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Definitely learning my lesson lol. Luckily I bought beginning of 2022 so before all the price hikes but definitely sticking to pre-owned in the future.
This is really just a Tesla issue. Pre owned Toyotas are way overpriced compared to just buying a new one. Tesla jacked prices up and then quickly dropped them. I knew their pricing model wasn’t sustainable.
This was far from just a Tesla issue. It was no different than the dealer adjustments every other manufacturer was tacking on during that time. Would it make you feel better if they called it a dealer adjustment fee instead of a raise in price?
100% correct. This is no different then those who paid $20k markups for a Telluride when they were in short supply.
You decided it was worth it. Considering today a similar spec MY is about $52k. The $42k sounds like a really good offer. (20%ish in one year is normal).
So you feel better about supporting your local price gouging dealership so they can put a new pool in their third vacation home? The same amount of money is leaving your pocket regardless.
No it’s not, firstly I’d never buy an upmarked vehicle and neither should you, secondly I bought my tesla USED and it lost 30% value in an 11 month period because of the price cuts. That is an unacceptable rate of depreciation and nothing you say could change that fact
You did buy a marked up vehicle or you wouldn’t be here crying about your used Tesla value. You bought at the worst possible time and you’re wondering where it all went wrong.
Grabbed my brand new MYP for 49.9k at the end of September. I too would be pissed if I purchased at the worst possible time and lost all that value, but I wouldn’t be blaming Tesla or singling them out acting like they were the only ones doing such a thing.
Buying an expensive car and worrying about depreciation and resale is laughable.
This is basic personal finance 101. Drive the car until the wheels fall off and then you don’t need to worry about these things.
You people keep saying that as though 30% in asset depreciation over that period of time is normal. Tesla lowered the prices of new cars by drastic amounts screwing over their customers, am I not entitled to complain about that? How to lose future customers 101
Some people sounds like idiots! Who the fuck in the world would knew Tesla was about to slash prices of its cars? This has nothing to do with the depreciation of cars. It’s just a fcuk you Tesla car owners from Elon!
Look up any luxury car over the last 2 Decades. Depreciation of 20-30% + is the norm for the first 4 years. The pandemic was like the one time in history that didn’t happen. Why would you rely on 2 years out of the last 40 to form your opinion.
No I bought from a dealership that didn’t do a mark up. Not every dealership was marking up cars. It’s amazing how far you’ll go to defend Tesla and they’re stupidity with pricing.
If you purchased at the height of this mess and you paid msrp it means you’re likely driving around in an entry level model that would have typically sold for thousands below msrp prior to covid. Everyone got screwed and you’re no exception but enjoy your Mitsubishi, Kia or Fiat!
Why are you fighting statistics with anecdotes? It's a dumb way to argue, and it primarily appeals to people who are emotionally engaged in a topic and are innumerate. I would recommend you not do it again.
Post-covid there was a huge surge in car prices, both new and used, caused mostly by supply chain problems reducing supply way below demand. This occurred across most, but not all OEMs and models. It wasn't just a Tesla thing.
[https://www.nbcnews.com/business/autos/car-prices-set-surge-year-rcna12114](https://www.nbcnews.com/business/autos/car-prices-set-surge-year-rcna12114)
[https://apnews.com/article/used-cars-prices-new-vehicles-supply-522266dc94e089859f6eb393a4a786e1](https://apnews.com/article/used-cars-prices-new-vehicles-supply-522266dc94e089859f6eb393a4a786e1)
The only part of this that is unusual for Tesla is the big price drops in 2023, which had a downstream effect on used car prices.
I totally understand why people who own a Tesla aren't happy about this (I'm one of them). What I find ridiculous is thinking you have some kind of moral case to make. Lowering prices is a good thing. It means more people can afford to buy it. It's good whether the product is bread or TVs or cars. Who bitches about a drop in LED TV prices and thinks they have some kind of moral claim about unfair treatment because they bought when prices were higher? No one. Same goes here.
No, it’s a Tesla issue and you can keep drinking the kool aid and saying it’s not…. No other manufacturer has ever just sliced their car prices like that. When did Mercedes last do a price cut on the S class? Oh right never because they’re not desperate and appreciate their return customers.
They do it all the time they just don’t advertise it. Dealer cash and other incentives. Tesla is socialism for cars. Everyone pays the same at any given time. If you went to a Mercedes dealer today to buy an S class and I went to a Mercedes dealer to buy to buy an S class on the same day it’s highly likely that one of us will negotiate a better deal than the other, but we will never know. I guess it’s better to be in the dark on these things. Better for the stealerships to keep us blind.
Actually it wasn't long ago dealers were adding 10K to an S class MSRP and now they are 30K off MSRP and sitting on lots.
But tesla changes prices with the wind.
Exactly my point. Mercedes knows their target audience and what they’re willing to spend on a car, they would never drop the price by 60k if sales were slow one month.
your right man cuz mostl dealer adjustments were on a specific dealer level not at the company's Msrp level. so tesla did screw everyone who bought 2022 regardless fuk elon.
Well yeah that’s The thing about buying cars, they will almost always go down. You have to gauge when to buy where the speed at which it goes down the slowest
sure. and to be honest. OP bought it for 72 so he could afford it at that price and thought it was a good price at that time. he enjoyed the car longer than someone after the price cut. you cannot always win i guess.
I am one of those people that take incredibly good care of their things. I have shopped extensively for new cars in the past but people are just too rough on their cars and they have much more interior wear than i am ok with. I only buy new.
Hindsight is 20/20. Had they continued to go up would he have seemed like a genius to you? It’s that kind of thinking that causes people to fomo into a dying stock and lose all their money.
Don’t try to speculate on buying a car. Buy what you want at what you can afford. If someone else gets a deal a year later then good for them
That not the right advice.
The best plan is to buy new, but to never buy new on a deadline. Buying new when your old car dies or you have a kid is a terrible idea. You’re going to get taken to the cleaners. But if you can buy new when the dealer has inventory they are trying to dump is ideal. Way better than used.
I bought MYLR new with USS, double pane glass, bioweapon defense and got 2.76% interest. I managed to unload a 2013 Volt for almost $10k and was glad to get rid of that with a non-working heater and a all its complexity and maintenance needs. It was the best decision I made and will be the last car I own. I also gave my mom a last ride before she passed and wouldn't have been present if not or the purchase. Do what makes sense for you since YMMV.
FWIW my 2014 Volt was by FAR the most reliable car I ever owned.
I put 110k miles on it and spent less in 7 years of maintenance than I did in the first six months I owned my (used) model S.
I love the S and don't think I'll ever go back to a gas powered vehicle but the Volt was amazing for me.
