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Shopping for a Used Tesla – Is It Value It?

In at the moment’s risky automobile market and with the worldwide economic system in an uncomfortable place, many individuals are skipping the brand new Tesla configurator and in search of used Teslas to suit their wants. However how do we all know whether or not or not shopping for a used Tesla is price it? You might even be considering one thing like “Ought to I purchase a used Tesla?” It that’s the case—don’t fear, we’re right here to assist!

We’re no strangers to this query (actually, we hear it on a regular basis), so we’d like to make use of at the moment’s put up to speak you thru the problems concerned in shopping for a used Tesla. By evaluating costs, manufacturing instances, EV tax credit, Full Self-Driving Software program, Supercharging prices, battery life, and guarantee points, we hope we can assist you come to a strong conclusion by yourself about whether or not shopping for a used Tesla is price it (spoiler alert: basically, we’d say it completely is!).

Shopping for a Used Tesla—New vs Used Costs

To begin out our dialogue on new vs used Teslas, let’s evaluate costs on the 4 fashions Tesla is at present producing: Mannequin S, Mannequin X, Mannequin 3, and Mannequin Y.

Notice: Simply to be clear, whereas you can too discover some used authentic Tesla Roadsters available on the market, we’re not going to incorporate them on this dialogue.

Mannequin S

A brand-new Mannequin S, straight from the configurator, begins at about $104,990 (or $135,990 for the Mannequin S Plaid) and choices all the best way as much as $128,990 ($159,990 for the Plaid).

Used Tesla Mannequin S costs fall wherever from $30,000 – $140,000, spending on the 12 months and construct. For the reason that Mannequin S is the earliest manufactured automotive in Tesla’s manufacturing line, you can too discover them for the bottom value, however they will even have a few of Tesla’s earliest battery packs and in lots of instances, some fairly excessive mileage.

Typically, you’ll find current years (2020, 2021, 2022) of the Mannequin S with current tech and low mileage on the used marketplace for beneath $100,000 (with some within the $75,000 to $85,000 vary). If we base the brand new vs used resolution on value alone, we expect that it makes numerous sense to contemplate a used Mannequin S over a brand new one.

Mannequin X

The Tesla Mannequin X at present sells for a base value of $120,990 and choices as much as $152,490. For the Mannequin X Plaid, pricing begins at $139,990 and choices all the best way as much as $155,590.

A used Mannequin X nonetheless goes for $48,000-$135,000. This variance is comparatively extensive because the Mannequin X has additionally been out for fairly a couple of mannequin years. Present used costs for a Mannequin X common about $90,000-$110,000  for current mannequin years (2020-2022).

With these costs in thoughts, you may simply save $10,000 or extra by going with a used Mannequin X over a brand new Mannequin X. Older Mannequin X autos have extra worth because of the potential for FSD and transferable free supercharging (however we’ll get to these later).

Mannequin 3

A brand new Tesla Mannequin 3 Normal Vary (RWD) begins at $46,990 and choices as much as $66,490. Minimal and most costs for the Mannequin 3 Efficiency are $62,990 and $80,990, respectively.

The brand new Mannequin 3 Lengthy Vary isn’t an out there possibility within the configurator on the time of writing, however a restricted quantity 2023 Mannequin 3 Lengthy Vary are scheduled to be in inventory quickly, ranging in value from $57,990 to $59,990.

How a lot is a used Tesla Mannequin 3? Used Mannequin 3s might be discovered for $32,000-$67,000, with a mean value of $40,000-$50,000 for the newer mannequin years (2020-2022). Whereas it looks as if not almost sufficient of a value break for used vs new Teslas, the excellent news is that these costs could change within the close to future. Take a look at our article on why EV costs are literally falling to search out out extra.

Mannequin Y

The 2023 Mannequin Y Lengthy Vary begins at $65,990 and choices as much as $89,990. For the 2023 Mannequin Y Efficiency, costs begin at $69,990 and possibility as much as $87,990.

