Trade-in offer

[Gaximus]

No new car is a wise purchase.

I've had 21 vehicles in my 40 years. I've only bought 1 new vehicle in that time, while it wasn't a horrible purchase, I took my greatest loss on it. My second greatest loss will be my 2017 Model S I got in 2021, bought it used, so I thought I would have scraped off the depreciation. Will probably take a hit on the CB as well, but its so cool, and I understand that going into it, and I plan on holding on to it for at least 5 years, hopefully more (my past in vehicle buying says that incorrect). But to elaborate what you said, "No new car is a wise purchase" doesn't matter about warrenty, or whatever. Its cheaper to fix out of pocket buying used and not having a car payment, then buying new.

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[Mini2nut]

"It's cheaper to fix out of pocket buying used and not having a car payment, then buying new."

Absolutely true.

99.5% of new cars are a depreciating asset that usually plummet 10% - 15% in value the second you drive off the lot. Ford GT40, Porsche Carrera GT, etc. are the rare exceptions to the rule.

 

[bongulous]

Great to hear that you are loving it!

I'm in shambles here..My CT order is almost close to delivery date announcement and here I am...going to lose 20k in a year. Not sure if its a wise decision financially but I can't stop thinking about CT LOL

Money comes and goes, but you only live once my friend. If you absolutely financially cannot afford it, then don’t buy it. You know your own finances best. I’ve had plenty of cars depreciate but I always buy them knowing that they will. That’s just how the car market goes. It’s never stopped me from buying new cars lol but maybe I’m just an idiot.

 

[eswimm]

My second greatest loss will be my 2017 Model S I got in 2021, bought it used, so I thought I would have scraped off the depreciation.

It probably didn't help that used car prices were still at an artificial high in '21. In my experience, Tesla isn't any worse for depreciation than the pseudo luxury cars they compete with. I drove M series BMWs for almost 2 decades and you could buy them all day long at 50% off MSRP at only 2 1/2-3 years old with ~20k miles. We got $21,400 (CarMax) for our 6 year old Model 3 ($49k new) compared to the $11k (Tesla, CarMax offered less) we got for the 7 year old BMW 335i Convertible we traded in for it. I purchased my BMW i8, 2 1/2 years old w/ 16k miles for $65k, $85k less than MSRP w/ the remaining factory warranty and CPO.

 

[lonsomecrow]

OH MAMA...Thanks for schooling me.

 

[lonsomecrow]

People like you are sadist. I'm sure you crawl the web and post comments like this.

 

[getsometom]

I'm curious to see a trade-in offer for a FS Cybertruck toward a regular non-FS and how it will compare.

 

[lowtek]

I'm curious to see a trade-in offer for a FS Cybertruck toward a regular non-FS and how it will compare.

It will be brutal.

 

[Bjhracer]

I bought a model 3 performance in 2019 for 54k. I totaled it last year when a teenager pulled out in front of me and I T-boned her. I had 120k miles on it so value wasn’t that great. Insurance ended up paying out 48k for the vehicle. Only 6k less than I paid for it new. I did have additional accessories and had added FSD and acceleration boost but I didn’t expect those to add much to the value of the vehicle. I had just bought new wheels and tires on it a month before the wreck. I was happy with the payout so I bought a new model Y in December of last year. I am planning on trading it in for my Cybertruck but have still yet to get an offer from Tesla. I got my vin about 3 weeks ago, submitted all the pictures of trade in about 4 weeks ago and today got a notice to schedule delivery for next week. Not sure why it’s taking so long to get a trade in offer on a vehicle only 7 months old. Build date on the Y is December 14 2023.

 

[CT Owner Vito]

My bad. But you're always going to take the biggest hit in year #1 with depreciation. That's not a new thing. It's just that EV's are having a bigger hit earlier.

As a reference, I picked up a Sept 2021 build Model S Plaid (Fall 2021 stickered around $140K) from Tesla's used web site in May 2023 for under $80K. But surely the first owner didn't get $80k from Tesla so maybe they got $65K? So that's $75+K in depreciation for the first owner who had it about 18 months!

I thought that was a smart buy...but then Tesla cut prices on the Model S and I traded in that Plaid last month on my CT. What was I offered? Just under $50K, and I only put on 7,500 miles. At least my $30K hit was less than half of the hit taken by the first owner.

Moral of the story, never be the first owner unless you're keeping it 5+ years!

I purchased my first Model S in 2014. I sold it last November with 227,000 miles on it, and it was worth $15k as per KBB.
I sold it for less, but it still looked and ran like new. Other than more than a few chips in the paint on the hood from driving on the truck side of the NJ Turnpike, it was flawless. Yes, I took a financial hit, but boy was it worth it. To have almost 10 years of trouble free driving and very little maintenance- you can’t put a price on that! Now, add in the forever free SC, and the loss was minimal.

 

[Bjhracer]

They text me again to schedule delivery. There was only 1 day avaliable in the app. I went ahead and scheduled but have still not got my trade in offer yet.

 

[Bjhracer]

How close to delivery do they normally send the trade offer? I scheduled delivery on Monday which was the only day available. I still have not received a trade offer so I can get my financing lined out. I’m afraid there won’t be enough time before delivery. The chat on the app said I wouldn’t receive a trade offer until closer to delivery date. What are your experiences with this? How long does it take to make a trade offer? I can go online and get one from carvana in 20 minutes or so.

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