Buying A Used Tesla Will Cost You A Small Fortune – Sometimes More Than New
If you’re looking to get your hands on a used Tesla now is probably a good time to consider looking elsewhere following the news that used cars are costing more than new ones, depending on your requirements.
According to a new Electrek report, some Model Y cars in particular are costing more than they would if they were bought brand new. This comes as the used car market as a whole continues to be inflated.
New cars are hard to come by thanks to component shortages worldwide, causing used cars to become more desirable and prices to become inflated.
For example, this 2020 Model Y with over 30,000 miles on the odomoter is listed for $1,000 more than if you were to order the same configuration brand new:
The only benefit is that you can get it now versus waiting for 6-9 months for a new one.
And that final point is the important one. Buying a new car right now means waiting up to a year, sometimes more depending on the configuration being bought. However, choosing a used model can get you into a car immediately — if you’re willing to pay. This is far from a problem unique to Tesla, but the desirability and long lead times do make for a perfect storm right now.
What is most impressive is how the vehicle gain in value. Depending on when it was purchased in 2020, the vehicle is likely selling between $6,000 and $10,000 more than what it was purchased for brand new about two years ago.
While buying a used Tesla is going to cost a lot right now, those who already have them could do worse than sell them and upgrade to something else — although that might need to be a non-Tesla model because of the problems we just outlined.