Why are these used Teslas as much as new ones?

[Target]

Old S's were in the low to mid 20's, you might get one for less than 30k now. The buying season started early this year due to tax returns + relief money all dropping at the same time. Also new car production issues due to chip shortages. If you haven't bought what you want already this year, expect to pay a premium. I had that conversation with my wife a few weeks ago that if we needed another car the time was then. It most likely gets worse from here all the way until next winter.

 

[Super_Popular]

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.

Just wait, they will come down again.

 

[2101Guy]

The value of a user car is what a buyer is willing to pay.

 

[Mr X]

Because Tesla's are appreciating assets. That's why

 

[gearbox]

The demand for a tesla is much higher than most people think and it's only increasing. However, I was at a Nissan dealership last Friday as a buddy was buying a 2021 GTR and we had to wait over an hour to see the finance people and sign the paperwork. There were 4 other people in front of us buying various cars. I personally thought he would receive some kind of VIP treatment as the price tag on the GTR was around 125k+.
Crazy times we are seeing

 

[Target]

Demand is sky high for all cars right now, some is driven by all the cash the government is sending people. Tax refund time drives higher demand for cars anyway, and then we piled even more cash on. There are also chip shortages affecting various models across many brands reducing the supply of new cars, so the average discount is shrinking. This is a crummy time to buy a car.

 

[azred]

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.

This is crazy, if true. Tesla is years from a robotaxi fleet, if it ever happens. I can’t decide if Musk is a serial liar or just wants to put more pressure on his employees by throwing out absurd timelines -- or both.

 

[gearbox]

I wouldn't bet against Musk in any of his claims. It does seem like many years out for robotaxi but maybe they become strictly certain destinations first, like LAX to Disneyland or something like that.

 

[Greg63]

It'll take a long time before governments will allow a robotaxi fleet. It'll be long after the tech actually works and is safe which doesn't look like that's anytime soon. Tesla would be foolish to hold onto off leased M3s.

There is a severe shortage of used cars on the market and prices have risen a good bit. There's not near enough supply for the demand that's out there.

 

[Physicslawyer]

It will be interesting if the $7500 rebate returns, to see what happens to the used Tesla market. I can't see buying used right now. This is more of a want, not a need. I have enough cars, I just want a change from 14 years of commuting daily with a Prius.

 

[Mickie]

You're seeing a lot of these cars where owners paid upwards of ~$160k just to be hosed by Tesla's price reduction across the board. It's the tax one pays to ride the cutting edge of flagship models, especially with this tech car company. While there's a small void where some of these cars fit in performance-wise between the now Long Range and the regular Plaid, paying that handsome premium to be a smidge above the performance of a brand new Long Range but with less warranty and tech is almost objectively silly.

And yeah, the aftermarket add-ons like wraps, nanocoating etc can potentially help a sale along in a private setting, or hurt things by reducing your audience (not everyone wants dark tints or your choice of custom wheels). It's almost always sunk money.

 

[OGKobraTribe]

You're seeing a lot of these cars where owners paid upwards of ~$160k just to be hosed by Tesla's price reduction across the board. It's the tax one pays to ride the cutting edge of flagship models, especially with this tech car company. While there's a small void where some of these cars fit in performance-wise between the now Long Range and the regular Plaid, paying that handsome premium to be a smidge above the performance of a brand new Long Range but with less warranty and tech is almost objectively silly.

And yeah, the aftermarket add-ons like wraps, nanocoating etc can potentially help a sale along in a private setting, or hurt things by reducing your audience (not everyone wants dark tints or your choice of custom wheels). It's almost always sunk money.

Some of what you said is exactly true. But the main reason it that Tesla stock price only cares about how many new cars they sell. The used market doesn’t help them raise their valuation.

 

[Greg63]

Some of what you said is exactly true. But the main reason it that Tesla stock price only cares about how many new cars they sell. The used market doesn’t help them raise their valuation.

Actually as they eventually expand their service departments to handle repairs that should become a major source of revenue and profit which will help their earnings per share.

 

[gearbox]

Another Prius commuter here and I want to get a 3 or Y but the value after 6+ years scares me. If anyone remembers that Model S owner that had 170K (about) and needed a new battery. Battery cost was 20k and cars value was 21k haha
I bought my Prius used and it will still have some value after 200K miles.

I got off topic a little but the used tesla market is still very strong but you can find some deals out there especially if you are going to ceramic coat and PPF the whole front of the car. Both those add ons are not cheap.