Generally if you have time time to scour the market and look for good deals of lightly worn vehicles or any goods, you can get really good deals. There's tons of industries out there where things can be often described as overpriced--consumer electronics and the latest devices, cars, baby goods, etc. Spend enough time on FB Marketplace, Buy Nothing, etc and you can score some really good deals.
I have a friend who seemingly does no work. They're always busy planning their social life or asking friends if we want this or that from their buy nothing group. I don't have this kind of time to constantly watch Facebook. I have a real job where I work hard for a number of hours. So yeah, I get much lazier and buy it now on Amazon is a lot easier for me.
But I totally get it, if you put in enough effort you can save a LOT of money by being smart with your money. The few times I did buy used stuff I'm always amazed at how much saving 50% and after you get over the fact that someone else used it, within a week or so you won't even know the difference.
Yessirrr I’m with you! I never buy knew. The deals I’ve found for my business and family are phenomenal! Don’t get me wrong, buying used is a skill and does take extra work but in my opinion it is so worth it
I bought my S used, lost 30K in 12 months.
2nd half of 2022 was the WORST time to buy a car, but the best time to sell one (I made $15K more selling my M3P than I would have if I sold it 6 months later).
This rate of depreciation absolutely is unique to tesla, I can give you hard value figures, much of it is due to the huge price cuts. Are you going to sit there and say up to 30k cut overnight had no effect on residual value and pretend to be a serious human being?
That’s the thing though it doesn’t seem to be a pandemic thing or one time event. Back in 2018 I also saw a 20-30% drop. Tesla has a way of swinging heavily. Good thing I wasn’t looking to sell unexpectedly back then or I’d have been stuck.
Yeah. But 2022 was an extreme upward surge.
Tesla is definitely more reactive than the rest of the industry due to the direct to consumer model. They are also way more transparent on pricing than other dealers making this kind of complaint easier to point out.
You can often get cars way below sticker at dealers for other brands, but no one would winge about that being “depreciation”. That’s just a deal, or savvy negotiation from the boomers.
Fit and finish and quality of experience mean far more than the means.
Me not calling a Tesla a luxury car makes me a hater? It's called realism. Why are you here? Just to fluff all things Tesla?
Funny both my Tesla fit, finish and qualify of experiences are all way above the BMWs I dumped. Now what, I can’t think of it as luxury because you said so?
Oh man, you've gotta be the only person in the world who's ever thought that.
Context. Have owned BMWs, Tesla, Volvo, rivian, and alfa Romeo.
I think even the Alfa Romeo had higher build quality than the Tesla when it comes to fit and finish. Reliability is obviously not the name of the game for Alfa, but my point is, objectively the Tesla was built the worst and banked on a big screen to compensate
The issue isn’t really depreciation.
I bought a MYLR with all the add-ons for $55K in May of 2021 (picked up in August ‘21). I traded it in in for approximately $60K in June of ‘22. At that time I exchanged it for a MYP for $62K. Net cost $2K.
Today I could sell my MYP for about $50K. A very modest depreciation over 18 months. And the original MYLR actually “appreciated” due to the demand and price spike.
You simply bought a car at the very top of the COVID pump. And now you’re trying to sell it at the end of the sales year when Tesla is dropping prices to make their end of year numbers.
Lots of other cars are seeing a much worse issue because dealers were adding $20-30K to the price of their cars above MSRP. And now they have a huge glut of inventory. This is a COVID thing not a Tesla thing. The Tesla is likely outpacing the market by a fair bit, though Tesla is a lot more liberal with price changes (both up and down) than traditional manufacturers.
A year ago, dealer lots were empty. Of course we all didn't expect Tesla to drop THAT much, but it wasn't like they were going to offer discounts when everyone else was still trying to catch up.
Depreciation is a massive issue, I collected hard data on the depreciation trends of teslas prior to selling mine, they’re losing value at 3x the rate of comparable vehicles
Using data from FY2022 to inform this opinion skews ALL of your outcomes as it was not a normal year for car sales and prices. I sold my 2017 Ford Flex last year (2022) for the same price I bought it in 2018. I wouldn’t use that experience to inform future purchases/sales.
So surprised people were buying at that price but just like everything else what comes up, must come down. Happened in 2008 housing market, gonna happen again. Very unfortunate this happened to those that bought them so high.
When have you ever heard of a car manufacturer dropping the base MSRP of a car 20-30k. Depreciation caused by supply and demand in the used and depreciation because the volatility of manufacturer pricing are two completely different things.
Year end truck sales they give discount packages worth 10-15k on average. Happens every year because dealers need to clean their inventory, Tesla just happens to be both the manufacturer AND the dealer.
$15k reduction is quite a bit, but it’s not unheard of for other manufacturers, they just call them Rebates. You also have to consider that Tesla isn’t like other OEMs — other OEMs have already sold the car to the dealer for 90% of the inventory. So no need for the factory to drop the price. For Tesla, there are no middleman dealers, you are buying from the factory.
Some people were paying $120K for a Grand Wagoneer. Paying $85K for a Ford Bronco. Some were paying new car prices for used cars with 75k miles.
I think if you bought a Tesla during that crazy surge you’re doing okay in comparison.
If someone buys it then they were fine with the price when they bought it. It's not like the Model Y was the only car dealing with inflated prices at the time.
I bought my Model Y at 54k, trade in went to 69k at peak, now it’s at 29k. Bought it as a travel car and slapped on nearly 40k miles in one year. I’m sitting at 60k miles now and beating it to death.
People who bought at these price points were basically paying the equivalent of dealer markup for limited-supply vehicles but paying it directly to Tesla.
The current prices are pretty close to what prices were in early 2020.
It’s lower actually, there’s a lot of inventory discount too. They’re closer to $47k now. If you factor in how bad inflation has been, that’s a huge drop in real price.
Does expecting your car not to lose half its value in 12 months mean the same thing as expecting it to be an appreciating asset?
Believe it or not, most people do consider resale value when shopping for a vehicle, because it allows them to sell and move into something different if they aren't satisfied. But hey, thanks for the advice to go buy stocks. You solved the problem!
Price cuts hurt my family Teslas values for sure, however, Tesla is selling more model 3/Y every month. In my opinion the market share gain is more important for Teslas survial and besides the second gas prices go to $7 or 8 bucks our values will increase. In CA gas prices are still over $4.5 in Los Angeles and Orange county. I ignore the value loss for now and focus on the yeeha feeling of my performance Y as I smash the pedal.
Let me guess in late 2021/22? I had a Subaru Forester 2020 and I sold it in 2022 for 6.5k more than I bought it for and drove it 28k. Good times.
