Should I get rid of my Tesla? And replace it with what?

[LAMTA]

I own a Tesla, and I'm thinking about trading it in for something else. This is not intended to be a political post, so please don't make it one.

My concern is about the company's long term viability. Tesla sales are down worldwide, resale values have tanked, the company stock is nosediving, the vehicles are getting even more expensive to insure, and there's really no upside in sight. I'm concerned about owning a car that may be worthless in a year or two and/or impossible to get parts for. It's the same reason I wouldn't buy a Polestar or Rivian right now.

Is this a legitimate concern with Tesla? Has anyone else traded theirs in lately? If so, what's your experience with value? Is it worth cutting my losses now and trading it in for something else while I still can?

I love the EV driving experience, but I'm afraid of getting into another EV and facing the same situation. I'd ultimately like a car I can keep for a long time, and a year ago I thought that would be Tesla, but now not so much.

[beardsicles]

The Ioniq 5 and 6 are great cars if they meet your needs. A few Teslas in my work parking lot have disappeared and have been replaced by BMW iXs. The folks at my work seem to really like the BMWs.

[MarkRoulo]

I own a Tesla, and I'm thinking about trading it in for something else. This is not intended to be a political post, so please don't make it one.

My concern is about the company's long term viability. Tesla sales are down worldwide, resale values have tanked, the company stock is nosediving, the vehicles are getting even more expensive to insure, and there's really no upside in sight. I'm concerned about owning a car that may be worthless in a year or two and/or impossible to get parts for. It's the same reason I wouldn't buy a Polestar or Rivian right now.

Is this a legitimate concern with Tesla? Has anyone else traded theirs in lately? If so, what's your experience with value? Is it worth cutting my losses now and trading it in for something else while I still can?

I love the EV driving experience, but I'm afraid of getting into another EV and facing the same situation. I'd ultimately like a car I can keep for a long time, and a year ago I thought that would be Tesla, but now not so much.

You can sell or trade in your Telsa and get a Toyota. Car Max should be able to give you a quote for your Tesla and you can use that as a starting point.

[SmallSaver]

I believe Polestar is offering a significant incentive specifically for Tesla owners at the moment. It might be time-limited, so I'd check sooner than later.

edit, here you go.

[stan1]

Spouse had a non-Tesla EV bought in May 2023, then sold in Sept 2024 due to range anxiety. Lost a lot of money to depreciation.

PHEVs might be the sweet spot for a few more years, especially if you have home charging to charge it every night for the next days commute. US sale BMW X5 PHEVs are assembled in South Carolina but they have a lot of imported parts. The BMW X5 is impressive though. Nicest vehicle we've ever owned (and we've had nice German cars for decades).

[TomatoTomahto]

I like my Mercedes EQS a lot; I liked my Tesla for many years, but their parts availability was a mess.

Mercedes, BMW, Hyundai, etc are good cars. I personally would not worry about Rivian, Polestar, or Lucid, but that’s your call.

[rockstar]

They’ll probably last longer than Daewoo.

https://en.m.wikipedia.org/wiki/Daewoo_Motors

I’m sure the company will be fine. This is an avoidable bump in the road. VW survived WWII.

[blueskyuc]

I sold my 2022 Tesla model 3 in Nov 2024 to a dealer with the highest offer. The depreciation is more 50% after less than 3 years and 45k miles. The reasons for selling were poor seat quality, very bumpy ride and I was also concerned it wouldn't worth much if I kept it for a couple more years. I believe once the battery warranty is over, it is close to worthless. Basically, I decided to cut the loss early.

[LAMTA]

I like my Mercedes EQS a lot; I liked my Tesla for many years, but their parts availability was a mess.

Mercedes, BMW, Hyundai, etc are good cars. I personally would not worry about Rivian, Polestar, or Lucid, but that’s your call.

