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Exactly only with Tesla do people have this disillusion and unrealistic expectation that depreciation does not exist on a vehicle which is a depreciating asset.
In the UK this has massively impacted the depreciation of all EVs. Porsche is even giving a £5K discount off new Taycans….. and Porsche never gives discounts!! The EV market is really starting to struggle in Europe now.
As you said, this applies to any purchase. We bought a Sierra in 2014 at what we thought was a reasonable price. The next day the dealership had a black Fiday sale! Wish they had told us to wait 1 day. We have a tesla model 3 since the summer. Wonderful car. We're so glad we bought it.
I've waited for an ev for 2 years because I refused to pay more for the same car. With the price drop, I finally pull the trigger. People should stop complaining and shop smarter
I got our Model Y years ago, but I helped my uncle get theirs in the last few days of December. I understand why Tesla did the price drop (the IRS calling the 5-seater a "Sedan" was messed up). But Tesla still left those late December buyers screwed over. These people excitedly purchased their new vehicle from Tesla and trusted that they would be happy with their purchase. That includes being happy with the financial aspect of the purchase, not just the physical product. But they quickly learned that if they would have waited 2 weeks, they could have saved 13 to 20 thousand dollars?! Tesla makes great products, but they don't always take care of their customers and too often resort to the "too bad, so sad" mentality. It doesn't build good faith with the company for the consumers. I have to agree with my uncle that this was another example of the company enforcing the doubt that many people still have with their customer service aspect. This will likely be their first and last Tesla ever and I can't blame them for that. The group of late December buyers is small enough that Tesla could easily give them free unlimited supercharging to make it right, and the company would be ok.
I agree. Tesla made it seem like this was the "best" deal in December and you had to get it. Sure, they have a right to do that but as customers, we have a right to feel irritated, taken advantage of, and never buy a Tesla again.
It sucks for anyone who bought right before the price drop, but honestly, no one cares and they should NOT get any form of compensation in free charging or anything because the millions of ppl who bought right AFTER constant price increases over the past few years were not given any sympathy compensation. It’s common sense. You & Your family should be grateful they could even afford a new vehicle comfortably at the price they picked - many ppl got messed over the last few years with random increases
@@YungAnt7 People do care, that's why so many are complaining. That's also why so many are trying to stop them from complaining because that hurts the brand name. More complaints, the better!
@@caingalata4132 This! The higher ups in Tesla knew they were pushing people all while planning this big drop. It's the problem with public companies and capitalism... always taking advantage of someone.
My first expetience with Tesla .. and it isn’t a good one. I were hopefull and entusiastic before the price drop - now just angry. By the way - I despite all the bots, who will tell, that I should have know better, so ..😮
S3XY buttons are genius! The values for used mach-e's have plummeted as well seemingly overnight. I don't see how Ford will sell a mach-e GT for $10-15k more than a model y performance when it's slower, especially at higher speeds.
Bought my 2022 MYP in mid October for $83,400. It now has 5k miles in mint condition and was valued at $38,215 today 2.4.2023!!!!! Who was it that said Teslas hold their value?
I bought a 2023 Model Y for $56630. Now I can buy the same car around $28000. I think I have a right to feel pissed off. Anyone would be angry with 52% depressiation in one year
Andy, I still have the same car that I paid $58,000 for a year and a half ago. I pay almost nothing for Electricity for it. It runs great. I can still give whip lashes to my friends. I haven’t had any problems with my Y and I have no regrets. I hope the price drops even more so more of my family and friends can enjoy the feelings that I do. If I could turn back the clock then I would not hesitate doing the same thing at the same time. ❤
I still have my 2004 Acura TL. It looks and drives great. 147K miles and going strong. My registration and insurance together are $600 per year. It is paid off. If I bought avTesla it would cost me $2900 a year in insurance and registration. It takes a lot of miles to make up that difference not to mention the huge car payment. My advice to all you friends is to keep their current car running unless they are driving 50K miles as an Uber driver. You cannot easily make up over $10k a year in gas savings
@@gordonschiff3621 You drive low miles per year so EV is not going to save you much. I think comparison would have to come from an equivalent priced ICE vehicle over savings from gas & maintenance. I had high maintenance cost on my ex-BMW past warranty.
@@gordonschiff3621 If your registration and insurance on a Tesla Model 3 is $2,900 a year, you are living in the wrong place. Mine is about half that, including the EV road-gas-tax surcharge.
i drive 2014 honda accord.. completely paid off 3 years back at 0.9% interest..running it free of costs with combined gas + maintainence charges + insurance $2000 per year.. thats the cost i would pay in two months if i buy tesla and for the next 5 years..😂
We bought our 2021 Model Y in July of 2021. At the time, there was talk of the $7500 rebate and that it might be retroactive. There was no guarantee and, as it turned out, we did not get the tax credit. However, we asked ourselves at the time, “regardless of the possibility of the tax credit, would we buy the Model Y anyways?” We decided the car was a worthwhile purchase, tax credit or not. So when the tax credit was passed, we didn’t feel cheated and ,with the recent price reductions, are buying a second Model Y. Do your research and make informed, well thought out buying decisions.
A girl i know for many years ago bought a really cheap used car. Paid SEK 4.000 (around USD 400). Drove it for one year. The engine started to leak oil. The workshop said the engine needed big overhaul or replacement, and for that money it was worth... no, not something you do. But the workshop offered to buy the car from her. She got... SEK 5.000 (USD 500)! So a working car, drive one year, and now a broken car = increased value. That was Amazing. She just "Deal!" and sold it immediately.
Fellow old model 3 owner. The main thing keeping me from upgrading to a model Y is that they don't let you transfer the FSD. It's kind of ridiculous that they now offer FSD for $200 per month or $15k non transferable. I think anyone paying $15k or like us who bought it before the subscription should be able to transfer it to a new car that we own. Literally costs tesla nothing and would bring a huge influx of buyers upgrading since no way we would trade in and then buy FSD again which would be a huge loss, like you said a value of $4k for your car basically
I guess I am suffering a little. I bought my model 3 performance last year. I took delivery in early June. It is what it is. It would be a cool gesture to offer free software upgrade like enhanced auto pilot, but I enjoy the hell out of the car and I'm glad to have it.
You get less value for your car on the second hand market but also you need to pay less for your next vehicle (for a a Tesla at least). It's not a wash but not the drama this video makes it out to be.
I got my SR+ in March 2021. It turns out it was pretty good timing as far as price goes. $37.5K for the car, and I opted to get red, so another $2k for that. The average price for a new car at that time was $40,000 in the US. I’ve driven 26,000+ miles thus far. I am so pleased with the car that I definitely feel I made an excellent purchase. It’s cheap to operate, fun to drive, and easy to live with. In 50+ years of driving and owning all types of vehicles, I can honestly say I’ve never had a better car, by any measure.
Someone I know bought his 3 a couple years ago and says it's the best car and who would need anything more,,, he just loves it. The funny thing is he is a multi-millionaire worth over 10 large... but he knows how to live below his means. In fact every person I know that owns one is thrilled with it.
I just checked the price of a new 2023 Model 3 configured as is mine and it is priced at $67,490. I paid $61,500 for mine. I remain very happy, even with the price reductions. Actually the new one has only the 30-day trial of Premium Connectivity, which I have for life, so the price difference -- in my favor -- is even better. Life is good, but it's better in a Tesla. (Edited to add this paragraph) I bought a flat-panel 51" Samsung television a few years ago for $1,100. Now a 65" version is priced at almost half of that. Price reduction indeed -- but I am still happy with my original purchase. No whining allowed.