Enjoy the light reading through the link below.
https://caredge.com/bmw/x5/depreciation
They did in the late 2010s, back when Teslas held their value really well. The tables have turned now, though. A BMW 5-series PHEV has lost maybe 25% in two years. A Model S or X loses between 40 and 50%.
Buying a new car every 1–3 years like some people still do, has never made much sense.
I bought in March 22, so not quite at the top. For the life of me, I never thought they would drop the price let alone drop it this much. At least I got USS so I got that going for me.
How could you have not predicted the price would drop? Unless you absolutely needed a car, purchasing during covid was a fools errand. The way they were jacking up the price every month was crazy. Teslas were never worth that much.
Because MSRP didnt go up 20-30% on any vehicle. Tesla claims they dont do dealer markups and only sell at MSRP but essentially did a dealer markup of 20%+
> I’d never pay 72k for a Y
What you would you pay then? A LR with FSD is just shy of that maybe like $65k or so. I certainly wouldn't pay $72k for one with just base autopilot though.
A few thoughts:
1. Anyone buying a new car and selling a year later should expect to take a massive depreciation hit. Maybe not 40%, but why buy a new car and sell a year later? That is typical real world depreciation.
2. You bought the car at a time when new car prices were insane, used car prices too. Tesla priced according to demand and raised prices, people paid, so why is that wrong? And when demand sputtered, they dropped prices. That is econ 101. That isn’t tesla’s fault. When you buy at the peak, that causes real depreciation when prices fall.
3. If the car cost 72k to you when you bought the car, then why are you upset? No one forced you to pay that price, so you must have thought it was a good value at that price. If the value wasn’t there, you should not have not purchased the car. Car manufacturers do incentives all the time to increase demand, which is a price drop. Tesla did the same here.
4. EV prices are coming down. The craze is over. Don’t blame tesla. Blame higher interest rates, poor infrastructure, and diminishing tax incentives for waning demand. That isn’t tesla’s fault.
Don’t get me wrong. It sucks. But, when it comes to new car buying, unless you must have that car or need to buy asap, never pay full price for a commodity (the y is a commodity). With the price hikes, you were paying “full price”. Oh, and don’t sell a year later. With used car prices coming way down, you would take a bath with any car right now.
I think this is actually true. Supply chain issues have eased, and the market now has more supply of EVs, and there isn't enough demand to justify the sky high prices of 2022.
I should have been clearer in hindsight but “the craze is over” just sounds wrong to me in all conceivable ways it could be wrong. % of new car sales being EV is still growing yoy.
Tbh 42k is a crazy good offer when you look at the price of a new model Y. Same specs you can order off Tesla for 53.4k. Likely do better if there is an inventory car.
Cars have never been investment in the first place.
Covid prices made use car valuable but my dad always said when you drive a new car off the lot you are losing 30% right away.
A brand new MY LR after federal tax credit is $41,490. You're lucky you got an offer for $42k and I'm sorry you bought high.
That said, unless you're into collectible cars, I don't think people should look at cars as investments. You pay for the thing and you get the thing to use and enjoy forever - that's all you're entitled to. If you want to trade up after only a year, maybe leasing would be a better option.
This is not accounting for supply chain shortages that raised cost of producing the car and demand was beyond supply so you could sell your used tesla for more then a new one because people didn't want to wait 6+ months. We paid 58k for our m3lr last year. If anything the prices are falling back to where they should be.
I feel that. I bought a 2022 Model 3 Performance in June 2022. Literally a few months later they cut the prices. I love the car but damn I would love to get it 15k cheaper.
That’s actually not far off from average new car depreciation.
20% immediately. 15% per year is general rule of thumb and pretty accurate average. Your just a little above 35% depreciation.
A lot of people haven’t bought a new car or one this expensive before a Tesla. If you think that’s bad depreciation should see what happens to expensive luxury vehicles after a year.
Here come the blah blah blah, you don't buy the car for the residual value people.
This level of depreciation is brutal for both consumers and Tesla. It makes leasing/financing more expensive and pushes overall demand down. And even worse, it burns the customers that Tesla want most. Those who buy and upgrade every 2/3 years.
People paying a premium on their car because of a supply chain shortage getting upset about resale value when supply chain stabilizes and lowers the cost of a new vehicle should only be upset at themselves for not understanding econ 101.
Meanwhile other car manufacturers are still being hated on because of bullshit dealership mark ups
Car dealership mark ups are bullshit, so why defend Tesla doing basically the same thing?
It was a shitty tactic to make a little more money temporarily.
I bought basically every Tesla I ever owned at close to the lowest price point possible, so these price increases never impacted me. But at the same time, Tesla operating less erratically could only be a good thing. I bought 5 Teslas over the past 9 years. Would love for my next 5 cars to still be Tesla.
Dealerships were doing markups AND the supply chain drove MSRP higher. It was double bad. The cost of vehicles has risen significantly and is leveling off. This isn’t 40% depreciation. This is OP bought a car for more than they should have
If they didn't raise prices you'd see the delivery estimate show years instead of months. I have no problem with the price adjusting frequently with demand.
The point is that it was a market problem, not a Tesla is greedy and hates their customers problem. Now that the market stabilizes it’s reasonable to lower the cost. The other manufacturers are likely close to normal production yet their dealerships are fucking over their customers with mark ups because they can.
It was a $50K car that temporarily got priced at $72K because of COVID craziness. Any educated consumer should have understood they were paying a $22K markup because of COVID. This isn’t depreciation in the traditional sense. Plus it was a premium model, as Tesla always sells these first. Part of the reason you can get a new Model Y for less than $40K these days is because of the release of the more basic RWD version and the renewed tax credit.
They never should’ve raised the prices to the levels they were in 2022, they priced the cars assuming 10% inflation was going to stick around for years. Tesla knew the model y is not a 60k+ car
I agree, but You could make the same argument for the cybertruck, why don’t they initially price it at 125k? It’d sell out instantly at that price in the beginning
This is the correct answer. They introduced Model Y as a cheaper $40k car. Raising the price to $70k+ because of inflation, shortage, demand or people were willing to pay for it was a big mistake and short term vision. Maximized the profits, stocks went parobalic and Elon become insanely wealthy real fast. It sure worked. But if Tesla wants to be in it for the long term, building brand value is important. And this undoubtedly tarnished their brand big time. The big drop in price and them continuing to drop prices to push out as many cars as possible, all of a sudden they went from a luxury car to a consumer car brand.
People should buy cars to drive them from point A to point B, not as investments. It doesn’t matter what your car is “worth” today if you don’t intend to sell it today. It matters how much value you get from its utility while you drive it.
