Is it the right time to buy a used Tesla Model 3?

Is it the right time to buy a used Tesla Model 3?

If you are considering the switch to an electric car, you will hardly ignore the brand Tesla. Which doesn't mean buying one (not everyone likes American electrics and they aren't cheap), but definitely keeping them in mind as a category benchmark.

News of this period that could tease aspiring Teslari who don't want or can't spend at least 58.000 euros on a Model 3 new, is that hundreds of used cars are arriving on the second-hand market. And the number is destined to grow further in the coming months with probable effects on the quotations...

3 years later

First of all, we specify that this "invasion" of used Tesla Model 3s is physiological: in recent months many long-term leasing and rental contracts are expiring, typically lasting two or three years.

Hundreds of Tesla Model 3s, especially those sold in the first two years of marketing in Spain (they were well registered between 2019 and 2020 5.297), are pouring onto the second-hand market and could counterbalance a demand that has been clashing for months with the product shortage, electric or not.

Is it the right time to buy a used Tesla Model 3?

So let's see with this one quick buying guide, how much used Model 3s cost, what kind of warranty they have, what is the residual value of these second-hand Teslas, and where to buy them.

The used official Tesla

Then there is the 8-year warranty for the battery (or 160.000 or 192.00 km for Long Range and Performance) which is activated if the charge capacity drops below 70%.

Is it the right time to buy a used Tesla Model 3?

Official used prices are slightly higher than the Tesla Model 3 sold by dealers and individuals, but on paper they should enjoy a specific overhaul and refurbishment job.

At the moment on the Tesla guaranteed used page there are just under 70 Used Model 3s from 2019 and 2020, with prices ranging from a minimum of 39.500 euros to a maximum of 66.900 euros. But let's take a look at the offer model by model.

The purchase of a used Model 3 with an official Tesla guarantee can be done online by depositing a deposit (non-refundable) by credit card, as explained on this page. Delivery times for used cars, physically present in Tesla Service Centers throughout Spain, are approximately two weeks.

The addresses of the Tesla Service Centers in Bologna, Bolzano, Brescia, Caserta, Florence, Padua, Peschiera Borromeo (MI), Rome and Turin can be found on this page.

Tesla guaranteed used Model 3 prices

Let's start by Tesla Model 3 Standard Range Plus, the rear-wheel drive one with a 58 kWh battery, a range of 409 km and a power of 306 or 325 HP. The average price of the official second hand is 46.500 €, incredibly close to 48.500 of the new price in 2019. The residual value after 3 years is very high, i.e. equal to 95,8%, which is however a consequence of the inflation that has occurred on the new price list: today prices start from 57.490 euros. The mileages range from a minimum of 12.000 to a maximum of 81.000 km.

Is it the right time to buy a used Tesla Model 3?

The rear-wheel drive Tesla Model 3 Long Range is instead the rarest to find and at the moment there is only one for sale in the Tesla Stores in 41.900 €. The much more widespread Model 3 Long Range with all-wheel drive, on the other hand, it has an average used price (again on the Tesla website) of 51.600 €. Also in this case the residual value after 3 years, compared to 54.500 euros in 2019, is very high: 94,6%. The distances vary from a minimum of 16.000 to a maximum of 131.000 km, with the less "mileage" models at the top of the quotations.

We then arrive at the mighty Model 3 performance with 510 HP and 530 km of autonomy which is offered used by Tesla at an average price of 61.690 euros. A figure even higher than the 60.990 euros in the 2019 list, with a 1,3% increase in value. In this case, the distances fluctuate between 22.000 and 107.000 km.

Buy used Tesla from a dealer or private individual

Many other second-hand Teslas don't fit into the Tesla Store circuit, but are traded in for other brands at other dealerships, bought back, sold by rental/leasing companies, or sold privately.

In fact, just check websites specialized in used cars to find hundreds of ads from individuals, dealers, agents or showrooms offering the 3 and 2019 Tesla Model 2020. For example, Auto Scout24 currently has more than 200 for sale in Spain, with fluctuating prices. between the 35.000 and the 65.000 euro and has 43 on offer between 39.990 and 57.900 euros.

Is it the right time to buy a used Tesla Model 3?

In general, private individuals offer the lowest prices on the market, but cannot offer any additional guarantees, as do traders and resellers who are required by law to offer at least 1 year of guarantee.

What to check

In a used Tesla it is always important to check the condition andalignment of doors and body panels, factors sometimes lacking already on the new Model 3. A careful review also deserve the synthetic leather interior which may show signs of wear, as well as the sunroof to discover the presence of any water infiltrations. Not to be forgotten is the check of the black center console panel which on models manufactured before 2021 was more prone to scratches and cracks.

Is it the right time to buy a used Tesla Model 3?

It is also important to check the Tesla screen on the central display to confirm that the proposed model is exactly the one advertised by the seller. Also from the central touch screen, under the software item, it is then possible to check whether some important and expensive options are really present and active, such as advanced Autopilot and autonomous driving to maximum potential.

Buy, wait or… change model?

After this review it is clear that used Tesla Model 3s have particularly high rates and if on the one hand they can be justified by the success of the model and the increase in list prices of the new model, they do not seem to take into account the fact that Tesla itself offers the new Model Y (i.e. the same car in a crossover configuration) with affordable prices start by 49.990 euro and reasonable waiting times (1-3 months).

Is it the right time to buy a used Tesla Model 3?

Tesla Model 3

Is it the right time to buy a used Tesla Model 3?

Tesla Model Y

For those who do not have an immediate need for a car, in our opinion it is better to divert attention to one Model Y new. And if you don't want to drive other Teslas outside of the Model 3, in our opinion it's better to wait anyway: the prices are not yet stable and could probably decrease with the inevitable increase in stocks. Because no one escapes the law of supply and demand.

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