Tesla Model S Depreciation

A Tesla Model S will depreciate 51% after 5 years and have a 5 year resale value of $46,999.

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 two 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 13,500 miles per year, and assumes a purchase price of $95,799 when new. Key in your purchase price, expected ownership period and estimated annual miles driven into our depreciation calculator, and we'll predict an expected resale value just for you.

Tesla Model S Depreciation

Years Old Depreciation Residual Value Resale Value Mileage Resale Year
1 $16,276 83.01% $79,523 13,500 2021
2 $32,370 66.21% $63,429 27,000 2022
3 $39,919 58.33% $55,880 40,500 2023
4 $46,012 51.97% $49,787 54,000 2024
5 $48,800 49.06% $46,999 67,500 2025
6 $56,090 41.45% $39,709 81,000 2026
7 $56,895 40.61% $38,904 94,500 2027
8 $57,479 40.00% $38,320 108,000 2028
9 $73,363 23.42% $22,436 121,500 2029
10 $76,802 19.83% $18,997 135,000 2030
Years Old Depreciation Residual Value Resale Value
1 $16,276 83.01% $79,523
2 $32,370 66.21% $63,429
3 $39,919 58.33% $55,880
4 $46,012 51.97% $49,787
5 $48,800 49.06% $46,999
6 $56,090 41.45% $39,709
7 $56,895 40.61% $38,904
8 $57,479 40.00% $38,320
9 $73,363 23.42% $22,436
10 $76,802 19.83% $18,997

Tesla Model S Depreciation Calculator

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If you purchase a used Tesla Model S that is 2 years old, then you could save $32,370 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 $16,430. 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.

The Best Model Years to Buy a Tesla Model S

The 2018 Tesla Model S is our top pick for the best model year value for the Model S. With the 2018, you would only pay, on average, 66% of the price as new, with 83% of the vehicle's useful life remaining. The 2017 and 2016 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
2020 $95,799 $95,799 $121 $0 0% 100%
2019 $95,271 $79,229 $145 $16,570 17.3% 83.01% Good
2018 $94,812 $62,969 $190 $16,260 20.52% 66.21% Best
2017 $94,984 $55,663 $259 $7,306 11.6% 58.33% Better
2016 $95,360 $49,862 $305 $5,801 10.42% 51.97% Better
2015 $92,618 $45,832 $397 $4,030 8.08% 49.06% Good
2014 $88,663 $37,313 $565 $8,519 18.59% 41.45%
2013 $78,791 $32,640 $645 $4,673 12.52% 40.61%
2012 $79,230 $31,692 $698 $948 2.9% 40%
Year Price % Paid Value Rank
2020 $95,799 100%
2019 $79,229 83.01% Good
2018 $62,969 66.21% Best
2017 $55,663 58.33% Better
2016 $49,862 51.97% Better
2015 $45,832 49.06% Good
2014 $37,313 41.45%
2013 $32,640 40.61%
2012 $31,692 40%
Our Favorite Tesla Model S Photo

About Our Data and "Useful Lifespan"

We aggregate and analyze millions of automotive data points from a variety of sources, including some of the industry's leading data providers. The historical depreciation tables, charts, values and overall rankings are conducted on a semi-annual basis, with our most recent update published in September 2020.

While the "Useful Lifespan" of a vehicle will vary greatly from one model to the next, and even one owner to the next, we have determined that twelve years is the most appropriate timeframe which will yield us good, usable data - and that any data beyond that timeframe becomes more dispersed, and ultimately less reliable. Moreover, maintenance costs beyond that timeframe become significantly more varied, as a vehicle owner's care of a particular vehicle will greatly impact its value, and ongoing maintenance costs. We are very much hopeful, however, that your car or truck will last well beyond twelve years, and that it gets you to where you want to go.

If you would like to know more about our data and process, check out our FAQ here.