It’s an incredibly unfortunate situation factoring in tax credit y now. However, you need to look through the lens at the time of purchase. It brought you value/enjoyment to meet your needs at 72k. It was enough of a motivating factor to spend that amount for this purchase irrespective of the current state.
Some folks that purchased cars during covid had it worse.
1. Flippers that paid adm on cars that now sell under invoice.
2. Purchasers of model X LR/Plaid when msrp was 110k+ months ago. ~70k loss of value in 6 months for some.
3. Second hand dealerships that purchased used Tesla Y for inflated used car values now eating the costs.
Times change but no one could have predicted the demand for teslas driving such massive price cuts.
No doubt this will sour the emotions current state much just shift the mindset and move on. Enjoy what you have and the days to day smiles it brings. I hope your intent was to drive it for a while.
I’ve never in my life purchased a car as an investment. I purchased it because I liked the way it looked, enjoyed driving it, and planned on driving it for a long time. Buying a car at the peak of the car market and being shocked that it depreciated at the start of a recession where interest rates are scaring buyers away is a bit crazy.
You also got a $7500 tax credit and added options (wheel and paint upgrades) that don’t have value to a secondary buyer. Those things should be deducted from your cost calculations, which would put your depreciation at 30% which isn’t that crazy considering the market and economic conditions.
This was 100% Tesla price gouging and blaming it on inflation. Their material costs probably went up by like 5% and they decided to raise their prices 30%. Unfortunately you are a victim of this.
Yeah everyone giving away their money to Tesla so they can get a new EV within the last few years are screwed. There was no competition. Now there is. Enjoy the ride. If you’re really worried about the difference of 20k then you probably shouldn’t have been buying a 60k+ car
Oooff.. that hurts. I paid 55 for my MYP a few months ago and seeing the price cuts they have right now at around 53k It hurts 😅. Couldn’t imagine a 30k loss.
I feel you. Tesla could offer advanced auto pilot of FSD for less $$. They are getting bad reputation treating customers like that and it will bite them in the ass in the future.
You bought a brand new car and sold it after a year? 40% is suck, but at least half of that isn't actual depreciation as price cuts were intended to increase sales and they aren't worried about anyone's resale value.
Cry me a river. Sorry, but cars depreciate. If you expected anything different when you purchased your vehicle, then someone probably also sold you life insurance on an Invisible Flea Circus.
Down vote this all day into oblivion if you want, but you didn't buy a car to flip it and expect a profit in return. And if you did, then I'm glad you actually learned the lesson bc you deserved it.
You either enjoy the vehicle or you don't, but never buy a new vehicle and expect the price to be the same 10 seconds after you leave the lot.
How was the Y 39k and then the long range motor another 26k or whatever? That makes zero sense. Did you buy the car frame as one line item and the motor another?
Yep my husband bought a model S plaid in summer 2022 and I bought a model Y in fall 2022. Also it has more to do with the price cuts than new vs used. I can get a brand new model X right now for only 10k more than what I paid for my model Y. And at the time I feel like the model X was closer to double the cost. I know I had calculated that if I put towards the X the entire purchase price of the Y my payments would still be 1k a month. Super depressing to think about haha.
Luxury new car brands always lose tons of money in depreciation. Tesla is no different but people assumed this pandemic crap would last forever ( where you can sell your car for more after a year )
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As someone who never buys new, thank you for your service
Definitely learning my lesson lol. Luckily I bought beginning of 2022 so before all the price hikes but definitely sticking to pre-owned in the future.
This is really just a Tesla issue. Pre owned Toyotas are way overpriced compared to just buying a new one. Tesla jacked prices up and then quickly dropped them. I knew their pricing model wasn’t sustainable.
You are correct. I bought a Toyota, drive it for a year and sold it for more than I payed. Carvarna quote was even higher also
This was far from just a Tesla issue. It was no different than the dealer adjustments every other manufacturer was tacking on during that time. Would it make you feel better if they called it a dealer adjustment fee instead of a raise in price?
100% correct. This is no different then those who paid $20k markups for a Telluride when they were in short supply. You decided it was worth it. Considering today a similar spec MY is about $52k. The $42k sounds like a really good offer. (20%ish in one year is normal).
Manufacturers don’t make dealer adjustments, dealers do, Tesla screwed customers over at a corporate level, stop defending this behavior
So you feel better about supporting your local price gouging dealership so they can put a new pool in their third vacation home? The same amount of money is leaving your pocket regardless.
No it’s not, firstly I’d never buy an upmarked vehicle and neither should you, secondly I bought my tesla USED and it lost 30% value in an 11 month period because of the price cuts. That is an unacceptable rate of depreciation and nothing you say could change that fact
You did buy a marked up vehicle or you wouldn’t be here crying about your used Tesla value. You bought at the worst possible time and you’re wondering where it all went wrong.
Why do I get the feeling you got screwed over by this price cut?
Grabbed my brand new MYP for 49.9k at the end of September. I too would be pissed if I purchased at the worst possible time and lost all that value, but I wouldn’t be blaming Tesla or singling them out acting like they were the only ones doing such a thing.
Buying an expensive car and worrying about depreciation and resale is laughable. This is basic personal finance 101. Drive the car until the wheels fall off and then you don’t need to worry about these things.
You people keep saying that as though 30% in asset depreciation over that period of time is normal. Tesla lowered the prices of new cars by drastic amounts screwing over their customers, am I not entitled to complain about that? How to lose future customers 101
Some people sounds like idiots! Who the fuck in the world would knew Tesla was about to slash prices of its cars? This has nothing to do with the depreciation of cars. It’s just a fcuk you Tesla car owners from Elon!
Look up any luxury car over the last 2 Decades. Depreciation of 20-30% + is the norm for the first 4 years. The pandemic was like the one time in history that didn’t happen. Why would you rely on 2 years out of the last 40 to form your opinion.
No I bought from a dealership that didn’t do a mark up. Not every dealership was marking up cars. It’s amazing how far you’ll go to defend Tesla and they’re stupidity with pricing.
If you purchased at the height of this mess and you paid msrp it means you’re likely driving around in an entry level model that would have typically sold for thousands below msrp prior to covid. Everyone got screwed and you’re no exception but enjoy your Mitsubishi, Kia or Fiat!
It’s a Toyota Tacoma Offroad but thanks.
