The depreciation on my 2022 Model Y is genuinely insane - anyone else getting absolutely wrecked on resale value right now?

At this point you might just be better driving the car until the wheels fall off. Yes, you already ate the depreciation. At this point, if your car is in good shape and you don't absolutely hate your car, you should just keep driving it for 3-5 more years.

I'm here waiting on the used car market to plummet after the tax credit have gone away and as demand goes down. I'll probably be waiting a while, but I'm glad I didn't pay that much.

What were you expecting? They can barely move the things new, even at these ridiculous prices, why would used fare any better? The company has done its level best to absolutely tank its actual value as a car brand. Best they can do is stock pumping and vaporware.

Your last line sums it all up…they aren’t valued like cars. Instead pieces of tech. I sold my 2020 Model 3 last year and took a bath on it. But I also knew that a 2020 computer would never ever support FSD (when it’s finally finished) so I knew the depreciation would continue quickly. Unfortunately I don’t think this is unique to Tesla but instead most EV (since they are so software based).

\>This whole situation has me seriously rethinking the "Tesla as an investment" narrative. hahahahahahahahahahah been living under a rock?

You fell for the hype. That's all. Tesla is 90% hype. It's also a company that outright lies about pretty much everything, so frankly I don't know what the attraction is. There's really no good solution for you here money-wise. You paid too much for something that got cheaper, there's no way to "fix" that retroactively. Musk said Teslas were going to appreciate in price and be worth ***more*** as they aged, something that's never happened in the history of consumer products, and some people believed him. Of course, he said he was going to land on Mars in 2022, so there's that.

Just drive it until the wheels fall off to make depreciation a nonissue. The only mass produced cars that depreciate the least are Toyota and maybe Honda.

TIL that keeping a car for 6 years is “riding it into the ground”

If you're competing against New cars, that's not depreciation, that's dumping prices. (That, or getting fleeced at the original buying price) Anyway , I hate 2022 in more ways than one.

My colleague in Europe could not give his Tesla away a few months ago. No dealerships would take it as a trade in. I forgot the exact number, but he sold it for cheap.

Maybe he's that much into the kool aid..or blue pilled

Play stupid games, win stupid prizes....

clearly. Also considering a trade in...so... besides stupid, Nazi supporter.

MacBook Pros also used to maintain their value for a really long time, but then the M series dropped. Now, every year a new M chip drops, easily erasing 25 percent off the used market for the previous generation. The Model Y has been updated twice significantly since 2022, and as yourself already mentioned, you bought at the peak of the peak Tesla sticker prices. And now with the subsidies pulled and this sham of an administration of the Orangeutang doing everything they can to discourage electric driving, the sentiment has temporarily shifted. This will bounce back, as petrol is going the way of the dodo for sure, Why sell it? Why can't you take it, they don't have cars where you are relocating to? Also, this has been discussed ad nauseam, imho it does NOT say anything about EV residual pricing over the next few generations of cars. Don't expect to buy a 2025 Tesla in 3 years for 10K.

Probably better to just drive the thing into the ground at this point, but if you really just want to get out of a Tesla, I just bought a 2023 CPO Mercedes EQE 350 SUV 4Matic for $34k with \~48k miles. It's not a base model either. Coming from a 2019 Model 3, it's like a spaceship in comparison. My Model 3 had 240 miles of EPA range, and 180 miles actual, and my Mercedes has 254 miles of EPA range, and 405 actual. The range is wildly understated on the Mercedes. 4 wheel drive, rear wheel steering, CPO warranty, actually nice luxury interior, lots of tech, Carplay, just quality everything, I mean it's hard to beat. A Model Y looks like a Yugo in comparison. It's like a \~$100k car new, so I can't understand why it's selling at these prices, but yeah, the depreciation puts your Model Y to shame. The working theory is that Mercedes named them really confusingly (EQE is the sedan, EQE SUV is the SUV), 350+/350/500/AMG are all separate models of both, leading to 8 configurations on car search websites versus 1 model for the Model Y. It makes no sense and is awful finding one of these things. Only downside I've found so far is it goes through tires very fast, and they're not cheap at about \~$2000 every \~20k miles. People generally report it's reliable, and of course that warranty covers so much. EDIT: My only real complaint with the car is my house has a relatively low main breaker, and my Mercedes charges at 9kw, and I actually have to black out certain times for charging because if I ran the dryer, water heater, and stove at the same time or something, I could actually trip the breaker. This wasn't an issue because I would just set my Tesla to charge at like 4kw or something, but the Mercedes has no such ability. Also, you strangely can't set it to charge to whatever percentage, it only has 50%/60/70/80/100 as settings, which is just weird. The software works fine, but there's weirdness like this throughout. The Tesla software for remote control/monitoring is definitely way better, but the in car software is a wash (which was really shocking to me) with each having their own pros and cons.

Grateful to be on Year 14 of my non-Tesla vehicle.

Average age of car in my country is 15 years 😅

Average age of car in my country is 15 years 😅

25k deprecation on a new car of this price is actually good. Everyone knew that EVs will fall into a deep deprecation hole, especially Teslas.

That’s pretty normal for new car

More brand EV’s forced Tesla to drop prices. Unfortunately, you can’t expect your car to hold value when we bought brand new 2026 Junipers for a little over $37k with the credit.

I just checked the used inventory section of the Tesla website and discovered that they have removed the ability to filter by model trim. So for example there is no longer a way to search for only "long range" models. Everything is lumped together now with no way to refine your search. That tells me Tesla is desperate to get rid of their used inventory.

"Teslas are different". Looks like you learned an expensive lesson.

Everyone knows how horrendous and expensive Tesla's are to service.  Anything above the battery value is overpaying IMHO

Another 2-3 years? Lol. Riding it into the ground and getting value out of it will take much longer than 2-3 years. The biggest deprecation for any car is the first few years. Need to hold the car minimum for 10 years. Selling beforehand is stupid at this point. This is bag holding at its finest. Well done. Also as a fellow owner, I never once was under the guise that a car would be an investment. Dude. Like how?

you'd be lucky to offload that thing for 15K

You said you can't take it with you, but maybe should keep it for a few years. Are you just on temporary assignment and thinking of storing it? You'll be looking at probably $2k per year for that alone, unless you can do so at say your folks home, but also need to keep charging it somehow. I bought my 3 LR AWD nearly 7 years ago and plan to keep it until it's not feasible to keep on the road. So far just wiper blades and tires have been needed.

It’s a Tesla, so sounds about right.

What are you comparing to because that seems totally normal, if not more than I would have expected

Didn’t musky say that a Tesla is the only appreciating car a few years back?

Lack of Demand. Nobody wants to be associated with these anymore. Teslas will be worth more to you as a driver than something you can resell.

nobody wants to be burnt alive inside that old thing. Since the new ones should have improved a lot for the manual door opening mechanism for emergency, yours should be much cheaper even the battery life is still that good.

Did you really think "EVs hold value better"?!?!?!?!!??? EVs depreciate FAR worse than ICE vehicles, you were completely wrong, wow. I would take that carmax offer and run because looking at used 2022 long range Y's online, I am seeing them under 30k with under 40k miles. Teslas have never depreciated less than other cars also, you did zero research to begin with

No one buys a Tesla to save money

Not just Tesla. I bought an Audi Q4 prior to launch during COVID supply chain issues. It was just before every legacy maker were offering cookie cutter models. Three years later I needed to sell it for ‘reasons’ and it was worth half of what I paid. Teslas price dumping didn’t help me, either.

Where do you live? I bought my 2022 used MyLR for 33k last year with 25k miles and it has 41k miles now. If Tesla will take it back for $35k, I am turning it over tomorrow. Let me know lol

The benchmark price is what a new one costs and work your way down with depreciation from that. $44k new, typical depreciation after 3 years (based on your 2022 to now) and industry usually sees 30-40%, so people aren’t paying more than that for your 2022. The $7500 rebate going away probably doesn’t factor that much into it with the notion that ev resale is worse, too. If you want company, people paid $140k for a model X in 2021 and then in 2022 tesla dropped the price on them by $50k…

There will be stabilization in the market for EVs, but only early next decade when its widely recognized that cheap oil/gasoline is over, permanently. I imagine there are a lot of prospective buyers like myself. I've wanted a EV for a decade, as I understand the environmental argument in my bones. But the current ones on the US market are nearly all oversized for my needs (I want a Fiat 500 sized vehicle), I hate SUVs, and especially since 2022, I've been aware of the [safety record](https://www.roadandtrack.com/news/a62919131/tesla-has-highest-fatal-accident-rate-of-all-auto-brands-study/) and [insurance costs](https://news.dealershipguy.com/p/tesla-insurance-costs-are-climbing-fast-here-s-why-2025-03-20) for Teslas, and despise Musk as a human being. So I'm not in the market for a Y. Probably ever. I'm considering entering the market for a used Prius Prime, but even that's a hard sell given my current 11 year old vehicle is low cost, efficient enough, and has never had a mechanical problem. Maybe at some point in the depths of the coming recession I'll hit my FIRE targets and get the Prius.

Did you forget to subtract $7500 from the depression total? $16k over 3 years is not too bad

Don’t feel too bad. My January 22 MYP has a trade in average of $24k. Purchase price was the same as yours but I’ve also got 89k miles on it.

If they weren't associated with musk they'd still be doing OK. He should sell Tesla, they need a rebrand,big time. Sorry for your loss!

