Tesla Model 3 Depreciation
A Tesla Model 3 will depreciate 51% after 5 years and have a 5 year resale value of $23,775.
The chart below shows the expected depreciation for the next 10 years. These results are for vehicles in good condition, averaging 12,000 miles per year. It also assumes a selling price of $48,274 when new. Enter your purchase price, expected ownership period and estimated miles driven annually. Our depreciation calculator will predict an expected resale value for the Tesla Model 3.
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Tesla Model 3 Depreciation
| Years Old | Depreciation | Residual Value | Resale Value | Mileage | Resale Year |
|---|---|---|---|---|---|
| 1 | $17,205 | 64.36% | $31,069 | 12,000 | 2025 |
| 2 | $18,286 | 62.12% | $29,988 | 24,000 | 2026 |
| 3 | $21,680 | 55.09% | $26,594 | 36,000 | 2027 |
| 4 | $24,118 | 50.04% | $24,156 | 48,000 | 2028 |
| 5 | $24,499 | 49.25% | $23,775 | 60,000 | 2029 |
| 6 | $24,880 | 48.46% | $23,394 | 72,000 | 2030 |
| 7 | $26,251 | 45.62% | $22,023 | 84,000 | 2031 |
| 8 | $34,690 | 28.14% | $13,584 | 96,000 | 2032 |
| 9 | $35,800 | 25.84% | $12,474 | 108,000 | 2033 |
| 10 | $37,200 | 22.94% | $11,074 | 120,000 | 2034 |
Tesla Model 3 Depreciation
| Years Old | Depreciation | Residual Value | Resale Value |
|---|---|---|---|
| 1 | $17,205 | 64.36% | $31,069 |
| 2 | $18,286 | 62.12% | $29,988 |
| 3 | $21,680 | 55.09% | $26,594 |
| 4 | $24,118 | 50.04% | $24,156 |
| 5 | $24,499 | 49.25% | $23,775 |
| 6 | $24,880 | 48.46% | $23,394 |
| 7 | $26,251 | 45.62% | $22,023 |
| 8 | $34,690 | 28.14% | $13,584 |
| 9 | $35,800 | 25.84% | $12,474 |
| 10 | $37,200 | 22.94% | $11,074 |
Buying a Tesla Model 3 New vs Used
If you purchase a used Tesla Model 3 that is 2 years old, then you could save $18,286 compared to buying new, and still have a relatively new model with plenty of useful life remaining. If you plan to keep this vehicle for 3 years then your total cost of depreciation would be $6,213. Try other age and ownership length combinations, or different vehicles to see if you can find depreciation sweetspots where this cost is the lowest. Hint: Try vehicles between 2 and 4 years old, as brand new vehicles depreciate quickly. Also, if this is a recently released model and buying a few years old isn't possible, consider another vehicle, or perhaps wait until more used Model 3 models become available.
What About Tesla Model 3 Insurance Costs?
The average cost to insure a Tesla Model 3 is about $2,967 per year. This adds up to around $14,835 after 5 years of vehicle ownership. Unlike depreciation, this expense can often be lowered by shopping around for lower insurance premiums. Comparing quotes will ensure that you are not overpaying if you already own a Tesla Model 3. Or, if you are just researching, then it would be money-wise to know this cost before buying. Try our Competitive Quote Tool or the form below to get free quotes. Advertising Disclosure
The Best Model Years to Buy a Tesla Model 3
The 2023 Tesla Model 3 is our top pick for the best model year value for the Model 3. With the 2023, you would only pay, on average, 64% of the price as new, with 92% of the vehicle's useful life remaining. The 2022 and 2021 model years are also attractive years for the Model 3, and provide a relatively good value. Our rankings consider multiple factors, including the Model 3's price as new, current price, maintenance costs and remaining years of overall predictabe expenses. Our top ranked model year represents the most car for the money of the Tesla Model 3 models.
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Tesla Model 3 Historical Depreciation
| Year | New Price | Current Price | Maintenance | $ Decline | % Decline | % Paid | Value Rating |
|---|---|---|---|---|---|---|---|
| 2024 | $48,274 | $48,274 | $257 | $0 | 0% | 100% | |
| 2023 | $44,957 | $28,933 | $290 | $19,341 | 40.07% | 64.36% | Best |
| 2022 | $43,520 | $27,035 | $343 | $1,898 | 6.56% | 62.12% | Better |
| 2021 | $50,319 | $27,722 | $428 | +$687 | -2.54% | 55.09% | Better |
| 2020 | $53,944 | $26,991 | $499 | $731 | 2.64% | 50.04% | Good |
| 2019 | $52,660 | $25,937 | $609 | $1,054 | 3.91% | 49.25% | Good |
| 2018 | $51,223 | $24,824 | $695 | $1,113 | 4.29% | 48.46% | |
| 2017 | $51,380 | $23,438 | $728 | $1,386 | 5.58% | 45.62% |
| Year | Price | % Paid | Value Rank |
|---|---|---|---|
| 2024 | $48,274 | 100% | |
| 2023 | $28,933 | 64.36% | Best |
| 2022 | $27,035 | 62.12% | Better |
| 2021 | $27,722 | 55.09% | Better |
| 2020 | $26,991 | 50.04% | Good |
| 2019 | $25,937 | 49.25% | Good |
| 2018 | $24,824 | 48.46% | |
| 2017 | $23,438 | 45.62% |
Tesla Model 3 Depreciation Rankings
We've ranked over 200 models from best to worst for Depreciation. See where the Tesla Model 3 ranks for Depreciation compared to other vehicles. Also check out how the Model 3 stacks up in our rankings for Maintenance, Insurance and Overall Costs.
Other Tesla Model 3 Costs of Ownership
Finding a car or truck that saves on depreciation costs is important. But, it's also imperative to view all major Tesla Model 3 costs. This will ensure that you are finding the vehicle that provides you the best value, at the lowest cost. We've created tools that will also help you to save on the following ownership expenses:
