It is no surprise that the price of used cars is very high right now, but things might get worse before getting better. But when it comes to buying a used 2019 Tesla Model 3, you may as well purchase a new Model 3 from the factory.
Buying a used 2019 Tesla Model 3 is expensive right now
One user on Twitter (The Kilowatts) priced out the trade-in value for his 2019 Tesla Model 3 Long Range all-wheel drive model. With the deep blue metallic paint and Full Self-Driving Capability, Tesla offered a trade-in value of $67,500. This Model 3 has 15,000 miles on it currently. Tesla no longer offers the Long Range model.
Using the Tesla custom order feature, buyers can price out a brand new 2021 Model 3 with the same specs. The 2021 Tesla Model 3 Performance version in deep blue metallic paint and FSD comes to $67,990. No matter how you slice it, that’s insane. A car with 15,000 miles is the same price right now as a brand-new Tesla with zero miles?
Some buyers don’t want to wait for production or don’t want to risk not getting a Tesla due to various constraints on the industry. If someone wants to pay extra for a used Tesla Model 3, now is probably a good time to do it.
How much does a used Tesla car cost?
Tesla avoided the semiconductor chip shortage for a while, but the drought eventually impacted production. 2021 Tesla Model 3 vehicles ordered today have a scheduled delivery date of seven to 11 weeks. Right now, you can view used Tesla inventory on the website.
But the 2019 Tesla Model 3 isn’t alone in this phenomenon. There is a 2020 Model S Performance AWD option with 11,178 miles on it for sale for $105,000, plus a $2,500 transportation fee. That’s a measly $1,478 a month! A 2018 Model S 100D Ludicrous Performance AWD with 48,281 miles is listed at $90,500. That’s only $1,274 a month. If you were to purchase a Model S new, the Long Range option is $79,490. The Plaid model starts at $124,490.
So essentially, the price of a used Tesla is right up there with the price of a new Tesla. The prices vary based on the model, mileage, and other features like FSD, but that’s still quite an anomaly.
The Toyota 4Runner and Kia Telluride would like a word
Right now, the 2021 Toyota 4Runner is one of the more popular vehicles on the market with low inventory. According to Jalopnik, one user on the Toyota 4Runner subreddit found a New York dealership marking up the popular SUV. Millennium Toyota in Long Island marked up a 2021 Toyota 4Runner TRD Pro, which had an initial cost of $52,753. Due to “limited availability,” the dealership added $23,000 to the price, bringing the total to $75,753.
Another 2021 Toyota 4Runner TRD Pro in the Lunar Rock color had an MSRP of $52,569. The note on the window sticker has “+$30,000” due to limited availability bringing the price up to $82,569. The Kia Telluride saw similar markups. A 2021 Kia Telluride SX SUV was listed on a dealership’s website for a final price of $78,995. The retail price is $53,505, with a markup of over $25,490.
So it seems Tesla is playing the supply and demand game and might be winning. If you want a 2019 Tesla Model 3 right now, you are going to pay for it. If you desire a 2021 Tesla Model 3, place the order now before delivery dates get pushed to 2022. There’s always a chance that happens anyway, given the tumultuous market conditions.