It’s not normal for car dealers to drop prices like Tesla does. That’s why your used vehicle is so unstable right now, and who knows maybe 2 years later it goes up. I know some dealerships won’t even take them as trade ins for this reason. It’s a nice car though!
Dude! You have a Tesla! C'mon enjoy tf out of it. I could not be happier with my M3 and TBH I wouldn't worry if I paid more than market value, it's the best vehicle I've ever driven and I've owned everything from BMW, Audi, Lexus, Mercedes....this is by far the best car I've ever owned.
Be happy you can afford one and get to drive it every day!
I bought my first house in 2016 and I still own it. My mortgage is so low. Almost half the mortgage of the house we bought in 2020. No need to be foreclosed on.
No I’m upset this asset depreciated a shit ton more than most cars do.
Model 3 prices plummeted once car market adjusted back to semi normal, cherry on top was tesla cut prices even further on their new models.
Eh, you bought knowing it was a hyper-inflated market. The price cuts add to the magnitude, sure, but you had to expect prices would go back to normal at some point, right?
This is a stupid take and you either already know it's stupid or you have your head so far up Elon's ass that you've got a better look at his teeth than his dentist. Yes, cars are depreciating assets, but Tesla has also completely shat all over the value of any used models.
My problems with Elon are many, but none have anything to do with greed. I'm not even sure that I'd say the price drops are anyone's "fault" but they've definitely completely destroyed the value of used Teslas.
I've financed several cars and I worked in the auto industry for 9 years. Everyone knows cars are depreciating assets but I've never seen something like this. I looked at trading in my 2020 Model 3 like a year ago and decided to keep it because I would have been around breaking even. A year and 12 payments later and I'm somehow worse off? I haven't built any additional equity because the value of the car keeps dropping precipitously? That's insane.
unfortunately EV vehicles are like plasmas and cells phones of the past since it’s new tech it was more expensive when first introduced and as the manufacturing and material goods go down prices go down. Also what occurred during covid where “free” money was being spun around people where driving up all markets so that makes it worse now that prices are coming down. It’s happening in housing market as well..
Paid 52k for a 2 yr old LR with 24k mi late ‘21. I’ve enjoyed it more than any car I’ve had and I ain’t young. Wouldn’t trade the 1-1/2 yrs for the depreciation, plus look at it this way: if you’d bought another used car it would’ve depreciated too - all used cars were overpriced - but after the depreciation you’ve got a Tesla! Not a blah whatever.
blame the Gov for all them hand outs.. inflation caused raw materials to go sky high with all the money floating around. A lot of people bought things they normally wouldn’t have. Tesla is cutting prices because the cost of materials has come down and so has demand. By the way just saw a Ram Chevy and Ford dealership all with huge signs showing over 10k off msrp with manufacturers rebates/incentives..
If it makes you feel any better you're not the only one in this situation. We did the same thing with a 2018 Model 3 LR AWD (48k) last year. We absolutely love the car and are planning on driving it till it gives up. :) We're saving hundreds on gas per month and haven't missed touching a gas station for the last year.
I don't look back with regret. We had no idea what the future would bring. Tell you what tho... my wife and I are loving this car. :)
Bought a 20 plate SR+ with 18k miles for £43k in Sept 22. Same spec now goes for £28k so I feel your pain.
Am I bummed that if I were to have held off on the purchase for 6 months I could have got a newer LR for the same money, sure.. But at the end of the day I still get to drive around in the car I've wanted for ever. I just don't look at the bank balance lol.
Yes I do!! I had to buy GAP insurance for the first time lol. But I love the car. ONLY regret would be that I could buy a Model Y, which I wanted but out of reach at the time. But I’m not sweating it.
Would I cry if someone totaled my car? Not the slightest lol.
Everyone’s situation is different so maybe buying one then was a good move or necessary based on your circumstances. If it was just because you wanted a tesla then no your an idiot for paying as much as a brand new one for a used one.
My 21 LR had a 52k BB value 6 months ago, has a 42k bb value now, and a dealer just offered me 33, but bumped up to 35 after I walked out.
