Rapid depreciation

[dalton108]

I’m an attorney and although I am not offering legal advice common sense seems to indicate caveat emptor. Be well friend.

This is, also, correct.

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[dalton108]

What exactly are you trying to accomplish? You want to seek legal recourse for the unfolding of reality that deviated from your expectation of it? Maybe there is a crystal ball insurance company that you could have used that would have anticipated your personal ideologies conflicting with that of the founder and CEO of the company that you bought the truck from.

If you like the truck which you admitted that you do, I don't see what the issue is or what you could possibly be trying to make happen here from a legal or logical perspective.

Is it really that hard to suss out? Do you think that being obtuse in this situation makes you seem smarter?

I mean seriously; isn’t it obvious what he’s getting at? Whether you agree or not; obviously you don’t (See how easy that was to deduce?). Do you want us to believe that you can’t comprehend where he’s coming from?

 

[17hertz]

Is this your first time buying a new car? Every car I ever had drops in value but I own my own business and need a car to get around for work so I depreciate it over time. I don't plan to sell it and I love it. Write off the interest, depreciate the car. Normal stuff. It's a luxury car if u don't like it personally sell it, take the hit and move on. If you like it keep it, who cares about the value. It's not an investment appteciating asset it's a liability.

 

[dalton108]

Look, I'm gonna need you to get all the way off my back.

Well, let me get off of that thing.

 

[Ken in Miami]

Man, if you buy most higher priced vehicles new, you should know if you plan on selling before five years it will have a high cost of ownership. All cars I plan on keeping less than two years I just lease and be done with it. I bought this truck to enjoy and I do. Vehicles like Toyotas may depreciate less and be a great car to drive. I like to drive and guys who drive Hell Cats are not the same personality as someone driving a Subaru. Keep your chin up and remember Politics are politics, Just hope if the time comes and you see that sentry video, just hope it is a cute butt and not a Great Dane doing things to your door!
I have very dark tint windows and sentry recordings show the reasons for the weird imprints of mostly women trying to cup their hands to see inside, then fingers rubbed down the side of the truck. No hostility just strange reactions.
There is a You Tube channel showing how bad some guys are upside down financially in their trucks, it is very sad. Negative equity is a weight you do not wish to carry.

 

[dalton108]

Man, if you buy most higher priced vehicles new, you should know if you plan on selling before five years it will have a high cost of ownership. All cars I plan on keeping less than two years I just lease and be done with it. I bought this truck to enjoy and I do. Vehicles like Toyotas may depreciate less and be a great car to drive. I like to drive and guys who drive Hell Cats are not the same personality as someone driving a Subaru. Keep your chin up and remember Politics are politics, Just hope if the time comes and you see that sentry video, just hope it is a cute butt and not a Great Dane doing things to your door!
I have very dark tint windows and sentry recordings show the reasons for the weird imprints of mostly women trying to cup their hands to see inside, then fingers rubbed down the side of the truck. No hostility just strange reactions.
There is a You Tube channel showing how bad some guys are upside down financially in their trucks, it is very sad. Negative equity is a weight you do not wish to carry.

This is happening with all Teslas. Model 3s are not luxury or high priced vehicles and they are experiencing the exact same egregious price drops for resale. This is across the brand. It’s not happening in a vacuum.

What is this disease where people can’t face facts called? There seems to be an epidemic. ?

 

[TheWholeBrevityThing]

Is it really that hard to suss out? Do you think that being obtuse in this situation makes you seem smarter?

I mean seriously; isn’t it obvious what he’s getting at? Whether you agree or not; obviously you don’t (See how easy that was to deduce?). Do you want us to believe that you can’t comprehend where he’s coming from?

The guy paid for a Cybertruck and got a Cybertruck. he didn't buy gold bullion or stable coins.

Now, amidst sensationalized political nonsense the perceived value of said truck seems to be less than he expected it to be so he wants to pursue legal action.

I think I understand ?

 

[dalton108]

The guy paid for a Cybertruck and got a Cybertruck. he didn't buy gold bullion or stable coins.

Now, amidst sensationalized political nonsense the perceived value of said truck seems to be less than he expected it to be so he wants to pursue legal action.

I think I understand ?

I don’t think you do. Because the question that he’s asking is pretty simple:

Are the actions of the CEO actionable if I believe that his actions have caused extra depreciation of my vehicle?

Correct Legal Answer: Maybe. But not without more and probably not yet. You’ll probably fail. [Which, btw, is precisely what he asked for.]

A perfectly reasonable response would be “hey, I see where you’re going with this but I don’t agree.” But to act like you don’t see where he’s going doesn’t make you seem smart. Does that make sense? Because this wasn’t really a difficult test.

 

[TheWholeBrevityThing]

I don’t think you do. Because the question that he’s asking is pretty simple: Are the actions of the CEO actionable if I believe that his actions have caused depreciation of my vehicle? Correct Legal Answer: Maybe. Probably not yet. You’ll probably fail. [Which, btw, is precisely what he asked for.]

