Hello, thanks for all thew comments! Really appreciate it. I reached out to a telsa advisor yesterday and the numbers don't make sense i would be upside down and owe money and the better option is to wait and pay the ID4 off first and then sell it. I am going to take this as a learning experience this being my first EV. Don't get me wrong i really like the ID4 but being a network admin (tech guy) the lackluster attitude from VW drives me nuts. I get it this is the first fully EV for the company but they can do much better in my opinion with there customers. Regards my emporia will serve me good when i eventually join the Telsa family. Who knows what will be out there in a few years with Telsa. I drove with the wife to a local Telsa this passed wknd here in lakeworth fl and my favorite was those 20 inch black rims on the model 3 performance they were so fresh.
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Own a 2022 ID4 Pro/s but interested in the model 3 performance. Have some questions
- Thread starter Telsa0225
- Start date
Hello, thanks for all thew comments! Really appreciate it. I reached out to a telsa advisor yesterday and the numbers don't make sense i would be upside down and owe money and the better option is to wait and pay the ID4 off first and then sell it. I am going to take this as a learning experience this being my first EV. Don't get me wrong i really like the ID4 but being a network admin (tech guy) the lackluster attitude from VW drives me nuts. I get it this is the first fully EV for the company but they can do much better in my opinion with there customers. Regards my emporia will serve me good when i eventually join the Telsa family. Who knows what will be out there in a few years with Telsa. I drove with the wife to a local Telsa this passed wknd here in lakeworth fl and my favorite was those 20 inch black rims on the model 3 performance they were so fresh.
No doubt you have to do what makes sense financially car transactions are always costly with fees, taxes, and depreciation to consider. I am sure there will be lots of good options available in 4 years the EV market is evolving rapidly.
comanchepilot
Member
if you've only made 3 payments on the ID4 you're stuck in it unless you have a few grand to put into the car - unless the vehicle is in demand in your part of the country and you can find a sucker who wants one real bad - but then you still have to get out from under it -
You did not say if you bought it or leased it. If you leased it read the terms carefully - they've screwed them down really tight the last few years in that it is hard to pay it off and make any money on it even if you could end it early - the leasing co [even VW finance] gets an investment tax credit for the car and they lose that if its not kept 24 months - so they'll hit you up for that lost benefit if you terminate now. If you bought it - make sure you can pay it off early.
In 99% of circumstances this soon into a purchase you'll lose a fortune closing it out.
You did not say if you bought it or leased it. If you leased it read the terms carefully - they've screwed them down really tight the last few years in that it is hard to pay it off and make any money on it even if you could end it early - the leasing co [even VW finance] gets an investment tax credit for the car and they lose that if its not kept 24 months - so they'll hit you up for that lost benefit if you terminate now. If you bought it - make sure you can pay it off early.
In 99% of circumstances this soon into a purchase you'll lose a fortune closing it out.
This is a pretty expensive case of buyer's remorse. It's pretty hard to advocate from a financial standpoint getting rid of the ID4. I've had my loaded long range AWD (acceleration boost software, full self driving, premium connectivity) since June 2019 and I've been mostly happy with it (FSD being a sore point just like for others). I even got 31k miles out of the original tires.
You'll be lucky if you get 15k in 4 years just to set your expectations. I drove the ID.4 I get where you are coming from, it is one of the most boring EVs I've driven. Mostly because it is pretty much gutless and is actually slower than the new Prius Prime unless you went with the AWD. To be fair, the Prius is quicker than it used to be but still pretty slow in the EV world.
I think that is where VW really blew it. From the company that had the balls to put fahrvergnügen in the US lexicon, they really blew it. Hard to believe the people that made the original Rabbit GTI could create such a soulless and boring EV as one of their first. They still haven't figured out how to do the infotainment yet either. All my comments are coming from someone who loved VWs and their relatives (Porsche, Audi).
I'd say watch the market and track your payoff value. When it hits break even or slightly positive equity, bail on it. If you enjoy driving dynamics, buy the 3 over the Y. Don't buy the Y unless you REALLY need the extra room and will use it all the time. The 3 is so much more fun to drive it is remarkable. Maybe by the time you have positive equity, there could very well be better options than the 3. I truly hope so as much as I love my 3 and S, I think Tesla is going the wrong way. Removing the park sensor was a total cluster. Removing radar and going to TeslaVision screwed so many of us and the list goes on. All the games with pricing have really ticked me off as well.
So I'll either drive my 3 and S until somebody makes something better, they die and I have no choice, or Tesla finally gets their act together and at some point, there is an actual reason to upgrade. At this point I think the 3/Y peaked in 2022 and the S/X in late 2022 or 2023 (before they removed the parking sensors.
