If You Own a Tesla, Sell It Back Immediately

by Gabrielle DeSantis

Everyone knows the used car market is in shambles right now, but things are really heating up. The prices of used Tesla vehicles are still rapidly increasing, even higher than the price of a new car. Therefore, if you are on the fence about selling your Tesla…why not see what it is worth? It could be worth more than you paid initially.

If you own a Tesla Model S…

If you own a Tesla, you might want to sell it | Tesla

At the start of July, CNBC reported that a Tesla Model S Plaid caught on fire while the driver was actively driving the electric vehicle. The owner noticed smoke coming from the back of the Model S and tried to get out of the car. For whatever reason, the locks did not unlock, and the driver had to break out of the vehicle.

Last week, people started reporting pushback on the new Model S deliveries. While some buyers had confirmation of a pick-up day and time, these dates were suspiciously pushed back for an unknown reason. Owners on the Tesla Motors Subreddit shared text messages from Tesla staff explaining the vehicles were going to “inspection standards that have just recently been updated.” The National Highway Traffic Safety Administration (NHTSA) is aware of the incident and plans on investigating further. These deliveries resumed later this week but without explanation.

Since all of that went down, the company has further pushed back Tesla Model S delivery dates. According to the official website, those who order a Model S Long Range can expect delivery in February or March 2022. The Model S Plaid has been pushed back to September or October of this year.

If you own a Tesla of any kinda, you might want to sell it back

Since so many people are going to be waiting for Model S deliveries, Tesla has been offering top-dollar for trade-ins. One user on Twitter (The Kilowatts) priced out the trade-in value for a 2019 Tesla Model 3 Long Range all-wheel drive model. With the deep blue metallic paint and Full Self-Driving Capability, Tesla offered a trade-in value of $67,500. This Model 3 has 15,000 miles on it currently. 

Using the Tesla custom order feature, buyers can price out a brand new 2021 Model 3 with the same specs. The 2021 Tesla Model 3 Performance version in deep blue metallic paint and FSD comes to $67,990. When you value your trade-in through Tesla directly, the offer is good for 30 days. While everyone is trying to get one in the driveway, now is a good time to jump on it.

When you get a trade-in estimate from Tesla, you can apply it to the order of a new Tesla for a week. Or the offer is good for 30 days. As the season changes and new year vehicles are about to come out, these crazy trade-in values are likely going to go down.

The time is now…

Twitter users have been reporting the same high-value trade-in phenomenon. Prices fluctuate a lot, but this would be a pretty good deal if you wanted something besides a new Model S. Most states tend to encourage trade-ins and get a tax break because of it (except in California.)

Another upside to this is the idea of a private sale. Owners of the electric vehicle could probably get even more through a private sale. While supply is down and demand is high, it’s a good time to make money back on a Tesla. However, trading it in directly will be a simple process, while a private sale can be a bit of a hassle.

There are a variety of places those who own a Tesla can get a trade-in value for these days. Carvana, Vroom, and Carmax all offer hassle-free options for pricing out your Tesla. May as well see how much the various companies will give you. That could be a pretty big downpayment on a new vehicle of your choice.

RELATED: Consumer Reports Says to Avoid the 2020 Tesla Model S

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Would Rich Americans Rather Drive These Mainstream Models Than a Lamborghini Huracán or Audi R8?

by Gabrielle DeSantis

Ever dream about what kind of car you would buy if your funds had higher limits? When it comes to car buying, Most of us do. But according to a recent study, wealthy Americans actually drive some pretty low-radar mainstream models, not exactly a Lamborghini Huracán or Audi R8.

Audi R8 V10 Audi Sport Edition | Sjoerd van der Wal/Getty Images

Wealthy Americans might have the funds to buy some pretty awesome vehicles. Statistics show that the rich do make more extreme auto purchases than the average buyer. However, the more exclusive models are often for the sake of collecting. In other words, the cars that the rich collect aren’t exactly daily drivers. 

What cars, trucks, and SUVs do wealthy people buy the most? 

A black 2021 Ford F-150 parked on a dirt hill at dusk
2021 Ford F-150 | Ford

According to investopedia, those that make over $200,000 annually most commonly drive a Ford F-150 pickup truck. So while that kind of money could go toward something like an Audi R8 V10 Plus Coupe or a Lamborghini Huracán LP610-4 SPyder. Sources like Robb Report cite these models as two of the best luxury models money can buy.

People in this earning bracket buy a lot of Jeep Grand Cherokee and Jeep Wrangler models. In addition, both the Honda Civic and Honda Pilot are common choices for the wealthy. Of these, the model with the highest starting price is the Honda Pilot with an MSRP of $39,060 according to Honda’s page for the 2022 Honda Pilot. 

A blue 2021 Jeep Wrangler Rubicon 392 kicking up sand
2021 Jeep Wrangler Rubicon 392 | Jeep

The 2021 Ford F-150 starts at $29,290 and the Jeep Wrangler starts at $28,900. However, these models can easily climb up into the $50,000 or $60,000 range. The highest trim Jeep Wrangler starts over $70,000 for example––the Jeep Wrangler Rubicon 392. So sure, maybe the wealthy drive some mainstream models but they are likely buying the more tricked-out versions than the rest of us. 

What about people that make even more money? 

a blue Tesla Model S driving at speed on the road
Tesla Model S | Tesla

According to a MatrixCX survey, Americans who make over $400,000 do actually favor luxury vehicles as a general rule. This earning bracket tends to buy models like the Lexus RX350 and Tesla Model S. While these models are both luxury vehicles that can get pricey, they are still a bit on the modest side of things––neither is a Rolls Royce or a Ferrari. 

When you move up to an annual income over $500,000, we see the Ford F-150 back on top as the most popular model. This demographic of rich Americans also prefer Land Rover models, the Lexus RX350 and the BMW X5. And are guessing they aren’t buying the base model of any of these.  

Why don’t wealthy Americans drive more extreme vehicles? 

A blue 2021 Honda Pilot parked at a lake.
2021 Honda Pilot | Honda

This really comes down to the fact that the stats are deceiving. There is virtually nothing mainstream about a Platinum trim Ford F-150 with all the bells and whistles. While the rich may buy some mainstream models, they are still buying the more expensive versions than the average person can afford. 

Additionally, wealthy Americans don’t daily drive each car in their collection. They may need an F-150 to pull their expensive campers, so the fancier models have to stay in the garage. Or perhaps the Audi R8 is reserved for date nights and the Honda Pilot is the family hauler. 

Either way, wealthy folks tend to buy more expensive versions of mainstream vehicles––even if they aren’t status symbol models like a Mercedes-Benz G-Class. That said, there is one major thing that rich people have in common with the rest of us. They buy a lot of Ford F-150 pickup trucks.

RELATED: Tesla Crushed Toyota in This Consumer Reports Satisfaction Feud

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2020 Olympics: Chevy Ad Stars Cat While Toyota Pulls Out

by Gabrielle DeSantis

Only second to the Super Bowl, the 2020 Olympics is prime time television. Automakers, and all sorts of businesses, pay top dollar to get a slot during the games. But this year, while Chevy’s been knocking it out of the park, Toyota is pulling the reigns a bit. So let’s see why Chevy doubled down on their 2021 Silverado ad as Toyota stepped back, even though the games are being held in Japan.

Chevy Silverado ad featuring Walter the Cat is a smash hit

Most truck commercials follow a simple format: a gruff blue-collar worker and his dog hit the open road while some deep gravelly voice narrates their journey. Ask anyone to imitate a truck commercial and their pitch will drop as low as it can go, and they’ll prattle on about toughness and strength. But the most popular automotive ad of the 2020 Olympics flips that cliche on its head. The owner of this 2021 Chevy Silverado doesn’t have a canine companion, he’s accompanied by a cat.

Gary Pascoe told Muse, “There are certain ingredients in a lot of truck commercials: a man, a truck, and a dog. We wanted to disrupt that formula.” So they brought in Walter the cat, who loves chasing cats into trees, playing fetch, and even swimming. Most normal cats would be insulted if you threw a ball at them and disgusted by water, but Walter is certainly different.

As is the commercial, which highlighted the 2021 Silverado’s Multi-Flex Tailgate. It can become a step, expand, or fold into a workspace. Though this nifty little feature was purposely overshadowed by Walter, a feline spectacle, who single-handedly stole America’s heart. I mean, he’s a really cute cat.

But there are two sides to every coin. And while Chevy basks in the popularity of this ad, Toyota is stepping away from the 2020 Olympics, an event that sparks slight controversy in Japan.

Why did Toyota pull the ads from the Olympics?

Woman With Dog In Front Of Olympic Rings | James Matsumoto/SOPA Images/LightRocket via Getty Images

The short answer? Covid-19. While life seems to be getting back to normal, there’s still the Delta variant to worry about. And an event where athletes from across the globe all meet in one place doesn’t sit right with the Japanese population. To them, the 2020 Olympics seems like an unnecessary superspreader. But more than that, postponing the games for over a year after setting everything up has cost the Japanese taxpayer a lot of extra money.

So Toyota did what they thought was right, taking the ads off of Japanese airwaves in order to suppress controversy. In a nation that’s worked hard to keep their Covid cases low, the event could undo the past year’s worth of precautions that have been taken.

This is the same reason Toyota and other sponsors have been downplaying the Olympics, as the viewership for the Olympic games is at an all-time low. They’re not as popular as they used to be, and for many, hosting them now as Covid rages on feels too soon. But Toyota continues to show ads here in the states, one of which features a strange, egg-shaped car from the future.

What about that one Toyota Ad with the weird egg car?

It’s called the Toyota LQ Concept, and while the television ads only just premiered, the car was revealed back in 2019 at the Tokyo Motor Show. And while it’s far from production, the claims Toyota is making about this little pod are incredibly impressive.

