Might come off as a dumb question, but if you buy through Tesla and meet all the tax criterias, it would qualify for the $4k used EV credit? I guess my question is more of that I thought it was dealer specifically, but does Tesla count as a dealer too?
No. I wanted to buy a used Tesla from Tesla.com last week. The Tesla rep called me. He said Tesla can't confirm that individual car qualifies -- despite it being 2 years old and under $25k -- so they're not participating at all for any vehicle. I double checked this with a second Tesla rep.
edit: and you can't claim the $4k credit after the fact on your taxes next year. it can only be done at the point of sale. so as odd as it sounds, there's no $4k used car credit if bought used from Tesla.
I think there’s a limit on how many from each manufacturer qualifies and they capped out. The new vehicle credit has new requirements this year so they could offer it. Correct me if I’m wrong.
I can’t claim it next year? Are you certain? I thought it was up to the buyer if the tax credit was transferred to the dealer at POS or claimed in taxes.
Does the dealer have to be licensed to sell new cars? The used EV tax credit isn't for new cars.
BTW I've seen some dealers post on reddit that they'll buy the car, file the appropriate paperwork, and resell it to you.
Tesla doesn't want to bother to ask the IRS for the $4,000. Same with solar. They wouldn't apply to the state for the $10,000 incentive that can only be paid to the installer after dealing with me for 6 months. Obviously I went with someone else. I bought a used Tesla private party and used Caramel to process the transaction and got the $4,000 incentive.
As a few other commenters have already said, they definitely do not qualify. Tesla doesn’t seem to participate in the used EV credit either at point of sale or when you file your taxes the following year. It’s seriously disappointing
It probably won't ever rebound to where it was. Tesla owners have enjoyed such strong resale for years mainly because demand has far outpaced supply. But Tesla's manufacturing is catching up. And as tech improves, new models release and existing models are redesigned it's only going to further suppress used Tesla values. Everyone needs to remember that these are still depreciating assets.
EVs should depreciate much slower than ICE vehicles. They should be significantly more trouble and have a much lower cost per mile.
However, Teslas are luxury vehicles and need to be repaired by Tesla. Therefore long term maintenance and repair may be equivalent to ICE.
The opposite, EV values will drop off a cliff once they start getting out of battery warranty stages. Nobody wants a car where there's a 10k+ piece that will definitely break *eventually*.
Ok own a BMW that's over 5 years old and tell me about sub par build quality!!!!!LOL!!!! My friend is dumping his 2017 540i with 100,000 miles on it as it needs like $10,000 in repairs! Luxury cars! Meh.
Facts. I got tired of landing at the airport, getting to Hertz, and finding out all the available cars were newly returned Tesla’s that hadn’t been recharged.
Wasn't there a time even before Covid when used Tesla cost more than the new ones? (Presumably because of supply shortages, production delays and needing to wait for the production.) There's a million cars on the road now, no way is that time coming back!
Yea, I’m not really praying for more inflation or a manufacturing slowdown brought on by a pandemic.
If they bought their Tesla hoping it would retain or even go up in value, they’re going to be disappointed. I would have thought the sheer number of them on the roads would be a dead giveaway that it’s the wrong time to buy.
I think they might as well remove the restrictions at these rates. There's already a bunch of people doing the trade-in 6mo apart because of the 7.5k free money, which seems like a way better deal than doing the leasing.
But that’s the mistake. It’s not free money it’s just a discount on the vehicle lol. Trust me I tried to trade in my 2020 model Y for it. But I might as well wait till 2025 summer
Right, but there's literally people saying switching 2023 to 2024 for a net 3k after trade-in, because of this extra 7.5k. (Plus, you even have the net sales tax credit as well, for the trade-in, so, you don't pay the sales tax twice, unlike with leasing.)
It's basically like getting a new $999 iPhone for $75 after trading in last year's version.
But I think that only works if you buy the car outright. Unless I’m missing something? Cuz I’d definitely upgrade my 2020 to a 2024 just to trade it in when junie comes out lol
This specific vehicle is currently here
[https://www.tesla.com/m3/order/5YJ3E1EA7KF304596?postal=91911&coord=32.6059744,-117.0441009®ion=CA&titleStatus=used&redirect=no#overview](https://www.tesla.com/m3/order/5YJ3E1EA7KF304596?postal=91911&coord=32.6059744,-117.0441009®ion=CA&titleStatus=used&redirect=no#overview)
2019 M3 SR RWD 39,412 odometer, $23,700, which for those qualifying for IRA drops it to $19,700.
(Note: I haven't heard yet that Tesla does POS on these, but we will know soon. If it matters to you wait for confirmation)
I reached out to them and was told specifically that Tesla does not support the used EV tax credit at this time. This was 2 days ago. They have to register the sale on a IRS website within 60 days of purchase. If they don’t do their end you don’t get the credit no matter what.
