Man shocked after learning how much Tesla he purchased for $62,990 in 2022 is now worth
Topics: Cars, Electric Cars, Money, News, UK News, World News, Tesla
Kit Roberts
Featured Image Credit: Getty Images/Smith Collection/Gado
Topics: Cars, Electric Cars, Money, News, UK News, World News, Tesla
A Tesla owner was left horrified after finding out what his Tesla was worth after buying it in 2022.
It's no secret that most cars lose their value over time, unless you're buying a very specific and sought after classic car perhaps.
But if we're talking a car that you're going to be driving in the day to day, then it will start to lose value as soon as you start driving it.
It makes sense given that driving the car is going to result in wear and tear, and the second hand market can be a great place to grab a bargain if you're looking for an affordable car.
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Not all cars are equal either, with some holding their value relatively well, while others depreciate at a much faster rate.
And Teslas fall squarely into the latter category here, being one of the cars with the highest rate of value loss out of all of them.
But when the owner of a Tesla Model Y took his car to WeBuyAnyCar for valuation, he was shocked by the offer he received. After paying the equivalent of a whopping $62,990 for the car, he found it had massively dropped in value.
The horrified owner from the UK said he would lose 'somewhere between $22,000 and $27,000 in less than three years.
He said: “That’s roughly $650-750/month in depreciation alone, not counting insurance, charging, maintenance, nothing.
“Just pure value evaporation.”
Not only that, but the price of a new high tech Tesla means that he may find it very difficult to sell his older model.
He explained: “Why would someone pay $40,000 for my 2022 with 41,000 miles when they can get a brand new 2025 for $44,000?”
WeBuyAnyCar has previously issued a statement explaining why Teslas in particular see such a big drop in their value.
A spokesperson for WeBuyAnyCar said previously: “Once a car leaves the showroom, it begins to lose value - typically up to 35 percent in the first year for petrol or diesel vehicles.
“This is higher still for EVs, which depreciate faster and typically have higher prices, so more value loss through depreciation can be expected - in some cases up to 50 percent."
They added: “Factors like age, mileage, service history, condition, and even the number of previous owners all influence its resale value.
“Teslas are currently depreciating quicker than most models, with some other market factors also impacting resale value.
“Depreciation can be a shock for some car owners, so it’s important to always be aware of what to expect when you make that purchase.”