Right off the bat, the LQ Concept will feature Level 4 Autonomous Driving capabilities. That would make this a proper self-driving car, one that could navigate streets (in a pre-mapped area) without any driver input or attentiveness. On top of that, the car will share a “bond” with the driver, thanks to its “onboard artificial intelligence agent.” That’s right, we’re entering the A.I. uprising.

And this isn’t even the first example of artificial intelligence in a Toyota. The 2021 Sienna replaced all hard copy owner’s manuals with the Toyota Driver’s Companion, which uses A.I. to sound more lifelike. But whatever tech they’re implementing, this LQ Concept is far from becoming a production car.

It’s a tale of two automakers catering to their audience. One subverted standards with a dog-like cat, and the other is respecting the tribulations of this massive event. But both have made a statement in these 2020 Olympics.

RELATED: Gran Turismo Is About to Become an Olympic Sport

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Will the Chevy Bolt Battery Fires Ruin the EV’s Reliability Rating?

by Gabrielle DeSantis

The Chevy Bolt EV is a five-door, front-motor, all-electric subcompact hatchback developed by GM Korea and LG in 2012. In 2015, development was transferred to GM Proving Grounds in Milford, Michigan, where over 50 handbuilt prototypes were tested. That same year, General Motors announced the Bolt would begin production. Since then, the Chevy Bolt has become America’s favorite pocket-sized EV.

But will recent battery fires and related recalls hurt its stellar reliability ratings?

What about the Chevy Bolt’s perfect reliability rating from Consumer Reports?

Under the hood of a Chevy Bolt EV | Joanne Rathe/The Boston Globe via Getty Images

The Chevy Bolt EV has long been Consumer Reports’ favorite electric ar. From 2017 through 2020, Consumer Reports gave this subcompact EV a perfect reliability score of 5/5, while owner satisfaction never dropped below 4/5.

It also received good safety and crash-test scores from the Insurance Institute for Highway Safety and National Highway Traffic Safety Administration. On top of that, over 80% of owners said they would purchase another Bolt in the future. It’s not easy for carmakers to gain such a satisfied and loyal customer base in today’s ultra-competitive market.

GM recently recalled over 50,000 Chevy Bolt EVs for battery fire risk

The NHTSA recently issued a warning to owners of Chevy Bolt EVs to “park their cars outside and away from homes or other structures because of a fire risk,” according to Consumer Reports. In addition, the agency advised owners not to leave their Bolt charging overnight. Eight months ago, Chevy recalled approximately 51,000 Bolt EVs from 2017 through 2019 model years due to faulty battery packs that could ignite, resulting in vehicle fires.

“But even Bolts that have already had recall work done aren’t free and clear: The automaker says it is aware of two vehicles that caught fire after the recall fix,” Consumer Reports stated. “Last week, CNBC reported that a 2019 Bolt caught fire while charging in Vermont even after the recall fix was performed.”

William Wallace, CR’s manager of safety policy, said Bolt owners would be wise to heed the NHTSA’s warnings. “It’s unusual to see an alert like this for cars that have already been repaired as part of a recall. We’re glad NHTSA is making this announcement and continues to investigate what’s going on. General Motors should do everything it can to help get to the bottom of this before someone gets severely hurt or killed,” Wallace emphasized.

CR also noted that 2020 Chevy Bolt EVs and newer aren’t affected because they use a different battery pack with improved chemistry techniques. And the 2022 Bolt will use an even better battery pack. The battery packs in question were supplied by LG Chem, a subsidiary of LG Corp. Notably, the Hyundai Kona also uses LG Chem batteries and was recalled after 12 reports of fires. That’s despite the fact that the batteries in the recalled Kona SUVs are designed differently and manufactured in a different factory.

So, the big question is: Will LG Chem’s batteries tarnish the Chevy Bolt’s stellar reputation? Consumers are smart. Apparently, many still love the Bolt despite the battery issues; after all, Chevy didn’t make the batteries, right?

An overview of the 2021 model

The 2021 Bolt EV starts at $36,500. It runs on an electric motor that produces 200 hp and 266 lb-ft of torque. Thanks to its lightning-quick acceleration and brisk ride, most reviewers agree the Bolt is a wonderful city car. Even merging onto the highway is a breeze. The automaker also alleges the Bolt can hit 60 mph in 6.5 seconds. The horsepower might not seem like much at first glance, but considering its size and instantaneous power delivery of electricity, it provides a fairly nice punch.

A 66kW lithium-ion battery pack powers the motor. The 2021 Chevy Bolt boasts an EPA-rated 127 mpg equivalent in the city and 108 MPGe on the highway. You’ll have little range anxiety while driving the Bolt — it has an EPA-estimated driving range of 259 miles on a full charge. This makes it one of the longest-range EVs that isn’t a Tesla. A 240-volt charger can get the Bolt a full charge in less than 10 hours. For fast charging, a DC fast charger gets 100 miles of range in just 30 minutes.

RELATED: Only 4 Electric Cars Were Recommended by Consumer Reports for 2021

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