Considering the rapid advancement of technology, it’s a good question to ask: Do Teslas hold their value? Most Tesla models will last 500,000 miles or more. This is an incredible achievement for a vehicle that costs over $70,000 new. But there is one downside to owning a Tesla: it doesn’t come cheap. In fact, it will cost you nearly $80,000 for a base model. So, when it comes to maintaining its value, buying a used Tesla is a much better deal.
In a recent study, a Tesla Model S was worth nearly three times as much as its predecessor, the Chevrolet Volt. These cars were also updated multiple times since leaving the factory. That’s an important factor because Teslas are constantly getting new software and hardware. They also hold their value better than other luxury cars. This is good news for the company and its future. But do Teslas hold their value? Hopefully!
In the study, the research team used data from numerous sources to determine the value of the Model S. Among these sources, they scraped listings of certified pre-owned cars on automaker websites. They then built a regression model, incorporating a categorical variable for Tesla. Its results aren’t necessarily indicative of how a particular car would depreciate in the future. But this analysis is an important step towards determining if Teslas are a good buy. The article includes more information than the original study.
While many electric vehicles depreciate over time, Teslas have the best resale value. Used Teslas can cost as much as new ones, and wait times can be quite long. As long as you take care of the car, it will retain its value. That’s a win-win situation for both you and the company. And the best part is that Teslas are still a good investment!
When it comes to car prices, the Tesla brand is still the best-selling electric vehicle in the world, though several companies have overtaken the company in some markets. Despite recent growth, Tesla vehicles hold their value extremely well compared to other types of vehicles. The company uses advanced technology and premium materials in their creation, which increases their value each year. While other types of vehicles depreciate faster, the Tesla brand is a different story.
When it comes to resale, Tesla has a great program for used cars. Used Tesla cars are much more likely to be stolen than new ones. As a result, they may be a better investment over time than buying a used car. In addition to this, Tesla also keeps a vast inventory of pre-owned cars. If you can’t afford a new one right now, consider leasing a Tesla instead. It’s the most affordable EV on the market today, and it has great features, range, and a charging situation that rivals any gas-powered vehicle on the road.
While some people may be skeptical of a used Tesla, they are considered to be a good investment. Their price may decrease in a few years, but it will definitely increase in value as batteries degrade over time. The Tesla Model 3 has a base price of $37,990. A used Tesla, on the other hand, will decrease in value by about 40% over the course of five years. If you plan to sell the vehicle, the battery will lose about half its value.
A second downside to buying a Tesla is the cost of maintenance. Many people choose the high-range model, but it’s still possible to drive a Tesla for long distances. Even though Teslas are expensive, the initial warranty is one of the best in the industry. Maintenance costs aren’t too bad – they’re around $300 to $500 a year. But compared to the high-maintenance vehicles sold by other companies, the costs aren’t outrageous.
Despite the high price tag, the Model X is one of the most expensive Teslas available. A long-range Model X costs $119,990, but delivery dates may be six months out. And Teslas have depreciated less than the market average for several years. However, 2017 Tesla Model X models can still be found for $71,300 in used inventory. Model X models have slightly less range than their older counterparts but still reach speeds of 155 mph.
Lastly, don’t buy an electric car based on the operating range. Models with a 100-mile operating range are prone to losing the most value after three years. In fact, the Nissan Leaf is adding a longer-range Plus model to its lineup this year. And the Kia Soul EV is slated to be redesigned for 2020. So, if you’re considering buying a Tesla, make sure you research the resale value before making a purchase.