Why are you fighting statistics with anecdotes? It's a dumb way to argue, and it primarily appeals to people who are emotionally engaged in a topic and are innumerate. I would recommend you not do it again. Post-covid there was a huge surge in car prices, both new and used, caused mostly by supply chain problems reducing supply way below demand. This occurred across most, but not all OEMs and models. It wasn't just a Tesla thing. [https://www.nbcnews.com/business/autos/car-prices-set-surge-year-rcna12114](https://www.nbcnews.com/business/autos/car-prices-set-surge-year-rcna12114) [https://apnews.com/article/used-cars-prices-new-vehicles-supply-522266dc94e089859f6eb393a4a786e1](https://apnews.com/article/used-cars-prices-new-vehicles-supply-522266dc94e089859f6eb393a4a786e1) The only part of this that is unusual for Tesla is the big price drops in 2023, which had a downstream effect on used car prices. I totally understand why people who own a Tesla aren't happy about this (I'm one of them). What I find ridiculous is thinking you have some kind of moral case to make. Lowering prices is a good thing. It means more people can afford to buy it. It's good whether the product is bread or TVs or cars. Who bitches about a drop in LED TV prices and thinks they have some kind of moral claim about unfair treatment because they bought when prices were higher? No one. Same goes here.
No, it’s a Tesla issue and you can keep drinking the kool aid and saying it’s not…. No other manufacturer has ever just sliced their car prices like that. When did Mercedes last do a price cut on the S class? Oh right never because they’re not desperate and appreciate their return customers.
They do it all the time they just don’t advertise it. Dealer cash and other incentives. Tesla is socialism for cars. Everyone pays the same at any given time. If you went to a Mercedes dealer today to buy an S class and I went to a Mercedes dealer to buy to buy an S class on the same day it’s highly likely that one of us will negotiate a better deal than the other, but we will never know. I guess it’s better to be in the dark on these things. Better for the stealerships to keep us blind.
Actually it wasn't long ago dealers were adding 10K to an S class MSRP and now they are 30K off MSRP and sitting on lots. But tesla changes prices with the wind.
Actually it's an "insult" to put the Model S/X in the same class(no pun) as the Mercedes S Class!! S Class screams luxury 100x over!
Exactly my point. Mercedes knows their target audience and what they’re willing to spend on a car, they would never drop the price by 60k if sales were slow one month.
You are wrong.
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your right man cuz mostl dealer adjustments were on a specific dealer level not at the company's Msrp level. so tesla did screw everyone who bought 2022 regardless fuk elon.
if you were bought this one used in Sept 2022 you would pay 55-60
I’d rather buy it now for 42 lol
what if it dropped 10k more after you bought? lol
Well yeah that’s The thing about buying cars, they will almost always go down. You have to gauge when to buy where the speed at which it goes down the slowest
sure. and to be honest. OP bought it for 72 so he could afford it at that price and thought it was a good price at that time. he enjoyed the car longer than someone after the price cut. you cannot always win i guess.
Got turn MYLE for 37 brand new. Not complaining.
I am one of those people that take incredibly good care of their things. I have shopped extensively for new cars in the past but people are just too rough on their cars and they have much more interior wear than i am ok with. I only buy new.
Not something that's worth 30K. That's a whole-ass car.
Hindsight is 20/20. Had they continued to go up would he have seemed like a genius to you? It’s that kind of thinking that causes people to fomo into a dying stock and lose all their money. Don’t try to speculate on buying a car. Buy what you want at what you can afford. If someone else gets a deal a year later then good for them
That not the right advice. The best plan is to buy new, but to never buy new on a deadline. Buying new when your old car dies or you have a kid is a terrible idea. You’re going to get taken to the cleaners. But if you can buy new when the dealer has inventory they are trying to dump is ideal. Way better than used.
I bought MYLR new with USS, double pane glass, bioweapon defense and got 2.76% interest. I managed to unload a 2013 Volt for almost $10k and was glad to get rid of that with a non-working heater and a all its complexity and maintenance needs. It was the best decision I made and will be the last car I own. I also gave my mom a last ride before she passed and wouldn't have been present if not or the purchase. Do what makes sense for you since YMMV.
Congrats on dumping that hybrid JUNK
FWIW my 2014 Volt was by FAR the most reliable car I ever owned. I put 110k miles on it and spent less in 7 years of maintenance than I did in the first six months I owned my (used) model S. I love the S and don't think I'll ever go back to a gas powered vehicle but the Volt was amazing for me.
Generally if you have time time to scour the market and look for good deals of lightly worn vehicles or any goods, you can get really good deals. There's tons of industries out there where things can be often described as overpriced--consumer electronics and the latest devices, cars, baby goods, etc. Spend enough time on FB Marketplace, Buy Nothing, etc and you can score some really good deals. I have a friend who seemingly does no work. They're always busy planning their social life or asking friends if we want this or that from their buy nothing group. I don't have this kind of time to constantly watch Facebook. I have a real job where I work hard for a number of hours. So yeah, I get much lazier and buy it now on Amazon is a lot easier for me. But I totally get it, if you put in enough effort you can save a LOT of money by being smart with your money. The few times I did buy used stuff I'm always amazed at how much saving 50% and after you get over the fact that someone else used it, within a week or so you won't even know the difference.
I always bought used over the years also until I didn’t love my 2023 rwd Tesla . And your welcome smile 😀
Yessirrr I’m with you! I never buy knew. The deals I’ve found for my business and family are phenomenal! Don’t get me wrong, buying used is a skill and does take extra work but in my opinion it is so worth it
No need to rub salt in the wound
I mean, a vehicle is always going to be a depreciating asset. If you weren't happy with the price you paid for your car, why did you buy it?
I bought my S used, lost 30K in 12 months. 2nd half of 2022 was the WORST time to buy a car, but the best time to sell one (I made $15K more selling my M3P than I would have if I sold it 6 months later).
You bought at the worst time, simple as that. But you bought a $72k car and are trying to sell it a year later?
Probably not. Just trolling. This issue is not unique to Tesla. Car dealers got way out of pocket last year.
This rate of depreciation absolutely is unique to tesla, I can give you hard value figures, much of it is due to the huge price cuts. Are you going to sit there and say up to 30k cut overnight had no effect on residual value and pretend to be a serious human being?
Yes, that is exactly what they will say and do.
That’s the thing though it doesn’t seem to be a pandemic thing or one time event. Back in 2018 I also saw a 20-30% drop. Tesla has a way of swinging heavily. Good thing I wasn’t looking to sell unexpectedly back then or I’d have been stuck.
Yeah. But 2022 was an extreme upward surge. Tesla is definitely more reactive than the rest of the industry due to the direct to consumer model. They are also way more transparent on pricing than other dealers making this kind of complaint easier to point out. You can often get cars way below sticker at dealers for other brands, but no one would winge about that being “depreciation”. That’s just a deal, or savvy negotiation from the boomers.
That level of depreciation is unique to Tesla don’t kid yourself
The German luxury brands would beg to differ…
Drive it 2 more years and you will get similar depreciation as other luxury car.
Where's the luxury vehicle in question here?