I brought home my first ever Tesla at the end of November, and Tesla was pushing me to take delivery at the end of the month. Now while I do love the car and have no regrets, needless to say it's rather frustrating that Tesla not only announced a price cut in December, but now also in January. Two back-to-back price cuts right after delivery is infuriating to say the least. Like you said this literally happened overnight, and the fact that you can take delivery one day, only to lose the chance to take off thousands of dollars the very next day is absurd. If Tesla continues to adopt these practices then they need to offer some kind of grace period for recent buyers. If we saw such actions from legacy dealerships like Ford, Honda, Nissan, etc, then the amount of people lined up outside their doors ready to protest would be insurmountable.
Those legacy car dealers have special pricing often. If you didn't get there for their Special Sales Event "yesterday," well, you don't get that price "today." Labor Day Specials, End-of-Year Clearances ... no matter what you buy or where you buy it, you can get burned if you don't buy "at the right time." But the "right time" is always shifting.
@@donaldstinnett5630 I'm certainly not implying that other dealerships don't have sales, but unlike Tesla their sales are not only advertised to the public, but they don't happen literally overnight at the drop of a hat. By publicly announcing sales, it allows the public to plan accordingly, which is what Tesla should be doing.
Insurmountable really. I and the people I associate with cannot even .. at the moment .. think of buying a Tesla car. You talk about infuriation as if you were hard doñe by. OK let's trade places cry baby. Do I miss your point no do not think so. You stated your case clearly, enough. Did I state clearly enough....count your blessings... NOT LIKELY
I’ve been looking at Teslas for a good few months now as I can have a M3 as a company car, but I was looking to buy a MY for myself. There’s a lot of rumour about how much value Teslas lose, yet I’ve not seen any for sale in the UK at the prices that people say they’ve dropped to. Is it just scaremongering? I mean the MY long range is cheaper than the highest spec Nissan Ariya, and actually most other cars in the same class at the same price simp,y don’t have the features that teslas do. 🤷♂️
Well, whaddoyaknow? I sold my 2018 Model 3 in 2021 (because of a back injury, I could no longer get in the M3), trading it for a large SUV, and have felt terrible that I missed out on all the "appreciation" the car was supposed to have enjoyed between 2018 and 2022, but your KBB statistic on the current value of a M3 has made me feel much better of having traded out for a bigger, more comfortable car.
The 2018 3 is worth 25k minimum on the street. The 2022 Y LR is worth 45k on the street. Prices will go up until you can buy a New Tesla Today. When that happens the street values on Teslas will truly dip.
Why not just wait? Tesla will increase its prices which would increase resale value right? I don’t see Tesla cars having issues these next 3 months when they increase prices later. Buying a Tesla is saving you money on gas, oil changes, maintenances, and etc long run regardless
I'm trying to buy a 2 to 3 year old Model 3 and almost everyone that's offering them for sale is underwater on their loans. Or at least, they're worth much less than what most people are asking for them.
Bought my Model Y outright October 2020 for $55,321.60 and have put near 130k miles on it. SIMPLY NO REGRETS! Best car I have ever owned and I am considering a Model X to replace my Y until my Cybertruck comes in a couple years!
I was just about to say. My own brother purchased his in February last year and got delivery end of July. I told him to wait especially with the $7500 tax incentive rumors. He didn’t listen. I purchased mine December 22 and took delivery the 23rd and once I heard the full $7500 off incentive was going to be at point of sale as well as the 10k free supercharging miles (which I rely on since I don’t own a home) was all the more reason to “pull the trigger” and I don’t regret waiting one bit, sucks I didn’t get this new price reduction but I’m still super happy with my model 3
Who likes to be early adaptor? That is the risk. Wait till Hertz and the new buyers dump the models. Now apple watches are everywhere and lost the wow factor. Same with Teslas.
I mean, for recent buyers, it wasn't exactly hidden that the Inflation Reduction Act was bringing big tax incentives for EVs... Any small amount of looking at the news would've told you that 2023 would be the time to buy an EV as that is when the Inflation Reduction Act went into effect. Same goes for solar.
Tesla has always raised or lowered prices to modulate the backlog (I thought that was the reason). During COVID and afterward, they only raised prices and many people told (online) about selling their Tesla for either slightly below what they paid years earlier or sometimes more than they bought it for. I knew of one person that ordered a Tesla and sold it for $3,000 -$4,000 profit as soon as it came in. Tesla would only let him buy one every 90 days. When Tesla drops prices, they lower the prices for all those that have not taken delivery and when they raise prices, they honor the contract price. I noticed that since the big price drop, a week or so later, they began charging $4,000 for the 7-seat option on the Model Y (this had been $3,000 since they first announced the 7-seater). Used cars either benefit from price increases of new cars and also are hurt from price decreases. That is the way it is.
I ordered my Model Y in September of 2021 & took delivery in February of 2022 Base was $53,990 + options & FSD it came to $67K. KBB now shows it at $56 - 58K but I think FSD is the key to those Tesla's holding their value long term. Like you I plan to hold on to mine a long time, so the current market valuations are irrelevant to me.
You actually paid $10k for FSD? Really? Why would you do something so dumb? If you have to constantly be ready to take over than it’s more stressful than just driving.
@@tedbundy2379 You shouldn't disparage people you don't know by describing their actions as "dumb." That is not polite. Dumb to you is not the same as dumb to them. FSD is in its infancy and it works better than you might expect. If you haven't tried it, you shouldn't knock it. It has lots to go to improve, certainly, but once it gets better those of us who have it will be happy and you might be envious.
@@donaldstinnett5630 Dumb. Anyone paying for it is dumb. If words offend you then you are dumb. The technology on cars today is all that is needed. My new truck has adaptive cruise, will drive in its lane, anti collision, 360 degree cameras. It’s dumb to want FSD….every single time you want to go somewhere you have to have an address, if you want to stop somewhere on the way you have to take over anyway. Get behind a stalled car, you have to take over. It’s dumb.
Over the years we’ve all enjoyed how the electronics industry has been able to reduce prices while increasing functionality. Look how prices have come down on big screen TV for example. As cars become more and more computer like, its no surprise they will start heading down similar curves. Cars (with the exception of rare collectables) are not investments.
Ordered MY in May 2021 and took delivery in Jan 2022 at base price 51.4k, free 1k supercharging miles, free one year of premium connectivity, free charger; missing out on the additional 7.5k is unfortunate but already saved a few thousand compared to gas. I agree those who took delivery at the 60k plus base price should get free super charging (40k miles) or free EAP as compensation for the sudden price drops.
Based on the recent price reductions coupled with the tax incentives, both federal and state, we decided to go ahead and pick up the model 3 performance. I had not planned on getting a new car, but we think for price we paid that in the long run it will be a good deal. One of my primary reasons is I have zero faith that gas prices will be reasonable going forward, and our local price for power is very good, meaning significant savings for the next 10 years or so. The thing we all need to keep in mind is that if we agree that a price is a good value when we make a purchase that shouldn't change just because future prices change. These aren't investments so we should really be wise and hold the cars until we wear them out... at least that's what we tend to do. Other than that, very excited to get the car, our test drives really sold us on the car.
@@gordonschiff3621 If a frog had wings... Why make a silly comment that you know nothing about? The car I'm replacing is 18 years old and doesn't stand a chance of making another 20K. So Gordon, would you care to offer any additional financial advice to the community? Without prior knowledge of the situation?
The missing Park Distance Control and the unknown new Software replacement, how well will it work? The maybe coming new Radar Sensor, that rumors are talking about, hold me back to order one.. I'm close to press the button.. but... a perfekt working PDC is important for me, and Tesla struggles to read speed control signs here in Europe, so I'm a little skeptical when the software for the PDC really works. But the Rest of the car and the price are really nice now.
I have a Model 3. I am 1 year into the purchase and I’ve driven 30k miles. I wanted to trade it in for a Model Y. I still owe about $46k on the Model 3 loan, however, Tesla says they can only give me $22k for the trade in? What? Negative 24k equity??? There is no way that a car can depreciate that much in one year.
People need to stop complaining, the glad with what you got when you got it at a great price and enjoy the ride. Is the nature of the business as there’s nothing Tesla is going to do for anyone regarding that
I bought my M3LR for just under 58k after taxes and rebates ordered March 2022 took delivery June. No regrets. Interest rates are 3-5% higher than when i got mine and trade value for my old car was way higher then than would be now. Car itself is a little cheaper now after federal tax credit but the other factors cancel it out plus they have since removed the parking sensors and not added any improvements so they're functionally worse than mine now. And I couldn't be happier with my Tesla.
Been a Tesla customet for 4 weeks. Normally getting a new car i supposed to be a good experience, but getting to know Tesla better is the worst buying expetience in my life. Deeply regret to ever handing out my hard earned money, to such a cynical company ..😮
No regrets here. We leased 2 Teslas in 2021. A M3 SR for the wife and a MY LR for me. The purchase prices then were just before the major price increases so other then the Tax rebate it was approx the same as current. As interest rates have increased our lease payments now are higher due to interest rates and of course, trade-in is a non-issue. My plan is to get a CyberTruck in 2024 and the lease end should line up with my Dec 3 2019 CT reservation. If the price reductions result in a lower residual value that may allow us to purchase the model 3 SR at a lower number than originally projected at lease return. We shall see ...
Being that Telsa's build quality is very low, they're definitely not worth what the price tag says. Plus, they should be cheaper because once the battery is expired you have to drop a heavy 10k for a new one, and if you don't then Tesla will lockdown the vehicle until the battery is changed. Yes, that's right, once Tesla decides that it's time for you to change the battery, you can't drive the stupid thing. Sorry, but I prefer to have full control of my vehicle.
I’ve owned 6 Teslas. I was able to own 4 and flip for a profit after owning for 6 months or so on each one. I settled with a 2023 Model Y Performance for 69k in Nov 22. Mine is a unicorn with still having the sensors. That being said, Id love Tesla to offer us EAP or whatever but I’m not losing sleep. I’m happy with my Tesla and plan to keep it for a while.
I enjoyed your video and while I agree that Tesla is a business they do have the responsibility to take care of their customers in a way to ensure that they are loyal. I ordered a Tesla model 3 in December. I decided to buy a tesla because I needed a car to replace one that was totaled in an accident. Anyway, with all the driving I do I decided to go electric. I only bought a Tesla after I was texted but Tesla reps who specifically said the following “ buyers who purchase a model 3 or model y in the month of DECEMBER will receive a $3750 credit”. The wording said the entire month and, as others indicated on your posts, it made it seem like this was the best deal that they would offer. After I ordered I received multiple texts from tesla saying “ schedule your delivery or else your order would be cancelled and passed on to another customer”. So I scheduled my delivery for December 17th at the risk of not only losing the vehicle but also losing the $250 order fee. I took delivery of my car and was happy but then what did Tesla do? Three days later they began offering $7500 discounts on model 3 and ys. I would have much rather done that had I known. You mentioned the person who said she felt duped. You said that she didn’t get duped because no one forced her to buy. While that is true…no one put a gun to her head and said buy now….the wording on their website and in texts that Tesla send out are ….well not totally honest in my opinion. I feel like tesla should at least do something even if it’s not refunding the difference that people paid. Maybe more supercharging hours, gift cards towards buying some accessories in their website, free fsd…..I don’t know but they should do something to keep new tesla owners loyal.
Man, I don’t think it was necessary to call out the woman for being upset about the significant depreciation of her Tesla. Calling her out for buying a performance Tesla and basically saying she made the decision to buy the car without educationing herself first and didn’t think the purchase through as an adult! Additionally, you go through and explain to her how purchasing a vehicle and the depreciation of vehicles. You have zero knowledge of her situation but you have no problem judging her! SMH!!! Also, you can also absolutely have an appreciating value. We traded in our 2020 Model 3 for a 2022 Model 3 Performance and had a $19,000 appreciation value!!
It’s the cost to have something first!!! No different then buying a used gm!! Practically -60% for lightly used!! Just like buying the newest Jordan’s!! You paid premium to buy then first!!!
On a 50k luxury car, some one else could be buying the same car for thousands of dollars less than what you are paying as price of each car is individually negotiated. This happens to every other car ever day but people don't complain as they do not even know about it.
Andy my question to you is on your 2018 M3 since then what is the degradation on your mileage to date? My M3 LR lost about 11% after the first year. I get about 319 on a 100% charge now…. Thank you and keep up the great work.
I recall Andy mentioning in another video he had had about a 5% drop in his Model 3 battery capacity. Mine is almost 15%. Now I have whined about that to Tesla, but they assure me all is well. I still growl about it but it is within their margin so I accept it.
@@donaldstinnett5630 thanks for your reply, I was at a service center today and an employee stated if within the battery warranty it drops to 30% the battery will be replaced? So we’ll see…
@@SANTIAGOSANCHEZ-yw3pd From everything I've read or experienced, the charge degradation plateaus. You lose some, then it stabilizes at that point and you don't drop much after that. It's been my experience too ... from 315 miles at 100% to 277 miles, and it hasn't budged from that in a long time.
I tried to delay my delivery but tesla kept speeding up the delivery so I got my model y on Nov 2022. I feel the pain and just hope Elon Musk understand and will do something to make us feel better. I love my model y lr very much.
Like Andy said, the idea of free Self Driving subscription for a few months, or a number of free supercharging miles would be a good idea for Tesla to do.
I have a 4 year old Model 3. I don't mind the price drops. It makes me excited to think that when I buy my next Tesla, in 3 years or so, that I will be able to get a better price.
The reason something like a Toyota or other make of ICE that has a good reputation for reliability retains its resale value when it's a few years old is because the price of the new models generally incease. If you bought a Tesla or other EV make at the higher price point then you actually did get duped because the company knew full well what's going to happen to the resale value of it's second hand market once discounting is applied.
I got my Model 3 Performance last year, I'm happy with it, and plan to have it for at least 6 years. I am not worried about prices going up and down. the value will be back to at least the same it was right before the price drop in 6 years, I am almost 100% sure. Prices by then will be probably higher. So, my Model 3 should sell for a good amount. I do not care what it will be anyways, I am using it, enjoying it, I have a car that is faster than 90% of the cars out there, I spend almost nothing in electricity, it is a conversation starter as everybody asks about owning an EV and those who already have a Tesla, ask me about my aftermarket wheels (staggered Arachnid wheels 8.5 front and 10 rear) and also about the driver HUD I mounted for speed and gauges as I enjoy driving the car and having my display right on front. My plan is to buy another Model 3 Performance or equivalent from Tesla in 6 years, or, if I can, get a Model S Plaid or equivalent by then. Whatever money I get from my current Model 3 will go towards the down payment and perhaps the payments as well. I did not get the full Enhanced Autopilot nor the Full Self Driving feature. I think, and you all should too, that it is a full waste of money. the standard Autopilot is well capable of doing everything. if you travel a lot, then it might make sense, but to me, I would just pay the $200 per month, most likely only when needed, and save the money for more useful things. Unless you must sell your old Tesla now, I say you should hold it for now and wait to see how the market goes. I am sure as I said that the prices will go back up, not as much, but good enough to put most people back on track one way or another. As for Tesla doing something for the "angry" customers, I really doubt it, Elon already gave a firm NO to the protester in China when the price drop happened. But if anything, I would not even consider asking for free supercharging, that COST MONEY to Tesla. Think about it, they are not going to do that. What they could do is offer incentives like free Enhanced Autopilot to those who don't have it, or free Full Driving for those who already have the Enhanced one. it could be for a year or so, which also gives a good taste of what it is to the customers, and best of all, mostly for Tesla, IT IS FREE. Why? Because it cost them NOTHING to activate it, contrary to providing free supercharging. If you want to ask Tesla or tweet to Elon about it, I would suggest to ask for this and leave supercharging alone. As for the Tax credit that was not really discussed in this video and is one of the main reasons Tesla lowered the prices (the government did not get Tesla invited to that EV summit and then made the tax credit in a way that most Teslas would not qualify, so Elon just smacked them on their faces with the price cuts as most Model 3 and Y now qualify), you need to remember and understand (if you haven't) that the tax credit is nonrefundable. This means that it applies towards any tax you have to pay to Uncle Sam. If you have no tax liability or less than $7,500, bad news, you get nothing, or just a little bit (whatever you taxes were). It would have been nice for me, but my deal was still better as I had a Lexus IS350 F Sport and I was able to sell it to Carmax in the middle of the big shortage for thousands of dollars and it was a lease! They took it from me, and gave me a juicy check which I used for a down payment and the aftermarket wheels for my Model 3. I would not have got that money today for the Lexus, so it is what it is. Things happen for a reason, just don't go crazy, hold on to your Tesla, enjoy it, and wait for the right opportunity. Cheers
The day after the price cut announcement I put a deposit on a new one. I thought what an opportunity.. but nahhhh, ..... a late model used will be the way to go like I always do. Model y long range... with all that space; )
I don't know how anyone can say that the people who bought the car in December were not duped. That is absolutely the right word. This is the equivalent of insider trading. Knowing fully well that they were going to drop the prices to make them valid for the fed tax rebate coming up in Jan. This was downright dishonest on Tesla's part. Worked for me. I order a M3. I'm not complaining. But I'd be hopping mad and never buy another car from Tesla if I had been one of those who bought the car in December.
@@AndyPena89 definitely were duped. Tesla sales persons made it seem to buyers that prices were going to increase so buy now. Then after your purchase prices drop drastically overnight.
@@moeskieblack4539 no. Prices have been going up for past two years. They don't have a crystal ball. As supply chain gets better and competition grows they have to decrease prices. Would you pay a car company $10k extra after buying a car because they increased the price of the car a week later? No
It is only down if your trying to sell it. Like all goods, market determines value. Tesla and Musk always said that as production increased, prices would come down. Were you happy when you bought it, has it been what you thought it would be. It was a deal.
Yeah, so no one should trade their car in through Tesla because they gouge you on value. Try pricing out against third party used car companies- should have done a video including that.
I'm not bothered by this price drop. I got my Model Y Performance back in June 2020, and paid $63k for it, so I wouldn't of benefitted from this anyway, nor would I qualify for the tax credit, which expired by that point at the time. If anything, I just wish I could get a heated steering wheel, which a service advisor said wasn't retrofittable. He said Bioweapons Defense mode looks like it could be retrofit, but Tesla hasn't released a timetable for that yet on Model Y's that don't have it. Overall, I'm happy that this will make Teslas more affordable for many people.
Crazy how much the used car market took a hit in the past several months. I went to purchase and pick up my Model S and was trading in my 2019 M3PD in excellent condition with 23,000 miles, white interior & FSD (full loaded). When I arrived at Tesla they told me the trade in value & I was STUNNED on their offer. In fact, I used the same thing you mentioned how FSD is with $15,000 and Tesla was basically offering me peanuts for my car. I actually didn’t take delivery that day. I will sell the car on my own, but with these price drops, I will still take a hit. My car is fully loaded & still looks brand new, there’s a buyer for every car out there. We shall see 🤷🏽
There is no much gas saving as tires wears out quickly, supercharger cost three times than home charging, insurance cost more and depreciation is much more than gas car and if you need major repair good luck
Of course people are upset. After sale you expect a automaker to be around for service and protect resale value to a reasonable degree. Those things change the purchase calculus.
I agree with your main points but you should make it clear that the KBB value is a retail price and Tesla’s trade in value is a “low ball” wholesale offer. There is at least a 20% difference between trade in and a retail “asking price” and in Tesla’s case more like a 30% difference.
The auto market as a whole is correcting itself after the last 2 years. It’s just more transparent with Tesla because they adjust MSRP, rather than 3rd party dealers that adjust pricing with dealer markups or discounts.
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The title reminds me of the Simpson's meme "Stop, he's already dead"
Love when people buy a deprecating asset and are shocked when it depreciates
Exactly only with Tesla do people have this disillusion and unrealistic expectation that depreciation does not exist on a vehicle which is a depreciating asset.
@@erichchan3 Sure sounds like it
@@erichchan3 That's because of the financial nose bleed they got when they paid for it.
I'm ordering a custom plate for my DEC 22 Model Y...."IPD2MCH" HAHAHA!
Careful... someone might think you're incontinent 😂
@@Mike-fi3xdthat's what I thought! 😂
No worries, I'm sure Elon got an app for that as well! 😅
I didn't suffer because I didn't buy a tesla yet lol
You are prolonging the inevitable pain and suffering.... :)
In the UK this has massively impacted the depreciation of all EVs. Porsche is even giving a £5K discount off new Taycans….. and Porsche never gives discounts!! The EV market is really starting to struggle in Europe now.
As you said, this applies to any purchase. We bought a Sierra in 2014 at what we thought was a reasonable price. The next day the dealership had a black Fiday sale! Wish they had told us to wait 1 day. We have a tesla model 3 since the summer. Wonderful car. We're so glad we bought it.
I’m excited. I just bought a Plaid last weekend and pick it up tomorrow.
No you didn't, and no you won't.
After purchasing my 2008 Toyota Rav4 17 years ago, I finally bought the Tesla Model Y recently and planning to keep it for many many years to come.
I've waited for an ev for 2 years because I refused to pay more for the same car. With the price drop, I finally pull the trigger. People should stop complaining and shop smarter
Thank God there is this grown man in the room. Bravo!
I got our Model Y years ago, but I helped my uncle get theirs in the last few days of December. I understand why Tesla did the price drop (the IRS calling the 5-seater a "Sedan" was messed up). But Tesla still left those late December buyers screwed over. These people excitedly purchased their new vehicle from Tesla and trusted that they would be happy with their purchase. That includes being happy with the financial aspect of the purchase, not just the physical product. But they quickly learned that if they would have waited 2 weeks, they could have saved 13 to 20 thousand dollars?! Tesla makes great products, but they don't always take care of their customers and too often resort to the "too bad, so sad" mentality. It doesn't build good faith with the company for the consumers. I have to agree with my uncle that this was another example of the company enforcing the doubt that many people still have with their customer service aspect. This will likely be their first and last Tesla ever and I can't blame them for that. The group of late December buyers is small enough that Tesla could easily give them free unlimited supercharging to make it right, and the company would be ok.
I agree. Tesla made it seem like this was the "best" deal in December and you had to get it. Sure, they have a right to do that but as customers, we have a right to feel irritated, taken advantage of, and never buy a Tesla again.