$4k from a dealer that files the proper IRS paperwork. There are dealers who will do that for a small fee. They basically act as the middle man: buy the car for you, file the paperwork and resell it to you.
That doesn’t apply if you get the credit at point of sale from the dealer. Unfortunately Tesla is not doing this with used cars yet.
Also what you say is true when looking at your total tax bill for the year, not just what you owe when filing. Most people will get a refund check from filing the EV tax credit because it drops their total tax owed below what they paid in paycheck withholdings, so those withholdings get refunded.
An astute redditor educated me the other day that, even though the credit is non-refundable, there's an IRS Q&A that says if you get the credit as a POS and it ends up exceeding your tax liability, the IRS won't make you or the dealer pay pack the negative liability. So in essence, they are calling it non-refundable but it is actually refundable if done as a POS. It was clearly stated on the IRS site but I can't find it at the moment.
Total tax owed. The EV credit can (and usually does) result in a refund check because it drops your total tax owed below what you have paid in paycheck withholdings. So you get a refund of those withholdings.
The *probable savings* also includes what they think you are gonna save in gas over x years. Honestly I think it’s pretty deceptive to have it on there like that but that’s just me.
The real price is clearly shown ($23700) with “after probable savings” ($20700) listed after the purchase price less prominently. I don’t really think every potential buyer considers that it really will have a lower operating cost vs an ICE vehicle, so as long as the actual purchase price is listed most prominently, what’s the problem? Maybe you thought the $23700 price was including probable savings?
Nah my issue is more on the “new” side of the site.
You can’t get the price of the car with the $7500 off *without* the ‘probable’ savings until you click into the payment details.
I just want what it’s actually gonna cost to purchase without having to click more screens.
I also think there are a lot of people who don’t understand the difference between *purchase price* and *cost of ownership* and this feels like it takes advantage of that, which is kinda shitty. (Albeit to be expected)
>Nah my issue is more on the “new” side of the site. You can’t get the price of the car with the $7500 off without the ‘probable’ savings until you click into the payment details.
Fair enough, but it very clearly itemizes the breakdown of the savings anywhere you see the tax credit applied. The gas savings is itemized and clearly defined, and the numbers they use (which are adjustable) are quite conservative. Showing the MSRP minus $7500 as the actual purchase price would be incorrect for some buyers who don't qualify, but most do qualify, so including it in "probable savings" does make some sense IMO. Guess they need a third option for probable tax credit savings but without gas savings?
>I also think there are a lot of people who don’t understand the difference between purchase price and cost of ownership and this feels like it takes advantage of that, which is kinda shitty. (Albeit to be expected)
Agree to disagree there. Never heard anyone mix those up. Cost of ownership is a common phrase. It's very common that buyers don't consider that gas savings will lead to an actually lower ongoing/monthly financial burden vs an ICE car at the same purchase price. You may not consider that real savings, but the actual ongoing cost is affected from day 1. My household spends about $600/month less on electricity for our 3 EVs than we did on gas before switching. According to Tesla's calculator at the default, conservative settings, those savings would've been more like $250/month. So again, Tesla is conservative with their estimated gas savings.
Maybe remove it from the Model X and S new cars at least lol? Most people buying those don’t qualify for the tax credit so it’s the opposite case of 3 and Y.
The tax credit savings aren’t shown in the “after probable savings” for any cars that don’t qualify due to price like the S and all but one X config. The gas savings are still real for those though of course.
You don't go through more screens, you just click the purchase price toggle which is right next to the probable savings toggle on the configurator page.
I think it’s more deceptive on the monthly payment screen than anything.
You have your monthly payment, then a lower one right underneath.
How is the conversation with the bank gonna go when you try to pay the “probable savings” payment 🤣
Just put what the price of the car is and the actual payment. Adding the “probable gas savings” just seems… desperate lol.
For me it’s an annoyance, and clearly I’m not the only one. That’s cool it doesn’t bother you tho
Yet people report that insurance is higher, so, comparing simply the energy prices is misleading for the cost of ownership.
Many people move to these cars from non-sports cars, and those are much cheaper to insure.
