R1S Resale Value

[runningdenver]

Just to clarify, I'm not planning to flip it.
Only wanted to know where I'm at if I decide in a few months from now to sell it, whether I'm going to lose a good amount of money or not...The intention was never to make a profit of it.

You'd need a crystal ball too... I bought a model Y on the 31st December 2022. Getting in on a $7.5K end of year price deduction, and free supercharging for 2 years. Price pre tax was $65K, which at the time REALLY frustrated people who'd bought earlier in December and missed out on that pricing. They'd paid $72.5K pre-tax for the same car, and no free charging.

Fast forward mid-January - Tesla massively drop prices.

Today I can spec the exact same Y for $54K. $11K less than I paid (and $18.5K less than others paid).

Second hand values tanked too obviously. Privately I'd be lucky to get $45K for a 11 month old car. Rivian offered me $39.5K.

If Rivian drops prices in the coming months - your resale value will tank too. Demand has slowed for the R1T and they're already offering deals (free charger etc). At some point the demand for the R1S will slow too. My advice - if you're thinking you might sell - the sooner the better.

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[shrink]

Just a data point from today:

https://carsandbids.com/auctions/3BObgN5E/2023-rivian-r1s-adventure-edition

Preorder price of $80,600 sells for $86,000. I don't know what TTL is in Ohio, but I imagine the $86K to the seller barely covers total out of pocket costs to buy.

Seller pays $86,000 + 4.5% ($3870) = $89,870 + TTL and potential shipping. I think this build is about $97K new with current pricing?

It seems buyers are getting a discount, but sellers with pre-order pricing may or may not be breaking even?

 

[fbkr]

Just a data point from today:

https://carsandbids.com/auctions/3BObgN5E/2023-rivian-r1s-adventure-edition

Preorder price of $80,600 sells for $86,000. I don't know what TTL is in Ohio, but I imagine the $86K to the seller barely covers total out of pocket costs to buy.

Seller pays $86,000 + 4.5% ($3870) = $89,870 + TTL and potential shipping. I think this build is about $97K new with current pricing?

It seems buyers are getting a discount, but sellers with pre-order pricing may or may not be breaking even?

Seems like these pre-order flippers might need to have secured the 7.5k tax credit in order to eke out a profit at this point...

 

[JohnNick72]

FWIW, if this helps…

I took delivery of my R1S in late Sept. Quad Motor, Adventure Pack, Large Motor, LA Silver & Ocean Coast + Dark Ash with 21” Road wheels. $75,500 + delivery ($1,800), taxes (6.25%) & fees - totaling $82,780.75 OTD.

Drove it less than 1,000 miles and loved it, but I decided the charging infrastructure in my area (TX) wasn’t good enough for my use case just yet to replace my X5 and put it up for sale.

Listed it here, on Autotrader, Cars.com & Facebook Marketplace for about a month and a half. Also, I shopped it to some local dealers in Houston.

Don’t be fooled by the asking prices you see online…. I had it listed at $92.5k to start and gradually reduced to $89k. I got offers ranging from $75-$85k, and sold for $85k this past Monday. Came out ahead maybe $1,500, so it’s not bad like a “normal” car when looking at selling price to current MSRP. In most cases, however, you’d have to be lucky to make enough money to justify the fuss if you had a desire to flip or strong inclination that it’s not going to be a long term hold.

 

[fbkr]

FWIW, if this helps…

I took delivery of my R1S in late Sept. Quad Motor, Adventure Pack, Large Motor, LA Silver & Ocean Coast + Dark Ash with 21” Road wheels. $75,500 + delivery ($1,800), taxes (6.25%) & fees - totaling $82,780.75 OTD.

Drove it less than 1,000 miles and loved it, but I decided the charging infrastructure in my area (TX) wasn’t good enough for my use case just yet to replace my X5 and put it up for sale.

Listed it here, on Autotrader, Cars.com & Facebook Marketplace for about a month and a half. Also, I shopped it to some local dealers in Houston.

Don’t be fooled by the asking prices you see online…. I had it listed at $92.5k to start and gradually reduced to $89k. I got offers ranging from $75-$85k, and sold for $85k this past Monday. Came out ahead maybe $1,500, so it’s not bad like a “normal” car when looking at selling price to current MSRP. In most cases, however, you’d have to be lucky to make enough money to justify the fuss if you had a desire to flip or strong inclination that it’s not going to be a long term hold.

Thanks for the detailed account.

It does seem like even on used car websites, you are starting to see relatively new <1,000 mile R1S cars priced at a ~10% discount to MSRP.

I suppose that is what you expect for a regular car when it's driven off the dealer lot, but it all seems to have happened suddenly in the last month or so.

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