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What should I do with my Model 3?

AccidentalM3

New Member
May 26, 2021
3
0
Arizona
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!
 

Gizmo35

Member
Aug 4, 2019
149
154
San Diego, CA
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!
I suggest selling it. Paying over $1000 a month on car payment for a car I really dont need would give me regrets too. There will most likely be better improvements on newer models in the future, so you can better plan your future purchase to avoid having such a high payment which should lead to no regrets on the financial side of things going forward.
 
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guzzijones12

Member
Apr 21, 2021
18
13
MD
I bought a used Tesla and it had FSD.
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.
False. I just bought a used FSD Tesla.
If anything they are upgrading the cars to get the most cash in their hands now.
 
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SSJ1

Member
Apr 23, 2021
17
8
USA
Sell. There is a chance where you may even get above msrp considering the state of the automotive market. Not sure how FSD works when selling though.
 
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jonquiljo

Supporting Member
Supporting Member
Sep 26, 2019
1,064
499
SF Bay Area - Marin
Like many others have said -- get rid of the car. Sell it. DO NOT rent it or you will just wear down the value of a new car - literally.

This is best justified by thinking that you made an honest mistake, will take a financial hit - but won't be suffering that financial hit for at least the next 5 years.

Most of us have done things like this before. So don't feel badly - just sell it.
 
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SageBrush

REJECT Fascism
May 7, 2015
12,504
15,510
New Mexico
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 think there is one exception: if the car has a salvage title.
 
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leonar40

Member
Jan 6, 2021
252
140
Bloomington, IN
First, yes, address the health issues. But try not to stress. You are lucky that this is the hottest used car market in years, maybe ever. You will have no problem selling it. Possibly for more than you paid for it!
 
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