Might need to replace car: are used Tesla's the value play right now?

[MikeZ]

All my life my strategy of buying a three year old Japanese car with 50k miles for $12-15k has paid off well (generally get rid of it after it is ~10 years old and have not had any real maintenance issues with this approach). Now, not looking too feasible. All that to say, is there a resource on what the current value plays are? Seems like used Tesla's are starting to look attractive, anywhere else I should look?

Not trying to be Tesla focused per se, but it seems like used EVs are the value part of the market right now--and I may need to make some cross country road trips and Tesla seems to be the EV that meets that requirement.

I was holding out hope that there would be used RAV4 Prime's hitting the market in a couple of years; but not sure I can wait that long. I have seen 5 year old BMW 530e's in the mid $20's too.

Basically looking for a Hybrid or EV primarily due to the requirement that we need to leave our dog in it while parked and locking it with the AC running without idling is a really nice feature.

[sureshoe]

There's lots of debate about whether EVs are being devalued/etc. right now, so I'll let others chime in here, but the bigger question is this:

Have you actually ridden in a Tesla? I literally was in a Model Y last night, and I was struck by just how cheap it felt. The seats feel like a low end car. The cabin was noisy and the ride was stiff. I'm not an EV or Tesla hater, but I was surprised by just how chincy it felt, particularly since the Model S was supposedly very high end.

[PNWpilot]

Make sure you ride in a Tesla and really get a feel for it. My opinion is the same as MikeZ, cheap plastic and noisy ride. Certainly not a value in my eyes.

[cmr79]

Teslas and other used EVs do look like a pretty good value right now if you were already considering an EV. Plenty of threads on here about the pluses and minuses.

[whodidntante]

I have not seen a Tesla that I thought was a great value. I agree that three year old Japanese cars are not a good value if you want Japanese then Mazda is likely your best bet.

My value play recommendation is to buy something that is considered our of favor but is actually a great car. But since you mentioned Tesla I assume you are open to American cars. A Dodge charger with the base engine is worth considering as a daily driver. I just rented one and was surprised at how comfortable it was Stellantis vehicles are very much out of favor now, and it's justified because they make some terrible vehicles, but there are good specimens. Certain German cars are also worth considering. BMW has some cars worth owning, but their reputation is terrible. You can benefit from the wicked depreciation if you learn which cars are good.

I would avoid Nissan, Hyundai, and Kia unless you're sure you found a rare gem. It's too much of a minefield.

[Hiram]

We own a 2022 Audi q4 Etron. Unlike Tesla it has a very nice ride and feel. The price has really dropped on these as well. There are other evs out there than Tesla.

[whodidntante]

One possible benefit of an EV would be if you can charge it easily and cheaply at home and seldom need to use a fast charger on the road. Avoiding trips to the gas station would have some value. I don't think you'll manage to save money, though. Gas doesn't cost as much as some people think, electricity is not free, and electric cars are much more expensive if you control for other qualities of the car. In my opinion, Tesla's just aren't nice cars if you ignore the power train.

[alfaspider]

Make sure you ride in a Tesla and really get a feel for it. My opinion is the same as MikeZ, cheap plastic and noisy ride. Certainly not a value in my eyes.

The Model S has a higher-end feel than the Models 3/Y, but if you were in an uber, the back seat is much worse than being in the front from a ride comfort standpoint.

But it depends on what you are looking for. They may have chincier feeling materials, but are quite a bit quicker than other cars in their price bracket. The Model 3 performance runs low 11s in the quarter mile and can be had for around $30k. 11 Second quarter mile is what hypercars like the Ferrari Enzo were running 20 years ago. Your average Camry driver couldn't care less about being that quick, but some drivers (myself included) would rather live with a few squeaks and rattles and have a quicker car.

The OP does need to be aware that the Model 3 is just now rolling out a fairly major update (as far as Teslas are concerned) and the Y has a similar update coming. New-order Model 3s have the update, but any used car will be pre-update. That has depressed prices, but they may continue to go down as the new model rolls out. Also to be aware of some major changes:

2021+ cars have the heat pump, which will help keep range up in cold temps
2022+ cars have a lithium low-voltage battery and better infotainment processor
The early standard range cars (I believe 2017-2020) had different battery chemistry and were actually quicker/lighter than more recent ones.

In any case, you should do a test drive (easy to set up if you have a Tesla service center near by) and evaluate whether the drawbacks of the Model 3 (minimalist and cheaper materials, relatively high freeway noise) are a problem for you.

[illumination]

If I was set on buying a used electric car, then no question I would heavily lean towards Tesla versus other offerings. Some of the other European luxury makes getting into this, I just would be very cautious outside a warranty.

Anecdotal, but everyone I know that buys a Tesla seems to love it. The only complaint I have heard is their service department sometimes has issues in terms of volume. But traditional dealerships in my area have also had similar problems.

[sink]

We wanted to replace our loved 12 yr old prius last November. We looked, and looked, and looked. Could not find one at any dealer. Used ones had too many miles. We explored other hybrids but no luck finding one on lots.

We decided to get the lowest cost Tesla Model 3, $34k after tax rebate. I love this car. I have a Toy Camry Hybrid and would sell it for another used Tesla if it wasnt for the 4 trips a year we want to drive 500 miles straight thru, and want one hybrid for long trips. 90% of our driving is local, and the Tesla is really fun and perfect for it. I really like everything about the model 3. Drives very solid, feels solid. Its been 6 months of ownership and no complaints. With the beating that EVs are taking in the media right now, I say go shopping for one.

[MikeZ]

We wanted to replace our loved 12 yr old prius last November. We looked, and looked, and looked. Could not find one at any dealer. Used ones had too many miles. We explored other hybrids but no luck finding one on lots.

We decided to get the lowest cost Tesla Model 3, $34k after tax rebate. I love this car. I have a Toy Camry Hybrid and would sell it for another used Tesla if it wasnt for the 4 trips a year we want to drive 500 miles straight thru, and want one hybrid for long trips. 90% of our driving is local, and the Tesla is really fun and perfect for it. I really like everything about the model 3. Drives very solid, feels solid. Its been 6 months of ownership and no complaints. With the beating that EVs are taking in the media right now, I say go shopping for one.

I have a 2014 Camry Hybrid and it appears to have a fluid leak from the transmission that could well be enough money to justify getting something else.

[barnaclebob]

Check to see what your insurance rates would be first and good luck if you ever need a repair. Latest I heard was that the steering wheels were delaminating and Tesla was blaming it on owners for using lotion on their hands...

Buyer beware.

[YeahBuddy]

Depending on location, Teslas are very expensive and very difficult to insure. I obtained 3 quotes and I'm looking at $1,200-$2,100 more per year to insure. That kills the value play for me.

[livingalmostlarge]

I think so they are getting cheaper but they go up another $1000 on march 1

[MH2]

Have you actually ridden in a Tesla? I literally was in a Model Y last night, and I was struck by just how cheap it felt. The seats feel like a low end car. The cabin was noisy and the ride was stiff. I'm not an EV or Tesla hater, but I was surprised by just how chincy it felt, particularly since the Model S was supposedly very high end.

Only when compared to the mid and high level trims from premium European brands. An issue when they were selling new for 60-70k+.

Now that the entry price for a new Tesla is around 40k and plenty of used ones are available for around 25k, the actual competition for the Model Y are the higher end interior trims from Honda and Toyota. Tesla is - very - competitive here, even if they may not win outright.

Keep in mind that this only applies to the North American market. BMW and Audi are more than happy to sell a base level cloth trim everywhere else in the world.

[sureshoe]

Have you actually ridden in a Tesla? I literally was in a Model Y last night, and I was struck by just how cheap it felt. The seats feel like a low end car. The cabin was noisy and the ride was stiff. I'm not an EV or Tesla hater, but I was surprised by just how chincy it felt, particularly since the Model S was supposedly very high end.

Only when compared to the mid and high level trims from premium European brands. An issue when they were selling new for 60-70k+.

Now that the entry price for a new Tesla is around 40k and plenty of used ones are available for around 25k, the actual competition for the Model Y are the higher end interior trims from Honda and Toyota. Tesla is - very - competitive here, even if they may not win outright.

Keep in mind that this only applies to the North American market. BMW and Audi are more than happy to sell a base level cloth trim everywhere else in the world.

Well yeah, comparing the Model Y to a top end Camry, I feel like the Tesla isn't even in the neighborhood. I was blown away by how cheap it felt - from the incredibly "plastic" feeling, rock hard seats to the very sparse, cheap feeling/looking surfaces.

