The Tesla Model S has been available on the market since June 2012 and over the 12 years of its life, we’ve seen three generations of it. While it did begin as a reasonably upmarket electrical sedan, Tesla’s aggressive pricing strategy resulted in steep cuts, which in flip meant costs of used Model S automobiles crashed within the final 12 months. What is a nightmare for present homeowners hoping to recoup a few of their hard-earned money, grew to become a discount hunt for these wanting to attain their first Model S.

The Tesla Model S established itself as the top of the EV world, and for a few years its title went unchallenged. While now the likes of Lucid Air could attempt to snatch the crown from the Model S, Tesla fights again with improved specs and decrease costs. Over the years, the fleet of used Teslas has been rising steadily, and it lastly provides what different automakers battle with – selection. Some examples could also be high-mile freeway heroes, and a few could also be uncommon bargains, however in case you ever hoped for an inexpensive Model S, this text is an efficient method to begin your search.

In order to provide the latest and correct data potential, the info used to compile this text was sourced from Tesla and different authoritative sources, together with JD Power.

How Much Can You Save On A Used Tesla Model S

While the Honda Insight may be seen as the EV precursor and the Nissan Leaf claims the title of the first mass-produced electric car, it’s with out a shadow of a doubt that the Tesla Model S is the one which modified the best way we have a look at electrical automobiles. First launched again in 2012, this glossy electrical sedan introduced cutting-edge know-how to the market, along with an really usable vary. It launched us to new ranges of efficiency, till now reserved for the fastest supercar homeowners – all at a comparatively engaging value.

Depreciation Is Your Friend In The Used Tesla Model S Market

The Performance model of the Tesla Model S went on sale in 2012 for $87,400 – not likely chop change by any means. Its 416-horsepower electrical motor powering actual wheels with 443 pound-feet of torque meant a 0 to 62 mph dash in 4.4 seconds – a tenth of a second behind the $90,000 (back in 2012) BMW M5 F10.

Thankfully, Tesla automobiles will not be resistant to depreciation. That means important value reductions over time and an opportunity to discover a very quick and very comfortable Model S and save doubtlessly hundreds of {dollars} within the course of. Yes, the speed of depreciation is determined by many elements – mileage, put on and tear, and the broader market demand – however even a few-year-old Model S can prevent a bunch of money, if you could find the appropriate mannequin.

Play The Numbers Game Right

While it is subsequent to unimaginable to foretell the long run costs of the used Tesla Model S, we’ve an absolute treasure trove of knowledge courtesy of JD Power. Here are some common first generation Tesla Model S costs, with out taking mileage or gear into consideration:

Used Tesla Model S Gen-1 Average Prices

(Source: JD Power)

Tesla Model S vs. Tesla Model S Plaid – Ultimate Showdown

The Tesla Model S shook up the automotive world and it grew to become the last word sleeper. In 2021, Tesla launched the long-awaited Palladium replace – a third generation of the Model S. It meant a serious energy increase and, for the primary time, a tri-motor high-performance Plaid model. You now not wanted bottomless pockets to grow to be a king of the drag strip. The Model S Plaid was made to obliterate competitors, and it went on to interrupt numerous velocity information.

The One To Rule Them All

No one has ever stated that the civilian Model S was gradual. The 2015 P90D already boasted a good 772 horses and was able to coping with the 0-62 mph spring in 3.3 seconds. The second era launched P100D with the identical energy output and elevated torque of 723 pound-feet with the 60 mph dash taking solely 2.5 seconds. The Plaid model took it to an entire new degree in 2021 – 1,020 horsepower, 1,047 pound-feet of torque, and two-second dash time grew to become infamous specs.

If the Plaid is what you at all times wished, however could not fairly abdomen the unique $119,990 – in the present day could also be your fortunate day. According to JD Power, early units of Model S Plaid retail for as little as $62,425. If you possibly can stretch your price range just a little, then $70,000 should purchase you a clear 2022 mannequin, with low-mileage examples demanding as a lot as $76,270.

