Why do people purchase CPO vehicles?

[whitex]

Similar for me.

A CPO means I can get a fabulous Tesla, and avoid $20k depreciation the first year.

Additionally, the tax incentives aren't incentive enough for me to go new. Let's say I'm looking at a new $70k Tesla and a CPO $70k Tesla (hypothetically speaking). After the purchase, my bank account is $70k lower in either case. Sure, I'll get my tax credit later, but I never really "see" that liquid money. My bank account stays $70k lower in this hypothetical situation.

You could take $5,000 from a credit card, then pay it off with the $7,500 rebate later. Horrible financial decision as credit card cash is expensive on interest, but if seeing it up-front is your primary goal, it would allow your account balance drop only $65K.

 

[Buster1]

Not a bad idea, and you get airline miles or rewards cash, etc.

 

[Skotty]

I got the original sticker with my CPO, and it was listed new at roughly $114.5K. That would have been 107K after tax credit. My wife and I got it in like new condition with about 13K miles for $72K. That's roughly a $35K discount by letting someone else put on the first 13K miles. Plus, around 70K was the top of our budget, but that would have been barely enough to get a base model small battery new, and we really needed the larger battery of the 85 since I do regular commutes across the state.

I didn't consider private purchase because I wanted to ensure my money was going direct to Tesla's benefit as much as possible.

 

[b team]

I bought a CPO with AP1 for $18K less than it would have cost to buy a similarly equipped new Tesla (after accounting for the federal tax credit). I have no preference for an AP2 car since the technology is currently inferior to AP1. Buying used allows me to accelerate my next Tesla purchase by a couple of years so that I can get into the next generation of Tesla (AP3?) sooner.

 

[mbhforum]

I bought a CPO for 5k less(after tax credits) but it had very low mileage(10k) better battery(85 >60), pano roof and nicer trim. I passed on AP2 and facelift and I admit, 6 months later, I regret not buying new. The facelift really looks sharp and I know soon, I will be jealous that AP2 will outperform AP1. As mentioned above, the up front cost difference was 13k, so my loan would have been larger, and I admit that factored in also as it was just less monthly of a car payment.

I still love my car though!

 

[JST]

If you are looking at a newish car, I agree not much benefit with getting it used.
However, if you are willing to look at a car a couple years old, without the latest tech (autopilot 1 for example), you can get an absolutely amazing vehicle for almost half the price.
Of course, this may not apply to folks who want ap2 and a 100 battery

In my case, I didn't want the autopilot hardware. I have no interest at all in having a car that drives itself. I don't think I've used even normal cruise control in 20+ years.

I also wanted RWD, and the bigger battery, and as much power as I could get.

Since they don't make the P85+ anymore, CPO was my only option.

 

[Skotty]

I got a better deal because I was fine getting an S without autopilot. Haven't looked lately, but in the past AP cars were not as discounted as non AP cars. Hopefully as AP2 cars get into CPO, the AP1 cars will see better discounts.

 

[croman]

I got the original sticker with my CPO, and it was listed new at roughly $114.5K. That would have been 107K after tax credit. My wife and I got it in like new condition with about 13K miles for $72K. That's roughly a $35K discount by letting someone else put on the first 13K miles. Plus, around 70K was the top of our budget, but that would have been barely enough to get a base model small battery new, and we really needed the larger battery of the 85 since I do regular commutes across the state.

I didn't consider private purchase because I wanted to ensure my money was going direct to Tesla's benefit as much as possible.

The 85 is actually only 5kwh more than the "smaller" battery and the ranges are the same. Plus you get a better battery chemistry and no degredation with a new car. It's a great deal, I guess, but you've gotta look at it realistically too. I think my new smaller battery car could go farther on a highway trip due to torque sleep than a classic 85. My car was 91k w.o taxes though. 69k base for a 75D right now though without options and without tax incentives. With incentives you could get some options and match your price.

 

[xyeahtony]

a lot of CPO vehicles are more than $10k cheaper than new. Some people just don't need brand spankin new, others dont qualify for the tax rebate, and others just dont have the money to throw down on a $90k car. But $50k? that's a lot more realistic.

