Buying a used Tesla isn’t a bad idea if you’re looking for an electric vehicle. If you want to experience the brand’s full automated driving technology but don’t have deep pockets for a brand-new model, getting a pre-owned one is your second-best option. Here, we’ll take a look at the two used Tesla models people can’t get enough of so that you’ll have a general idea of what to look for when shopping for a used one.
According to a recent iSeeCars report, the Tesla Model X and Model 3 are the two models selling like hotcakes. The report pulled data from over 1.2 million new and used car transactions this past January. The Model S used to be the fastest seller, but it’s an aging vehicle with a lack of regular software updates. As consumers shift their focus to luxury SUVs, the Model X crossover has been attracting more attention. But for consumers on a tighter budget, the Model 3 sedan is a better choice.
Tesla Model 3
The iSeeCars data shows the Tesla Model 3 took 31.8 days to sell on average in January, compared to 38.9 days for all other vehicles in the study. Given that the Model 3 debuted only in 2018, the used car market is relatively small for this model. And even though the Model 3 isn’t cheap compared to competitors, demand for it hasn’t cooled.
During the pandemic last year, luxury sold better than lower-priced vehicles because deeper-pocketed buyers tend to remain confident about buying cars during economic downturns. The lower interest rates also encouraged people to borrow to buy more expensive vehicles that would otherwise not be affordable to them during normal economic conditions.
Tesla Model X
It took only 31.6 days to sell a used Tesla Model X, which is 18.8 percent faster than the average of all other vehicles, selling in 38.9 days. The Model X is an all-around excellent EV boasting Tesla’s latest safety features. They including automatic emergency braking, rollover protection, and a solid battery pack mounted under the floor, reducing the risk of side collision damages.
Debuting in 2015, the Model X offers a greater supply of used vehicles than the younger Model 3. But the former sells for $66,361, compared to the latter’s $40,744. The Model X generally attracts wealthy buyers who are environmentally conscious or want a luxury SUV plus the advanced technology of an EV.
Why buy a used Tesla?
It might be tempting to save up for a brand-new Tesla instead of opting for a pre-owned one. After all, there are risks involved in buying a used car. However, a used Tesla offers many benefits.
Tesla’s constant price changes
Tesla is notorious for changing its prices. In fact, they fluctuate so much that it annoys many buyers. Imagine purchasing a new Tesla only to find yourself losing thousands of dollars the next morning, not counting the standard depreciation rate. Used Tesla EVs usually have settled in price, so the asking price you see is a better reflection of the market.
Tesla makes high-quality EVs
Because Tesla makes cars with durability in mind, its used EVs might have high mileage and a few scratches. But they generally don’t fail as long as you take good care of them.