Anyhoo... I know people love them, so have at it, but I don't understand it.

[cmr79]

Have you actually ridden in a Tesla? I literally was in a Model Y last night, and I was struck by just how cheap it felt. The seats feel like a low end car. The cabin was noisy and the ride was stiff. I'm not an EV or Tesla hater, but I was surprised by just how chincy it felt, particularly since the Model S was supposedly very high end.

Only when compared to the mid and high level trims from premium European brands. An issue when they were selling new for 60-70k+.

Now that the entry price for a new Tesla is around 40k and plenty of used ones are available for around 25k, the actual competition for the Model Y are the higher end interior trims from Honda and Toyota. Tesla is - very - competitive here, even if they may not win outright.

Keep in mind that this only applies to the North American market. BMW and Audi are more than happy to sell a base level cloth trim everywhere else in the world.

This was my impression exactly. The Model Y was $68k when we were cross-shopping it with other EVs, and it definitely didn't feel as nice on the inside as slightly cheaper options like the Audi Q4 e-tron or Mercedes EQB. Better acceleration, range and charging though hands down...that just wasn't what we valued. I would certainly have considered the interior to be nicer than the lower trim Honda/Toyota/Subaru vehicles we've owned. Also, I think many Tesla owners place a high value on the software, whereas this is definitely a weaker point for most other automakers--both legacy and EV startup.

The Model X and Model S have never seemed like great value propositions to me, even at their current lower prices. They just aren't that different in terms of interior quality than the 3/Y. Perhaps one might need the space of the X, the range of the S or want the acceleration of a Plaid version... Maybe with such small sales volumes compared to the 3/Y, Tesla doesn't have much of an incentive to focus there?

[MH2]

Have you actually ridden in a Tesla? I literally was in a Model Y last night, and I was struck by just how cheap it felt. The seats feel like a low end car. The cabin was noisy and the ride was stiff. I'm not an EV or Tesla hater, but I was surprised by just how chincy it felt, particularly since the Model S was supposedly very high end.

Only when compared to the mid and high level trims from premium European brands. An issue when they were selling new for 60-70k+.

Now that the entry price for a new Tesla is around 40k and plenty of used ones are available for around 25k, the actual competition for the Model Y are the higher end interior trims from Honda and Toyota. Tesla is - very - competitive here, even if they may not win outright.

Keep in mind that this only applies to the North American market. BMW and Audi are more than happy to sell a base level cloth trim everywhere else in the world.

This was my impression exactly. The Model Y was $68k when we were cross-shopping it with other EVs, and it definitely didn't feel as nice on the inside as slightly cheaper options like the Audi Q4 e-tron or Mercedes EQB. Better acceleration, range and charging though hands down...that just wasn't what we valued. I would certainly have considered the interior to be nicer than the lower trim Honda/Toyota/Subaru vehicles we've owned. Also, I think many Tesla owners place a high value on the software, whereas this is definitely a weaker point for most other automakers--both legacy and EV startup.

The Model X and Model S have never seemed like great value propositions to me, even at their current lower prices. They just aren't that different in terms of interior quality than the 3/Y. Perhaps one might need the space of the X, the range of the S or want the acceleration of a Plaid version... Maybe with such small sales volumes compared to the 3/Y, Tesla doesn't have much of an incentive to focus there?

The interior quality for the S and X is slightly better than the 3 or Y, but not by much. There are other reasons to buy them, but if you’re looking for interior quality above everything else, there are better options.

That said, they have other selling points, and these are very worth while. The Model Y is still the best SUV I’ve driven. The instantaneous torque is addicting. For all of the faults with body panels and general construction, the consensus is that the power trains, at least, are reliable and robust.

At under 30K used, I think they’re a great bargain for the right use case. But, if you want a great interior, you’re better off with a higher trim E Class or 5 series, or their SUV equivalents (and likely with the previous generation of both).

[cmr79]

Have you actually ridden in a Tesla? I literally was in a Model Y last night, and I was struck by just how cheap it felt. The seats feel like a low end car. The cabin was noisy and the ride was stiff. I'm not an EV or Tesla hater, but I was surprised by just how chincy it felt, particularly since the Model S was supposedly very high end.

Only when compared to the mid and high level trims from premium European brands. An issue when they were selling new for 60-70k+.