A used Mannequin Y sometimes goes from $40,000 to $69,000, with the typical value of a more moderen Mannequin Y (2020-2022) round $60,000. Contemplating the truth that the Mannequin Y has solely been out for these years, costs aren’t as affected by age and guarantee concerns and have stayed comparatively excessive (nonetheless, which will quickly change; see the pricing dialogue on the Mannequin 3 above).

That’s a wrap on new and used Tesla pricing! Yet one more factor: don’t neglect to issue within the vacation spot charge of $1,200 that Tesla expenses for all new Tesla deliveries!

New Tesla Manufacturing Instances & Used Tesla Availability—How It Impacts Shopping for

One other issue within the dialogue about new vs used Teslas is availability: when are you able to get a brand new or used Tesla? This a part of the dialogue is especially essential in case you are in want of a automobile proper now or must promote your present automotive at about the identical time to be able to buy a Tesla.

We’ll begin by wanting on the present lead instances for brand spanking new Teslas:

Mannequin S

Manufacturing time for the bottom Mannequin S is 1-4 months, with a shorter 1-2 month estimate for the Mannequin S Plaid. This isn’t as loopy a timeframe as in earlier years, however it’s nonetheless a variable quantity given present international shortages within the manufacturing business.

Mannequin X

The present manufacturing prediction for the bottom Mannequin X with 5 seats is as late as July-October of 2023, a whopping 9-12 month lead time from the time this text was written. The six and seven-seater variations of the Mannequin X are literally set for manufacturing a bit sooner, and Tesla expects them to be prepared in March-June of 2023 (5-8 months from the time of writing).

Nevertheless, in case you are wanting on the Plaid as a substitute of the bottom Mannequin X, you’re in luck. The present wait on the Mannequin X Plaid is simply 1-2 months.

Mannequin 3

The Mannequin 3 is at present out there within the subsequent 1-3 months for the RWD model, or 1-2 months for the Mannequin 3 Efficiency. The Mannequin 3 Lengthy Vary isn’t out there within the configurator, however Tesla does have a really restricted provide of 2023 Mannequin 3 Lengthy Vary EVs scheduled for manufacturing earlier than the tip of the 12 months (hopefully out there in November-December of 2022).

This can be a current change and a welcome one. Quicker manufacturing time means patrons can have extra confidence that their automotive will likely be out there after they want it. Nevertheless, fast Mannequin 3 manufacturing instances have a secondary impact: since they’re in decrease demand, used Mannequin 3 are dropping in value. It’s a good time to be in search of a Mannequin 3, new or used!

Mannequin Y

The Mannequin Y Efficiency at present has a brief supply estimate; you could possibly get one inside 1-2 months. The Mannequin Y Lengthy Vary gained’t be out there for supply till December of 2022, and should take so long as the tip of subsequent quarter for supply (placing present supply time for the Mannequin Y Lengthy Vary at 3-7 months).

When Will the Tesla Cybertruck Be Obtainable?

Tesla’s long-awaited EV pickup, the Cybertruck, is at present set for manufacturing in the midst of 2023. Clearly, you gained’t be capable to discover a used Tesla Cybertruck till after they begin supply.

How Lengthy Does It Take to Get a Used Tesla?

Whereas a brand new Tesla is likely to be out there within the timeframe that Tesla quotes on their web site, this timeframe may also change unexpectedly. A delay in manufacturing can go away you with out a Tesla at a vital second. Simply ask YouTube’s Ryan Shaw, who ordered a brand new Tesla and located himself borrowing his companion’s automotive when Tesla modified the estimated supply date (Ryan additionally has some good perception on why shopping for a used 2018 Mannequin 3 to face within the hole was an ideal resolution).

Whenever you purchase a used Tesla, you’re clearly shopping for one thing that already exists and gained’t get caught in a manufacturing backlog. Some used Teslas might be obtained in beneath two weeks (generally down to some days) even with all of the paperwork, particularly if the vendor has executed their homework and is able to signal over the title instantly.

