Tesla - what has happened to the prices!
Discussion
I was just on Autotrader looking at other cars when thought to wonder what a used Tesla would cost these days.
I surprised to see that he has been nothing used available post 2020 and prices have gotten really really low?
A model x was a near 100k car new and you can get them at 30k now!
I surprised to see that he has been nothing used available post 2020 and prices have gotten really really low?
A model x was a near 100k car new and you can get them at 30k now!
Ffffaster said:
I was just on Autotrader looking at other cars when thought to wonder what a used Tesla would cost these days.
I surprised to see that he has been nothing used available post 2020 and prices have gotten really really low?
A model x was a near 100k car new and you can get them at 30k now!
What year and what mileage?I surprised to see that he has been nothing used available post 2020 and prices have gotten really really low?
A model x was a near 100k car new and you can get them at 30k now!
Who’d have thought that cars depreciate
“The average car depreciation will hit hardest in the first year of ownership. Generally, the drop will be around 15-35% in the first 12 months. And that will continue to rise up to 50% or more over three years.
Year 1: 15-35% depreciation. 65-85% of the original value.
Year 3: 40-60% depreciation. 40-65% of the original value.
Year 5: 60-70% depreciation. 30-40% of the original value.
Year 8-10: 80% depreciation. 20% of the original value.”
In the UK at least the depreciation has been steady and steep, this is the chart for the last 2 years of Model Y Long range cars, they've fallen by the best part of 30k in 2 years, and whats notable is that the depreciation is fairly straight so the old addage of you lose decreasing amounts as time goes by isn't really happening at the moment..
And as that model has only been out 2 years or so, all the early lease and company cars that were delivered are still to be hit the volume side so what might guess that the prices will continue to fall.
The Model 3 is similar, as are the other models such as RWD and Performance cars. A 2022 M3P has lost the best part of 35k in 2 years and it's hard to know where the bottom of the market is with the new model out and in say 2 more years the general warranty ending. A look at 2020 M3Ps for instance are about 10k below the 2022 cars so maybe, and the 2019 cars another 3k below that, but once you get to 5 years old you tend to trade depreciation with maintenance costs.
And as that model has only been out 2 years or so, all the early lease and company cars that were delivered are still to be hit the volume side so what might guess that the prices will continue to fall.
The Model 3 is similar, as are the other models such as RWD and Performance cars. A 2022 M3P has lost the best part of 35k in 2 years and it's hard to know where the bottom of the market is with the new model out and in say 2 more years the general warranty ending. A look at 2020 M3Ps for instance are about 10k below the 2022 cars so maybe, and the 2019 cars another 3k below that, but once you get to 5 years old you tend to trade depreciation with maintenance costs.
Ffffaster said:
I was just on Autotrader looking at other cars when thought to wonder what a used Tesla would cost these days.
I surprised to see that he has been nothing used available post 2020 and prices have gotten really really low?
A model x was a near 100k car new and you can get them at 30k now!
The X sounds like a potential nightmare as a 3rd/4th owner at 8+ years old so I'm not surprised they're getting cheaper. I surprised to see that he has been nothing used available post 2020 and prices have gotten really really low?
A model x was a near 100k car new and you can get them at 30k now!
The 3 is very popular, you see them everywhere, sheer numbers will be putting pressure on their prices.
Model S prices still seem pretty strong although decent examples are finally under 20k.
Gone fishing said:
In the UK at least the depreciation has been steady and steep, this is the chart for the last 2 years of Model Y Long range cars, they've fallen by the best part of 30k in 2 years, and whats notable is that the depreciation is fairly straight so the old addage of you lose decreasing amounts as time goes by isn't really happening at the moment..
And as that model has only been out 2 years or so, all the early lease and company cars that were delivered are still to be hit the volume side so what might guess that the prices will continue to fall.
The Model 3 is similar, as are the other models such as RWD and Performance cars. A 2022 M3P has lost the best part of 35k in 2 years and it's hard to know where the bottom of the market is with the new model out and in say 2 more years the general warranty ending. A look at 2020 M3Ps for instance are about 10k below the 2022 cars so maybe, and the 2019 cars another 3k below that, but once you get to 5 years old you tend to trade depreciation with maintenance costs.
Tesla registered 35k Model Ys in 2022, I'd guess the majority on a 3 year deal (PCH / BCH / PCP) so there should be plenty coming to market in 2025.And as that model has only been out 2 years or so, all the early lease and company cars that were delivered are still to be hit the volume side so what might guess that the prices will continue to fall.
The Model 3 is similar, as are the other models such as RWD and Performance cars. A 2022 M3P has lost the best part of 35k in 2 years and it's hard to know where the bottom of the market is with the new model out and in say 2 more years the general warranty ending. A look at 2020 M3Ps for instance are about 10k below the 2022 cars so maybe, and the 2019 cars another 3k below that, but once you get to 5 years old you tend to trade depreciation with maintenance costs.
Some early '22 plates are appearing on AT for around £30k with sensible mileage but they don't appear to be selling quickly. I think we'll see some real price depression when some of the '22 plates start hitting the used market in decent quantities across Q1 '25.