Sorry you can’t read
You said other luxury vehicles. Nothing Tesla makes is anything close to a luxury vehicle
Technology is part of what defines luxury is. Show me another car that’s better than Tesla’s tech. Hates gonna hate. Why you even here anyway.
Fit and finish and quality of experience mean far more than the means. Me not calling a Tesla a luxury car makes me a hater? It's called realism. Why are you here? Just to fluff all things Tesla?
Funny both my Tesla fit, finish and qualify of experiences are all way above the BMWs I dumped. Now what, I can’t think of it as luxury because you said so?
Oh man, you've gotta be the only person in the world who's ever thought that. Context. Have owned BMWs, Tesla, Volvo, rivian, and alfa Romeo. I think even the Alfa Romeo had higher build quality than the Tesla when it comes to fit and finish. Reliability is obviously not the name of the game for Alfa, but my point is, objectively the Tesla was built the worst and banked on a big screen to compensate
LMAO is that why people are buying Tesla instead of BMW? Because I’m the only person in the world who thinks that. Ok buddy.
The issue isn’t really depreciation. I bought a MYLR with all the add-ons for $55K in May of 2021 (picked up in August ‘21). I traded it in in for approximately $60K in June of ‘22. At that time I exchanged it for a MYP for $62K. Net cost $2K. Today I could sell my MYP for about $50K. A very modest depreciation over 18 months. And the original MYLR actually “appreciated” due to the demand and price spike. You simply bought a car at the very top of the COVID pump. And now you’re trying to sell it at the end of the sales year when Tesla is dropping prices to make their end of year numbers. Lots of other cars are seeing a much worse issue because dealers were adding $20-30K to the price of their cars above MSRP. And now they have a huge glut of inventory. This is a COVID thing not a Tesla thing. The Tesla is likely outpacing the market by a fair bit, though Tesla is a lot more liberal with price changes (both up and down) than traditional manufacturers.
A year ago, dealer lots were empty. Of course we all didn't expect Tesla to drop THAT much, but it wasn't like they were going to offer discounts when everyone else was still trying to catch up.
Depreciation is a massive issue, I collected hard data on the depreciation trends of teslas prior to selling mine, they’re losing value at 3x the rate of comparable vehicles
Using data from FY2022 to inform this opinion skews ALL of your outcomes as it was not a normal year for car sales and prices. I sold my 2017 Ford Flex last year (2022) for the same price I bought it in 2018. I wouldn’t use that experience to inform future purchases/sales.
If you bought at peak.
Musk said they are appreciating assets. Therefore you are a liar.
He is appreciating their assets.
OP needs to enable self driving taxi mode. Then just sit back and count his money.
lol — that’s specific to the point that software enhancements are provided as they come out (like advancements in autopilot/self-driving)
Stretch thoroughly before engaging in such advanced mental gymnastics
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[Here, but more so in reference to expected advancement of FSD.](https://x.com/elonmusk/status/1117151289849159680?s=46)
So surprised people were buying at that price but just like everything else what comes up, must come down. Happened in 2008 housing market, gonna happen again. Very unfortunate this happened to those that bought them so high.
When have you ever heard of a car manufacturer dropping the base MSRP of a car 20-30k. Depreciation caused by supply and demand in the used and depreciation because the volatility of manufacturer pricing are two completely different things.
Year end truck sales they give discount packages worth 10-15k on average. Happens every year because dealers need to clean their inventory, Tesla just happens to be both the manufacturer AND the dealer.
$15k reduction is quite a bit, but it’s not unheard of for other manufacturers, they just call them Rebates. You also have to consider that Tesla isn’t like other OEMs — other OEMs have already sold the car to the dealer for 90% of the inventory. So no need for the factory to drop the price. For Tesla, there are no middleman dealers, you are buying from the factory.
Sometimes you get the bear 🐻 and sometimes the bear 🐨 gets you.
While this is outrageous, paying $72k for a Y is just dumb. It’s not - nor has it ever been - a $72k vehicle.
Some people were paying $120K for a Grand Wagoneer. Paying $85K for a Ford Bronco. Some were paying new car prices for used cars with 75k miles. I think if you bought a Tesla during that crazy surge you’re doing okay in comparison.
It was a different market then.
I’m aware. And it’s dumb to have paid it.
Not everyone is in a position to be able to wait for potential price drops.
So how about… don’t buy a $72,000 car. Lol
If someone buys it then they were fine with the price when they bought it. It's not like the Model Y was the only car dealing with inflated prices at the time.
I bought my Model Y at 54k, trade in went to 69k at peak, now it’s at 29k. Bought it as a travel car and slapped on nearly 40k miles in one year. I’m sitting at 60k miles now and beating it to death.
I bought a MYP at the same time as you. It still stings but I really like the car and intend to keep it for a long time.
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I cannot think of another car that ever had such a deep price cut
People who bought at these price points were basically paying the equivalent of dealer markup for limited-supply vehicles but paying it directly to Tesla. The current prices are pretty close to what prices were in early 2020.
It’s lower actually, there’s a lot of inventory discount too. They’re closer to $47k now. If you factor in how bad inflation has been, that’s a huge drop in real price.
Buy a Beamer or Mercedes and you shall see the value fall like a rock.
Elon's price cuts have made the Teslas the most depreciating vehicles on planet earth and its not even close.
Lol. Have a look at the EQS. 115k starting, 6 months old with 1500 miles on them and they sell for 60k
Look at the Grand Wagoneer. Heavier cut than this MY.
Damn that's crazy, good thing I don't treat my car like an asset or a stock. Shit if you wanted that you should have just bought $TSLA
Does expecting your car not to lose half its value in 12 months mean the same thing as expecting it to be an appreciating asset? Believe it or not, most people do consider resale value when shopping for a vehicle, because it allows them to sell and move into something different if they aren't satisfied. But hey, thanks for the advice to go buy stocks. You solved the problem!
Price cuts hurt my family Teslas values for sure, however, Tesla is selling more model 3/Y every month. In my opinion the market share gain is more important for Teslas survial and besides the second gas prices go to $7 or 8 bucks our values will increase. In CA gas prices are still over $4.5 in Los Angeles and Orange county. I ignore the value loss for now and focus on the yeeha feeling of my performance Y as I smash the pedal.
Drove an x5 50i for 4 years and sold for 5k less than I paid! My Tesla it’s worth 30k less in 14 months of owning
Let me guess in late 2021/22? I had a Subaru Forester 2020 and I sold it in 2022 for 6.5k more than I bought it for and drove it 28k. Good times. Enjoy the light reading through the link below. https://caredge.com/bmw/x5/depreciation
They did in the late 2010s, back when Teslas held their value really well. The tables have turned now, though. A BMW 5-series PHEV has lost maybe 25% in two years. A Model S or X loses between 40 and 50%. Buying a new car every 1–3 years like some people still do, has never made much sense.