Inquisitive about seeing out what’s out there on the used Tesla market proper now? Take a look at our used Tesla listings to get began! However in the event you aren’t fairly satisfied, let’s maintain the ball rolling with one other think about our new vs used dialogue: EV tax credit.

Shopping for Used vs. New—Which EV Tax Credit Can Teslas Get?

Excellent news for brand spanking new Tesla patrons in 2023: the EV tax credit score incentive is again, at the least for some fashions. The Mannequin Y Lengthy Vary, Mannequin Y Efficiency, and the Mannequin 3 Normal Vary ought to all be eligible for a credit score of as much as $7,500 subsequent 12 months. This could make shopping for a brand new Tesla extra interesting, however we’d additionally prefer to level out that costs for brand spanking new Teslas aren’t prone to drop in response.

The Mannequin S, Mannequin X, and the Mannequin 3 Efficiency are usually not at present eligible for subsequent 12 months’s EV Credit score. The Mannequin 3 Lengthy Vary (if Tesla goes to provide any subsequent 12 months) could qualify, however that’s not a certainty.

Are you able to get a tax credit score whenever you purchase a used Tesla? At present, there is no such thing as a used EV credit score for federal taxes, however there are some areas and States that supply a credit score for used EV purchases. There may be set to alter on January 1, 2023 when the brand new EV credit score rule goes into have an effect on. There will likely be a used EV tax credit score of as much as $4,000 out there, however the pricing restrict for that is $25,000, which all however guidelines out any used Teslas.

EAP/FSD Worth for Buying Used Teslas

This can be a sophisticated topic, however it’s a serious one for tech-minded patrons who’re evaluating new vs used Teslas. Including Full Self-Driving (FSD) to the acquisition of a brand new Tesla at present prices $15,000 (Enhanced Autopilot, or EAP, has fewer options and is at present out there for $6,000). In response to Elon, this quantity is simply going to maintain rising over time.

Previously, Teslas with FSD functionality may buy it for a lot much less, beginning at $3,000 and going up from there. If you’re actually concerned with getting a Tesla with FSD for a deep low cost, a used Tesla with FSD included is a good way to get there and will presumably prevent 1000’s. The tradeoff is that the most effective offers will even seemingly be among the oldest fashions (that also have the {hardware} for FSD).

See our earlier weblog put up for an in-depth dialogue on how a lot FSD is price on a used Tesla.

Supercharging—How A lot Does It Price?

Vitality prices and power utilization are scorching matters proper now, and shopping for a brand new Tesla consists of shopping for into the concept electrical energy will likely be cheaper (and cleaner) in the long term. That is even a loud promoting level for Tesla, they usually embrace “potential financial savings” over 6 years of gasoline proper of their new automotive configurator.

Nevertheless, there’s no such factor as a free cost. Whenever you purchase a brand new Tesla, you’re dedicated to charging at dwelling or heading to the native Supercharger the place you continue to should pay the invoice. Present common power costs are averaging round $0.15-$0.16 per kWh, and it prices between $5 and $20 a day to cost a Tesla at dwelling (this varies fairly broadly relying on how a lot you drain the battery every day, and the place you reside), and about $15-$20 to get a full cost from 20% on the supercharger (on common, as Tesla’s differing battery pack sizes complicate the numbers).

Why does this matter on new versus used Teslas? As a result of there’s such a factor as Free Limitless Supercharging! This perk of used Teslas usually solely applies to Mannequin S and Mannequin X ordered by 1/15/2017 and delivered earlier than 4/15/2017, and even on this group there might be exceptions. For extra info, see our put up on transferable Free Supercharging for used Teslas.

How a lot cash can Free Limitless Supercharging truly prevent? Even in the event you solely used the Supercharger on a couple of street journeys, this perk may probably prevent lots of of {dollars} per 12 months, presumably 1000’s if it’s your each day mode of charging, although fixed Supercharging will seemingly have an effect on your Tesla’s battery.

