A few months ago, we talked about a Tesla Motors buyback guarantee, which sounds really great for any customers who decide after three years they want no more of it, but could be good news for both Tesla Motors and anyone looking to get into a Tesla Model S, second-hand.
Tesla Motors stock [TSLA] has been steadily rising, breaking $190/shr this week. Even when Tesla shares were selling at a measly $43/shr, in April, CEO and Founder Elon Musk worked out a deal with his own wallet to guarantee the buyback value of the Tesla Model S, a minimum of 43% after three years. Given the number of Tesla Model S fans out there who absolutely love the car and everything it represents, I wonder how many cars Tesla Motors will actually buy back.
Still, Tesla Motors has a backlog of buyers waiting for delivery of their own Tesla Model S, not due to production problems, but the fact that demand is far greater than production at this point. According to the website, there’s a minimum one-to-three month wait for a made-to-order Tesla Model S, and I’m sure there are people out there who would love to get theirs sooner, and cheaper perhaps? If Tesla Motors buys back any vehicles, even at the guaranteed rate of 43-50% value, they’ll be able to resell them cheaper than new, which means they can make a profit off the same car, the second time around.
I’ve never had the urge to buy a new vehicle, and I’ve owned reliable vehicles with up to 500,000miles on them. If you could get into a second-hand Tesla Model S, three years old and just $37,000, wouldn’t you do it? Of course, you could always buy a new Chevy Volt, which is running about $34,000 before incentives.