Cars
Published on 13 August 2020 |
by Johnna Crider
August 13, 2020 due to Johnna Crider
Do you want some evidence that Tesla cars can appreciate over time? Look no further than one Tesla owner who was shocked to find that the value of their car had not decreased in the past month, but increased.
“Tesla Joy” shared a screenshot of Credit Karma about the value of its 2018 Tesla Model 3. It increased by nearly $ 3,000 since last month. The present value is $ 34,500. The type of Model 3 she has is a Long Range.
Wait, do I see this exactly? Does my car value actually increase? 😲 pic.twitter.com/9HyY2zg28l
– Tesla Joy (@TeslaJoy) August 13, 2020
I asked her to share her thoughts with me. ‘My thought is that I’m shocked. (Emoji with tears of joy) I have only known cars that write off as soon as you drive it out of fate, but do not appreciate it after 2 years of ownership, ‘she said. The first emotion she felt, she told me, was disbelief. “I had to do a double take to make sure I read that right,” she said.
Tesla Joy is not the only one receiving these notifications from Credit Karma. On Reddit, user srgmodel3 shared a screenshot of their notification. Their 2018 Tesla Model 3 AWD Long Range increased $ 3,225 in value from last month. “I received this message today through Credit Karma. I know this is not ‘official’, but still pretty cool to confirm that Tesla’s value is much better than any other car. Not one regret! Wrote srgmodel3.
One commenter notes that her car was valued at $ 7,000 in value because of stealths that began to be an option at the price of a performance ($ 50,000 to $ 57,000). Stealth refers to a Model 3 Performance without the red brakes, tape on the spoiler, and metal petal covers. They have the Performance software and the red line under the badge. By looking at the comments, it is clear that there is a debate. Some believe that Credit Karma does not really count, while others affirm their values go up. PaleInTexas notes that by the end of 2018, Carmax is offering them $ 34,000 for their 2018 Model 3 Performance. The car had 13,000 miles on it. They noted that the appreciation may be all over the place.
Whaaat. Even credit karma sees this ?? #modelx #Tesla pic.twitter.com/sk9gQbimhc
– VM ❤️ Model Y (@ vm_one1) August 12, 2020
There is still reason that the Tesla Model 3 holds value better than other cars. Although it has the highest number of pre-orders of any car ever made, it has proven to be the car that loses the smallest 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 helped drive the huge demand for the car further,” LySong of iSeeCars said in an email earlier. has been sent to CleanTechnica this year. iSeeCars had found that it had Model 3 – by far – the lowest depreciation of any model on the US market after one year. How much army? Check it out:
Yes, the value was depreciated by an average of 5.5% at one time, according to iSeeCars, while the second best Ford Ranger had seen its value at 11.4%
The BMW 3 Series saw depression of 38.2%. Thirty-eight points two percent! Is it any wonder that the Model 3 dominates the midsize sales of luxury cars?
In addition to depreciation slower, different CleanTechnica analyzes have shown that used Tesla Model 3s are on the market for a much shorter time than their competition, which certainly contributes to their lower depreciation in general.
The Model 3 is not Tesla’s only valuable product
Tesla is known for making EVs that are durable, stylish, gorgeous and the latter. Last year I wrote an article covering a Reddit interview 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 cars, like all cars, lose some of their value over time, but there is a chance that will change for a short period of time. Once Full Self Driving has been implemented, and in a world where regulations allow robotic taxi services, Elon Musk and many others think that Tesla cars can be valued (a lot) compared to their initial purchase price.
What these cars no longer lose as their competitors do is an array of things that vary from how they are made to the software installed in them. The latter is an ocean of wonders for everyone to dive into. It makes it possible for a car to do more than normal cars do. For example, I do not see a BMW making speed noises and you can not sing karaoke in them. For many, these are features that have been added since their purchase of their cars – such as the ability to watch Netflix, Hulu or YouTube in the car; various video games; and much more advanced Autopilot. However, the biggie will be when Full Self Driving is reached and your car can suddenly moonlight like a robot taxi.
“I am extremely confident that level 5 or essentially full autonomy will happen, and I think it will happen very soon. I think, at Tesla, I feel like we’re very close to level 5 autonomy. I think – I remain confident that this year we will have the basic functionality for level 5 autonomy, “said Elon Musk in his video presentation at the Virtual World AI Conference held last month.
Just think, 50 years from now, the value of these cars will increase because of just how historic they are. The Model 3, especially the older one, will be considered “OG” by the newer generations. Other motorists are likely to build their own versions of electric cars based on the roadmaps Tesla has set up for them. Tesla has already set the bar high – if it does not just come electrically cars, but cars in general. Many associate Tesla with luxury, and even a used Tesla would be appreciated over new models from brands such as Mercedes-Benz or Audi.
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About the Author
Johnna Crider is a Baton Rouge artist, gem, and mineral collector, a member of the International Gem Society, and a Tesla shareholder who believes in Elon Musk and Tesla. Elon Musk advised her in 2018 on “Believe in Good.” Tesla is one of many good things to believe in. You can find Johnna on Twitter