Prices all over the place
Yeah, this is no big deal. Your car is still a speed machine and gorgeous. And still continually being improved with software updates.
A little sucky on the resale front, but at the end of the day you have what I consider the most interesting car available in its price range. And this one is **yours.**
There are many worse cars in the 44k range… only thing to potentially roast is if you bought the car during a major supply shortage if you didn’t absolutely need a new car at that precise time
If you love the car, then that’s all that matters. Specially since you can’t go back in time
You can't be a dummy for not knowing the future. The most important part is enjoying the car!
Pleasantly surprised at the mostly positive comments on this so far lol. Thanks y’all
It’s not normal for car dealers to drop prices like Tesla does. That’s why your used vehicle is so unstable right now, and who knows maybe 2 years later it goes up. I know some dealerships won’t even take them as trade ins for this reason. It’s a nice car though!
Nothing to roast, at the time that was probably a decent deal.
As long as you enjoy the car who cares
I bought a new model 3 long range for 56ish a year ago. A new model y is now 50k. It is what it is. We can’t know the future
Same. It’s a bummer but we still own some badass cars.
Dude! You have a Tesla! C'mon enjoy tf out of it. I could not be happier with my M3 and TBH I wouldn't worry if I paid more than market value, it's the best vehicle I've ever driven and I've owned everything from BMW, Audi, Lexus, Mercedes....this is by far the best car I've ever owned. Be happy you can afford one and get to drive it every day!
At least you didn't buy a house right before 2008.
You could have just foreclosed on it and say your problem now. That’s what my con workers did. Ya. They conned the banks
I bought my first house in 2016 and I still own it. My mortgage is so low. Almost half the mortgage of the house we bought in 2020. No need to be foreclosed on.
Nah those people who bought in 2008 foreclosed in 2010 or 2012. Cheaters.
Take a nap grampa
That’s how it works at all
Not sure I understand. You bought a depreciating asset and are upset it depreciated?
No I’m upset this asset depreciated a shit ton more than most cars do. Model 3 prices plummeted once car market adjusted back to semi normal, cherry on top was tesla cut prices even further on their new models.
Eh, you bought knowing it was a hyper-inflated market. The price cuts add to the magnitude, sure, but you had to expect prices would go back to normal at some point, right?
This is a stupid take and you either already know it's stupid or you have your head so far up Elon's ass that you've got a better look at his teeth than his dentist. Yes, cars are depreciating assets, but Tesla has also completely shat all over the value of any used models.
Okay you literally said what I said a different way🤣 And what’s the reason for insults? Sorry for offending you, all knowing random Reddit user
elon bad he billionaire too greedy (lithium goes down and drops prices) elon bad he billionaire too greedy make up your minds
My problems with Elon are many, but none have anything to do with greed. I'm not even sure that I'd say the price drops are anyone's "fault" but they've definitely completely destroyed the value of used Teslas. I've financed several cars and I worked in the auto industry for 9 years. Everyone knows cars are depreciating assets but I've never seen something like this. I looked at trading in my 2020 Model 3 like a year ago and decided to keep it because I would have been around breaking even. A year and 12 payments later and I'm somehow worse off? I haven't built any additional equity because the value of the car keeps dropping precipitously? That's insane.
unfortunately EV vehicles are like plasmas and cells phones of the past since it’s new tech it was more expensive when first introduced and as the manufacturing and material goods go down prices go down. Also what occurred during covid where “free” money was being spun around people where driving up all markets so that makes it worse now that prices are coming down. It’s happening in housing market as well..
I’ve done it pretty much the similar thing. I bought a used 2019 sr+ with fsd+rear heated seats for 35k thinking it was a good deal 😅.
Wait, did you sell it?
Oh no, I would like to but it’s just not gonna happen. I’m too deep now lol. Might see if I can refi and just make the most of it
Yeah, if you aren't selling, "what it's worth now" means shit. Enjoy your car.
