Welcome to Tesla Motors Club
Discuss Tesla's Model S, Model 3, Model X, Model Y, Cybertruck, Roadster and More.
Register

Tesla Model 3 Used Car Values

Clark_Kent

Member
Jun 23, 2020
331
247
Smallville, KS
I just cleared space in my stable for a new car and I plan to order a Tesla Model 3 in about 2 months. With the current expected delivery timeframe of 8-12 weeks, I will receive the car as early as October or as late as November. I'm completely fine with that delivery window. In the interim, like any informed buyer, I'm watching the used car market closely and would entertain a used M3 if what I like pops up for a reasonable asking price. What has baffled me is what people are asking for their used cars relative to the actual market. Why would I spend thousands more or the same price for a used vehicle when I can simply go on the Tesla website and order new or select from current inventory? I can also benefit from 1,000 miles of SC with a referral code and collect an incentive from an end of quarter push (if applicable). You also instantly bypass stories, logistics to retrieve the car, used auto loan interest rates (if financing), negotiating, and the list goes on.

These cars aren't allocated like a Porsche GT3 for example. Other than not being able wait a couple months or a few days, what's the draw? I'm not trying to be facetious, I'm legitimately trying to understand if I'm missing something here. Can one of you savvy vets break it down?
 

CapeOne

Member
Jun 14, 2016
825
524
New England
I don't know how many are still getting original sticker prices or more on used M3s these days but arguments for it have/had been: 1) being able to get the car faster 2) being able to inspect and drive the exact car in person, kind of playing into the idea you may get a new custom order car with notable flaws/defects that would need to be addressed (can be an annoying process) or lead you to reject the car and have to wait even longer for another one.

#1 I think is pretty meaningless as the benefits of buying the exact car you want (colors, options) brand new with full warranty, potentially being able to take advantage of state/local new EV tax credits, etc. is worth waiting a couple months.

#2 I think sadly speaks to some of Tesla’s ongoing quality/delivery/customer service issues but even with that, I feel buying brand new is worth the risk.
 

vickh

Active Member
Dec 16, 2018
3,106
485
az
I don't know how many are still getting original sticker prices or more on used M3s these days but arguments for it have/had been: 1) being able to get the car faster 2) being able to inspect and drive the exact car in person, kind of playing into the idea you may get a new custom order car with notable flaws/defects that would need to be addressed (can be an annoying process) or lead you to reject the car and have to wait even longer for another one.

#1 I think is pretty meaningless as the benefits of buying the exact car you want (colors, options) brand new with full warranty, potentially being able to take advantage of state/local new EV tax credits, etc. is worth waiting a couple months.

#2 I think sadly speaks to some of Tesla’s ongoing quality/delivery/customer service issues but even with that, I feel buying brand new is worth the risk.

Yes. In some ways buying a gently used Tesla is better since all QA issues have been addressed.

Also I wonder if OP is factoring in tax credits with the asking price. Is there a place to see used car transactions like TruCar (not asking prices)
 
Last edited:
  • Disagree
Reactions: M3BlueGeorgia

jjrandorin

Moderator, Model 3, Tesla Energy Forums
Nov 28, 2018
8,802
9,752
Riverside Co. CA
There is about 1 post every month or so of someone saying, in effect:

What has baffled me is what people are asking for their used cars relative to the actual market.

As you likely know, what the cars sell for, IS the market... so saying "relative to the actual market" means you have some idea of what the cars "should" sell for.

At some point the prices will likely stabilize, but in general:

1. Teslas currently hold their value pretty well. Much better than BMW / Audi / Mercedes, as far as new cars to late model used cars go.

2. People buy these cars and do things like tint the windows, put on paint protection wraps, ceramic coatings, etc and expect to recoup that money in one form or another. On a BMW / Audi / Mercedes, its somewhat understood that those are just sunk costs, and will not really increase the value of your car. In "TeslaLand", people still ask for (and sometimes get) money for that stuff they have done to their car.

3. Sometimes people cant wait, and there is still the "idea" by many that these cars are somehow hard to get, etc.

4. Tesla has done a pretty good job of positioning the car as a "luxury" vehicle, thus desirable by many, when in fact it is a Mass market car.

You are, in general, currently better off ignoring the "standard" process of looking for a late model used version of the car you want, because in the case of the tesla model 3 its usually better to just go ahead and get a new one, because the current difference in pricing is small (to nonexistent, if you consider local state rebates, if applicable, etc).
 
