Taking My Tesla Model 3 to CarMax - Guess How Much They Offered?
HTML-код
- Опубликовано: 18 янв 2018
- CarMax had never seen a Tesla Model 3 before I took mine there. Get these updates in your inbox at teslanomics.co/join
I'm a big fan of numbers, and in terms of car ownership, there are none more important than depreciation. Some cars depreciate upwards of 20% from the moment you drive them off the lot.
So exactly 1 day after taking home my Tesla Model 3 I thought it would be fun to find out EXACTLY how much money I lost. I know some of you will argue I could sell it for more because of the scarcity, YOUR'E RIGHT, however, for all other cars, this is not true. SO I thought this would be fun to find out what CarMax would offer.
What did you think of the result? Was it higher or lower than you expected? Leave me a comment and let me know.
// New here? Check out more
Most Recent Video - goo.gl/k3pWlt
Most Popular Video - goo.gl/jydACR
Subscribe - goo.gl/tPDO7v
// Want to Support the Show?
Join us on Patreon! teslanomics.co/patreon
// Shoot me a msg online
fb teslanomics
tw / teslanomicsco
// My Gear
Books kit.co/teslanomicsco/books-i-...
Tech kit.co/teslanomicsco/tech-gear
Camera - kit.co/teslanomicsco/camera-gear
What is the Tesla Model 3? (wikipedia)
The Tesla Model 3 is a mid-size all-electric four-door luxury sedan manufactured and sold by Tesla, Inc.[1] According to Tesla officials, the standard Model 3 delivers an EPA-rated all-electric range of 220 miles (350 km) and the long-range model delivers 310 miles (500 km).[7] The Model 3 has a minimalist dashboard with only a center-mounted LCD touchscreen.[11]
Within a week of unveiling the Model 3 in 2016, Tesla said, they had taken 325,000 reservations for the car, more than triple the number of Model S sedans sold by the end of 2015. These reservations represent potential sales of over US$14 billion.[12][13] By August 2017, there were 455,000 net reservations, and an average of 1,800 reservations were being added per day.[14][15]
Limited production of the Model 3 began in mid-2017, with the first production vehicle rolling off the assembly line on July 7, 2017,[16][17][18] and the official launch and delivery of the first 30 cars on July 28.[19] In October, Tesla produced 145 Model 3s, and in November, that number increased to 345, bringing the total produced up to 712.[20] At that time, Tesla's target for making 5,000 vehicles per week was March 2018[21][22] but by early 2018, that was extended to the end of June.[23]
One of the unique features of the Model 3 is the claim that it carries full self-driving hardware to be optionally enabled at a future date.[24][25][26]
The Model 3 was codenamed Tesla BlueStar in the original business plan in 2007.[35][36] The name Model 3, originally stylized as "Model ☰", was announced on Musk's Twitter account on July 16, 2014,[37] however, the intended name was Model E that was abandoned due to Ford's trademark on the name; Musk wanted the three current models to spell SEX, but settled with "S3X".[38] In early 2017, after trademark opposition from Adidas,[39] the triplicate horizontal-bar stylization was abandoned and changed to a numeric "3".[40]
The company plans for the Model 3 are part of Tesla's three-step strategy to start with a high-price vehicle and move progressively towards lower-cost vehicles, while the battery and electric drivetrain were improved and paid for through the sales of the Roadster, Model S, and Model X vehicles.[41]
Ref Clips
Howard Dean Scream - • Howard Dean reprises h...
Stewie Say What - • Video
Bill & Ted - • Bill and Ted Meme "NO ...
Music by Epidemic Sound 
Наука
How could you do that to Tez?!? You know she has cameras, and navigation. She knows where you took her!!! It's like taking your kids to an orphanage just to see if they'd want them.
Bad Tesla Daddy.
Message to Tez: "Honey, you have FSD programming. If you want me to activate it for you I will, and you can drive yourself to my house. I promise to love you, and never take you to that bad place again."
I’m surprised that they didn’t value the fact that a “used” buyer would not have to wait a year to get one. To my way of thinking, I would think that would garner around $10K.