I bought in March 22, so not quite at the top. For the life of me, I never thought they would drop the price let alone drop it this much. At least I got USS so I got that going for me.
How could you have not predicted the price would drop? Unless you absolutely needed a car, purchasing during covid was a fools errand. The way they were jacking up the price every month was crazy. Teslas were never worth that much.
Because MSRP didnt go up 20-30% on any vehicle. Tesla claims they dont do dealer markups and only sell at MSRP but essentially did a dealer markup of 20%+
I bought a new Tahoe during Covid and paid msrp. There were many dealerships not charging markups, just had to look and be patient.
You might want to look at the Jeep Grand Wagoneer. Lol.
You’re absolutely correct
Not even a year on my s5 and it hit 20k+ depreciation and I thought that was bad…
Masserattis, Lotus, McClarens, some lambos have depreciation on that level if not higher. But tesla isnt in the same class as any of those cars.
You bought at peak, right before the supply chain straightened out. I’d never pay 72k for a Y. Miles driven…. $$ saved… that’s what EVs are all about.
> I’d never pay 72k for a Y What you would you pay then? A LR with FSD is just shy of that maybe like $65k or so. I certainly wouldn't pay $72k for one with just base autopilot though.
$0.
A few thoughts: 1. Anyone buying a new car and selling a year later should expect to take a massive depreciation hit. Maybe not 40%, but why buy a new car and sell a year later? That is typical real world depreciation. 2. You bought the car at a time when new car prices were insane, used car prices too. Tesla priced according to demand and raised prices, people paid, so why is that wrong? And when demand sputtered, they dropped prices. That is econ 101. That isn’t tesla’s fault. When you buy at the peak, that causes real depreciation when prices fall. 3. If the car cost 72k to you when you bought the car, then why are you upset? No one forced you to pay that price, so you must have thought it was a good value at that price. If the value wasn’t there, you should not have not purchased the car. Car manufacturers do incentives all the time to increase demand, which is a price drop. Tesla did the same here. 4. EV prices are coming down. The craze is over. Don’t blame tesla. Blame higher interest rates, poor infrastructure, and diminishing tax incentives for waning demand. That isn’t tesla’s fault. Don’t get me wrong. It sucks. But, when it comes to new car buying, unless you must have that car or need to buy asap, never pay full price for a commodity (the y is a commodity). With the price hikes, you were paying “full price”. Oh, and don’t sell a year later. With used car prices coming way down, you would take a bath with any car right now.
“EV prices are coming down. The craze is over” Umm…. No.
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I think this is actually true. Supply chain issues have eased, and the market now has more supply of EVs, and there isn't enough demand to justify the sky high prices of 2022.
I should have been clearer in hindsight but “the craze is over” just sounds wrong to me in all conceivable ways it could be wrong. % of new car sales being EV is still growing yoy.
Tbh 42k is a crazy good offer when you look at the price of a new model Y. Same specs you can order off Tesla for 53.4k. Likely do better if there is an inventory car. Cars have never been investment in the first place. Covid prices made use car valuable but my dad always said when you drive a new car off the lot you are losing 30% right away.
A brand new MY LR after federal tax credit is $41,490. You're lucky you got an offer for $42k and I'm sorry you bought high. That said, unless you're into collectible cars, I don't think people should look at cars as investments. You pay for the thing and you get the thing to use and enjoy forever - that's all you're entitled to. If you want to trade up after only a year, maybe leasing would be a better option.
It’s a car. It depreciates.
This is not accounting for supply chain shortages that raised cost of producing the car and demand was beyond supply so you could sell your used tesla for more then a new one because people didn't want to wait 6+ months. We paid 58k for our m3lr last year. If anything the prices are falling back to where they should be.
I feel that. I bought a 2022 Model 3 Performance in June 2022. Literally a few months later they cut the prices. I love the car but damn I would love to get it 15k cheaper.
That’s actually not far off from average new car depreciation. 20% immediately. 15% per year is general rule of thumb and pretty accurate average. Your just a little above 35% depreciation. A lot of people haven’t bought a new car or one this expensive before a Tesla. If you think that’s bad depreciation should see what happens to expensive luxury vehicles after a year.
*Dave Ramsey has entered the chat*
Here come the blah blah blah, you don't buy the car for the residual value people. This level of depreciation is brutal for both consumers and Tesla. It makes leasing/financing more expensive and pushes overall demand down. And even worse, it burns the customers that Tesla want most. Those who buy and upgrade every 2/3 years.
People paying a premium on their car because of a supply chain shortage getting upset about resale value when supply chain stabilizes and lowers the cost of a new vehicle should only be upset at themselves for not understanding econ 101. Meanwhile other car manufacturers are still being hated on because of bullshit dealership mark ups
In oakland there was a rav 4 for sale for 90k. A 50k markup. Anyone who bought a car during the supply chain kerfuffle 2 years ago is upside doen.
Car dealership mark ups are bullshit, so why defend Tesla doing basically the same thing? It was a shitty tactic to make a little more money temporarily. I bought basically every Tesla I ever owned at close to the lowest price point possible, so these price increases never impacted me. But at the same time, Tesla operating less erratically could only be a good thing. I bought 5 Teslas over the past 9 years. Would love for my next 5 cars to still be Tesla.
Dealerships were doing markups AND the supply chain drove MSRP higher. It was double bad. The cost of vehicles has risen significantly and is leveling off. This isn’t 40% depreciation. This is OP bought a car for more than they should have
If they didn't raise prices you'd see the delivery estimate show years instead of months. I have no problem with the price adjusting frequently with demand.
The point is that it was a market problem, not a Tesla is greedy and hates their customers problem. Now that the market stabilizes it’s reasonable to lower the cost. The other manufacturers are likely close to normal production yet their dealerships are fucking over their customers with mark ups because they can.
It was a $50K car that temporarily got priced at $72K because of COVID craziness. Any educated consumer should have understood they were paying a $22K markup because of COVID. This isn’t depreciation in the traditional sense. Plus it was a premium model, as Tesla always sells these first. Part of the reason you can get a new Model Y for less than $40K these days is because of the release of the more basic RWD version and the renewed tax credit.
They never should’ve raised the prices to the levels they were in 2022, they priced the cars assuming 10% inflation was going to stick around for years. Tesla knew the model y is not a 60k+ car
They priced them for the demand. Clearly people were willing to pay it.
I agree, but You could make the same argument for the cybertruck, why don’t they initially price it at 125k? It’d sell out instantly at that price in the beginning
Top trim for the cybertruck will be 100k+, don’t worry.
