At this moment, the new and used car market in America is, to use the technical term, absolutely batshit. This is bad news for car buyers, but great news if you’re looking to sell a car, like this 2019 Tesla Model 3 owner, Kyle Peavley of Maineville, Ohio did. Peavley bought the car in 2019 for $39,999 and just sold it to a dealer for $39,997.
For those of you unwilling to drag out your abacuses, that’s a difference of two dollars. Which means that since Peavley had the Model 3 almost two years, that’s like a buck a year to own the car excluding insurance, etc.
He drove the car 15,000 miles over that time, so, let’s see, that comes to about. oh, 0.013 cents per mile. Well, that doesn’t count what he spent on electricity to charge it, but just to keep the math easy, let’s assume he stole all his electricity from a neighbor via some extension cables.
If you have a fairly new, an in-demand car like Peavley’s Model 3 or a Toyota RAV4, Kia Telluride, Toyota Tacoma, or others, you might be able to replicate this story yourself because new cars are still in short supply, so very recent used cars are holding value like almost never before.
The former Model 3 owner in this story bought a used BMW i3 with his proceeds, and if you’re feeling daring and ready to get out of something boring, safe, in-demand and new and into something weird, old, and generally undesirable, there’s really no better time.
For example, if you’re a Kia Telluride owner who wants to make about $20,000 and move to a something with plenty of character and cargo room, then this is the ideal time to move into a Nissan S-Cargo. Is it as luxurious or safe as a Telluride? No.
But an extra $20 grand or so can buy you a helmet and a big bucket of caviar!
I’m just saying think about it.
(Thanks, John Matarese!)