Can you please do a highway cruise at 65mph for a solid hour on mostly flat ground and report the Wh/mile? I'm planning on doing a lot of long drives and want to know the real world numbers.
A guy w a solar trailer showed those calculations for his experiment whether solar could run the car.
I would be careful with Carmax, they offered us $1,200 for a used car that we sold on the street for $3,000 the very next day... Also they knew you will be making a video about it and there was close to zero chance you wanted to actually sell it, so consider it as PR price that they gave you....
agreed
Well hey have to make money so ..
Carmax isn’t primarily in the business of buying (or selling) $1,200 cars. Also, you need to understand that Carmax offers you a wholesale price and then sells the car at a retail price so they make the difference for themselves.
When you sold it on the street, the buyer didn’t have to turn around and sell the car at a profit the next day. Obviously you’ll get more if you sell to the end user versus if you sell to a reseller.
A fair comparison is to compare Carmax to what car dealerships offer you. And, not as a trade in where they can offer you $8,000 for your used car and then just overcharge you by $7,500 on the new car you buy.
I don't think they knew he was making a video.
of course they knew, they told him not to film inside
Right now "used" model 3s are selling for more than new, so this probably isn't a great test. Will be very interesting in 6-12 months from now.
I'm confused. Carvanna has "used" Teslas with 300-500 miles on it. For more than new price... Are they buying them to try to control the market...
I love the clips you use in the videos, keeps them spicy and great! Keep it up!
I used to work in a fairly wacky corporate IT department - one of our ongoing gags was to build towers in NYC & LA high enough to be able to coast our cars between them - you could work this concept in a proposal to a civil-engineering firm along with the new reality of regen-braking
@Marc Horowitz - hmm interesting. You may want to patent this idea 🤔
I think you could sell it for much more than $50 000 just because they are rare right now and many people want them. There even was a Model 3 for sale for over $100 000.
he can definitely make more then 50k easy. ITs in demand and limited in stock..Apply that for anything but this tesla thats like simple business right there. Supply and demand. Carmax is lowballing.
$100k for a Model 3 is pretty ridiculous. Keep in mind that what people ask for and what they get are 2 different things. Traders like to "fish" for overpaying idiots. It's a no-lose game - If they ask $100k and get it then great for them; if they get a more sane price then they're not out anything. If you don't try you don't get. Internet prices and real prices are not always the same!
but i could get a much more well equipped model s or x for around that much..
With Model S out there who the hell wants a Model 3 lmao. Its not even AWD if people want that feature
maerklin29800 if that was the case then I'd rather go with the Model X for 100,000
I'm more interested in what you would get if you posted the car on AutoTrader or CraigsList or ebay.
Hi Ben, love your video and data breakdown. I would love to see you do a video on the wheel with the hubcap on vs removing it to see if it does get a saving of about what 10% range?
Quinten M on the list
35k? C'mon Ben that was way too low of an estimate and you know it!
You clearly said early in the video that it's common to lose 20-30% of the car's value off the lot. Your 35k estimate was more than 35% value lost, while CarMax's offer of 42k was a much more appropriate 22% value lost. That's a huge difference. "Free the data and your mind will follow" ;)
Hi Ben, I like your Videos! :) In Germany it's not possible to order a Model 3 yet. Could you make a driving video in the city and/or on the highway and give an impression about the display and the missing screen behind the steering wheel?
I am a licensed car dealer in Georgia ... I can tell you not 1 of these has been sold at the auction yet as I just looked it up. The offer they gave you is because of the demand and novelty of them having one of the first in the nation to be offered outside of Tesla. If you indeed did want to sell it I would interested!
Love your work! Since there is a long time until I in Denmark get to see and maby drive a Model 3, I would love for you to introduce the car to some people that are not fans nor against Tesla cars or EV's, but people that just se a car as a means of transportation. And then get their opinion of the car a just-a-car. Thanks!
Maybe it's a good price because of the reservation queue for a new Model-3, If someone decided today they wanted a model-3, it's either CarMax (assuming they'd bought yours) or an 18? month wait. And they want it now then its the second hand market, right?
