We've been saying for years now that Tesla's vehicles have a high resale value. It hasn't been uncommon over the years to see pre-owned Tesla vehicles on the used market that cost about as much as, if not more than, a new model.
That said, the situation has amplified of late, and now it seems people are making a significant amount of money selling models that they've owned for years. Not only are older models selling for higher prices than new models (even as Tesla continues to raise its new car prices), but also, according to Electrek, some folks could be making $6,000 to $10,000 on a car they've owned and used for years.
At this point, it's likely we all know a typical car has never been a good investment opportunity, at least in most "normal" cases. Cars lost plenty of value as soon as you drive them off the lot. However, with the shortage of new cars, the used market has been booming, and prices are high.
People have taken to selling their newer cars on the pre-owned market for a premium over what they paid new. So, to be clear, this is not just related to Tesla, though it seems the electric automaker's vehicles are selling at an even higher premium on the used market than many other cars.
This is likely due in part to Tesla's growing popularity, along with the popularity of EVs in general. Moreover, the demand for Tesla's vehicles is so high that you can't get a new one for many months after placing an order.
To get a grasp of used prices on Tesla's models, all you have to do is visit any major online used car sales website. However, Electrek looked specifically at Tesla's own used car sales to see where prices are headed. The publication points out that the US automaker handles much of its used inventory, and unlike other used car websites, Tesla's prices are non-negotiable.
One of many similar examples includes a 2020 Model Y with more than 30,000 miles on it that's selling on Tesla's pre-owned site for $1,000 more than the exact same configuration when new. However, based on current prices, which the automaker has been raising often, the owner of such a car likely paid $6,000 to $10,000 less for it a few years ago. So, if it sells on the used market for the advertised price, owners basically got to drive a car for a few years for free, and still make a profit.
Electrek goes on to mention a 2021 Model Y with 15,000 miles on it listed for more than $80,000. Additionally, the website found a many older Model 3 sedans that are priced higher than new models.
The publication also claims that Tesla may be adding its Full Self-Driving Capability to the used models it's selling, which causes prices to soar even higher. Tesla recently announced that it will no longer allow lease buyouts, so perhaps it plans to take beef up its used inventory and take advantage of the high selling prices even more into the future.
We encourage you to check out used Tesla models on various websites to get an idea for yourself. Feel free to share what you find in our comment section below. Have you bought a used Tesla? If so, share the details with us and our audience.