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WTB: 60KWH Model S

Discussion in 'Want to Buy' started by BrandonF, Jul 16, 2013.

  1. BrandonF

    BrandonF Member

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    Before I put down a reservation for a new MS60, I figured it was worth a shot to see if anyone with an existing 60 was looking to trade up. I am pretty flexible with the options I am looking for, my must haves only include the Tech Package and Supercharger access. Outside of that, I am pretty flexible on color options and other installed options. I believe Tesla's offer on the car being traded in to get one of their demo cars is 17% off base price, 1% for each month owned and $1 per mile driven so I am obviously ready to beat that. Obviously since I would be buying it used I won't get the $7,500 tax credit so that will be a consideration built into the price. Here is what I am thinking in terms of framework of what I am willing to pay:

    Hypothetical MS60 with $80,000 price BEFORE any tax credit, owned for 6 months and has 6,000 miles:

    $80,000
    -7,500 to offset tax credit
    -4,000(5% reduction of the car new price, compared to Tesla's 17%)
    -6,000 ($1 per mile driven)

    Total: $62,500


    This isn't necessarily a fixed and rigid offer, just an offer of interest with the framework of what I would be willing to offer at this point in time. I know when trading up for a demo that many people will get sales tax benefits with a trade in, so that is why I would offer around 5% reduction in new car price vs 17% from Tesla as well as no hit on months owned vs 1% per month from Tesla. I also know that someone that just spent $80k on a car 6 months ago may not be interested in letting it go for $62,500 at this point and I totally respect that.

    Feel free to PM me if you have interest. I am not in a huge hurry to order a new MS, so this offer of interest will probably be good for at least 3-4 weeks, that is unless my reservation trigger finger gets itchy:)
     
  2. Mnlevin

    Mnlevin Member

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    At this point I think it is unlikely you will find a seller. There were a few people who thought they could make money on the loaded 85s but that hasn't worked out. I own a 60 and would be interested in buying a 40 if I could find one. My wife loves the car and has glomed on to it so I need one for her shorter range needs.
     
  3. BrandonF

    BrandonF Member

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    You are more then likely correct. I figured it was worth a shot to offer it up to the crowd that might be thinking of upgrading before I put down the order for a new build.
     
  4. lodenthal

    lodenthal Member

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    I have a 60 (pearl white, tech, supercharger, leather etc.) and have what you require though I don't think I'd part with it especially since I'd have to pay more for an 85 and would not get enough out of the deal to make that possible.

    Keep in mind many of us were grandfathered in for the supercharger and if were to replace mine with another 60 then I would have to pay 2,000 for supercharger access which would then make your deal worse from my perspective. I hope you get one! Best car ever....
     
  5. BrandonF

    BrandonF Member

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    I think the fact that owners would hesitate to part with the car for 5% depreciation+ $1 per mile shows how great of a car it is and how satisfied people are. How many other brand new cars hold their value that well in the short term when purchased brand new....I would say not many. Obviously the amount of time most people have owned the MS60 is short and that plays into the scenario, but it still bodes well for residual value down the road.
     
  6. mkjayakumar

    mkjayakumar Active Member

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    Judging from the responses here it appears that OP's offer is low (though I had the exact offer in my mind as I am now looking for a used MS 60), then how can one reconcile the offer from Tesla which is even lower ? Is Tesla getting any traction on their loaner upgrades ?

    I think the real sticking point is the $7500 fed tax credit as to who gets the benefit of that - the initial buyer or the next one ? The initial new car buyer would like to hold onto that since he is not getting any credit for his next Model S (unless of course he does the unthinkable and goes back to the dark ages of driving an ICE)
     
  7. BrandonF

    BrandonF Member

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    Obviously each buyer and seller in the used market has their method and reasoning for valuation, but when it comes to the $7,500 tax credit and its affects on value, I don't see how it can be left out of the equation. If you remove the $7,500 credit from my original post with the breakdown of the offer, then you are essentially left with an offer of $70,000 for a used vehicle with 6,000 miles. Compare that against my ability to purchase the exact same configuration as a brand new car and purchase it at a net of $72,500 when you include the tax credit.

    If you are interested in selling your ~3 month old car with 6,000 miles that you purchased brand new, is it a fair expectation to think it has only depreciated in the 2-3% range? Again, nobody is forced to sell their car, but if they are interested in doing so then the forces of competition at work seem to suggest that in my scenario my offer is probably closer to realistic then someone expecting 97% of a return. Who knows though, the market is the true indicator of worth and people will sell for what other people are willing to pay.

