Will you go to the Telsa store tomorrow after the price drop

[lowtek]

Dude, there is a clear difference here. In one case, Tesla continues to make a higher profit margin. In the other case, this basically becomes a game of a chicken for those who bought the car at the price they assumed would be relatively maintained for a while. If it went up, great, only if I wanted to sell it. BUT, since it’s basically dropped values 20k overnight, it puts us in a huge liability box. If we get into a crash that totals out our vehicles, we’re screwed, like hardcore. It makes driving the car a miserable experience, cause even with full coverage, my car is now not even fully protected and I’ll be completely underwater on an insurance payout. MSRP goes up, sales figures goes up. MSRP dumps in a single day, everyone gets burned. This is not about being a Karen, it’s about basically forcing us to drive our vehicle less in fear of any accident totally the vehicle out and forcing us to be 20k short on any loans or personal investment made into a long term purchase. After speaking with my insurance company, I can’t even get GAP since my downpayment was such a large portion. So if I get a totaled car, pretty much I will be left with roughly 25k to find a new vehicle. Burning me over $45k on a vehicle I bought 4 months ago.

Your pain is real!

Any new car purchase is a bad financial decision, period, there's no math that works here. Best purchase is a lightly used car still under warranty.

And then ONLY if you drive it into the ground.

You bought what you want, enjoy it!

 

[WhiteOnWhiteMY]

Your pain is real! Any new car purchase is a bad financial decision, period, there's no math that works here. Best purchase is a lightly used car still under warranty. You want what you want, enjoy it.

Hard to enjoy it, I figured a roughly 40% decrease in value over 5 years, getting hit 31% decrease in value in 4 months puts me in massive liability loss that makes wanting to drive this thing feel like a ticking time bomb. In 24 hours I went from being excited to drive this car to absolutely dreading the notion of it. Likely canceling my trip to Tahoe later today because of the liability of driving this car in the snow. Every accident I am in serious trouble of being shorted 20k. All because Tesla swindled people by having high pressure sales team give you 2 days to make a massive financial decision. Seems dirty and disrespectful to those who just committed 3-6 years of loans to a bank for a car they aren’t even sure they wanted to keep that long.

 

[lowtek]

Hard to enjoy it, I figured a roughly 40% decrease in value over 5 years, getting hit 31% decrease in value in 4 months puts me in massive liability loss that makes wanting to drive this thing feel like a ticking time bomb. In 24 hours I went from being excited to drive this car to absolutely dreading the notion of it. Likely canceling my trip to Tahoe later today because of the liability of driving this car in the snow. Every accident I am in serious trouble of being shorted 20k. All because Tesla swindled people by having high pressure sales team give you 2 days to make a massive financial decision. Seems dirty and disrespectful to those who just committed 3-6 years of loans to a bank for a car they aren’t even sure they wanted to keep that long.

Probably worse ... the used car market is correcting as we speak ... I feel your pain but not Tesla's fault, just bad timing. Not everything that happens is somebody's fault, sometimes *sugar* just happens, take the good with the good, push through the bad.

 

[Yelobird]

I hope people do, if it gets Tesla to provide some sort of rebate then it would help everyone who bought recently.

Love how you say Recently. Meaning so it applies for You the entitled. Lol. Find me an auto maker with a Forever coupon.

 

[CMVL]

Dude, there is a clear difference here. In one case, Tesla continues to make a higher profit margin. In the other case, this basically becomes a game of a chicken for those who bought the car at the price they assumed would be relatively maintained for a while. If it went up, great, only if I wanted to sell it. BUT, since it’s basically dropped values 20k overnight, it puts us in a huge liability box. If we get into a crash that totals out our vehicles, we’re screwed, like hardcore. It makes driving the car a miserable experience, cause even with full coverage, my car is now not even fully protected and I’ll be completely underwater on an insurance payout. MSRP goes up, sales figures goes up. MSRP dumps in a single day, everyone gets burned. This is not about being a Karen, it’s about basically forcing us to drive our vehicle less in fear of any accident totally the vehicle out and forcing us to be 20k short on any loans or personal investment made into a long term purchase. After speaking with my insurance company, I can’t even get GAP since my downpayment was such a large portion. So if I get a totaled car, pretty much I will be left with roughly 25k to find a new vehicle. Burning me over $45k on a vehicle I bought 4 months ago.

Some big reactions in the forum today. Look at what you're saying and rationalise it.

You have a good car.

There will be money if you crash the car.

Yes it sucks, no there isn't much you can do about it. Just enjoy the car and don't look over your shoulder.

