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Keeping a model 3 Long term...? Hold value, Reliability?

Mrbattery123

Member
Oct 8, 2020
33
24
Los angeles
Hello, I'm a new owner of a used model 3 LR AWD for almost a month now. I have a questions regarding my purchase. Part of me has buyers remorse, part of me doesn't. I typically lease my vehicles because I tend to get over them fairly quickly. I decided to purchase a M3 because it apparently looks like they hold value and that will also encourage me to stop wasting money on leasing. I know its a tough question, How much value can a model 3 retain 6 years from now. Do you think the car, Mechanically, can hold up for that long before falling apart? What encouraged me the most about buying the Tesla was the 8 year warranty. Where are the people with high mile M3's and what issues have you had?
 

strykeroz

Member
May 27, 2016
636
445
Brisbane, Australia
Individual examples will vary hugely, but today the values are holding. Mechanically they're so much simpler than any ICE alternative but I'm also mindful by the time we need to move to another car most/all alternatives will be EV so that advantage is only really present today

We intend to keep our 3 long term but the thing that might kill that plan is my Misophonia. As this thing gets old without a noisy engine drowning out all the squeaks & rattles that develop I may have to trade it for my own sanity :eek:
 

dmurphy

Active Member
Supporting Member
Dec 7, 2018
3,915
5,537
New Jersey - Morris County
What's most incredible to me is that, almost 2 years in, I look forward to driving my Model 3 every single time. It continues to evolve and improve, and is the only car in history that's BETTER its second day.

By now, I've *always* started itching for a new car. Now... I'll be perfectly content to drive this 3 for a decade+. No concerns at all.

Relax, enjoy the ride and anytime you're thinking you're anything less than thrilled, make a list of the things it does now that it didn't do when it was brand new. It's an astounding list when you start writing it down!
 

RoBoRaT

Zero Farts Given!
Nov 22, 2018
1,514
1,339
NorthSoCal
Hello, I'm a new owner of a used model 3 LR AWD for almost a month now. I have a questions regarding my purchase. Part of me has buyers remorse, part of me doesn't. I typically lease my vehicles because I tend to get over them fairly quickly. I decided to purchase a M3 because it apparently looks like they hold value and that will also encourage me to stop wasting money on leasing. I know its a tough question, How much value can a model 3 retain 6 years from now. Do you think the car, Mechanically, can hold up for that long before falling apart? What encouraged me the most about buying the Tesla was the 8 year warranty. Where are the people with high mile M3's and what issues have you had?

2 year old (built Nov 2018) LR AWD 73K miles due to 160 mile daily commute. Had HV Battery contactor replaced 2 weeks after delivery - non issue since.

Rotated tires every 6K miles, refilled wiper fluid. Battery seems stable 295 miles at 100% SoC from orig 310.

I use AP or NoAP as soon as in Freeway (90% of commute), as much as it can on 1.5 - 2 hr drive.

Still runs like new.

:( Carvana values it at $30K since its 73K mile odometer at 2 years. It's all good tho.

Fingers crossed - will run it until it won't. Or until it can drive itself on $5K FSD. Maybe it can go get some $ back. ;)
 

jeremymc7

Active Member
Feb 3, 2013
1,754
902
U.S.
This has been discussed repeatedly. Several threads just in the last few weeks.

Opinions will vary. Personally I sold one of my 3’s after six months for more then I paid. Thousands more.

There are many studies and surveys that show 2 year deprecation on 3’s are minimal. For other Tesla, esp past 4 years is still way better than most any other EV or ICE.

Reminder the 8 year warranty is battery and motors, admittedly the most expensive parts. Otherwise it’s 4 years.

After 6 years is anyone’s guess. A lot can and likely will change by then.

Personally I purchased as my details analysis showed it was a better choice. That said I’ll likely sell at 3.5 years. That way it’s still under the 4 year warranty for the new buyer and there should be substantial changes by then in batteries and other performance, features, and maybe even cost.

If you’re going to keep for 6 years I wouldn’t even think about it, at least now. Ask again in 2 years and decide then to continue ownership or cut losses.
 

hellocar

Member
Jan 26, 2020
217
154
New Jersey
Depreciation so far is great, but no way to know what the next 6 years hold. We can't predict for sure how much Tesla will upgrade the hardware in newer models over that time frame, making people see the current ones as less desirable. Nor can we predict how many other cool EVs will finally hit the market, etc etc
 

TMThree

Active Member
Mar 28, 2019
1,118
1,780
USA
Value will plummet when Tesla makes a newer version with better features. You see that all day long in the older model S.

For the time being, model 3 values are good because old and new are about the same.

However, if the new cells are released for 3 and you have a new model 3 with lower cost and longer range, the value on the older ones will have to decrease, likely by a large margin.

Model S is 69k for 402 mile range. How much would you pay for a 2014 with 60kwh battery that is much slower? It had a MSRP of $69,900.
 

Weeee

Member
Aug 22, 2020
15
6
Seattle
Value will plummet when Tesla makes a newer version with better features. You see that all day long in the older model S.

For the time being, model 3 values are good because old and new are about the same.

However, if the new cells are released for 3 and you have a new model 3 with lower cost and longer range, the value on the older ones will have to decrease, likely by a large margin.

Model S is 69k for 402 mile range. How much would you pay for a 2014 with 60kwh battery that is much slower? It had a MSRP of $69,900.
Exactly this. When structural battery is here we’ll likely observe a step up in depreciation. Until then it is like the latest model without much feature differences.
 
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RoBoRaT

Zero Farts Given!
Nov 22, 2018
1,514
1,339
NorthSoCal
About 39900
280 @40K miles is some what low. I actually made a mistake above - I meant 285 miles @ 100% SoC.
But just now....280, just like yours.
It's all good - still gets me to do 160 miles commute without range anxiety. Screenshot_20201031-210223_Tesla.jpg
 
Last edited:

SergeyUser

Member
Feb 11, 2017
441
285
Austin, TX
Value will plummet when Tesla makes a newer version with better features. You see that all day long in the older model S.

For the time being, model 3 values are good because old and new are about the same.

However, if the new cells are released for 3 and you have a new model 3 with lower cost and longer range, the value on the older ones will have to decrease, likely by a large margin.

Model S is 69k for 402 mile range. How much would you pay for a 2014 with 60kwh battery that is much slower? It had a MSRP of $69,900.

This will change dramatically after wide and affordable battery upgrade options became available. Of course it is a big ‘if’ and many will tell me this will never happen. IMO it will, but we of course have to wait and see.
 

JTesmod3

Member
Jul 20, 2018
252
287
Los angeles
280 @40K miles is some what low. I actually made a mistake above - I meant 285 miles @ 100% SoC.
But just now....280, just like yours.
It's all good - still gets me to do 160 miles commute without range anxiety.View attachment 604369

As long as it sticks around that area I'm good, thinking about it too much just gets annoying... If it means anything I contacted tesla and they started it's within normal range and can fluctuate at times d/t conditions (cold, hot, etc.)
 
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