    - - - Updated - - -

    I forgot to mention that I am also very surprised that anyone would be taking Tesla up on their offer of 17% + 1%+ 1$/mile. Seems to me that most Tesla owners are financially savvy and would realize that offer isn't very competitive vs the open market.
     
  8. mkjayakumar

    mkjayakumar Active Member

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    What would be the price of a 3 year old 40k miles Model S 60, with 160 miles max range (accounting for degradation) and that cost $80k new? Perhaps $45k?

    Would that be a better bargain than a Gen 3 ? Definitely a better bargain than anything that is out there today. I would go grab one if available.
     
  9. Rifleman

    Rifleman Now owns 2 Model S's!!!

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    I think the resale price of that model S config will really depend on when Gen III is due to hit the market, and if any other automakers actually try to build a decent EV before then. If Gen III is due out in a few months, the price of the Model S will be depressed, and one will be able to get a brand new EV for similar money soon. If Gen III is not due for another year or two, the Model S will hold its value pretty well, and the $45k mark might be pretty close (although probably still a little high).
     
  10. ModelS8794

    ModelS8794 Member

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    I disagree, i don't think Gen3 availability will impact used-MS pricing much at all, just as 3-Series pricing and availability don't much impact 7-series used car prices. The two cars will be very different size and fit different needs, IMO.
     
  11. Rifleman

    Rifleman Now owns 2 Model S's!!!

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    I completely agree that they are totally different cars, and should not effect each other, but the reality is that for most people, the Model S is the only EV that has the range, size, and styling to be their only/primary car. For many of these people, the Model S costs more money than they really wanted to spend, but in the lack of other EV options, they chose to go with a Model S instead of an ICE. When Gen III is available, I would imagine that many of the people who would really be stretching their budgets to get a Model S will simply go Gen III instead. For the people who can afford a Model S, they will will likely continue to go Model S, but the used market, being made up of mainly of people who cannot afford a new Model S (or choose not to spend that much on a car, even if they can afford it) will have a choice for a brand new vehicle in the same price range as a used Model S. Many of the potential buyers will go with a Gen III, therefor lowering the demand placed upon the used Model S market. Simple economics dictates that lower demand will result in lower price. Just look what has happened to the used Roadster market since the Model S hit the road. As there is now another viable option for the EV driver besides the roadster, many buyers choose the Model S over the roadster, and the price of use roadsters has been somewhat deflated as a result.
     
  12. mkjayakumar

    mkjayakumar Active Member

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    I predict Gen 3 will have 150 miles of EPA range if it is to be priced $45k or under, irrespective of what Elon says.

    What will be the range of a Model S 60 after 3 years 40k miles ? 180 miles ? Priced at $50k ?

    If those are the numbers then it is hard to say which is a better deal, although the $7500 tax credit shifts the equation in favor of Gen 3
     
  13. Andrew Wolfe

    Andrew Wolfe Roadster 472 - S 440

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    I wouldn't touch that car. A properly cared for 3 year old 40k miles Model S 60 will have 185-200 miles of max range. I wouldn't get near one that had 160!
     
  14. qwk

    qwk Model S P2681

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    +1, but the demand for gen III may be so high(depending on how it's priced), the wait could sway some to the used Model S market(if the prices are attractive in comparison).
     
  15. gameon

    gameon Member

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    yeah gen3 will be in that range of 150 to 175 if they are talking about 45k (without tax credit not sure by that time federal credit exist). At the same time it all depends on how fast battery price goes down or come to the sweet spot for $30k price (that will be big hit)

    I was thinking of 40kwh model S price at 50k and take additional 7500 tax credit.. you have something interesting right now... maybe wishful thinking..:wink:
     
  16. SFOTurtle

    SFOTurtle Active Member

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    I second that. I have 7K on mine in 6 months and last week did a range charge to 205 miles. I'm assuming I would show another couple of miles if I re-balanced the battery using full 110v charge as others have reported, but haven't had time to do that yet. Even if 205 is truly the max, if we're supposed to see the steepest degradation in the first year, I'm feeling pretty good about my range in my 60 so far.
     
  17. brianman

    brianman Burrito Founder

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    How "rangist" of you. I would totally get near one because it's still better than a 40 kWh would have been. Hopefully I won't be needing to shop for a(nother) Tesla Model S that soon though.
     

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