Now that the entry price for a new Tesla is around 40k and plenty of used ones are available for around 25k, the actual competition for the Model Y are the higher end interior trims from Honda and Toyota. Tesla is - very - competitive here, even if they may not win outright.

Keep in mind that this only applies to the North American market. BMW and Audi are more than happy to sell a base level cloth trim everywhere else in the world.

This was my impression exactly. The Model Y was $68k when we were cross-shopping it with other EVs, and it definitely didn't feel as nice on the inside as slightly cheaper options like the Audi Q4 e-tron or Mercedes EQB. Better acceleration, range and charging though hands down...that just wasn't what we valued. I would certainly have considered the interior to be nicer than the lower trim Honda/Toyota/Subaru vehicles we've owned. Also, I think many Tesla owners place a high value on the software, whereas this is definitely a weaker point for most other automakers--both legacy and EV startup.

The Model X and Model S have never seemed like great value propositions to me, even at their current lower prices. They just aren't that different in terms of interior quality than the 3/Y. Perhaps one might need the space of the X, the range of the S or want the acceleration of a Plaid version... Maybe with such small sales volumes compared to the 3/Y, Tesla doesn't have much of an incentive to focus there?

The interior quality for the S and X is slightly better than the 3 or Y, but not by much. There are other reasons to buy them, but if you’re looking for interior quality above everything else, there are better options.

That said, they have other selling points, and these are very worth while. The Model Y is still the best SUV I’ve driven. The instantaneous torque is addicting. For all of the faults with body panels and general construction, the consensus is that the power trains, at least, are reliable and robust.

At under 30K used, I think they’re a great bargain for the right use case. But, if you want a great interior, you’re better off with a higher trim E Class or 5 series, or their SUV equivalents (and likely with the previous generation of both).

I agree with you. We ended up purchasing an EQB in late 2022, but I'm not sure we could have justified it at current pricing even though we don't value some of Tesla's best features as much as most (we've never used a DCFC, for example). The used EV market is bonkers right now, and I somewhat wish I could justify trading in our second vehicle (a 10 year old Forester with low mileage) for a lightly used EV...we only put about 1k miles on the Forester in the last year though, predominantly on road trips, so this would be a questionable decision on essentially every front.

[4nursebee]

People are sharing an awful lot of their opinions here, I disagree with much of it. Long time owner.

Yes, I think used model 3s are a great value right now. I get the cheap feel comments but that does not impact my value analysis.

[oldcomputerguy]

A trolling exchange was removed. As a reminder, see: Non-actionable or Trolling Topics

If readers can't do anything with the content of a topic other than argue about it, it does not belong here.

[Wwwdotcom]

I think the process is relatively easy and similar to a used car. Your not going to get value unless you put in some work. Start with a search of all certified used EVs ( for a somewhat apples to apples comparison by condition), including a search on Tesla's inventory. Once you narrow it down to three or four models, plug in a vin to get insurance quotes. Once your okay with that, go out for test drives and read through the specialized forums. Most of them should have a faq or used car buying guide.

[windaar]

I may need to make some cross country road trips and Tesla seems to be the EV that meets that requirement.

Read the article in today's WSJ "The Day our Tesla Deflated" about how it took a road-tripper days to get a Tesla flat-tire replaced.

[dsmclone]

Here is what I'd recommend, talk to actual Tesla owners. The internet is filled with a lot of people that "heard that". I made the mistake of listening to some of these people and they put the fear of god in me. After owning a Model Y for the last 6 months, pretty much everything they said would be a concern turned out to not be an issue at all. While other things like insurance costs, did turn into something to think about.

Go drive one and talk to actual owners. If you need a referral for a test drive, let me know.

[hunoraut]

Read the article in today's WSJ "The Day our Tesla Deflated" about how it took a road-tripper days to get a Tesla flat-tire replaced.

And what is your takeaway from that article? What makes getting a flat-tire or a replacement something unique to Tesla?

[windaar]

Read the article in today's WSJ "The Day our Tesla Deflated" about how it took a road-tripper days to get a Tesla flat-tire replaced.

And what is your takeaway from that article? What makes getting a flat-tire or a replacement something unique to Tesla?

Author said that his Tesla came without jack and spare tire and that the specific tires for Teslas are difficult to find when outside of high-population areas. Said that next time he's flying.