 

[Stan Moraski]

I got a p85 for $56K that had an original sticker of $110, with 31,000 miles and new car warranty. Do the math; don't hurt yourself, just do the math. Already looking for my next CPO!

 

[s00nr1]

Pretty simple for us -- CPO worked for our budget, new did not (especially since no state incentives in OK).

We get a $114,000 car for $47,500 with low miles that will likely be refurb'd/restored to nearly new condition. Easy decision that will translate into another CPO purchase 3-4 years down the road.

 

[b team]

The 85 is actually only 5kwh more than the "smaller" battery and the ranges are the same. Plus you get a better battery chemistry and no degredation with a new car. It's a great deal, I guess, but you've gotta look at it realistically too. I think my new smaller battery car could go farther on a highway trip due to torque sleep than a classic 85. My car was 91k w.o taxes though. 69k base for a 75D right now though without options and without tax incentives. With incentives you could get some options and match your price.

A 75D costs 74.5K base.

 

[whitex]

Does Tesla offer special interest rate on CPO's comparable to new car rates? Any difference with the new high mileage CPO as far as interest rates?

 

[NeverFollow]

Not a bad idea, and you get airline miles or rewards cash, etc.

You don't get miles on cash advance.

 

[Skotty]

The 85 is actually only 5kwh more than the "smaller" battery and the ranges are the same. Plus you get a better battery chemistry and no degredation with a new car. It's a great deal, I guess, but you've gotta look at it realistically too. I think my new smaller battery car could go farther on a highway trip due to torque sleep than a classic 85. My car was 91k w.o taxes though. 69k base for a 75D right now though without options and without tax incentives. With incentives you could get some options and match your price.

At the time, the base option new was the 70. CPOs were pretty much all 60 and 85.

 

[Pipcecil]

This isn't true, I purchased plenty of cars in Texas and rolled the taxes into the loan for the vehicle.

This is true for every other car, but not for Tesla since Tesla can't sell cars in Texas. The CU did give me the option to do the taxes but it was just a personal loan. No thanks. For every other car the dealership does the registration and title for you so all that taxes and stuff is just rolled in. With Tesla you have to title and register it yourself at the County Tax Office - hence completely out of pocket

 

[The Duke]

Guy across the street upgraded his Leaf so he did not have to charge at home. He charges at work only now. He was debating new and CPO.
After a couple of drives in Nicky (my P100D) and another friend's P85D he bought a CPO P85D. His reasoning is AP2 is still in development, the drive to work was stressful on AP2. AP1 drives 90% of the way to work and he trusts it completely. The 85 has plenty of range for his needs. He will invest the difference for a new Tesla in the future. For him a CPO is logical.

 

[dkoi3d]

I don't buy new in general, and to echo everyone else's points - Sticker was 104k for 2015 85D with AP1 (other options), got it for 59k with 4 year warranty, free supercharing and in showroom condition, they even fixed everything I asked (paint chips mostly). Makes zero sense to take depreciation on any luxury car new, unless you have those deep pockets....So when I trade in for HW3 in a few years it won't be that bad...also you get the referral credits and bumped up in the model 3 queue which I can now buy my wife.

 

[b team]

I don't buy new in general, and to echo everyone else's points - Sticker was 104k for 2015 85D with AP1 (other options), got it for 59k with 4 year warranty, free supercharing and in showroom condition, they even fixed everything I asked (paint chips mostly). Makes zero sense to take depreciation on any luxury car new, unless you have those deep pockets....So when I trade in for HW3 in a few years it won't be that bad...also you get the referral credits and bumped up in the model 3 queue which I can now buy my wife.

Congratulations on the amazing deal.

 

[dgpcolorado]

• Not everyone can afford a new Model S, shocking as that seems, but CPO used ones are considerably less expensive and have the 50k mile general warranty and the remainder of the eight year drive train warranty.

• I don't have enough income (being retired and living entirely on savings) to be able to use more than a smidge of the federal tax credit, so that's out. Means that I pay more for a new car than everyone else here.

• My state had a $6000 refundable tax credit that applied to new and used EVs that had never been registered in the state before (since replaced with a $5000 point-of-sale rebate, good only on new cars).


Add it all up and going with a CPO versus new was an easy decision: driving a Tesla versus not driving a Tesla!