Now’s the Time To Buy a Used Tesla: See How Much Prices Have Dropped
For the first time in two years, used car prices have been declining, and used Tesla prices are dropping at particularly fast rates. An analysis by iSeeCars found that the average late-year Tesla used car value has dropped 4.8% from January to February, while the overall average price drop across all late-year used cars in the same time period was just 1.5%.
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Declines in Tesla used car values were accelerated when the company announced significant price reductions for new Tesla models on Jan. 13. To see just how much prices dropped, iSeeCars compared the average prices of used Teslas from before the announcement (Jan. 3-11) and after the announcement (Jan. 15-31). Here’s a look at how much prices have dropped across used Tesla models.
Tesla Model 3
- Pre-announcement average price: $44,987
- Post-announcement average price: $42,633
- Percent change: -5.2%
- Cost change: -$2,354
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Tesla Model S
- Pre-announcement average price: $90,035
- Post-announcement average price: $85,409
- Percent change: -5.1%
- Cost change: -$4,626
Tesla Model X
- Pre-announcement average price: $86,828
- Post-announcement average price: $83,457
- Percent change: -3.9%
- Cost change: -$3,370
Tesla Model Y
- Pre-announcement average price: $56,786
- Post-announcement average price: $53,970
- Percent change: -5.0%
- Cost change: -$2,816
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All data is sourced from iSeeCars’ Tesla pricing study.