Used Maseratis depreciate so quickly that they’re practically a punchline. The young car enthusiast with an Instagram handle in his rear window, flexing his Quattroporte like it’s still worth six figures? Classic. But jokes aside, Maseratis have always been a hard sell in the used market. Their reputation for questionable reliability, expensive repairs, and a limited used buyer pool means they drop in value fast. But this year, one brand is outpacing even Maserati in the depreciation race: Tesla.

Tesla depreciation leads the pack

According to iSeeCars, Tesla lost more value than any other automaker over the past year. The average price of a 1-to-5-year-old used Tesla dropped 13.6% ($5,013) year-over-year. That’s even steeper than Maserati’s 10.6% ($5,208) decline.

And it’s not just one Tesla model tanking—it’s the whole lineup. The Model S, Model Y, and Model 3 are all among the top six biggest losers in used car value . The Model S dropped 16.2% ($9,509), while the Model Y took a 15.9% ($5,927) dive. Both dropped quicker than the fastest-depreciationg Maserati. That would be the Levante, which lost 13.7% of its value in one year ($7,287).

For context, the average used car only lost 0.8% ($239) in the same time frame. Gas and hybrid models stayed almost completely stable, dipping just 0.5% .

What’s behind Tesla’s resale value collapse?

A few things are working against Tesla right now. The first is simple: new Tesla prices are falling, dragging used values down with them. Tesla has slashed prices multiple times, making it harder to justify paying top dollar for a used model .

Then there’s market saturation. Early adopters and EV enthusiasts have already bought in, and now the pool of buyers willing to gamble on the current EV ranges with the current charging network is shrinking. Combine that with high interest rates, and used EVs are piling up on dealer lots.

And let’s not forget EV buyer hesitation. Consumers are wary about battery degradation, repair costs, and charging infrastructure, all of which impact resale value. Tesla may have once dominated the used EV market, but now buyers have options—from legacy automakers to upstart brands like Rivian and Lucid.

Is now the time to buy a used Tesla?

If you’re in the market for an EV, a used Tesla might actually be a steal. As iSeeCars Executive Analyst Karl Brauer put it, “It’s not easy to find a great deal in today’s used car market, but if an electric vehicle can serve your personal transportation needs, most used models have dropped substantially in cost over the past year.”

Some older Teslas even come with free Supercharging for life, making them even more of a bargain. If you can find one with that perk, you could save thousands on charging over the years. Tesla’s resale value might be crashing, but for savvy buyers, that could mean the perfect time to pick one up—just don’t expect it to hold its value like a Toyota. Or even a Maserati.