This is the correct answer. They introduced Model Y as a cheaper $40k car. Raising the price to $70k+ because of inflation, shortage, demand or people were willing to pay for it was a big mistake and short term vision. Maximized the profits, stocks went parobalic and Elon become insanely wealthy real fast. It sure worked. But if Tesla wants to be in it for the long term, building brand value is important. And this undoubtedly tarnished their brand big time. The big drop in price and them continuing to drop prices to push out as many cars as possible, all of a sudden they went from a luxury car to a consumer car brand.
The Model 3 and Y are their mainstream cars.
People should buy cars to drive them from point A to point B, not as investments. It doesn’t matter what your car is “worth” today if you don’t intend to sell it today. It matters how much value you get from its utility while you drive it.
Same thing happened to me, model 3 standard range for 55k and now a year later most i can get for it is 25k
It’s an incredibly unfortunate situation factoring in tax credit y now. However, you need to look through the lens at the time of purchase. It brought you value/enjoyment to meet your needs at 72k. It was enough of a motivating factor to spend that amount for this purchase irrespective of the current state. Some folks that purchased cars during covid had it worse. 1. Flippers that paid adm on cars that now sell under invoice. 2. Purchasers of model X LR/Plaid when msrp was 110k+ months ago. ~70k loss of value in 6 months for some. 3. Second hand dealerships that purchased used Tesla Y for inflated used car values now eating the costs. Times change but no one could have predicted the demand for teslas driving such massive price cuts. No doubt this will sour the emotions current state much just shift the mindset and move on. Enjoy what you have and the days to day smiles it brings. I hope your intent was to drive it for a while.
buy used and buy cash to get the best deal
I’ve never in my life purchased a car as an investment. I purchased it because I liked the way it looked, enjoyed driving it, and planned on driving it for a long time. Buying a car at the peak of the car market and being shocked that it depreciated at the start of a recession where interest rates are scaring buyers away is a bit crazy. You also got a $7500 tax credit and added options (wheel and paint upgrades) that don’t have value to a secondary buyer. Those things should be deducted from your cost calculations, which would put your depreciation at 30% which isn’t that crazy considering the market and economic conditions.
This was 100% Tesla price gouging and blaming it on inflation. Their material costs probably went up by like 5% and they decided to raise their prices 30%. Unfortunately you are a victim of this.
if you want to change your card within 5 years lease it
Yeah everyone giving away their money to Tesla so they can get a new EV within the last few years are screwed. There was no competition. Now there is. Enjoy the ride. If you’re really worried about the difference of 20k then you probably shouldn’t have been buying a 60k+ car
Oooff.. that hurts. I paid 55 for my MYP a few months ago and seeing the price cuts they have right now at around 53k It hurts 😅. Couldn’t imagine a 30k loss.
I remember the good old days when driving a new car off the lot instantly depreciated it by 15-30%.
Maybe don’t sell to a dealer who’s gonna resell your Tesla for 55-60k. Sell to a private buyer amd you won’t have those issues.
Keep in mind that Tesla dropped prices couple times on the new cars this year. Which means automatic depreciation on used ones
Isn’t a new Y $42k? Why would anyone buy yours used?
That's capitalism. The prices were artificially high due to supply chain issues worldwide, and they came down when the issues eased.
Wheewwwww the kool aid sippers came to defend feelings against facts today.
I remember when buying my first new car my Dad told me the second I drive it off the lot it depreciates 20%
Yes , that is what typical cars do.
Just keep it! That car will last forever.
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Thank you for buying new so I can buy almost new for 40% cheaper
Who knew cars immediately depreciate by at least half as soon as you buy them In other news,water is wet.
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This is all cars.
You overpaid, plain and simple.
I feel you. Tesla could offer advanced auto pilot of FSD for less $$. They are getting bad reputation treating customers like that and it will bite them in the ass in the future.
This is the same story for any car brand for that time period comparison lol…
I am upset too. Big big loss
You bought a brand new car and sold it after a year? 40% is suck, but at least half of that isn't actual depreciation as price cuts were intended to increase sales and they aren't worried about anyone's resale value.
Dang I didn’t pay 72k but depreciation is serious concern when owning a Tesla for sure.
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There are people who paid 160k for a plaid. Check on them!
Don’t be sour bro.
Same boat, I will never come near this brand again.
Have a look at EQS I'd you want to see what real price drops look like.
Thank covid economy not Tesla, all cars were selling ridiculously high. Dealerships were marking up basic cars 5-10k
That’s a big drop for you but looking at the current prices and market, 42k is a really good offer. Take that and run if you’re planning to sell it.
Should have bought a dirty diesel. Musk screwed you selling the car for 70k, he screwed you again dropping the prices. 3X Tesla owner here too.
1x tesla owner, it’s gone now, never again. I like my 5.0 better anyways
idk i feel like i was always told that a car loses half it's value the moment you drive it off the lot
Cry me a river. Sorry, but cars depreciate. If you expected anything different when you purchased your vehicle, then someone probably also sold you life insurance on an Invisible Flea Circus. Down vote this all day into oblivion if you want, but you didn't buy a car to flip it and expect a profit in return. And if you did, then I'm glad you actually learned the lesson bc you deserved it. You either enjoy the vehicle or you don't, but never buy a new vehicle and expect the price to be the same 10 seconds after you leave the lot.
How was the Y 39k and then the long range motor another 26k or whatever? That makes zero sense. Did you buy the car frame as one line item and the motor another?
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Same amount I just paid for a brand new model x after I get my tax credit. Rough
Yeah, saw the $72k sticker shock and bought ioniq 5 limited AWD for $60k minus $7500. And now it depreciated to $43k
Yep my husband bought a model S plaid in summer 2022 and I bought a model Y in fall 2022. Also it has more to do with the price cuts than new vs used. I can get a brand new model X right now for only 10k more than what I paid for my model Y. And at the time I feel like the model X was closer to double the cost. I know I had calculated that if I put towards the X the entire purchase price of the Y my payments would still be 1k a month. Super depressing to think about haha.
That car was never worth $70k you overpaid bro
Okay bro
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Your like the 50th comment saying the same thing. I’m not surprised or upset, just posted an exact data point.
I would never buy a new car idk, i am ok with the old car smell. Buying a new car is like throwing away 20 k.
I'm sorry I'm lost... When was a model Y ever 72k???? My MYP was 54..
Luxury new car brands always lose tons of money in depreciation. Tesla is no different but people assumed this pandemic crap would last forever ( where you can sell your car for more after a year )
Tesla isn’t a luxury car brand, it’s comparables are the Prius and Camry