Used Tesla Model 3

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Discussion

Raymond Reddington

Original Poster:

2,975 posts

112 months

Thursday 14th March
quotequote all
Hi all


Just wanted to see if I've missed anything here.

I'm looking at a 2021 Tesla model 3, low mileage. Due to having a battery, I'd opt for a PCP deal, which comes in around £350 pcm.

Currently shedding in a MK5 Golf TDi and it's needing a lot of maintenance lately, I'd like an upgrade. I do a fair few miles, current fuel cost is between 250 and 325 per month.

I can charge for free at work which should almost eliminate my fuel costs bar the odd charge at home.

As I understand it, the batteries have an 8 year or 100k mile warranty, which I'd probably not reach before the end of the PCP term where I would just hand the car back.

This plan 'should' decrease my running costs or at least hopefully make them more consistent for a few years, whilst giving me a nicer more modern car to spend my time In.

Are there any big downsides to a used one of these and does anyone have any experience running one?

I'd be looking at a long range dual motor if it makes any difference. Also open to other options like the Kia E-Niro etc.


Cheers

66HFM

335 posts

27 months

Thursday 14th March
quotequote all
Don't forget the lump sum in advance on a PCP deal and that sum gets written off....

Also check out an insurance cost on it as I understand that a lot of electric cars have taken an even bigger hit on insurance premiums than an ICE car...

Raymond Reddington

Original Poster:

2,975 posts

112 months

Thursday 14th March
quotequote all
66HFM said:
Don't forget the lump sum in advance on a PCP deal and that sum gets written off....

Also check out an insurance cost on it as I understand that a lot of electric cars have taken an even bigger hit on insurance premiums than an ICE car...
Good point re. Insurance, thanks for that, I'll check it out.

The lump sum is very minimal on this deal, so I'm okay with that, but of course I'll need to sort a charging point out at home which does cost.

NDA

21,750 posts

227 months

Thursday 14th March
quotequote all
As above, insurance is the big cost - other than that, a M3LR is a great car.

I have a 2021 LR and have no worries about the battery failing.

paradigital

883 posts

154 months

Thursday 14th March
quotequote all
NDA said:
As above, insurance is the big cost - other than that, a M3LR is a great car.

I have a 2021 LR and have no worries about the battery failing.
Insurance still seems very much a variable figure. Personally I’m not finding much of a difference in the last 2 renewals on my 2022 Model 3 Performance, and the cost is similar to that of my 440i.

essayer

9,126 posts

196 months

Thursday 14th March
quotequote all
sounds a decent deal, just check how much a new one is because there might not be much difference, Tesla prices go up and down quite a lot

Take one for a test drive and confirm you're get on with the central screen and driving arrangement, it's very different to other cars but I find it intuitive once you get used to it

Strocky

2,663 posts

115 months

Thursday 14th March
quotequote all
66HFM said:
Don't forget the lump sum in advance on a PCP deal and that sum gets written off....

Also check out an insurance cost on it as I understand that a lot of electric cars have taken an even bigger hit on insurance premiums than an ICE car...
Not criticising you or the OP directly as you've mentioned and they have acknowledged the Lump Sum Advance but I can't get my head around some people appearing to "park" the deposit (which could end up being 1, 6, 9 or 12 Monthly payments) on top of the monthly and then making the calculation that their monthly is "only" £xxx (and not factoring in the LSA)

The total monthly is surely the cost of the lease divided by the length of the lease?
Or is it man maths sleight of hand to justify a new toy? tongue out

lost in espace

6,196 posts

209 months

Thursday 14th March
quotequote all
Gap insurance is being pulled from the end of the month, bear in mind if you write it off you could be out of pocket. New products should be back on the market at some point, but I don't think a date has been set.

georgeyboy12345

3,573 posts

37 months

Thursday 14th March
quotequote all
Raymond Reddington said:


Due to having a battery, I'd opt for a PCP deal
Why?

Raymond Reddington

Original Poster:

2,975 posts

112 months

Friday 15th March
quotequote all
Thanks for the advice everyone, seems to me like the downsides are minimal

Raymond Reddington

Original Poster:

2,975 posts

112 months

Friday 15th March
quotequote all
georgeyboy12345 said:
Why?
In case the battery starts to degrade around the time the warranty runs out

JNW1

7,868 posts

196 months

Friday 15th March
quotequote all
Raymond Reddington said:
georgeyboy12345 said:
Raymond Reddington said:


Due to having a battery, I'd opt for a PCP deal
Why?
In case the battery starts to degrade around the time the warranty runs out
I see where you're coming from - I know there are lots of people who think battery life's likely to be a non issue but I can understand the logic in letting a finance company take the risk on residual value should that turn out not to be the case.

However, can you really get a low mileage 2021 Tesla Model 3 LR for £350/month on a PCP with a small deposit? I'd have thought cars like that are retailing at high £20k's so £350/month without a sizeable deposit seems low, especially if the PCP contract reflects that you're going to be doing a fair few miles?

LosingGrip

7,846 posts

161 months

Friday 15th March
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Out of interest OP what is the deposit? I've been half toying with the idea.

SteBrown91

2,417 posts

131 months

Friday 15th March
quotequote all
Raymond Reddington said:
georgeyboy12345 said:
Why?
In case the battery starts to degrade around the time the warranty runs out
Battery has a 7 year warranty - non issue

Raymond Reddington

Original Poster:

2,975 posts

112 months

Friday 15th March
quotequote all
SteBrown91 said:
Battery has a 7 year warranty - non issue
It is an issue as I'll be buying at 3 years old, hence going for the 4 year PCP agreement

Raymond Reddington

Original Poster:

2,975 posts

112 months

Friday 15th March
quotequote all
LosingGrip said:
Out of interest OP what is the deposit? I've been half toying with the idea.
A PX of my old Golf, so around 850 - let me know if you go for it

golfer19

1,568 posts

135 months

Friday 15th March
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I was considering the same until I managed to get one of those cheap Honda deals.

LosingGrip

7,846 posts

161 months

Saturday 16th March
quotequote all
Raymond Reddington said:
A PX of my old Golf, so around 850 - let me know if you go for it
Oh wow that is less than I was expecting! Sadly it won't be for a while as I've got no where to charge it up in the flat.

Auto810graphy

1,432 posts

94 months

Saturday 16th March
quotequote all
Sweet spot for these is the later Chinese built 71 plate Long Range with the upgrade wheels and ideally any colours except white.

georgeyboy12345

3,573 posts

37 months

Thursday 21st March
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Raymond Reddington said:
georgeyboy12345 said:
Why?
In case the battery starts to degrade around the time the warranty runs out
Don't assume that the finance company will be responsible for all repairs should anything go wrong, it could be you! Then you'll really be in trouble as you'll have a load of debt to deal with too!