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The Cost of Selling Your Tesla and Buying a Newer Model

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With Tesla constantly releasing new updates, it’s inevitable that your newly purchased Tesla will one day feel outdated. A prime example would be the flood of RWD Model S’ that hit the second hand market after Tesla announced that it would release the dual motor “D” variant. And now with the Model X available, Model S owners are thinking about trading in their beloved electric sedan for the newest shiny Tesla with falcon wing doors.  I would be one that falls into this category. Here’s my analysis on what it would cost to upgrade to a newer Tesla.

A short while ago I configured a Model X and a Model S to specifications that I would buy in present day. This came out to $103,200 and $88,450 respectively after available tax credits. For reference my current Model S cost me $92,443 after tax credits.

Understandably, Tesla does not offer a retrofit for the autopilot hardware though we calculated a hypothetical $67,000 cost to upgrade if it were available. Maybe one day Tesla will offer upgradeable hardware but for now having recurring firmware updates that refreshes functionality on the car isn’t so bad.

Trade Ins

If I were to use Tesla’s math to compute trade in value for my 21 month old Model S with 55,000 miles, it would theoretically have a value somewhere along these lines:

Trade in calculation

This math is clearly not accurate, and since I was seriously considering the Model X or a newer Model S, I asked Tesla for a true trade in value.

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Tesla came back with a trade in value of $49,200. Their resale price as a CPO vehicle would be $55,100:

Trade In Value

This is a heck of a lot better than the original formula, but I’ve still used 48% of the original value in less than 2 years. At this trade in value, the effective cost of trading up to new X or S would be $54,000 and $39,250, respectively.

CPO Comparisons

My trade in value made me curious on what other CPOs sold for so I hit up the excellent EV-CPO Consolidator which provides a great deal of information about Tesla CPO cars.

Browsing that site you’ll be hard pressed to find a 2014 Model S with anything close to my mileage. The closest I found was a 2014 Model S in Los Angeles with 48K miles listed for sale at $55,600, just a bit above the quote I got. I don’t know if that car is in as good a shape as mine (I’ve seen some really beat up CPO cars), but the pricing, age and configuration are at least consistent with my quote.

As you’d expect mileage and available features make the most difference in the CPO price. 2014 S85 model CPO prices can range from a low of $55,600 to $79,200 for a low mileage, late 2014 loaded Model S. Within New England the range is only from $56,200 to $67,400.

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Kelly Blue Book

KBB Trade inNext stop was Kelly Blue Book. Their trade in value came in between $49,305 and $57,740 with an average of $53,549. My Model S, before taxes, was $93,970. So the trade in price per Kelly Blue Book is 57% of the original price.

If you believe the KBB quote, Tesla is on the low end of the trade in values. This seems to be consistent with some posts I’ve seen on TMC and the Tesla forum. If you find your own dealer and trade directly with them you can potentially increase your trade in value by up to $5,000. If you sell privately you may be able to get up to $10,000 more over Tesla’s offer.

Selling privately however can bring its own set of problems, especially in states like Massachusetts where there are strong Lemon Aid Laws that allow individuals to buy a car, drive it for 7 days and then bring it back for a 100% refund if for some reason there’s an issue with state inspection. Selling privately also comes with a huge commitment to arrange for test drives and educate your driver on how to operate an EV. Here in New England EVs aren’t everywhere yet and the Tesla is still a rare car to see.

Competitive Comparisons

To see how other cars “in the same class” compare to the Model S in terms of trade in value, I picked the Porsche Panamera S. E-hybrid to benchmark against. The average trade in value for that car is $53,746 which is very comparable to my Model S. Configuring a Panamera will drive you crazy but it seems that a new one similarly configured would go for $95,270 before taxes. So the trade in price per Kelly Blue Book is 56.4% of the original price, which is about the same as the Model S.

According to EVObsession, the Mercedes S-Class was #1 in the Large Car Luxury Market in 2014, but the Model S blew past that in 2015. I came up with a new price of $91,328 and an average trade in value (same mileage/year as mine) of $57,782 or 63.2% of the original price — the Mercedes seems to retain a bit more value although they’re still in the same range.

Summary

That very first mile you put on your new car has a huge effective cost whether it’s on a Tesla or any other car from a different manufacturer. Trade in values for Model S’ are in line with other cars in its class, although Tesla’s trade in value tends to be on the lower end of the spectrum.

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If you’re looking to get top dollar for your used Model S, consider trading it in to a company other than Tesla or selling your Model S privately. Both bring additional levels of hassle but that extra lift can be worth the additional value.

Even if I were to receive $5,000 over Tesla’s trade in value, I’d still be looking at an upgrade cost of over $30,000 to trade up from my Model S (which is less than 2 years old) to a new dual motor Model S with  autopilot, upgraded seats, and all of the other improvements and tweaks Tesla made over the last couple years. Is it worth it?

If the gap was closer perhaps the decision would be a lot easier, but in this range for me, and with the recent news that Tesla will be adding more autopilot hardware in the future, I think keeping my Model S and enjoying it is the right way to go.

Besides, with more Model Xs hitting the streets every day, the all wheel drive “D” Model S will inevitably start appearing as CPO inventory. This will open up a whole new world of options. Wait and see is probably still the best choice for those looking to trade up from an earlier Model S.

 

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"Rob's passion is technology and gadgets. An engineer by profession and an executive and founder at several high tech startups Rob has a unique view on technology and some strong opinions. When he's not writing about Tesla

Lifestyle

Tesla Cybertruck takes a bump from epic failing Dodge Charger

The Cybertruck seemed unharmed by the charging Charger.

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Credit: Hammer_of_something/Reddit

There comes a time in a driver’s life when one is faced with one’s limitations. For the driver of a Dodge Charger, this time came when he lost control and crashed into a Tesla Cybertruck–an absolute epic fail. 

