I just sold my 2 year old Model 3 for more than I paid for it brand new from Tesla.
Context, my wife has a LR Model 3 which is our main car and I purchased the “off-menu” $35k SR Model 3 as a second runaround car in March 2019. We are both WFH now so we don’t need two cars. I only put 8k miles on the SR after 28 months and I looked after it so it was close to new condition.
Many of you will remember there was talk of a solid metal roof, cloth seats, lower range on the SR $35k Model 3 but Tesla didn’t end up making those, instead delivering the SR+ without AP. That makes sense because just before AP came ‘included’, it was a $3k option and Tesla were selling the SR+ for $38k at the time.
In June 2020, Tesla did the EOQ incentive on AP for $2k so I paid the extra then to fully unlock the software.
So in total, the car owes me $37k + fees & taxes.
However, since I purchased the car in March 2019, it qualified for $3,750 Fed tax credit and PG&E provided an incentive check of $900.
So really, the car owes me $32,350.
I just sold it for $38k! I didn’t believe it until I had the check in my hand but it seems the secondary car market is bonkers right now. Even when you add in the taxes and fees, I still sold it for more than I paid new from Tesla, 28months and 8k miles later...
This says a lot about demand for Tesla cars but it sounds like demand for all used cars is high due to all manufacturers feeling the global supply chain crunch, chip shortages, rental car companies buying up a lot of the used cars after they sold them last year and people opting to drive instead of taking public transport due to the pandemic.
I likely could have sold it for a little more privately but I got a quote of around $37k from Carvana and a local dealer agreed to buy it for $38k so that was most convenient. The dealer told me that that June was an all time record for them, for both buying and selling cars.
Anyway, I just wanted to share this with the community in case others are in a similar situation and are thinking of selling.