Not sure how it works in your location but in Toronto, Ontario you don’t get the 14K until 6months after purchase to avoid people taking advantage of the provincial perks.
Put the 3 on Ebay with a hidden reserve of $75k and see what happens.
It would sell
Then nothing happens.
Do it and watch your Listing expire with no bids...over and over again.
This video had me thinking of Ferris Bueller where the CarMax guys would be joy riding around in your car. 😱
Luv CarMax & I'm not a big fan of car dealerships overall but, good vid!
Im tempted to buy the P100 and forget the autopilot upgrades along with the interior and wheel upgrade. Do you guys think it would be worth it?
With 500,000 people waiting in line you could sell it for retail in a heartbeat.
I wanna be part of the family but I won't be getting my Model 3 till at least September since I'm going for the all wheel drive version. When's everyone else getting theirs?
Ben hope to see lots of videos with your model 3
really really liked this video. and im glad you made it. the numbers dont lie!
I would think that they will give you more? After all its one of the most desirable cars out there and supply is limited right now.
I don't know if that exists in the USA but in Europe (or at least in Germany) it's possible to get a car with a 'daily registration'. Which means formally the car is already registered and thus the depreciation already happend. (like you said, around 20%) However the car still brand new, only that the car dealer is recorded as the previous owner, since he 'owned' this car for that one day.
The only downside to this is, that the car might not be available right away, it might be located in a warehouse all around the country which the car dealer shares with many other dealers. So you might have to wait a few days for delivery.
Interesting
Just watched part of your python course on Lynda, and lo and behold I find you making Tesla videos on RUclips
Congratulations on your new Tesla model 3. Please share with us more videos of your car.
Excuse me, whats a TeZla???
Now being 9/2019 I wonder what they would give you for the same vehicle. Sure it's in there system also. Might be worth doing a second video on your model 3.
How about doing a cross-country road trip with your model 3? Would love to be a part of that experience.!
no time :(
I am also surprised at the generous estimate. Do you think limited stock or obscurity inflated the price?
That's what I was thinking too.
I bet he could probably sell it privately for more than he paid because of the long cue.
I'm surprised there are still no POV style driving videos for the 3 like the Winding Road does. People wanna know how it feels to be behind the wheel specially now that we don't have an instrument cluster to look at.
How do you guys get enough money for buying this beautiful cars?😭 I started doing Social Media Marketing for businesses since August 2017 but so far I've made just $35,000. California does have more money than Texas! Maybe I should start lookinh for clients on that state.
Please do this with your roadster
guaranteed
I bet they really appreciate people just coming in for the purpose of making a video.
60k!?! Wow. My MX was 90. Is the 30k difference worth it?
I ordered my Tesla Model 3, 3 days later from the announcement of the Model 3. Put $1000 down. Accepted the offer on March 18, 2018.
Here is my main question: Do I get the FSD hardware upgrade 3.0 at no cost? From what I can tell, it shows I have to pay $4000 more to upgrade the hardware. I am so confused.
I ask this because the Tesla App shows that I can upgrade to Full Self-Driving for $4000
It would give the following features:
Navigate on Autopilot
Autopark
Smart Summon
Traffic-Aware Cruise Control.
It was my understanding that I purchased the car with Full Self Driving, but he invoice shows it as Enhanced Autopilot.
Even more confusing, I have all of the above features, but It is version 2.5 Hardware, so with the latest update 2019.40.50.7, I don't get the preview of the stop signs and traffic lights.
I ordered the following:
Model 3 $35,000.00
Rear Wheel Drive -
Black Interior -
Pearl White Multi-Coat $1,000.00
19’’ Sport Wheels $1,500.00
Long Range Battery $9,000.00
Premium Upgrades $5,000.00
Enhanced Autopilot $5,000.00
Subtotal $56,500.00
Destination Fee $925.00
Documentation Fee $75.00
Order Modification Fee $0.00
Vehicle Total $57,500.00
Please make a video tour of your model 3!