[windaar]

Read the article in today's WSJ "The Day our Tesla Deflated" about how it took a road-tripper days to get a Tesla flat-tire replaced.

And what is your takeaway from that article? What makes getting a flat-tire or a replacement something unique to Tesla?

Author said that his Tesla came without jack and spare tire and that the specific tires for Teslas are difficult to find when outside of high-population areas. Said that next time he's flying. (Tire for some reason could not be patched)

[dsmclone]

Read the article in today's WSJ "The Day our Tesla Deflated" about how it took a road-tripper days to get a Tesla flat-tire replaced.

And what is your takeaway from that article? What makes getting a flat-tire or a replacement something unique to Tesla?

Author said that his Tesla came without jack and spare tire and that the specific tires for Teslas are difficult to find when outside of high-population areas. Said that next time he's flying. (Tire for some reason could not be patched)

I hope this person wasn't someone that regularly reviews cars for a living. The last 3 vehicles I've owned have not had spare tires. It's very common on BMW's, MB, and sports cars trying to save weight. It does stink though when it actually happens and the other downside is that these vehicles usually have tires that are more prone to blow.

[hunoraut]

Author said that his Tesla came without jack and spare tire and that the specific tires for Teslas are difficult to find when outside of high-population areas. Said that next time he's flying.

Most new passenger vehicles do not come equipped with spare and/or jacks, for weight, space, and cost reasons.

My previous cars (german, french, italian, german, japanese, etc…) did not. And I can’t recall any that did.

The standard tire size for the Model 3 in that article is an extremely common 235/45/18. Tirerack.com right now shows 80 different MODELS of tires in that size that can be delivered by Thursday.

[windaar]

Most new passenger vehicles do not come equipped with spare and/or jacks, for weight, space, and cost reasons.

I guess it depends on your definition of "most." I just checked and our 2022 Honda and Toyota both have jack & spare.

[hunoraut]

I guess it depends on your definition of "most." I just checked and our 2022 Honda and Toyota both have jack & spare.

Have you considered checking the cars in the Teslas class, eg BMW 330 electric.

(Fun fact they also use similar size tires).

[knowledge]

I'd consider an EV as a value play if you envision using it for the next 10 years or so. They're ideal if you have home-based charger and are primarily used to tool around the suburbs (their range is optimal at 35 mph). Because of this, my 2022 Tesla 3 is the right car for me. I just wish I had bought it for $3k cheaper, but what can you do.

[Northern Flicker]

... if you want Japanese then Mazda is likely your best bet.
...
My value play recommendation is to buy something that is considered our of favor but is actually a great car.

That has generally been my strategy in the past. Example: 5 year old Ford Escort with 55K miles, bought for $4800, drove for 12 years, only 1 unscheduled repair at $500, rest of cost was gas, insurance, and scheduled maintenance, totaled in fender bender, valued at $3050 by insurer.

This has become more difficult to do. I agree that Mazda is likely the best bet for a value used car. Might also consider a used Ford Focus or Ford Taurus. Consumer Reports used car repair data is very helpful.

[alfaspider]

... if you want Japanese then Mazda is likely your best bet.
...
My value play recommendation is to buy something that is considered our of favor but is actually a great car.

That has generally been my strategy in the past. Example: 5 year old Ford Escort with 55K miles, bought for $4800, drove for 12 years, only 1 unscheduled repair at $500, rest of cost was gas, insurance, and scheduled maintenance, totaled in fender bender, valued at $3050 by insurer.

This has become more difficult to do. I agree that Mazda is likely the best bet for a value used car. Might also consider a used Ford Focus or Ford Taurus. Consumer Reports used car repair data is very helpful.

The automatic Focus had serious transmission issues. I'd only consider a manual transmission one, but those usually carry a premium (and most sold in manual were ST models).

[Northern Flicker]

Might also consider a Ford Fusion.

[tjtv]

When you buy a 3year or 4year old car with 50k miles on it and keep it until it's ~10 years old - 1)how many miles do you put on it during those years, and 2)what do you expect to sell the car for at the ~10 year mark?

EVs are not like ICE vehicles. There's a very real chance that the battery is worthless(which makes the car worthless) at the 10 year mark. Battery warranty on Model 3 is 8years and 100k or 120k miles. So if you're expecting to put a lot of miles on it, you may end up paying for a battery replacement out of pocket or scrapping the car.

Tesla didn't really start selling in any volume until at least 2018/2019 timeframe. The overwhelming majority of Teslas are still within the 8 year battery warranty period. Relatively little is known about the longterm(>8 years) viability of these batteries. Buyer beware on a used car purchase.

[alfaspider]

When you buy a 3year or 4year old car with 50k miles on it and keep it until it's ~10 years old - 1)how many miles do you put on it during those years, and 2)what do you expect to sell the car for at the ~10 year mark?

EVs are not like ICE vehicles. There's a very real chance that the battery is worthless(which makes the car worthless) at the 10 year mark. Battery warranty on Model 3 is 8years and 100k or 120k miles. So if you're expecting to put a lot of miles on it, you may end up paying for a battery replacement out of pocket or scrapping the car.

Tesla didn't really start selling in any volume until at least 2018/2019 timeframe. The overwhelming majority of Teslas are still within the 8 year battery warranty period. Relatively little is known about the longterm(>8 years) viability of these batteries. Buyer beware on a used car purchase.

There is so much FUD being spread around EV battery life that isn't warranted. There is no reason to expect your battery will fail at 100k miles any more than there is reason to expect an internal combustion engine will fail at 100k miles. Obviously, it happens, and when it does it totals the car, but it is rare (especially when you don't include cars like the early Leaf that has no active battery cooling).

[sambb]

would avoid used tesla due to high repair costs, insurance costs, low resale, and cheap appearance. If you want one, a new one isnt too expensive. However, consider leasing one and then deciding.

[Northern Flicker]

would avoid used tesla due to high repair costs, insurance costs, low resale, and cheap appearance. If you want one, a new one isnt too expensive. However, consider leasing one and then deciding.

If trying to decide between new and used, low resale/high rate of depreciation generally favors buying used moreso that if depreciation is slower and resale value is worsened.

[Northern Flicker]

When you buy a 3year or 4year old car with 50k miles on it and keep it until it's ~10 years old - 1)how many miles do you put on it during those years, and 2)what do you expect to sell the car for at the ~10 year mark?

I don't have any a priori plan of when to sell. If I use this strategy, I will look for a car that has a steeper depreciation curve than a Honda or Toyota, and strong reliability data in Consumer Reports used car ratings that are based on actual repair histories, not projections. Once the car is purchased none of that matters any more. How long I will keep the car will depend on many factors-- on-going reliability of my specific car, how much I like it, whether I continue to need a car, etc.

[Northern Flicker]

Possible changes coming to a car market near you:

https://www.nytimes.com/2024/02/27/opin ... =url-share

[mushripu]

New model Y are a better value if you are willing to go electric and higher than your usual range of buying for 10-12k

Try to find a model Y from inventory.not a custom build. You can find discounts of 2.2k or so
42k minus federal 7.5k minus any state incentive minus any Tesla incentive puts you at around 31k or so used Teslas on carvana quoted more than this.

[taxthrowaway1]

And what is your takeaway from that article? What makes getting a flat-tire or a replacement something unique to Tesla?

Author said that his Tesla came without jack and spare tire and that the specific tires for Teslas are difficult to find when outside of high-population areas. Said that next time he's flying.

Author said that *performance tires* are difficult to find. I was ready to be put off buying a model Y based on the article, but it seems to be at least partially FUD. Might still avoid the performance models (though they weren't really in the running anyway).

[stungerz]

Only when compared to the mid and high level trims from premium European brands. An issue when they were selling new for 60-70k+.

Now that the entry price for a new Tesla is around 40k and plenty of used ones are available for around 25k, the actual competition for the Model Y are the higher end interior trims from Honda and Toyota. Tesla is - very - competitive here, even if they may not win outright.

Keep in mind that this only applies to the North American market. BMW and Audi are more than happy to sell a base level cloth trim everywhere else in the world.

This was my impression exactly. The Model Y was $68k when we were cross-shopping it with other EVs, and it definitely didn't feel as nice on the inside as slightly cheaper options like the Audi Q4 e-tron or Mercedes EQB. Better acceleration, range and charging though hands down...that just wasn't what we valued. I would certainly have considered the interior to be nicer than the lower trim Honda/Toyota/Subaru vehicles we've owned. Also, I think many Tesla owners place a high value on the software, whereas this is definitely a weaker point for most other automakers--both legacy and EV startup.