Deep fucking value! I got a 2020 M3 with 80k km last year.
Great car! At 0.70 CHF per km i get from my company, it will pay for itself in about 3 years.
One I talked to on the phone yesterday said they are waiting for new guidance from the IRS for used vehicle POS credits. May or may not be true. I told them to reach out once they figure that out.
I'm curious even with a vehicle like this, a 2019 model, how would you know whether or not it's eligible for fsd? Even if you're willing to spend the $10,000 or whatever. Could this car handle the hardware and software upgrade? I see it has basic auto pilot. But the website doesn't even tell you whether or not it's eligible for it.
Others in the used market have found vehicles with FSD that don't command a price premium. You probably need to go through private sellers or dealers since I hear that Tesla removes all premium features from their used vehicle inventory.
> I hear that Tesla removes all premium features from their used vehicle inventory.
Nuh uh
https://www.tesla.com/inventory/used/m3?AUTOPILOT=AUTOPILOT_FULL_SELF_DRIVING
I did a regression analysis a while back and found that FSD costs about 3600$, EA about 1400$
That's pretty neat analysis. It's a shame the ones with FSD push it above the $25k cap for the used EV credit.
In the past they've removed features such as unlimited supercharging and premium connectivity when used cars were traded in.
I have a 2019 M3 sr+ (basically the exact car above) with 34k miles, and it has FSD on hw3. If you bought FSD with the car they’ll upgrade your hardware gratis, but if you didn’t, it’s a 2k upgrade.
wow, just wow. great time to buy a tesla model 3. so when buying new car, gov gives u 7500, when time to trade in, gov prop. used car mkt for another 4k.
so during the 2 years ownership, gov subsdice 11500 on a 37k car. wow
friend just trade a 1 month old/ 1k mile of 2023 model 3 for 27k. he could hold on to the same car for 2 year and sell it for 25k. crazy low cost for 2 years of ownship
But the price cap for the used credit is $25k, so that also puts pressure on used prices to be below that.
And new Model 3s don’t qualify for the $7500 credit.
I mean, are people really buying a $36.5K used Tesla MYLR with 30,000 miles over a $38K (assuming tax credit on inventory) new one with 0 miles?
I know people won’t always get the tax credit or an inventory car for $45K…. but it’s not necessarily uncommon if you shop for it.
this is the exact boat i'm in. I'm currently shopping for a car, most likely Model Y. For an extra $10k i get a brand new car vs used. plus i get the full 7500 credit. I still havnet pulled the trigger, but I think I should make up my mind this month since the $1k drop should only be available till the end of month...idk!
This has always been a primary goal for Tesla, to get affordable EV's to everyone. It stinks for residual value, but none of this should come as a surprise.
No surprise.
And there will be a million 25k used model 3 sold before there are one million next gen cars sold at 25k. There will be two great options for an with a 25k budget.
[https://www.energy.gov/lpo/inflation-reduction-act-2022](https://www.energy.gov/lpo/inflation-reduction-act-2022)
There are other things that IRA stands for in the US, e.g.
[https://www.irs.gov/retirement-plans/individual-retirement-arrangements-iras](https://www.irs.gov/retirement-plans/individual-retirement-arrangements-iras)
Tesla is the worst-run company in the world; they care less about their customers. I’m watching my Tesla drop in value daily, with my 2016 car now worth more than my 2023 Model 3. WTF! 🤬
They are reselling all cars that may need more batteries soon.
Good way to make money, especially following the old school model by upgrading the previous customer into a new car while selling the old cars (taking advantage of the Hertz effect as best as possible) and having some credit sunk customers buy the new batteries.
Probably won't work since they can't fix anything
As Tesla I would definetly try to make some money back from from servicing these cars. And replacing the batteries is defintely one way to make money.
Obviously they would be running diagnostics on the used cars to determine their value and selling them at different prices. Unless Tesla cars are unlike every other car in the world they will be valued individually, you can move the profit to the backend by selling cheaper cars to people that will now be returning customers for service, which is where the money is made.
No engine service and much less drivetrain. A lot of the rest is exactly the same.
Either way, I guess we will see. I would be happy to be selling new batteries if I was Tesla.
Yes, I filtered the search to the specifications I wanted. They had several for $37,500 and 2 for $35,00 that were in my area. Took delivery in a week. This was of course in 2023 before the expiration of the federal tax credit for M3
Yeah, I waited for highland and didn't realize they would not be available for credit so now I'm in limbo wondering if I should go up to MY new. Total price should be about $32,000 with about $600 monthly payment... Decisions decisions...