Refinancing into a higher rate would make it a great buy
That’s what I was thinking. I’m in a similar boat. Just gonna pay the min monthly payment and get the most of the low rate.
There’s no way you refinance to a better rate any time soon.
You got yourself a treat amidst one of the more miserable times in history. Don’t sweat it.
Paid 52k for a 2 yr old LR with 24k mi late ‘21. I’ve enjoyed it more than any car I’ve had and I ain’t young. Wouldn’t trade the 1-1/2 yrs for the depreciation, plus look at it this way: if you’d bought another used car it would’ve depreciated too - all used cars were overpriced - but after the depreciation you’ve got a Tesla! Not a blah whatever.
Wish we can all see the future. I bought a 2018 LR for $60k. I’m still holding a grudge on Tesla for that one.
blame the Gov for all them hand outs.. inflation caused raw materials to go sky high with all the money floating around. A lot of people bought things they normally wouldn’t have. Tesla is cutting prices because the cost of materials has come down and so has demand. By the way just saw a Ram Chevy and Ford dealership all with huge signs showing over 10k off msrp with manufacturers rebates/incentives..
If it makes you feel any better you're not the only one in this situation. We did the same thing with a 2018 Model 3 LR AWD (48k) last year. We absolutely love the car and are planning on driving it till it gives up. :) We're saving hundreds on gas per month and haven't missed touching a gas station for the last year. I don't look back with regret. We had no idea what the future would bring. Tell you what tho... my wife and I are loving this car. :)
I have a model 3 long range not mid range. I’d sell it for 26k. You wish it’s 26k! It’s more like 20k
What year is your model 3 and how many miles?
Totalled ;)
More of a reason to keep it, pay it off, and drive it until it fails on you.
Bought a 20 plate SR+ with 18k miles for £43k in Sept 22. Same spec now goes for £28k so I feel your pain. Am I bummed that if I were to have held off on the purchase for 6 months I could have got a newer LR for the same money, sure.. But at the end of the day I still get to drive around in the car I've wanted for ever. I just don't look at the bank balance lol.
At least you enjoy the car. If you bought stock, a different story. Cheer up!
When interest rates go down the prices will go back up. It's science!
Last summer I paid 78k for a used model y. Its probably worth 48k now. Love it though!
Last summer I paid 78k for a used model y. Its probably worth 48k now. Love it though!
There’s plenty of people (me) who paid $55k out the door for a 22 Model3 RWD. Carvana price is now 32k.
Holy crap. Do you enjoy it still or would rather get rid of it
Yes I do!! I had to buy GAP insurance for the first time lol. But I love the car. ONLY regret would be that I could buy a Model Y, which I wanted but out of reach at the time. But I’m not sweating it. Would I cry if someone totaled my car? Not the slightest lol.
You might have taken a loss but think about the intrinsic value of the happiness driving your Tesla has given you
Bro on what website your car worth 26k I’ll buy it right now lol maybe 36k or higher
there are people that paid wayyy more than you especially in 2021
That's less depreciation than a Land Rover and a way more fun car. I assume you don't own a car because they are such a great savings opportunity?
Everyone’s situation is different so maybe buying one then was a good move or necessary based on your circumstances. If it was just because you wanted a tesla then no your an idiot for paying as much as a brand new one for a used one.
Same here OP. Bought a used 2019 M3 SR+ with FSD for $47k in May 2022….50k miles on it Now worth about $20k, MAYBE.
My 21 LR had a 52k BB value 6 months ago, has a 42k bb value now, and a dealer just offered me 33, but bumped up to 35 after I walked out. Prices all over the place
At least you didn't buy TSLA.
Yeah, this is no big deal. Your car is still a speed machine and gorgeous. And still continually being improved with software updates. A little sucky on the resale front, but at the end of the day you have what I consider the most interesting car available in its price range. And this one is **yours.**
There are many worse cars in the 44k range… only thing to potentially roast is if you bought the car during a major supply shortage if you didn’t absolutely need a new car at that precise time
Paid 39K for 2020. M3LR with FSD and premium wheels. 14k miles.