Tesla Model Y Resale Value: Do They Hold Their Value? What To Know
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The Tesla Model Y is one of the most popular Elon Musk creations, offering a mid-size crossover design with a purely electric base. It might seem tempting to jump in and invest in this vehicle, but there are other items to consider. For example, you might want to think about the Tesla Model Y resale value.
The longer a vehicle can retain its value, the more money you will make on the machine when it’s time to sell and move on to a different car. The same consideration should happen in a gas or electric vehicle. Keep reading to learn more about the depreciation rate of the Tesla Model Y and other helpful information.
What Is The Depreciation Rate of a Tesla Model Y?
The depreciation in an electric vehicle is a little different from other vehicles. The battery tends to die over time, which means there is a quick acceleration once the parts start going downhill. Let’s dive deeper into the Tesla Model Y resale value.
According to carsdirect.com, the depreciation for the Tesla Model Y can be significant, as it is in all car options from Tesla. Over five years, the value of the Tesla Model Y can depreciate as much as 50%, which is a huge number to consider for those who want to make money on their vehicle.
The rate of depreciation and value of the Tesla Model Y is why it’s crucial to take care of it. If you want to sell your Tesla Model Y, it’s vital to start the process sooner instead of later.
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How Much Will Tesla Model Ys Resell For?
A Tesla Model Y is no cheap investment, with some lower-end versions selling for as much as $44,000 for the base price. If you want to sell the vehicle, how much will you be able to make on the machine?
According to edmunds.com, if you were to trade in a Tesla Model Y right now, you would get $36,000-$38,000 if the vehicle were in outstanding shape. However, if the vehicle were turned in in rough condition, you would only be able to get $34,000-$37,000 for the car, which is much lower than the asking price.
What Is The Best Year To Purchase For Value Longevity?
There are several years available for the Tesla Model Y, but not all are created equal when considering longevity and thus the resale value. Several years are better than others, so we recommend sticking with them if you want to make more from a sale.
Here are the best selections available for the Tesla Model Y:
- 2022 Tesla Model Y
- 2023 Tesla Model Y
These are the most dependable of this car.
The longer you drive the Tesla Model Y, the more repairs it will need - especially in the technology areas of the vehicle. However, these versions are far less likely to run into trouble than some of the older, less dependable years. The newer you can go with the Tesla Model Y, the better it will be for longevity.
HOW LONG DO TESLA MODEL YS LAST?
There’s an optional third-row addition for seating for two more in the machine. If you’re looking to invest in this car, you might wonder - how long do Tesla Model Ys last?
What Is The Worst Year To Purchase For Value Longevity?
When checking out the Tesla Model Y resale value, it’s also vital to examine the worst years for the Tesla Model Y to determine which versions have excellent value longevity. As mentioned, it’s always better to go newer when it comes to the Tesla Model Y.
Here are some of the worst choices available for the Tesla Model Y:
- 2020 Tesla Model Y
- 2021 Tesla Model Y
These are cheaper but more likely to break down on you.
The biggest issue with these years is that they are older versions of the Tesla Model Y, so therefore they are far less likely to have updated technology and aren’t as sleek as the newer models. The only reason they’d be worth it is if you wanted to save money.
Which Tesla Holds Its Value Best?
Maybe you’re determined to buy a Tesla but only want to invest in a version of the vehicle that has an excellent resale value. In that case, does the Tesla Model Y resale value come out on top or are there other Tesla creations that do a better job at retaining their value?
According to iseecars.com, here are the Teslas that do the best at retaining their resale value:
- Tesla Model Y
- Tesla Model X
- Tesla Model 3
- Tesla Model S
These are excellent Tesla selections for resale value.
As you can see, the Tesla Model Y comes out on top. If you want a second option, you’re safe with the Tesla Model X or the Tesla Model 3.
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Do Teslas Generally Hold Their Value?
The Tesla Model Y resale value is solid after a few years of purchase. Unfortunately, like other Teslas, the value starts to taper off after the first five years go by. They are semi-reliable, but they aren’t the best of the best if you’re looking for a vehicle that retains its price point.
Still, Teslas are decent in the electric car world. They are popular, which helps contribute to the appeal over the long term.
Final Thoughts
The Tesla Model Y resale value is decent, but it’s crucial to sell the Tesla Model Y sooner rather than later if you want to make the most of your used electric option. The Tesla Model Y is the best choice if you’re looking for a valuable contender from the Tesla name.
At the end of the day, it’s up to you to determine if it’s the right choice for your life. The Tesla Model Y is a decent selection in the electric market.
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