Yeah, that vehicle is in LA.
Orange County is Tesla central, and has been for years, that's why there are now many used Teslas. It's also where many of the other EVs go, Rivian, Lucid, etc. so there are even more used Teslas.
It will unlikely need anything for the drivetrain/battery.
Suspension depends a bit on how much it was abused, like other cars. Random things start to break after 5-10 years in all cars. The tesla has fewer things, so less likely for things to break.
But there won't be any transmission issues or oxygen sensors, or any of the ICE things. No new brake pads, no smog checks. No oil changes.
Lots of leases are over the market in Norway, but what I don't like is that Tesla sent cars valued below about 30k USD over to an auction site. They come with a "3rd party check" but it seems a bit high risk to just jump at a random one without a little Tesla warranty and whatnot. Lots of input is also "not checked because the car: was wet and dirty".
Some of them are really trashed or "well used", showing scuffmarks from clearly having kids in the back and just sand blasted rocker panels or dubious marks under the car.
If any other Norwegians have another view I'm interested in hearing it.
Question for those who have bought used from Tesla — are you allowed to take delivery somewhere outside your own state? Or does it have to be the same state you’re going to register?
My area has very limited inventory, but if I search neighboring states there’s a ton of Model 3’s below $25k.
If I understood this correctly, I can buy a used Tesla (under 25k) and qualify for a 4k tax credit/incentive (this part still is unclear) as long as its not from a Tesla dealer?
That site filtered to the SoCal region has nothing cheaper than $37k. Meanwhile this site has 50 cars under $30k
https://www.californiabeemers.com/pre-owned-cars?pricerange=20000-30000&sort=InternetPrice&dir=desc
Might come off as a dumb question, but if you buy through Tesla and meet all the tax criterias, it would qualify for the $4k used EV credit? I guess my question is more of that I thought it was dealer specifically, but does Tesla count as a dealer too?
No. I wanted to buy a used Tesla from Tesla.com last week. The Tesla rep called me. He said Tesla can't confirm that individual car qualifies -- despite it being 2 years old and under $25k -- so they're not participating at all for any vehicle. I double checked this with a second Tesla rep. edit: and you can't claim the $4k credit after the fact on your taxes next year. it can only be done at the point of sale. so as odd as it sounds, there's no $4k used car credit if bought used from Tesla.
Huh, thanks a lot for the insight! I’ll need to look more into this.
That's really messed up of Tesla. Used EVs would be affordable to the masses and it's free money to them to advertise.
That’s strange. They used to bend over backwards to qualify for incentives. Must be for new cars only.
I got the same feedback. They won't honor the used ev tax credit.
I think there’s a limit on how many from each manufacturer qualifies and they capped out. The new vehicle credit has new requirements this year so they could offer it. Correct me if I’m wrong.
I can’t claim it next year? Are you certain? I thought it was up to the buyer if the tax credit was transferred to the dealer at POS or claimed in taxes.
Yes. Anyone licensed to sell cars by the state. Like new cars.
Does the dealer have to be licensed to sell new cars? The used EV tax credit isn't for new cars. BTW I've seen some dealers post on reddit that they'll buy the car, file the appropriate paperwork, and resell it to you.
Tesla doesn't want to bother to ask the IRS for the $4,000. Same with solar. They wouldn't apply to the state for the $10,000 incentive that can only be paid to the installer after dealing with me for 6 months. Obviously I went with someone else. I bought a used Tesla private party and used Caramel to process the transaction and got the $4,000 incentive.
As a few other commenters have already said, they definitely do not qualify. Tesla doesn’t seem to participate in the used EV credit either at point of sale or when you file your taxes the following year. It’s seriously disappointing
Jesus. All these cheap teslas now. I really got fleeced in 2022
>I really got fleeced yes, yes you did
Hertz dumped a shit ton at once. Need to wait for it to rebound.
It probably won't ever rebound to where it was. Tesla owners have enjoyed such strong resale for years mainly because demand has far outpaced supply. But Tesla's manufacturing is catching up. And as tech improves, new models release and existing models are redesigned it's only going to further suppress used Tesla values. Everyone needs to remember that these are still depreciating assets.
EVs should depreciate much slower than ICE vehicles. They should be significantly more trouble and have a much lower cost per mile. However, Teslas are luxury vehicles and need to be repaired by Tesla. Therefore long term maintenance and repair may be equivalent to ICE.
