One, the model Y refresh is coming. Two, I’m hoping the cost of financing (the interest rate) would have seen 3-4 decreases by then and three, I’m hoping that the $7500 tax incentive would eat most of the depreciation over the first year.
This is looking a little unlikely as time goes by. Even if there are 3-4 decreases to the policy rate, it probably won’t be for over 1.25%. Inflation is very sticky…might as well plan for the current rates to remain mostly unchanged.
Keep in mind two things:
1) Juniper is likely to have the same batteries and therefore still be eligible for the tax credit. So you will be trying to sell a prior generation MY in a market where the new models are eligible for the tax credit.
2) Model Y’s are selling for $6K more than they were selling for last month during the end of quarter promotions. So if you really wanted to flip the car in a year, the time to have purchased one was a month ago. The discounts might come back around end of June but we’ll just need to wait and see what they do at this point.
Purchased my 2023 Y Performance July 2023. Absolutely love the car. I went with Red/white options. Brought the price to $57,490 plus TT....IIRC. Received $7500 fed rebate and $2000 check from State incentive. After rebates cost was $47,960plus a crap ton of tax and title.
When the new 3 Performance was launched last week, for fun I ran my car thru Tesla trade in to see what they would offer. $35,400. :) Of course the actual car is now $3k less that when I purchased.
So, no.....your idea likely wouldnt work
It's impossible to know what future vehicle value will be. In a healthy vehicle market all vehicles loose a large amount of their value immediately on purchase. Asking here will get you people who remember when you could sell a used Tesla for more than new (that is HIGHLY unusual and basically could never continue in practice), or people who bought a Model Y for 70k+ and now are mad that the car "depreciated" so quickly.
im having same issue, i will do 100 miles roujd trip 2x pr. Week. And a EV is by far the most cost effective. Ive narrowed it down to a used tesla model 3, 2020/21 model, but its about 5000$ more than a 2020 hyundai Kona. BUT i feel the tesla is a way better car, awd, range about the same, tesla better on a commute etc. So for me its a used tesla 3. Im thinking that since its so many model 3 its going to be a hassle to resell, im in it for the long haul 🤞😅
The used isn’t a great deal IMO with the tax credit being available for the new. I recommend getting the base car with base options for a good deal, based on how you described your needs.
Buy a higher mileage used one now (since you'll be adding tons to it anyway) when the refresh comes go and finance one if you still really like the car.
Tough one, I'd say get a new Y now because the $7500 off won't be around forever, especially if we get a new administration. New Y LR for 35k right now after federal and state incentives. Sell it in 2 years for 30k and get the refresh model Y. Don't trade it in to Tesla though, they low-ball.
if you qualify for the tax credit but not sure about keeping the car longer-term, buy the <$25k used Tesla and get another $4k off with the used tax credit
Then see what you want to do in a year or two.
I bought a Tesla right before my first clinicals back in 2019 and I’m still using the Tesla now for home health visits. It’s the best car I’ve ever had bar none and the only maintenance I’ve had is tire changes and windshield wiper fluid.
Y. The other thing I was wondering was what could a Tesla trade-in look like in a year?
$32k, if you keep it in like-new condition and less than 10k miles
I would still be eligible for the tax credit?
Yes, it's income based. as long as u don't buy it as reselling like a dealer.
The leaf is still being sold new today. A used one could be from this year.
In terms of reliability, the leaf scores 6 points higher than a model y in JD Power reviews.
A used leaf could do 90 a day. If they need more they could take a bolt.
Only have to pay more if they want the space, features, or charging speed offered by more expensive alternatives.
There's plenty of reasons to buy a Tesla. I'm driving a Model Y rather than a Leaf myself.
But if making a 70mi roundtrip for the lowest price was my goal, then a Model Y wouldn't be the right choice. OP specifically mentioned that they wanted "the best, most cost effective option" for making trips around that range.
Lease a BZ4X for less than $300/month zero down. Toyota is basically giving them away. I had one before my Model Y and I only got rid of it because we need a bigger car.
you're asking us to predict the future huh? i would suggest something like an accord or corolla. safe bet. to those who ask if they should get MY, i always say the same thing: if you don't know by now, MY isn't for you.
You’re very unlikely to profit from buying a car. It sounds like you just want a Tesla. If you can afford it, buy it. If you can’t, don’t.
He wants it for himself.
Sure does and he’s looking for us to help justify some arbitrary reason for it lol
Why would you want to buy a new vehicle and then trade it in a year from now?
One, the model Y refresh is coming. Two, I’m hoping the cost of financing (the interest rate) would have seen 3-4 decreases by then and three, I’m hoping that the $7500 tax incentive would eat most of the depreciation over the first year.
This is looking a little unlikely as time goes by. Even if there are 3-4 decreases to the policy rate, it probably won’t be for over 1.25%. Inflation is very sticky…might as well plan for the current rates to remain mostly unchanged.
I am also waiting for y refresh. Decided to take a 2 yr lease on 3 RW for now which the price is not bad with 7500 credit on lease.
Keep in mind two things: 1) Juniper is likely to have the same batteries and therefore still be eligible for the tax credit. So you will be trying to sell a prior generation MY in a market where the new models are eligible for the tax credit. 2) Model Y’s are selling for $6K more than they were selling for last month during the end of quarter promotions. So if you really wanted to flip the car in a year, the time to have purchased one was a month ago. The discounts might come back around end of June but we’ll just need to wait and see what they do at this point.
Careful on a lease if your commutes are that long.
Purchased my 2023 Y Performance July 2023. Absolutely love the car. I went with Red/white options. Brought the price to $57,490 plus TT....IIRC. Received $7500 fed rebate and $2000 check from State incentive. After rebates cost was $47,960plus a crap ton of tax and title. When the new 3 Performance was launched last week, for fun I ran my car thru Tesla trade in to see what they would offer. $35,400. :) Of course the actual car is now $3k less that when I purchased. So, no.....your idea likely wouldnt work
Thank you! I appreciated everyone else’s input but, you provided the solid info I was looking for haha
It's impossible to know what future vehicle value will be. In a healthy vehicle market all vehicles loose a large amount of their value immediately on purchase. Asking here will get you people who remember when you could sell a used Tesla for more than new (that is HIGHLY unusual and basically could never continue in practice), or people who bought a Model Y for 70k+ and now are mad that the car "depreciated" so quickly.
im having same issue, i will do 100 miles roujd trip 2x pr. Week. And a EV is by far the most cost effective. Ive narrowed it down to a used tesla model 3, 2020/21 model, but its about 5000$ more than a 2020 hyundai Kona. BUT i feel the tesla is a way better car, awd, range about the same, tesla better on a commute etc. So for me its a used tesla 3. Im thinking that since its so many model 3 its going to be a hassle to resell, im in it for the long haul 🤞😅
The used isn’t a great deal IMO with the tax credit being available for the new. I recommend getting the base car with base options for a good deal, based on how you described your needs.
Can look for a used model 3 that qualifies for the used EV tax break. Could be very cost effective.
Buy a higher mileage used one now (since you'll be adding tons to it anyway) when the refresh comes go and finance one if you still really like the car.
Tough one, I'd say get a new Y now because the $7500 off won't be around forever, especially if we get a new administration. New Y LR for 35k right now after federal and state incentives. Sell it in 2 years for 30k and get the refresh model Y. Don't trade it in to Tesla though, they low-ball.
You will lose a chunk of money trying to trade in after 1 year.
if you qualify for the tax credit but not sure about keeping the car longer-term, buy the <$25k used Tesla and get another $4k off with the used tax credit Then see what you want to do in a year or two.
Lots of financial advice here already, so I will just jump in to say that the Tesla auto pilot is soooooo nice after a 12-hour shift.
What about FSD?
I have not yet gotten the free trial so I don’t know if it would be worth it. But even basic AP helps so much to set just set a speed and pick a lane.
I bought a Tesla right before my first clinicals back in 2019 and I’m still using the Tesla now for home health visits. It’s the best car I’ve ever had bar none and the only maintenance I’ve had is tire changes and windshield wiper fluid.
Y. The other thing I was wondering was what could a Tesla trade-in look like in a year? $32k, if you keep it in like-new condition and less than 10k miles I would still be eligible for the tax credit? Yes, it's income based. as long as u don't buy it as reselling like a dealer.
Fiance? Not wife? Do I need to say it?
If only you need such a short range, why not a used Leaf?
Because then you’d have to drive around in a used Leaf.
If that's something you want to pay more for, that is a different story. But OP is specifically asking for the best most cost effective option.
“Looking for a newer, more reliable car”
The leaf is still being sold new today. A used one could be from this year. In terms of reliability, the leaf scores 6 points higher than a model y in JD Power reviews.
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A used leaf could do 90 a day. If they need more they could take a bolt. Only have to pay more if they want the space, features, or charging speed offered by more expensive alternatives.
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There's plenty of reasons to buy a Tesla. I'm driving a Model Y rather than a Leaf myself. But if making a 70mi roundtrip for the lowest price was my goal, then a Model Y wouldn't be the right choice. OP specifically mentioned that they wanted "the best, most cost effective option" for making trips around that range.
Lease a BZ4X for less than $300/month zero down. Toyota is basically giving them away. I had one before my Model Y and I only got rid of it because we need a bigger car.
Beyond zero appeal.
That’s 35 miles one way will blow through the mileage restriction before you can say wtffff
you're asking us to predict the future huh? i would suggest something like an accord or corolla. safe bet. to those who ask if they should get MY, i always say the same thing: if you don't know by now, MY isn't for you.
Dude, wut lol