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Published on February 14th, 2014 | by Christopher DeMorro

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Used Tesla Model S Is More Expensive Than New One

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February 14th, 2014 by
 

Originally published on Gas2.

tesla-model-s-home

It actually costs more to buy a used Tesla Model S than a brand new one, thanks to its enormous popularity… and impatient rich people. After more than a year on the market, Tesla still can’t build enough Model S sedans to meet immediate demand. That’s a very good problem to have, as long as you’re not in the market for a used Model S.

According to a study by iSeeCars of 45 million for sale or sold cars in the U.S., the Tesla Model S was determined to have an averaged used sale price of more than $99,700. That’s about $10,000 more than the top-tier 85 KwH P85+ model sells for new, and doesn’t even factor in the $7,500 Federal tax credit or local incentives. Meanwhile, cars like the Nissan Leaf and Chevy Volt have seen their values plummet on the used car market.

That said, if you go to the Tesla Model S design studio page and click off every high-priced option, you can spend just shy of $128,000 on a brand new Tesla. It’s also important to remember that the number of Teslas actually for sale now is exceedingly low. Autotrader.com lists just 37 Tesla Model S sedans for sale nationwide now, with the cheapest one being a 60 kWh variant with over 12,000 miles on it.

The asking price? Over $77,000.

As a refresher, a brand new 60 kWh Model S goes for $69,900, before you factor in the $7,500 tax credit. Some people just don’t have the patience to wait a few months for their own Model S, but they do have enough money where paying a premium for a slightly used product ain’t no big thang. I’m sure Tesla’s guaranteed buy back program is also helping prices stay inflated, but it’s still very basic supply and demand economics at work here.

Tesla is working to expand production rapidly, but it’s clear that pent-up demand for the Model S is going to keep used car prices artificially high. A similar scenario played out in Norway when the Model S launched there, though it’s more understandable given the generous incentives handed out to EV drivers.

But here in America? It’s just another case of “the rich get richer,” while the rest of us look on with envious eyes. So much for the hope of buying a used Tesla Model S someday, eh?

tinny-tim

Source: Forbes | iSeeCars

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About the Author

A writer and gearhead who loves all things automotive, from hybrids to HEMIs, can be found wrenching or writing- or esle, he's running, because he's one of those crazy people who gets enjoyment from running insane distances.



  • Wayne Williamson

    Interesting article, I also find it interesting that the model S can cost 130k, I really thought that the 85k one had all the bells and whistles….
    Anyone have any input what the difference is…..

  • Matt

    I know politically they had to pay the loan back earlier. But sometime late at night I which they had keep it a little longer and scale up production more. Of course maybe they wold not have gotten batteries in time anyway. Guess it will be 2017-2019 before I can think about a Tesla. :(

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