GM Volt Forum banner
1 - 9 of 9 Posts

·
Registered
Joined
·
12 Posts
Discussion Starter · #1 ·
So this past week, we have seen a ton of bad news. Not all unexpected, but more concrete details of what we were expecting.

- Delay of the Model 3
- The $7500 rebate disappearing from 2018 onward
- Thought about breaking the bank and rush ordering the S75D, but there's no guarantee that it could be delivered before 1/1/18, especially since Tesla said they'll take away 10% of resources from the S/X line to put into the Model 3.

I'm month to month on my Nissan Leaf. I'm a day 1 reservation holder in the East coast. I was going to hold out until Jan 2018, when the most optimistic of timelines when Tesla originally gave them out. But I'm realistically looking at probably mid 2018.

So I had a thought. Get the cheapest Volt now. Take my time with the Model 3 and wait for the exact specs to become available. When it does, sell the Volt. If the numbers work out right, I will not have lost much at all on that Volt.

The cheapest Volt can be had for around $30k. Then I can sell it for $22-24k mid 2018 and not really lose money. Think used 2017 Volt LTs can be sold for 22-24k if less than 10k miles?

Has anyone else thought about this? And does my plan make sense? If not, please feel free to blow it to shreds.
 

·
Registered
Joined
·
669 Posts
Might be a great time to shop around for a new Volt or Bolt...whichever suits your fancy. You will have a great car to enjoy while you wait for the Model 3, which may or may not be a better car depending upon your budget and your needs. I am enjoying my new Volt and I am no longer in any big hurry for my next car...which I was planning on being a Tesla. But there may be even better options by then. Beginning of 2019 is when my Model 3 is due with AWD and long range battery.
 

·
Registered
Joined
·
14,005 Posts
When the model 3 ships in numbers, I suspect the used volt market will be very soft, so you will take a beating on the resale. It’s hard to predict whether the tax credit will survive or not, but one way to get a model S fast is to buy from existing new inventory. You won’t have as many choices in terms of color and options, but $7500 will go a long way to ease the price pain.

Another option could be to buy a used volt, ELR, or Tesla to hold you over until the model 3 arrives. You won’t take as big of a depreciation hit that way.

Or, since you are considering the model S, why not look at a CT6 plugin and just keep it? The $75K car can be found discounted about $10k, and another forum member reported getting one $15K below MSRP before the tax credit for a $22.5k discount. The CT6 will be more exclusive than the model 3 when the 3 starts shipping in large quantities.
 

·
Registered
Joined
·
433 Posts
I wouldn't suggest buying a new one if you're going to trade it in just a few years. You'll get hosed on the depreciation.

Used gen 1's (2013-2015) are a bargain (many examples under $14k). Hop in one of those to tide you over to the M3. You won't take near the depreciation hit when it comes time to trade.
 

·
Registered
Joined
·
679 Posts
The Volt is great. Its the only other all electric car (locally all electric) that can drive across the country.
 

·
Registered
Joined
·
59 Posts
I wouldn't suggest buying a new one if you're going to trade it in just a few years. You'll get hosed on the depreciation.

Used gen 1's (2013-2015) are a bargain (many examples under $14k). Hop in one of those to tide you over to the M3. You won't take near the depreciation hit when it comes time to trade.
This. Used Gen1, or even Gen2 if you can get a good deal makes more sense to me. When you buy used, the depreciation is partly due to the tax credit, so you're pretty much getting it anyways.
 

·
Registered
2017 Volt Premier 80k+ Miles
Joined
·
756 Posts
If your in the financial range for a Model S, I don't know why you'd want a 3. That is the way I would go given the resources. If you buy a fully loaded 2017 Volt, it will greatly reduce the desire to jump to the Model 3.
 

·
Registered
Joined
·
12 Posts
Discussion Starter · #8 ·
Getting a basic S75D with the $7500 rebate would be pushing it and without it, definitely pushes it out of the range.

I know there will be a big time depreciation hit on a new car. But what I'm saying is that, with the $7500 rebate on a $30k car, it'll cover all if not most of the depreciation hit the first year.

Let's say, there's a 20% depreciation hit. The $7500 will cover the depreciation of a Volt more than a Bolt.

That is why I am thinking about getting a Volt, keeping it for 6 months to 1 year and then selling it when the Model 3 comes out. I'm thinking I can sell the Volt LT for $22-24k, if it has less than 10k miles on it.
 

·
Registered
Joined
·
1,464 Posts
I also agree. Get a used ELR, used Gen1 or used Gen2. The $7,500 is already taken out of the resale value, plus the biggest depreciation hit has also been removed. The ELR and Gen 1 are absolutely rock solid in reliability, even well past 100K miles. The ELR also has a really long b2b warranty so you will likely still be covered for many miles to come. Low risk, least financial hit, biggest smile for the dollar.
 
1 - 9 of 9 Posts
Top