I think that is where VW really blew it. From the company that had the balls to put fahrvergnügen in the US lexicon, they really blew it. Hard to believe the people that made the original Rabbit GTI could create such a soulless and boring EV as one of their first. They still haven't figured out how to do the infotainment yet either. All my comments are coming from someone who loved VWs and their relatives (Porsche, Audi).
I'd say watch the market and track your payoff value. When it hits break even or slightly positive equity, bail on it. If you enjoy driving dynamics, buy the 3 over the Y. Don't buy the Y unless you REALLY need the extra room and will use it all the time. The 3 is so much more fun to drive it is remarkable. Maybe by the time you have positive equity, there could very well be better options than the 3. I truly hope so as much as I love my 3 and S, I think Tesla is going the wrong way. Removing the park sensor was a total cluster. Removing radar and going to TeslaVision screwed so many of us and the list goes on. All the games with pricing have really ticked me off as well.
So I'll either drive my 3 and S until somebody makes something better, they die and I have no choice, or Tesla finally gets their act together and at some point, there is an actual reason to upgrade. At this point I think the 3/Y peaked in 2022 and the S/X in late 2022 or 2023 (before they removed the parking sensors.
Just my 2 cents worth, I think golfcart is on to a possible solution for you. Sell the ID.4 privately now. Volkswagen has suspended taking orders and you can't even get on a waiting list for orders. If you were to sell, you will get a higher price now than at anytime in the future, and that's not even taking depreciation into account. At this moment the law of supply and demand is in your favor. But I also realize some people aren't comfortable selling a car on their own. Put some feelers out, look through various car selling websites, get the Kelly Blue Book value, That may give you some general idea what you car is worth. Even the dealer that sold you the car might give you a good deal, you never know. And you'll still get half of the $7500 tax credit, that is something worth thinking about.
Just a thought.
Just a thought.
My understanding is that the model 3 performance, priced at $52,990 still gets the full $7500 while the standard range only gets $3750. This brings the net cost of the P3D to $47,130 + tax if you get the full credits and include the destination and order fees.
It’s not a cheap car but it’s a hell of a value considering the level of performance you get and how cheap it is to operate in my opinion.
MSRP on an ID.4 AWD Pro is $47,795 for comparison and that doesn’t include any fees. That’s why I suggested just selling the ID.4 private party and getting the P3D like you said… given the fact that it’s not available right now the OP may not lose much at all on the deal.
M3P did not get reduced with the latest price drop, still at $52,990, but of course we don't know what will happen next. For example, I got my M3LR last year at $50,990, just $2K below the current M3P price and there was no EV tax credit at that time. Wondering what the M3LR price will be once it becomes available again.
Did you lease or buy and finance the vehicle?
If the latter, you can sell it at any time, though the price may, or may not, be to your liking.
I'm not sure why you keep asking the same question that has already been raised and answered.
Maybe, you should ask your parents?
HTH,
a
Hi, i purchased the car back on 11/22. If i financed how can i get out of the current loan i am under for the ID4? Any way to see it?
Just wondering still my options.
The same way you do it with any other car. Either sell it, or trade it in and be prepared for the loss in money that comes with that. You can sell it to whomever.
You can trade it in to tesla and try to bury any negative equity in the new car. If you are asking if you have an option to get out of the car without losing a bunch of money, the answer is "No".
As others said just sell. If you have a decent down payment, you might get out fine. If you owe more money on it than owed (aka negative equity or upside down) then either pay it off or roll that into the new loan (which is a terrible idea on a depreciating asset, or in almost any situation).
Regen alone (completely missing on US spec limited offering of IDs) is reason alone to consider a 3, in any trim. Even the most basic RWD model will be decent and might be ideal for your use, with a Performance car being far more than can safely be used on public roads across North America.
Lots of threads on and off here about superiority/inferiority of P vs non-P AWD dual motor vs RWD single-motor 3s/Ys.
A personal choice with pros and cons regardles of which you choose.
Lots of threads on and off here about superiority/inferiority of P vs non-P AWD dual motor vs RWD single-motor 3s/Ys.
A personal choice with pros and cons regardles of which you choose.
You can Google questions like this and get pretty good/accurate answers in a matter of seconds
I mean, I get what you are saying (and based on your purchasing history here etc I know you know this) but for anyone else reading along, what @DayTrippin is likely meaning by this quote above is "if you have a decent down payment you might get out without losing any MORE money, fine".
The down payment is still money, just people tend to hand wave it away because they already spent it. If you put down 20k on a car, then go to sell it a year later and "break even" on whats left on the loan vs what you sell it for, thats not breaking even really, its losing that 20k (minus whatever you value the usage of the car over that period of time at).
Like I said, I am sure you know this, just based on what I have seen you post here before, but for people following along it might matter.
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