Used M3 prices increasing?
Discussion
Hi all,
I've been considering switching to an EV for a while and have spent several weeks researching to find the best option for me. I've narrowed it down to a two-year-old Standard Range Plus Model 3. I'm reaching out to these forums because I've noticed the price seems to be going up (see graph below from Tesla Info), and I wanted to ask if this is typical around this time of year, possibly due to new registrations. I was under https://www.pistonheads.com/gassing/processpost.as... impression that more cars on the market would mean lower prices, but it seems to be the opposite. Is this normal?
Many thanks.
I've been considering switching to an EV for a while and have spent several weeks researching to find the best option for me. I've narrowed it down to a two-year-old Standard Range Plus Model 3. I'm reaching out to these forums because I've noticed the price seems to be going up (see graph below from Tesla Info), and I wanted to ask if this is typical around this time of year, possibly due to new registrations. I was under https://www.pistonheads.com/gassing/processpost.as... impression that more cars on the market would mean lower prices, but it seems to be the opposite. Is this normal?
Many thanks.
I wouldnt bet on increasing values. Oversupply has absolutely hit values and thats across the market. Its likely that there will be a number of factors at play for the short term blip. That said though, the death of the EV market was overplayed and sales are increasing, though at differing rates. Teslas are still in demand and make a great second hand buy if you shop around. I do wonder if this corresponds to a 2 or 3 year period for lease returns and updated models hitting the market with increased range and improved build quality?
off_again said:
I wouldnt bet on increasing values. Oversupply has absolutely hit values and thats across the market. Its likely that there will be a number of factors at play for the short term blip. That said though, the death of the EV market was overplayed and sales are increasing, though at differing rates. Teslas are still in demand and make a great second hand buy if you shop around. I do wonder if this corresponds to a 2 or 3 year period for lease returns and updated models hitting the market with increased range and improved build quality?
I agree that the oversupply has affected values throughout the EV market. Hopefully, this is just a seasonal issue and a result of dealers raising prices to take advantage of the current demand (everyone needs to earn a living). Despite the recent drop in between, current used values seem to be on par with those from a few months ago. Thankfully the trend is already showing a slight decline which is good news for buyers like me.
cerb4.5lee said:
Shouldn't this be in the BMW section?... "Used M3 prices increasing?". 
I was confused at first when I saw the title in the "What's New?" part of the forum to be honest, but anyway as you were...
Apologies realised a nanosecond after posting....I was confused at first when I saw the title in the "What's New?" part of the forum to be honest, but anyway as you were...
I can't see a way of changing the title.
ukdood said:
Thankfully the trend is already showing a slight decline which is good news for buyers like me.
I must admit that I am getting bored of seeing shock headlines around "Taycan used prices crash" or "BMW i7 depreciates like a stone" and of course "Tesla Model 3 values crash and are now bargain basement".I dont want to underestimate the impacts here, but yeah, BMW 7 series cars have always been a nightmare for depreciation. Tesla Model 3's are extremely popular so there is an oversupply and Taycan is a departure for Porsche but they pretty much perfected the ability to take as much money from people in extras which never adds to the resale value. To be expected. In fact, I would say that this shows a normalization of the market to those of ICE cars. But hey, it makes money to make shock stories.
But the point is that yes, EV's do depreciate - who knew? Some more than others and currently some represent good value for what they are. The Model 3 is a great example. Was it worth $40k-$50k? Thats subjective, but are they worth $20k now (sorry taking US numbers)? A non-leggy Model 3 SR or leggy LR can be had for around $20k and its a bloody bargain for what you get! Hell, you can even get an i3 Rex for sub $10k here now!
Long may this continue - no one likes depreciation, but its great for those in the used market. I got a well spec'ed Mach-e for half of its retail when new. Bloody bargain. Hopefully it opens up these cars to a new market, and importantly brings some sort of normality to it.
It wouldn't amaze me tbh.
I think the bad press around EV depreciation has caused excessive depreciation in many cases. That's all well and good so long as the philosophy plays out...
But it's only a matter of time until people start looking at ageing EV's and realise the battery is still fine, the car is still fine, and that it represents far better value that the ICE alternative - given the power and running costs.