Doug Demuro is probably the RUclipsr most famous for his CarMax hijinx. Great video, Ben!
Matthew Mark Miller I'm a fan of his!
Now go back to Tesla and ask how much they will give you for it in trade for a model X. Will it be more or less than $42,000?
Tesla will honor Carmax's quote
farhan orakzai, I think Tesla Model S/X has a minimum value guarantee, but I don’t know how that is calculated. I think Ben was just getting content when he got the $42,000 quote on his $56,000 model 3.
I hope we can get some of these people who bought, owned, sold a Tesla to give some data.
IMHO unfortunately Tesla doesn't offer the minimum value guarantee anymore
farhan orakzai. But that program ended June 2016, and Ben may have bought it before then through one of the financing partners required to qualify. Basically the program seemed like it was just using the mechanism of a 3-year lease residential value, and they front loaded the cost in the loan. So Tesla says they discontinued it so they can offer lower interest rates. I’m not sure if “50% of the base value” after 3 years was that good, but for early adopters I guess it gave peace of mind.
@@farhanorakzai8872 Yes but CarMax quotes lower than Tesla so there is no loss there. Too bad Tesla won't match CarFAX
Funny episode. I’d enjoy more of them from y’all.
Car Max appraisal is high because there are so few Model 3’s on the road just yet and as time goes by and the numbers increase then the demand will lower a bit. Also you must consider the wait time to get one at this point in time, however that might take some time before it becomes less!! Just put it in your garage up on blocks and wait till the Model 4 comes out. If the build is of less quality the value of the Model 3 could rise if they stop making them!!!
In 1973 I bought a brand new AMC Hornet X Hatchback. It had 2,000 miles on it all driven by the dealer's wife. I bought it from the dealer with the new car warranty which included 4 oil changes and a bumper to bumper warranty on all parts and labor until the odometer hit 17k. 20% cheaper than the very same car, same dealer, same colors and options with 1 mile on the odometer. The host is rather naive'. New car dealers of all brands give similar discounts for "new" cars with under 5k on the odometers. Usually the cars are loaners or leases which were terminated or converted to a new car sale. For what the host paid for his Tesla he could have purchased two fully equipped Civic Hybrids which get 40mpg plus on gasoline now priced in most of America at 1.50 - 1.84$ a gallon
To get the $7500 tax rebate you have to own the car for one year and not use it for commercial or business purposes. I have 2 model 3 offers ready to order emails from Tesla but no money to buy so i have been sitting on those offers since 3 weeks now in Seattle WA
That's were I work!! That specific store in San Diego!! 😁
So, CarMax is named incorrectly. It should be named CarMin.
Andrew .Trites 🤣
That's WAY too greedy. CarMax could sell it the next day for ATLEAST the MSRP and probably thousands more than that because people pay extra to not have to wait. Sorry CarMax but $20k fast profit off of 1 sale is WAY too greedy.
I guessed 42k before watching the video and was spot on! not a bad appraisal for the new M3.
Really? Just $42K. They could sell it in 24 hours for over $100K on eBay!
no, there aren't that many who just want to pay 60k to just get it a few month earlier. if you have that cash you can have other cars
tobias merz There are a lot of crazy people with too much money. Someone would buy it. It just takes one.
usaverageguy why wouldnt they just buy a model s? Its better anyway.
Because you can't get one, that's why.
tobias merz I mean there are people who bought the iPhone X for well over $3000 ($1000 is the original price). Even though they could have just waited a couple of weeks.
They know they can turn this around at the original sticker price in a heartbeat.
Thats a trade in value though. The real value is set by the market. You can probably sell it for more than you bought it for. Carmax offered me $8200 for an acura TL I sold it for $16500
I’m not feeling the CarMax love. Essentially they offered a 30% loss on a car in extremely high demand with 100 miles on it. Who in their right mind would take that? Thanks Ben for doing it, but CarMax.....not so much.
Stan Clark businesses are there to make money, not give an equal trade.
