Model 3 Highland

[James6112]

Looks like the highland had landed - cheaper too:-

Edited by James6112 on Tuesday 17th October 08:53

[LivLL]

These will likely be a great used buy in a couple of years when the initial leases / company cars come on the used market but new for private buyers.....

PCP is 10% APR sadly, makes this "cheaper" car £51k total compared to the LR RWD on PCP working out at £46800 with same deposit.

Neither are cheap considering 1 year old M3 SR are currently around £32k on the used market. 4 year old are around £22-23k which takes your £51k purchase and loses you the best part of £30k in depreciation alone of around £625 a month.

Company car drivers won't care but for a personal buyer this is bad, bad, bad. I was expecting it to be mid £30k at the very most given the amount of things they've stripped out from the car and the improvements in manufacturing they have supposedly made.

Now is not a good time to finance a car. There will need to be some really good finance deals to shift these - 10% isn't it.

Edited by LivLL on Tuesday 17th October 09:09

[Chipper]

Got an email saying delivery will be Jan 24 for my new LR. Gone white with 18 inch wheels to be a bit original.

[skwdenyer]

LivLL said:

These will likely be a great used buy in a couple of years when the initial leases / company cars come on the used market but new for private buyers.....

PCP is 10% APR sadly, makes this "cheaper" car £51k total compared to the LR RWD on PCP working out at £46800 with same deposit.

Neither are cheap considering 1 year old M3 SR are currently around £32k on the used market. 4 year old are around £22-23k which takes your £51k purchase and loses you the best part of £30k in depreciation alone of around £625 a month.

Company car drivers won't care but for a personal buyer this is bad, bad, bad. I was expecting it to be mid £30k at the very most given the amount of things they've stripped out from the car and the improvements in manufacturing they have supposedly made.

Now is not a good time to finance a car. There will need to be some really good finance deals to shift these - 10% isn't it.

Edited by LivLL on Tuesday 17th October 09:09

I don’t quite understand - you’re including finance costs in your depreciation calc, and then using that to suggest private buyers will get a bad deal?

Whilst I get it in absolute money terms, it isn’t really apples-to-apples.

By your numbers, a 4 year old SR is worth £23k. That car was £37k new, so depreciation of 38% over 4 years, or ~20% pa. How does that compare to other similar vehicles?

[skwdenyer]

James6112 said:

Looks like the highland had landed - cheaper too:-

Edited by James6112 on Tuesday 17th October 08:53

That’s an impressive price. In 2019 it was £37k. So in real terms this is over 10% cheaper.

[TheRainMaker]

skwdenyer said:

James6112 said:

Looks like the highland had landed - cheaper too:-

Edited by James6112 on Tuesday 17th October 08:53

That’s an impressive price. In 2019 it was £37k. So in real terms this is over 10% cheaper.

10% cheaper as it now doesn’t have working indicators

[skwdenyer]

TheRainMaker said:

10% cheaper as it now doesn’t have working indicators

That’s a feature designed to encourage BMW drivers to make the change

[LivLL]

skwdenyer said:

I don’t quite understand - you’re including finance costs in your depreciation calc, and then using that to suggest private buyers will get a bad deal?

Whilst I get it in absolute money terms, it isn’t really apples-to-apples.

By your numbers, a 4 year old SR is worth £23k. That car was £37k new, so depreciation of 38% over 4 years, or ~20% pa. How does that compare to other similar vehicles?

It’s ok I’ve probably completely mangled my explanation - in short, for most private buyers the list price is somewhat irrelevant if you’re financing and the finance rate is inflated.

Secondly Tesla do depreciate as much as other cars (ie a lot) which wasn’t really the case until recently either.

Personally I think the refresh car on their finance is strong money for what they’re offering. Granted if you buy out right and keep it for 10 years plus that’s all irrelevant but it’s worth being aware just because the list price has dropped doesn’t mean what you pay for the car will be less than before.

I’ve no idea why or how they can fund the 0% deals on the outgoing 3 LR RWD but they can and asking 10% on the refresh seems a heck of a jump.

