Tanked Model 3 values?

[Blueskye]

So I was planning on selling or trading in my white 2020 SR+ model 3 (all standard) for LR MY.

For some reason trade in quotes have disappeared from the UK site?

Tried WBAC, Motorway and Cazoo and some of the prices are ridiculous?


WBAC and Cazoo are offerring £24,500-£25,000 and Motorway £30,000.

The car has 17,500miles and it’s literally brand new as I baby it. It only has dents on alloys, but will repair with insurance.

Have I missed something about re-sell values or am I stuffed?

 

[Mr H]

it will be because you're approaching the 3 year mark, first MOT etc and is usually where most car warranties expire, i know Tesla is 4 years but they all seem to get lumped together

 

[Blueskye]

it will be because you're approaching the 3 year mark, first MOT etc and is usually where most car warranties expire, i know Tesla is 4 years but they all seem to get lumped together

Thanks. Definitely NOT what I wanted to hear .

 

[Mr H]

You may be better off with a private sale

 

[Rooster6655]

So I was planning on selling or trading in my white 2020 SR+ model 3 (all standard) for LR MY.

For some reason trade in quotes have disappeared from the UK site?

Tried WBAC, Motorway and Cazoo and some of the prices are ridiculous?


WBAC and Cazoo are offerring £24,500-£25,000 and Motorway £30,000.

The car has 17,500miles and it’s literally brand new as I baby it. It only has dents on alloys, but will repair with insurance.

Have I missed something about re-sell values or am I stuffed?

What did you originally pay?

I expected a 20-25% depreciation in normal times over 3 years

 

[Blueskye]

What did you originally pay?

I expected a 20-25% depreciation in normal times

£40,000.
To be fair I would be very happy with around £32,000 to £33,000. I felt it was reasonable given the actual condition.
There’s zero scratches or chips.
Even the piano black console is in excellent condition as I’ve covered it since day 1 after it was replaced.

I have white seat covers so the seats are immaculate too.

I put a rolls Royce type “leather” cover on the floor carpet so that’s brand new too.

But I’m schooled


But I’m shocked at prices at the £24K mark. My finance is around £30K mark (+/- £500) so anything below is not doable..

 

[SR-Plus]

There’s another thread about “plummeting” values. I’d advise having a read of that.

You could fetch £30k+ selling privately as I can’t see any sub £30k cars on Autotrader with you mileage and age. But I don’t think anyone is buying at the moment.

 

[Blueskye]

There’s another thread about “plummeting” values. I’d advise having a read of that.

You could fetch £30k+ selling privately as I can’t see any sub £30k cars on Autotrader with you mileage and age. But I don’t think anyone is buying at the moment.

I wouldn’t mind selling privately but I’m a bit concerned of scams as I wouldn’t be the wiser to spot them…
Any chance you can link it?
I tried to search but found US/Australian posts so not relevant..

 

[Jason71]

Cheapest 2020 M3 SR on autotrader under 20k miles is 33.5k.stick yours on for 30k and it will probably sell in days

 

[Jason71]

I wouldn’t mind selling privately but I’m a bit concerned of scams as I wouldn’t be the wiser to spot them…
Any chance you can link it?
I tried to search but found US/Australian posts so not relevant..

With instant bank transfer its easier than it used to be with cash or bankers cheque. When You agree a sale buyer transfers funds you check money has landed via online banking app. Buyer drives away. Simples.

 

[Blueskye]

With instant bank transfer its easier than it used to be with cash or bankers cheque. When You agree a sale buyer transfers funds you check money has landed via online banking app. Buyer drives away. Simples.

Can I do this if I have HP finance on it?
I’d be happy to pay it off while the buyer is standing there before he/she drives off..

 

[Rooster6655]

£40,000.
To be fair I would be very happy with around £32,000 to £33,000. I felt it was reasonable given the actual condition.
There’s zero scratches or chips.
Even the piano black console is in excellent condition as I’ve covered it since day 1 after it was replaced.

I have white seat covers so the seats are immaculate too.

I put a rolls Royce type “leather” cover on the floor carpet so that’s brand new too.

But I’m schooled


But I’m shocked at prices at the £24K mark. My finance is around £30K mark (+/- £500) so anything below is not doable..

Definitely wouldn't be selling for under £30k, if one was for sale at the 25k in warranty I would think of buying it as a second car!

 

[Jason71]

Can I do this if I have HP finance on it?
I’d be happy to pay it off while the buyer is standing there before he/she drives off..

Hmm. No experience of that im afraid. That does make it harder. Difficult to get someone to send you 30k for a car you don't actually own

 

[Mr H]

Can I do this if I have HP finance on it?
I’d be happy to pay it off while the buyer is standing there before he/she drives off..

get the settlement paperwork from the finance company and the new buyer can send the figure from their bank direct and send you the difference, it will probably be bought by a dealer that would do it like this

 

[Jason71]

get the settlement paperwork from the finance company and the new buyer can send the figure from their bank direct and send you the difference, it will probably be bought by a dealer that would do it like this

Presumably the finance company has the V5. That also adds complexity if its a private sale

 

[Blueskye]

Hmm. No experience of that im afraid. That does make it harder. Difficult to get someone to send you 30k for a car you don't actually own

When you put it like that lol.
I was happy to pay it off in front of them..

 

[Blueskye]

Presumably the finance company has the V5. That also adds complexity if its a private sale

No, why would they?
I have it.

 

[Blueskye]

get the settlement paperwork from the finance company and the new buyer can send the figure from their bank direct and send you the difference, it will probably be bought by a dealer that would do it like this

That was an option I thought of also. Good thinking Mr H!

 

[James-R10]

Tesla trade in was about 30% higher than alternatives for me

 

[Durzel]

At the risk of stating the obvious trade offers are going to be less than private, substantially so depending on market dynamics, because of the spread they're looking to make across the car.

I'd suggest selling an immaculate car to the trade is broadly a waste of time because there is no premium for it being immaculate. The trade expect "good" cars and price in a fixed amount of rectification work in the offer. That you baby the car is just a incidental benefit to both the trade (less prep work needed) and eventual next owner.

On the other hand selling a £30k+ car privately fills me with dread, even if I have been on the other side before with no issues.

Model 3 prices have dropped precipitously in recent months because a) 2019 leases are ending en masse and b) the trade in prices we were seeing eariler in the year were completely artificial, used cars with trade in offers for as much as if not more than new, etc. It just seems like a big crash because the factors that led to that unique situation have eased off.