If you can sell it for just $4k less than a new one, I’d take it. They’ve just famously tanked most reliability statistics for used cars, and if yours develops any problems I can imagine it’ll be hell to offload at all. As to riding it into the ground - it’s apparently horribly unreliable as a used car, so do you really want to do that? Or replace it with something used, more reliable in the same value range?

Wait, what??? How you get those high estimates?? I have a 2024 Model Y Long Range in Red and KBB is giving me Private Party Value of $32.2k-$36k. How is your 2-years-older Y having a higher value? Yours definitely didn't depreciate as much as mine.

You bought new at the absolute peak and are trying to sell what is now the previous generation model. Yeah, don't expect a lot for resale value. Hold onto it and see if you can get 150k miles out of the battery as is claimed. I guess I question what your new job is such that you can't bring it with you. Are you working on an oil rig in the ocean?

Meanwhile I'm still driving the same car I've had since 1986 and it's still going strong after almost 900,000 kms (about 560,000 miles).

I don’t appreciate his cars.

Bro, this has been this way for all cars for the last 30 years. I’m shocked your 2022 isn’t 30k. I’m seeing 2025 Model Ys for 38k.

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Pretty normal now for all cars. Be thankful it wasn’t a bmw. Those are tanking like 68% in 5 years All cars are liabilities. Never confuse them as investments. Unless you find one of those mustang barn finds ..

Drive it till the wheels fall off. Loan it to a relative or close family friend…get your value out of it one way or another. Drive for Lyft/uber/food delivery?

I bought my last car from Hertz in 2018, and it runs great! Earlier this year, the guy who sold my car to me called me and offered me a Tesla, as a swap. He whispered into the phone that they'd bought too many, the cars are not being rented, and they want them gone!

EV cars are like iPhones. They are not worth much once the battery starts to degrade and the end of warranty starts to appear on the horizon. Who want a second hand EV that might need an expensive battery replacement?

Keep in mind that Teslas are pretty cheap here to begin with, it's by far the cheapest option in the 3 and Y classes.

Some consumer products do appreciate. See vintage sports cars or Rolex watches. But they only begin appreciating if they have scarcity value and are widely appreciated for engineering excellence (for their time). Early Tesla Roadsters (basically Lotus Elise's with a heavy battery pack) are near the point of being investments in this fashion, but none of the later Tesla models were so scarce or so well made as to be near the bottom of their depreciation curve at present. There's enough of an enthusiast market for [aftermarket battery packs](https://news.dealershipguy.com/p/tesla-insurance-costs-are-climbing-fast-here-s-why-2025-03-20) for the Roadster, but I don't see any of the other Tesla models getting similar levels of enthusiast support. Teslas since the S are have two good thing going for them. Good powertrains and clean sheet designs. But the suspensions, build quality and ability to user-repair has been dog shit. The reliance on quickly moving tech for driver interfaces will make this worse than other vehicles before them. I don't think any will ever be coveted as vintage vehicles. And that's the fate of nearly all cars.

It’s only a depreciation hit when you sell it. Keep driving it longer and depreciation will level off and the yearly hit will look much better. I’m going to drive my 2023 Model Y LR until I get another 5-7 years out of it by which time it will be worth $10k and I can say I got my money’s worth.

If you need to sell it then cut your losses, and eat it. Cars are depreciating assets. Tough lesson learned, avoid sunk cost fallacy.

This is the issue once you have decent competition out there … once BYD and the other started selling the resale will drop as there are other vehicles out there now offering decent range and features and are cheaper new compared to Tesla …

Well, your first mistake was BUYING an EV. These things are rolling smartphones. Are you getting anywhere near your original investment if you try to sell your three year old iPhone? Didn’t think so…Next!

You should just run the car to 120000 miles. Every car depreciates but this was brought on by Elon

Where have you been for the last 12-18+ months?

A car stay in the roads for average 20 years here in Sweden. A six year old car is still called new by most.

Thats why you don't buy new 😂

Two cars owner: one is 30 the other 18 years and still running…

Take the CarMax offer and run away.

How has the switch affected your charging outside of your residence? Tesla supercharger network always has been good - I am not certain about other EV charger locations.

Don’t all ev cars depreciate faster?

Yes, at the time (maybe 6 months ago) it was the cheapest car on the market to lease. Even cheaper than the Clio.

But… but Elon said in 2019: “Buying a car today is an investment into the future. I think the most profound thing is that if you buy a Tesla today, I believe you are buying an appreciating asset – not a depreciating asset.” Source https://electrek.co/2025/03/18/elon-musk-biggest-lie-tesla-vehicles-appreciating-assets/ Did he lie (again)!?

Did you know ahead of time you were going to get rid of it? Could have leased I bought mine with the intention of driving it to the ground. Or at least get 8 to 10 years out of it.

I have a 2023 model Y. There are several for sale for around 27-31K around me. If you getting 35+K for it, i would say its a steal.

March of '22 was almost four years ago, not "less than three years ago."

Yep. He will get a shocker when he actually sees the check. I can find 2024 models for price you mentioned locally on the marketplace. And this is before even negotiating. I know dealerships would rather have these off their lots.

Uber Lotus nerd/pedant here... The original Roadster was based on the Europa S (the door sills and 5 lug wheel nuts are the giveaway). Another fun fact. The "carbon fiber" panels on the Roadster were made in exactly the same way as the Lotus glass fibre panels, just with the outer lay-up being of CF. This actually made them heavier than the Lotus equivalents. 🤣🤣

Thanks for the update. Technically still a variant on the Elise, as both the Exige and Europa S were modifications of the Elise chassis. Part of me deeply regrets not buying an Elise, when US models could be had for < $20k. They've more or less doubled since. I think I was deterred by encountering one at a gas station on a road trip in 2012 or so, and seeing the finish riddled with cracks (perhaps due to differences in thermal expansion between the fiberglass and top coats). Seems like a car that definitely wants enclosed storage, and I'd have offered a bad home. Still, can we commiserate on the post Geely models? Colin Chapman rolling in his grave.

We’re planning to just drive ours until it dies. Otherwise it’s pretty impossible to recoup any significant value from it at this point. I’m sorry you’re in a situation where you have to sell OP.

This!… My car is 10 years old and still almost like new… cos it’s not a Tesla, apparently.

It was slightly more than hype... Back in the old days Tesla had a 50% residual guarantee on the Model S. Rather than crystallize these guarantees as losses on sale of the cars into their books they actively parked off lease cars up in fields and dripped them into the market to control the used market. Couple this with crazy early trade-ins on pre AP cars vs the P85D and Tesla artificially set the used prices. This simply couldn't scale, but it did buy an early reputation for low depreciation. TBH I suspect we still haven't seen the worst- as Tesla gets more desperate for cash and volume they are going to be offering "ex-demonstrators" i.e. channel stuffed pre-registered cars, further tanking the secondhand market.

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Just be glad that model Y isn’t a model X plaid (or any model x really).  $140k to ~$90k new almost overnight in the last couple of years You also are making out way better than anyone who leased a vehicle for almost as much as what the vehicle costs recently and won’t be able to buy out the contract

welcome to the club. I lost $70k on my model s plaid in just 2 years. if you really want to move on and get rid of it, take the carmax offer, that's a very good price, considering auction is low 30k. it'll be a very hard sale for private party when there's thousands out there for sale for less.

To be honest: I am surprised at how high your estimates are that you got. I would have thought it would be between 20 and 25k at max. I personally would never buy an EV used. Hell, I would never buy a new one. Only Leasing with EVs. At least you don’t have the hassle to sell them later.

What model?

It’s a Tesla. It will still run fine but look pretty run down inside. Cheap materials built cheaply.

EVangelicalists will be like 'that's average for an ICE vehicle'

The problem with Tesla is the absolute shit build quality and the service centers are overrun by angry owners.

If only more currently frustrated Tesla owners were listening to the hate Musk ans Tesla get on Reddit, instead of worshipping him, they'd not be losing money every day. But I guess Reddit is just full of jealous incels according to X.

Because the boss is taking things in the reich direction rather than the right direction. Can't be supporting that or those that do. (Edit spelling, Thanks Sir Didimus)

You're not wrong, but OP clearly stated that they are being forced to sell.......

I currently have the never available in the US V6 Exige (a mashup of the Elise and Evora). Bought new and I'll never sell. I've previously owned a S2 Exige (daily driver when I was young and foolish) and an early Rover K series Elise as a weekend toy after that. The Emira does look nice in the flesh, and does improve on the Evora, but even as a Lotus fan I'd be more tempted by a Caymen if in the market for a daily-able sports car. As for the EV stuff - I agree Colin would hate them.

Your mistake was buying a car, any car, and thinking it was an investment.

>"Tesla as an investment" I have never heard this said before. Cars have always been a depreciating asset, besides some very niche 1% vehicles (Which are almost always not mass produced passenger cars) all vehicles depreciate to nothing and this is well known.

Musk strikes again! Something something "appreciating asset"

Tesla UK website still has filters, however it looks like every used car has Enhanced Auto Pilot enabled, which I'm sure wouldn't have been the case when new.

Yeah. I mean admittingly, my car is older than OP and while I have complaints, I would probs get another one. But I’m fine with keeping mine for another 5 years because anyone that buys a new car to sell it a few years later is an idiot.