Whatever you feel the car is worth or what it can sell for to another buyer, that's probably near the max carmax can sell it for. They need to make money on top of what they bought it for to pay rent, employees, all the paperwork and other legal stuff, etc.
nambinhvu I have no problem with the CarMax business model. I just think buying it at $48K and selling it at $52K is enough profit for a car that will sell in about 30 seconds.
Stan Clark Too bad, they follow their business model, doesn't matter how high in demand or how quickly it'll sell. That's what happens when you have employees that don't control the system. You can't all of a sudden on your own say, today I expect a lot of customers, so I'll sell them burgers half price. You'll have to ask your boss, and your boss will have to ask the people higher up. They don't control how the system works. The only way he can get more is if the employee tells someone that wants the car and then pay extra under the table so they can lie to hold it for that person.
"extremely high demand"...Is that what you call a car with less than 500k pre-orders world wide on a planet with Billions of people.
Not sure why a 42k offer on a 56k car is noteworthy. That's 75% by the way.
I priced a 2018 BMW X4 in excellent condition with 100 miles on the odometer. The car retailed for 59K and KBB estimated it would bring 45-49k as a trade. That's somewhere between 76 and 87%
Which is not to say I'd be happy losing even 13% on a day old car I'd only driven 100 miles.
I’ve only seen a few videos of yours so far and I’m noticed you speaking Spanish during delivery of the Model 3. How long have you seen speaking?
3 yrs mas o menos
Teslanomics by Ben Sullins oh that's great!.
ok entonces como te interesarte en el idioma español?, como inicio tu interés por aprenderlo y enseñárselo a tu hijo?
One thing you didn't mention is that Tesla guarantees their vehicles resale value. If you sell your Tesla and it is below the gurantee amount from Tesla, they will give you the difference. Dealerships know about this so make sure you're not getting ripped off selling below that resale value
Thanks for this. Very interesting.
100 miles only 42K still low. In general rule of 👍 carmax generally always offers 10K less the car is really worth. Cool video
Is radar detection a standard feature?
It would be $4500 loss, not including taxes, because the California rebate has a stipulation you have to hold onto your car for 30 months. You would have to refund Cali back that $2500. I have always been impressed by the offers I received from Carmax. They are much better than what quotes I received from dealers.
Great idea. Like to see what they'd give for an Audi or BMW with 100 mi.
Surely a tesla 3 has a huge waiting list and so a "almost" new will sell more than list price. We saw this with the Mini when it first came out. So many people want to buy one they will pay more than the new price for it.
Count on the $12,000 hit because I don’t think you would be eligible for tax incentives if you only owned the car a week.
Plus the waste of sales tax $
valid point. hope your comments get more attention. One more thing what about sales tax levied during the second sale from Automax to the buyer. Is there a way to set off this against the sales tax paid during the initial purchase from tesla ?
Not too bad...
Teslanomics by Ben Sullins+ I subscribed, liked, and commented your video. Well played sir well played..... :)
Also a wholesale offer, meaning they can sell it for much higher.
Cool wheels, had the same on my 92 civic
Icarus 🤣
its the one year wait list that means they will give you that much. Second they rightly assumed that it was a publicity stunt and that they are probably better to offer as high as they dare it looks good on camera knowing that chances are they will never have to actually pay the money. I am shocked they did not want you filming on site more publicity.
test out the supercharger rate vs cost; and try it at differing percentages
coming soon, already shot this...
Hi Ben. I’m a happy subscriber and I enjoy your videos. But one thing: Elon might sound like he says “Tezla” ;however, the proper pronunciation of the man the company is named after is “Tess-lah”. This is his how the living Serbian descendants still pronounce the name. With an “s” sound. Tesla.
Just sayin’.
+Bobby MacDowell lol
I agree too many people use a z.
Ben -- I have to agree on this one. It just sounds cooler with an S than it does with the lazy z.
I agree. It's like someone saying something that has grease on it as "GREEZY" as opposed to "GREASE-EE" Drives me crazy!
100% agree. It's one reason I don't watch more of your videos! I cringe when I hear the Z
Are the aero wheels growing on you?
after seeing some efficiency numbers on them YES, but still won't keep them
Question: when promised 35k model 3 will be available?