It sucks for anyone who bought right before the price drop, but honestly, no one cares and they should NOT get any form of compensation in free charging or anything because the millions of ppl who bought right AFTER constant price increases over the past few years were not given any sympathy compensation. It’s common sense. You & Your family should be grateful they could even afford a new vehicle comfortably at the price they picked - many ppl got messed over the last few years with random increases
@@YungAnt7 People do care, that's why so many are complaining. That's also why so many are trying to stop them from complaining because that hurts the brand name. More complaints, the better!
@@caingalata4132 This! The higher ups in Tesla knew they were pushing people all while planning this big drop. It's the problem with public companies and capitalism... always taking advantage of someone.
My first expetience with Tesla .. and it isn’t a good one. I were hopefull and entusiastic before the price drop - now just angry. By the way - I despite all the bots, who will tell, that I should have know better, so ..😮
I just bought a 2020 Model 3 Performance with 20k miles with no accidents for $34,000😃
S3XY buttons are genius! The values for used mach-e's have plummeted as well seemingly overnight. I don't see how Ford will sell a mach-e GT for $10-15k more than a model y performance when it's slower, especially at higher speeds.
Bought my 2022 MYP in mid October for $83,400. It now has 5k miles in mint condition and was valued at $38,215 today 2.4.2023!!!!! Who was it that said Teslas hold their value?
I bought a 2023 Model Y for $56630. Now I can buy the same car around $28000. I think I have a right to feel pissed off. Anyone would be angry with 52% depressiation in one year
but aren't you impressed by the stupid look Elon has on his face all the time?
I bought a 2022 Model 3 used with 7500 miles for 41K, and one year later they will trade it in for 22K. Wow.
Andy, I still have the same car that I paid $58,000 for a year and a half ago. I pay almost nothing for Electricity for it. It runs great. I can still give whip lashes to my friends. I haven’t had any problems with my Y and I have no regrets. I hope the price drops even more so more of my family and friends can enjoy the feelings that I do. If I could turn back the clock then I would not hesitate doing the same thing at the same time. ❤
I still have my 2004 Acura TL. It looks and drives great. 147K miles and going strong. My registration and insurance together are $600 per year. It is paid off. If I bought avTesla it would cost me $2900 a year in insurance and registration. It takes a lot of miles to make up that difference not to mention the huge car payment. My advice to all you friends is to keep their current car running unless they are driving 50K miles as an Uber driver. You cannot easily make up over $10k a year in gas savings
@@gordonschiff3621 You drive low miles per year so EV is not going to save you much. I think comparison would have to come from an equivalent priced ICE vehicle over savings from gas & maintenance. I had high maintenance cost on my ex-BMW past warranty.
@@gordonschiff3621 If your registration and insurance on a Tesla Model 3 is $2,900 a year, you are living in the wrong place. Mine is about half that, including the EV road-gas-tax surcharge.
i drive 2014 honda accord.. completely paid off 3 years back at 0.9% interest..running it free of costs with combined gas + maintainence charges + insurance $2000 per year.. thats the cost i would pay in two months if i buy tesla and for the next 5 years..😂
They can buy mines
We bought our 2021 Model Y in July of 2021. At the time, there was talk of the $7500 rebate and that it might be retroactive. There was no guarantee and, as it turned out, we did not get the tax credit. However, we asked ourselves at the time, “regardless of the possibility of the tax credit, would we buy the Model Y anyways?” We decided the car was a worthwhile purchase, tax credit or not. So when the tax credit was passed, we didn’t feel cheated and ,with the recent price reductions, are buying a second Model Y. Do your research and make informed, well thought out buying decisions.
A girl i know for many years ago bought a really cheap used car. Paid SEK 4.000 (around USD 400). Drove it for one year. The engine started to leak oil. The workshop said the engine needed big overhaul or replacement, and for that money it was worth... no, not something you do. But the workshop offered to buy the car from her. She got... SEK 5.000 (USD 500)!
So a working car, drive one year, and now a broken car = increased value.
That was Amazing. She just "Deal!" and sold it immediately.
Fellow old model 3 owner. The main thing keeping me from upgrading to a model Y is that they don't let you transfer the FSD. It's kind of ridiculous that they now offer FSD for $200 per month or $15k non transferable.
I think anyone paying $15k or like us who bought it before the subscription should be able to transfer it to a new car that we own. Literally costs tesla nothing and would bring a huge influx of buyers upgrading since no way we would trade in and then buy FSD again which would be a huge loss, like you said a value of $4k for your car basically
I guess I am suffering a little. I bought my model 3 performance last year. I took delivery in early June. It is what it is. It would be a cool gesture to offer free software upgrade like enhanced auto pilot, but I enjoy the hell out of the car and I'm glad to have it.
You get less value for your car on the second hand market but also you need to pay less for your next vehicle (for a a Tesla at least). It's not a wash but not the drama this video makes it out to be.
I got my SR+ in March 2021. It turns out it was pretty good timing as far as price goes. $37.5K for the car, and I opted to get red, so another $2k for that. The average price for a new car at that time was $40,000 in the US.
I’ve driven 26,000+ miles thus far.
I am so pleased with the car that I definitely feel I made an excellent purchase. It’s cheap to operate, fun to drive, and easy to live with.
In 50+ years of driving and owning all types of vehicles, I can honestly say I’ve never had a better car, by any measure.
Someone I know bought his 3 a couple years ago and says it's the best car and who would need anything more,,, he just loves it. The funny thing is he is a multi-millionaire worth over 10 large... but he knows how to live below his means. In fact every person I know that owns one is thrilled with it.
So red paint costs 2k more than say white paint? Yeah right...😂
last time i checked, a car is a depreciating asset. As a rule of thumb, as you drive off the lot the car depreciates by 50%.
Not 50%....
I just checked the price of a new 2023 Model 3 configured as is mine and it is priced at $67,490. I paid $61,500 for mine. I remain very happy, even with the price reductions. Actually the new one has only the 30-day trial of Premium Connectivity, which I have for life, so the price difference -- in my favor -- is even better. Life is good, but it's better in a Tesla.
(Edited to add this paragraph)
I bought a flat-panel 51" Samsung television a few years ago for $1,100. Now a 65" version is priced at almost half of that. Price reduction indeed -- but I am still happy with my original purchase. No whining allowed.
I brought home my first ever Tesla at the end of November, and Tesla was pushing me to take delivery at the end of the month. Now while I do love the car and have no regrets, needless to say it's rather frustrating that Tesla not only announced a price cut in December, but now also in January. Two back-to-back price cuts right after delivery is infuriating to say the least.
Like you said this literally happened overnight, and the fact that you can take delivery one day, only to lose the chance to take off thousands of dollars the very next day is absurd. If Tesla continues to adopt these practices then they need to offer some kind of grace period for recent buyers. If we saw such actions from legacy dealerships like Ford, Honda, Nissan, etc, then the amount of people lined up outside their doors ready to protest would be insurmountable.
Those legacy car dealers have special pricing often. If you didn't get there for their Special Sales Event "yesterday," well, you don't get that price "today." Labor Day Specials, End-of-Year Clearances ... no matter what you buy or where you buy it, you can get burned if you don't buy "at the right time." But the "right time" is always shifting.
@@donaldstinnett5630 I'm certainly not implying that other dealerships don't have sales, but unlike Tesla their sales are not only advertised to the public, but they don't happen literally overnight at the drop of a hat. By publicly announcing sales, it allows the public to plan accordingly, which is what Tesla should be doing.
Insurmountable really. I and the people I associate with cannot even .. at the moment .. think of buying a Tesla car. You talk about infuriation as if you were hard doñe by. OK let's trade places cry baby. Do I miss your point no do not think so. You stated your case clearly, enough. Did I state clearly enough....count your blessings... NOT LIKELY
Crazy right? The owner of the company never just does things at the drop of a hat… 😅
I’ve been looking at Teslas for a good few months now as I can have a M3 as a company car, but I was looking to buy a MY for myself.