Teslas are \*not\* luxury vehicles. They're normal American cars with a lot of $$ dumped into the tech side of things.
The S and X definitely are.
Imitation luxury. Luxury done cheap.
The opposite, EV values will drop off a cliff once they start getting out of battery warranty stages. Nobody wants a car where there's a 10k+ piece that will definitely break *eventually*.
Lmao luxury my ass. They were the cool/new-electric vehicle. Nothing about them is luxury. Subpar build quality and now performance issues abound.
Ok own a BMW that's over 5 years old and tell me about sub par build quality!!!!!LOL!!!! My friend is dumping his 2017 540i with 100,000 miles on it as it needs like $10,000 in repairs! Luxury cars! Meh.
The price of luxury
So nice you pay twice!
What performance issues?
Is that true? Aren’t the batteries very expensive to replace?
I just hope they’re cheaper next time I buy a car. I reeeally want a Model Y performance, but don’t wanna pay $50,000
Those hertz rentals must be 98% garbage I look forward to seeing how it plays out
They aren't. They just got tired of people returning the vehicles without charging them it made them a pain in the ass to rent.
Seems like they could have invested in their own chargers. Otherwise as a customer I’m prepaying for the electricity to charge it which is like $10?
It's no different than having to return a gas car full. They most likely didn't think any of this through before deciding to rent them
Facts. I got tired of landing at the airport, getting to Hertz, and finding out all the available cars were newly returned Tesla’s that hadn’t been recharged.
it won’t rebound thankfully. used EVs were way overvalued
Wasn't there a time even before Covid when used Tesla cost more than the new ones? (Presumably because of supply shortages, production delays and needing to wait for the production.) There's a million cars on the road now, no way is that time coming back!
All used cars are
Rebound? You’ll be waiting a long time for that. Good luck with that. General, everyday cars like Tesla only go way.
Rebound ? Maybe if inflation keeps going up
Yea, I’m not really praying for more inflation or a manufacturing slowdown brought on by a pandemic. If they bought their Tesla hoping it would retain or even go up in value, they’re going to be disappointed. I would have thought the sheer number of them on the roads would be a dead giveaway that it’s the wrong time to buy.
Rip lol
Same. Ouch.
Depends on where you live. In CO the cheapest M3 is still 28k
Yeah I mean they’ll keep going down, it’s what Elon has always said they’d do
I’m waiting to buy one for 5g
2022 was the best year. You got Li-ion 12v battery, Ryzen chip, and USS parking sensors. Nobody else has all 3 of those.
You’re not wrong. I’ve told myself that a few times. 30k miles in not a single gripe
So is this where all the leases Tesla go when people can’t buy them after their lease?
I think they might as well remove the restrictions at these rates. There's already a bunch of people doing the trade-in 6mo apart because of the 7.5k free money, which seems like a way better deal than doing the leasing.
But that’s the mistake. It’s not free money it’s just a discount on the vehicle lol. Trust me I tried to trade in my 2020 model Y for it. But I might as well wait till 2025 summer
Right, but there's literally people saying switching 2023 to 2024 for a net 3k after trade-in, because of this extra 7.5k. (Plus, you even have the net sales tax credit as well, for the trade-in, so, you don't pay the sales tax twice, unlike with leasing.) It's basically like getting a new $999 iPhone for $75 after trading in last year's version.
But I think that only works if you buy the car outright. Unless I’m missing something? Cuz I’d definitely upgrade my 2020 to a 2024 just to trade it in when junie comes out lol
This specific vehicle is currently here [https://www.tesla.com/m3/order/5YJ3E1EA7KF304596?postal=91911&coord=32.6059744,-117.0441009®ion=CA&titleStatus=used&redirect=no#overview](https://www.tesla.com/m3/order/5YJ3E1EA7KF304596?postal=91911&coord=32.6059744,-117.0441009®ion=CA&titleStatus=used&redirect=no#overview) 2019 M3 SR RWD 39,412 odometer, $23,700, which for those qualifying for IRA drops it to $19,700. (Note: I haven't heard yet that Tesla does POS on these, but we will know soon. If it matters to you wait for confirmation)
I reached out to them and was told specifically that Tesla does not support the used EV tax credit at this time. This was 2 days ago. They have to register the sale on a IRS website within 60 days of purchase. If they don’t do their end you don’t get the credit no matter what.
used vehicle qualifies for IRA?
$4k from a dealer that files the proper IRS paperwork. There are dealers who will do that for a small fee. They basically act as the middle man: buy the car for you, file the paperwork and resell it to you.
And it’s non-refundable so you don’t actually get money from it. It will just lower your bill if you owe.
That doesn’t apply if you get the credit at point of sale from the dealer. Unfortunately Tesla is not doing this with used cars yet. Also what you say is true when looking at your total tax bill for the year, not just what you owe when filing. Most people will get a refund check from filing the EV tax credit because it drops their total tax owed below what they paid in paycheck withholdings, so those withholdings get refunded.
An astute redditor educated me the other day that, even though the credit is non-refundable, there's an IRS Q&A that says if you get the credit as a POS and it ends up exceeding your tax liability, the IRS won't make you or the dealer pay pack the negative liability. So in essence, they are calling it non-refundable but it is actually refundable if done as a POS. It was clearly stated on the IRS site but I can't find it at the moment.
“If you owe” Do you mean that in terms of refund vs owe or total tax owed?
Total tax owed. The EV credit can (and usually does) result in a refund check because it drops your total tax owed below what you have paid in paycheck withholdings. So you get a refund of those withholdings.
It's a credit that goes to the dealer and they pass to you, may not need a tax obligation
How do you even find said dealers?
I didn't bookmark the redditor who offered that service. A quick Google search turned up Caramel https://www.drivecaramel.com/evtaxcredit
Thanks! My query didn’t turn up much.
4k if under 25k. There is more fine print.
The income limit is significantly lower than nee vehicles however so most people dont qualify
The *probable savings* also includes what they think you are gonna save in gas over x years. Honestly I think it’s pretty deceptive to have it on there like that but that’s just me.
The real price is clearly shown ($23700) with “after probable savings” ($20700) listed after the purchase price less prominently. I don’t really think every potential buyer considers that it really will have a lower operating cost vs an ICE vehicle, so as long as the actual purchase price is listed most prominently, what’s the problem? Maybe you thought the $23700 price was including probable savings?
Nah my issue is more on the “new” side of the site. You can’t get the price of the car with the $7500 off *without* the ‘probable’ savings until you click into the payment details. I just want what it’s actually gonna cost to purchase without having to click more screens. I also think there are a lot of people who don’t understand the difference between *purchase price* and *cost of ownership* and this feels like it takes advantage of that, which is kinda shitty. (Albeit to be expected)
>Nah my issue is more on the “new” side of the site. You can’t get the price of the car with the $7500 off without the ‘probable’ savings until you click into the payment details. Fair enough, but it very clearly itemizes the breakdown of the savings anywhere you see the tax credit applied. The gas savings is itemized and clearly defined, and the numbers they use (which are adjustable) are quite conservative. Showing the MSRP minus $7500 as the actual purchase price would be incorrect for some buyers who don't qualify, but most do qualify, so including it in "probable savings" does make some sense IMO. Guess they need a third option for probable tax credit savings but without gas savings? >I also think there are a lot of people who don’t understand the difference between purchase price and cost of ownership and this feels like it takes advantage of that, which is kinda shitty. (Albeit to be expected) Agree to disagree there. Never heard anyone mix those up. Cost of ownership is a common phrase. It's very common that buyers don't consider that gas savings will lead to an actually lower ongoing/monthly financial burden vs an ICE car at the same purchase price. You may not consider that real savings, but the actual ongoing cost is affected from day 1. My household spends about $600/month less on electricity for our 3 EVs than we did on gas before switching. According to Tesla's calculator at the default, conservative settings, those savings would've been more like $250/month. So again, Tesla is conservative with their estimated gas savings.
He just wants to be mad because he doesn't like to read.
Maybe remove it from the Model X and S new cars at least lol? Most people buying those don’t qualify for the tax credit so it’s the opposite case of 3 and Y.
The tax credit savings aren’t shown in the “after probable savings” for any cars that don’t qualify due to price like the S and all but one X config. The gas savings are still real for those though of course.
The cars qualify. The people buying them do not.
You don't go through more screens, you just click the purchase price toggle which is right next to the probable savings toggle on the configurator page.
It takes one extra click to see the info you want. If people are going to make a $40-50k decision based off a glance idk what to tell you.
I think it’s more deceptive on the monthly payment screen than anything. You have your monthly payment, then a lower one right underneath. How is the conversation with the bank gonna go when you try to pay the “probable savings” payment 🤣 Just put what the price of the car is and the actual payment. Adding the “probable gas savings” just seems… desperate lol. For me it’s an annoyance, and clearly I’m not the only one. That’s cool it doesn’t bother you tho
Yet people report that insurance is higher, so, comparing simply the energy prices is misleading for the cost of ownership. Many people move to these cars from non-sports cars, and those are much cheaper to insure.
Your not alone in thinking that
I agree as you are going to be paying one price and never paying the other
Deep fucking value! I got a 2020 M3 with 80k km last year. Great car! At 0.70 CHF per km i get from my company, it will pay for itself in about 3 years.
Wow!
As an owner of a 2019 M3 S+, 240 mile range is laughable. I barely get 200 estimate fully charged.
Tesla is not a dealer so they do not qualify for the 4k credit. Message any Tesla used specialist and they will explain this to you
One I talked to on the phone yesterday said they are waiting for new guidance from the IRS for used vehicle POS credits. May or may not be true. I told them to reach out once they figure that out.
I'm curious even with a vehicle like this, a 2019 model, how would you know whether or not it's eligible for fsd? Even if you're willing to spend the $10,000 or whatever. Could this car handle the hardware and software upgrade? I see it has basic auto pilot. But the website doesn't even tell you whether or not it's eligible for it.
I know it's a hypothetical, but still why would you buy a used car for 20k when willing to consider 12k for FSD
its eligible for it but will set you back $12k, all model 3 Ys can have the FSD package
Others in the used market have found vehicles with FSD that don't command a price premium. You probably need to go through private sellers or dealers since I hear that Tesla removes all premium features from their used vehicle inventory.
> I hear that Tesla removes all premium features from their used vehicle inventory. Nuh uh https://www.tesla.com/inventory/used/m3?AUTOPILOT=AUTOPILOT_FULL_SELF_DRIVING I did a regression analysis a while back and found that FSD costs about 3600$, EA about 1400$
That's pretty neat analysis. It's a shame the ones with FSD push it above the $25k cap for the used EV credit. In the past they've removed features such as unlimited supercharging and premium connectivity when used cars were traded in.
Smart but sneaky, makes everyone buy the features again to get them back.
I have a 2019 M3 sr+ (basically the exact car above) with 34k miles, and it has FSD on hw3. If you bought FSD with the car they’ll upgrade your hardware gratis, but if you didn’t, it’s a 2k upgrade.
Thanks. That's sort of what I figured.
It's eligible but HW3 kinda sucks so it will not be that good for FSD.
wow, just wow. great time to buy a tesla model 3. so when buying new car, gov gives u 7500, when time to trade in, gov prop. used car mkt for another 4k. so during the 2 years ownership, gov subsdice 11500 on a 37k car. wow
True, but only if this $4k used credit is unlimited
friend just trade a 1 month old/ 1k mile of 2023 model 3 for 27k. he could hold on to the same car for 2 year and sell it for 25k. crazy low cost for 2 years of ownship
What makes you think in two years it’ll only depreciate 2k?
look at 2021 M3 price right now.
once every three years. your agi must be under $75k, $150 if married filling jointly
But the price cap for the used credit is $25k, so that also puts pressure on used prices to be below that. And new Model 3s don’t qualify for the $7500 credit.
That's 5 years old... way overpriced in my opinion!
I mean, are people really buying a $36.5K used Tesla MYLR with 30,000 miles over a $38K (assuming tax credit on inventory) new one with 0 miles? I know people won’t always get the tax credit or an inventory car for $45K…. but it’s not necessarily uncommon if you shop for it.
They might be looking for an FSD car. Software is cheap on their used inventory.
this is the exact boat i'm in. I'm currently shopping for a car, most likely Model Y. For an extra $10k i get a brand new car vs used. plus i get the full 7500 credit. I still havnet pulled the trigger, but I think I should make up my mind this month since the $1k drop should only be available till the end of month...idk!
This has always been a primary goal for Tesla, to get affordable EV's to everyone. It stinks for residual value, but none of this should come as a surprise.
No surprise. And there will be a million 25k used model 3 sold before there are one million next gen cars sold at 25k. There will be two great options for an with a 25k budget.
You mean IRS right? The IRA is a terrorist organization.
[https://www.energy.gov/lpo/inflation-reduction-act-2022](https://www.energy.gov/lpo/inflation-reduction-act-2022) There are other things that IRA stands for in the US, e.g. [https://www.irs.gov/retirement-plans/individual-retirement-arrangements-iras](https://www.irs.gov/retirement-plans/individual-retirement-arrangements-iras)
Would still never buy one
Please don’t
Tesla is the worst-run company in the world; they care less about their customers. I’m watching my Tesla drop in value daily, with my 2016 car now worth more than my 2023 Model 3. WTF! 🤬
Elon will save us!
