Man who bought Tesla for $140,000 shocked after finding out what it's worth two years later
Callum Jones
Featured Image Credit: Smith Collection/Gado/Getty Images
Kyle Conner decided in 2022 he was going to spend a whopping $140,000 on a Tesla, and was left surprised two years later after releasing how much it was worth.
The popular YouTuber detailed the selling process of a Tesla in 2024, which didn't exactly go to plan.
Seen on Out of Spec Reviews, Conner decided to splash the cash in 2022, but just two years after the big purchase, he decided enough was enough with Elon Musk's car company.
TikToker Chris Pearce (@thechristopherpearce) discussed Conner's invoice and how fast Teslas depreciate’. You can certainly see why Conner was left shocked by the value of his Tesla just 24 months later.
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Pearce detailed the findings after Conner had his car appraised by Tesla, when it was revealed the car was valued at $140,490 at the time of purchase.
Then, in a screenshot at the time of Tesla’s appraisal.
Pearce read for his viewers: “So with just 37,000 miles on the odometer, Tesla offered him a whopping $46,400.
“That’s a loss of $94,000 or 67% of its original value.”
While Pearce shared that Conner may have gotten more for his car had he chosen to sell privately, other car appraisal sites also offered less than half the value of what the car cost.
He said: “The appraisal came straight from Tesla, so it could be a lowball offer.
“But even sites like Edmunds, or Consumer Reports wouldn’t give him more than $59,000 at the absolute highest.”
To compare the Tesla’s decrease in value to a standard gas car, Pearce pulled up a BMW car for the same price in the same year and compared it to what it would be worth today.
"I did us all a favor and found a comparable gas to compare the depreciation," he said.
“The BMW M5 CS came out in 2022, the same year, for around $140,000 — the exact same price. It’s not a perfect comparison, but they’re both saloon-performance sedans. If you go on any of those sites I mentioned, you can buy the M5 CS for $140,000 today. Meaning this car has depreciated maybe $10,000.”
depreciation pic.twitter.com/3wZ0I9usYK
— Kyle Conner (@itskyleconner) October 27, 2024
He then gave some advice to future Tesla owners.
Don’t be fooled by big brands, and they might not be worth their stuff.
Perhaps unsurprisingly, Conner was not pleased with his newfound fame.
He tweeted: "We posted the most glowing review possible of the new Long Range RWD Model 3… nobody shared I posted two screen shots about a Model S with a single word ‘depreciation’ and everyone writes about it Huge Tesla hate bias in the media.”
UNILAD previously reached out to Tesla for comment.