14.3.20

TESLA MODEL 3 NOW HAS THE #1 HIGHEST RESALE VALUE

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High demand has gained the all-electric Tesla Model 3 top place in a list of vehicles – including internal combustion engine cars – in a new study analysing retention of value.

It’s more or less assumed by anyone buying a new car that as soon as it is driven off the lot you can immediately kiss a few thousand dollars goodbye in depreciated value.

For that reason it’s worth paying attention to factors like resale value when buying a new car, or whether you’ll get better value for money by buying new in the first place.



This is the premise of a new study from Iseecars, in which new and used sales data from 6 million vehicles in the US were used to compare the new cost of cars against their resale value after one year.

It’s an important metric to consider when looking at total cost of ownership, along with reduced “fuel” costs, and lower maintenance.

While the average car loses 10% value within the first month of ownership and 20% within the first 12 months according to Carfax, the Model 3 lost just a fraction of its value – a quarter of that of the average car in fact – within the first twelve months.

In the study, the Tesla Model 3 came out on top by a margin of 5.5%, ahead of utility truck favorite Ford Range, the Chevrolet Traverse and the popular Honda Civic hatchback.

Worth just 5.5% less, or $2,529 after one year of ownership, the high resale value of the Model 3 ranks it a better buy on value alone than other high value holders.

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