The #1 Thing Killing Your Tesla’s Value (And How To Fix It)

From Andy Slye.

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How to get a great deal on a new Tesla, sell your Tesla for the most money, and minimize depreciation!

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Now is the perfect time to sell your Tesla and upgrade to a new one because there is a crazy amount of deals happening. Here are my best tips for selling a Tesla to get the most money and how Tesla owners are instantly increasing their car’s value by thousands of dollars when selling. Tesla is offering 0$ APR for new Model 3/Y. It’s important to sell your Tesla at the right time to maximize its value. In a few months Tesla is set to release the new refresh of the Model Y, codenamed Juniper, and I know that a lot of Tesla owners are waiting for that, which is going to cause a lot of them to sell their existing car, thus flooding the market with used Teslas and bringing the price of used Teslas down. To try to keep your Tesla’s value the highest there are some obvious things you can do during the buying process and ownership. Selling privately almost guarantees you more money for your car, and the absolute best way to sell your Tesla privately is with today’s sponsor, KeySavvy, which is not only the safest way to accept payment for any vehicle on any marketplace, but it’s especially beneficial for EV owners. The current used EV tax credit in the US allows eligible buyers of certain EVs to get a credit worth up to $4,000. Without KeySavvy, the buyer would have to pay that full amount ($20,000), but with KeySavvy (and assuming the transaction meets all the eligibility requirements), the buyer would only need to pay $16,000 to KeySavvy (plus their small flat fee of $99), then KeySavvy would get $4,000 from the IRS and then pass the full amount to the seller. For comparison, my previous car was a 2007 Pontiac G6 that I bought used for $12,000 and after driving 240,000 miles in it I sold it last year for $3,200 which was about $9,000 loss in value. Based on that, my Model 3 with 150,000 miles would probably sell for around $15-17k if sold privately which is right around the KBB estimate. Here’s what I’d do if I were selling my Model 3: I’d check KeySavvy to make sure my car is eligible for the full $4,000 used EV tax credit. If a buyer agrees to pay that amount, I’d explain the KeySavvy process and how it handles the transaction securely with online payment plus how the tax credit works. That’s one way to increase your Tesla’s value when selling, but as long as you’re a Tesla owner there will always be a few main threats to your car’s value which will increase depreciation. You could buy a new Tesla today and next month that same model could be thousands of dollars cheaper if Tesla decides to change the price overnight. But more importantly, Tesla is continuously coming out with new features and improvements to their cars that are obviously superior to previous models while keeping prices the same or even more affordable. We’re already seeing this play out because the same Model 3 configuration that I bought is $10,000 cheaper now than it was when I bought in 2018 while having 50 more miles of range, along with all the other upgrades that came with the recent refresh. The other main threat to a Tesla’s value is all the new competition that has come in the EV space over the past few years.

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