I’ll be interested to see if I change my mind when I test drive the refresh, man maths is a terrible thing…

[skwdenyer]

LivLL said:

It’s ok I’ve probably completely mangled my explanation - in short, for most private buyers the list price is somewhat irrelevant if you’re financing and the finance rate is inflated.

Secondly Tesla do depreciate as much as other cars (ie a lot) which wasn’t really the case until recently either.

Personally I think the refresh car on their finance is strong money for what they’re offering. Granted if you buy out right and keep it for 10 years plus that’s all irrelevant but it’s worth being aware just because the list price has dropped doesn’t mean what you pay for the car will be less than before.

I’ve no idea why or how they can fund the 0% deals on the outgoing 3 LR RWD but they can and asking 10% on the refresh seems a heck of a jump.

I’ll be interested to see if I change my mind when I test drive the refresh, man maths is a terrible thing…

That is if course the modern world we live in - finance is a cost like any other.

£41k for the car doesn’t to me seem like strong money. 10% finance isn’t great, but what are comparable rates like right now?

[Chipper]

skwdenyer said:

That is if course the modern world we live in - finance is a cost like any other.

£41k for the car doesn’t to me seem like strong money. 10% finance isn’t great, but what are comparable rates like right now?

I get a £500 discount for recommending myself but £49500 doesn’t seem too bad for a LR new Tesla model 3. You just need to look at the prices of BMW i4 etc….

The only niggle is the price of the rwd at £39995. I’m struggling justifying paying another £10000 more for more performance and AWD. £40000 for a new shape model 3 seems a bargain.

[LivLL]

What colour are you getting Chipper?

[James6112]

The standard white one is under 40k
Colours take it over 40k
Will this have car-tax implications?
Eg will the colour cost you 2k + 2k tax?!

Edited by James6112 on Tuesday 17th October 19:36

[Chipper]

LivLL said:

What colour are you getting Chipper?

White with a black interior. I’d like the red but £2k is way too much and adds very little value if you wanted to sell. I love the ride comfort with the 18 inch wheels and again don’t want to increase the price so staying with the 18” again.

[LivLL]

James6112 said:

The standard white one is under 40k
Colours take it over 40k
Will this have car-tax implications?
Eg will the colour cost you 2k + 2k tax?!

Edited by James6112 on Tuesday 17th October 19:36

I think EVs are exempt fro,pm the 40k luxury car tax until 2025 - is that still the case?

[Mark V GTD]

£2k is just insane for different coloured paint

[James6112]

The interest rate is very high on pcp for private buyer, 9.5% interest
The equivalent Type Y (5k more list) is a lot cheaper in real terms, as pcp 2.9%
I guess the Highland speculative interest rate must make sense to Tesla, mop up some super keen purchasers.
I expect it will fall to a more reasonable rate when then need to chase sales, after the initial rush!

[573]

Some early spy stuff starting to show specs of a 'Plaid' model 3 in testing and parts for them appearing on the Tesla parts store...

[573]

[David87]

573 said:

Some early spy stuff starting to show specs of a 'Plaid' model 3 in testing and parts for them appearing on the Tesla parts store...

Please take my money, etc. etc. Won't be able to get the order in fast enough when this thing pops up on the website.

My money is on it being called Ludicrous, but could well be Performance or Plaid or even something else unexpected.

By all accounts this car is going to be absolutely mega - seems Tesla are really putting some distance between it and the Long Range. Seems a whole list of changes - camo'd car with a front splitter spotted in SF yesterday.

[soupdragon1]

David87 said:

573 said:

Some early spy stuff starting to show specs of a 'Plaid' model 3 in testing and parts for them appearing on the Tesla parts store...

Please take my money, etc. etc. Won't be able to get the order in fast enough when this thing pops up on the website.

My money is on it being called Ludicrous, but could well be Performance or Plaid or even something else unexpected.

By all accounts this car is going to be absolutely mega - seems Tesla are really putting some distance between it and the Long Range. Seems a whole list of changes - camo'd car with a front splitter spotted in SF yesterday.

Insurance will be fun on the car if it gets released here!