A perfectly reasonable response would be “hey, I see where you’re going with this but I don’t agree.” But to act like you don’t see where he’s going doesn’t make you seem smart. Does that make sense? Because this wasn’t really a difficult test.

Right, except for the actions of the CEO are highly opinion based and dependent on your current ideologies. So whereas 55%+ of the population might not take issue with the current actions, and the other 45% do, the basis for this legal action would be politically motivated and falls back onto individual opinions and ideologies.

Yes?

 

[koolio]

If you didn't play on your truck dropping at least 20% in value then you are at fault. The truck has actually held it's value better than many thought considering the drop in pricing from FS to non-FS.

This sounds like a political issue for you.

100%, sounds to me like a political issue and then using that as the excuse to blame CT or Elon for being upside down on the loan. If he’s happy with the truck, who the hell cares what his trading value is. It’s not realized until he sells it (just like a stock). Now, if he can’t make the monthly payments anymore and is upside down well then that’s the result of the financial decision he made in purchasing the truck.

I get if something unforeseen happens financially and one can’t make a car payment (and it sucks) but there’s a reason why ppl put a lot of money down on a vehicle to protect from being upside down.

When I took delivery in December, my advisor said he’s never seen someone put that much down on a CT. He said most put down the minimum to get the loan, and have a $1300+ monthly payment. So, at least in my area and based on a small sample size, there are a lot of people at risk of being upside down on their loan.

 

[furbyland]

sooo, not the point I made. I’ve asked Tesla to buy the truck back per the ban on selling it within 12 months and they are silent. No number has come back yet. And it’s great that you have plenty of equity, I don’t. And now the truck is depreciating at a rate far faster than it was before. No one could have anticipated what is going on with Tesla re its stock price nor the resell market. And let’s not pretend than non Tesla related actions are having a substantial impact on both.

Vehicles are a TERRIBLE investment. Driven off the lot, any brand depreciates a lot. Surely you knew this. Buying a brand new model, largely unproven, is a large risk despite the brand or perceived value. Many bought a refreshed Model S only to see it drop +20% in less than a month due to price lowering a while back. You just have to accept or bail and move on.

 

[dalton108]

Right, except for the actions of the CEO are highly opinion based and dependent on your current ideologies. So whereas 55%+ of the population might not take issue with the current actions, and the other 45% do, the basis for this legal action would be politically motivated and falls back onto induvial opinions and ideologies.

Yes?

What’s opinion is whether you agree with his positions or not. Causation is not based on opinion. It’s solely based on actions.

Here’s what $200 worth of deep research concludes note this is just the conclusion:

Tesla’s current depreciation rates are unusually high relative to its own history. Where Teslas once held their value better than many peers, now they are losing value faster than the average EV and on par with the most steeply depreciating luxury cars. In 2023, used Teslas dropped roughly a quarter of their value – a pace that is atypical and driven by unique circumstances (Tesla’s pricing strategy, a surplus of inventory, and shifting market conditions).

Deep research gave me a lot of stuff and I don’t want to post it all here (simply because it’s voluminous) anybody that wants to do their own research on first establishing whether Teslas are depreciating at a faster rate than other cars currently or then they have historically. You could do that. The question is why and that wouldn’t be based on Elon’s opinions that would be based on his actions. And if those actions can reasonably be tied to economic harm experienced by OP or anyone else for that matter.

The deal is simple if they are and if we consider the totality of the circumstances including security risks that we suddenly face there is an argument to be made that Elon who has a duty to Tesla to protect its value has breached that duty and that might be actionable. There’s a lot of holes that this guy would have to fill in if he wanted to pursue that and it would be easy to shoot a lot of holes in it. I am saying a couple of things and a couple of things only:

1. It’s not fucking crazy what he’s thinking.

2. If things keep going this way you’ll probably actually see a class action.

3. Success is not guaranteed. Far from it, will likely fail. But I certainly wouldn’t rule it out.

 

[Cactusrick]

This isn’t political per se. but as we all know, all of our cyber trucks have had a rapid depreciation due to the non Tesla related antics of its CEO. If I’d have known this is where we’d end up, despite the fact that I love my truck, I wouldn’t have bought it. Now I can’t get out of it because it’s worth less than I owe. Curios if any attorneys on here think there is a class in the making.

You are the problem...and crying ambulance chasers ...Grow the fk up

 

[dalton108]

A sphincter says what?

Your the problem...and crying ambulance chasers ...Grow the fk up

 

[thag]

This isn’t political per se. but as we all know, all of our cyber trucks have had a rapid depreciation due to the non Tesla related antics of its CEO. If I’d have known this is where we’d end up, despite the fact that I love my truck, I wouldn’t have bought it. Now I can’t get out of it because it’s worth less than I owe. Curios if any attorneys on here think there is a class in the making.

Enjoy your truck, not everything is bout ROI.

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