I may look at a hybrid/PHEV BMW. I'm concerned about the price of the i4/iX/EQS, etc. They are extremely expensive, and I'd be concerned about depreciation. At least you know BMW/Mercedes will still be around in a year or two. Can't say the same about Tesla. The insurance costs are also getting insane.

[mgensler]

Just sold our 2016 X. We were original owners (have owned Tesla cars since 2013). Had Carmax and Carvana give us a price. Carvana was $6k higher so went with them. We replaced it with a Volvo C40. We leased the new car in order to get the EV rebate. A little better deal than paying cash. Seems like a great car and is much quieter/no rattles but of course, it's new. With the opening of Supercharger stations to other brands, that made the decision pretty easy in case we can't find another charger on a trip.

[SmallSaver]

Spouse had a non-Tesla EV bought in May 2023, then sold in Sept 2024 due to range anxiety. Lost a lot of money to depreciation.

PHEVs might be the sweet spot for a few more years, especially if you have home charging to charge it every night for the next days commute. US sale BMW X5 PHEVs are assembled in South Carolina but they have a lot of imported parts. The BMW X5 is impressive though. Nicest vehicle we've ever owned (and we've had nice German cars for decades).

I haven't done the math, but the steep depreciation curve could make leasing more attractive that buying for EVs.

[TomatoTomahto]

I like my Mercedes EQS a lot; I liked my Tesla for many years, but their parts availability was a mess.

Mercedes, BMW, Hyundai, etc are good cars. I personally would not worry about Rivian, Polestar, or Lucid, but that’s your call.

I may look at a hybrid/PHEV BMW. I'm concerned about the price of the i4/iX/EQS, etc. They are extremely expensive, and I'd be concerned about depreciation. At least you know BMW/Mercedes will still be around in a year or two. Can't say the same about Tesla. The insurance costs are also getting insane.

There are other Mercedes EVs, like EQA, EQB, and EQE (they roughly correspond to the ICE cars with the same letters). A friend has a GLE PHEV and absolutely loves it; we call it her gateway drug on her way to a full EV

[EnjoyIt]

Based on recent sentiment, it appears the perfect time to buy a used Tesla.

[runninginvestor]

I actually don't mind the looks of the newer Prius. I didn't mind the old looks, I've owned one before, but they updated the model a couple years ago to look a little more flashy . If you have range anxiety, they have the hybrid version and also the PHEV Prime version. The phev versions are a lot more difficult to find though.

[mchampse]

Don’t consider your car as an asset. Drive it into the ground or until it no longer meets your needs and then buy another one.

Cars are made from generic parts that an auto manufacturer puts together. There’s a robust 3rd party parts marketplace that would still exist if Tesla went bankrupt.

EVs will last a long time. They are composed of a battery and a drivetrain. The batteries seem to be lasting longer than anticipated and the most reliable portion of an ICE car is the drivetrain.

[LAMTA]

I actually don't mind the looks of the newer Prius. I didn't mind the old looks, I've owned one before, but they updated the model a couple years ago to look a little more flashy . If you have range anxiety, they have the hybrid version and also the PHEV Prime version. The phev versions are a lot more difficult to find though.

I think the Prius is a bit too light for my comfort. I'm sure they are safe, but having driven one before, they feel (and sound) like you're driving a tin can.

[LAMTA]

Cars are made from generic parts that an auto manufacturer puts together. There’s a robust 3rd party parts marketplace that would still exist if Tesla went bankrupt.

I'm not so sure for Teslas. Repair times are better than 2020-2021, but it can still take months depending on what's wrong. You can always get tires, brakes, and consumables from third party vendors, but the big stuff still has to come from Tesla.

[Pdxnative]

There are a lot of great EVs out there now from established brands. Ford, Chevy, Honda, Kia, Hyundai, BMW, Mercedes, VW, Audi. I’d go look at some of those. Some of the leases are good deals if you only want a 2-3 year commitment.

