P100D Value Loss 70k in 1 year.

[Stirthepot]

who offered you 70K for the trade? tesla or another dealer?

 

[Ludalicious]

Join the party. I am in the same ballpark. 100k CDN ontop of luxury taxes ect. At least 130k lost in value on mine in only 2 years. Absolute joke. Was going to put a deposit down on a new roadster but not after the hit I took on my P100D. The new Raven isnt worth the upgrade either... 2/10s fasyer in the 1/4 and same old design and interior. No thanks

I still love my car though. Just have to keep it longer to justify the hit.

 

[VT_EE]

Tesla depreciation is the worst in the industry. I’m not sure how people come up with metrics stating otherwise.

Not according to my diminished value appraiser, at least for the cheaper models.

 

[Xenoilphobe]

This.

You have to go back 100 years or more to find the last time the auto industry was this dynamic.

Unusual for automotive market - significant technology improvements roll out at faster-than-annual pace.

Also unusual for automotive market - major advance along the learning curve every year for lower cost/prices. The technology is new and volume relatively low but climbing.

Several ways to cope.

A. Lease - let someone else worry about depreciation. This seems best fit for you with stated preference to be at leading edge of the rapidly advancing wave.

B. Buy and hold. Our 2017 S100D MCU1, AP2.0 is not as capable as yours, but still fabulous. I bought FSD so AP will be upgraded, bringing me closer to the leading edge. Might engage Electric Garage for MCU upgrade.

Plan to sell the S to our daughter’s family in a few years when the gap between the car’s dropping market value and their rising disposable income narrows.

C. Chalk up depreciation hit as “Entertainment.”

My career has advanced because I can spot and act on disruption and opportunity flowing from new technology. EVs, Tesla and Rivian in particular, make this an exciting time to own and drive a car.

@NickFie

Gets it, I too plan to sell my P85+ to my son once he starts making his own money, It a great car, been solid as a tank and frankly I'm not giving up such a great product for someone to profiteer off it and he begs to drive it everyday over every other car we own.

 

[Xenoilphobe]

Appreciate the report! Very Interesting. Thanks.

However Don't think this is taking P100D, its top model, into consideration. Mine has already lost 52% even with the $7500 tax credit, if you go by trade in value vs retail. Tesla mostly sell the lower models. Same thing on the Mercedes. The lower models held their value and the high end AMG don't hold value at all.

No car should cost anyone 70k for 1 year or $5800 per month. Should it? Guess I should of leased....Lol. I could of leased a Lambo for $4,000 per month and saved money! oops.

Yeah but a Lambo is another car that Teslas see in their rear view mirror a lot.

 

[nativewolf]

I bought a P100D a year ago for a sticker of 144k, now the trade in is 70k ?? I have had a ton of cars over the years and this is by far the worst loss then any car I have ever owned. The main reason, I think, is Tesla lowered its price for the P100D to 109k. I feel this shows clearly that they care nothing for any of the customers who bought the Top of line model. No other car dealer would do this to the value of their top model car. Wow, I am still in shock, I understand a trade in value is usually 10k lower than a retail price. But even 60k in loss in 1 year, makes no sense, on any car. Somebody please shed some light on this situation...

Well you are putting out some questionable statement on trade in value so yes, lets see the dealer offer for the trade in value, I don't believe it.

 

[Xenoilphobe]

here are the recent sales
tesla s p100d | eBay

 

[Ludalicious]

Yeah but a Lambo is another car that Teslas see in their rear view mirror a lot.

pffff... until you reach 150kms.... Then bye bye Tesla.... have seen a few tail lights on the top end

 

[Xenoilphobe]

pffff... until you reach 150kms.... Then bye bye Tesla.... have seen a few tail lights on the top end

I lost my license twice, no more triple digits for me. 0-80 MPH is good enough... hell even the 3 kills some Lambos for lunch at that speed.

 

[dirkbike1]

What's not believable? The highest price I can build one for today is 114,990.

I bought my P100D used from the original owner who bought it at a discounted price. It is still the worst depreciation I have ever experienced. No report or article is going to change that.

On the other hand, I absolutely love the car and figure the only way I'm going to get my monies worth is to drive the hell out of it!

 

[Ludalicious]

Bottom line is.... No one care's about someone loosing 70K US in a year on a vehicle that's usually purchased by the 1%... It had to be said.

 

[Litigate28]

In all seriousness if you are looking to sell and you have white seats send me a message. I’ll help you mitigate that depreciation hit.

 

[glide]

Not according to my diminished value appraiser, at least for the cheaper models.

When calculating depreciation for a make, do other manufacturers get to throw out figures from their flagship products and use only the vehicles in the fleet that suit the narrative? I think not.

 

[glide]

Bottom line is.... No one care's about someone loosing 70K US in a year on a vehicle that's usually purchased by the 1%... It had to be said.

We’ll see what happens in 2 more years when Model 3 owners have to eat their crow too.

 

[drtimhill]

Tesla depreciation is the worst in the industry. I’m not sure how people come up with metrics stating otherwise.

That may be true, but shouldn't you quote metrics supporting that?

 

[dirkbike1]

The metrics can be seen in the initial post

 

[I-Fleming]

Your hysterical Xeno. Thanks for the offer. Lol.

 

[P100D_Me]

I bought a P100D a year ago for a sticker of 144k, now the trade in is 70k ?? I have had a ton of cars over the years and this is by far the worst loss then any car I have ever owned.

It wasn't the car or the market, it was Tesla itself that caused this.

Until Feb this year they had been depreciating no worse than any other luxury car, then in Feb the grand poobah had an idea to slash the prices by ridiculous levels and everyone took a massive hit on resale. Now before all the Americans jump on that statement they need to understand what happened outside of the US, it was a price massacre with some countries having prices dropped by 50% overnight, 50!!

Imagine paying $200K for a car in January and finding out overnight through no fault of your own or any market influence it is now worth $100K. I agree that they were obviously overpriced to begin with but there was zero consideration to new owners by Tesla on that decision.

 

[Xenoilphobe]

We’ll see what happens in 2 more years when Model 3 owners have to eat their crow too.

As soon as the Y starts delivering, you are going to see a lot of temper tantrums from the Model 3 owners. But, but, but, my car is only 12 months old and only has 15K on it, why is my precious $70K P3D only worth $34K for trade in? MOMMYYYY Elon is Doctor Evil!!!!

It's hard knock life..

 

[tinm]

Tesla does not buy back any software value. And places like CarMax don't know how to value software packages either.

So if you had FSD, that's out the window on trade. So there goes another $8K.

A big reason I would never buy FSD. Eventually it’ll be included in the base price like AutoPilot is now.