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

Why are these used Teslas as much as new ones?

Physicslawyer

Member
Feb 19, 2020
67
40
NY/PA
I'm open to buying a used Tesla, but it seems to not make sense. People are asking as much for a used car as a new car. There is a car here, for example, that is a few years old, has around 40k, and the owner is asking almost the price of a new car. What am I missing?
 

El joe

Member
Jan 29, 2019
321
219
Bay Area, CA
For some reason, people like to factor in warranty when selling used cars here. Plus their own add-ons and being able to "skip the line" in buying a used one versus a new one.
 

Physicslawyer

Member
Feb 19, 2020
67
40
NY/PA
At 40k miles, the warranty is even up. They want three thousand dollars less for a 3 year old car with that many miles. I've seen similar. There appears to be no reason to buy used.
 

CapeOne

Member
Jun 14, 2016
794
499
New England
A seller can ask whatever they want but asking price and selling price aren't necessarily going to end up being the same thing. Sometimes people start high but soon realize they are overpriced and will reduce their asking price. I've seen asking prices on here drop many thousands of dollars within just a few days. Also, make sure when you are comparing against new that you include all of the factory extra cost options a particular car may have, the destination charge, etc. Destination charge, multi-coat paint, 19" wheels, and black/white interior will add over 15% to the base price of an M3 SR+, for example. Speaking of options, another thing that happens is that some sellers overvalue the aftermarket items they have on the car.

There are plenty of used Teslas selling for a lot less than new. Which years and models are you considering?
 

CapeOne

Member
Jun 14, 2016
794
499
New England
Not sure what you consider enough of a discount but below is a 2020 M3 Performance AWD just east of you in New Jersey with 19k miles, clean history, 1 year additional warranty, etc. and is priced about $12k less than retail of a custom order new one.
 

Black306

Member
Oct 14, 2019
498
721
Sacramento
Not sure what you consider enough of a discount but below is a 2020 M3 Performance AWD just east of you in New Jersey with 19k miles, clean history, 1 year additional warranty, etc. and is priced about $12k less than retail of a custom order new one.
That’s a Stealth Performance so the difference is more accurately $5k less than retail. Current Performance models come standard with what was called a Performance Upgrade Package and it was a $7k option. Stealth Performance models were $50k new.
 

CapeOne

Member
Jun 14, 2016
794
499
New England
That’s a Stealth Performance so the difference is more accurately $5k less than retail. Current Performance models come standard with what was called a Performance Upgrade Package and it was a $7k option. Stealth Performance models were $50k new.

True. When that particular car was new its retail price would have been $51,190 without PUP.
 

Target

Supporting Member
Apr 9, 2018
491
350
Chicago Land
To the OP's point I figured 2018 model 3's would be cheaper by now, but they are holding value really well. Most cars will be half the price when they are three years old, a 2018 model 3 was about $50K so that would imply I could buy a used 2018 for 25K reasonably easily, but I haven't seen that to be the case. Good news for those that bought the 2018 new! Not so good news for those of us hoping to scoop up a quality model 3. This may change next years once the model 3's that were leased start hitting the market, but for now, I agree, they seem to be expensive in general.
 
  • Like
Reactions: T-Will

UltradoomY

Member
Mar 13, 2020
112
277
Tampa, FL
To the OP's point I figured 2018 model 3's would be cheaper by now, but they are holding value really well. Most cars will be half the price when they are three years old, a 2018 model 3 was about $50K so that would imply I could buy a used 2018 for 25K reasonably easily, but I haven't seen that to be the case. Good news for those that bought the 2018 new! Not so good news for those of us hoping to scoop up a quality model 3. This may change next years once the model 3's that were leased start hitting the market, but for now, I agree, they seem to be expensive in general.
Leased model 3 and model y cannot be purchased after and are for the Tesla robotaxi fleet.
One of the reasons used model 3's retain their value so well.
 
  • Disagree
Reactions: M3BlueGeorgia

CapeOne

Member
Jun 14, 2016
794
499
New England
Leased model 3 and model y cannot be purchased after and are for the Tesla robotaxi fleet.
One of the reasons used model 3's retain their value so well.

While the lessee can't direclty buy an M3 or MY at lease end, a third party dealer can. If they find a dealer willing to act as sort of an intermediary, the lessee can buy the car through them. Whether or not it's worth it will depend on the buyout price and what, if any, charges/fees the dealer seeks.
 

Target

Supporting Member
Apr 9, 2018
491
350
Chicago Land
Leased model 3 and model y cannot be purchased after and are for the Tesla robotaxi fleet.
One of the reasons used model 3's retain their value so well.
We know that is what Elon said some time ago, but Tesla doesn't yet have a robotaxi business. While it's possible they will have one, they also may not, and have to sell those cars on. Only time will tell, but my opinion is that they will be selling those cars at least for a year or two. If pricing stays the way it is now this will be a nice windfall for Tesla, selling used cars with a substantial profit post lease.
 

MoparGuy

Member
Oct 1, 2019
42
12
San Diego
My friend, people spend $2k-$4k on xpel and ceramic coating and they imagine the next buyer is willing to pay that amount too, to me those are $300 add-ons at best, others spend $900 on tinting while my local dude do it for $90-$140, they reflect all this bs on their asking price plus they are under the impression that just because there is 4 weeks or 6 weeks waiting time you are gonna be a fool and buy 2 year old model for the price of brand new.
I personally found Vroom is the most reasonable place to buy Tesla, they drop prices, you just have to be fast and patient, they had a white 2018 M3 Performance two weeks ago for $41K!! yes, only 37K miles, I tried to buy it literally 20 minutes after I got the notification but it was already sold.
 

Michael A

Member
Apr 3, 2018
111
54
Center Moriches, NY
2 months ago 2018 Model 3 Dual Motors where selling for $35k- $38k now 2 months later the least expensive Model 3 Dual Motor is $4k-$6k more.
Used car values have skyrocketed not just for Tesla's but for ALL used cars.
 
  • Like
Reactions: 2101Guy

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