The Model X and Model S have never seemed like great value propositions to me, even at their current lower prices. They just aren't that different in terms of interior quality than the 3/Y. Perhaps one might need the space of the X, the range of the S or want the acceleration of a Plaid version... Maybe with such small sales volumes compared to the 3/Y, Tesla doesn't have much of an incentive to focus there?

When the Y was $66k, there was definitely competition and expectation at that price. However, it is now $45k. Subtract another $7500 for the tax rebate and now you are comparing it to a $37.5k car.

When I got my Y the competition was low-end rav4 hybrid and add $5k and get the Y long range.

[Strummer]

Not trying to be Tesla focused per se, but it seems like used EVs are the value part of the market right now--and I may need to make some cross country road trips and Tesla seems to be the EV that meets that requirement.

Hello. Model 3 owner since 2018 here.

The charging network in the US is getting more robust every year, so it's possible to road trip in non-Tesla EVs, but Tesla makes the process as easy and transparent as possible with its Supercharger network. You enter your destination on the built-in GPS and it tells you where to stop and for how long. (To be fair, this info can change depending on driving conditions, but any changes will be updated automatically as well.)

Charging at home is a great benefit. I rarely drive more than 50 miles in a day so I just charge off a standard 110 outlet in my garage (i.e., no special charger or high voltage outlet needed). I also enjoy that I have no idea how much gas costs right now.

As for insurance, get estimates from lots of companies. My best rate turned out to be from the Costco-affiliated Connect by AmFam insurance.

If I was in the market for a new car today, I'd be looking at the Kia electrics, but I'd also be looking at what new EVs are going to be coming out in the next 6-12 months.

[David Jay]

If you are planning long trips, I would be less concerned about getting a "value" (great deal) and more about utility.

A hybrid is a much better long-distance machine, especially out in "flyover" country. No charger availability anxiety.

[quantAndHold]

One possible benefit of an EV would be if you can charge it easily and cheaply at home and seldom need to use a fast charger on the road. Avoiding trips to the gas station would have some value. I don't think you'll manage to save money, though. Gas doesn't cost as much as some people think, electricity is not free, and electric cars are much more expensive if you control for other qualities of the car. In my opinion, Tesla's just aren't nice cars if you ignore the power train.

Charging at home overnight costs us about 1/3 of what it would cost to buy a comparable amount of gas. Most electric utilities have EV plans with cheap overnight rates. After government incentives, we got our brand new 2023 Chevy bolt for $18k. The Bolt’s fit and finish is similar to any other $30k car. Its definitely nicer that the Honda CR-V and Mazda 3 that it replaced. Insurance cost is similar to any other similarly priced car. And maintenance…there isn’t really any to speak of. So far, after a year and a half, it’s been a tire rotation and we had to buy some washer fluid. We’ll probably need wiper blades sometime in the next six months.

The Bolt isn’t the right choice for OP, who wants to take road trips, because it charges too slowly, but there are other non-Tesla EVs that are actually nice cars for reasonable prices, that charge faster.

[sambb]

The depreciation of teslas and EVs is enormous, and there doesnt seem to be much of a floor. I would lease a new one, not buy a used one.

[fogalog]

The depreciation of teslas and EVs is enormous, and there doesnt seem to be much of a floor. I would lease a new one, not buy a used one.

I could be wrong of course but my impression is that many EVs were launched as we were emerging from Covid and the resultant components / supply chain shortages which, combined with a spike in demand, caused car manufacturers to get greedy and add a significant premium to their new EV models. This was certainly true for the brands I was looking at at the time, BMW, Audi. It didn’t last long.

Fast forward a few years and the incentives are now crazy good, particularly for leasing (where the $7500 federal credit still applies, regardless of income).

I expect prices will be roughly equivalent soon if not already and the long term value of EV will be seen in lower maintenance costs. Many of the second hand EVs coming to market now were originally purchased during that post covid surge so I expect resell value will stabilise.

I do agree with others regarding Teslas in general: terrible build quality and just feel cheap internally, even the $100k S.

Again, just my own observations. (I’m a 2-EV household and would highly recommend it).

[MtnTravel]

Model Y owner for about a year now. I think it’s a fantastic car, and I wouldn’t hesitate to buy another one.

I also don’t view cars as investments, I view them as appliances. If I like the car, I buy it and don’t worry about depreciation down the road since I intend to keep it for several years.