Published in August 13, 2020 |
by Johnna Crider
August 13, 2020 from Johnna Crider
Want some evidence that Tesla vehicles can appreciate in value over time? Look no further than a Tesla owner who was surprised to discover that the value of her car did not decrease, but increased, in the past month.
Tesla Joy shared a picture from Credit Karma on the value of its 2018 Tesla Model. It has grown by almost $ 3,000 since last month. Its current value is $ 34,500. The Model 3 type it has is a long distance.
Wait, do I see this right? Has my car value actually increased? 😲 pic.twitter.com/9HyY2zg28l
– Tesla Joy (@TeslaJoy) August 13, 2020
I asked her to share her thoughts with me. “My opinion is that I am shocked. (Emoji with tears of joy) I have only known cars that depreciate as soon as you remove it from the lottery, but without evaluating it after 2 years of ownership,” she said. The first emotion she felt, she told me, was disbelief. “I had to do a double to make sure I read it right,” she said.
Tesla Joy is not the only one receiving these notifications from Credit Karma. On Reddit, user srgmodel3 shared a snapshot of their announcement. Their Tesla Model 3 AWD Long Range rose to $ 3,225 in value from last month. “I received this announcement through Credit Karma today. I know this is not ‘official’, but it is still nice enough to confirm their Tesla value much better than any other car. Not a pity! he wrote srgmodel3.
One commenter noted that their car was valued at $ 7,000 in value due to theft starting to be an option at the price of one performance ($ 50,000 to $ 57,000). Stealth refers to a Performance Model 3 without red brakes, spoiler tape and metal petal covers. They have Performance software and red line under the symbol. Looking at the comments, it is clear to see that a debate is taking place. Some believe that Credit Karma does not really count while others confirmed their growing values. PaleInTexas noted that at the end of 2018, Carmax offered them $ 34,000 for the 2018 Model 3 Performance. The car had 13,000 miles on it. They noted that the assessment could be nationwide.
Whaat. Even the karma of credit is seeing this ?? #modelx #Tesla pic.twitter.com/sk9gQbimhc
– VM ❤️ Model Y (@ vm_one1) 12 August 2020
It still stands to reason that the Tesla Model 3 has better values than other vehicles. While it has the largest number of predecessors of any car ever made, it has proven to be the vehicle that loses the least amount of its initial value after one year. “The Tesla Model 3 had the highest number of pre-orders of any car ever produced and its backlog of orders further helped the high demand for the vehicle,” LySphong of iSeeCars said in an email sent to CleanTechnica earlier this year. iSeeCars had revealed that the Model 3 had – until now – The lowest depreciation of any model in the US market after one year. How low? check:
Yes, its value has depreciated, on average, 5.5% after a year, according to iSeeCars, while the second best Ford Ranger had seen its value fall by 11.4%
The BMW 3 Series has seen a depreciation of 38.2%. Thirty-eight points two percent! Is there any wonder that Model 3 dominates in sales of medium-sized luxury vehicles?
In addition to the slower devaluation, some CleanTechnica analyzes have shown that the used Tesla Model 3 are on the market for a much shorter time than their competition, which certainly contributes to their lower depreciation overall.
The Model 3 is not the only valuable Tesla product
Tesla is known for making EVs that are durable, stylish, beautiful and durable. Last year I wrote an article that included a conversation on Reddit about a Model S. The owner shared that his battery was at 98% capacity 7 years after he got his car. It is true that Tesla vehicles, like all cars, lose some of their value over time, but there is a chance that it changes for a short period of time. Once Complete Suicide is implemented, and in a world where regulations allow robotaxi services, Elon Musk and many others think that Tesla vehicles can be valued (a very large deal) compared to their initial purchase price.
What keeps these machines from losing value as their competitors do is a set of things that go from the way they are made to the software installed on them. The latter is an ocean of wonders for anyone who dives. It allows a car to do more than regular cars do. For example, I do not see a BMW that sounds fart and you can not sing karaoke in them. For many, these are features that have been added since their in-car purchases – as well as the ability to watch Netflix, Hulu, or YouTube on the car; some video games; and much more advanced Autopilot. Biggie, however, will be if Full Self Drive is achieved and your car can suddenly crash the moon like a robot.
“I’m extremely confident that Level 5 or basically full autonomy will happen, and I think it will happen very soon. I think, at Tesla, I feel like we are very close to Level 5 autonomy. I think – I’m sure we will have the basic functionality for full Level 5 autonomy this year, “Elon Musk said in his video presentation at the AI Virtual Conference held last month.
Just think, 50 years from now, the value of these cars will increase because of how historic they are. Model 3, especially the older one, will be considered “OG” by the younger generations. Other vehicle manufacturers will most likely build their own versions of electric vehicles based on roadmaps that Tesla has set for them. Tesla has already set the bar high – when it comes to not only electrical cars, but cars in general. Many associate Tesla with luxury, and even a used Tesla would be appreciated for new models from brands like Mercedes-Benz or Audi.
Appreciate the originality of CleanTechnica? Consider becoming a CleanTechnica member, supporter, or ambassador – or a Patreon advocate.
Sign up for our free daily newsletter or weekly newsletter to never miss a story.
Do you have a tip for CleanTechnica? Send us an email: firstname.lastname@example.org