Is a used Tesla Model 3 the most slept-on car to buy used?
In recent years, the Tesla Model 3 has become a viable buying option for drivers looking to get an EV. Used Tesla’s have become more available in the market and you can even buy a Used Tesla Model 3 from Hertz.
TikTok user @carsrme says that buying a Used Tesla Model 3 is a great decision and viewers should consider copping one.
Potential benefits to buying a used Tesla Model 3
Buying a new Tesla Model 3 can range from $40,000-55,000. So buying a used Tesla Model 3 for half the cost of a new Tesla is appealing. Additionally, some used Tesla Model 3’s will qualify for a federal tax credit up to $4,000.
The used clean vehicle tax credit can be applied to Tesla’s models from 2022 or earlier. The sale price needs to be under $25,000 to qualify for the $4,000 tax credit, according to the IRS.
The annual income is also considered and an individual can only make up to $75,000 (or $150,000 for married couples filing jointly).
Consider battery condition before buying
The Tesla Model 3 battery warranty is eight years or 100,000 miles. JD Power reports that replacing a Tesla battery can range from $13,000-$20,000 including labor. The battery is expected to last 10-20 years, however, living in a hotter climate is known to reduce the lifespan of the battery quicker.
After 100,000 miles, the warranty expires leaving the driver stuck with the cost of replacing the battery. The electric vehicle batteries are at this high price due to the demand of natural minerals (nickel, lithium, cobalt) used to create them.
So is buying a used Tesla Model 3 a good idea?
Here are four questions to answer to determine if buying a used Tesla Model 3 is a good investment for you.
- How many miles does the used Tesla have?
- How many years are left in the warranty?
- Are you okay with spending between $13,000-$20,000 to replace the battery once the warranty ends or drive over 100,000 miles?
- Would you qualify for the federal tax credit?
At the end of the day, the decision should be made by you. There are reasons to buy and reasons to avoid. Someone on the internet will support either claim so answering these questions above on your own will help guide you.
What do viewers think of buying a used Tesla Model 3?
Of course, plenty of internet users weighed into the comments section with their opinions anyway.
“There’s no downside. These cars are extremely reliable. Plus, there is no service, no oil changes, practically nothing. Best cars in the world plus they’re the safest in the world,” one user wrote.
“It’s like buying an old iPhone. No matter the miles the battery is always shrinking,” one commented.
“Wait until you have to replace the battery,” one replied.
“The used Model Y is a great buy too. I got a 2022 dual motor long range with 22k miles for 25k,” one suggested.
“That’s amazing people are buying used Fords and Chevys with 50k miles at that price but won’t buy a Tesla,” one commented.
This TikTok has more than 95.5KM views with over 1.5K likes.
@carsrme Tesla Model 3 #tesla #teslamodel3 ♬ original sound – Thomas
The Daily Dot contacted @carsrme via TikTok messenger and commented on the post.
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