Once the Tesla Network is established, all Tesla's will be income producing assets. Income producing assets are usually valued based on some multiple of the income. Since a 5 year old Model 3 and 2 year old Model 3 earn the same amount, will the depreciation only be the difference in the expected maintenance costs (which is very little)? Assuming that a Model 3 can average $2/hour working in the Tesla Network with available demand for 15 hours/day after electricity costs. That would mean $900/month if someone bought the car just to keep in the fleet and never enjoy for personal use. That number should stay the same for a used Model 3 so how will depreciation work? I think it's very likely these cars will see VERY little depreciation, only enough to match additional maintenance and wear/tear costs. Think if a $45k Model 3 suddenly sold after 3 years for $25k, the investment return on buying them purely to put into the Tesla Fleet would be too great and demand would drive up the price.