Tesla’s Model 3 was the company’s first offering with a focus toward the budget-friendly. Dubbed as "cheap" in the sense of affordability, Tesla worked hard on bringing the small sedan to market. At first, patrons were promised a sub $35,000 car, but with options, you would come to expect in a Tesla-like autopilot the price quickly approached about $50,000 before tax incentive rebates.
Not to mention the markup that early owners took advantage of, selling the vehicle for almost double the price they purchased it for because of the low inventory and high demand. Thanks to depreciation and a growing supply market, that is no longer the case. You can get into a Tesla Model 3 for an affordable price these days.
Here's a look at how much a used Tesla Model 3 costs today. If you are thinking about buying one, you have three options.
Buying Used From Tesla
With production and inventory at all-time highs for the electric compact sedan, you have your choice of who you want to purchase it from. If you go to Tesla's website, they have quite a few options for customers looking to buy a used Model 3.
Starting with the base model and the lowest range capability, you can find a Model 3 with around 10,000 - 20,000 miles for the mid-30s. So for about $35,000, you can get into a used 2018-2020 Tesla model 3. This base standard range rear-wheel drive only model comes with autopilot but not full self-driving capability, which is one of the things Tesla is most known for.
Tipping the scales on the higher end of budgets would be the top of the line used Model 3. The extended range dual motor all-wheel drive performance variant. These 2018-2020 models will set you back anywhere from $45,000 to the low $50,000 range. The mileage for the 3s on Tesla’s site is all low, with the highest of them just about 30,000. The site also details the monthly payment based on about 5000 down on a 72 months loan at 3.99% APR. For one of the more expensive ones coming in at 52,000, that translates to 740 a month. Also worth noting that depending on where you are in relation to the Model 3 you choose, there may be a delivery fee ranging from 500 up to 2000 for across the country trips.
Buying Used Tesla 3 From Dealerships
Looking on sites like Cars.com, Carvana, and Vroom, you might be able to get away with a better deal than buying directly from Tesla. These Tesla Model 3 ranges quite a bit when it comes to mileage in the dealership market. However, they still maintain a fairly reasonable 30,000 miles for 2018 - 2020 Model 3s.
You will also find that these are not priced as high as the ones directly from Tesla. Many long-range all-wheel-drive Model 3s are more reasonably priced below 35,000. Of course, when it comes to the dealerships, they don't come backed by Tesla's standards, and you run the risk of purchasing something that doesn't work as perfectly as it should.
Personal Seller Of Model 3
The third and final option you have to purchase your used Tesla Model 3 would be to get it from a Tesla Model 3 owner themselves. It might sound like a lot of work to reach out to the seller and arrange an agreement but with sites like Ebay, and Tred.com it's actually not that difficult. These of course, are the most fluctuating in price and hard to pin down a general range, but you could end up with the deal of a lifetime. On Ebay there is a Model 3 up for bidding that currently sits $17,000 below market value at about 37,995. The 2018 model 3 up for sale had only one owner and is a top-end long-range dual motor all-wheel drive model. Financing is available through Currency on Ebay motors.
Tred.com is a site able to help sellers sell their cars without dealerships. There are a few Model 3s available from all around the country posted on the site. Through the app, you can choose to pick up the vehicle from the seller for free or deliver the vehicle to you for a fee. There is no dealer fee associated with your purchase, and they do handle DMV paperwork, so you don't have to. The Model 3s available on the site range from about $37,000 to just over $40,000. The site offers transparent pricing and even a monthly breakdown of how much you can pay with $0 down.
Overall the choice is up to you. The price of the Model 3 has come down a bit from its initial high demand low supply price gouge. Today, they have balanced out, and thanks to depreciation, they are a more affordable option for a car ahead of its time. In a couple more years, the vehicle will weather even more depreciation, and you will probably see even more of them on the road.