There’s a lot of rumour about how much value Teslas lose, yet I’ve not seen any for sale in the UK at the prices that people say they’ve dropped to.
Is it just scaremongering? I mean the MY long range is cheaper than the highest spec Nissan Ariya, and actually most other cars in the same class at the same price simp,y don’t have the features that teslas do. 🤷♂️
lol they get mad when price goes up, then get mad when price goes down
People got scammed and still think they are ahead of the game, what a joke!
I will benefit from the price drop because I haven't bought a Tesla yet.
Well, whaddoyaknow? I sold my 2018 Model 3 in 2021 (because of a back injury, I could no longer get in the M3), trading it for a large SUV, and have felt terrible that I missed out on all the "appreciation" the car was supposed to have enjoyed between 2018 and 2022, but your KBB statistic on the current value of a M3 has made me feel much better of having traded out for a bigger, more comfortable car.
The 2018 3 is worth 25k minimum on the street. The 2022 Y LR is worth 45k on the street. Prices will go up until you can buy a New Tesla Today. When that happens the street values on Teslas will truly dip.
Why not just wait? Tesla will increase its prices which would increase resale value right? I don’t see Tesla cars having issues these next 3 months when they increase prices later. Buying a Tesla is saving you money on gas, oil changes, maintenances, and etc long run regardless
lol
I'm trying to buy a 2 to 3 year old Model 3 and almost everyone that's offering them for sale is underwater on their loans. Or at least, they're worth much less than what most people are asking for them.
Bought my Model Y outright October 2020 for $55,321.60 and have put near 130k miles on it. SIMPLY NO REGRETS! Best car I have ever owned and I am considering a Model X to replace my Y until my Cybertruck comes in a couple years!
How's your battery degradation after 130k miles?
Don't buy expensive things during high inflation is the lesson learned by many people
I was just about to say. My own brother purchased his in February last year and got delivery end of July. I told him to wait especially with the $7500 tax incentive rumors. He didn’t listen. I purchased mine December 22 and took delivery the 23rd and once I heard the full $7500 off incentive was going to be at point of sale as well as the 10k free supercharging miles (which I rely on since I don’t own a home) was all the more reason to “pull the trigger” and I don’t regret waiting one bit, sucks I didn’t get this new price reduction but I’m still super happy with my model 3
That’s like feeling sorry for folks that paid $30k over sticker, and now they see that they’ve lost $30k AND usual depreciation.
the people who took deliveries taken between Jan 1 and Jan12 2023. My condolences.
Who likes to be early adaptor? That is the risk. Wait till Hertz and the new buyers dump the models. Now apple watches are everywhere and lost the wow factor. Same with Teslas.
Are you serious $19k for your model 3? I will buy this anytime. Please let me
I mean, for recent buyers, it wasn't exactly hidden that the Inflation Reduction Act was bringing big tax incentives for EVs... Any small amount of looking at the news would've told you that 2023 would be the time to buy an EV as that is when the Inflation Reduction Act went into effect. Same goes for solar.
It was about to burst that bubble!
Those buttons are very nice. My daughter will love having heat control with the buttons.
where do you live, is it cold there in the winter?
The problem is people bought without doing any research on why the pricing was so high 2021-2022. Now they’re mad because they were impatient
Tesla has always raised or lowered prices to modulate the backlog (I thought that was the reason). During COVID and afterward, they only raised prices and many people told (online) about selling their Tesla for either slightly below what they paid years earlier or sometimes more than they bought it for. I knew of one person that ordered a Tesla and sold it for $3,000 -$4,000 profit as soon as it came in. Tesla would only let him buy one every 90 days. When Tesla drops prices, they lower the prices for all those that have not taken delivery and when they raise prices, they honor the contract price. I noticed that since the big price drop, a week or so later, they began charging $4,000 for the 7-seat option on the Model Y (this had been $3,000 since they first announced the 7-seater). Used cars either benefit from price increases of new cars and also are hurt from price decreases. That is the way it is.
I'm old enough to remember that cars lost 20% just pulling out of the lot brand new.
I ordered my Model Y in September of 2021 & took delivery in February of 2022 Base was $53,990 + options & FSD it came to $67K. KBB now shows it at $56 - 58K but I think FSD is the key to those Tesla's holding their value long term. Like you I plan to hold on to mine a long time, so the current market valuations are irrelevant to me.
You actually paid $10k for FSD? Really? Why would you do something so dumb? If you have to constantly be ready to take over than it’s more stressful than just driving.
@@tedbundy2379 You shouldn't disparage people you don't know by describing their actions as "dumb." That is not polite. Dumb to you is not the same as dumb to them. FSD is in its infancy and it works better than you might expect. If you haven't tried it, you shouldn't knock it. It has lots to go to improve, certainly, but once it gets better those of us who have it will be happy and you might be envious.
@@donaldstinnett5630 Dumb. Anyone paying for it is dumb. If words offend you then you are dumb. The technology on cars today is all that is needed. My new truck has adaptive cruise, will drive in its lane, anti collision, 360 degree cameras. It’s dumb to want FSD….every single time you want to go somewhere you have to have an address, if you want to stop somewhere on the way you have to take over anyway. Get behind a stalled car, you have to take over. It’s dumb.
I enjoy my Tesla as an everyday appliance but love my s2000. It has fortunately gained value over my 7 year ownership
You were smart to keep the s2000.
Tesla is not making them angry. Their anger is just revealed. The very act of buying something is evidence that it was worth it at that price.
Your old Model 3 is really a sharp looking vehicle.
Over the years we’ve all enjoyed how the electronics industry has been able to reduce prices while increasing functionality. Look how prices have come down on big screen TV for example. As cars become more and more computer like, its no surprise they will start heading down similar curves. Cars (with the exception of rare collectables) are not investments.
Ordered MY in May 2021 and took delivery in Jan 2022 at base price 51.4k, free 1k supercharging miles, free one year of premium connectivity, free charger; missing out on the additional 7.5k is unfortunate but already saved a few thousand compared to gas. I agree those who took delivery at the 60k plus base price should get free super charging (40k miles) or free EAP as compensation for the sudden price drops.
Here is the solution. Buy Tesla shares. This way you profit from the success of Tesla.
Perfect. For $3,000i’ll buy one, drive it till it stops and throw it away.
Based on the recent price reductions coupled with the tax incentives, both federal and state, we decided to go ahead and pick up the model 3 performance. I had not planned on getting a new car, but we think for price we paid that in the long run it will be a good deal. One of my primary reasons is I have zero faith that gas prices will be reasonable going forward, and our local price for power is very good, meaning significant savings for the next 10 years or so. The thing we all need to keep in mind is that if we agree that a price is a good value when we make a purchase that shouldn't change just because future prices change. These aren't investments so we should really be wise and hold the cars until we wear them out... at least that's what we tend to do.
Other than that, very excited to get the car, our test drives really sold us on the car.
I wish I could, its a steal right not. A great move imo as timing is everything when it comes to getting the best value. Well done.
It won’t if you had a functional car that could run another 100k. It was a bad financial decision.
@@gordonschiff3621 If a frog had wings... Why make a silly comment that you know nothing about? The car I'm replacing is 18 years old and doesn't stand a chance of making another 20K. So Gordon, would you care to offer any additional financial advice to the community? Without prior knowledge of the situation?
@@Mike-fi3xd good move, Mike, you won't regret it.
