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Model 3 used prices compared to total market?
- Thread starter popperdopper
- Start date
Tesla model 3s have had pretty low depreciation and currently continue to do so. So much so, in fact, sometimes the used ones are priced very close to the price of a new one.
So there has not been some spike in model 3 used prices like some other brands, depreciation is just pretty mild. Every couple weeks or so, someone posts on these boards something to the effect of "what is wrong with these model 3 used prices?!?!?!?!?" because they expect to be able to buy one used for a great deal, and those are few and far between.
TL ; DR ... if you are looking to "score a deal" you can try keeping your eyes open, but should plan on waiting, and you may be waiting for quite some time unless you get lucky finding one being sold by someone who doesnt know the market on them (or the market changes significantly).
So there has not been some spike in model 3 used prices like some other brands, depreciation is just pretty mild. Every couple weeks or so, someone posts on these boards something to the effect of "what is wrong with these model 3 used prices?!?!?!?!?" because they expect to be able to buy one used for a great deal, and those are few and far between.
TL ; DR ... if you are looking to "score a deal" you can try keeping your eyes open, but should plan on waiting, and you may be waiting for quite some time unless you get lucky finding one being sold by someone who doesnt know the market on them (or the market changes significantly).
lawmangr
Member
I think part of the cause for the used Model 3 market oddity is that Tesla has actually *lowered* the price of a new Model 3 over time. That is something you rarely see in the larger automotive market. Most auto manufacturers tend to raise the price and just handle lack of demand with rebates and the like. That's unfortunate for those who purchased a Model 3 prior to a price drop. Like one of the posters above, I've seen used going for as much or more than new. I think part (or all?) of that is the seller basing the sale price off of depreciation from what he/she paid for it, completely disregarding what new ones cost now similarly equipped. What REALLY shocks me, is that some people pay those ridiculous used prices when they could have it new. I really do not understand that.
same. In Ontario you'll see SR+ used for $49000 with 32000km when you can buy a brand new one for $52000-$5000 incentive ($47000). My only logic is, 1) people cant wait 4-8 weeks delivery 2) people need "special" financing from the dealership 3) looking for more on a trade in.
XLR82XS
D M C
When I started looking to purchase Model 3 I found used ones to be only a few grand less than new. I bought new and stayed away from early production cars.
I checked last week and the KBB value was $47K on my 2020. with 22K miles.
I checked last week and the KBB value was $47K on my 2020. with 22K miles.
Uncle Paul
Well-Known Member
In automobiles, there are really two marketplaces. Those that mostly only buy new, and those who have been conditioned to shop used to save on the initial depreciation.
The Tesla market is different. Much less initial depreciation for current model cars. They hold their value much more than ICE competitors. You still see posts that people are not happy with wholesale trade in pricing they are offered for relatively new cars, but at the retail level the pricings are relatively close.
What disuaded many from buying used is that the pace of improvemtents for Tesla is rapid. Often even a car only 6 months or so old may lack many recent upgraded that makes buying them at a slight discount less appealing.
The Tesla market is different. Much less initial depreciation for current model cars. They hold their value much more than ICE competitors. You still see posts that people are not happy with wholesale trade in pricing they are offered for relatively new cars, but at the retail level the pricings are relatively close.
What disuaded many from buying used is that the pace of improvemtents for Tesla is rapid. Often even a car only 6 months or so old may lack many recent upgraded that makes buying them at a slight discount less appealing.
CapeOne
Active Member
It's not so much that Teslas have good resale values, it's that Tesla new prices have dropped a fair amount over the years ESPECIALLY with the MS and MX. So, comparing against what a new one is going for today may look like they hold their value well but when you compare against what the car had originally sold for new, it can be a different story.
However, there are still some decent values out there e.g., 2019 M3 Performance with 39k miles, FSD, extended warranty, clean history for $47,900 at Tesla (2019 Model 3 | Tesla). A comparable new one today is over $18k higher.
However, there are still some decent values out there e.g., 2019 M3 Performance with 39k miles, FSD, extended warranty, clean history for $47,900 at Tesla (2019 Model 3 | Tesla). A comparable new one today is over $18k higher.
Yep. Trade-in | TeslaGood points, the new car drops seem to have stabilized (don't tempt Elon)
Options do tend to depreciate the most like any other car. I wonder what TSLA will value my 19 SR w/ AP @. Any way to find out w/o ordering a new car yet?
Buddy
Member
I literally laughed our loud. That site quotes my 2016 Model S 75kW at $18,000.
Kbb gave me a cash offer for $34,000.
New price was $72,000.
I guess I'll never sell.
CapeOne
Active Member
You can get a trade-in "estimate" before ordering BUT it's just an estimate and may be higher than what turns out to be Tesla’s actual final offer e.g., Tesla could give you an estimate of $30k but after ordering and providing more information, it may drop to $27k.
TSLA has one advantage here in AZ, sales tax is paid on the difference so as long as they're within 9% of other offers I might go with them for convenience.
I've seen that they have really low offers for their own cars though ?
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