After first starting to sell used Model 3 with a warranty last week, Tesla has now made a lot more inventory available and the prices are surprisingly high.
As we previously reported, used Model 3 cars have been available for a while now, but only through direct-sales by owners or used vehicle resellers and not Tesla’s used vehicle program.
Tesla always had a great hold on its own used car market. They sell the vehicles through their website and they offer used vehicle warranties:
“Every used Tesla vehicle has passed a 70‑point inspection and comes with either a 4‑year or 50,000 mile warranty or a 2‑year, up to 100,000 mile warranty.”
Last week, they started listing the first few used Model 3 with a warranty, but only a handful of units in the Bay Area were made available.
This week, Tesla has dropped a bunch more inventory on the website and it’s now available in several more markets:
Some of the new markets with used Model 3 inventory includes Los Angeles, San Diego, and Las Vegas. Let us know in the comment section below if you find some interesting inventory in your area.
The new used Model 3 inventory comes at the very end of the second quarter, which could become Tesla’s biggest for deliveries.
However, used inventory doesn’t count toward that goal, but it would still help Tesla’s financials to sell those vehicles within the next few weeks.
Most of the vehicles are still over $40,000 and those with relatively low mileage are only a few thousand dollars less than their price as new or the closest version currently available as new since some options have been discontinued even though buyers don’t have access to the federal credit on used EVs.
We just reported on a study that shows that Tesla Model S holds its value 2 times better than the average gasoline car after 3 years despite the federal tax credit affecting the price.
It’s too early to compare Model 3, but Tesla appears to be confident in the Model 3’s value retention with those CPO pricings.
CEO Elon Musk even said that Tesla vehicles are now ‘appreciating assets’ due to their upcoming self-driving capability and he went as far as preventing people who are leasing Model 3 vehicles from buying them at the end of the lease so that Tesla can get them back.
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