7 Year Old Tesla Model S At 98% Battery Capacity Today
In a fresh Reddit discussion, the owner of a 7 year-old Tesla Model S explains that his battery is at 98% battery capacity today. This is another reminder of the reasons Tesla cars are much slower to depreciate in value. Any Model S already has long enough range that its battery can degrade significantly and it’s still a highly practical, no-compromises electric vehicle, but seeing such little degradation is that much better for initial owners and used car buyers.
That said, not all Tesla cars see only 2% loss of range in 7 years. This car is on the more positive side of things. Also, at some point, this car should see a more notable drop in range due to age, because batteries lose capacity from both use and time. That said, there’s no doubt this anecdote is a positive sign.
CarFax notes that a new $45,000 car will drop in value by about $5,000 almost immediately. Their data show that cars can lose more than 10% of their value during the first month after you drive off the lot. And the amount keeps falling. CarFax mentions that, due to current depreciation rates, the value of a new vehicle could drop by more than 20% after the first year of ownership. By the time 5 years have come and gone, your car’s value could be around 40% of the original purchase price. Add in live events such as accidents, having a car stolen, etc. No one’s perfect.
So, yes, a Tesla is going to lose value over time anyway, barring an extreme value boost (like Full Self Driving being implemented and regulations allowing robotaxi service), but Tesla vehicle have historically held their value better than their competitors. Some have wondered if that would change as time went on and batteries degraded more, but stories like this one about a 7 year old Tesla show little sign for worry.
Depreciation isn’t the only issue when it comes to money being lost. You have failing car parts, you have to keep up on maintenance, such as oil changes, tires, windshield wipers, and fuel. The normal 12V car batteries in all cars, on average, can last up to around 4 to 6 years. This is assuming ideal conditions: no high temperatures, no excessive humidity, no accidents, no floods — the perfect environment. Warmer climates tend to increase the damage due to water loss and sulfation.