Tesla Model 3 Depreciation

A Tesla Model 3 will depreciate 44% after 5 years and have a 5 year resale value of $26,372.

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 $47,143 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 $4,559 90.33% $42,584 12,000 2022
2 $6,708 85.77% $40,435 24,000 2023
3 $11,159 76.33% $35,984 36,000 2024
4 $16,231 65.57% $30,912 48,000 2025
5 $20,771 55.94% $26,372 60,000 2026
6 $23,930 49.24% $23,213 72,000 2027
7 $28,729 39.06% $18,414 84,000 2028
8 $30,756 34.76% $16,387 96,000 2029
9 $30,869 34.52% $16,274 108,000 2030
10 $32,760 30.51% $14,383 120,000 2031

Tesla Model 3 Depreciation

Years Old Depreciation Residual Value Resale Value
1 $4,559 90.33% $42,584
2 $6,708 85.77% $40,435
3 $11,159 76.33% $35,984
4 $16,231 65.57% $30,912
5 $20,771 55.94% $26,372
6 $23,930 49.24% $23,213
7 $28,729 39.06% $18,414
8 $30,756 34.76% $16,387
9 $30,869 34.52% $16,274
10 $32,760 30.51% $14,383

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 $6,708 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 $14,063. 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 $1,905 per year. This adds up to around $9,525 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

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: