Craving to trade in my PIP for a Tesla Model S

Since I have a short, less than 10 mile one way work commute, I experience all electric travel often. More would be better, but less is tolerable. Making do with what I have and what's practical, for now. I'm enjoying the electric experience.

 

I'm going to wait for a used (depreciated) Model-S.
With our property tax structure in northern Virginia, I figure a new Model S would be about 20% taxes+hybrid fees alone (assuming 10-yr ownership). CA is probably around 15% taxes. VA pays 5% per year of book value over $20000, CA is more like 1.2% value tax per year, but CA has higher initial sales tax.

(more likely though I go for a used PiP in 2016)

 

Charter of PriusChat, Rule 3.
(I put the Charter in my signature, in case you haven't memorized it).

 

Tesla is guaranteeing 43% value after 3 years. Given Tesla's penchant for exaggerating the truth (anyone else value their time at $100/hr?) that's a high estimate of $30k for a used Model S in 2016. I think I can swing that.

 

I really love the Tesla, but a big barrier for me is the annual service fee. I realize its a luxury car, but it's frustrating to be forced to pay $600/year or lose your warranty. It makes me feel as if they aren't confident in the reliability. Instead Toyota gave me 2 free years of maintenance and a very generous warranty.

$600 is 150 gallons of gas at today's prices, and a fully electric car like the Tesla should be extremely low maintenance.

So for now I am happy with my mini Tesla; and invest the rest in TSLA....which is doing great.

 

85 kWh

It's great. Makes everything else look like yesterday's ...

No.

I've never needed a public charger. Every day starts with a full tank. Only on trips do I drive more than ~250 miles/day. In my opinion, if your EV (or ICE for that matter) doesn't have enough range to do a day's normal driving (except in very unusual circumstances), then you have purchased the wrong EV.

 

The maintenance wasn't free, it was just included in purchase price. Which is more honest?
Every car has maintenance that must be performed in order to keep the warranty intact.

 

It looks like Plug-Ins depreciate a lot more than Prius/Camry/Highlander hybrids, which in Virginia, depreciation is a defacto tax incentive!

 

To be fair, Tesla isn't guaranteeing the 43% minimum value, Elon Musk is making the guarantee out of personal funds.
Elon, Tesla and most others expect the Model S to hold its value much better than that. But Elon is personally guaranteeing that level.
As for plug ins, also remember $7500 of that disappears after the first owner. You could buy a plugin, not drive it at all, even add stuff to it, but because the $7500 credit is no longer available, the car looses that value.

 

Just a word of warning, I had (and still have, since no one will pay a reasonable price for it) a 2012 Advanced PiP. I took delivery of my Tesla Model S on January 17th, I've driven the PiP less than 250 miles since then (only on bad/snow weather days to work, no point in risking the Tesla)

The resale value on the PiP is horrific, you will not get any kind of decent offer on it, so there is no point to "trading it in". I'm still trying to sell the PiP, but there's less interest even with dealers taking it... The 2013 models are basically not selling at all, and the dealer I have worked with for the past 12 years for my Priu purchases (I've had 4 in that time) tells me they are now refusing to take delivery of any more from Toyota, they still have a few 2012s they are trying to unload, and they have more than 20 2013 PiPs in their inventory.

 

If I had the money to afford one I would by the Tesla S. I would also have our house with about a 15 KW
solar and wind power array to fuel that Tesla without spending a penny on foreign oil......

 

I'm not so sure this is the case in CA with carpool access. That sticker is worth a good deal of money, especially if it gets extended to 2018 as it is currently proposed.

Plus, CA never really got the crazy Toyota incentives that the east coast did.

 

What type of East Coast crazy incentives are you referring to?

 

Like this:

Price Paid on PIP? | Page 41 | PriusChat

I was watching that thread for a bit before.. I kind of remember the "record" being something like $23,700 for a PiP Base after all incentives and tax credits.

In CA, I think the biggest incentive was $500 or $1000 on a PiP Base? I dont totally remember.. maybe dont want to remember since I preordered.

 

maybe dont want to remember since I preordered.

me2

 

Me 3
But remember we have had a year of great driving time in our plug-ins. Priceless

 

yeah......I don't regret that

 

I totally understand wanting to trade up as the technology is changing quickly, but anyone thinking they will get good resale value on a 1 to 2 year old car is bucking reality. Resale value on most cars doesn't start to be reasonable vs. value delivered until at least 5 years. The first 2 years is the HUGE depreciation period. That's why people who get a new car every 2 years generally pay a lot for the privilege. I know because I always bought those 2 year old cars at about 50% off their sticker price (PiP is my first new car in 23 years).

My guess is that 5 to 10 year old PiPs will have decent resale value compared to the overall market. My guess would be a bit of a premium over a similarly equipped regular Prius. The reliability starts to become more of a factor over time; and ads to the value.

There's nothing wrong with trading in a car after 1 to 2 years; just assume you will take a 30% to 50% hit off what you paid (depending on mileage and market conditions).

 

True, but many fall in that category. Cost is the issue.