What should I do with my Model 3?

[AccidentalM3]

On April 24 I unfortunately managed to purchase a Model 3 Performance while in a manic state. I’ve been interested in Tesla for well over a decade and planned on eventually becoming an owner, but I am regretting making the purchase at this stage in my life. I do not need the car and feel burdened by the $1000+/mo car payment and I’m looking for advice on what to do next.

I’ve considered three scenarios. Firstly, I’ve considered selling the car outright and eating the loss. I purchased the car for nearly $69,000 after the FSD upgrade.

I’ve also considered renting the car out on a service like Turo in order to offset some of the cost of the payment, however I have no experience with this app and have not decided whether or not trusting strangers in my new performance car would cause further headaches down the road.

Lastly, I’ve considered keeping the car and footing the bill. I do enjoy the car, however I already have another car which serves its purpose.

Thank you for any input!

 

[sduck]

Sell it. It's new enough that you won't lose much.

 

[TomB985]

Couple of thoughts.

First of all, the big mistake you made was the FSD package, which will be hardest to recoup at retail. Right now you're in a better position than you would be at virtually any point in recent history though, because used car prices are insane. If you don't want the car, the best option is selling it quickly before it loses any more value. That matters even more now with the bubble that is the used car market right now...sooner or later there will be a correction, and you would lose thousand$$$ if you wait.

But think about it. There's a reason you made the purchase to begin with, and your car will hold its value better than most others will. The Model 3 is a really well-made car despite the superficial build-quality quirks; mine has been trouble-free for nearly 40,000 miles. Others have had similar success to well over 100K without issue. These are great cars, and some level of buyer's remorse is typical. Are you sure you want to get rid of it? Maybe lease it on Turo for a few days per week to defray the cost?

 

[Dcruz5056]

Sell , i am interested if the price is right

 

[MikeyMikeD]

You forgot the option of keeping it and selling your other set of wheels. In this market, you may be surprised as to what your current set of wheels could bring in and offset the cost.

 

[Resist]

Put it in storage until the new rewrite software comes out, then your FSD will most likely increase the value of the Model 3.

 

[oreobbq]

Keep it and enjoy if you can afford to. I wouldn't pimp it out on Turo unless you don't mind the wear and tear.

 

[Gasaraki]

Sell.

 

[bro1999]

Get some quotes from Carvana, Vroom, etc. You may be shocked at what offers they come back to you with.

 

[SageBrush]

Renting out the car sounds like a bad idea since it would attract people who want to abuse someone else's sports car.

 

[mazers]

I'd keep it for a while, at least. Rumor has it that FSD is increasing from 10k to 14k soon so that will help with resale value. Once you start driving it, you will most likely want to keep it.

 

[KenC]

Definitely don't rent it out. Sell it if it makes sense.

 

[Wvapoker]

I'd keep it for a while, at least. Rumor has it that FSD is increasing from 10k to 14k soon so that will help with resale value. Once you start driving it, you will most likely want to keep it.

Deleted post.

 

[guzzijones12]

Sorry to hear you had a manic episode. I suffer from anxiety and I know how bad it can get. And no you can't just 'stop thinking about'. It works much like a broken bone. These things take time to heal. Having said that, you didn't flush your money down the toilet and used car prices are insanely high right now. Sell it and go about your life if that will make you feel better in a few weeks.

 

[SageBrush]

it [FSD] has been disabled on some private sales

Hogwash

 

[mazers]

This assumes that the software service of FSD will transfer as part of a private sale. Tesla is removing it and charging full priced for it on resale and I’ve heard that it has been disabled on some private sales.

I have not heard of a single time that Tesla removed it as part of a person to person private sale. If someone bought FSD and sold the car to another person, the software goes with the car. They have removed it after someone traded it in to Tesla and that is up to them - they can do whatever they want with that kind of exchange.

 

[bjrosen]

FSD will get disabled if the car passes though Tesla's hands, it will stay with the car for private sales. However it doesn't add much to the value of the car, if you sell the car then that's money out the window. People who buy used cars, even lightly used cars, are looking for a bargain, they aren't interested in an expensive option especially one that doesn't do much yet.

If I were you I'd sell the other car and keep the M3. It will give you a lot of years of good service, it's fun, and eventually FSD will actually be FSD.

 

[Wvapoker]

I have not heard of a single time that Tesla removed it as part of a person to person private sale. If someone bought FSD and sold the car to another person, the software goes with the car. They have removed it after someone traded it in to Tesla and that is up to them - they can do whatever they want with that kind of exchange.

I’ll stand corrected. What I’ve read is Tesla is removing it when the cars are sold at auction and the buying dealer advertises the car with FSD at resale.

https://www.reddit.com/r/teslamotors/comments/muc8sg

 

[CorneliusRox]

Sell it as soon as you can.

It's pretty big of you to admit that it wasn't the right financial decision. Most people can't or won't ever admit that.
Get rid of it now while the market is super hot, take the loss as a lesson learned, and move on.

You'll have plenty of time to save and buy one later!

 

[jjrandorin]

I’ll stand corrected. What I’ve read is Tesla is removing it when the cars are sold at auction and the buying dealer advertises the car with FSD at resale.

https://www.reddit.com/r/teslamotors/comments/muc8sg

That is consistent with what we know, which is that if the car is ever sold back to TESLA then FSD is removed. If its sold back to tesla, and then tesla sent it to auction, FSD will be removed.

As mentioned there is not a SINGLE instance we know of, of FSD being removed in a private party sale between the original owner and someone else.

TL ; DR ... when buying a tesla from a third party lot, do not factor FSD into any sale price they offer. When buying a tesla directly from the original owner, FSD can be factored into the sale price because it will stay with the car under that circumstance.