Same concept here for me. 2018 X, 109k miles on it. Plan to get it to 200k. We use it as much as we can as opposed to our old ICE cars. I did the rudimentary math in my head, and it dawned on me, only way to get a positive ROI on it is driving it more to offset cost vs gas savings.

Probably a DeLorean DMC-12

If deals seem too one sided turn them around. We bought ‘22 Model S $32k. Can you export the car? Multiple cars?

A car is (hopefully) the fastest depreciating “asset” that you will ever own, most notably the second you drive a new one off of the lot. I’m really sorry that you bought the hype and believed that your car was Not Like The Other Cars, but tbh, it is even worse given the insane toxicity that the brand is now associated with. You go duped, sorry.

Having it shipped to your new residence sounds like an interesting option now

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Tesla is a special case since it's not normal that a car sold for 63k is sold for 44k 3 years later.  Anyway, I don't get why people focus so much on the resale value: when I buy a car I think of using it the longer the better. Not in how much I would sell it. You like your car? I'm sure there were cheaper cars in 2022, but you choose that one bc, for you, the price was justified. Just enjoy it.  You have to sell it bc a job relocation? Just sell it for what you can. Honestly, if the new model is 44k, selling it for 40k with 3 years it's a great deal for you. To good to be true. If I want to buy a car and have to choose between a new one for 44 or a used one for 40, I'll go for the new one. No doubt.

You got musked.

My 2021 model 3 is on its third battery replacement.  Five years is absolutely riding these pieces of shit into the ground

If you’re going to own a Tesla (or most EVs for that matter) buy used. Whoever owned my ID.4 previously got absolutely hosed on the trade in.

I just bought a ‘23 MYP with 16k miles for $32.7K. The numbers OP is talking about seem odd

why would anyone ever "invest" in a car 🤣

Our cars are a 2006 VW T5 Multivan with 275k KM and a 2012 Mini Cooper S with 95k KM. I guess they are both driven to the ground, twice each.

It didn’t depreciate like crazy, really, you just bought it during a price spike.  Any car you bought back then would have cost you far more than normal, and today wouldn’t sell for those inflated prices.  I remember looking at a Kia carnival minivan and being told it was $8k over msrp! Just in general - unless you are rich enough that the money doesn’t really mean much to you, or the maintenance is killer, you should keep driving your car longer.  No reason you can’t drive it for 20 years.

Bought my 2022 Model 3 Dual Motor for $75,000 CDN, just sold it on Monday for $22,000 CDN with 150,000kms. In 2019, CEO Elon Musk claimed that Tesla vehicles became “appreciating assets”: “Buying a car today is an investment into the future. I think the most profound thing is that if you buy a Tesla today, I believe you are buying an appreciating asset – not a depreciating asset.”

Volvo used to have an ad about how longs Swedes keep their cars.

How is that even possible ? 99% of Teslas run like new with 15-20% battery degradation after 10 years and several hundred thousand miles on the clock, you’re really an exception. Could you please give us more details, I’m genuinely interested to know ?

The most expensive 2022 MYLR on Carvana right now costs $32,900. So I call BS on this entire post. There is no way you've been offered above $30k anywhere.

Unfortunately for you a large percentage of the EV buying public won't touch a tesla because of their ceo causing a supply vs demand issue.

Man. Teslas are nice but resale is awful. And battery packs NMC are garbage. China is doing it right. They have car makers over there that give you lifetime warranty on the battery as long as toi are the original buyer.

Yup in the same boat. I would have dumped my Y 2 years ago if I wouldn't have bought it when Tesla was price gouging. Although wondering if you are talking CAD because my Y was only worth $28k USD last I looked.

Half price after three years is totally reasonable. I'm sorry you bought into the lie that EVs don't depreciate🫡

Were not even close to the top in EU still :D But for sure we keep them a long time. We don't have same car focus as other places so it's not as common that someones whole identity is their car.

He didn't lie - he probably did believe you are buying an appreciating asset. So, the sensible conclusion is he is a moron, not a liar!

Elon became MAGA and this has absolutely alienated most potential Tesla buyers here i Denmark. It's sad really.

I usually ride a car into the ground my wife does as well, we usually manage around 18 years before we have to give it away (ground is relative because the next owner does the repairs we deem to be too expensive, himself and rides it for another bunch of years)

What if his new country of residence is Germany?

After first three years, that deprecation sounds comparable with other brands. Actually, not bad at all

$35k trade in? How many miles? Seems pretty high.

Jaguar owner here... Cry me a river of tears; A rising tide lifts all boats!

This is the correct answer. When new prices fell, we got stiffed by the amount the prices fell, the rest is depreciation. I paid 60k in 2023 for a MYP, it’s now worth maybe 32k, but I also got 7500 and didn’t pay $5k in tax that I would have paid on a gas car - plus never paid for electricity (I’m at 30k miles) Loss has been about $12-15k. In real terms. I’m not too unhappy about that.

If you bought it on March 2022 then it’s almost 4 years old, so if you can really get $37k now, you lost $26k from the original price of $63k, which is about 41%. It’s actually not too bad to have 40% depreciation in 4 years, there are some cars that lose 50% in 3 years, and I would have assumed Tesla could be one of them, so what you’re getting is much better.

Dealership offers are insanely low if they will even take it because they know the depreciation is faster and used EVs take forever to sell

I am genuinely surprised the depression isn't greater, considering the cost of brand new Tesla, Musk's ongoing flirtation in politics and Tesla's shoddy build quality.

Lol right? My current car is 10 years old. My last car was 20 years old.

In 2019 I bought a 1 year old Kia stinger for 36% off new. This doesn’t seem so bad.

- It's well known that cars in general are a terrible investment that pretty much always depreciates. To me, buying brand new is a self-destructive decision. - Elon ruined Tesla's reputation too, reducing their demand. - And luxury buyers have other options now, so competition is a factor. - Never understood needing the newest car or seeing it as a status symbol; once you arrive, it's just your personality doing the work, so why not get an inexpensive reliable car? For example, I had enough for a new Challenger that looked cool, but I paid $5k in cash for a much more modest car. Averaged out to $1000 a year ultimately. Is it vanity to want a shiny new car?

Honestly, duh. EVs in general have terrible resale value over this kind of period, since new better more sophisticated models are constantly pumping out. Competition is unpredictable and fast paced. Would personally never buy one off the lot. And Teslas maybe more than most now.

Do you think if the new ones sold for 62k even now, yours would resale for the price you are getting? Considering the new ones going for 44k, I think it’s a good deal if you are even getting 37k.

EV's don't hold value. If you want to minimize depreciation, you have to buy it used from a private party and sell it to a private party. The only exception might be the plaid trims which might depreciate a bit slower. Tesla is the best car I've ever owned, but I can't kid myself it's not a money pit, even when the sticker prices have come down. Depreciation and insurance are both ridiculous on them. They are also similar to smartphones, with planned obsolescence. I even recently traded in just for HW4 since they won't upgrade the HW3s.

Right, you aren’t special just cuz there’s a T on the hood The Tesla is an investment idea was a covid fever dream that ship has sailed

Investment?!? Haha it’s a car so this was such an obvious outcome.

Oh how I miss my boxy wagon…

Probably the sort of person who takes on a 10 year car loan, which is a thing I learned 6 months ago exists.

You should have seen this coming when Elon went full nazi

I've seen MKBHDs video on the Xiaomi car. Honestly, Tesla can pound sand. There are much better cars out there. We just can't get it because Elon bought himself a president and government.

All EVs are like that right now. Looking at used Ioniq 5s, same story.

*Laughs in owning cars from 1995, and 1986.

Toyota hilux

When a manufacturer lowers the price for a particular product, that lowers the value of all the previously sold products. Yes, you’re competing with new cars since the price has come down. During times with high inflation manufacturers raise prices in new goods and consequently raise the value of the older products. The price of EV’s has come down pretty drastically. I bought a 2016 model s new and paid around 130k at the time. It wasn’t even the top of the line at that time. You had to pay extra for most of the things that are included now. It’s the price you pay for being an early adopter in an emerging technology that is becoming cheaper over time.

Still drive my 2004 wagon every day

\> "Tesla as an investment" Who told you this? 99.9% of all cars are depreciating assets. No one buys a car for investment purposes. lol.

Every EV’s aftermarket sales price is shit. Not just Tesla.

When something depreciates that much it's because it's being sold far above the price that it's worth. It's not the depreciation that's criminal. It's that the price that Elon is charging is outlandish for what you're getting. The market will bear what it bears. No new car is an investment. If you want to buy cars as investments, look at something like a 1950-1960s classic that's going to sit in a garage.

Not sure why this turned into a national pride thing. Average age of a car in the U.S. and Europe is about the same, and way older than OPs Tesla.

Im stealing that line

Eventually any battery no longer holds it’s charge. Logic dictates that it equals decreased value. It is why we get less money when we trade our phones back in. Why you or anyone else would think something that’s mostly a battery would retain value is beyond me. Best of luck to you, hold onto to it. Maybe things will change. 🤔🤔🤔

They add enhanced auto pilot to sweeten the deal on all of their used vehicles, a Tesla representative told me when I was inquiring about their used cars. But they still sell at around 5K more than the car is worth, so few people are buying from them

Our lease buy out with 8 months left on a 48 month lease is nearly 8k.

You can use Tesla superchargers, as well as other charging networks. They’ve opened the Tesla network to most other brands at this point.

But Elon promised you Teslas would be the only car to appreciate in value.

