Tesla Model 3 Resale Value: Do They Hold Their Value? What To Know
Source: Flickr
The Tesla Model 3 is one of the most popular choices for those who are interested in a vehicle from the iconic brand, offering a mid-size sedan selection for a slightly lower price than other Tesla selections. If you’re interested in this vehicle, it’s helpful to consider what you’ll get from it if you want to sell it. What is the expected Tesla Model 3 resale value?
The longer a vehicle can retain its value, the more you’ll be able to get from the car when selling it and the less you will have to spend on repairs. Ideally, you should invest in a vehicle with an excellent resale value. Keep reading to learn more about the depreciation rate of the Tesla Model 3 and other helpful information about the popular car.
What Is The Depreciation Rate of a Tesla Model 3?
First, let’s take a look at the Tesla Model 3 resale value. The vehicle has a semi-bumpy experience in value, as it tends to ebb and flow over time. It’s good to familiarize yourself with a typical timeline for the lifespan of the Tesla Model 3.
According to caredge.com, here is the approximate depreciation of the Tesla Model 3:
** **
As time goes on, the value of the vehicle will drop significantly.
The depreciation of the Tesla Model 3 will be slow at first. However, as time goes on, the drop will become more significant. However, the Tesla Model 3 does a decent job at retaining value for the first five years so try to sell within that time frame if possible.
DOWNLOAD THE FREE APP
The CoPilot car shopping app is the smartest way to buy a car. Get a curated list of the best cars for sale in your area, as well as notifications if a similar vehicle is listed nearby at a lower price. CoPilot is the smartest way to shop for used cars.
How Much Will Tesla Model 3s Resell For?
A Tesla Model 3 is no cheap investment. As stated above, a typical Tesla Model 3 will cost around $60,000 at the start of the purchase. It will depreciate around 2% in the first year of ownership and end up at a 22% depreciation in time.
By the end of the decade, a typical Tesla Model 3 will depreciate to around half of the price point. If you want to get more than 50% of the original price point with the Tesla Model 3, you must sell it before the first decade of ownership is up.
What Is The Best Year To Purchase For Value Longevity?
If you want to invest in a Tesla Model 3 and maximize your resale value, you want to purchase the best years available on the market. Luckily, there are three that stand out as exceptional options for those who want to be as careful as possible.
Here are the best choices for the Tesla Model 3:
- 2020 Tesla Model 3
- 2021 Tesla Model 3
- 2022 Tesla Model 3
These are the best from the available Tesla years.
These vehicles will need far fewer repairs over time than their counterparts. Generally, it’s better to go with newer years when investing in any Tesla because they are more updated and more streamlined than previous creations.
What Is The Worst Year To Purchase For Value Longevity?
On the other hand, there are also some years to consider that are lacking in the Tesla Model 3 resale value. We recommend avoiding these selections if you want to make the most of every dollar.
Here are the worst years for the Tesla Model 3:
- 2017 Tesla Model 3
- 2018 Tesla Model 3
- 2019 Tesla Model 3
These might be cheaper, but they won’t be worth it in the long-term.
Some of the most common issues in these years included quality issues, glitches, and severe faults with reliability. Unfortunately, all these will impact the longevity of the car and thus the resale value.
Which Tesla Holds Its Value Best?
Maybe you want to invest in a Tesla but only want to purchase the best for your money with resale value. If that’s the case, you might not want to go with the Tesla Model 3. What are the winners when considering resale value over the long term in the Tesla?
According to iseecars.com, here are the Teslas that are best for resale:
- Tesla Model Y
- Tesla Model X
- Tesla Model 3
- Tesla Model S
These are the best in the Tesla lineup.
As you can see, the Tesla Model 3 is on this list, but it isn’t at the top. If you want a higher resale value in your Tesla selection, you would be better off going with the Tesla Model Y or the Tesla Model X for your driveway.
TESLA MODEL 3’S STANDARD RANGE VS. LONG RANGE
If you’re in the market for a Tesla Model 3, one of your biggest decisions is which version to buy: the standard range or the long range Model 3.
Do Teslas Generally Hold Their Value?
The Tesla Model 3 offers a decent resale value after the first half a decade of purchase. Unfortunately, Teslas start to decline significantly as you close in on a decade thanks to the addition of the battery. Think carefully about how long you will own the Tesla before buying if you want to resell it.
Overall, Teslas are a decent choice if you want an electric car with an enticing resale value. It’s worth a consideration on the market.
AI-ASSISTED CAR SHOPPING
Never miss out on the best car, never overpay, and never get taken advantage of. Download the CoPilot app to see the magic of AI-assisted car shopping.
Final Thoughts
All things considered; the Tesla Model 3 resale value is decent compared to other electric car selections on the market. However, like all-electric cars, the battery will start to give out in time, thanks to the design.
We hope this information was helpful! Knowing about the resale value will help you make the right decision for your next car, especially with something like a Tesla.
Get a Curated List of the Best Used Cars Near You
The CoPilot car shopping app is the easiest way to buy a car. Tell us what you’re looking for and we’ll search the inventories of every dealership in your area to make you a personalized list of the best car listings in your area.
Only looking for newer models? CoPilot Compare is the search engine for nearly-new cars. Only see cars five years or newer with low mileage — CoPilot Compare is the best way to find off-lease, early trade-in, and CPO cars.
The best part? CoPilot is built using the same technology that dealerships use to buy and sell their inventories, so we have more info on each vehicle than competitors. CoPilot doesn’t work with dealerships, so there are no sponsored posts or other shady practices — just the most info on the best cars. Check out our About Us page to see how CoPilot works.
