Resale Value change

[RickLightning]

Carvana

July 31st - $41,800
Dec 21st - $38,400
800 miles more

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[flyct]

Carvana

July 31st - $41,800
Dec 21st - $38,400
800 miles more

While the depreciation is more that you would normally expect it’s not really THAT outrageous. It’s $680/mo depreciation. One would expect to pay that monthly when Leasing a new $60k vehicle with no money down.

 

[RickLightning]

I'm surprised it didn't drop more.

But your math makes assumptions that are inaccurate. Purchased May of 2023, so 31 months. More like $1,300 per month depreciation...

That said, I'm pretty confident I could sell it privately for mid 40s. Given that I paid near $80 that's not happening...

 

[flyct]

I'm surprised it didn't drop more.

But your math makes assumptions that are inaccurate. Purchased May of 2023, so 31 months. More like $1,300 per month depreciation...

That said, I'm pretty confident I could sell it privately for mid 40s. Given that I paid near $80 that's not happening...

My current 2024 is my 72nd new vehicle purchase since 1970 so I have a few experiences with depreciation .i made out best by special ordering F-450’s with X-Plan pricing. I would sell or trade them in them for $3k-$10k more then they cost me 6-12 months after purchasing them.

You bought your Lightning when prices were high. I bought a 2023 Loaded Lariat Lightning ER for $64k after Discounts, rebates, incentives and tax credit in October 2023. About 18 months later I got my current 2024 Platinum with a MSRP of $91k with $25k off MSRP.

I did take a beating with my 2023 Teslas when I traded them in on my 2026 Teslas.

You very rarely win some and lose many more.

 

[Garyl]

My current 2024 is my 72nd new vehicle purchase since 1970 so I have a few experiences with depreciation .i made out best by special ordering F-450’s with X-Plan pricing. I would sell or trade them in them for $3k-$10k more then they cost me 6-12 months after purchasing them.

You bought your Lightning when prices were high. I bought a 2023 Loaded Lariat Lightning ER for $64k after Discounts, rebates, incentives and tax credit in October 2023. About 18 months later I got my current 2024 Platinum with a MSRP of $91k with $25k off MSRP.

I did take a beating with my 2023 Teslas when I traded them in on my 2026 Teslas.

You very rarely win some and lose many more.

What's your thoughts on the 2026 Model Y?

 

[flyct]

What's your thoughts on the 2026 Model Y?

We have 2 of the 2026 Model Y’s. Both were purchased just prior to the tax credit being eliminated. Today they would cost $7,500 more with no tax credit.

i highly recommend them. Tesla has a free demo drive offer if you want to try one. Book the demo online. If you want to buy one send me a PM and I’ll send you referral link that currently gives 3 months of Full Self Driving.

Wife’s is a Premium AWD and mine is a Premium RWD With 357 miles range.

They are amazing cars.
They handle like a sports car but 2026s ride much better than the previous models
Twice as efficient as the Lightning.
Very comfortable seats
Tech is awesome.
App is light years ahead of Ford
Phone as a Key works perfect with iPhones OR Apple Watch.
Key is a credit format that I keep in my Wallet as backup. Card can be paired to multiple cars

 

[SmoothJ]

We have 2 of the 2026 Model Y’s. Both were purchased just prior to the tax credit being eliminated. Today they would cost $7,500 more with no tax credit.

i highly recommend them. Tesla has a free demo drive offer if you want to try one. Book the demo online. If you want to buy one send me a PM and I’ll send you referral link that currently gives 3 months of Full Self Driving.

Wife’s is a Premium AWD and mine is a Premium RWD With 357 miles range.

They are amazing cars.
They handle like a sports car but 2026s ride much better than the previous models
Twice as efficient as the Lightning.
Very comfortable seats
Tech is awesome.
App is light years ahead of Ford
Phone as a Key works perfect with iPhones OR Apple Watch.
Key is a credit format that I keep in my Wallet as backup. Card can be paired to multiple cars

Not going to lie, but I have been considering a Tesla as of late. We ended up getting a Chevy Equinox RS EV (from a 2020 Bolt LT) due to the hate of DOGE at that time.

The main problem for me though is what the original OP stated about the resale value. I haven't tracked it, and for 3 years I guess I shouldn't have expected something positive. However I am seriously in the hole (well over 20K). Regardless, I will be needing to do something sooner rather than later due to my employment situation that is going to happen soon.

 

[ZeusDriver]

Re depreciation:
I am something of a fan of the manufacturer's certified preowned programs. Generally full warranty, new tires and LV batteries, etc. My 36.000 Lightning had 10,000 miles, and shows no sign of being any different than a brand new vehicle. I've had it for almost a yearm

However, I've bought a bunch of new cars too. A 2024 Tesla MYLR was one such, and I could only keep it a year before finding it completely unserviceable. Tesla was never able to make the rain-sensing wipers work, and never made FSD work safely (despite promises from Musk every year for a decade to have it working [across the country with not supervision or intervention] by the "end of the year" ... each year ad nauseum. The deal breaker for me was the fact that suspension members were falling off Teslas, something I had not experienced from any other brand -- not even Fiat.)

Took a beating trading the Tesla on the Lightning.

 

[flyct]

Not going to lie, but I have been considering a Tesla as of late. We ended up getting a Chevy Equinox RS EV (from a 2020 Bolt LT) due to the hate of DOGE at that time.

The main problem for me though is what the original OP stated about the resale value. I haven't tracked it, and for 3 years I guess I shouldn't have expected something positive. However I am seriously in the hole (well over 20K). Regardless, I will be needing to do something sooner rather than later due to my employment situation that is going to happen soon.

I understand. With all the DOGE stuff going on I had to hold my nose when I got the 2026 Tesla's earlier this year. My friend even put tape on the Tesla logo on his Tesla Wall Connector so his partner couldn’t see it and complain to him.

When Teslas were being keyed and burned up my wife was nervous. Only one time did a Super Duty Diesel truck pass me with the driver giving me a 1 finger salute After he passed he got I front of me with his deleted diesel and “rolled coal” where I couldn’t see in front of me. Very immature. This was in a rural town where it takes at least 12 people to make a full set of teeth.

 

[luebri]

When Teslas were being keyed and burned up my wife was nervous. Only one time did a Super Duty Diesel truck pass me with the driver giving me a 1 finger salute After he passed he got I front of me with his deleted diesel and “rolled coal” where I couldn’t see in front of me. Very immature.

Interesting to comment on the immature nature of a agreed stupid but mostly juvenile act of “rolling coal” but not deride the completely despicable and serious crime of blatant vandalism

 

[flyct]

Interesting to comment on the immature nature of a agreed stupid but mostly juvenile act of “rolling coal” but not deride the completely despicable and serious crime of blatant vandalism

I didn’t intend to minimize the vandalism, political or otherwise. While I support the right to peacefully protest I believe that those who cross the line and vandalize or loot should be punished to the fullest extent of the law. They should be brought to justice and if found guilty they should go to jail and serve their full sentence.

 

[luebri]

I didn’t intend to minimize the vandalism, political or otherwise. While I support the right to peacefully protest I believe that those who cross the line and vandalize or loot should be punished to the fullest extent of the law. They should be brought to justice and if found guilty they should go to jail and serve their full sentence.

I’m sure it wasn’t intentional, but it’s an ironic observation I felt should be pointed out… during peak temper tantrum a few months back that is something I thought about. How many of the same people that got upset about coal rolling, ended up being the same people that minimized blatant acts of vandalism which on the scale of severity are dramatically different acts

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