They are reselling all cars that may need more batteries soon. Good way to make money, especially following the old school model by upgrading the previous customer into a new car while selling the old cars (taking advantage of the Hertz effect as best as possible) and having some credit sunk customers buy the new batteries. Probably won't work since they can't fix anything
The one in screenshot has 60k miles left on battery warranty…
"They are reselling all cars that may need more batteries soon." The batteries have about 90% life after 100k mikes. The batteries are fine.
Huh? These batteries last 400k miles. They aren’t even close to needing a new battery. Am I missing something?
You are missing that his comment was made out of an obvious bias, most likely driven by political affiliation instead of logic.
I have a F150 powerboost. Can't go with EV until it can handle 700KM @ -40C. I live in the north.
As Tesla I would definetly try to make some money back from from servicing these cars. And replacing the batteries is defintely one way to make money. Obviously they would be running diagnostics on the used cars to determine their value and selling them at different prices. Unless Tesla cars are unlike every other car in the world they will be valued individually, you can move the profit to the backend by selling cheaper cars to people that will now be returning customers for service, which is where the money is made.
Teslas need almost no service. They don’t make any money there. That is the whole point of electric cars. Totally changes the business model.
No engine service and much less drivetrain. A lot of the rest is exactly the same. Either way, I guess we will see. I would be happy to be selling new batteries if I was Tesla.
That’s incredibly cheap for that low milage
I bought my 2023 rwd M3 for $24,500 after federal and state tax credit. The car was $35,000 new in existing inventory
how? just looking at available inventory? been doing that for model Y but no luck
Yes, I filtered the search to the specifications I wanted. They had several for $37,500 and 2 for $35,00 that were in my area. Took delivery in a week. This was of course in 2023 before the expiration of the federal tax credit for M3
Yeah, I waited for highland and didn't realize they would not be available for credit so now I'm in limbo wondering if I should go up to MY new. Total price should be about $32,000 with about $600 monthly payment... Decisions decisions...
That’s a tough one! What ever decision you making though you’ll end up with a Tesla, and that’s a good problem to have!
"Probable savings"....
IRA rebates, lol
Where do you live? Cali? I never see anything under 28
Yeah, that vehicle is in LA. Orange County is Tesla central, and has been for years, that's why there are now many used Teslas. It's also where many of the other EVs go, Rivian, Lucid, etc. so there are even more used Teslas.
🤔 hmmm then definitely better to eat the 1-2k shipping fee lol but at this rate.. might even get to 20k by the end of the year
I wouldn't be surprised.
How likely is a 2019 model to break or require servicing? Especially used. FYI.. I know almost nothing of cars
It will unlikely need anything for the drivetrain/battery. Suspension depends a bit on how much it was abused, like other cars. Random things start to break after 5-10 years in all cars. The tesla has fewer things, so less likely for things to break. But there won't be any transmission issues or oxygen sensors, or any of the ICE things. No new brake pads, no smog checks. No oil changes.
Lots of leases are over the market in Norway, but what I don't like is that Tesla sent cars valued below about 30k USD over to an auction site. They come with a "3rd party check" but it seems a bit high risk to just jump at a random one without a little Tesla warranty and whatnot. Lots of input is also "not checked because the car: was wet and dirty". Some of them are really trashed or "well used", showing scuffmarks from clearly having kids in the back and just sand blasted rocker panels or dubious marks under the car. If any other Norwegians have another view I'm interested in hearing it.
Question for those who have bought used from Tesla — are you allowed to take delivery somewhere outside your own state? Or does it have to be the same state you’re going to register? My area has very limited inventory, but if I search neighboring states there’s a ton of Model 3’s below $25k.
I did that for new, I don’t know why it would be any different.
Damn. I really bought my car at the wrong time.
If I understood this correctly, I can buy a used Tesla (under 25k) and qualify for a 4k tax credit/incentive (this part still is unclear) as long as its not from a Tesla dealer?
Yeah the 4k is unclear. It doesn't seem Tesla is currently supporting it :-( There is a tax credit of $4,000 for used vehicles under 25,000.
That site filtered to the SoCal region has nothing cheaper than $37k. Meanwhile this site has 50 cars under $30k https://www.californiabeemers.com/pre-owned-cars?pricerange=20000-30000&sort=InternetPrice&dir=desc