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As Elon has said: staying competitive with "continuous improvement"I have a P85D on lease that I just extended for 6 months. I think the reason you're seeing them drop is because they're all AP1 cars, they're all pre-facelift and like it or not, the Model 3 is forcing down prices of the S.
The car in the original post is basically what I have and if I'm being entirely honest, I wouldn't pay that much for it. I'd much rather grab a brand new Model 3 for less money, AP2.5, a nicer interior, newer tech and more range... Much more range. The range in the P85D kind of sucks.
Don't get me wrong. I love the car. It's the best car I've owned by a long shot but there's more options these days than there were. You're going to quickly start to see Teslas depreciate just like every other car as electric cars become more ubiquitous.
Model S P85D 5YJSA1H41FF099411 | Tesla
Starting to see P85D's in the mid to upper 50's. That seems like a ton of car for the money vs a model 3 long range.
Is this just model S valuations returning to reality or is there something wrong with these cars vs a non-P car?
Aren't these cars mostly "Pre-AP1" meaning they have no AP hardware at all, not even AP1? That could be a big reason for the depreciation. Now that V9 has come out and the value of AP2 has increased so significantly, the value of cars with no AP hardware at all will decrease significantly.
All P85Ds have AP1 hardware. AP1 was introduced at the same time as the dual motor.
People also fail to take into consideration the $7,500 to $10,000 or more Tax Credits and state rebates that apply to new EVs. That significantly reduces the net depreciation that should be factored in.
For me, this represented more than a 10% reduction in cap costs. Think we compare well to people that purchased Mercedes S class or BMW 7 Series.
Add in significant savings on fuel plus free Supercharging and the deal keeps getting better and better.
Agreed. Already ahead by $10k for most California owners
That's crazy, I traded in my 2015 85D with more mileage for around the same price as that P85D. Do Performance versions command less on a trade-in?
It's because of the nosecone!
It's not crazy because the OPs assertion that you can pick up nice P85Ds for $55K is not true.
I just snagged my first Tesla. A 2014 CPO P85D+ with 44k miles for $59.4k. Seems to be fully loaded. My threshold was $65k but then prices just went rock bottom fast so I waited until $60k or less than made the jump. Picking her up this weekend hopefully in Chicago. Then 3 day drive back home
Agreed. Already ahead by $10k for most California owners
Does that even cover the sales tax in CA?
Nope. Willing to shift my deposit to a different model if there's damage that wasn't documented in person. Risky business? Yes. But minor cosmetic problems don't bug me in general. Of course major body damage is a different story.So you haven't actually seen it in person yet?
It really is. I got mine for $56k with a pretty big scratch in the quarter and door. Maybe you would say that doesn't qualify because of the body damage. I only picked this over the rest because it had Ludicrous as well. I strongly considered a 2014 that wasn't highly optioned for $52k. It was in amazing condition and came with Tesla's CPO warranty, it was probably one of the nicest cars I saw in my search. Since I was set on Ludicrous I passed on a lot of vehicles not only in the mid 50s range but in the low 50s. Many of them in great condition.It's not crazy because the OPs assertion that you can pick up nice P85Ds for $55K is not true.
Nope but you can't count sales tax as depreciation since the next guy who buys it ALSO has to pay sales tax.