Keep it for 10 years. Buy the 2 years extended warranty for the HV system and not have to worry about unexpected battery/motor costs for the entire time. I am over 7 years in on my 3. Do not buy the 2 years until it is close to losing your 8 years just in case you total it. Not sure if we can get a refund on it.

The model S was mind blowing, so innovative. Of course there was massive demand and a great resale market. Teslas biggest problem is the other giant car companies figured out they could build an electric car also.

Sorry that you fell for the Tesla “it’s an investment” pitch. It’s a car; cars depreciate, and EVs depreciate faster than most because the technology is still changing fast. On top of that, Tesla is having a tough time selling new cars, so has cut prices repeatedly — three years ago you paid $63k for a car that is selling for $49k today. So more than half of your depreciation isn’t _really_ depreciation at all — it is loss of initial value. Essentially Tesla has said: “You know that car we convinced you to buy for $63k? Nah, it’s _actually_ only worth about $49k”. Financially your best bet is to keep driving it until it needs any sort of major work. For a Tesla, that is likely somewhere between 100,000 and 150,000 miles, or another 4 to 8 years based on your stated mileage. You state that you have a new job where you can’t take the car with you — is this a financial impossibility (e.g., you live in Boston and have taken a job in Honolulu), or merely annoying (you live in Seattle and have taken a job in Miami)?

Tesla is no longer a prestige vehicle since Elon went extreme right wing. Simple.

Tesla sucks dude. Cheap paint and interiors

What? A rule of thumb is that any new car depreciates roughly 50% over the first 3 years of ownership. If you get anywhere near 40k from a car you paid a little over 60k three years ago, you should be stoked

Did you not claim a tax credit and maybe state incentive too?

*Reich direction.

If your car is running fine you shouldn't sell your car. But like cars dont appreciate unless its a super special car. The only Tesla that may end up appreciating in value is the original Tesla Roadster since its a very special car and there's pretty much no sports car roadster EVs for sale on the new market anymore.

All new cars depreciate significantly the first 3 years

Considering the average car age is almost 13 years now in the US and the "EVs hold their value better" comment this post has been wild.

Absolutely, this isn't bad at all and frankly has nothing specific to do with EVs or Tesla

Hate to tell you but it's probably worth $25k, $30k at best. If you're getting more than that, take it and run.

Or it's just like any other new car

That sucks you took a bath on it but not much you can do about the resale value.  I assume you are moving overseas if you can't take it with you (transportation costs being too much); otherwise, pick a weekend and roadtrip that car to your new location

There is that oil company that is making new versions of the vintage land rover (Ineos Grenadier) and what I wouldn't give for someone to come in and make an electric Volvo 240 wagon knockoff. If I got rich that is precisely what I would do. Of course this is why I am not rich.

I thought 50% resale value  after 3 years was par for the course. You're doing much better than that. What were you hoping to get for it, and which other car do you think would have done better ?

I thought 50% resale value  after 3 years was par for the course. You're doing much better than that. What were you hoping to get for it, and which other car do you think would have done better ?

You first said that you need to sell since you’re relocating and can’t take the car with you. Then you said you are thinking to keep the car for longer. So is keeping the car an option or not?

Yep, can't afford to switch out my model 3 to something (anything) else.

Great shitpost! Made my Sunday!  You had me until the Tesla as an investment line! Bravo

I just bought a 26 Y AwD for 45k of course yours is getting crushed lol it’s called deflation.

Lol, the brand is barely 10 years old.... Where are you getting your numbers?

Typical lease is going to show a residual of 60% in three years. That's about what you are looking at not to mention I assume you got a tax credit. You need to think in terms of % not value.

How many miles are on it? I had a 2019 Model 3 SR, sold it in 2021 w/45k miles for more than I paid. Bought new for $33k (after tax credit), sold for $41k. Timing was right. Today, it'd be worth like $10k lol I think the problem is that Musk killed the brand image and they had to be aggressive on price to move units and like you said, you're competing with their new sales and frankly, just better EVs But really, you bought at peak pricing. No matter what vehicle you buy, that'll likely put you upside down.

The first Model S have been manufactured in 2012, 13 years ago…

You think that's bad? My wife's BMW IX we bought in 22 for $96000. We got the tax credit so let's just say $89,000. After 3 years our trade in value is around $36k.

Where are you getting your incredible numbers? Like i said the company is barely 10 years old and they didn't sell any real volume of cars until the model 3 came out.

My 2020 Y is deprecated so much that if I try to sell, I’d probably have to pay someone to take it. I’m just going to drive it until it simply dies and then I’ll just leave it and walk away.

Those are strong offers dude… I’m about to buy a 2023 HW4 MYP with 19k miles for 35k OTD. Go take the car max offer and move on. You’re dreaming at 40k.

https://www.motortrend.com/news/tesla-model-s-x-battery-health-over-time https://teslamotorsclub.com/tmc/threads/battery-degradation-%E2%80%93-10-year-report.285721/ https://www.reddit.com/r/teslamotors/comments/8c878t/tesla_model_s_battery_degradation_data_average/ https://www.shop4tesla.com/en/blogs/news/tesla-gibt-ein-update-zur-batterie-degradation-beim-model-s-nur-12-nach-200-000-meilen https://insideevs.com/news/664106/tesla-battery-capacity-degradation-average-2022/ There are dozens of similar reviews

Elmo hustled you guys! SAD

These are rookie numbers. I’ve put almost 60k miles on my Model Y 2023 and don’t plan on selling until I hit 200k (or until Tesla’s bricks my vehicle to try and upsell me). I’m planning on holding for at least 10 more years.

The more we lose the better as far as i am concerned— i bought before Musk became in sane and the most dangerous vile human on the planet—it is a swasticar and i would admire any ethical vandalism. While he profits— his products are totally unacceptable

Teslas are to be leased, not purchased.

These numbers are actually higher than I thought they would be. Used EVs are very cheap right now. Some are half price after 2-3 years.

When Musk decided to go full Nazi, we sold both Teslas. This icing on the cake was when we got flipped off by a middle schooler. Prices started to nose dive about a month later. Love the car and still drive EVs, but we are done with Tesla for now. Currently have a Kia EV9 and waiting on our Rivian R2

I bought a lyriq last year for 78k and it's worth 37k now electric cars are getting trashed

Buying any car is a gamble and taking a big loss means they took a huge gamble and loss. Doubling down sounds like a compulsive problem.

For the millionth time, cars are not investments, they’re tools. You will almost never get back the money you spent on any car, EV or not. Also, Tesla’s horrendous resale value isn’t something that’s new, it has been that way for 5+ years. If that didn’t go into your decision making when you bought it, that’s 100% on you.

Tesla doesn't have enough quality for that long of longevity.

With the way you do math, it doesn’t surprise me you got fooled. If you bought the car March 2022, you’ve owned the car almost four years, not “less than three”.

Tesla was and continues to be a failed Ponzi scheme.

Nobody wants new Teslas, so you can do the math on used ones!...

Could be worse, we just had some trade in a CT, and carried $19k negative equity into his next car. Theyoffered him 51 and he took it with 20k miles, owed 70.

Right? These guys act like depreciation on cars, especially that one, is a foreign concept, when in reality you keep it 7-10 years to stabilize it and get on the other side of it.

Overpaying in the first place makes the depreciation worse

And people say “I’m saving money on gas”. And don’t do this math up front. eVs will fall faster then gas as the tech moves forward quicker.

On the flip-side, "until thr wheels fall off" might come sooner than OP would think.

I'm shocked your offers are that high TBH. Seems like a good deal if you can actually sell at any of those prices.

In 3 years it will be perhaps be worth 20k, so keep it if you want to double up your losses

We bought a 2024 Audi Q4 with 15k miles three months ago for $34k and sticker price was $64k. Your depreciation doesn’t sound as bad.

Are these people for real? Dude, you are lucky trump has banned, or tariffed the fuck out of Chinese cars. If BYD was allowed to come to the US, your car would be worth 25k maximum by now. A BYD seal U costs 20.000 in china, has better battery, better build quality than your long range model Y (my father got one here in greece, its absolutely insane how luxurious for the price these cars are) 14 infinity speakers, leather everywhere, heated seats, basically, anything you could ever imagine.

Who buys a car and thinks is going to hold value? Unless it’s a niche of course or a limited run low produced one? Lmao

Brother just learned about buying a new car 😅

A2ed. Óz

I keep my vehicles for 10 years or more and get rid of them when they are worth less than 5000 or when it’s starts giving me problems.

Hey! I was actually able to find a registry for ten year old Tesla's.... https://www.car-part.com LoL 😂

“Investment” !? and I thought I was taking the crazy pills.

My last car was 12 years old with 289k miles on it before I gave it away. Drive it into the ground.

It’ll probably hold up for another 40. Don’t ever sell it

My latest offer was $19k for 71k miles on my 22MYP.

