If I owned a Tesla right now, I’d be in a bad situation. I sure as hell no longer want to be seen in one. The market for them has crashed, and nobody wants to buy one used. If I could afford a Tesla, I’d surely have insurance… I’d be rooting for somebody to set that shit on fire
I think that’s why there’s a stealmyteala.com website. An insurance payout would be better than market value, perhaps.
For now at least. But insurance payouts follow the market price of the car.
Gap insurance
That only helps you if you bought the car at the worst possible time. Outside of the first maybe year of owning a car you shouldn’t have any real appreciable negative equity. Even if the car is a massive piece of shit (and not just made by one)
The average is 18-24 months.
1/4 of all car loans involve negative equity.
Well over 60% of loans are over 72 months which significantly increases the time for loans build any equity.
But we are also talking about teslas which are being killed in the used market