Why Is Tesla Cutting Prices And What It Means For Used Cars

Tesla made headlines early in 2023 when, out of nowhere, the corporate started slashing prices for its automobiles. These weren’t simply minor changes – hundreds of {dollars} have been lobbed off to preliminary applause from the purchasers. Finally, Tesla has grow to be inexpensive for a lot of extra folks. After the preliminary pleasure, the shock of used Tesla costs plummeting caught unsuspecting homeowners abruptly.

The Domino Effect On Used Car Market

All Tesla wished was to spice up its gross sales, however because of its drastic value cuts, the worth of used Teslas fell to the lowest levels on record. For a short time, it was potential to purchase a brand-new Tesla for lower than a two or three-year-old used mannequin. The used costs needed to regulate and many individuals who purchased their first EV earlier than the 2023 value cuts, ended up feeling short-changed.

Not All Teslas Are Created Equal – Which Models Offer The Best Resale Value

Even if you issue within the current value cuts and the value of used Teslas falling down in consequence, they really maintain their worth remarkably good. Some fashions stand out above the remainder, holding on to a better proportion of their unique value, even after a number of years of possession. If you concentrate and select your Model S properly, it might probably imply a doubtlessly higher resale worth if you resolve to promote it.

The Resale Kings Revealed

When it involves the Model S, there are clear crowd favorites. The traditional used automobile guidelines apply – the decrease the mileage and the upper the spec – the upper the resale worth. In the case of the Model S, it’s the battery dimension and whether or not it is a single or dual-motor mannequin that issues. The Tesla Model S is in its third-generation, and the first-gen automobiles supply the bottom ticket costs, however their batteries are previous and on a small aspect of issues – and the battery replacement will be an costly journey. The Model S had its reliability issues and 10 years within the EV world is a very long time whereas among the older Teslas could also be tempting, their tech is nothing just like the one we’ve in the present day.

The second era Tesla Model S, with a 95 kWh battery pack and two electrical motors seems to hold on to its value the best. The fashions with smaller batteries have been initially cheaper to purchase, however clients now favor automobiles with an extended vary. Some used Model S automobiles include free Supercharger entry for all times, making the automobile primarily free to run, and that’s mirrored in increased asking costs.

Any Model S with the newest FSD {hardware} will maintain its worth higher and can demand higher costs. The costs of used Model S with out the {hardware} and with smaller batteries, will maintain falling on the quickest price. And though the Plaid variations will at all times demand the best premiums, their costs will fall by the most important proportion. But if you’d like the ultimate EV experience, Plaid is the way to go.

Getting The Best Deal On Your Used Tesla Model S

There is a lot extra to discovering a good deal on a used Tesla than simply searching fashionable car-selling web sites. You ought to at all times take into account Tesla’s own certified Pre-Owned program. While the non-public vendor could supply a barely lower cost, going the official approach could imply an additional guarantee, possibly even a servicing package deal. Private Tesla homeowners boards are an ideal place to search for your subsequent Model S and a few EV-specialized dealerships may have a good choice. Then there’s at all times a query: what occurs along with your present automobile – commerce it in or promote it by yourself?

Know What To Look For

This is the place articles about buying used electric cars grow to be very helpful. Before you fall in love with the Model S you need to purchase, give a very good thorough mechanical inspection – if you cannot do it, rent somebody. Have the battery well being inspected and examine the service report. Look for the same old beauty injury and spend a while on the proprietor’s boards – they’re the very best sources of data in the case of issues that may go improper.

The remaining step is the artwork of negotiation – don’t be afraid to ask for a lower cost. Do your homework on used Model S costs, and search for different automobiles in the identical space. Always examine the automobile’s historical past and ensure there isn’t any excellent finance secured on it. Be ready to stroll away if the worth is exterior your price range – there are always other Model S vehicles out there. And remember that Model 3 and Model Y supply as a lot enjoyable however are newer and infrequently extra inexpensive. Then, there’s at all times the Model X for the last word wow issue – nothing says “future” like its gullwing doorways, and within the Plaid model, it merely has no competitors.