CAP on a '22 MYLR @ 35k mileage is still just over £30k, but how sustainable this is I'm not sure..
It was a bubble that would always burst. Sadly some took a huge hit expecting somehow Teslas would retain their value for ver.
Does now mean an out of warranty Model 3 can be picked up at auction for low teens which is incredible value for money.
The Model S is a very large expensive car and the always tank no matter what propulsion system they have. Great cars though
Does now mean an out of warranty Model 3 can be picked up at auction for low teens which is incredible value for money.
The Model S is a very large expensive car and the always tank no matter what propulsion system they have. Great cars though
I am in the market for a 3yr old model three long range dual motor with a heat pump and premium audio, like this one. Just relisted at a lower price on AT today we see that its lost 15% in advertised price since the start of 2024. Chunky.
I am a bit hesitant on depreciation but I calculate it will save me £2000 a year over my diesel BMW 840d. I am optimistic that at these current used prices the depreciation curve is going to flatten out. At the end of the day when I have put another 45,000 miles on it in three years time it's STILL going to be a 710lb/ft car that does 0-60 in 4.3 seconds and likely with a battery holding out at >90% original capacity. Sure no warranty but show me anything at £13,000 that has that performance, tech, charging network and running costs? Plus by then our new government will have made life even more hellish for ICE cars and manufacturers will have started rationing them because of tax targets so even more reluctant EV owners will be in the market looking for cheaper EV's.
Given you can watch Rory Reed driving a 420,000 mile Model S and it not being s
t on the AT YouTube channel this week I am quite relaxed about the warranty/battery issue. Far more so than for something like a Taycan where its ancillary stuff like cabin heater failure that have caused most of the woes. The electric motors in post 2018 Teslas seem more bombproof than the BMW diesel+ZF transmission in the BMWs I have owned and suffered failures with.
I have access to a company lease scheme and as a higher rate taxpayers its only £8000 a year (2 year 15,000 mile deal) to lease a new Highlander 3 but in all honesty I think spending £21,000 I already have on a used 3 yr old one is cheaper.
I can't be alone. Tesla 3's are reaching a price point where they make a lot of sense to a lot of people. I won't loive it but I have other cars to love.
I am a bit hesitant on depreciation but I calculate it will save me £2000 a year over my diesel BMW 840d. I am optimistic that at these current used prices the depreciation curve is going to flatten out. At the end of the day when I have put another 45,000 miles on it in three years time it's STILL going to be a 710lb/ft car that does 0-60 in 4.3 seconds and likely with a battery holding out at >90% original capacity. Sure no warranty but show me anything at £13,000 that has that performance, tech, charging network and running costs? Plus by then our new government will have made life even more hellish for ICE cars and manufacturers will have started rationing them because of tax targets so even more reluctant EV owners will be in the market looking for cheaper EV's.
Given you can watch Rory Reed driving a 420,000 mile Model S and it not being s
t on the AT YouTube channel this week I am quite relaxed about the warranty/battery issue. Far more so than for something like a Taycan where its ancillary stuff like cabin heater failure that have caused most of the woes. The electric motors in post 2018 Teslas seem more bombproof than the BMW diesel+ZF transmission in the BMWs I have owned and suffered failures with.I have access to a company lease scheme and as a higher rate taxpayers its only £8000 a year (2 year 15,000 mile deal) to lease a new Highlander 3 but in all honesty I think spending £21,000 I already have on a used 3 yr old one is cheaper.
I can't be alone. Tesla 3's are reaching a price point where they make a lot of sense to a lot of people. I won't loive it but I have other cars to love.
Honeywell said:
I am in the market for a 3yr old model three long range dual motor with a heat pump and premium audio, like this one. Just relisted at a lower price on AT today we see that its lost 15% in advertised price since the start of 2024. Chunky.
I am a bit hesitant on depreciation but I calculate it will save me £2000 a year over my diesel BMW 840d. I am optimistic that at these current used prices the depreciation curve is going to flatten out. At the end of the day when I have put another 45,000 miles on it in three years time it's STILL going to be a 710lb/ft car that does 0-60 in 4.3 seconds and likely with a battery holding out at >90% original capacity. Sure no warranty but show me anything at £13,000 that has that performance, tech, charging network and running costs? Plus by then our new government will have made life even more hellish for ICE cars and manufacturers will have started rationing them because of tax targets so even more reluctant EV owners will be in the market looking for cheaper EV's.
Given you can watch Rory Reed driving a 420,000 mile Model S and it not being st on the AT YouTube channel this week I am quite relaxed about the warranty/battery issue. Far more so than for something like a Taycan where its ancillary stuff like cabin heater failure that have caused most of the woes. The electric motors in post 2018 Teslas seem more bombproof than the BMW diesel+ZF transmission in the BMWs I have owned and suffered failures with.
I have access to a company lease scheme and as a higher rate taxpayers its only £8000 a year (2 year 15,000 mile deal) to lease a new Highlander 3 but in all honesty I think spending £21,000 I already have on a used 3 yr old one is cheaper.
