Here's why Tesla values have dropped so fast
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- เผยแพร่เมื่อ 14 ม.ค. 2023
- Over the past few months Tesla prices both in the new and used markets have dropped fast. I myself have had first hand experience in just what happened; in this video I share my thoughts and opinions on the situation. Enjoy!
#teslaprice
No different from every single time you leave a legacy car lot w a new car, value drops by thousands... Cars are NOT investments... They depreciate by the hour/mile. Bad timing is all this is. For every whiner there is someone celebrating the great deal they are about to get.
So true, but still very frustrating!
@@danielf_swe Absolutely, but the same premise holds true that if down the road, demand or price increases then so will the value of your car. I'm actually just jealous that you get to drive a Tesla every day! 😁 Truth is money is fluid, it comes and goes, rises and falls just like the waves in the ocean. Have an abundant mindset and it all works out in the end😉
@@emergingresultsWhat a nice way to put it! That part about the ocean, almost poetically! 👍 Well, yes! It’s a nice car! And since I ordered it 1,5 years ago I got a really good price. I never thought of it as an investment, but a new car at discount and hopefully without the value dropping by thousands. However with the upcoming price reduction worldwide it might turn out not to be as good as I thought. 🤔
$130,000 and you said no=got really greedy. Overall car market had been dropping since last may.
Paid full price for a brand new ‘23 MYP that I took delivery of back in Nov ‘22. All I kept hearing about when I first ordered it (back in September ‘22) is how well Tesla’s retain their value over other manufacturers. If I were to trade in my $70K+ MYP right now I might get between $40K-$45K for it. To put more salt on it, I missed the $7500 price cut in December and my MYP doesn’t qualify for the $7500 federal tax credit. Yes, it stings. It’ll stay in the family and I’ll probably pass it off to my son after he graduates college in a few years. At the end of the day, I really enjoy driving the car and it’s been a great daily commute.
Anyway, I’m in Colorado too. Let’s go grab a beer sometime.
Ouch. Might be better off walking away from it and taking the credit hit.
@@JonathanRootD It stays. I needed a new daily driver for my 40+ mile round trip commute anyway. My son took over the Tacoma and the wife commands the Sienna AWD, so I was in the market for a new vehicle and figured it was good time to jump into an EV. Had I known I could save a decent amount of money on the purchase I would have waited another month and took advantage of the current deals. We’re not struggling financially and I won’t lose sleep over it. But if given a choice I’d obviously prefer to pay less and save. Oh well. You win some, you lose some. Life’s too short to get hung up on what could have been.
A couple of years ago Tesla cut prices on MS and MX almost $50000 here in Sweden. People were wining in the newspapers, quite easy to understand. A few years later prices started to raise again and are now on the highest levels since the launch of the new Plaid models was only about three weeks ago. The Tesla community is now waiting for a new price cut on those models similar to the once we have seen in the US lately. I hope not… 😭
@Jonathan Root i don't think the credit hit would be worth it. A huge medical bill like our daughter's $234,000 medical bill I could understand (most bankruptcy in America is due to medical bills)
Lossing like I just did with my Model 3 Performance, last week my car was worth about 12k more than today. That hurts. I wanted to upgrade to a year or two old model model S but now I cant.
You know who feels bad? Lease companies. they base payment prices on what they anticipate selling the car for at auction when the lease ends. They got hosed. The same math applies to standard car loans. Finance companies look at how much they expect to be able to recover if they are forced to repo a car. Low anticipated future equity equals higher interest, on top of already high interest.
Many people expect further price cuts as new car sales (of any type) face a huge downturn today. See the recent video 'dealers can't sell cars' on the Car Questions Answered channel. He's a used car dealer and has several good videos about how the used car business works.
You seem like a pretty slick dude…I’d be interested in videos about your businesses!
Very well spoken! The price fluctuation on Teslas are the biggest drawback!
I fail to understand - do you think automobiles are investments? I buy a car and drive it until my automotive needs change or the vehicle is unreliable. So my 9-year old Tesla works just fine and I don't care what it's residual value is.
Your car is not even worth 100 K on a great day now, so don’t act like you’re not hurt by it… Especially now that it is a 22 used
First off.......don't speculate in cars, as an investment, unless you are prepared to lose money.
Secondly....... sure as shit, do not use leverage.
The 25 year olds i know who own a Tesla,still live with mommy and daddy At 25 i drove a Toyota and owned my own home Priorities are all screwed up,ya look good kiddo's,but now i;m So Cal mortgage free
Got news for you all manufacturers have same issue. Because of car bubble. You can find 2023 cars at auction and they still can’t sell them.
Since you seem to be familiar with tax perspective please comment on tax credits or lack there of for all models especially model xand plaids Thanks
The entire cost of the Model X can be written off under IRS Section 179; this is true of all vehicles weighing > 6,000 lbs. Like the $7,500 tax credits that everyone is hoping for you, you'll have to have that sort of tax liability. In the case of Section 179, it's geared towards businesses.
I wish the model Y had a 6 seat config
It has a 7 seating option now
@@nikkapubess3349 back seats are torture. ok for 5 year old or less
thats hysterical.
This is not fair for people like me who purchased one last year. I'm very upset, furious, and disappointed how I could lose so much money in a short time. I have also lost faith in the Tesla Brand. I'm considering selling my car and never purchasing a Tesla again. I've made a compliant to customer service and they promised to look into giving owners an incentive. Possibly free enhanced auto pilot to give my car some more value. I strongly advise more owners to complain! The more support, the more serious the company will take it. -Vee from Los Angeles
It's not just a "Tesla" issue, it's ALL car manufacturers! We bought a Ford (not electric) last year and guess what It depreciated A LOT since then. Problem is ALL car manufacturers took advantage of the over inflated economy recently and jacked up car prices, now they are coming down and they are going to go down a lot more before it's over with. Car's are not investments, they loose easily 20% of their value as soon as you drive it off the lot. 1955 economy incoming. Be aware what's going on in the financial world. Don't be mad because you purchased a car in an over inflated economy. It is what it is.
