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And this is why insurance on these cars are through the roof.
!!! Smh
You should find a good local mechanic who is familiar with EVs. Almost all common service and most repairs can be done for no more, or less than any other vehicle. There are also good aftermarket warranty options for Tesla, like XCare, which is accepted by most Tesla service centers, if you want to keep going that route. However, no warranty will cover brakes.
I’m struggling with a $1000 payment on a 2% loan (on a 2016 model) but refinancing at current rates seems like a terrible idea. Any funds you may have to pay down, into a refinance, are better used to pay off the negative equity and sell the car (try Carvana).
If you just got a new HV battery, your most significant concern is addressed. Try to find new insurance, sometimes another carrier may offer a better rate. Sometimes you may need to switch carriers every year. Hopefully, with a 2016, you have free supercharging.
Cautionary tale why you should never buy an EV.
Lease? All day everyday. Buy? No way.
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Yeah I think buying EV is like playing a reverse lottery. 99% of people will buy one and it’s perfectly fine, better than ICE. 1% of people end up with every single short stick imaginable.
I’m looking to pick up a used EV once my own lease expires but only if they qualify for that $4k used EV credit. At $21k or less a lot of luxury EVs become quite a good reward for the risk you take.
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I’ve had that discussion with him already! 
I’m pretty dead set on a used Ariya or Polestar as a daily driver, and keep leasing some premium brands for work. Maybe even EQE used but don’t think they’ll hit $25k or less.
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Worst financial decision of your lives can be this…
https://www.blasiuschevrolet.com/inventory/used-W1N9M0KB9NN011883/
I’m looking for Mini SE. If I’m not picky with color, I should have it by now already. 2022-2023 iconic trim low miles is selling for 21-24k. I’m looking for the red with white roof & grey leather inside. My wife loves our lease EQB so far. I should have leased the EQE instead, I don’t mind the exterior, love the interior. I’m planning to pick a EQE lease return one for 30-40k with extended cpo warranty or carmax warranty to hedge against failures.
Ouch, if that one is black or grey, it’ll be easier to replace my parent’s tesla Y.
Heh. I’ve got 1.9 years left before I gotta make that decision. Wouldn’t mind a further EV depreciation plunge before then.
Honestly might just be worth to keep leasing new ones if prices continue to go the way they are. Lease until you hit that $25k credit
My EQB residual is $32k. It’ll be interesting to see how much the actual MV when my lease ended. If it’s really bad, I’m thinking of grounding it and get my wife to pick it up when it hit the dealer’s used lot.
Thank you I will look into Xcare. My car note is 620. I have been quoted insurance upwards of $700 on this car. Ive been trying to leave Allstate for years however the car/ home and customer loyalty combo has been the best numbers. I will try again however insurance companies hate this car.
I’m looking to order brakes and rotors online and to save a bit. Tesla did not install a new battery. It is a remanufactured battery 2024 that does not come with a new warranty. It has a continuation of the original battery warranty which is up in December of this year.
Can you simply eat the negative equity and sell out? Seems like the car is not really worth the stress for you.
Tesla insurance might help you w/ the costs, but I can’t see insurance costs going down anytime soon. Why keep a vehicle you’re just going to sit parked somewhere?
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For some odd reason, the negative equity on my car has remained at around $10,000 for a year. When I pay off $2,000 in payments, the value decreases by the same amount. I was hoping the situation would improve or that the car would sell, but neither has happened. I really don’t want to pay $10,000, but it’s becoming more likely. Paying off the negative equity and getting rid of the car would be stressful, but it would also be a huge relief.
I should amend that to never buy a NEW EV.
That’s because Elon is slashing prices left and right for all Tesla trims, including model S.
S, X, Y just got price cuts of $2k, so used values will drop by similar amounts.
Are you close to paying it off? It sucks that insurance costs are so high, otherwise I’d just keep the car. I think the problem with Tesla are the number of fanboys and fanatics, who you know are driving like maniacs, and behave exactly the same in person driving as they do online. They can’t handle the power and crash.
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That’s not the only reason. Tesla’s fender bender repair is ridiculously expensive. I shared this before. My parent’s tesla Y got a minor fender bender in parking lot. It has a minor dent on the rear quarter panel, scratches on the rim and some minor hair line crack on the rear bumper (you barely see it). Our usual body shop will not touch it since they can’t get tesla’s part. It has to go to tesla approves bodyshop. Repair estimate came out to be $7k. No underlying damage, no sensor damage. If that’s similar german car, it should not cost more than $4k to repair. We cashed the check and got another one for the diminished value claim.