Used Model S Value

[txelectric]

I have a question about buying a used Model S.

Coworker purchased new in 2014. Standard 85kwh battery. Non performance and non dual motor. He wants to sell it now that it’s out of warranty. He is going to go to Carmax and get their offer and then sell it to me for that price. Sounds like it will probably be a pretty good deal.

Does anyone have any idea what I should expect the price to be? Battery and drive motor were recently replaced (2022). Mileage is in the mid 30k, and has been very lightly used by his wife. Would love to get everyone’s thoughts.

 

[Eric9610]

I have been debating a used S or X and all I can say is be prepared for large cost repairs. The battery pack is $22k and it sounds like the S and X packs are not as good as the 3 / Y... even with the pack replaced recently I think you should consider that in the cost of your purchase knowing in 3-5 you may need to replace the drive unit and pack again... for this reason I personally only consider new Tesla's.

 

[Plood]

I bought an 85k mile used 2018 from a friend with the same friendly offer. In Feb the wholesale offer was very low. Great news for me. A couple months before it was about 25% higher.

My advice is that the market can fluctuate a lot and you might get a great deal or one to pass on if Carmax is overpaying to fill an inventory hole.

Don’t let the worrywarts bother you. Your battery should be just fine. But reserve 10-20% of purchase price to get things fixed. without breaking your budget. I like getting a good used deal then
“making it new”.

Also know the options and their value.

 

[NewbyMaybe]

30k miles? Whoever he talks to at CarMax will be drooling and trying to buy it for themselves.

 

[riles246]

I have been debating a used S or X and all I can say is be prepared for large cost repairs. The battery pack is $22k and it sounds like the S and X packs are not as good as the 3 / Y... even with the pack replaced recently I think you should consider that in the cost of your purchase knowing in 3-5 you may need to replace the drive unit and pack again... for this reason I personally only consider new Tesla's.

I'm going to respectfully disagree. Pack replacements are the exception, not the norm. I certainly wouldn't expect to need a new pack in the next "3-5 years". I currently drive a 2015 with an original pack and have lost about 12 miles range compared to where it was when new. Unless you supercharge all the time and always go to 100%, I'd expect to get 8-10 years at minimum from a new pack.

Drive units can be hit or miss but I'm also on original drive units. I certainly wouldn't spend $110k on a new S to avoid maybe spending a few thousand on a drive unit in the future for a $30kish car.

Regarding value, I haven't shopped in a while but I'm thinking probably low 30's due to the rear wheel drive, but the ultra low mileage could make it mid-$30s. Since Carmax does try to make a profit maybe it'll be high $20s.

 

[glide]

He is going to go to Carmax and get their offer and then sell it to me for that price. Sounds like it will probably be a pretty good deal.

How on earth is that a good deal for you?

Also, do not own an older Tesla with an expired battery warranty.

 

[WallysRide]

If the HV battery has been replaced this year as you describe, make sure you know what kind of replacement - refurbished or new. That would make a big difference as to how good a deal this is. I was willing to buy an older S with only 1 year of warranty remaining b/c it had a new battery replacement. Others might still find that too risky to carry beyond the battery warranty period.

 

[CapeOne]

How on earth is that a good deal for you?

If someone is looking to buy now, being able to buy the car at the CarMax wholesale/offer price (assuming CarMax isn't overpaying) would be better than having to pay retail.

 

[BrownOuttaSpec]

You can try to compare prices to other used Tesla cars here: Only Used Tesla | A Place Exclusively Dedicated To Buying And Selling Used Teslas

If the car doesn't have AutoPilot (AP1) then I would walk away from the deal since it is missing the main thing that makes the car modern. Additionally does it have the MCU2 upgrade? That really helps the car feel new as well with the snappy screen (My thoughts on the upgrade here: link)

Even if it had both of those things I wouldn't pay more than $30k and even that I would be hesitant.

Even though EVs have less moving parts they still do go bad eventually. Early Model S cars especially 2012-2014 seemed to be beta products, 2015-early 2016 they seemed to be a little better/refined but owning any Tesla out of warranty could be a unexpected large expense.

 

[Auto007]

I would say you factor in the high cost of drive unit and battery replacements anytime purchasing an used out warranty tesla. If the purchase price validates your budget with forsight cost in your budget reach I say go for it. Life is short and if your budget can afford the replacement costs (maybe a big if needed, even though most likely, but still not 100% will go bad), I would say for it. I'm in the similiar boat with purchasing a 13 MS P85+ with mid thirties miles for mid twenties cost. I figured even if the drive unit or battery or both need replacing, I'm still looking at around $44k with then a car with 4 year warranty if they happen to go bad about the same time. I say that's still worthh it.

 

[DerbyDave]

How on earth is that a good deal for you?

Also, do not own an older Tesla with an expired battery warranty.

Carmax makes good trade-in value offers. They have a nationwide network of people wanting to buy cars, and they might have someone in another state interested, so sometimes they will make an offer that is really generous. It takes all the hassle (and risk) of selling the car yourself. You get paid immediately and the deal is done.

If they are willing to pay you an amount, and make a profit by selling it at retail. It is a realistic value of the car. It would be unlikely a buyer could buy that car at a lower price, so it is a good deal for everybody. The seller could always get more money by selling it himself to a stranger, so he is helping his friend by not making any more money than the offer from Carmax.