Now might be a good time to consider buying a used Tesla since used car values have stabilized and more cars are entering the market. Tesla models are currently depreciating more than other types of cars, which presents a great opportunity if you’re in the market for an EV or a used electric vehicle. By purchasing a Tesla now, you can get “more car for your money” compared to other brands.
Although some other car brands’ prices are decreasing, they are not dropping as fast as Tesla’s. Tesla is currently experiencing a quicker depreciation rate even though it’s considered a high-quality car that many people like. It’s seen as the benchmark for an EV, and if you can get a good deal on one now, it might be considered an arbitrage play.
So why is this happening? New cars affect the market for used cars, especially for the same brand. Depreciation is the comparison between the cost of a new car and the cost of a used one. If a new Tesla is discounted, it will also affect the price of a used Tesla.
New Teslas are now becoming more affordable since Tesla can reduce its new car prices more than other manufacturers due to having a cheaper production line. They’ve been around for longer and have more tooling amortization, allowing them to discount their new cars more. While some other manufacturers are increasing their new car prices, Tesla is decreasing theirs. As a result, used Teslas are now more of a bargain compared to other brands in the current market.
However, remember that this situation could change in the coming months or years. If you’re in the market for a used electric vehicle or even a hybrid, it’s worth checking out the available Tesla models to see if they meet your needs. Of course, the car also needs to be the right fit for you, so make sure you do your research before making a purchase.