[wander]

I buy car to drive knowing the value will drop very fast but it does not bother me as I will keep it for a very long time. My current car is 29 years old. I do not see why the OP wants getting rid of the Tesla.

[DownToThis]

We traded our 2019 model 3 in to carvana on November 6th. I really liked it, the reliability and low maintenance was great. the range did decrease a fair amount over the 6 years we owned it. Went with the Kia Ev6 which my wife (the main proponent of getting rid of the tesla) really likes. It does ride better and has better visibility/safety. Lots of good options out there in the EV space

[TomatoTomahto]

. Repair times are better than 2020-2021, but it can still take months depending on what's wrong. You can always get tires, brakes, and consumables from third party vendors, but the big stuff still has to come from Tesla.

And, sometimes they are just not in the mood. We had our center screen CPU require replacement, under warranty, because it frequently rebooted. So, nothing dangerous, but a pretty big PITA. I sold the car after years of waiting for it to be replaced, not because of it, but it didn’t endear me to the brand.

[Cletus Davenport]

I had a Tesla model 3 for several years. Honestly, it was a great car. I liked it a ton. But I sold it a few years back, not because of current events.

I miss that car. One time I needed to get the control arms replaced under warranty. Made an appointment through the app, dropped it off, and it was done in like 90 minutes. From start to finish, it was a great experience.

But if I still owned it today, I’m not sure what I’d do. I would definitely want to get rid of it. If I just couldn’t swing it financially, I’d probably scrape all the Tesla markings off of it, and put some Nissan Sentra badging on it, or something.

I know owning a Tesla doesn’t make you a bad person. But something about having one now, given the actions of their CEO, would give me the ick about keeping it.

For a pure EV replacement, I’d,probably go with a Hyundai.

[delamer]

Just sold our 2016 X. We were original owners (have owned Tesla cars since 2013). Had Carmax and Carvana give us a price. Carvana was $6k higher so went with them. We replaced it with a Volvo C40. We leased the new car in order to get the EV rebate. A little better deal than paying cash. Seems like a great car and is much quieter/no rattles but of course, it's new. With the opening of Supercharger stations to other brands, that made the decision pretty easy in case we can't find another charger on a trip.

We have had a 2023 XC40 Recharge for 2.5 years that has been problem (and rattle) free.

Hope your C40 is the same.

[index245]

Delete

[BashDash]

What do you think is the best new EV deal right now. Happy to pay cash or take loan of a better deal. 2009 accord owner running fine but I like buying a car when I don’t NEED one.

[UpperNwGuy]

I would get rid of the Tesla and buy a car from Honda or Toyota.

[cchrissyy]

I saw very low lease prices on ioniq 5 recently

The bmw i4 offers are good too

[Van]

Wishing you good luck as Teslas are not real popular at the moment.

[MathWizard]

A Toyota Rav 4 hybrid or the plugin (prime) version
might be a good fit. The prime version adds about $10K
to the price, but you get 42 miles of pure electric and no
range anxiety with either. Mileage is in the mid 30's after
the pure electric is depleted.

It's not going to drive itself, but the driver assist is still
pretty useful.

[HE Pennypacker]

Yes EV in general are not fairing well at the moment. I think ford has trouble with a large Mach E inventory on dealer lots. Definitely deals to be had if you look. The tax credit is still available too not sure how much longer though…

[dcdowden]

We recently got a 2025 Camry for my wife and she loves it. All Camry's are Hybrids now with about 45 mpg rating. My wife has achieved that even in winter weather. Camry doesn't come in PHEV version, but I had looked at the difference between the Prius HEV and PHEV. The PHEV Prius was $4K more than the HEV Prius, and the Prius is rated at 50 MPG. My wife only drives about 5,000 miles per year which would be about 100 gallons of gas. Even at $4/gallon for gas, that is only $400/year. So if the Prius PHEV saved half that would be about $200/year savings in gas costs. The opportunity cost of the additional $4K at 5% earnings would be $200 a year. So it was at best a wash for us, plus the added inconvenience of having to plug it in every night. So my conclusion was that regular hybrids were best for us. My wife didn't like the Prius, so she wound up with the larger Camry.

