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Blog Study Shows Impressive Resale Value for Model 3

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A recent study showed some impressive resale figures for the Tesla Model 3, saying the sedan holds its value more than five times better than other EVs. 

Car search engine iSeeCars.com analyzed more than 6.9 million car sales to identify models with the greatest loss in value after three years. 

“The Tesla Model 3 is still very much in high demand since it started production in 2017,” the report said. “Even though it doesn’t present a bargain compared to its new car price, it offers consumers a more affordable option for owning a Tesla.”

The three available Tesla vehicles currently in production with used car versions available all have below-average depreciation for the segment. 

The report said one reason Teslas defy the high depreciation of the EV segment is because over-the-air software updates help keep even the older versions current. As such, consumers are likely willing to pay higher prices for the Model S and Model X than what they are willing to pay for other used luxury vehicles, the report found.

“Categorically, electric vehicles depreciate more than the average vehicle because resale values take into account the $7,500 federal tax credit and other state and local credits that were applied to these vehicles when they were bought new,” iSeeCars CEO Phong Ly said in a release. “Because the technology of EVs changes at a rapid pace, obsolescence also plays a role in their dramatic depreciation as well as consumer range anxiety and lack of public charging infrastructure.”

 
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The funny part is Tesla will probably take FSD away once you sell the car and charge the new owner for FSD again....at this point, the used car market is treating FSD like an aftermarket accessory


If trading it in TO Tesla I'd expect you get $0.00 for FSD since as you mention they can remove it and sell to next guy.

Private party sale they can not remove it if it never passed back to their ownership- so I'd expect to recover a significant amount of what you paid for FSD.... (especially if you paid for it a couple thousand bucks ago)- because at that point the choice the buyer (if they WANT FSD) has is pay $8000 for it to Tesla, or pay say 6k to you for literally the same thing.

Paying you is better for them.
 
I have to say, my 3 was ~ 60k all said and done and I just sold it last week. It barely booked out at 45k. I have to disagree with this study. It's great to see insurance stepping up and paying higher than replacement cost! Seems like totaled 3s are doing much better than 3s for sale. I'm still happy with what I got, but I'm curious if this study was done in one location that favors EVs more than other areas?

If you bought the 3 in 2017 - you should be thrilled - especially if "all said and done" included sales tax. If you bought it last week you have reason to be disappointed.
 
Maybe I'm not reading the numbers properly but I just asked Tesla for a trade in estimate for my 2019 Model 3 SR plus with 14,200 miles and FSD as I would like to buy a Model Y. They came back with a $34,000 number which is no where near the high resale values suggested here and crazy if you subtract the $7,500 I paid for FSD. Perhaps someone out there can clarify. Thanks!

I always find these statistical prices are very misleading. They only reflect the purchased price. You must sell it privately to get close to the quoted prices. I have an under 1 year M3 SR+ with 3,300 mile (due to the CV-19). I got a quote of $29,600 for trade in for MY. Dealers typically want to make at least $8k on a used car in this price range. Your quote is inline with my quote. So they quoted $4,400 for the FSD Over mine. You never get full price for options. It was a $6000 option for FSD before 9/2019 when I purchased my M3.

I see used car sites list the M3 SR+ for >39k.But it does not indicate what they really sold for.
 
I bought a new 2019 SR+ (White/black on Aeros) for $38,990.

Sold it to Carvana two weeks ago for $35,500...with 21,700 miles.

In comparison, Tesla’s offer was $27,000 and a local Jeep dealer offered me $33,500 for it on a potential trade.

Cliffs: DON’T SELL/TRADE IT TO TESLA.