Pretty much every used MYP on Autotrader is more than new.
I have a 2020 model 3 performance which I paid about 65k for used with tax license and registration. I make 70k a year and have a family with a mortgage and everything else. Our plan was to sell my motorcycle to get the extra funds to upgrade to a new Model S. Now I will have to sell the motorcycle and not get the new S to just keep up. Not happy at all and makes me want to sell my Tesla and just continue using my old $2700 2004 Honda Odyssey minivan.
150k p100d is selling for 70k after 3 years. 80k drop in 3 years , you thought model x and s value to hold ? Not sure how You came to that conclusion
Repairability and sustainability are also a massive flaw in purchasing products from companies with anti repair policies like Tesla
Really? My Tesla had a huge repair bill several years ago, and a non-Tesla repair shop fixed it. It was completely repaired and Tesla never touched it. How is it not sustainable? That's Tesla's motto, sustainable transportation.
What about insurance costs no one talks about that.
@@nicholasmuni7995 My insurance costs for my Tesla are based upon it's resale value and my claim history. It's the same as my other cars.
Why keep repeating the same BS. Tesla has opened up the service manual for its cars for a while. What other manufacturers have done that? You cant equate the lack of competent mechanic willing to learn to lack of repair ability
and another big cut on S and X...
Same title as doug demuro?
Probably a coincidence, it is a general title.
So you got caught speculating. Oh well! 😮
Plaid plaid plaid blablabla plaid plaid,getting a headace!Bye
If you feel to need to sell your brand-new car in a year, you either can't afford it or the car is not that good.
Or you love it so much you want to trade up
@@Xeyedjohn That makes zero sense.
@@chaseme9860 Thank you for your feedback. Please let me expound. I feel the need to sell my brand new 2023 M3LR because I love it so much I want to trade up to the MS Plaid. I had did a lot of research on Tesla but until I acutally owned one I was only comfortable investing around 60k to see if I really liked them. And I after having the M3LR for 3 months I am hooked, like I thought I would be. So now I am going for the fastest production car offered on the market. If I lose 5 to 8k resale on the M3 I will get that back on the lower sales price of the Plaid. Fun times! I hope you can understand now.
@@Xeyedjohn Still not making sense. You really didn't love it "so much" if you feel it wasn't adequate. Also, you don't gain $5-8k back on a trade-in loss. You're speaking car dealer sales gimmick language. It's a loss, period.
@@chaseme9860 Hi Chase, thanks for the dialogue. I really do love my M3LR. It's really quick and fun to drive and quite adequate. But I wanted even more once I saw what it was like to own an EV. What I mean about recovering my 5 to 8k loss is that the Model S is down even more than 8k.. So if I would have bought the Model S first I would have I would have paid that much more, but since I didn't I will pay less now for it. 8k more for M3LR, but 12k less for Model S Plaid. I can live with that. Sure, just buying Model S right now I would have not lost at all, but I had to try Tesla first. And I am very happy with their vehicles. What is your favorite vehicle to drive?
Car dealerships won't be buying Tesla cars unless they get them dirt cheap.
They need to get rid of the falcon wing doors on the model x.
Why? Its a selling point to me.
Our family have the 2022 Model X and we're happy about it. Kids are so happy with the Model X!
@Bie's YT Channel we has a model 3 performance and also have a Honda Odyssey minivan. I'd love to replace it with model X.
The issue wasn't him talking about being for free speech. It was his banning of people he doesn't agree with and being a complete hypocrite on the matter.
A lot of people weren't super happy about him going hard republican either.
You are blurred in your video, you are buying all these cars and not leasing for business thats not good. A lot of people are being burnt for when they bought and I think they probably might not buy a Tesla again. Let me tell how I feel about Tesla I own a good amount of stock, I am very particular about the appearance of my cars but I would never buy a Tesla for the styling in and out the thin paint that chips easy as soon as you buy you have to wrap the car in ppf for $ 7000..Not for me!
Tesla sounds like a cell phone company. New promotion* *for new customers only.
I have a 5000$ Toyota Camry cars.I just buy stocks. I do plan to buy a nice ass car one day. But I’m following these 3 rules. Must be in cash I have to be able to buy two of them and it has to be with passive income
You sound like a wise person. Tomorrow is not promised though. Live for today and have no regrets.
@@Xeyedjohn that is the hard part finding a balance but i try to live every week like it’s my last spend time with friends and family. Creating good memories and taking chances but the fact that I don’t have a huge car payment means I go out to dinners events partys clubs or eat healthier foods work less gym more makes dating easier. Remember your good decisions will compound in your favor and your bad decisions will compound against you. You will have loads of fun if your good decisions have compounded in your favor over years each year will be crazier funner wilder easier and more efficient
@@Dividendsmattertoo Thank you for your feedback my friend. I have no doubt you will have your nice ass car one day.
Don't get political please there's too much other stuff you seem to have a unique perspective on right now
Cars are DEPRECIATING assets. Always have been.
Goodbye legacy high breads
Why?Its game over for Tesla!
Oh you silly!Why would you buy a stupid car like this!
Tesla is a safety liability. The drivers are too.
Please never reproduce.
@@ireckon7351 you are an Elon slave.
Ah yes, the safest car with the least chance of getting in a collision is the safety hazard
Elan Musk is a liability at Tesla now.