All of a sudden, everyone wants an early TM3 or whatever other EV and the used prices notch back up a little in response to that demand.
I think the media have gotten carried away and done some early damage to used EV values. But now we're entering a period of intense interest in the used EV market, and the demand, which appears high already, will ultimately decide future values. I can believe a decent TM3 bought today could at very least remain static in value for a year or two.
I think the bad press around EV depreciation has caused excessive depreciation in many cases. That's all well and good so long as the philosophy plays out...
But it's only a matter of time until people start looking at ageing EV's and realise the battery is still fine, the car is still fine, and that it represents far better value that the ICE alternative - given the power and running costs.
All of a sudden, everyone wants an early TM3 or whatever other EV and the used prices notch back up a little in response to that demand.
I think the media have gotten carried away and done some early damage to used EV values. But now we're entering a period of intense interest in the used EV market, and the demand, which appears high already, will ultimately decide future values. I can believe a decent TM3 bought today could at very least remain static in value for a year or two.
In a similar story, it looks as though Model Ys have found their price now and early sub 50k LRs seem to be moving fairly quickly from AT.
On the Model 3, checking BCA, this is what has been listed recently (all models, not just SR)
115 in the last week
32 listed for auction just today
Plenty coming through, just keep a few 'saved' on AT and see how long they hang around for.
On the Model 3, checking BCA, this is what has been listed recently (all models, not just SR)
115 in the last week
32 listed for auction just today
Plenty coming through, just keep a few 'saved' on AT and see how long they hang around for.
Edited by RayDonovan on Wednesday 11th September 08:03
TheDeuce said:
It wouldn't amaze me tbh.
But it's only a matter of time until people start looking at ageing EV's and realise the battery is still fine, the car is still fine, and that it represents far better value that the ICE alternative - given the power and running costs.
But you have to replace an EV's battery every 3 years because they just fail. And if you dont, they just burst into flames and burn down car parks! Every one knows this and this is why EV's are worthless... for the rich only and they will never sell. But what happens when you need to drive 300 miles, towing a caravan without stopping? EV's cant do that, so they are all useless....But it's only a matter of time until people start looking at ageing EV's and realise the battery is still fine, the car is still fine, and that it represents far better value that the ICE alternative - given the power and running costs.
Or just maybe, they might be a suitable alternative for some and hence their values might be OK after all? I still think that something like a Model 3 or Y and a few other EV's make great second hand purchases at the moment. Reasonable value, proven tech and decent availability.
delta0 said:
RSymons reported a drop off in supply and pick up in demand had caused prices to stabilise. It bottomed out in July and has been rising since.
Like I said, I can easily believe it.It's all well and good listening to the media horror stories and deciding you're against silly electric cars, but then when you go used car shopping... You wanna go home with 130hp focus or a 340hp used model 3? I think that's when the BS starts to fall away.
I speak as a poor man who's i4 has been taken away to be repaired (Mrs Deuce broke it...) and has a petrol Corsa courtesy car. f
k that, hateful thing. Don't talk to me about the pleasure of swapping cogs... 
I reckon we're entering an age beyond first adoption, an age of first appreciation. A lot of people will start to consider EV's and to many, they will make a lot of sense.
Most of those people would have scoffed at the idea a couple of years ago.
As noted above, UK prices for the Tesla Model 3 have risen, and the gap between Tesla’s official pricing and independent dealers, like R Symons, has narrowed. Whereas R Symons used to offer more competitive deals on Model 3s, their current listings are moving closer to Tesla’s direct prices. It seems the decision to buy directly or through a dealer is less about price now and more about the perks, like service, warranty and added options. Personally, I’m holding off on making any moves for the moment. There’s been a slight regression in prices, and I’m hoping that will continue as the market stabilizes. That said, if prices don’t drop further, I might reconsider adding the Polestar 2 back into the mix. With Volvo recently deciding to stop producing EVs, it makes sense for Polestar to now be the focus of their parent company, which should only strengthen Polestar’s development and offerings in the EV market including an annoucement to double the number of dealerships it has in the UK over the next 18 months.
Let's see what happens....