A video of the rather unfortunate incident was shared on the r/TeslaLounge subreddit.

Charging Charger Fails

As could be seen in the video, which was posted on the subreddit by Model Y owner u/Hammer_of_something, a group of teens in a Dodge Charger decided to do some burnouts at a Tesla Supercharger. Unfortunately, the driver of the Charger failed in his burnout or donut attempt, resulting in the mopar sedan going over a curb and bumping a charging Cybertruck.

Ironically, the Dodge Charger seemed to have been parked at a Supercharger stall before its driver decided to perform the failed stunt. This suggests that the vehicle was likely ICE-ing a charging stall before it had its epic fail moment. Amusingly enough, the subreddit member noted that the Cybertruck did not seem like it took any damage at all despite its bump. The Charger, however, seemed like it ran into some trouble after crashing into the truck.

Alleged Aftermath

As per the the r/TeslaLounge subreddit member, the Cybertruck owner came rushing out to his vehicle after the Dodge Charger crashed into it. The Model Y owner then sent over the full video of the incident, which clearly showed the Charger attempting a burnout, failing, and bumping into the Cybertruck. The Cybertruck owner likely appreciated the video, in part because it showed the driver of the Dodge Charger absolutely freaking out after the incident.

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The Cybertruck is not an impregnable vehicle, but it can take bumps pretty well thanks to its thick stainless steel body. Based on this video, it appears that the Cybertruck can even take bumps from a charging Charger, all while chilling and charging at a Supercharger. As for the teens in the Dodge, they likely had to provide a long explanation to authorities after the incident, since the cops were called to the location.

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Anti-Elon Musk group crushes Tesla Model 3 with Sherman tank–with unexpected results

Ironically enough, the group’s video ended up highlighting something very positive for Tesla.

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Credit: Led By Donkeys/X

Anti-Elon Musk protesters and critics tend to show their disdain for the CEO in various ways, but a recent video from political action group Led By Donkeys definitely takes the cake when it comes to creativity.

Ironially enough, the group’s video also ended up highlighting something very positive for Tesla.

Tank vs. Tesla

In its video, Led By Donkeys featured Ken Turner, a 98-year-old veteran who served in the British army during World War II. The veteran stated that Elon Musk, the richest man in the world, is “using his immense power to support the far-right in Europe, and his money comes from Tesla cars.” 

He also noted that he had a message for the Tesla CEO: “We’ve crushed fascism before and we’ll crush it again.” To emphasize his point, the veteran proceeded to drive a Sherman tank over a blue Tesla Model 3 sedan, which, of course, had a plate that read “Fascism.” 

The heavy tank crushed the Model 3’s glass roof and windows, much to the delight of Led By Donkeys’ commenters on its official YouTube channel. But at the end of it all, the aftermath of the anti-Elon Musk demonstration ended up showcasing something positive for the electric vehicle maker.

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Tesla Model 3 Tanks the Tank?

As could be seen from the wreckage of the Tesla Model 3 after its Sherman encounter, only the glass roof and windows of the all-electric sedan were crushed. Looking at the wreckage of the Model 3, it seemed like its doors could still be opened, and everything on its lower section looked intact.

Considering that a standard M4 Sherman weighs about 66,800 to 84,000 pounds, the Model 3 actually weathered the tank’s assault really well. Granted, the vehicle’s suspension height before the political action group’s demonstration suggests that the Model 3’s high voltage battery had been removed beforehand. But even if it hadn’t been taken off, it seemed like the vehicle’s battery would have survived the heavy ordeal without much incident.

This was highlighted in comments from users on social media platform X, many of whom noted that a person in the Model 3 could very well have survived the ordeal with the Sherman. And that, ultimately, just speaks to the safety of Tesla’s vehicles. There is a reason why Teslas consistently rank among the safest cars on the road, after all.

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Tesla Model 3 driver is using FSD to travel to Mt. Everest Base Camp

The ambitious, nearly 4,000-kilometer (2,485-mile) Tesla FSD journey is being livestreamed on Chinese social media.

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Credit: Douyin 老高懂电车

Count on Tesla drivers in China to push Full Self Driving (FSD) as far as it could go. As could be seen in videos posted on Chinese social media, a brave Model 3 owner is currently going on an epic journey from Henan Province to the base camp of Mt. Everest on FSD.

Recent posts from the Model 3 driver suggest that the ambitious destination may be within reach.

Epic FSD Journey

As noted by Tesla owner-enthusiast Aaron Li, the journey from Henan Province to the base camp of Mt. Everest spans almost 4,000 kilometers (2,485 miles). The journey itself is epic, with stunning vistas and roads that require some drivers to bring oxygen canisters with them. The fact that it is being done using FSD makes it extra impressive. 

Based on the videos that have been recently shared, the Model 3 running FSD seems to be nearing the Everest Base Camp. There seems to be a good chance that the Tesla Model 3 may reach its destination this Friday.

Previous Everest Trips

This is not the first time that a Tesla has driven to Mt. Everest’s base camp.  That would be a Model 3 that was driven in September 2020. That vehicle, which went on a long 5,500 km (3,400-mile) journey, was manually driven to its destination. 

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In April 2021, Tesla China announced that it has completed the buildout of 11 Supercharger stations in the picturesque route from Chengdu to Tingri. This route would allow drivers to reach the base camp of Mt. Everest. Sure enough, in July 2022, Tesla China shared a video of two Teslas—a Model X and Model Y—reaching the Everest base camp without any issues. Numerous other Tesla drivers have since taken on the long, picturesque journey.

Check out this Tesla Model Y’s journey to the Mt. Everest base camp in the video below.

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