Sorry you lost the MSRP drop value instantly that's just how it goes. Your car is not an investment what a dumb concept

Bro I have no idea who told you ANY car was an investment, they’re money sinks. 2-3 years is running it into the ground? Have you seen how people are able to drive old Camrys and Civics for over 300k miles and keep them for 20 years? America is so hyper obsessed with having a brand new toy every 5 seconds with consumer culture. Are you planning to sell it? No? Okay then keep it for 15 years or more and get your moneys worth. If you were planning too: I have no idea what to tell you. There is almost NEVER a reason to buy a brand new vehicle. Even purchasing new old stock from the prior year or two saves you considerable amounts of money. I hope nobody has put you in their will OP, don’t wanna see how you manage to “invest” that

Every new car depreciates 25-30% as soon as you drive it off the lot. And then 5-10% every year after. Only vehicles that hold about 50% at the 5 year mark are jeeps and some pickup trucks

Why would anyone buy it at all if years 3-6 constitute “riding it into the ground” meaning it will have significant repair problems

Mine was the same. $62,000 for the car plus $12,000 for FSD. $74,000 for a car now worth what I owe on it. I won't be selling or trading it, and I won't be getting another Tesla if this is an indication of resale value.

Oh man, I remember how for YEARS people said this crap and thought it would never end. It’s been quite a while since it ended, though!

It was a meme with Tesla folks for a while when their cars didn’t depreciate much. Elon fed the fire by insisting appreciation would be significant with robotaxi ability coming to your car so you could make it a revenue generator.

Just take your Tesla to Mars. Egon is building a city there and used Teslas are going to be in high demand!! Just trust Egon and everything will be fine.

I had one at UK launch so well aware of what a great job Daimler did on designing it ;) Body in white and packaging was mainly Daimler engineers on sabbatical at the time they and Toyota were major shareholders. Toyota helped with the production design at Fremont. In fact originally Tesla pitched as a Fabless automaker. The idea traditional automakers couldn't make the Model S is a nonsense. What traditional auto couldn't do was make the Model S at a profit, and so didn't. Meanwhile the "difficult bit" of EVs, the battery, leaves Tesla in cylindrical cell hell while the rest of the world rightly march forward with 800v pouch based packs.

My second car is a 2010 Volvo xc60 T6. With only 161,000 miles on it, I think it will be around for a while. The only issue is that my mechanic is always finding Ford parts and laughs at me for owning a Ford. I thought 2010 was all Volvo so I find it out to find Ford parts under the hood.

What the fuck are you talking about. That's literally the same amount of depreciation as every other car. Every car ever made depreciates 35-40% in the first 3 years. People are so bad at understanding how money works.

I'm honestly surprised your offers were that much from Carvama etc. Also now with hardware 3 you can't update fsd so that's a problem. The 2022 for sale near me are all like 25 to 27 sale price

Buying a Tesla was never an investment. You bought a luxury car, of course it’s depreciating.

Some cars depreciate like a tank in the ocean. I had an infinity that dropped half its value in 2 years

I bought TWO 2023 Model Ys this year. Paid $34k out the door for each. One had 8k miles and the other had 32k miles.

Next year the used market will tank more

You CAN invest in cars that appreciate in value, but you can't actually USE them as daily drivers.

Biggest surprise is the offers you have gotten were that high. That means they are selling for more than that. Crazy.

All EV's drop like a rock, the tax credit is the biggest reason. That's also why brand new EVs dropped in price right after the EV tax credits ended. Manufacturers knew they would have to slash prices to move inventory. This really hurt the EVs that are only a couple years old because the used tax credits also ended and people like OP now have to compete with brand new EVs with their post tax credit pricing.

All EV's drop like a rock, the tax credit is the biggest reason. That's also why brand new EVs dropped in price right after the EV tax credits ended. Manufacturers knew they would have to slash prices to move inventory. This really hurt the EVs that are only a couple years old because the used tax credits also ended and people like OP now have to compete with brand new EVs with their post tax credit pricing.

Musk has ruined Tesla

Buying a Tesla is not a gamble anymore. It is certain huge loss, and very possible injury /death.

It was mind blowing in that they abandoned the hybrid concept and 100 years of internal combustion engines. That leap of faith was something the other companies refused to do. Of course many key components were supplied by Toyota but it was the entire platform that was innovative. The fact the other companies didn’t seriously attempt EVs until after Tesla created the market shows this. I would almost argue the greatest innovation was the super charger network.

I don’t invest in them, but I definitely get a car that know will hold a great deal of value. Tbh brands like Toyota you won’t *make* money when you sell it but they hold and depreciate so slowly that they’re amazing for trade in and such

I believe in the past Tesla would buy back the cars at a higher than market value to artificially inflate the trade in value. Makes sense then because the market was new and didn’t know if people would want to buy a used EV. I guess those days are gone. I got a killer deal on a 2023 EQS 580 Sedan. It’s basically fully loaded. Best car I’ve ever owned and I will drive it in to the ground. In California the battery gets a 15 year warranty.

EV depreciation has been in the media and especially social media for years now. This shouldn’t be a shock to you this late in the game.

If you’re able to get that much for the car when you list it take the first one to bite because as someone that works in the car business, those things are an absolute loser on money and they are a pain to re-sell. Tesla is a technology company selling cars. They are NOT an automaker. They have so many plastic pieces and cut so many corners that real automakers know you don’t cut, it’s unbelievable. When a new one arrives at the Tesla dealership? They have a whole assembly of plastic pieces that need to be clipped in. They’ve got the chargers down, I’ll give them that. So many people buy into the hype but no one wants to acknowledge that electricity is powered by fossil fuels, so you’re not being any more ‘green’ for the environment and that’s the real joke of it all

Seriously. Mass-produced EV's have a history of higher depreciation than most other cars. The Porsche Taycan and Audi equivalent depreciate close to 50% in the first three years of ownership. No idea how people thought anything from Tesla, other than the old roadster, was going to appreciate, let alone retain its value. The only new cars to consider as "investments" in this market are limited edition variants of high-end models, like the Porsche 911 S/T which was only available to a very few loyal customers at MSRP ($300k). That car is now selling for $600k+ on the secondary market.

The only one that makes money on these cars are Elon. Now you know why he'll be a trillionaire. It was like taking candy from a baby.

Ride it out. Have it Professiibaly moved. Tesla wanted to release the model 3 for 35k. That didn't pan out but they never pretended they did not want to keep driving the prices down.

Also they generally need to be rare boutique exotics, not mass produced commuters marketed at consumers.

'Tesla as an investment' is a crazy concept. At the end of the day it's still a car, one that you are actively putting wear and tear on. Unless it's a unique manufacturing number, one of only a very few, or already a classic, time is not normally a friend to cars. I would encourage you to think of it as paying a 'cool tax' on your car. You could have easily chosen a Toyota or Honda for half the cost and far less depreciation, but Tesla has (had?) cache and you got to enjoy that benefit. That's awesome, you got to enjoy the latest tech and the 'wow' factor for a few years. It's similar to buying a Land Rover or Maserati, great luxury and name brand recognition but also sinks like a rock in residual value.

Caveat Emptor

Don't buy a Nazi car, just a thought

The frunk of the Model S was originally intended for a REX - Elon even went as far as saying the REX variant would be the biggest seller at one point...

How did you manage to pay $63k for that shit box in 2022? Did you buy FSD up front or not be eligible for any fed/state tax incentives (should have leased if so)?

I thought 10 years was crazy until Trump suggested creating 15-year car loans along with his 50-year mortgages pitch.

It was sold as an appreciating asset according to Elon.

It's almost 4 years old. A new one is 44K. The fact that you can get 37K as it sits now is pretty good. I would pay 7K more and get a new one.

The car is now 4 model years old, it’s not as crazy as you think it is (Tesla as an investment stupidity nonwithstanding).

Is it even possible for an EV *not* to depreciate considerably faster than non-EVs? The battery alone...

That CarMax value is amazing. Take that and run. My EV depreciated from $70k to $40k in 2 years, and it's an actual good car that doesn't represent white supremecists and neo nazis. You should be getting $25k for that pile. Take the $37k and laugh all the way to the bank.

Any "normal" car (even an EV) loses 30-40% value as soon as you leave the dealership. (Unless they have the "try before you buy" option of driving for 30 days or whatever)

"Usually" "18 years" Just how many 18 year chunks have you both lived through

Do you think it was free to own your car? Your loss is equivalent to paying a 611/mo car payment. Wut

“At the time I justified it because "EVs hold value better" and "Teslas are different".” This can’t be a real statement.

Buy low sell high🤔

This is why I'm going to buy a used one. What's the out the door price?

Suck it up, yuppie!

I'm beginning to think you're right. No EV from 2022 is worth high 30's in that class, let alone a Tesla Y. That'd be like a $80-90k luxury EV.

Yup, my social media feed was flooded with high depreciating cars recently. Tesla is bad, but nowhere near as bad as high end luxury cars. 2022 Bentleys with 60k miles that sold for $189k are going for $55k.

Awww, your trendy little POS isn't holding value? Too bad.

Try owning a large SUV. New is 90k. Trade in 2 years later is 45-50k. Diesel HD trucks typically depreciate about 5k per year. So if resale is important, go buy an F250 Powerstroke and trade for 5k per year. But you have to set that expectation with your dealer before you buy, and in an area with high sales of those kinds of trucks, no problem.

But you haven't bought gas yet...

The fuhrer said that Teslas are appreciating assets and he never lies. This is simply impossible. Your file has been noted for review by the Elon Youth. Good day.

She'll outlive me

He meant an investment in HIS future.

Paid $20K for my new Honda Civic Sport in 2020. Trade in value now listed at $18-20K. 35 mpg. No problems except Honda maintenance is $$$.

Those numbers you are finding are very optimistic. After turning in my 2023 MYLR a few months ago, I later traced its VIN number number to a used car lot in Boston, listing for $32k. 2 years old, very well cared for,14k miles and still being offered for that price. The residual price on the lease had been $37k. Elmo's Hitler salute was very expensive for the company and for their secondary market.

