Here’s How Much A 3-Year-Old Tesla Is Worth Today – TopSpeed

Tesla deserves credit for making people talk about electric cars in the past couple of decades. Its range of electric vehicles, including the Model 3, Model Y, Model S, Model X, and most recently the futuristic Cybertruck, all offer a unique combination of performance, practicality, technology and sustainability. The success of Tesla cars made legacy car manufacturers, be it American, German or Japanese, take notice and focus on building good electric cars of their own.

Like it or not, there is no denying the fact that electric vehicles come with a long list of benefits. Apart from not emitting any harmful emissions, electric vehicles are also cheaper to run and maintain with fewer mechanical parts compared to a gasoline-powered car. That also means manufacturers can free up more space inside the cabin for occupants and storage, making it quite practical. For those who love driving, electric motors are capable of producing insane amounts of torque right from the get-go, leading to soul-stirring acceleration. Furthermore, the battery pack in most modern EVs is placed under the floorboard, taking the center of gravity closer to the ground and hence leading to better handling in the corners.

There is one downside, though. The whole electric technology is fairly new and that makes it expensive. This is apparent in the higher upfront cost you have to pay when purchasing a new EV. On the flipside, the depreciation of an EV is quite steep compared to an equivalent gasoline-powered car. So, if you are looking for a used electric car, a 3-year-old Tesla would make a lot of sense.

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2021 Tesla Model 3

Average Used Price: $21,000 – $30,000

The Tesla Model 3 is the most affordable car in the manufacturer’s lineup. Over the years, the Model 3 has proved to be a good entry-level electric car with its mix of performance and affordability. The Model 3 is available in multiple trim levels, including Standard Plus, Long Range AWD, and Performance.

According to Kelley Blue Book (KBB), the average price for a used 2021 Tesla Model 3 with less than 30,000 miles on the clock starts from as low as $21,000 and can go up to $30,000, depending on the trim and condition of the vehicle. For reference, the recently updated for 2024 Tesla Model 3 with refreshed exterior styling and a handful of updates on the inside costs $40,630 and can go up to $54,630. If you can a find used one below $25,000, you’ll be eligible for a used clean vehicle credit of up to $4,000.

Powertrain Specs

As the table suggests, even the base version of the 2021 Tesla Model 3 packs in more than enough performance for a car of its size. Whereas, the aptly-named Performance variant provides absolute kick-ass performance at a relatively accessible price point.

Here’s How Much the Tesla Model 3 Depreciates after 3 Years

According to CarEdge, you can buy a 2021 Tesla Model 3 for about 55-percent of the cost of a new model and save up to $18,286. If you plan to use it for 3 years, expect it to lose about $6,213 in depreciation.

Pros

• Great performance at accessible prices.
• High on technology.
• High on safety.

Cons

• Build quality isn’t the best.
• Less usable range on highway.
• Misses out on some basic features like a blind spot monitor.

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2021 Tesla Model Y

Average Used Price: $29,000 – $37,000

The Tesla Model Y is the most accessible crossover/SUV in Tesla’s lineup. It shares about 75-percent of its components with the Tesla Model 3 but offers a higher ground clearance and seating position compared to its low-slung sibling. It also offers better practicality and space with a seven-seater option. The mid-size crossover was primarily offered in two trims, including Long Range AWD and Performance AWD. Tesla also offered Standard Range RWD trim for a short period of time before discontinuing it.

According to Kelley Blue Book (KBB), a used 2021 Tesla Model Y with less than 30,000 miles on the clock is available from $29,000 to $37,000, depending on the trim and condition of the vehicle.

Powertrain Specs

The Tesla Model Y comes with a good balance of performance and range to suit the needs of the typical American family.

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Here’s How Much the Tesla Model Y Depreciates After 3 Years

In the case of the Tesla Model Y, you can get a 2021 model at about 54.5-percent price of the new model, helping you save about $20,503. Expect it to lose around $7,750 in depreciation after three years.

Pros

• Brisk performance for a mid-size crossover
• Plenty of room in the first two rows
• Plenty of range

Cons

• Optional third-row seats are not very usable
• Stiff ride on the Performance model
• Misses out on Android Auto and Apple CarPlay

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Tesla Model X Price, Configurations, And What You Get For The Money

The Tesla Model X was the first three-row production electric SUV to hit the market, and here’s what you get with it in 2024.

2021 Tesla Model X

Average Used Price: $45,000 – $59,000

The Tesla Model X was the carmaker’s third offering after the Roadster and Model S. The SUV was and still is quite a unique offering with a seven-seat configuration, plethora of technology, performance, and lastly, the falcon-wing doors for the rear passengers. Back in 2021, the Tesla Model X was offered in two trims – Long Range and the performance-oriented Plaid.

You can expect a used 2021 Tesla Model X with less than 30,000 miles on the odometer to cost you above $45,000, depending on the trim.

Powertrain Specs

The 0-60mph acceleration figures are absolutely incredible for a seven-seat electric SUV. In fact, the 2.5 seconds for the Plaid model is better than a lot of modern-age supercars.

Here’s How Much the Tesla Model X Depreciates After 3 Years

Despite being a luxury electric SUV offering, the Tesla Model X has been able to hold its value quite well compared to other electric SUVs on the market. According to CarEdge, you save around $39,000 by purchasing a 3-year-old Tesla Model X. If you plan to own the electric SUV for three years, you can expect it to depreciate by around $17,688.

Pros

• Impressive performance for an SUV of its size.
• Plenty of usable range.
• Quite practical with space for seven occupants and plenty of storage area.

Cons

• Immense glass area lets more sun and heat inside the cabin.
• Misses out Android Auto and Apple CarPlay smartphone integration.
• Not as luxurious as other luxury SUVs in the segment.

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Here’s How Much A 10-Year-Old Tesla Model S Is Worth Today

Older electric vehicles can scare people away, but Tesla has proven to be a reliable choice over time and the pricing reflects that sentiment.

2021 Tesla Model S

Average Used Price: $54,000 – $62,500

The Tesla Model S is the carmaker’s flagship offering that has been on sale since 2012. Over the years, it has managed to go from being an underdog to setting benchmarks for the segment. Its sleek and understated design is anything but indicative of the sheer performance it packs, especially the Plaid version. The 2021 Tesla Model S was also offered in a Long Range trim along with the performance-oriented Plaid.

You can expect a used 2021 Tesla Model S with less than 30,000 miles on the odometer to cost you somewhere between $54,000 and $62,600, depending on the trim.

Powertrain Specs

As the table suggests, the performance figures are mind-numbing even by today’s standards. What’s more impressive is the range, though. Back then, the Long Range became the first 400-mile electric vehicle in the world.

Here’s How Much the Tesla Model S Depreciates After 3 Years

Buying a used 2021 Tesla Model S will help you save about $31,166 compared to buying a new model. You can expect it to lose about $17,143 in depreciation for an ownership period of three years.

Pros

• Neck-snapping performance.
• Excellent range.
• Good amount of cargo space.

Cons

• Not as luxurious as similarly priced sedans.
• Yoke-styled steering takes time getting used to.
• Build quality isn’t the best.