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HomeTeslaWhat’s My Tesla Value? A Information for Sellers Submit Value Drop

What’s My Tesla Value? A Information for Sellers Submit Value Drop


The EV world was not too long ago greatly surprised by Tesla’s historic value drop throughout their complete lineup…

And with value reductions as a lot as 20%, many individuals who purchased a Tesla (new or used) in 2022 are left severely pissed off and questioning what to do subsequent.

Anybody who’s been chatting with us at Discover My Electrical is aware of one factor—we noticed this coming and have been telling prospects to concentrate. However for individuals who haven’t been speaking with us, this transfer could have come as a giant shock.

We’ve been getting loads of questions these days, like:

  • What’s my Tesla value now after the value drop?
  • How a lot have used Tesla values been impacted by the value minimize?
  • How can I promote my Tesla for essentially the most sum of money now?
  • Ought to I promote my Tesla now or later?
  • Do you suppose new/used Tesla costs will transfer up in time?

Because the #1 EV market on the net, we’re right here to assist! Nobody is aware of the used EV panorama higher than we do, so we wished to take the time to create a information to reply these questions (and extra). With out additional ado, let’s leap in!

How A lot Did Tesla Costs Really Drop?

Right here’s a fast desk we put collectively summarizing the small print of the latest Tesla value drop:

Tesla Mannequin

Outdated Value

New Value

Distinction ({Dollars})

% Change

Mannequin 3 Customary Vary $46,990 $43,990 ($3,000) -6%
Mannequin 3 Lengthy Vary* $57,990 $49,990 ($8,000) -14%
Mannequin 3 Efficiency $62,990 $53,990 ($9,000) -14%
Mannequin Y Lengthy Vary $65,990 $52,990 ($13,000) -20%
Mannequin Y Efficiency $69,990 $56,990 ($13,000) -19%
Mannequin S Lengthy Vary $104,990 $94,990 ($10,000) -10%
Mannequin S Plaid $135,990 $114,990 ($21,000) -15%
Mannequin X Lengthy Vary $120,990 $109,990 ($11,000) -9%
Mannequin X Plaid $138,990 $119,990 ($19,000) -14%

*Notice that Mannequin 3 Lengthy Vary isn’t at present out there as a customized order, and the one method to discover them is by looking Tesla’s stock web page and making an attempt varied zip codes to search out one in inventory someplace, usually in a location that’s far-off out of your state. Regardless, we’ve included it on this knowledge as a result of they’re attainable with some effort.

It is a substantial value minimize, particularly on Mannequin Y (relative to its earlier value)…

And one other large influence of this value minimize is that it makes all the 3/Y lineup (aside from the Mannequin Y Efficiency) eligible for the $7,500 federal tax minimize, which makes the efficient costs even decrease.

OK, So What Is My Tesla Value Now?

Earlier than we are able to even start to get into particular situations about used Tesla values, we have to set up a baseline for what new Teslas price once you issue within the $7,500 federal tax credit score.

We additionally must issue within the charges that Tesla prices or is required to cost. And, for the sake of simplicity, we’ll use the default configuration (no upgraded wheels, paint, EAP/FSD, and so on.).

With that mentioned, right here’s a desk that breaks down the efficient value of a brand new Tesla after the tax credit score and costs:

Tesla Mannequin

MSRP

Vacation spot Price

Order Price

Tax Credit score

Efficient Value

Mannequin 3 Customary Vary $43,990 $1,390 $250 ($7,500) $38,130
Mannequin 3 Lengthy Vary $49,990 $1,390 $250 ($7,500) $44,130
Mannequin 3 Efficiency $53,990 $1,390 $250 ($7,500) $48,130
Mannequin Y Lengthy Vary $52,990 $1,390 $250 ($7,500) $47,130
Mannequin Y Efficiency $56,990 $1,390 $250 n/a $58,630
Mannequin S Lengthy Vary $94,990 $1,390 $250 n/a $96,630
Mannequin S Plaid $114,990 $1,390 $250 n/a $116,630
Mannequin X Lengthy Vary $109,990 $1,390 $250 n/a $111,630
Mannequin X Plaid $119,990 $1,390 $250 n/a $121,630

As a vendor, it’s worthwhile to pay shut consideration to the “Efficient Value” column, as a result of that is your competitors quantity should you’re promoting a late-model Tesla.

There’s virtually no incentive, with Tesla at pretty minimal manufacturing wait occasions, for most individuals to purchase used Tesla for lower than these quantities (assuming a base configuration, after all). We can’t stress this sufficient!

And though not everybody will qualify for the tax credit score for varied causes, the demographic of Mannequin 3/Y patrons tends to fulfill the earnings necessities greater than that of Mannequin S/X patrons (though this isn’t all the time the case, clearly).

What if I paid for EAP or FSD? What about upgraded wheels/colours/seating configurations?

The worth of EAP/FSD is usually value a fraction of it’s new value within the used market. We wrote a submit about what FSD is value on a used Tesla, so you’ll want to learn that in full if that applies to you.

By way of wheels/tires/paint, Tesla isn’t discounting these, so you may simply contemplate these an add-on to the efficient value.