The thumb rule pretty much always was, lose 50% value in 4-5 years. Seems right on track.

Haha, my 2021 Tiguan is doing great with resale value. Teslas are shitty cars, no one wants them.

50% off in 3 years is how it was to buy new in early 2000's. Nothing new, just coming back with how expensive new cars are and how many is being produced. Not enough people to buy them all used.

March 2022 to now is almost 4 years not less than three years. 36% depreciation in 4 years isn’t THAT crazy. Per Kelly Blue Book “On average, new cars depreciate about 30% over the first 2 years, and continue to depreciate 8-12% each year after that.”

Average Tesla shill

[derp](https://media0.giphy.com/media/v1.Y2lkPTZjMDliOTUybzBveGJtaXl6bW04bTBwcGtueHE5ZWtkdjNiYXd1cXNqMWpubDZiYSZlcD12MV9pbnRlcm5hbF9naWZfYnlfaWQmY3Q9Zw/zHkwPfz4nfFXnVS0W4/giphy.gif)

an ice engine model 2022, bought for similar price, would have 28K market value today. You are still better off.

I bought an EV understanding this. The only person I've ever heard say EVs depreciate less is Elon. He said Teslas were an appreciating asset. Apparently some people actually believed his puffery bullshit.

There's an old expression about someone and their money being easily parted. Seems relevant

Yeah I was noticing that his depreciation seems in line with norms.

Did you nazi it coming?

Nobody wants to buy them after Elon went crazy

You should run to the dealer if you are getting offered 37k. I’m seeing 2022 model y 40k mile cars listed in the mid $20k range.

If possible; buy 2 more 22’s, DCA your purchase price to 40k, and never worry about buying another car. Your Tesla is still one of the best automobiles ever produced regardless of peoples feelings about Elon.

Nobody wants to be associated with Tesla anymore. That’s why.

I’m sorry for your hit, but I don’t understand the appeal of Teslas. They’re uncomfortable. It’s like riding on the road.

Take Carmax and run. It’s not getting better

You get what you decide to pay for. Artifice and marketing nonsense aren’t worth much in the long run and usually come with a burn at the end.

Whine some more please

Why can’t you take it with you?

Who told you a vehicle purchase was an investment 🤣 that so idiotic!!

Your depreciation doesn’t sound far off from a luxury or domestic car? Why did you think a Tesla would be different? Irrelevant of political stance, the ev market was artificially inflated by the tax credit and that was going to end and now there is a lot of inventory out there, the prices reflect it and it was to be expected

Welcome to car ownership. Sounds like the depreciation curve of any car in that price range.

lol. I want to feel sorry for you; but you bought a vehicle from a company that lies constantly, has missed almost every single production target or product benchmark they advertised… and you’re surprised?

Have you never bought a new car before??? Just about every car drops half of its mrsp in 3-5 years. Theres some exceptions like toyota. But EVs are just slightly worse than the typical ice car.

You won’t need a car in the Mars colony.

This is preferable to the Chinese parts found under the hood of current generation Geely Volvos.

Honestly, I’m surprised yore even getting mid to upper $30s. I sold my 2021 in April and my offers were low to mid 20’s. The dealer I got my new car from didn’t even want to make an offer on it.

I mean you also bought at peak prices when musk took advantage of the covid craze. Sure there was normal depreciation but the drop between the price you bought it at and the price you should have bought it at are part of it.

This must be Canadian dollars right? 2022s are selling for way under 30k on the used market.

I got 2018 model 3 with 170,000 miles on it. Im driving that thing till the day it dies. Paid 60k back in 2018. Now is worth maybe 8k and thats because it has a 5k semi self driving option. The car doesnt need an oil change and runs just as good as it did when i first got it. Range might have degraded but i get 200 miles out of it on an 80 percent charge. Only thing i replaced on it was the broken window up down button, and the 12 volt battery and a few sets of tires. Still accelerates very nice

Whenever I buy a car I mentally devalue them to pretty much $0.  That way whatever you get for them when you sell is a bonus.   Helps too of you keep them for a long time, my daily driver is 15+ years old.

OP - where are you located that you are getting offers in 30xx range? If I were you I’d take the carmax offer in a heartbeat since I have the same model Y with 35k miles and only getting 21-22k trade-in offer. Tesla had me good!

I mean most cars lose half their value in 3 years and you still have more than half. Sounds good to me. This is why people suggest buying around the 5 year mark. It has already lost half of its initial cost and is still relatively new.

Also, losing 35-40% over 3+ years, especially for a vehicle that initially cost $60k wouldn't even be bad. Heck, my Honda CRV rom '22, which was around $35k, probably has depreciated around 30-35%.

Paying $63k for a MY was absolute madness. Boggles my mind that people didn’t see this coming from a mile away given the obvious supply constraints of 2021/22. People can get a brand new Juniper, which is objectively better in every way, for $48k with 0% financing so you should be happy you’re getting offers near $40k for a four year old vehicle. I paid $52k for my MY in June 2021 and I’m thrilled to see it’s still worth mid 20’s. Peoples minds were broken during COVID lol.

In the same boat. But I have it worse; have an accident on my report due to someone falling asleep and bumping me while driving. My car is valued at 25k or so….I actually like the car, so I’ll drive it for 6-8 years and then trade it in. On the other hand. My wife’s 2021 RAV4 purchased for 41k OTD has a higher value than mine currently.

You should be happy it retained that much value!

I have a 2022 MYP and if anyone offered me $40k I'd take it and run. That turd wasn't worth more than $30k new. Cheapest built car I ever owned. Only reason I didn't sell it was the depreciation. I paid 70k for it at peak.

TIL people expect a high figure for a used electric car that doesn’t have a long shelf life

That 3 years of depreciation is more money than I spent on my Toyota rav4. Thing has only dropped 1k in value since I bought it 3 years ago.

Yes but to believe anything out of that nasty mouth is on you

The reputation of Tesla is tarnished to the ground. I would not be caught dead in one

> "EVs hold better value" ???? Did you do any research **at all**? EVs have **always** depreciated worse than ICE vehicles.

Exactly what the salesman told me at Mercedes-Benz when I tried to trade mine in.

Which is why I ashamedly continue to drive my model Y.

I still drive my 3rd gen 4Runner. It's got classic plates on it now.

Around 30% of people trading in their cars are upside down on the loan. One of the causes of high credit card debt is car repairs due to major breakdowns of the primary vehicle. Majority of Americans are one major car repair away from losing their job. If a regular working member of the middle and lower class can get by with mass transit you ultimately are wealthier.

Musk has been a sleazy dude for years. People just don’t catch on. I’m sure the cult will buy his little robots too. Well, if they ever walk properly by themselves.

Cool suggestion but I doubt it. I’ve worked on one personally. Looks cool but rides terribly.

Was that back in 1941?

It's a Swasticar. Surprised anyone would buy it.

Exactly, I wouldn't believe battery health at 96%...

> as Tesla gets more desperate for cash and volume they are going to be offering "ex-demonstrators" i.e. channel stuffed pre-registered cars, further tanking the secondhand market. This is already happening. Perhaps even more drastically than you think. Go look on used car sites for low mileage cars. At the end of every quarter there and hundreds/thousands of <1000mi used examples popping up all over the country in auction lots. It's a plainly desperate attempt to show volume not falling off a cliff.

It was in reference to the year Marty.

This is a wild post and I am not a big car guy, but one thing I learned is that whenever a car leaves the dealership, regardless if new or used, the price automatically drops by at least 20%... The only time you get to make a "great" deal is when you buy cars at the auction and are either a mechanic or have the ability to fix cars.. I don't see how Tesla could become an investment, I mean look at all the Cybertruck people that thought they bought a gold nugget..I hardly see any on the road. Tesla is not an investment if you buy the car. It's a meme company at this point and for a lot of people, myself included, where Tesla insurance is not available, the costs to get the car insured are sometimes 3x the cost of a regular car.... Plus it's electric. I honestly dont ever see how an EV can grow in value. That's like almost saying your iPhone or Samsung phone will be worth more in a few years.. Tesla managed to gather a lot of hate, especially in Europe where competition is super strong and don't even get me started on Asia, so that's just not going to let the brand grow in appreciation. The stock is something different.

Until towards the end where they say maybe they should just keep it for 2-3 more years.

Hmm. Yes you’re right. It’s a bit ambiguous.

I don’t get this take? We have a 6 year old M3 and when we actually spend a half hour cleaning the interior it looks the exact same as the day we got it?

I searched a prominent car app. You could say that the app is a guru. That exact model is mid $20k in Texas. And I see lots of them on the road. Those and the truck.

OP thinks they've had the car for less than 3 years but its actually closer to 4.

Lighting a cigar and reading this on a big screen

Bro, it’s a Tesla. OP will be lucky to get to 5 years, let alone 6. Toyota Prius would still be going strong for 15 years.

Surprised he didn’t end with “still love the car”

Because it’s cheaply built.

That... And not having an openly Nazi CEO.

The brand is tarnished. Nazi owners will do that to a company.

So bizarre and business schools will study this for years. The EV market was driven by affluent democrats and yet he attacked his very base. Why any CEO (left or right) would want to alienate 1/2 the customer base is beyond me. There is a reason most CEOs don’t get into politics

This should be an expectation with any EV at the moment. I paid $16k for a year old Bolt EUV. Having said that. I personally won't even ride in a Tesla as a passenger and see anyone who owns a new one as a pretty awful human. Thoughts like that don't help your resale either.