The missing Park Distance Control and the unknown new Software replacement, how well will it work? The maybe coming new Radar Sensor, that rumors are talking about, hold me back to order one.. I'm close to press the button.. but... a perfekt working PDC is important for me, and Tesla struggles to read speed control signs here in Europe, so I'm a little skeptical when the software for the PDC really works. But the Rest of the car and the price are really nice now.
I have a Model 3. I am 1 year into the purchase and I’ve driven 30k miles. I wanted to trade it in for a Model Y. I still owe about $46k on the Model 3 loan, however, Tesla says they can only give me $22k for the trade in?
What? Negative 24k equity??? There is no way that a car can depreciate that much in one year.
People need to stop complaining, the glad with what you got when you got it at a great price and enjoy the ride. Is the nature of the business as there’s nothing Tesla is going to do for anyone regarding that
When you're selling something, anything, it's only worth what someone is willing to pay.
Definitely getting those buttons, my glove box officially thanks you
Thank you Andy!
I have my Tesla model 3 dual motor since 2018 and still love it! I also not planning to replace it!
that is great news, thank you.
I bought my M3LR for just under 58k after taxes and rebates ordered March 2022 took delivery June. No regrets. Interest rates are 3-5% higher than when i got mine and trade value for my old car was way higher then than would be now. Car itself is a little cheaper now after federal tax credit but the other factors cancel it out plus they have since removed the parking sensors and not added any improvements so they're functionally worse than mine now. And I couldn't be happier with my Tesla.
Been a Tesla customet for 4 weeks. Normally getting a new car i supposed to be a good experience, but getting to know Tesla better is the worst buying expetience in my life. Deeply regret to ever handing out my hard earned money, to such a cynical company ..😮
No regrets here. We leased 2 Teslas in 2021. A M3 SR for the wife and a MY LR for me. The purchase prices then were just before the major price increases so other then the Tax rebate it was approx the same as current. As interest rates have increased our lease payments now are higher due to interest rates and of course, trade-in is a non-issue. My plan is to get a CyberTruck in 2024 and the lease end should line up with my Dec 3 2019 CT reservation. If the price reductions result in a lower residual value that may allow us to purchase the model 3 SR at a lower number than originally projected at lease return. We shall see ...
This video owner just wants to piss more people off. I am freaking mad that I missed the price cut only 1 week. It’s a ripoff deal
You could cancel and wait a few days and reorder, maybe?
Oh no. Did this guy explain how a person buys a car and "agrees" on the price. What a condensending Tesla spokes person
Being that Telsa's build quality is very low, they're definitely not worth what the price tag says. Plus, they should be cheaper because once the battery is expired you have to drop a heavy 10k for a new one, and if you don't then Tesla will lockdown the vehicle until the battery is changed. Yes, that's right, once Tesla decides that it's time for you to change the battery, you can't drive the stupid thing.
Sorry, but I prefer to have full control of my vehicle.
To be fair, every car has this issue. Not just Tesla.
I’ve owned 6 Teslas. I was able to own 4 and flip for a profit after owning for 6 months or so on each one. I settled with a 2023 Model Y Performance for 69k in Nov 22. Mine is a unicorn with still having the sensors. That being said, Id love Tesla to offer us EAP or whatever but I’m not losing sleep. I’m happy with my Tesla and plan to keep it for a while.
u owned 6 teslas.. lol are u running a rental😊
Karma :)
Tesla should give all purchasers that took delivery before the price drops FSD or EAP
2:16 took me 5 years to decide on the right model 3 for me with 20 hours of test driving for model 3 Y and S
I enjoyed your video and while I agree that Tesla is a business they do have the responsibility to take care of their customers in a way to ensure that they are loyal. I ordered a Tesla model 3 in December. I decided to buy a tesla because I needed a car to replace one that was totaled in an accident. Anyway, with all the driving I do I decided to go electric. I only bought a Tesla after I was texted but Tesla reps who specifically said the following “ buyers who purchase a model 3 or model y in the month of DECEMBER will receive a $3750 credit”. The wording said the entire month and, as others indicated on your posts, it made it seem like this was the best deal that they would offer. After I ordered I received multiple texts from tesla saying “ schedule your delivery or else your order would be cancelled and passed on to another customer”. So I scheduled my delivery for December 17th at the risk of not only losing the vehicle but also losing the $250 order fee. I took delivery of my car and was happy but then what did Tesla do? Three days later they began offering $7500 discounts on model 3 and ys. I would have much rather done that had I known. You mentioned the person who said she felt duped. You said that she didn’t get duped because no one forced her to buy. While that is true…no one put a gun to her head and said buy now….the wording on their website and in texts that Tesla send out are ….well not totally honest in my opinion. I feel like tesla should at least do something even if it’s not refunding the difference that people paid. Maybe more supercharging hours, gift cards towards buying some accessories in their website, free fsd…..I don’t know but they should do something to keep new tesla owners loyal.
Exactly .. the very hard push, to deliver the way overpriced cars to as many as possibly before the price cut - very cynical, never to be forgot…
Man, I don’t think it was necessary to call out the woman for being upset about the significant depreciation of her Tesla. Calling her out for buying a performance Tesla and basically saying she made the decision to buy the car without educationing herself first and didn’t think the purchase through as an adult! Additionally, you go through and explain to her how purchasing a vehicle and the depreciation of vehicles. You have zero knowledge of her situation but you have no problem judging her! SMH!!!
Also, you can also absolutely have an appreciating value. We traded in our 2020 Model 3 for a 2022 Model 3 Performance and had a $19,000 appreciation value!!
It’s the cost to have something first!!! No different then buying a used gm!! Practically -60% for lightly used!! Just like buying the newest Jordan’s!! You paid premium to buy then first!!!
On a 50k luxury car, some one else could be buying the same car for thousands of dollars less than what you are paying as price of each car is individually negotiated. This happens to every other car ever day but people don't complain as they do not even know about it.
Andy my question to you is on your 2018 M3 since then what is the degradation on your mileage to date? My M3 LR lost about 11% after the first year. I get about 319 on a 100% charge now…. Thank you and keep up the great work.
I recall Andy mentioning in another video he had had about a 5% drop in his Model 3 battery capacity. Mine is almost 15%. Now I have whined about that to Tesla, but they assure me all is well. I still growl about it but it is within their margin so I accept it.
@@donaldstinnett5630 thanks for your reply, I was at a service center today and an employee stated if within the battery warranty it drops to 30% the battery will be replaced? So we’ll see…
@@SANTIAGOSANCHEZ-yw3pd From everything I've read or experienced, the charge degradation plateaus. You lose some, then it stabilizes at that point and you don't drop much after that. It's been my experience too ... from 315 miles at 100% to 277 miles, and it hasn't budged from that in a long time.
I went from 358 to 315-319 in 13 months. Model 3 AWDLR
@@kennethhandin5506 Thanks for this
Need your Advice.
Hi Andy, I have placed model Y but still thinking how should I finance through Tesla or
thank you an advance!
I tried to delay my delivery but tesla kept speeding up the delivery so I got my model y on Nov 2022. I feel the pain and just hope Elon Musk understand and will do something to make us feel better. I love my model y lr very much.
Like Andy said, the idea of free Self Driving subscription for a few months, or a number of free supercharging miles would be a good idea for Tesla to do.
I have a 4 year old Model 3. I don't mind the price drops. It makes me excited to think that when I buy my next Tesla, in 3 years or so, that I will be able to get a better price.
Dumb
The reason something like a Toyota or other make of ICE that has a good reputation for reliability retains its resale value when it's a few years old is because the price of the new models generally incease. If you bought a Tesla or other EV make at the higher price point then you actually did get duped because the company knew full well what's going to happen to the resale value of it's second hand market once discounting is applied.