 

[Yelobird]

Hard to enjoy it, I figured a roughly 40% decrease in value over 5 years, getting hit 31% decrease in value in 4 months puts me in massive liability loss that makes wanting to drive this thing feel like a ticking time bomb. In 24 hours I went from being excited to drive this car to absolutely dreading the notion of it. Likely canceling my trip to Tahoe later today because of the liability of driving this car in the snow. Every accident I am in serious trouble of being shorted 20k. All because Tesla swindled people by having high pressure sales team give you 2 days to make a massive financial decision. Seems dirty and disrespectful to those who just committed 3-6 years of loans to a bank for a car they aren’t even sure they wanted to keep that long.

Lol. Over react much? Maybe they did you a favor. Learn to drive better “every accident I’m in” lol

 

[WhiteOnWhiteMY]

Lol. Over react much? Maybe they did you a favor. Learn to drive better “every accident I’m in” lol

I have no recourses here. I’ve had 0 accidents in my life. This isn’t a case of drive better. If someone else wrecks my car and totals it, I still bare this 20k loss on value. I’m not talking a few thousand. I’m talking 20k. I paid nearly outright for this car. 54k down, the rest financed. So any payout will be roughly 42kish. 14k of that today will immediately go towards paying off the loan amount. Leaving me with 28k for a car I bought 2 months ago for 66k. So tell me, even if I’m minding my own damn business on the road, and someone else who isn’t paying attention totals my car, where is my recourse. Just eat the loss and buy something for 28k? Surely won’t be a Tesla, seeing as they put all of us in this box.

 

[Yelobird]

I have no recourses here. I’ve had 0 accidents in my life. This isn’t a case of drive better. If someone else wrecks my car and totals it, I still bare this 20k loss on value. I’m not talking a few thousand. I’m talking 20k. I paid nearly outright for this car. 54k down, the rest financed. So any payout will be roughly 42kish. 14k of that today will immediately go towards paying off the loan amount. Leaving me with 28k for a car I bought 2 months ago for 66k. So tell me, even if I’m minding my own damn business on the road, and someone else who isn’t paying attention totals my car, where is my recourse. Just eat the loss and buy something for 28k? Surely won’t be a Tesla, seeing as they put all of us in this box.

Sorry your numbers and complaint are all over the place. 66k - 54k is not 14k. You didn’t buy your car 2 months ago you bout it 5 months ago. Cars are Meant to depreciate, they are Not investment commodities. As you Loved your car last year based on your posts, enjoy your car today till you sell and enjoy whatever you buy in the future. (FYI, that car will depreciate also….)

 

[WhiteOnWhiteMY]

Sorry your numbers and complaint are all over the place. 66k - 54k is not 14k. You didn’t buy your car 2 months ago you bout it 5 months ago. Cars are Meant to depreciate, they are Not investment commodities. As you Loved your car last year based on your posts, enjoy your car today till you sell and enjoy whatever you buy in the future. (FYI, that car will depreciate also….)

Whatever my numbers are, I’m still out that 20k. Sure I have a working car now, but you should be a little more considerate of the fact that it’s hard to drive a car that in a moments notice I may be forced to sell the vehicle because someone was texting a driving or being an idiot and wrecks me. 5 months to lose 30%+ of value on my car is insane. I loved the car, now I fear anything happening to it. Base price was 66k, financed for 69k with tax. Now worth significantly less. Hard to enjoy a car that will leave me 20k underwater if anything happens to it. Regular car devaluation will now be added to new MSRP rates. So everything is 13k less than what it was yesterday morning. Realistically 20.5k less with IRA. I used to drive it and didn’t have a care in the world driving it cause I knew I have full coverage and if anything happened to it, I might be down 3-4K, an expected loss. Now I’m down much much more. I expect to see several recent owners either go with GAP or just have cars repossessed, as it’s a massive liability.

 

[lowtek]

Whatever my numbers are, I’m still out that 20k. Sure I have a working car now, but you should be a little more considerate of the fact that it’s hard to drive a car that in a moments notice I may be forced to sell the vehicle because someone was texting a driving or being an idiot and wrecks me. 5 months to lose 30%+ of value on my car is insane. I loved the car, now I fear anything happening to it. Base price was 66k, financed for 69k with tax. Now worth significantly less. Hard to enjoy a car that will leave me 20k underwater if anything happens to it. Regular car devaluation will now be added to new MSRP rates. So everything is 13k less than what it was yesterday morning. Realistically 20.5k less with IRA. I used to drive it and didn’t have a care in the world driving it cause I knew I have full coverage and if anything happened to it, I might be down 3-4K, an expected loss. Now I’m down much much more. I expect to see several recent owners either go with GAP or just have cars repossessed, as it’s a massive liability.

