Tesla Model 3 Depreciation

A Tesla Model 3 will depreciate 21% after 5 years and have a 5 year resale value of $47,040.

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 $59,665 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.

Tesla Model 3 Depreciation Calculator

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Tesla Model 3 Depreciation

Years Old Depreciation Residual Value Resale Value Mileage Resale Year
1 $1,187 98.01% $58,478 12,000 2022
2 $0 100.00% $59,665 24,000 2023
3 $7,828 86.88% $51,837 36,000 2024
4 $10,394 82.58% $49,271 48,000 2025
5 $12,625 78.84% $47,040 60,000 2026
6 $19,487 67.34% $40,178 72,000 2027
7 $26,736 55.19% $32,929 84,000 2028
8 $30,029 49.67% $29,636 96,000 2029
9 $27,446 54.00% $32,219 108,000 2030
10 $28,574 52.11% $31,091 120,000 2031

Tesla Model 3 Depreciation

Years Old Depreciation Residual Value Resale Value
1 $1,187 98.01% $58,478
2 $0 100.00% $59,665
3 $7,828 86.88% $51,837
4 $10,394 82.58% $49,271
5 $12,625 78.84% $47,040
6 $19,487 67.34% $40,178
7 $26,736 55.19% $32,929
8 $30,029 49.67% $29,636
9 $27,446 54.00% $32,219
10 $28,574 52.11% $31,091

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 $0 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 $12,625. 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 $2,267 per year. This adds up to around $11,335 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 2021 Tesla Model 3 is our top pick for the best model year value for the Model 3. With the 2021, you would only pay, on average, 88% of the price as new, with 92% of the vehicle's useful life remaining. The 2019 and 2018 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.

Tesla Model 3 Historical Depreciation

Year New Price Current Price Maintenance $ Decline % Decline % Paid Value Rating
2022 $59,665 $59,665 $194 $0 0% 100%
2021 $59,812 $52,850 $211 $6,815 11.42% 88.01% Best
2020 $53,944 $46,392 $238 $6,458 12.22% 86% Good
2019 $52,660 $38,133 $281 $8,259 17.8% 71.88% Better
2018 $51,223 $36,981 $316 $1,152 3.02% 71.58% Better
2017 $51,380 $36,772 $372 $209 0.57% 70.84% Good
Year Price % Paid Value Rank
2022 $59,665 100%
2021 $52,850 88.01% Best
2020 $46,392 86% Good
2019 $38,133 71.88% Better
2018 $36,981 71.58% Better
2017 $36,772 70.84% Good

Tesla Model 3 Depreciation Rankings

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.

Depreciation Rankings

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: