Here’s How Much A 5-Year-Old Tesla Is Worth Today

Over the years, Tesla cars have impressed on multiple fronts, like performance, range, and practicality. More importantly, Tesla has managed to make electric cars mainstream with popular models like the Model 3 and Model Y. So when you think of buying a new or a used electric car, it won’t be surprising if Tesla is one of the top names to pop in your head.

Earlier this year, iSeeCars reported a significant drop in the prices of used electric cars in the past year, compared to gasoline and hybrid vehicles. As a result of that and the recent slowdown in overall EV sales, companies including Tesla have been making significant massive price cuts to their models. This, in turn, has also affected the resale value of electric vehicles. Tesla being the most popular among them, let’s look at what a 5-year-old Tesla is worth today.

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2019 Tesla Model 3

Average Used Price – $20,431 – $28,544

The Tesla Model 3, first launched in 2017, was the third offering from the automaker after the Model S and Model X. What made it different from the latter two is its relatively accessible price point of $35,000, which made it an actual ‘mainstream’ offering from Tesla. There’s no doubt then that it was Tesla’s most popular model back in 2019.

According to J.D Power, the average price of a 2019 Tesla Model 3 ranges between $20,431 and $28,544, depending on the trim. A similar price trend can be seen at Edmunds, for vehicles having less than 60,000 miles on the clock.

Powertrain

Even the Standard Plus trim offers impressive performance, even by today’s standard. The Long Range and even the Performance trim offered a range of 322 miles back then, but you should expect the range in a used model to be less compared to a new car, due to battery degradation. Speaking of the same, Tesla claims that the Tesla Model 3 retains about 70-percent of its capacity up to 100,000 miles, and is built to last for about 300,000 to 500,000 miles, so that’s one less thing to worry about.

Here’s How Much The Tesla Model 3 Depreciates After 5 Years

According to iSeeCars, the Tesla Model 3 loses about 52.4 percent of its value to depreciation, which is also reflected in the prices in the used car market. The depreciation rate is nothing out of the ordinary as the average range of depreciation for an electric car in the same segment varies between 52.4 percent to 66.4 percent.

Charging Costs

The above charging costs have been calculated using the national cost of electricity, according to the U.S. Bureau of Labor And Statistics. The national average stands at 17 cents per kWh, whereas it is slightly cheaper at 16.8 cents per kWh in cities like Chicago. On the other hand, the charging costs per kWh can go up to 42 cents in states like California.

Pros

• Great performance at accessible prices.
• High on technology.
• High on safety.

Cons

• Build quality isn’t the best.
• Less usable range on highways.
• Misses out on some basic features like a blind spot monitor.

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2019 Tesla Model S

Average Used Price – $26,865 – $50,067

The Tesla Model S deserves credit for establishing the company as we know it today. With the Model S, Tesla showed the world that electric cars can be fun, while being sustainable and affordable to run. Just like for its SUV counterpart, Tesla replaced the 75D, 100D, and P100D trims with the simpler Standard, Long Range, and Performance models for the Model S.

The average price of a used 2019 Tesla Model S according to J.D Power ranges between $26,865 for the older Standard 75D to $50,067 for the aptly-named Performance Ludicrous model.

Powertrain

Being a sedan, the Tesla Model S is able to make the best use of its powerful electric motors, especially the Performance model with Ludicrous mode, which managed to complete the 0-60 mph run in just 2.4 seconds. The 400-mile Tesla Model S was launched in 2020. Until then, the aptly named Long Range model offered a maximum range of 335 miles on a single charge.

Here’s How Much The Tesla Model S Depreciates After 5 Years

Like its SUV counterpart, the Tesla Model S depreciates quite steeply. According to iSeeCars, it loses about 63.3 percent of its value in depreciation over a period of five years. The average range of depreciation for a luxury electric car lies between 61.2 and 76.2 percent.

Charging Costs

*Costs calculated with the same method as the Tesla Model 3*

Pros

• Neck-snapping performance.
• Cabin loaded with tech.
• Good amount of cargo space.

Cons

• Built quality is not the best.
• Misses out Android Auto and Apple CarPlay integration.
• Not as luxurious as similarly priced sedans.

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2019 Tesla Model X

Average Used Price – $29,216 – $48,767

The Tesla Model X is still one of the fastest seven-seat SUVs, with a sub-three-second 0-60 mph acceleration time. And, of course, its real party trick is the ‘Falcon Wing’ doors. Mid-2019, Tesla simplified the trims for the Model X by offering just three trims and a standard 100 kWh battery pack replacing the 75 kWh battery pack on some variants.

The average used price of the 2019 Tesla Model X according to J.D Power ranges between $29,216 for the Standard Range model and $48,767 for the top-of-the-line Performance Ludicrous model.

Powertrain

As mentioned before, all the trims of the 2019 Tesla Model X come with a 100 kWh battery pack, but the performance was locked with software. The base trim came equipped with the necessary hardware required for best performance. All you need to do is pay extra to unlock the extra range or performance. The Extended Range trim, offered up to 325 miles of range, while the Performance variant with 289 miles of range also got an optional Ludicrous mode. In this mode, the electric SUV can be propelled from 0-60 mph in a mind-boggling 2.8 seconds!

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Here’s How Much The Tesla Model X Depreciates After 5 Years

Being a luxury electric SUV, the depreciation rates on the Tesla Model X are quite high. According to iSeeCars, a Tesla Model X loses about 60.8 percent of its value to depreciation over five years. Just like the Tesla Model 3, though, the value is still in the lower range of depreciation, which can go up to 73.6 percent for some luxury electric mid-size SUVs.

Charging Costs

*Costs calculated with the same method as the Tesla Model 3*

Pros

• Impressive performance.
• 100 kWh battery pack provides ample range.
• Spacious interiors with space for seven occupants.

Cons

• Built quality is not the best.
• Misses out Android Auto and Apple CarPlay smartphone integration.
• Massive windshield lets in a lot of heat and sunlight inside the cabin.

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Things To Consider Before Buying A Used Tesla

There is no denying that the price of a 5-year-old Tesla car might seem quite lucrative, but there are a few things you need to consider before deciding to buy one. For starters, running an electric car can be relatively affordable, but repairs to an out-of-warranty battery can set you back by $12,000 to $15,000. Additionally, Tesla cars are also known to have higher insurance premiums due to the higher costs of repair their advanced technology and unique design features.