Hi all , wondering why recently my local used car market has been saturated with model Xs at the asking price ± $45k and low mileage.
Is there any specific reason behind that 2016 year/ Florida flood/ my market falling apart etc.?
Looking for a vehicle and with my budget of 40ish I would consider used X (new base msrp 120k+ , almost 3 times less used ones with ok mileage), before they were starting at 55-57k in my area.
Have you looked into the history of model X’s, by year? Wasn’t 2016 the launch year? I’ve heard that those early FWD (falcon wing doors) were pretty problematic. It’s already out of bumper-to-bumper warranty, and you don’t want to own a Tesla outside its 8-yr battery warranty. I’d do a lot more research before jumping into a 6 year old Tesla… not many places work on Tesla’s. Good luck with the search!
The market is “crashing” around many vehicle brands and models. With Tesla, it’s more of an adjustment back to reasonable vehicle depreciation. In your case, you are looking at a 6 year old, prior generation model… ~50% RV over 6 years is still strong. Why has depreciation recently accelerated?
1> The refresh Model X is a much better overall vehicle.
2> Interest rates are bananas and it can be expensive to finance a 6 year old EV.
3> Range loss leading to cost of battery replacement out of warranty
4> For the same price as a used old Model X, you can get a nearly new Model 3 or Y.
As we’ve talked about in another thread, pre-refresh Model X wholesale auctions are seriously underperforming MMRs. I would expect secondary market pricing to continue dropping on these, it has not hit the bottom yet.
Does “pre-refresh” means model X before oct ‘21 ? What’s your expectations on when hitting the bottom?
Ev tax credit on wranglers ends this month , I’m on the fence what to do. No rush I have enough cars , but don’t wanna miss good deals (if I can say so -4xe with all msrp offs and rebates still over 700/mo lease, MF and 71-73k msrp are crazy imo)
Yes it is the launch year and their warranty is 8yrs/150k. So far I’ve seen there’s not much difference before oct ‘21 (restyle came out), but there’s some software and hardware updates almost each year (will research on each how significant they were in case to start looking from a specific year manufactured)
Falcon wing + glass issues, general founders edition issues, panel gaps + adjustment, wind noise, etc. etc. etc.
I’d also like to put out there that sometimes battery failure or degradation is not the entire battery but can be a cell-by-cell failure, some good EV indies like the electric garage can diagnose that!
That’s where Tesla is different from legacy auto manufacturers. They will implement changes or updates whenever they are ready and not constrained to model years. Like high tech development, it is a continuous improvement process which is why you may find part numbers with -a, -b, -c etc. versions in just one model year. In any case, the big caveat with teslas is that only Tesla fixes Tesla (generally speaking). There are very few third party options and even fewer third parties that can/will touch the high voltage (HV) parts.
Search in the Tesla forums, there should be plenty of threads along your subject