[RickBoglehead]

Yes EV in general are not fairing well at the moment. I think ford has trouble with a large Mach E inventory on dealer lots. Definitely deals to be had if you look. The tax credit is still available too not sure how much longer though…

The Ford Mach-E hasn't qualified for the EV tax credit in quite some time.

[happyisland]

Based on recent sentiment, it appears the perfect time to buy a used Tesla.

Sounds like trying to catch a falling knife...

[Yukon]

Chevy bolt might be an option for you.

[mchampse]

Cars are made from generic parts that an auto manufacturer puts together. There’s a robust 3rd party parts marketplace that would still exist if Tesla went bankrupt.

I'm not so sure for Teslas. Repair times are better than 2020-2021, but it can still take months depending on what's wrong. You can always get tires, brakes, and consumables from third party vendors, but the big stuff still has to come from Tesla.

Model 3 was introduced in 2017. Currently Tesla’s have a 4 year warranty on everything and 8 years on the battery and drive train.

When I Google for 3rd party Tesla repair, I get a few shops in my area. That will only increase as more Teslas come off warranty.

If it’s an insurance repair or warranty it has to come from Tesla. Outside of that, it looks like you can get 3rd party parts.

[Jack FFR1846]

If you're looking for a car that's more comfortable, cheaper, more reliable, can be repaired at thousands of places, that you can buy parts for at NAPA and have greatly reduced insurance and never have range anxiety, go buy a new Camry. All are hybrid which Toyota's been doing now since, it seems like, Fred Flintstone's car. If you happen to live in New England, with our electric rates, you can do the math. A coworker bought a FWD Camry hybrid and being a thorough engineer nerd has data showing 56 mpg winter and 59 mpg summer. My electric rate with a cheap rate company is 38 cents a kWh and I just bought gas yesterday at the station on Rt 126 in Ashland just south of the Market Basket for $2.72 a gallon. So that Camry costs significantly less than a Tesla per mile in my area. Let's do some quick math.

Camry, let's just say 57 mpg.
Gas $2.72/g

Tesla model 3 RWD (the most efficient EV on the planet). I'm finding 0.185 kWh/mi
38 cents/kWh for me

Camry
($2.72/g) / (57 m/g) = 4.77 cents per mile

Tesla
38 cents/kWh * 0.185 kWh/mi = 7.03 cents per mile

So not quite half, but a Tesla all around will never be cheaper in any way than a new Camry Hybrid. And you'll never have to wait for 20 minutes to charge.

[WoostaGal]

If you're looking for a car that's more comfortable, cheaper, more reliable, can be repaired at thousands of places, that you can buy parts for at NAPA and have greatly reduced insurance and never have range anxiety, go buy a new Camry. All are hybrid which Toyota's been doing now since, it seems like, Fred Flintstone's car. If you happen to live in New England, with our electric rates, you can do the math. A coworker bought a FWD Camry hybrid and being a thorough engineer nerd has data showing 56 mpg winter and 59 mpg summer. My electric rate with a cheap rate company is 38 cents a kWh and I just bought gas yesterday at the station on Rt 126 in Ashland just south of the Market Basket for $2.72 a gallon. So that Camry costs significantly less than a Tesla per mile in my area. Let's do some quick math.
...
So not quite half, but a Tesla all around will never be cheaper in any way than a new Camry Hybrid. And you'll never have to wait for 20 minutes to charge.

Great information. Thanks.

[Theredtelephone]

We recently purchased an Equinox EV 2025 and love it.

We were able to apply the full $7500 credit at the dealership last year - not sure how much longer that will last, however.