In my opinion, that company is in the realm of a pawn shop. They will undercut well beyond kbb, other trade in, let alone private sale. They are not just looking for healthy profit margin, they are looking for huge profit margin. To sell to them is an act of desparation or decandancy.
Might even get more than he bought bc folks are still deep in the waiting list, they may be market at a higher price for people who don't want to wait a year.
pretty sure you can sell her for more by yourself, they are rare at the moment and some people can not wait to get one.. especially outside of the US..
At the moment due to the Tesla production delays, the Model 3 is worth more than what you paid
Nice that was a fun vid Ben
Great video bro
Does the gps require a data connection to look up points of interest?
benefactionhindrance yes, it's built in
Teslanomics by Ben Sullins oh ok. Is that a monthly fee? Thank you.
benefactionhindrance no
There is 25 model 3s on Ebay, most don't have bids.
took my Camry there. they offered 2500. posted on Craigslist for 5500. sold in 10 minutes for full price to first person. I had to call 5 others to break their heart. took off Craigslist to keep phone from ringing. they are a rip. I've tried to see what they would give on other cars. they rip you. only an ignorant person would sell their car to them vs. market.
You can get over sticker selling private party right now. Some people will pay extra not to have to wait 2 years to order one.
more short videos like this!
Honestly, a lot of people would pay more for a slightly used model 3 than they would for a new one because if they got a new one they would have to wait.
But you can sell it on craigslist for 70k
So - you're just driving the point home on the standards of CarMax and car dealers in general. Sounds like CarMax means Max for them, and Min for you, the customer. No Surprise they didn't want their faces associated with that appraisal. Good lesson to share for review, and for those who haven't yet learned about car dealers - take note.
I like CarMax, typically is my first choice for selling cars
LOVE THE *SOLiD BLACK* !!!
So Ben, what if I offered $42,001?
I raise by 1 $
Any counter-bidding has to be done in $100 increments. :)
I put in a reservation last year, and I'm tired of waiting. I raise it by 103 42,104.
$35k 2 years ago was a good proposition. $60k today for a Model 3 is just ridiculous. You can get a fully loaded Audi A5, Mercedes C or BMW 3... and bottom of the range Audi A6, Mercedes E and BMW 5... That's nowhere near "affordable". Oh well...
Sean Archer not that bottom of the range. You can get a bmw 530i with some really nice options for 60k. they start at about 50k. You can even get a base model 540i for little less than 60 which leaves room for a bit of optional extras.
Haven't even watched this yet, but I've seen a lot of these, amazing video ben.
🙏
we want more
we want everything about the model 3
Wow. So autopilot used to be an extra option??
Did you really lose anything? I see Model 3s for sale on eBay for $10k over sticker. I’m sure you could sell it and make enough profit to cover the sales tax you paid and walk away even money.
After seeing just the title I was expecting the video to be an experiment to see if you'd get offered more than retail, but after seeing what he was trying to test for I was like... Ben, clearly the Model 3 is not going to give you a proper idea of how much value your average car loses by driving it off the lot. 😲
if you sell the car yourself you should be able to get more, but carmax seems like a good second option if you don't want to sell it yourself...
yes thats realistic. Don't expect them to take into account yiur prem2iym upgrades, thats your own loss when you eventually trade it. Sale person doesn't give a crap about ur uograded wheels or paint.
“I’ve seen other RUclipsrs do it”
Looks like a really good idea. Go to a shop and get a car appraised just for the heck of it. I’m sure their staff have enough time on their hands to appraise vehicles that are not actually for sale.
Or am I missing something?
yep, great PR for them, they love it
Teslanomics by Ben Sullins would never have seen it that way! Thanks
its only pretty nice when you include all the rebates, for what its worth, 42k is pretty bad.
Isnt that carmax located in Costa Mesa?
Look familiar. Just asking.
San Diego
this is off-topic, but you vaguely remind me of shawn spencer from psych. lol
Wow, I actually guessed 42k before he said it!