Tesla Model S Depreciation

A Tesla Model S will depreciate 35% after 5 years and have a 5 year resale value of $64,451.

The Tesla Model S does remarkably well for an alternative fuel vehicle, as most electrics and plug-in hybrids do terribly when it comes to maintaining their value. If you look at Tesla's depreciation curve, you will see that it loses a lot of value in the first three years, but flattens out significantly in later years. This can be a result of purchasers of new Teslas historically getting significant incentives from the government for buying an electric vehicle - at times as much as $7,500 upon purchase. If you buy one used, however, you don't benefit from those incentives. All things considered, if you want a higher-end electric car, with performance, the Model S is in a class by itself, and is tough to beat.

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 $99,800 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 S.

Tesla Model S Depreciation Calculator

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Tesla Model S Depreciation

Years Old Depreciation Residual Value Resale Value Mileage Resale Year
1 $6,407 93.58% $93,393 12,000 2022
2 $6,677 93.31% $93,123 24,000 2023
3 $15,639 84.33% $84,161 36,000 2024
4 $28,323 71.62% $71,477 48,000 2025
5 $35,349 64.58% $64,451 60,000 2026
6 $40,579 59.34% $59,221 72,000 2027
7 $47,714 52.19% $52,086 84,000 2028
8 $53,223 46.67% $46,577 96,000 2029
9 $53,892 46.00% $45,908 108,000 2030
10 $55,778 44.11% $44,022 120,000 2031

Tesla Model S Depreciation

Years Old Depreciation Residual Value Resale Value
1 $6,407 93.58% $93,393
2 $6,677 93.31% $93,123
3 $15,639 84.33% $84,161
4 $28,323 71.62% $71,477
5 $35,349 64.58% $64,451
6 $40,579 59.34% $59,221
7 $47,714 52.19% $52,086
8 $53,223 46.67% $46,577
9 $53,892 46.00% $45,908
10 $55,778 44.11% $44,022

Buying a Tesla Model S New vs Used

If you purchase a used Tesla Model S that is 2 years old, then you could save $6,677 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 $28,672. 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 S models become available.

What About Tesla Model S Insurance Costs?

The average cost to insure a Tesla Model S is about $3,626 per year. This adds up to around $18,130 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 S. 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 S

The 2021 Tesla Model S is our top pick for the best model year value for the Model S. With the 2021, you would only pay, on average, 94% of the price as new, with 92% of the vehicle's useful life remaining. The 2018 and 2017 model years are also attractive years for the Model S, and provide a relatively good value. Our rankings consider multiple factors, including the Model S'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 S models.

Tesla Model S Historical Depreciation

Year New Price Current Price Maintenance $ Decline % Decline % Paid Value Rating
2022 $99,800 $99,800 $275 $0 0% 100%
2021 $99,660 $93,551 $291 $6,249 6.26% 93.58% Best
2020 $95,799 $89,705 $318 $3,846 4.11% 93.31%
2019 $95,271 $80,705 $361 $9,000 10.03% 84.33% Good
2018 $94,812 $68,306 $397 $12,399 15.36% 71.62% Better
2017 $94,984 $61,788 $452 $6,518 9.54% 64.58% Better
2016 $95,360 $57,150 $566 $4,638 7.51% 59.34% Good
2015 $92,618 $48,948 $611 $8,202 14.35% 52.19%
2014 $88,663 $42,030 $653 $6,918 14.13% 46.67%
2013 $78,791 $36,244 $715 $5,786 13.77% 46%
2012 $79,230 $35,671 $723 $573 1.58% 44.11%
Year Price % Paid Value Rank
2022 $99,800 100%
2021 $93,551 93.58% Best
2020 $89,705 93.31%
2019 $80,705 84.33% Good
2018 $68,306 71.62% Better
2017 $61,788 64.58% Better
2016 $57,150 59.34% Good
2015 $48,948 52.19%
2014 $42,030 46.67%
2013 $36,244 46%
2012 $35,671 44.11%

Tesla Model S Depreciation Rankings

Depreciation Rankings

We've ranked over 200 models from best to worst for Depreciation. See where the Tesla Model S ranks for Depreciation compared to other vehicles. Also check out how the Model S stacks up in our rankings for Maintenance, Insurance and Overall Costs.

Depreciation Rankings

Other Tesla Model S 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 S 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: