MS 75Ds with FSD.
35k miles, $45,300 - 2017 Model S | Tesla
37k miles, $45,600 - 2017 Model S | Tesla
39k miles, $45,700 - 2017 Model S | Tesla
39k miles, $46,400 - 2017 Model S | Tesla
ucmndd
Well-Known Member
As I expected. This is basically the same as claiming your car has depreciated 99% because someone hollered “hey I’ll give you a thousand bucks!” from across a Walmart parking lot.
CapeOne
Active Member
Sort of, although this was (apparently) an actual Tesla offer and not just some random guy on the street throwing out numbers.
kinda makes you wonder if some of these car places are using some sort of algorithm for pricing offers...and Tesla's unique pricing/price changes, etc, sometimes cause the companies to make offers that actually are excessively high for the market? Either way GOOD SALE
CapeOne
Active Member
I'm surprised the Vroom offer was so high given their own asking prices. $45k for a 2017 MS 75D with 39k miles when they have ones with fewer miles with RETAIL prices of $44,980 to $46,980??!!
37k miles, $44,980 - Used 2017 Tesla Model S For Sale ($44,980) | Vroom
37k miles, $45,980 - Used 2017 Tesla Model S For Sale ($45,980) | Vroom
30k miles, $46,980 - Used 2017 Tesla Model S For Sale ($46,980) | Vroom
Cleo-n-Company
Member
The numbers are very straight-forward. And I was actually being a bit charitable to Elon before by rounding things off.
Here are the simple facts. If you're in disbelief (in that "fake news" camp) I can probably dredge up the original window sticker and the email from the polite Tesla guy at corporate explaining the 18K trade-in offer a few months ago.
2013 P85+ -- Purchased the car used in 2017 for about 50K. Was beyond floored that the car originally went out the door for $130,000 (!!!!!) I can't afford a 130K car. I could barely afford a 50K car. But my wife and I are dedicated to the notion of trying to save our planet for our kid.
It looks like someone else did the basic math as well - but 18 / 130 = 13.8%. 86.2% below sticker. Now that's depreciation!
I'll be even more charitable and assume the original buyer cost at $122,500 because of the federal credit at the time.
18 / 122.5 = 14.7%. So 85.3% depreciation.
If this makes some defender out there feel better, I'm happy to help you out.
ucmndd
Well-Known Member
The problem with the "very straight-forward" numbers is you're building your depreciation case by taking the worst-case obvious lowball offer you received by a single entity that is trying to tell you politely they really don't want to buy your car, instead of using market values for the car in question. It's disingenuous.
Cleo-n-Company
Member
You are 100% correct. Carvana and Vroom use
Uh... I'm not building a case. This was not some dreamed-up scenario.
This was the exact figure I was offered by Tesla when I was considering placing an order for a Model 3.
If the manufacturer is the one doing the lowest of the low-balling... the message to me...as a Tesla owner... is that the manufacturer doesn't give a sh** about customer loyalty, or making a current customer feel good about their purchase.
We can all agree that Tesla has little to no interest in the used car business. Duly noted. But the great thing about mathematics... numbers don't lie. They are what they are, in their blessed simplicity.
Cleo-n-Company
Member
Were we not supposed to note most of the cars listed in your example had list dates from 2017 ?
Surely an oversight on your behalf.
