A man who bought a Tesla Model Y in 2022 for US$62,990 was completely stunned after discovering how much the car is worth today.
The owner of the Tesla electric vehicle, who lives in the United Kingdom, decided to take it to WeBuyAnyCar for a price evaluation. It was there that he found out he had lost around US$22,000 to US$27,000 in the car’s value in just three years.
“This represents approximately US$650 to US$750 per month in depreciation alone, not counting insurance, charging, maintenance—nothing. Pure evaporation of value,” he vented.
In addition, the current prices of newer, more technologically advanced Teslas also make it harder to sell used ones. “Why would anyone pay US$40,000 for my 2022 model with 65,000 km on it when they can buy a brand-new 2025 model for US$44,000?” he argued.
Previously, a spokesperson for WeBuyAnyCar explained why Tesla vehicles depreciate so much. “As soon as a car leaves the dealership, it begins to lose value. Typically, this is up to 35% in the first year for gasoline or diesel vehicles,” he said.
“This figure is even higher for electric vehicles, which depreciate more quickly and usually have higher prices, so a greater loss in value due to depreciation can be expected. In some cases, up to 50%.”
“Teslas are currently depreciating faster than most models, and other market factors also affect their resale value,” he added, citing age, mileage, maintenance history, condition, and even the number of previous owners as potential depreciation factors.
“Depreciation can come as a shock to some car owners, so it is important to always be aware of what to expect when making this purchase,” concluded the WeBuyAnyCar spokesperson.
Photo: Unsplash. This content was created with the help of AI and reviewed by the editorial team.
