While on vacation in Cancun (102*F warmer than today’s -22*F in Iowa), Elon tweets that my referral code will become worthless tomorrow (Feb 1) when the referral program ends. I’m totally bummed because I needed just one referral (3rd) for 21” Arachnids on my Sig Red P85. Those list for $6k, but can be found new and for sale for $3k to $5k from referral winners who are selling them on TMC and elsewhere. So on the plane ride home, I had the idea of possibly selling my 3, or trading it in with Tesla, to buy a Jan 2019 built (ensuring higher quality coming off the Fremont line recently) MR 3 w/o EAP (since it’s turned out to have very limited value/usefulness in my Quad Cities area with no highway driving, nor much traffic congestion). My goal was a self-referral (I.e., free Arachnids) if I could remain in a similar 3 but without EAP, and not get killed on depreciation since I just read an article about the 3’s amazingly high resale value. I fully expected to have the fair market value reflect that every EV depreciates $7,500 instantly when sold because of the tax credit; acknowledged. I put my 3 for sale on TMC at $49,999 and lowered it a day later to $49k. And ran a free cars.com ad for the same $49k. I was thinking I’d maybe get a potential buyer to offer mid-$40k...and after 4 days...nada, zilch, nothing...beyond idiot scammers who asked if I have both “keys” and does the engine leak, or any rust? Not kidding. So I also reached out to Tesla and explained my plan to self-refer for my 3rd prize, but looking to downgrade and go sans EAP, while hoping to not lose too much money after only 1,400 miles and not a scratch. Well, Tesla offered only $40,600, which amounts to $14,100 less than I paid Tesla last month, which is a whopping $10 per mile of depreciation I’m sharing this on TMC because many folks speculate a lot about FMV, depreciation, how tax credits affect resale value, and many other items that this post addresses with real-world data. Not looking to have big discussions or disagreements with anyone; just thought I’d share some factoids for those who cared or wondered.
And, no, I’m not trading. Nor selling. Just going to keep driving and enjoying my Teslas. And if you’re in the QCA, renting out the 3 for those who want to experience what this craze is all about
Last edited by a moderator: