Should I sell or keep my 5 year old depreciated Tesla

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eye.surgeon
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by eye.surgeon » Tue Oct 08, 2019 1:45 pm

At the risk of derailing my own thread and turning into yet another hate/love Tesla thread, the track performance of this car makes no difference to me. This is a daily driver discussion.
"I would rather be certain of a good return than hopeful of a great one" | Warren Buffett

randomguy
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by randomguy » Tue Oct 08, 2019 2:02 pm

researcher wrote:
Tue Oct 08, 2019 10:46 am
randomguy wrote:
Tue Oct 08, 2019 10:11 am
I doubt it. That 37k msrp honda sells for under 32. I haven't seen many places where you are paying almost 20% in tax/title/license...
Personally i would keep the car. Why drive a honda given the minimal differences in costs.
We are in agreement, that given the minimal differences in cost, they should stick with the Tesla.

The point is...getting rid of the $3x,xxx Tesla to purchase a $3x,xxx Accord does not support his "changed philosophy on expensive cars."
A 3x,xxx 5 year old used car and a 3x,xxx new car are not the same. Buying used luxury cars because they cost the same as new mainstream cars doesn't really work out financially.

The question is why the OP doesn't want to drive expensive cars anymore. If it strictly because of the money, you can make some assumptions and run the math to see what the difference is for a given situation. I expect they will be in with in 1-2k/year at this point for most people. Right now he is probably in the sweet spot of ownership for most cars where repairs costs are low and depreciation is dropping off (10% of 38 is a lot less than 10% of 70k:)). Now if he doesn't want to be driving around in a 100k car because of the image or something that is a different story.

And if you are worried about the environmental effects, the accord hybrid and tesla model S are pretty close in impact depending where you live. In the coal states, the hybrids win. In the clean energy states, EVs win. And in most states the differences is nonexistent.
Last edited by randomguy on Tue Oct 08, 2019 2:13 pm, edited 1 time in total.

sschullo
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by sschullo » Tue Oct 08, 2019 2:09 pm

My goodness, as others have said, keep it. I have never bought a new car in my entire working career until after I retired, and I bought two new ones, with my late husband. I still have the 2014 Tesla and a 2011 Leaf both 100% electric.

What helps me beyond the "numbers" is my futuristic philosophy and values. I am a new adopter of new technologies to help reduce greenhouse gases. It's a dirty rotten job and its expensive too, but you also did your part in supporting American jobs here and bought an outstanding car that does not use filthy petroleum products. Not just gas, but oil changes, lube, and brake jobs. I have 68000 miles on my Tesla and my brakes are fine, and I did not need an expensive 60,000 mile tuneup.
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randomguy
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by randomguy » Tue Oct 08, 2019 2:10 pm

anoop wrote:
Mon Oct 07, 2019 11:59 pm
123 wrote:
Mon Oct 07, 2019 11:24 pm
No one will mistake you for trendy with a 5 year old Tesla. If you want to switch to an Accord or similar to be less ostentatious I think you'd have to get a used one that is a couple of years old.

Easiest solution is to just continue to drive the Tesla.

Some "more mature" drivers are driving Corvettes/Camaros/T-birds that are 20+ years old. Those cars represent something from their early years. Your Tesla does that for you.
The new Tesla and 5 year old one look the same. What makes you trendy in CA is the color of your HOV access sticker. :)
https://www.dmv.ca.gov/portal/dmv/?1dmy ... v/vr/decal

You would have to be blind not to be able to tell the difference between a 5 year old tesla model S and a new one. They gave the car major nose job in 2017. Besides since you only have gen 1 autopilot, you will not be able to crash your car using summon like all the cool trendy people are doing:)

renue74
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by renue74 » Tue Oct 08, 2019 2:14 pm

I think you should give it to me. :sharebeer

Or...if I were you, keep it until it starts to show signs of issues.

Archimedes
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by Archimedes » Tue Oct 08, 2019 2:54 pm

OP, I also have a very generous income. I could drive whatever I want, yet I still have my almost 7 year old Tesla Model S and I am planning on keeping it.

Of course there is the potential for a major repair at some point, and the biggest risk with the very oldest Model S vehicles is an engine failure. That is probably not an issue for you as your Tesla is newer than mine and the engine reliability issue had already been worked out. So far so good for me, no repairs in the last 3 years. And my powertrain remains under warranty for another 15 months.

I did have some early glitches with the first generation door handles, but those were repaired under warranty with home pick up and delivery, along with a free Tesla Model S Performance loaner vehicle. Those days were sweet!

I vote keep it.

protagonist
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by protagonist » Tue Oct 08, 2019 3:15 pm

Keep it another 20 years.
Maybe it will become worth something, like a deLorean.

protagonist
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by protagonist » Tue Oct 08, 2019 3:16 pm

protagonist wrote:
Tue Oct 08, 2019 3:15 pm
Keep it another 20 years.
Maybe it will become worth something, like a deLorean.
Then again, the battery will be a problem....

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Brianmcg321
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by Brianmcg321 » Tue Oct 08, 2019 3:53 pm

protagonist wrote:
Tue Oct 08, 2019 3:15 pm
Keep it another 20 years.
Maybe it will become worth something, like a deLorean.
Or a Tucker
Rules to investing: | 1. Don't lose money. | 2. Don't forget rule number 1.

chessknt
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by chessknt » Tue Oct 08, 2019 3:59 pm

Ev drive train is pretty durable, you may not ever need to replace it since it may go over a million miles and a well maintained battery should be fine for daily use unless your commute is far. No reason to replace, possibly ever?

skis4hire
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by skis4hire » Tue Oct 08, 2019 4:38 pm

eye.surgeon wrote:
Tue Oct 08, 2019 10:51 am
a new Accord or equivalent wouldn't save me anything at this point
The frugal way to view car ownership is to only replace your car if replacing it is cheaper than keeping it.
Luckily for you, a 5 year old Tesla is just starting its usable life, you should assume it will be good to 15+ years and 200-300k miles.

I would focus on how to properly maintain your Tesla to keep it running well over that long timeframe.
At 5 years, you should have already replaced the coolant fluid once, and the brake fluid twice.

Other repairs that come up, like replacing a worn out suspension component, even at say $2000 - are small in the grand scheme.
Keep the appearance up - get a full detail every few years, replace the windshield if it gets really pitted. These are small costs amortized over a long ownership period especially if they help you stay in the same car.

Follow best practices for charging and maintaining charge on the battery to maximize its life.
There are reports that Tesla batteries still have 90% of their initial range at 160,000 miles, and other reports of very long lifetimes for the batteries.
https://cleantechnica.com/2018/04/16/te ... 000-miles/
https://cleantechnica.com/2018/08/23/te ... -expected/

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canon_shooter
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by canon_shooter » Tue Oct 08, 2019 6:26 pm

Dilemma, since buying it I have changed my philosophy on expensive cars.
To cut to the chase, as most others have stated, the least expensive thing you can do right now is keep the Tesla. You've not only paid for it already, but the long term expenses are FAR less expensive in terms of gas mileage and maintenance. In addition, why would you want to go back to an internal combustion engine? They pollute, are more expensive to drive (gas, maintenance) and don't give nearly the driving experience fun with acceleration. Buying a new car is also putting more resource burden on the planet as you would be buying another car which has to be manufactured and delivered.

I don't really understand your statement on a changing philosophy to be honest. While I do understand a need to be cost conscious and to make smart financial decisions, it seems pretty clear that sticking with your purchase is the most prudent step. Is there a social statement you want to make by getting rid of the Tesla such as 'I don't drive an expensive car'? If that's the case, I suggest you still stick with an EV but buy a Chevy Bolt (like I have) which is sure not to turn heads. The cost of ownership on an EV is so much less than an Internal Combustion engine.
Cheers.

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Socrates
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by Socrates » Tue Oct 08, 2019 6:58 pm

I'll take it....I'm driving a POS equinox
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mortfree
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by mortfree » Tue Oct 08, 2019 7:20 pm

TL; DR

Keep the Tesla AND buy the accord.

No more wondering.

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Leif
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by Leif » Tue Oct 08, 2019 7:21 pm

I suggest a Model 3, if you don't keep the S.

I don't feel I need the size of my Model S. If the 3 existed when I bought my S I would have gone for the 3 instead. When you sell your S you have most of the money you need for a new Model 3 (I know you have the money, but we are Bogleheads). Plus, being in California, you can use the car pool lane (again).

The worst problem with Tesla now, IMO, is the service. Fortunately, it does not need service often.

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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by whodidntante » Tue Oct 08, 2019 9:08 pm

protagonist wrote:
Tue Oct 08, 2019 3:15 pm
Keep it another 20 years.
Maybe it will become worth something, like a deLorean.
The DeLoreans never worked right anyway. Part of the charm is that something is always broken.

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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by whodidntante » Tue Oct 08, 2019 9:09 pm

chessknt wrote:
Tue Oct 08, 2019 3:59 pm
Ev drive train is pretty durable, you may not ever need to replace it since it may go over a million miles and a well maintained battery should be fine for daily use unless your commute is far. No reason to replace, possibly ever?
LOL

TBillT
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by TBillT » Tue Oct 08, 2019 9:32 pm

Did not see Ca HOV discussion above
New Telsa or plug-in in CA gets you free HOV, unless you never got the sticker for this car, in which case that adds value to your car becuase it still qualifies, and someone would buy it for that reason. Not sure best way to play that angle but you can judge. Not sure but there coud be a market outside Ca...for example Virginia due to our tax structure used Telsa might be nice.

randomguy
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by randomguy » Tue Oct 08, 2019 10:01 pm

whodidntante wrote:
Tue Oct 08, 2019 9:09 pm
chessknt wrote:
Tue Oct 08, 2019 3:59 pm
Ev drive train is pretty durable, you may not ever need to replace it since it may go over a million miles and a well maintained battery should be fine for daily use unless your commute is far. No reason to replace, possibly ever?
LOL
The sad part is I can't tell if this is a troll or not. There are a lot of delusional EV fans out there:) So far I haven't read of a single tesla making to 250k on the original battery or drive unit. I am sure there is one out there but it is the exception not the rule.

getthatmarshmallow
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by getthatmarshmallow » Tue Oct 08, 2019 10:35 pm

With respect, being a Boglehead doesn't entail owning a cheap car, but rather not buying cars needlessly,n o ? When it comes time to replace it, then think about being frugal, but for now the cheapest option is to hang onto the functioning, depreciating asset.

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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by Cycle » Tue Oct 08, 2019 10:45 pm

I'm was in the same situation but with bikes. I used to have a bunch, though the highest end one was still just a brompton. They are like tools, where using the right one for the right application can make things much easier.

I have grown over the years to lean towards simplicity, so now I just have one nice commuter bike. I sold the other ones, one of which I lost 25% on in depreciation despite it only being 8 months old. Now that I only have 1 bike, i do much less maintenance and I don't fall in the weight wienie category.

I've been told before that I don't like nice things, and this is certainly true, with me valuing time and mental clarity the most. Life is simpler when you don't have a bunch of clutter and fancy stuff to worry about keeping in tip-top-shape.

My wife on the other hand likes fancy things, but that is out of my circle of control, and I try to also keep it out of my circle of concern.
Never look back unless you are planning to go that way

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LittleGreenSoldiers
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by LittleGreenSoldiers » Tue Oct 08, 2019 11:02 pm

For what it's worth. My daily driver is a 2012 Accord that I purchased in 2016 for $12K. (the per year depreciation of your Tesla over the 5 years you have owned it.) I have put 40K miles on my accord in the past 3 years and plan to drive it for at least another 5 years. Maintenance is cheap, insurance is cheap and gas isn't an issue. You're mileage will very. -yes, pun intended.

Our 2005 Honda is with our oldest at college. 180K miles and going strong. Again, low maint, low insurance and gas is not an issue.

3 Honda family for very boglehead reasons.
Good luck on whatever decision you make.

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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by smitcat » Wed Oct 09, 2019 9:29 am

Cycle wrote:
Tue Oct 08, 2019 10:45 pm
I'm was in the same situation but with bikes. I used to have a bunch, though the highest end one was still just a brompton. They are like tools, where using the right one for the right application can make things much easier.

I have grown over the years to lean towards simplicity, so now I just have one nice commuter bike. I sold the other ones, one of which I lost 25% on in depreciation despite it only being 8 months old. Now that I only have 1 bike, i do much less maintenance and I don't fall in the weight wienie category.

I've been told before that I don't like nice things, and this is certainly true, with me valuing time and mental clarity the most. Life is simpler when you don't have a bunch of clutter and fancy stuff to worry about keeping in tip-top-shape.

My wife on the other hand likes fancy things, but that is out of my circle of control, and I try to also keep it out of my circle of concern.
"I've been told before that I don't like nice things, and this is certainly true, with me valuing time and mental clarity the most. Life is simpler when you don't have a bunch of clutter and fancy stuff to worry about keeping in tip-top-shape."
absolutely great you feel that way on personal choice's like these.

"My wife on the other hand likes fancy things, but that is out of my circle of control, and I try to also keep it out of my circle of concern."
This would indicate a present and future problem - it builds up over time.

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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by inbox788 » Wed Oct 09, 2019 1:05 pm

eye.surgeon wrote:
Mon Oct 07, 2019 11:07 pm
I have a 2014 Tesla Model S85 (with autopilot) with 40k miles which I bought new.

I do enjoy driving it, it's in great shape and still fast as Hades.

Dilemma, since buying it I have changed my philosophy on expensive cars.

My next car will be a new Honda Accord or similar. Should I make the change now?
Money is fungible. Should I sell my market funds to pay off my mortgage? Should I take out a mortgage to invest in the market?

Aside from some transaction fees, cars costs are fungible too. Should I buy a new mainstream car or a used luxury car?

Let's say you had a very new Accord totaled, should you replace it with a brand new Accord or take the cash and buy a 2014 Tesla S85? I'd expect more folks would come out on the side of keeping what you had and ask why you're thinking about buying a used car.

How you ask the question is coloring the answers you're getting.

Choices aren't simply used luxury Tesla vs Accord. Why not throw a new Tesla 3 into the mix?

https://cleantechnica.com/2019/09/30/te ... st-to-own/

No change is the easy way out. If you're itchy to get out, it's easier to upgrade than to downgrade. And chances are after you downgrade, you will miss what you had, but you won't know it until you're through it. If you have a chance, maybe a long term test of the Accord will help confirm what you're thinking now, or you're better off sticking to luxury. Might help you decide to come back and as when is the best time to upgrade the S85 before it needs serious repairs or depreciates too much. Given mileage, it's more the latter.

https://cleantechnica.com/2019/03/03/ca ... mpetitors/

H-Town
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by H-Town » Wed Oct 09, 2019 1:11 pm

eye.surgeon wrote:
Mon Oct 07, 2019 11:07 pm
I do enjoy driving it, it's in great shape and still fast as Hades.
Doing nothing is the right choice here.

deikel
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by deikel » Wed Oct 09, 2019 2:41 pm

eye.surgeon wrote:
Mon Oct 07, 2019 11:07 pm
Dilemma, since buying it I have changed my philosophy on expensive cars. I have a high 6 figure income so I could afford to drive pretty much anything, I just don't' want to. My next car will be a new Honda Accord or similar.
The real question is what actually is your new philosophy ? I don't think we know. You are stating that the Honda Accord would fit that philosophy and your Tesla does not anymore, but what aspect does and does not fit ?

Is the philosophy to not drive flashy cars or is your new philosophy to burn more fossil fuel - I don't think that's clear.

Since you ask on the bogleheads, most people will assume a frugal lifestyle and a save/value philosophy and accordingly you should drive the Tesla into the ground since you already took the majority of the depreciation hit and you try to spread it over more years (this assumes the battery degrades linear) to end up with a reasonable cost for transportation need over multiple years.
Everything you read in this post is my personal opinion. If you disagree with this disclaimer, please un-read the text immediately and destroy any copy or remembrance of it.

investor997
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by investor997 » Wed Oct 09, 2019 3:01 pm

Another vote here for keeping the Tesla, especially in California when you consider the cost of electricity is about 25% that of the cost of gasoline (on a per-mile basis).

Funny thing about the Model S... A new one looks almost the same as one from 2012 that's already depreciated quite a bit. Joe Six Pack probably thinks a 2012 Model S is a $100K+ car, even though it's not. Kinda like a 20-year old Porsche 911. You can buy a '99 996 for $10-15K but you'll still get sneers from people who think you're rich...

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Leif
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by Leif » Wed Oct 09, 2019 5:08 pm

If you have concerns about the battery I would keep it just before 8 years or 120,000 miles. That way the new buyer still has some warranty left on the drive train and battery before it expires in case he discovers a problem. That is my current thinking for my Model S. I tend to keep my cars for 10+ years.

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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by Trader Joe » Wed Oct 09, 2019 5:10 pm

eye.surgeon wrote:
Mon Oct 07, 2019 11:07 pm
I have a 2014 Tesla Model S85 (with autopilot) with 40k miles which I bought new. bumper to bumper warranty expired a year ago, drivetrain warranty is good for another 3 years. It's been very reliable with low service costs and obviously no fuel costs, just electricity which is minimal. I do enjoy driving it, it's in great shape and still fast as Hades.

Dilemma, since buying it I have changed my philosophy on expensive cars. I have a high 6 figure income so I could afford to drive pretty much anything, I just don't' want to. My next car will be a new Honda Accord or similar. Should I make the change now? The Tesla has depreciated so much (it's probably worth about $38k right now, original price was over $100k before ~ $15k in rebates) that I wonder if I should just drive it into the ground for a few more years, or get out now.

Seeking opinions among my like-minded people here :)
I would keep it.

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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by Cycle » Wed Oct 09, 2019 5:39 pm

smitcat wrote:
Wed Oct 09, 2019 9:29 am
"My wife on the other hand likes fancy things, but that is out of my circle of control, and I try to also keep it out of my circle of concern."
This would indicate a present and future problem - it builds up over time.
DW is on board with us saving on the big levers... Cars, housing, school, no mortgages, so the little things that might slightly bother me make zero meaningful impact on retirement date.

Little stuff like an $85 bottle of shampoo might raise my eyebrow, but I've learned to save my breathe for big stuff.
Never look back unless you are planning to go that way

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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by smitcat » Thu Oct 10, 2019 8:22 am

Cycle wrote:
Wed Oct 09, 2019 5:39 pm
smitcat wrote:
Wed Oct 09, 2019 9:29 am
"My wife on the other hand likes fancy things, but that is out of my circle of control, and I try to also keep it out of my circle of concern."
This would indicate a present and future problem - it builds up over time.
DW is on board with us saving on the big levers... Cars, housing, school, no mortgages, so the little things that might slightly bother me make zero meaningful impact on retirement date.

Little stuff like an $85 bottle of shampoo might raise my eyebrow, but I've learned to save my breathe for big stuff.
So all is good - much more to life than a retirement date in our world.
Everyone is different all that matters in that you are happy.

Cycle
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by Cycle » Sat Oct 12, 2019 10:14 pm

smitcat wrote:
Thu Oct 10, 2019 8:22 am
Cycle wrote:
Wed Oct 09, 2019 5:39 pm
smitcat wrote:
Wed Oct 09, 2019 9:29 am
"My wife on the other hand likes fancy things, but that is out of my circle of control, and I try to also keep it out of my circle of concern."
This would indicate a present and future problem - it builds up over time.
DW is on board with us saving on the big levers... Cars, housing, school, no mortgages, so the little things that might slightly bother me make zero meaningful impact on retirement date.

Little stuff like an $85 bottle of shampoo might raise my eyebrow, but I've learned to save my breathe for big stuff.
So all is good - much more to life than a retirement date in our world.
Everyone is different all that matters in that you are happy.
I'm assuming you're including me in "our" there.
Never look back unless you are planning to go that way

crystalbank
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by crystalbank » Sat Oct 12, 2019 10:25 pm

eye.surgeon wrote:
Mon Oct 07, 2019 11:07 pm
.. no fuel costs, just electricity which is minimal...
..I do enjoy driving it, it's in great shape and still fast...

..The Tesla has depreciated so much..
..just drive it into the ground for a few more years..

:)
Looks like you already wrote the answer in your question.

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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by smitcat » Sun Oct 13, 2019 12:33 pm

Cycle wrote:
Sat Oct 12, 2019 10:14 pm
smitcat wrote:
Thu Oct 10, 2019 8:22 am
Cycle wrote:
Wed Oct 09, 2019 5:39 pm
smitcat wrote:
Wed Oct 09, 2019 9:29 am
"My wife on the other hand likes fancy things, but that is out of my circle of control, and I try to also keep it out of my circle of concern."
This would indicate a present and future problem - it builds up over time.
DW is on board with us saving on the big levers... Cars, housing, school, no mortgages, so the little things that might slightly bother me make zero meaningful impact on retirement date.

Little stuff like an $85 bottle of shampoo might raise my eyebrow, but I've learned to save my breathe for big stuff.
So all is good - much more to life than a retirement date in our world.
Everyone is different all that matters in that you are happy.
I'm assuming you're including me in "our" there.
Has no bearing whatsoever what I say - only you know if balance is in check in your life.

