Surprisingly
My Wagoneer is more to insure than my EQS AMG. No idea why when it’s close to 50K more in MSRP
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My insurance premium has essentially doubled since I got the car. For whatever reason, it seems to be the case with Teslas in my area. It wouldn’t be a primary factor in dumping the tesla, but it would be nice if I happened to drop my insurance rates in the process.
I do not know your situation but why are you making so many miles? Is it a job related?
If this is the case, and if I would be in your shoes, i would stop spending everday 6 hours in the car and find job locally. You will spend 4 hours more at home.
This is not going to work for longer time IMO. I know from experience. Just my $0.02.
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Tesla get totaled from a love tap…
Really??? Do minor impacts affect the batteries much?
My cousin hit those yellow poles in parking lot. His right side was only damaged and came back at 21K in damage. They totaled the car lol
No damage to battery, just body panels
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Buy a $13k Bolt and put half the miles on that.
Also, finding a way to not drive 24k a year would be pretty good.
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Also high susceptibility to vandalism. Not condoning just a real consideration from an insurance standpoint.
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It’s ironic because parts are shockingly cheap for Teslas relative to other cars in the price range. But with the rates certified shops charge + Tesla’s repair procedures, it all adds up super quickly.
Hypothetically what’s the value of your car in 3 years? After another 3 years and 65k miles?
Well, a 2018 with 136k miles would trade in for around $7k-$9k right now, but that’s assuming you find someone willing to buy it. Hence why in my mind I’m just assuming the value is going to be $0 in another 3 years.
dump it asap – take the hit and move on – better than rolling into new lease unless the rate is close to 0% – why pay $2k in interest on neg over the term of the new lease
another option is a interest free 24 month CC and dump the neg onto that and pay off the CC right before interest accrual starts
In my experience selling a Tesla private party for 10+ percent above trade value is easy. So you’re looking at almost $10,000 equity at the end, not even remotely close to an effective zero.
But if you do want out, pay off the negative in cash.
Don’t roll it into your next lease and pay rent charge PLUS tax on it every month.
No matter what some slimy salesman tells you, NE never gets washed or buried. It gets re-borrowed.
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That is the conclusion I have come too - always better to pay off separately or ride it out
Many shops just don’t want to deal with Tesla’s. My friend has a body shop and there is always more and more supplemental cases even after they think the job is done. Mostly cameras not working right after panels being replaced
I’m actually in that line of work myself. We don’t take them in unless it’s a repeat client or friend of the owner. Tesla sells you the parts at list if you’re not certified, so you effectively only profit on the labor. It’s really not a worthwhile proposition to work on them unless you’re a Tesla certified shop or just Tesla’s directly operated body shops.
I guess in my head, I would NEVER buy a preowned EV that is out of battery warranty, so I equate it to $0 value. I’m sure in practice it’ll be worth something, but I’m not sure I’m willing to stick around to find out.
I agree regarding the neg eq - ideal situation would be to find a lease with near 0 MF. However, it seems most EV leases just have crazy amounts of rebates and high MF (I’m sure it’s by design for this reason).
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Even at 0 MF you’re still borrowing at 7% incl tax right?
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24K miles a year is way too much. Just keep driving it and paying the note.
If you get a new car, you’re just gonna repeat the situation and end up in the same place 3 more years down the road.
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@txg - What did you decide? Are you going to keep driving the Tesla?