Automotive

expensive car return policies and options?

  • Last Updated:
  • Feb 3rd, 2018 3:31 am
Newbie
Feb 1, 2018
1 posts

expensive car return policies and options?

Hi everyone, I am curies if someone been in situation as I am or have a good advice for me.

I did something crazy this month. I finally bought something I though I will make me really happy for the rest of my life. However not even a month passed and I regret my purchase and trying to get out of the deal with minimum damage.

I just bought a car for 146k+hst = 166k.

The car at stake is Tesla model X. I am by no means a rich person or have stable high income job. I just got lucky couple of times and had savings in my account that I decided to spend on the car. Well after driving for a week I realized it is not what I expected for example battery range is overrated, technology included are overrated, even tho car has no engine inside is not very quiet which bothers me. I still think it is great car but not worth 160k or maybe I am saying so because I don't have a lot of disposable income.

Now I feel extremely guilty for spending so much money and want to get out of it. But as you know there is $14000 incentive for EV cars that I applied for, which paid out to owner under condition of keeping car for 1 year.

So my question is how to get read of car with minimal loss? Dealership said no returns sorry.

I thought my options are to sell now as it only has been few weeks. or sell after 1 year when I get my 14000 rebate? It is hard to estimate annual depreciation cost as there are not a lot of model X for sale.
What do you guys think?
Last edited by Noobie0000 on Feb 2nd, 2018 7:42 pm, edited 1 time in total.
4 replies
Deal Addict
Jul 19, 2004
1791 posts
1181 upvotes
Vancouver
Haven't tried it personally, but you can put up your car for rent on Turo to get some of your money back. Should have no problems renting out a Model X.
Deal Expert
Aug 2, 2004
38395 posts
12020 upvotes
East Gwillimbury
Even though the car is only a week old, it is a used car now

If you're going to sell it, expect to take a big loss

I suggest you sell it quick, lose $40,000 today or lose $60,000 in a year
Deal Expert
Jan 15, 2006
21392 posts
23735 upvotes
Richmond Hill
Sorry to hear you bought into the tesla hype. These cars are so overpriced. For the same money had you bought a S class Benz you would be over the moon. Sadly there's no way out of this without losing a lot of money.

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