I understand that but we're talking three months here and a 20% drop in price for an identical product. This is not like a new iPhone. I owe the bank more than

I understand that but we're talking three months here and a 20% drop in price for an identical product. This is not like a new iPhone. I owe the bank more than the car is worth NEW. Or close to it.[0] So effectively, Tesla has tanked the resale value of the asset. So the $3000 isn't even the half of it. I am now also depreciated by that much more. [0] I haven't done the math, I may be be slightly bellow by a few hundred bucks. Edit: Removed the use of the word "underwater". Per sokolof's correct statement, it's a car, you're pretty much under water the second you drive off the lot.