Used Tesla Values—4 Examples

We’ve seen a wild experience in used Tesla values over the previous 12 months, and for instance that development, we’re going to take a look at the Mannequin Y Lengthy Vary at 4 totally different closing dates.

Might 2022

This was what could have been the peak of Tesla flipping…

At this level, the Mannequin Y Lengthy Vary had an MSRP (earlier than choices and costs) of $65,990.

It was not unusual to see sellers ask (and get) $5,000 over MSRP, pushing the value north of $70,000 for what was technically a used Mannequin Y (albeit in some circumstances with just a few hundred miles).

November 2022

In November of 2022, a wide range of components got here collectively (which we outlined in our Why EV Costs Are Dropping weblog submit) which noticed values plummet (or normalize, relying on who you ask).

With the tax credit score regulation passing in August (and lots of patrons ready until January), rates of interest excessive, Tesla manufacturing catching up, and the market saturated with 3/Y—it was frequent to see practically new Mannequin Y Lengthy Vary autos promoting for barely beneath MSRP, typically within the $57,000 – $61,000-ish vary (give or take a couple of thousand {dollars}).

December 2022

December 2022 introduced a large paradigm shift, with Tesla first dropping the value of autos delivered in December by $3,750, after which by $7,500.

They knew demand was waning as individuals had been ready for the tax credit score, they usually created that December-only incentive to bolster demand as a lot as potential.

It wasn’t unusual to see practically new Mannequin Y Lengthy Vary autos promoting for $10,000 underneath MSRP.

January 2023

On 1/12/23, Tesla made a large discount in costs. The tax credit score additionally went into impact in 2023, and we are actually seeing Mannequin Y Lengthy Vary promoting for a couple of thousand {dollars} underneath the present MSRP (which is dramatically lowered from the earlier MSRP).

How A lot Ought to I Ask For My Used Tesla?

So, that is the large query, and the reply is—it will depend on what you’re promoting, and loads of different components.

Listed here are some details to think about:

  1. For those who’re promoting a late mannequin Tesla (2021-2023), you want to be aggressive with Tesla on value (which we broke down above), or you’ll largely be ignored by patrons
  2. Even should you’re promoting an older Tesla (2016 Mannequin S, for instance), it’s a must to notice that somebody can get a brand new Tesla for the same value level with a full guarantee—so once more, it’s worthwhile to be aggressive with Tesla
  3. EAP and FSD are value a fraction of what Tesla prices within the used market (learn extra about that right here)
  4. For those who don’t have a good market asking value, EV patrons are a lot much less more likely to negotiate and can could skip your advert solely

With these factors in thoughts, Discover My Electrical has a built-in pricing analysis device, the place you may see the asking costs of different comparable autos.

Simply go to our Listings Web page and test the field that claims “Embrace Offered Listings” to start your analysis.

Be mindful although, that archived asking costs from spring 2022 round going to be considerably larger than they need to be now, so not too long ago bought listings and their asking costs might be extra correct.

Don’t Guess on Your Asking Value—Let Us Assist!

The most effective issues about Discover My Electrical is that we’re absolute consultants within the EV subject, and love serving to prospects dial in aggressive asking costs on their autos.

We always have our finger on the heart beat of the EV market (which adjustments every day), so there’s no higher method to know the way a lot to promote your Tesla for than to test with us!

Listed here are the 2 most typical methods we may help:

1) Featured Itemizing

We provide two methods to listing your Tesla on the market on our platform: Free and Featured.

Free is completely free, however doesn’t include our Professional Pricing Assist. We’re completely satisfied to listing your automotive, however you’re on self-service by way of pricing assist or recommendations/ideas past that. Free listings additionally get lots much less publicity on our platform and solely enable 3 pictures—however they’re completely free!

For those who’re critical about promoting your Tesla, and wish entry to our group of consultants—do a Featured itemizing!

It’s a $49 one-time charge, and also you get all types of perks like textual content/cellphone assist, entry to our group of EV consultants for pricing assist, a free car historical past report + many different issues.

Many shoppers inform us that the pricing assist alone was value the price of the itemizing!

2) EV Money Supply

For those who’re seeking to promote FAST and nonetheless get a good value to your Tesla (particularly on this loopy world of low costs), you would possibly wish to contemplate requesting an EV Money Supply!

We constructed a community of EV sellers throughout the nation who compete towards one another to offer you a wonderful money supply in your used Tesla!

And the perfect half? It’s 100% free to request a money supply in your used Tesla, and there’s no obligation to just accept!

And for individuals who are questioning—you may completely listing on the market on our market AND request a money supply on the identical time! Or, you are able to do one or the opposite—it’s completely as much as you!

Get The Highest Value for Your Used Tesla

Don’t be left at midnight on pricing or fumbling round on generic labeled advert websites the place your high-tech Tesla is misplaced amongst advertisements for gasoline guzzlers!

And particularly on this loopy time of low costs and large value drops, you don’t wish to be confused or left to determine issues out by yourself!

As a substitute, promote on Discover My Electrical—The Final EV Market!



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