Wanted to share my experience today - I currently have a 2014 P85 with 7,000 miles and all options except 21" wheels, air suspension, and 3rd row seat. I was "toying" with the idea of getting the P85D. I know Tesla uses Starwood Motors in Texas for trade ins ( at least until the certified pre-owned program started) so I called them directly to get a price - here's the shocker now - car new was about $112k before $7.5 k federal rebate and the offer was $54k for a car a year old ( delivery 5/14) - Roughly a 50% hit!! In fact, my buyback guarantee is about the same, but at 36-39 months with up to 45k miles!! How's that for a low ball offer?? I guess I'll keep it a little longer now, or at the minimum, keep it till buyback period......
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Bonlaw
Member
That doesn't sound right. I sold mine to a local dealer for $53 plus a MB to drive for two months while my 70d was being built. But mine was a 2 year old 60 with 31,000 mi and only leatherand nav/lift gate package and supercharger. It did not even have parking sensors or retracting side view mirrors, let alone all of the new autopilot goodies. Tesla CPO was around $48.5.
Definitely an extremely low lowball offer (insult?). When we traded our P85 for the P85D in December we got well over $10k** more and our car had over 2x the miles yours has. Maybe the flood of trade ins has depressed the market since December, but at that kind of valuation it makes one wonder.
**I just looked at the trade in annex from the purchase agreement for our P85D. They gave us $75,300 for our 2013 P85 with 18k miles on it.
Super_Popular
Well-Known Member
They also probably do not want more inventory......used Tesla's aren't exactly selling like hotcakes.
jeffro01
Active Member
I think this is a unique problem that will generally only affect the pre D and pre-sensor package Model S's. I mean think about it, if you were looking for a pre-owned Model S would you want one without at least the sensor package?
Just my two cents, maybe I'm way off base but that's how I see it.
Tesla is going to have a problem moving a lot of these cars.
Jeff
Super_Popular
Well-Known Member
I agree somewhat. We have owned several Tesla's in the last two years, all of them have taken several months to sell. Except for the P85D, that sold in two weeks and at a small profit. The main reason we sold the P85D was because we felt it was not worth the amount we paid for it and we got it a pretty good discount. The new features are nice but are still in the beta phase and where pretty glitchy. I feel that in a year or so the P85D will be an amazing car, but now for the price it is so not worth $115+ ...in my opinion.
We could't wait to get back into the older model Tesla, so far WE feel the VIN's between 13K and 25K are the best.
As for the sensors, meh they are ok on the older and newer cars, not much to write home about.
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PokerBroker
Member
BoerumHill
not great not terrible
5.76
Wonder what the days sales outstanding is? Plus there has to be a significant shadow inventory based on the massive number of CPO cars at large SCs that haven't gone live yet.
Those are the numbers of tesla removed from the websites. Some do go back into the unsold pot. So I am not 100% sure it's 5.76 per day.
IMO, tesla is artificially keeping the price of the model S high. Here is how they are doing it:
1) Buy back guarantee announced by Elon at the beginning of sale of Model S.
2) Keeping the CPO price high.
3) Slowly releasing CPO cars to match supply and demand
IMO, these are sure way to get into trouble down the road. As most has hinted already, there will be a massive flood of CPO Model S when the X comes out. Sure Tesla can play tricks like slowing down the Model X production so these trade-ins are controlled or better yet, they might just delay those who want to trade in their Model S. Remember Elon promised them they will buy back their car if normal use condition are meet so they cannot deny people a trade-in for a certain price.
The current CPOs are for sure not priced properly and given other car companies releasing longer range BEV, the demand will only drop. But so far, there are little pressure for Tesla to drop their price because they are the only game in town even if their car is used. This will not be true down the road.
If I were to bet, I say tesla will be dropping their price on these CPO more aggressively when the Model X comes out and especially with other manufactures release longer range BEV.
TomServo
Active Member
I'm a patient soul and am waiting for CPO prices to drop. I know the Highland (Chicago store) had over 100 pre-owned cars on their lot. There is even a YouTube video of some guy driving around describing all the cars, and yes it appears they are slowing releasing cars as they sell. I wonder how many Model S owners will trade to a Model X? And re the AWD/Sensors, I'm more interested in a low mileage, nicely optioned green P85. So I hope there is one out there about to be traded for an X.
Most people I know who want a Model S and are considering a used one don't care whether it has sensors and none of them need AWD so don't care if it's a D.
I think you may be generalizing based upon your opinion. My experience has been different.
jeffro01
Active Member
That very well may be, I would concur with your assessment of my assessment.
Jeff
Alysashley79
Active Member
I disagree..my car is a nov 13 build pre sensor and pre auto tilt mirrors (missed by two weeks) regardless. I love my car just the way it is. If I lost her I'd look to replace her not with a new tesla. I'm probably in the minority here. But don't care for the dual motor or the auto pilot. I love the RWD!!
Two things are happening with CPO cars 1) slowly going on the CPO list and two each service center got two to three that they will keep solely for service loaners so that we aren't being forced to get enterprise cars which makes a lot of sense!
Two things are happening with CPO cars 1) slowly going on the CPO list and two each service center got two to three that they will keep solely for service loaners so that we aren't being forced to get enterprise cars which makes a lot of sense!
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