Talking of batteries, we’ll take the subsequent part to speak about one of many loudest arguments in opposition to shopping for a used Tesla: whether or not or not the battery on a used Tesla will final.

Battery Life on New vs Used Teslas

The query of how lengthy a Tesla battery lasts is the massive one for many individuals taking a look at used Teslas. It’s a good query, since a full battery alternative could be the most important restore expense a Tesla may have.

We cowl this subject in depth in our put up on how lengthy a Tesla battery lasts, however right here’s the quick model:

  • Mannequin S and Mannequin S information suggests that almost all of autos can attain 500,000 miles earlier than battery degradation reaches 20% (a threshold for handy usability)
  • Mannequin 3 and Mannequin Y information recommend a 20% threshold at nearer to 400,000 miles
  • The sooner Mannequin S battery packs (2012-2015) have variations which will have an effect on their reliability, however that’s not common in these autos
  • You must all the time ask a couple of questions on charging habits, driving/storage local weather, and present battery retention when taking a look at a used Tesla.

In abstract, the battery lifetime of a used Tesla doesn’t are inclined to quickly degrade over time. Even among the earlier fashions nonetheless have over 80% battery life. So, in case your primary query is “are used Teslas dependable,” we expect the info speaks for itself. Whereas the media does decide up an occasional horror story about changing the battery, these situations are surprisingly uncommon given the variety of Teslas out on the street.

We strongly recommend you retain the battery situation in your execs and cons checklist when you’re looking to buy a used Tesla (it’s simply frequent sense). Nevertheless, the concept it is best to solely purchase a brand new Tesla due to potential battery degradation isn’t supported by the info we’ve seen on used Teslas to date.

New and Used Tesla Guarantee Points

Final however sure not least, is it price shopping for a used Tesla out of guarantee? Most out of guarantee Teslas are going to be the Mannequin S and Mannequin X. The sooner years of the Mannequin S and Mannequin X have outlasted their guarantee phrases.

Why is that this essential for our new vs used Tesla dialogue? Merely put, if a component fails, it’s all the time good to know that will probably be lined by the producer. Significantly with regards to used Teslas from the sooner years when Tesla was simply beginning out, guarantee points can and have cropped up once in a while.

The largest space of concern for most individuals is the Battery and Drive Unit Guarantee, which covers a Tesla’s battery and motor parts for 8 years or from 100,000 to 150,000 miles usually. Simply as essential is the 70% battery capability retention clause, though from the info we mentioned earlier on this article, this quantity gained’t be reached inside regular operation.

Newer mannequin years of used Teslas will usually nonetheless have guarantee time left, and that isn’t one thing it is best to ignore when contemplating the worth. Guarantee is a sophisticated topic, so be sure you try our Final Information to Tesla Guarantee Protection for extra info warranties that apply to new or used Teslas.

It’s very a lot as much as patrons to find out how a lot these guarantee are price to them. Nevertheless, we might be remiss if we didn’t point out that guarantee protection ought to be a closely thought of issue when you’re contemplating shopping for a used Tesla over a brand new one.

The place Can You Purchase a Used Tesla?

Since we’ve been chatting about it this lengthy, by this time you in all probability know that, sure, you positively can purchase a used Tesla. And in our opinion, the reply is—sure, you can purchase a used Tesla.

We talked about originally that we expect shopping for a used Tesla is price it, and we imagine that so strongly that we began a used Tesla web site (yep, it’s this one).

Because you’re right here, you’re already in the proper place in the event you’re in search of the most effective offers (and the most effective expertise) in shopping for a used Tesla. We’ve obtained all the pieces from the earliest Mannequin S to the newest Mannequin 3 in our listings part, and used Tesla listings are being added day by day.

You’ll want to evaluate present costs with bought listings, and don’t hesitate to seek for Free Limitless Supercharging or filter for FSD! Our system is designed that will help you simply filter for and choose the choices that you simply contemplate an important components in your used Tesla search.

Discover My Electrical is the #1 used Tesla and EV web site, so try our used Tesla listings and see what’s out there close to you proper now!



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