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wander
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by wander » Sun Oct 13, 2019 3:56 pm

I may sell the Tesla for Honda Civic Type R. But a Honda? No way.

Loik098
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by Loik098 » Sun Oct 13, 2019 4:15 pm

I had wondered when these discussions would start. I believe that the majority of people I know who have bought a Tesla did so because it represents status, not necessarily because it will "save them money over the long run" or "save the environment." Of course, there are exceptions, as noted on this and other threads.

The only way owning a Tesla accomplishes either of the above ideals is for the owner to keep it for many, many years. Otherwise, they should have just bought a Honda.

But, I suspect the majority of Telsa owners will trade up into the next trendy status symbol when the opportunity comes along.

If by "changing philosophy" you mean that you no longer care about status, good for you: that's a sign of maturity. If you no longer care about saving the environment or saving money, then do what you want, because you'll end up doing that anyway.

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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by zlandar » Sun Oct 13, 2019 4:54 pm

Loik098 wrote:
Sun Oct 13, 2019 4:15 pm
I had wondered when these discussions would start. I believe that the majority of people I know who have bought a Tesla did so because it represents status, not necessarily because it will "save them money over the long run" or "save the environment." Of course, there are exceptions, as noted on this and other threads.

The only way owning a Tesla accomplishes either of the above ideals is for the owner to keep it for many, many years. Otherwise, they should have just bought a Honda.

But, I suspect the majority of Telsa owners will trade up into the next trendy status symbol when the opportunity comes along.

If by "changing philosophy" you mean that you no longer care about status, good for you: that's a sign of maturity. If you no longer care about saving the environment or saving money, then do what you want, because you'll end up doing that anyway.
BMW and Mercedes is status. They don't interest me and I would never buy one because of the high cost and absurd maintenance.

Tesla can be status but it's also interesting from a techie point of view. I've never owned an electric-only car. I know I will never get the payback for going electric-only but I never have to worry about gas shortages or oil changes. The auto pilot feature is far from perfect but it's much more advanced than what is available from competing car manufacturers. In ATL the HOV lanes inside the perimeter allow electric-only cars.

squirm
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Joined: Sat Mar 19, 2011 11:53 am

Re: Should I sell or keep my 5 year old depreciated Tesla

Post by squirm » Sun Oct 13, 2019 5:04 pm

Is your Tesla nerfed? Did Tesla cap your battery and charge rate? What's your 100%?

dsmclone
Posts: 379
Joined: Fri Oct 25, 2013 8:50 am

Re: Should I sell or keep my 5 year old depreciated Tesla

Post by dsmclone » Mon Oct 14, 2019 9:49 am

zlandar wrote:
Sun Oct 13, 2019 4:54 pm
Loik098 wrote:
Sun Oct 13, 2019 4:15 pm
I had wondered when these discussions would start. I believe that the majority of people I know who have bought a Tesla did so because it represents status, not necessarily because it will "save them money over the long run" or "save the environment." Of course, there are exceptions, as noted on this and other threads.

The only way owning a Tesla accomplishes either of the above ideals is for the owner to keep it for many, many years. Otherwise, they should have just bought a Honda.

But, I suspect the majority of Telsa owners will trade up into the next trendy status symbol when the opportunity comes along.

If by "changing philosophy" you mean that you no longer care about status, good for you: that's a sign of maturity. If you no longer care about saving the environment or saving money, then do what you want, because you'll end up doing that anyway.
BMW and Mercedes is status. They don't interest me and I would never buy one because of the high cost and absurd maintenance.

Lumping all models together under one manufacturer is probably not a smart choice. There is a lot of difference between a $40k 2 series and a $100k BMW M5. Just like I wouldn't judge Honda off of just looking at a Honda Fit or an Acura NSX, a Toyota Corolla and Toyota 4 runner, etc.

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sunny_socal
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Re: Should I sell or keep my 5 year old depreciated Tesla

Post by sunny_socal » Mon Oct 14, 2019 10:10 am

OP is in California.

Due to the recent multi-day power outage I have changed my mind. You should sell that Tesla ASAP or at least get a 2nd vehicle with a regular ICE engine. (This is the elephant in the room - electrical power is unreliable.)

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