Will somebody please think of the starving banks?

My 22 MYP, taxed, with options was like $89k on the monroney sticker. I bought it with 26k miles for $33k. There and winners and losers in this depreciation game.

My 2008 Volvo has 140k miles on it and still drives amazingly well. The body and interior is deteriorating faster than the motor.

Better to lease if you want to upgrade again in 3 years.

100% haha

Look at the VW ID4 and Ford Mustang Mach-E. I didn’t want a Tesla for multiple reasons, so went with the MachE. After teat driving, knew it was the one. Go with the AWD if you get one bc the power on this thing is incredible (and I own another car that is AWD V8 and Mach is faster). You won’t be disappointed. The Ford app is pretty good too, and blue cruise is convenient.

it's for wealthy guys only :(

Maybe you’re lucky. I’ve seen Tesla’s which really look worn after three to five years and I’ve seen rental cars much older form other makes which lasted longer.

Teslas are not different. Take the Carvana offer and run. Make it Carvana’s problem. They suck anyway.

TBH most vehicles depreciate 50% in that time frame. You saved money on maintenance and fuel. Let er’ go

It is BS. Carvana just offered me 38k for a 25 MYP with 2k miles.

You're also competing in the marketplace of ideas with driveable cancer. Stated another way, Tesla = Musk = NFW for a lot of sane people these days.

Depreciation on EVs in general is brutal. It’s particularly bad for Tesla. In my opinion, that’s partly for their lack of quality control and partly because of the damage Musk does do everything he touches.

I live in Hawaii, so with 405 miles of real world range, I'm not ever charging outside my house. You can look on Plugshare to see how many charging stations are available. In theory, the Mercedes charges way faster than the Model Y in terms of range per minute, the charging curve is pretty high even to relatively high states of charge, and the battery is huge. I would expect it to be a good road trip car as long as the supercharger access is good around the area you plan to go.

Most of them aren't open to non-Tesla EVs. I think it's a technology thing. There's 3 supercharger locations on Oahu and only 1 supports non-Tesla EVs. I think all new superchargers going forward support non-Tesla EVs (?) But definitely it's not the majority.

Could have started with that lol.

I have three cars, all Volvo, 1989, 1991,2000. I’d drive any of them anywhere.

It isn't degradation. It was getting in my car and it saying "lol your battery isn't going to charge anymore, better call us" - well, it was a code but that's the translation. So my brand new battery died 11 months into owning a brand new car, then my used replacement (because they won't give you a new one) died last month after 2 years. I will not be keeping this piece of shit even ONE DAY beyond the warranty of this third battery, assuming I am not on to my fourth by then. This is what it showed both times and is a death sentence for the battery. It is also lying it's ass off - it will NOT charge to 50%. It won't charge at all - and tesla tried to charge me to tow it to the shop the first time until I threw a massive shit fit. [https://www.reddit.com/media?url=https%3A%2F%2Fpreview.redd.it%2Fbought-a-model-3-brand-new-in-2021-within-a-year-the-v0-9q6vkdlu5p1g1.jpeg%3Fwidth%3D640%26crop%3Dsmart%26auto%3Dwebp%26s%3Dce8e4935449e3c29b6a2244e101b7d095068b3d0](https://www.reddit.com/media?url=https%3A%2F%2Fpreview.redd.it%2Fbought-a-model-3-brand-new-in-2021-within-a-year-the-v0-9q6vkdlu5p1g1.jpeg%3Fwidth%3D640%26crop%3Dsmart%26auto%3Dwebp%26s%3Dce8e4935449e3c29b6a2244e101b7d095068b3d0)

Leave it to a Tesla owner to not understand basic concepts.

Correct, currently more than 1/3 of locations are open to other brands, and that is rapidly increasing. Around me it seems to be the vast majority that are open to other brands. I’ve only encountered one Tesla-only location, and it was a mile away from another open-network supercharger. In Kentucky/Indiana/Illinois.

I mean you bought at peak market price when dealers/sellers could ask pretty much what they wanted. On top of that you bought from the most controversial car CEO of the modern era. How were you expecting that to end?

Oh, they're deep into politics alright. They just don't speak of it in public.

You can thank Elmo for that.

Fair value would be like 25 given a new one is 45

Your loss is my gain. I bought a 22 long range $25k

I’m driving an 8 and 11 year old EV, so sure, why would you sell? Also: Don’t believe anyting that comes out of Elon Musk’s mouth.

Dont worry, you will rent it as robotaxi soon.

So you mean Tesla is selling those in auction ?

"Appreciation assets” that billionaire said

Yes they're pushing functionally new cars into auction lots. Helps pump volume up but it kills profitability. Tesla isn't actually judged on their ability to earn money though so that's not really a concern

I just bought a 2022 Mustang Mach-E from the dealer with 29K miles for $26K with brand new tires and front brakes. Extended battery, AWD. It was $60K+ new. Your Tesla is holding up better than that. Trying to find the glass half full... ;)

You have seriously discounted the percentage of the population (that buy EVs) that hate super right wing nazis. Live and learn.

Who would have thought a car, with fascist branding and awful quality, would depreciate quickly? I certainly did.

Yeah. The leather isn't the best. As much as I try, it's cracking and starting to look bad. And it's been garage kept for the last 10 years.

Thanks.. how is Ambrocious?

I do agree with you about that and the stick price is not logical neither.

I bought my Telsa model S in 2017 with free supercharging, free data, and FSD for like 90k. I have 187000 miles on it and on paper, it’s worth about $7500 today. Think I care? NO! At least in my mind it is all about utility. Drive the hell out of your car. It is not investment. The bonus on that is that I only liability insurance on it. Car doesn’t owe me anything and I’m ready for a new one but at the end of the day, the best car is the paid off car.

Bro you got scammed by the world's richest man. Thank you for sharing your lesson so others don't make the same mistake.

I’m confused - why are you expecting to have driven a car for free for 3 years?!?!? You are not deducting from your expecting sell price the fact that YOU DRIVE IT FOR THREE YEARS?’ Jesus Christ this is dumb

Yeah wtf this is entirely normal. Even pre covid I bought my car about 50% off msrp at just under 3 years old off lease. Not sure what OP wants.

LOVE LOVE LOVE your name. I got something for them too. Yeah every one of that turds cars are shit .

You have to keep a car until it starts costing more in repairs than a new one would be. Otherwise, you have to lease.

Nazi tax 🤷🏾‍♂️

I'm not a big fan of Teslas and honestly would have guessed they depreciate more than ice cars, but that doesn't sound much different than the typical first 3 years of depreciation on most new cars. Especially now that so many are in the 60-80k range. My last 2 vehicles were new, but I normally buy 2-3 yr old cars because they're still very nice and you save a ton of money. Buying new is cool, but it definitely comes at a cost. My wife took her now 2.5yr old 80k SUV to the shop. She called and said "the dealership really wants to buy my car"......yeah, for 45k. Private sale would probably be around 50k. So pretty much the same boat as you're in. That's just how it goes with buying new.

Brother just bought a 2023 Model Y for 29k with 35k miles at a Tesla Dealership

Had my Volvo for 25 years.

Well, that truly sucks - definitely do not go to Tesla stockholders thread - bastards banned me for making a dad joke… they’re a little touchy over there!

This isn't really unusual: Typical New Car Depreciation Breakdown Year 1: ~20% loss Year 2: ~10-12% additional loss (total ~30-32%) Year 3: ~10-11% additional loss (total ~40-43%)

You poor thing

Musk’d

Well, if I had millions and millions $, I would get one or two of these. They appreciate quite nicely. Ferrari F40 / 458 Speciale Porsche Carrera GT / GT3 RS Lamborghini Miura

The only sensible thing to do is to keep the car and don’t keep feeding the mill.

I've always though anything more than 4 was pretty bad.

If I was to ever consider an EV, I think I'd wait for the Slate. Still it's too expensive compared to what I could get with an ICE equivalent.

Lease ftw

I agree. I am selling my 2023 MYLR AWD with 12k miles and the best offer from Carvana and Carmax is $29k. My car is the same trim but 1 year newer and with less miles. I bought mine for $48k minus the $7500 federal credit.

fuel toothbrush knee retire six versed late recognise close aware *This post was mass deleted and anonymized with [Redact](https://redact.dev/home)*

Tesla has been caught lying about accrued mileage, they've lied about range, this has been verified in independent testing, so I'm not surprised if they lie about battery "health". Tesla fans don't understand how easy it is to make a screen tell people pretty much anything Tesla wants you to see.

So don't sell...

Because their Tech Lord told them to.

Are you over or under on the loan?

According to Gemini: On a $63,000 new car, you should expect to lose approximately $20,000 to $28,000 in value over the first three years. While individual models vary wildly, the "standard" depreciation curve suggests a car retains roughly 55% to 65% of its original value after 36 months. Seems like pretty standard depreciation no?

Wow. Imagine believing that buying a car is an investment that will grow in value over time

\*Didymus (Didumis that?)

I'm actually shocked it's worth that much. I assumed it would be worth well under 30k. Seriously, who out there is buying tesla's? Musk alienated all of their typical customers.

Maybe he’s Canadian?

This is the only possible answer here. Because the Y performance was like 63 in 22 not the LR.