[zlandar]

“ My concern is about the company's long term viability. Tesla sales are down worldwide, resale values have tanked, the company stock is nosediving, the vehicles are getting even more expensive to insure, and there's really no upside in sight. I'm concerned about owning a car that may be worthless in a year or two and/or impossible to get parts for. It's the same reason I wouldn't buy a Polestar or Rivian right now.”

If you were driving a Lucid maybe. Rivian would be the next EV maker to be concerned about. Even then I would argue you are locking in your losses by trading in a perfectly useable EV. Nearly all EVs bought new suffer steep depreciation.

Tesla has been around for over a decade. It has a market cap of $783b. Toyota is $217b.

You are panicking and making a very irrational decision.

[munemaker]

Based on recent sentiment, it appears the perfect time to buy a used Tesla.

Sounds like trying to catch a falling knife...

Yes, if you are buying it with the intention of trading it in the near future. When I get rid of a car, there isn't much left of it.

Personally, I don't get this avoiding a brand for political reasons. I buy the best value product for my needs regardless of who makes it or where it comes from. But hey, it's a free country.

disclaimer: I don't own an EV.

MUN

[telemark]

Yes EV in general are not fairing well at the moment. I think ford has trouble with a large Mach E inventory on dealer lots. Definitely deals to be had if you look. The tax credit is still available too not sure how much longer though

Perhaps surprisingly, new EV sales are up 28% over the same period in 2024.

https://arstechnica.com/cars/2025/03/de ... this-year/

[hunoraut]

My concern is about the company's long term viability. Tesla sales are down worldwide, resale values have tanked, the company stock is nosediving, the vehicles are getting even more expensive to insure, and there's really no upside in sight. I'm concerned about owning a car that may be worthless in a year or two and/or impossible to get parts for. It's the same reason I wouldn't buy a Polestar or Rivian right now.

How do you figure the company is not viable?

It has $35B in cash, $70B in book value, tint debt levels, net margin and roi positive (both well above sector), and ltm sales are flat (not down).

The last time stock price mattered to operations of the company was 5 years ago when they raised money through stock issuance, in 2 tranches of $5B. Last quarter alone they generated $2B in free cash flow.

If resale values have tanked, selling your car now is like selling stock at the bottom, isnt it?

[BiggerSaver]

I would say trade in your car if you want or need a different car. Otherwise, the rational doesn't make sense.

YOY, sales were down 1%.

In terms of long term viability, you may be taking in too much social media and click bait. There is currently a lot of nonsense out there, some of it intentional misinformation and some of it clickbait.

In terms of resale value, I don't have much to offer there. Recent sales information suggest demand for used EVs is the biggest growing market. At the big lot car places, EVs are turning in 23 days vs. non EVs in 41 days. I suspect as used EV prices grow and normalize, this will equalize.

[EnjoyIt]

Based on recent sentiment, it appears the perfect time to buy a used Tesla.

Sounds like trying to catch a falling knife...

Be greedy when one is fearful.

Also, I love "catching a falling knife." I call it rebalancing and it has done wonders for my portfolio.

[EnjoyIt]

Wishing you good luck as Teslas are not real popular at the moment.

Only in certain circles. They are still very popular in other circles.

Also, I don't make purchases based on a CEO. I make purchases based on the quality of the product for the price. Teslas are still a very good value for what you get.

[enad]

Whatever other brand EV or Hybrid you purchase, inquire how long it would take to get certain parts. A neighbor had a minor fender bender and EV was in the shop for 6 months (waiting for the part to arrive all the way from Europe).

[index245]

Delete

[StevieG72]

Want a Fisker?

Unfortunately against level headed advice, my friend bought one and had it delivered to his home. He was in a medical rehab facility in very poor health. He passed away a few weeks later having never drove the vehicle. His wife is now stuck with the burden of unloading this vehicle.

[index245]

Delete

[newparent7]

If you drive the car into the ground, resale value is irrelevant.