I can't be alone. Tesla 3's are reaching a price point where they make a lot of sense to a lot of people. I won't loive it but I have other cars to love.
Agreed. There's certainly no shortage of 21 plate Model 3s on the used market now. It's a buyers market..I am a bit hesitant on depreciation but I calculate it will save me £2000 a year over my diesel BMW 840d. I am optimistic that at these current used prices the depreciation curve is going to flatten out. At the end of the day when I have put another 45,000 miles on it in three years time it's STILL going to be a 710lb/ft car that does 0-60 in 4.3 seconds and likely with a battery holding out at >90% original capacity. Sure no warranty but show me anything at £13,000 that has that performance, tech, charging network and running costs? Plus by then our new government will have made life even more hellish for ICE cars and manufacturers will have started rationing them because of tax targets so even more reluctant EV owners will be in the market looking for cheaper EV's.
Given you can watch Rory Reed driving a 420,000 mile Model S and it not being s
t on the AT YouTube channel this week I am quite relaxed about the warranty/battery issue. Far more so than for something like a Taycan where its ancillary stuff like cabin heater failure that have caused most of the woes. The electric motors in post 2018 Teslas seem more bombproof than the BMW diesel+ZF transmission in the BMWs I have owned and suffered failures with.I have access to a company lease scheme and as a higher rate taxpayers its only £8000 a year (2 year 15,000 mile deal) to lease a new Highlander 3 but in all honesty I think spending £21,000 I already have on a used 3 yr old one is cheaper.
I can't be alone. Tesla 3's are reaching a price point where they make a lot of sense to a lot of people. I won't loive it but I have other cars to love.
Another 20 listed today on AT according to my alert.
I am going to put off for another month and closely follow the market but it's certainly in oversupply at present. The AT price tracker plug in is fantastic.
I think the game changer will be when the general public cease worrying about catastrophic battery failure/degradation which the data already proves is really really not happening. Show me the pile of scrapped Teslas...
I am going to put off for another month and closely follow the market but it's certainly in oversupply at present. The AT price tracker plug in is fantastic.
I think the game changer will be when the general public cease worrying about catastrophic battery failure/degradation which the data already proves is really really not happening. Show me the pile of scrapped Teslas...
Honeywell said:
Far more so than for something like a Taycan where its ancillary stuff like cabin heater failure that have caused most of the woes. other
Sounds like you’ve convinced yourself, but FYI, the heater matrix on the Model S and Model X are common failure points and around £1000 a time to fix. You should also check out the Tesla-info price, includes AT, Pistonheads and Tesla themselves and does a lot more than just the AT plugin
Edited by Gone fishing on Tuesday 9th July 16:27
It's more volatile than steep for my wbac valuations for a 69 plate 48k model 3, which have been
2021 - 43k
2022 - 47k. !!!
2023 - 36k
2024 - 18k
I've just digged out my original purchase vs lease spreadsheet from 2019, which gives this for September values.
2020 - 2021 - 2022 - 2023 - 2024
39832 33060 27440 22775 18903
So only 1k less than the prediction. Hopefully it will follow the normal curve from here!
2021 - 43k
2022 - 47k. !!!
2023 - 36k
2024 - 18k
I've just digged out my original purchase vs lease spreadsheet from 2019, which gives this for September values.
2020 - 2021 - 2022 - 2023 - 2024
39832 33060 27440 22775 18903
So only 1k less than the prediction. Hopefully it will follow the normal curve from here!
Edited by lizardbrain on Wednesday 10th July 17:36
Honeywell said:
The market is efficient.
I am happy to keep a M3 LR 2021 and take it to 200,000 miles. I think the warranty fear and degradation fears are way overstated.
I am with you - I have got a 2020 70-plate Long Range, just ticked over 50,000 miles. I think I would only replace it with a Taycan at the moment but too much too change and I am happy.I am happy to keep a M3 LR 2021 and take it to 200,000 miles. I think the warranty fear and degradation fears are way overstated.
These are a great second hand buy now I think.
I've just taken delivery of a new 24 plate Model Y through my work Salary Sacrifice scheme. I have it for 3 years until June 2027. I love the car and it's a nice change from the my previous ICE cars from BMW, Audi and Volvo.
It will be really interesting to see what the used prices are like for this spec come June 2027. With the price of used cars starting to drop now after the Covid price spike, Tesla depreciations, the new Juniper Model Y facelift due in 2025, and the lower price of new Model Y's in general, I'm hoping I can pick up a bargain at the end of my SS period.
No one here has a crystal ball, but what do we think the price of a 3 year old RWD MY with ~30k miles on the clock could be? I'm thinking £18k - £20k could be realistic.
It will be really interesting to see what the used prices are like for this spec come June 2027. With the price of used cars starting to drop now after the Covid price spike, Tesla depreciations, the new Juniper Model Y facelift due in 2025, and the lower price of new Model Y's in general, I'm hoping I can pick up a bargain at the end of my SS period.
No one here has a crystal ball, but what do we think the price of a 3 year old RWD MY with ~30k miles on the clock could be? I'm thinking £18k - £20k could be realistic.
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