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Tesla car values are crashing. Here's what owners & buyers should know!

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You actually won’t believe what Tesla’s trade-in estimate is for my 2018 Model 3 & my new 2022 Model Y. Here's what you should know about current Tesla car values as an owner or buyer. For many recent Tesla buyers the latest price drops were infuriating because the car they just bought a month before can now be bought for $13,000 cheaper (as in the case of a Long Range Model Y). But when you buy something from someone else the terms are simple: the seller offers an item at a price, and if you as a buyer agree to that price, then that is solely a decision made by you, the buyer. Back in 2010 I bought a used Pontiac for $12,000 because that’s all I could afford, and I spent months researching to find the best car that fit my budget. When buying a Tesla if you do your research on the price history you would have seen that Tesla had steep price increases over the past 2 years. When people come to me and ask me for advice for buying a Tesla I usually tell them: Don’t buy a Tesla or any new car for that matter unless you absolutely need it right now, you can afford it and plan to keep it for a long time. I bought both my Teslas with a plan to keep them for at least 10 years, and I think more people should have that long term mindset when buying a car. All new vehicles (Tesla or not) depreciate about 20% as soon as you drive them off the lot, and sometimes they depreciate up to 30% within the 1st year. If you’re a Tesla owner I know that’s hard to digest because Elon told you differently back in 2019 when he said he believed that if you buy a Tesla today, you are buying an appreciating asset – not a depreciating asset. Kelley Blue Book says my 2022 Model Y that I bought for $55,000 is worth more than that if I sell it right now. But Tesla’s estimated trade-in offer for that is now $39,000. I bought my 2018 Model 3 for $58,000 (including FSD) and now Tesla’s estimated trade-in offer for that is only $19,000. And that estimate includes the value of Full Self-Driving which is currently being sold by Tesla for $15,000 so that means my Model 3 is only worth about $4,000 in Tesla’s eyes. It’s almost always better to sell privately to get the most money. But I think it’s funny that my car has a software feature that is technically only getting better with time, but Tesla is basically valuing that feature as worthless during the trade-in. It doesn’t matter to me what my car’s values are because I don’t plan to sell them any time soon. If you plan to keep it for a long time like me, it shouldn’t bother you what the estimated values are because over time nearly all cars values go down. I bought my RWD Model 3 in 2018, then less than a year later Tesla offered a better AWD Model 3 for $10,000 less than what I paid for mine. On the other hand, a similar situation happened with Chevy and they offered refunds to buyers who bought a Chevy Bolt before the price drops so Tesla could technically do the same thing, but I doubt they do. If Tesla decides to offer something for recent buyers I think 1 year of free Supercharging or 1 year of free FSD subscription would be nice. That wouldn’t set Tesla back much

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