Isn't it common knowledge that buying an expensive new car is a good way to throw away a lot of money when you can just buy used at a fraction of the cost?  Or is that not a thing that most people know?

Why don’t you just drive it? It’s a sunk cost

I hought a used Roadster sport in 2020 for $65,000, and it is worth considerably more now.

I work for a very large use car dealer. It's not just Teslas. The used car market is a wreck after Covid. It's not getting any better ether. Wait until 2026. People are beyond buried in their cars. Honestly people don't have any idea about the value of a dollar, how long these loans are actually for, how much interest they're paying and depreciation. It's sad. Most people are impulse buyers but even those who are not still end up surprised their vehicles aren't worth shit. Mercedes, BMW, AUDi, try pricing those too. You want less sticker shock buy an older vehicle or a Honda Civic

Yeah but they’re a great buy used so buy used

Ambrosius is fine, thank you for asking! Now if everyone would be as kind as to throw down their weapons, I’ll see to it that you are treated fairly.

I’m in the same bath and I think your math is off. Cars.com has 2022 LR Ys with less than 30k miles going for $25k, so the private purchase price is probably around $28-30k. Just sucks. And with HW3, we can’t even get the almost FSD. I’ll never buy another one again. Who are the fans that keep buying these things? Or is Tesla just a future Nissan Altima? They had to move down market with their target buyer the last few years, so it’s just a matter of time until they are driving down the highway with a bumper missing, on a spare tire… 😂😁😅😂

Unless it's a classic, the only car that appreciated was my 77' VW Superbeetle!

you lose 50% of the value in the first three years on pretty much every car which is not absolutely high end! Once you hit rich collectors territory things look differently though!

I used to like Teslas until Elon Musk came out of the closet as a Kremlin Nazi. I will never buy a Tesla now.

Trade in value is closer to $23,500. You’ll get a little more selling it private party - maybe $25k-26k. You lost $40k in value and probably spent more in increased insurance cost than you saved in fuel. Let’s be honest. This is a BS post to make people think the depreciation isn’t that bad.

the depreciation you described actually seems about right for the time you owned the car. Not sure what the issue is.

Never buy a Tesla, or any EV. Always LEASE.

You won't get $30K for it unless there is $10K of cash in a briefcase in the Frunk lol

You are driving a computer and get shocked when it hold its value worse than a smartphone. Teslas are held together by glue. I would never buy a new telsa let alone a used one.

I see them all day long at 50k miles for 25 grand Take the Carvana offer if you don't want to drive it until the wheels fall off

Cars are never considered assets, so they depreciate. Teslas of course are the worst for used markets/resell due to the amount of incentives out there for brand new, including the company itself rapidly changing pricing whenever they want. They’ve done this to their own brand/customer. Perhaps you’ll learn your lesson and never buy a brand new one again.

This is why you either lease a new one or buy a low-mileage used one.

I've owned four different Teslas now, and all have been purchased below 25k. The depreciation is insane on these cars. I own a repair facility and just recently purchased a 2019 Model S that was lightly wrecked in the front left. I bought this one for a fraction of the price I paid for the other ones. Granted, I'll have to put in my time and some money to get it fixed up, but I'll feel really good about the amount I have invested in it. I have sold my other ones since, and I actually thought I would be out of Tesla for a while. This thought lasted 1.5 months....

I know the feeling my friend. I bought my MYP just a few months after yours for $72k and within a month or two they dropped the price on new like $10k-$12k (can't remember) and then they dropped it again. So the majority of our depreication was due to the big price cuts right after we bought ours and since then it's basically just normal depreciation. Where it sucks is we got spoiled with Tesla's not really depreciating much at all for many years because new kept going up and offsetting our depreciation. Sometimes you could buy new and drive for a few years and sell it for virtually what you paid for, but not anymore. :( I know it doesn't help you any, but several years ago I bought a brand new VW Toureg for $70k and traded it in 2 years later for $24k so depreciation can be nasty as hell with cars and it's all about supply and demand.

I’ll never one again, only lease. Paid $54k plus taxes for a 2019 MY3 in 2022, and trust me this was the cheapest I found at that time(peak). Sold for $17k after 3 years

Dude your post is so wild that it showed up in a Benzinga article and ended up in my investments newsfeed. The funniest part is that you thought of Tesla as an investment. ALL cars are financial liabilities. Any research would have shown that all higher-prices EVs are especially prone to this, and that out of higher-priced EVs, Tesla's are even more prone to this in the recent year. Just look at how much the Mercedes EQS tanked in value, and it's a much better built car from a much more established and luxury-segment maker with no recent controversy. The *only* ones that are investments are proven (and usually extremely expensive) collectibles like mint classic European sports cars. Thanks for the laughs this morning 😂😂😂

Well cars depreciate, I had my 2018 Model 3 from new, with 280,000 miles and it still in great condition. It was a good investment but I'm not looking at resale value.

Im a tesla owner, and this post had me ROLLLING.

Maybe it’s Canadian dollar. Carmax just offered me $27k for my 22 MY LR with 30k miles. There’s no way a 22 MY gets $37k, unless maybe it got zero miles.

Yes. What happened to the old "a car loses 1/2 its value after the 1st 2 years"? That's how it always was. Sounds like Tesla is going back in time - how innovative.

Either way, the practical conclusion is not to trust his pronouncements on anything.

Mass produced 60’s American cars worth considerable more than when new. Weekend car shows are full of em.

ah, yes, the convertible mustang nana bought in 65 for 5k can be sold for 60k now in absolute pristine condition. Never mind that 5k invested conservatively for 60 years would be worth 3x that. I have some whole life insurance to sell you.

> I would almost argue the greatest innovation was the super charger network. I've thought for years that eventually Tesla would get out of the vehicle business and instead focus on the supercharger business.

Wish they made an EV version of the 240 wagon

For EVs? That definitely seems true. Probably also with mid-level cars like BMW/Mercedes/Audi to a degree. But 50% is exaggerating for most cars (especially ICE) in 3 years. EVs tend to follow the curve of luxury vehicles rather than "normal" cars. Perhaps because cars that are heavily leased flood the market 2-3 years after a lease "at once".

You ever owned a car before ? My new 52k e class lost 18k in 1 year. My model Y has only last 10k in 2 years. Cars depreciate, it's normal

Or those sad Cyber truck Foundation owners that are down 60%

turns out no one did.

Take the CarMax offer and be done. It’ll be lower next week.

Think Elon's roman salute had any significant impact on the brand value? How about calling his daughter "infected by the woke mind virus"? Gutting the nation's agencies under DOGE?

Nikola Tesla deserves better than this.

You just need to convince someone that your old car is worth $60k, even though they could get a new one for $44k.

your ev can't hold value because tesla sells new car significantly cheaper, as for now new tesla model y is 40k, 45k, 49k, and 57k. (or everyone was getting $7500 so that car loses 7500 from the second they bought the car.)

You can blame this on Elon. He has totally tanked the brand with his divisive antics. As a result, sales have plummeted and used car prices have gone through the floor. How did Tesla reward brand trashing? By giving him a huge pay day in the form of a bonus of coarse. I personally would love to trade my MY2023 in for a new Juniper but I can't really justify investing in Tesla any more. Its like throwing money away.

Usually a "nobody" or "everyone" call is far off the mark. However, the politics of Tesla ownership have doubtless driven demand down. The left used to be the early adopter crowd. Musk alienated them. But MAGA wants to consume oil In Your Face, so they aren't interested in electric cars. There will still be plenty of exceptions, but Musk really destroyed much of the symbolic appeal of his cars. There are still people who choose cars for entirely utilitarian reasons, or other reasons.

I bought a high-demand Kia Telluride in 2021 for about $41k. Less than four years later, Carvana, CarMax, and KBB all put it around $21k. That’s roughly the same percentage drop as your 2022 Model Y. It feels awful, but it’s not uniquely a Tesla issue—it’s what happens when you buy near the peak of an overheated market, which was very much the case in 2021, 2022, and even into 2023.

This is in the US I assume? Where I think you restrict EV imports from China? So really that re-sale price may be inflated/subsidized through import restrictions/tariffs? Because overseas, with all of these Cinese EVS, Tesla is actually just a status symbol, over priced in terms of value for money. Sell it. Take the cash and put it into your retirement. Lesson learned.

Let me put it this way My son owns a 2024 Tesla Model Y long range AWD. Two weeks ago on the way to my house the Tesla got body slammed by a deer Tesla Collision Boston has the second repair estimate at $21586 Progressive Insurance want to total the vehicle You would think a 2024 model Y would be worth at least $34k. My son said if it's totaled then it's the last one he will get. By the way. The vehicle does not detect objects that will strike from above like tires that fell off a vehicle and deer leaping

I mean , had Musk not gotten into politics, he wouldn't be so hated and his cars would still have value. How was OP to know this? How was OP to know that tesla owners would attack cars that Musk built because of politics.

I'm surprised it's worth \~$35k. I have one and was under the impression it was worth $22k

Nazi mobiles depreciate much faster

I didn’t even look at a Tesla buying new in 2023 because I could see the writing on the wall that Musk could become a Nazi. And then he did.

Hey, I’m sorry. You were a bit misguided. High depreciation is normal for any car, and worse for EVs. No one really thought Tesla would undercut their prices nor that Musk was on the path to destroy his reputation. At least you didn’t buy a Cybertruck?