Hi all, first time poster, happy S60 owner since Sep 2014. Tesla is amazing (this forum, too!). I'm working with some wonderful folks here in Colorado on the Tesla Motors side of things as well.
I would be grateful for any guidance you could provide for a potential trade up scenario I'm considering.
Background: Model S 60, Pano, Parking Sensors, Supercharger enabled, no autopilot hardware (just missed it), approx 2700 miles (don't drive a ton!).
Just had our first winter here in Colorado, and even with snow tires--there were some tricky spots and tricky days, some scary moments, and days when we wouldn't be able to drive (vs. the Audi Q5).
The 'D' came out, and is very appealing. In our case, the extra range from the 70 is also useful. Wo @hen the 70D came out, I was intrigued. What would a trade-up scenario look like? I got a trade value tonight.
This is where I'm hoping you could help. Here's how it works out. Rough numbers.
* S60, Original price, $80K, No Autopilot w/ Pano, paint, textile, supercharger, now has 2700 miles
* Identical 70D, $80K (same price!), AP enabled (and no power liftgate, let's not go there!)
* Rebates federal and state (CO): $13,500 -- just received from taxes, cash sitting here.
* Trade value from Tesla: $60K
* Amount owned from financing: $66K (note - resale value program) (note - 4% tax was included and financed)
So basically, from what I can tell:
* Depreciation was $20K in the first year offset by $13,500 in rebates (80K to 60K)
* I write a check for $6K negative equity (amount owed after trade, 66K - 60K)
* I start over with a 70D identically spec'd, AP-ready, stronger future resale etc.
* I get the rebates all over again next year
* I only pay sales tax on the difference, 80K - 60K = 20K * 8% = $1,600
* Registration amount is pro-rated and carries over
* Monthly payment and cash flow stay the same
The 'D' will be much better in the snow, I get to reuse my snow tires, the range is useful. Not for nothing, I think the resale value of the 70D relative to the S60 three years from now could be significant (given AP, AWD).
Is there any reason why I would not do this deal every day of the week?