Let's see what happens....
ukdood said:
As noted above, UK prices for the Tesla Model 3 have risen, and the gap between Tesla’s official pricing and independent dealers, like R Symons, has narrowed. Whereas R Symons used to offer more competitive deals on Model 3s, their current listings are moving closer to Tesla’s direct prices. It seems the decision to buy directly or through a dealer is less about price now and more about the perks, like service, warranty and added options. Personally, I’m holding off on making any moves for the moment. There’s been a slight regression in prices, and I’m hoping that will continue as the market stabilizes. That said, if prices don’t drop further, I might reconsider adding the Polestar 2 back into the mix. With Volvo recently deciding to stop producing EVs, it makes sense for Polestar to now be the focus of their parent company, which should only strengthen Polestar’s development and offerings in the EV market including an annoucement to double the number of dealerships it has in the UK over the next 18 months.
Let's see what happens....
Volvo are not stopping producing EVs. They have shifted from their target of 2030 for 100% production of EVs. Likely to align with the EU target of 2035. Anyway there is another thread on this. Let's see what happens....
ukdood said:
As noted above, UK prices for the Tesla Model 3 have risen, and the gap between Tesla’s official pricing and independent dealers, like R Symons, has narrowed. Whereas R Symons used to offer more competitive deals on Model 3s, their current listings are moving closer to Tesla’s direct prices. It seems the decision to buy directly or through a dealer is less about price now and more about the perks, like service, warranty and added options. Personally, I’m holding off on making any moves for the moment. There’s been a slight regression in prices, and I’m hoping that will continue as the market stabilizes. That said, if prices don’t drop further, I might reconsider adding the Polestar 2 back into the mix. With Volvo recently deciding to stop producing EVs, it makes sense for Polestar to now be the focus of their parent company, which should only strengthen Polestar’s development and offerings in the EV market including an annoucement to double the number of dealerships it has in the UK over the next 18 months.
Let's see what happens....
Volvo aren't stopping making EVs, just not stopping making ICEs quite as quickly.Let's see what happens....
ukdood said:
My bad, I was under the impression Volvo were focusing on plug-in hybrid.
It's easy to make a mistake when the media and some posters dramatise a simple and minor shift in Volvo's plans towards full electrification 
The whole thing was dressed up as 'Volvo make U-turn because nobody wants an EV'.... Oh dear.
ukdood said:
Hi all,
I've been considering switching to an EV for a while and have spent several weeks researching to find the best option for me. I've narrowed it down to a two-year-old Standard Range Plus Model 3. I'm reaching out to these forums because I've noticed the price seems to be going up (see graph below from Tesla Info), and I wanted to ask if this is typical around this time of year, possibly due to new registrations. I was under https://www.pistonheads.com/gassing/processpost.as... impression that more cars on the market would mean lower prices, but it seems to be the opposite. Is this normal?
Many thanks.
If you visit the depreciation charts you can see a longer trend. Its also worth noting the number of cars on market which has fallen back.I've been considering switching to an EV for a while and have spent several weeks researching to find the best option for me. I've narrowed it down to a two-year-old Standard Range Plus Model 3. I'm reaching out to these forums because I've noticed the price seems to be going up (see graph below from Tesla Info), and I wanted to ask if this is typical around this time of year, possibly due to new registrations. I was under https://www.pistonheads.com/gassing/processpost.as... impression that more cars on the market would mean lower prices, but it seems to be the opposite. Is this normal?
Many thanks.
https://tesla-info.com/tesla-depreciation/UK/M3/St...
The long term trend is ugly though, in the last 2 years they've fallen 20k, in part that will be because back in 2022 the new price was 5k more expensive than they are today which will cause 5k of that depreciation if not more.
The other thing thats clear from al the depreciation charts is despite the claims that these cars need no maintenance million mile batteries and the like, mileage is a significant factor in depreciation. There's a near 20% drop over a 30k mile spread from the lower mileage cars up to 40k mile cars which still have full Tesla warranty.
One factor for the slight recovery could be down to the lack of indicator stalks on the new cars. I do wonder how many people are put off by the steering wheel buttons, and it you switch to the Model Y charts, there's no pick up on value with those cars.
If you're a 10k mile a year driver, I'd look at a 30k mile car for a little over 23k and you've 2 years of fully warranted driving ahead of you. Another 5k and you can have the LR.
Edited by Gone fishing on Thursday 12th September 17:05
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