We Lost a HUGE Amount of Money Selling Our Tesla Model 3...Here's How Much!

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[chrisran]

I'm never going to complain about a manufacturer lowering their prices.

[kevinpolito]

The only way to get your money's worth out of a car is to keep it forever and drive it into the ground. Looking at a car as an "investment" is like looking at food as an "investment." An automotive review channel is nothing like a typical car customer.

[mluu]

Don't sell common cars. It's a utility, not an investment

[RDJSS]

Just got a 2022 model 3 long range from Hertz for $20k

[Streeknine]

I bought a Red 2022 Model Y Performance that was originally $71, 000 on the sticker. I picked it up for $40k. They sold it because they couldn't make the payments anymore.
The previous owner took excellent care of it. It's the perfect year, still has Parking sensors, Ryzen chip, 16v lith-ion battery and Stalks and the 3.5 seconds to 60mph never gets old.

[ferkdizzle]

TFL, if you don’t get your Cyber Truck in 2 months, I’d cancel the order. The internet is saturated with Cyber Truck videos as this point.

[jcreeker]

Recent study's have shown that 95% of the Tesla sold are still on the road. The other 5% made it home.

[MrStars]

The reason If you have a Tesla, KEEP IT for as long as you can for transportation purposes, and NOT as an investment. People who change cars every Three years should lease their vehicles

[mowcowbell]

Hertz selling off their Tesla fleet probably didn't help. The local Hertz used car center in OKC is selling '23 Model 3 Base models with under 20K miles for $28K.

[OweEyeSea]

The biggest surprise is that you seem surprised. You bought a vehicle when the entire car market was still ridiculously elevated. You chose a vehicle that was in high demand at the time. You bought a new vehicle which is going to depreciate the most in it's first year. You bought a high tech product still in the early part of the adoption curve - where prices are going to drop every year. You chose to sell it after only a year and to a broker, so that guarantees a significant loss.

If the benefit to cost made it worthwhile for your business, then it's completely understandable. But you should have anticipated this. If you didn't, I'm at a total loss. This seemed completely obvious.

[newscoulomb]

One thing you need to account for with any EV is that the $7, 500 Federal EV Tax Credit comes right off the top in terms of depreciation. Regardless of whether you were able to take advantage of it, the car will lose $7, 500 off its value the moment you sign over the license. So while losing $21, 000 in one year sounds like a lot, it was actually only $13, 500, and that's if you didn't take advantage of any Colorado State credits and refunds. That's still a lot of money, but it's getting much closer to expected depreciation for ICE vehicles.

[iuflbnb]

I call it first adopters fee.I salute all first adopters to get the technology moving forward.

[pnketia]

That's your own fault! A year ago YouTube was littered with people posting videos of how much they made on selling their used Teslas so timing is key. Porsche Taycan owners are suffering the same dilemma. The rule of thumb is don't buy a depreciating asset expecting it to grow in value unless it is a rare car or collectible.

[stevewilcoxson]

That reminds me of a song. Know when to hold 'em, know when to fold 'em- Kenny Rogers -The Gambler.🤠

[Foxfried]

Well that is ... PREDICTABLE! Remember a few weeks ago when you were asking $56K for it ?😆🤣

[sternumboy]

An individual can just keep the vehicle and continue to use it and get value out of it.

[zmarko]

I bought my used Tesla at the worst time, November 2022. Prices were at their peak at that point, and I found a used 2019 Performance Model 3 with 34k miles for $43k. I was contemplating moving to a Model Y, but the last trade in offer from Tesla was $25k, so I'm just going to keep the 3. I'm not a YouTuber or anyone special, so I can't afford to be losing that much money, so looks like I'll be hanging on to this for a few more years. Lol

[FrankySilverFace]

Lots of ppl bought at the peak. The inflated high priced bit everyone who bought at that time. Then Elon did something extra special for Tesla owners. Then hertz helped out too.
Back in the day everyone always lost like 20% in 12 months. It's natures way. 😂

[cayminlast]

I recall in 1972 the first basic (home) personal computers, for example the "HP 3000" retail price was $95, 000, today with much improved technology a few hundred dollars will get you one. The price of EV's will follow a similar trend in the future. I very much appreciate all the current EV owners and hope to maybe get one myself sometime in the future.

[Pookgai]

Used car worth less than new car! Breaking news at 10!