A new car depreciates or loses value almost immediately after you drive it off a dealer’s lot. … In fact, data indicate that the Tesla Model 3 can retain its resale value over 5 times better than all other electric cars and about 4 times better than all cars in general.
How well do Teslas retain their value?
Teslas generally do retain value extremely well when compared to others in the EV market. If you compare a Tesla to a traditional vehicle, the results will not be the same though. This is because there are more changing factors and industry tax incentives that make EV-used cars less desirable.
Does Tesla Model 3 depreciate?
A Tesla Model 3 will depreciate 44% after 5 years and have a 5 year resale value of $26,372. The chart below shows the expected depreciation for the next 10 years. These results are for vehicles in good condition, averaging 12,000 miles per year. It also assumes a selling price of $47,143 when new.
Do Teslas depreciate in value?
While depreciation rates for electric cars can vary greatly, the Tesla Model 3 is estimated to depreciate 41% in value over the course of five years. Meanwhile, pricing for the 2020 Model 3 starts at $37,990 for a base model.
How many years will a Tesla Model 3 last?
10 – 15 years if well maintained. In my experience of reasonably modern cars the rest of the car is shot long before the engine is done. So all these claims for battery life or motor life are irrelevant. Battery pack will last 15–20 years (over 500,000 miles).
How many miles will Tesla 3 last?
Model 3 and Model Y Teslas are covered up to 120,000 miles (or eight years), while the Model S and Model X are covered up to 150,000 miles (or eight years). However, the battery will likely do fine beyond either eight years or 150,000 miles.
How much is a 3 year old Tesla Model 3 worth?
How much is a 2019 Tesla Model 3 worth? The value of a used 2019 Tesla Model 3 ranges from $33,426 to $58,608, based on vehicle condition, mileage, and options.
Do Tesla’s depreciate quickly?
A Tesla Model S will depreciate 50% after 5 years and have a 5 year resale value of $47,734. The Tesla Model S does remarkably well for an alternative fuel vehicle, as most electrics and plug-in hybrids do terribly when it comes to maintaining their value.
How long will a Tesla last?
According to Elon Musk on Twitter, Tesla car batteries are supposed to technically last for 300,000 to 500,000 miles, which is 1,500 battery cycles. That’s between 22 and 37 years for the average car driver, who, according to the Department of Transportation, drives about 13,500 miles per year.