I got my Model 3 Performance last year, I'm happy with it, and plan to have it for at least 6 years. I am not worried about prices going up and down. the value will be back to at least the same it was right before the price drop in 6 years, I am almost 100% sure. Prices by then will be probably higher. So, my Model 3 should sell for a good amount. I do not care what it will be anyways, I am using it, enjoying it, I have a car that is faster than 90% of the cars out there, I spend almost nothing in electricity, it is a conversation starter as everybody asks about owning an EV and those who already have a Tesla, ask me about my aftermarket wheels (staggered Arachnid wheels 8.5 front and 10 rear) and also about the driver HUD I mounted for speed and gauges as I enjoy driving the car and having my display right on front.
My plan is to buy another Model 3 Performance or equivalent from Tesla in 6 years, or, if I can, get a Model S Plaid or equivalent by then. Whatever money I get from my current Model 3 will go towards the down payment and perhaps the payments as well.
I did not get the full Enhanced Autopilot nor the Full Self Driving feature. I think, and you all should too, that it is a full waste of money. the standard Autopilot is well capable of doing everything. if you travel a lot, then it might make sense, but to me, I would just pay the $200 per month, most likely only when needed, and save the money for more useful things.
Unless you must sell your old Tesla now, I say you should hold it for now and wait to see how the market goes. I am sure as I said that the prices will go back up, not as much, but good enough to put most people back on track one way or another.
As for Tesla doing something for the "angry" customers, I really doubt it, Elon already gave a firm NO to the protester in China when the price drop happened. But if anything, I would not even consider asking for free supercharging, that COST MONEY to Tesla. Think about it, they are not going to do that. What they could do is offer incentives like free Enhanced Autopilot to those who don't have it, or free Full Driving for those who already have the Enhanced one. it could be for a year or so, which also gives a good taste of what it is to the customers, and best of all, mostly for Tesla, IT IS FREE. Why? Because it cost them NOTHING to activate it, contrary to providing free supercharging. If you want to ask Tesla or tweet to Elon about it, I would suggest to ask for this and leave supercharging alone.
As for the Tax credit that was not really discussed in this video and is one of the main reasons Tesla lowered the prices (the government did not get Tesla invited to that EV summit and then made the tax credit in a way that most Teslas would not qualify, so Elon just smacked them on their faces with the price cuts as most Model 3 and Y now qualify), you need to remember and understand (if you haven't) that the tax credit is nonrefundable. This means that it applies towards any tax you have to pay to Uncle Sam. If you have no tax liability or less than $7,500, bad news, you get nothing, or just a little bit (whatever you taxes were). It would have been nice for me, but my deal was still better as I had a Lexus IS350 F Sport and I was able to sell it to Carmax in the middle of the big shortage for thousands of dollars and it was a lease! They took it from me, and gave me a juicy check which I used for a down payment and the aftermarket wheels for my Model 3. I would not have got that money today for the Lexus, so it is what it is.
Things happen for a reason, just don't go crazy, hold on to your Tesla, enjoy it, and wait for the right opportunity.
Cheers
What did these complainers expect Tesla to do? Tell everyone a price drop was coming? Way to kill demand.
Bought mine in August. Sucks but I had it for 6 months. I would not have waited.
Going to pick my model 3 up on Saturday and I really appreciate your videos and perspective.
The day after the price cut announcement I put a deposit on a new one. I thought what an opportunity.. but nahhhh, ..... a late model used will be the way to go like I always do.
Model y long range... with all that space; )
I Loved This Video. Very Informative, Very Real. Tell Them Again, BE Grateful.
Thank you for explaining this to the people! That’s life!
Its also life for people to complain and bad mouth the company and never buy it again!
It's back to (auto) reality, and be thankful Tesla exists.
I don't know how anyone can say that the people who bought the car in December were not duped. That is absolutely the right word. This is the equivalent of insider trading. Knowing fully well that they were going to drop the prices to make them valid for the fed tax rebate coming up in Jan. This was downright dishonest on Tesla's part. Worked for me. I order a M3. I'm not complaining. But I'd be hopping mad and never buy another car from Tesla if I had been one of those who bought the car in December.
Sold my M3P privately today. Got 70% of what I paid 3 years ago. Tesla in Australia give $0 for FSD at trade in.
I feel so bad for those who took delivery in late 2022, they got screwed
Prices change. Live with it.
Some of them still got a discount from Tesla in December. I feel bad for deliveries taken between Jan 1 and Jan12 2023
Literally didn't get screwed. The saw price. Paid price. They were not duped. Jesus
@@AndyPena89 definitely were duped. Tesla sales persons made it seem to buyers that prices were going to increase so buy now. Then after your purchase prices drop drastically overnight.
@@moeskieblack4539 no. Prices have been going up for past two years. They don't have a crystal ball. As supply chain gets better and competition grows they have to decrease prices. Would you pay a car company $10k extra after buying a car because they increased the price of the car a week later? No
It is only down if your trying to sell it. Like all goods, market determines value. Tesla and Musk always said that as production increased, prices would come down. Were you happy when you bought it, has it been what you thought it would be. It was a deal.
Yeah, so no one should trade their car in through Tesla because they gouge you on value. Try pricing out against third party used car companies- should have done a video including that.
I'm not bothered by this price drop. I got my Model Y Performance back in June 2020, and paid $63k for it, so I wouldn't of benefitted from this anyway, nor would I qualify for the tax credit, which expired by that point at the time.
If anything, I just wish I could get a heated steering wheel, which a service advisor said wasn't retrofittable. He said Bioweapons Defense mode looks like it could be retrofit, but Tesla hasn't released a timetable for that yet on Model Y's that don't have it.
Overall, I'm happy that this will make Teslas more affordable for many people.
The removal of features and hardware doesn't really help make the case for retaining value either
I still can’t justify within 15 days paid $20,000 more for the same car as well as interest rate doubling from my 2021 Tesla.
Great video! I own a 2019 model 3 performance and not looking back!
Crazy how much the used car market took a hit in the past several months. I went to purchase and pick up my Model S and was trading in my 2019 M3PD in excellent condition with 23,000 miles, white interior & FSD (full loaded). When I arrived at Tesla they told me the trade in value & I was STUNNED on their offer. In fact, I used the same thing you mentioned how FSD is with $15,000 and Tesla was basically offering me peanuts for my car. I actually didn’t take delivery that day. I will sell the car on my own, but with these price drops, I will still take a hit. My car is fully loaded & still looks brand new, there’s a buyer for every car out there. We shall see 🤷🏽
It is a 4 year old car. Any used car is worth what you can get for it. 15k is insane. Street value has not reached that point. Still around 25 k.
I just bought a 2020 M3P like new with no accidents but only has enhanced autopilot for $34,000 😁
FSD is worth just 1k-2k in real world market, not $15k because thats how market values it.
There is no much gas saving as tires wears out quickly, supercharger cost three times than home charging, insurance cost more and depreciation is much more than gas car and if you need major repair good luck
Of course people are upset. After sale you expect a automaker to be around for service and protect resale value to a reasonable degree. Those things change the purchase calculus.
I agree with your main points but you should make it clear that the KBB value is a retail price and Tesla’s trade in value is a “low ball” wholesale offer. There is at least a 20% difference between trade in and a retail “asking price” and in Tesla’s case more like a 30% difference.
The auto market as a whole is correcting itself after the last 2 years. It’s just more transparent with Tesla because they adjust MSRP, rather than 3rd party dealers that adjust pricing with dealer markups or discounts.
Guy: Tesla is great
Also Guy: buy this aftermarket plastic to open the glove box