  • Like
Reactions: hcdavis3 and vickh

vickh

Active Member
Dec 16, 2018
3,106
485
az
There is about 1 post every month or so of someone saying, in effect:



As you likely know, what the cars sell for, IS the market... so saying "relative to the actual market" means you have some idea of what the cars "should" sell for.

At some point the prices will likely stabilize, but in general:

1. Teslas currently hold their value pretty well. Much better than BMW / Audi / Mercedes, as far as new cars to late model used cars go.

2. People buy these cars and do things like tint the windows, put on paint protection wraps, ceramic coatings, etc and expect to recoup that money in one form or another. On a BMW / Audi / Mercedes, its somewhat understood that those are just sunk costs, and will not really increase the value of your car. In "TeslaLand", people still ask for (and sometimes get) money for that stuff they have done to their car.

3. Sometimes people cant wait, and there is still the "idea" by many that these cars are somehow hard to get, etc.

4. Tesla has done a pretty good job of positioning the car as a "luxury" vehicle, thus desirable by many, when in fact it is a Mass market car.

You are, in general, currently better off ignoring the "standard" process of looking for a late model used version of the car you want, because in the case of the tesla model 3 its usually better to just go ahead and get a new one, because the current difference in pricing is small (to nonexistent, if you consider local state rebates, if applicable, etc).

agreed, It's like arguing the stock market/TSLA is overvalued (it is! )

Esp. w/ tax credits I consider my SR to be a Mass market car price that most consider luxury. (a hidden gem) I've even seen/heard of some getting more resale than what they paid OOP factoring in tax credits..

I doubt this will last once new tech HW 4.0 etc is released just like used S/ X market.
 
Last edited:

Stickboy46

Member
Feb 27, 2020
236
199
Kansas
I just cleared space in my stable for a new car and I plan to order a Tesla Model 3 in about 2 months. With the current expected delivery timeframe of 8-12 weeks, I will receive the car as early as October or as late as November. I'm completely fine with that delivery window. In the interim, like any informed buyer, I'm watching the used car market closely and would entertain a used M3 if what I like pops up for a reasonable asking price. What has baffled me is what people are asking for their used cars relative to the actual market. Why would I spend thousands more or the same price for a used vehicle when I can simply go on the Tesla website and order new or select from current inventory? I can also benefit from 1,000 miles of SC with a referral code and collect an incentive from an end of quarter push (if applicable). You also instantly bypass stories, logistics to retrieve the car, used auto loan interest rates (if financing), negotiating, and the list goes on.

These cars aren't allocated like a Porsche GT3 for example. Other than not being able wait a couple months or a few days, what's the draw? I'm not trying to be facetious, I'm legitimately trying to understand if I'm missing something here. Can one of you savvy vets break it down?

You place an order in August/September, you will get the car by the end of September. 8-12 Weeks is a beginning of quarter time frame as they deliver most in the last month of the quarter. With Model Y ramping up, you very well could get paired with a car within a week of placing an order.
 

acarney

Active Member
Jul 9, 2019
2,493
1,553
Richland, WA
Ya, a lot of people have sunk costs of $3k to $5k easy with tint and PPF, and they probably think that's value in the car because you would have to spend that much doing the same. In addition, trade costs do seem to be a bit high in general, possibly because there just ins't many Tesla's on the used market, so if someone is seeing one for $2k discount (plus no $1200 destination fee) and only has 8 to 10k miles or something they feel like it's a deal...

I actually debated trading my SR+ to Carvana when they offered like $38.4k and either upgrading to a LR Model 3 or actually just buying another SR+ (I'm having issues refinancing my car due to no NADA values) but then I added up the $3k I spent on tint and PPF and including tax on the new car it would be like a $6k+ difference which washes away any savings from lower interest rates (and then some).
 
  • Helpful
Reactions: Arctic_White

About Us

Formed in 2006, Tesla Motors Club (TMC) was the first independent online Tesla community. Today it remains the largest and most dynamic community of Tesla enthusiasts. Learn more.

Do you value your experience at TMC? Consider becoming a Supporting Member of Tesla Motors Club. As a thank you for your contribution, you'll get nearly no ads in the Community and Groups sections. Additional perks are available depending on the level of contribution. Please visit the Account Upgrades page for more details.


SUPPORT TMC
Top