Turn that brain off, you bought a new car, an expensive new car, a cool and fun new car ... you knew it would depreciate immediately ... you knew the used car market has to adjust back to normal levels at some point ... assuming you can afford the purchase ... if not, next time buy a $15K used car and sleep better at night.

Is Tesla supposed to keep their prices high and not adjust to the winds of the market just for those who purchased high?

 

[ucmndd]

Dude, there is a clear difference here. In one case, Tesla continues to make a higher profit margin. In the other case, this basically becomes a game of a chicken for those who bought the car at the price they assumed would be relatively maintained for a while.

You know what they say about assumptions. The market signals were pretty clear - it’s a terrible time to buy a new car. IMO it still is but that’s another discussion.

Tesla doesn’t just get to decide in a vacuum what their profit margin is and what they sell their cars for. Their job is to sell cars. They charge what the market will bear. The market will no longer bear the idea of a $66k Model Y.

 

[sunwarriors]

Your pain is real!

Any new car purchase is a bad financial decision, period, there's no math that works here. Best purchase is a lightly used car still under warranty.

And then ONLY if you drive it into the ground.

You bought what you want, enjoy it!

Used cars were more than new cars for a while in 2022. In past car purchases, used cars were also not the cheapest if you wanted certified pre-owned, etc...(at least I didn't see it).

I think right now, used Tesla's are still more expensive until the new supply runs out or used dealers clear them out. They're pretty much royally %@*ed for now if they bought them for much higher.

That said, I'm pretty sympathetic to all the people who bought recently, but Tesla is not going to do a thing. Similar to folks who flipped cars or what not, Tesla is not going to do anything and even though I agree with some of the more mean comments, it's a pretty harsh upsetting reality.

Best advice is just know what you're buying and whether it's really "worth" it. Monitor China prices since they can always just ship those to the US where they still make a profit there and lease possibly to still offer credits. There is a floor, but we won't know till they report how much it takes to actually make these cars.

 

[lowtek]

Tesla doesn’t just get to decide in a vacuum what their profit margin is and what they sell their cars for. Their job is to sell cars. They charge what the market will bear. The market will no longer bear the idea of a $66k Model Y.

... and the prices will go back up ... eventually

 

[ucmndd]

Hard to enjoy a car that will leave me 20k underwater if anything happens to it.

The problem here is perspective: the $20k is already gone. Poof. It doesn’t matter what happens from this point on. Kiss it goodbye.

Good news is you pretty much can’t be “underwater” because that means you owe more to the bank than the car is worth. Your significant down payment eliminates that risk. GAP exists for those less responsible people that heavily leveraged their depreciating assets and did something truly foolish like 100% financing their new car.

 

[ucmndd]

Monitor China prices since they can always just ship those to the US where they still make a profit there and lease possibly to still offer credits.

There is a ~25% import tariff on Chinese vehicles. Because of that you’re not gonna see them here any time soon.

 

[sunwarriors]

There is a ~25% import tariff on Chinese vehicles. Because of that you’re not gonna see them here any time soon.

So it's China prices + 25%. That's still good to know. Laws can also change and our government is what they are (or if loopholes show up).

 

[ucmndd]

So it's China prices + 25%. That's still good to know. Laws can also change and our government is what they are (or if loopholes show up).

UAW will burn this motherf!cker to the ground before they let anyone in government take away their protection.

 

[tonyz1]

Learn to learn! No class action lawyer worth his salt going to touch that ... anyone else is just scamming you for their fee.

Says the guy with a degree as an online warrior. If all you can do is pick at semantics to defend Chevy 2.0, I feel for you.

 

[tonyz1]

The problem here is perspective: the $20k is already gone. Poof. It doesn’t matter what happens from this point on. Kiss it goodbye.

Good news is you pretty much can’t be “underwater” because that means you owe more to the bank than the car is worth. Your significant down payment eliminates that risk. GAP exists for those less responsible people that heavily leveraged their depreciating assets and did something truly foolish like 100% financing their new car.

Sadly he’s right. Best thing to do it a not give Tesla anymore money.

 

[WyoDude]

I learn that some of the Owners in China got Free FSD and extended warranties. will you think we could get some supercharge miles or FSD?

Where did you learn this? Sounds fake