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Tesla cars are increasing in value through credit



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Published on August 13, 2020 |
by Johnna Crider

August 13, 2020 by Johnna Crider


Want some proof that a Tesla car can increase in value over time? Look no further, one Tesla owner has been stunned to discover that the value of his car has not decreased, but has increased over the past month.

“Tesla Joy” shared a screenshot from Credit Karma about the value of her 2018 Tesla Model 3. It has risen nearly $ 3,000 since last month. Its current value is $ 34,500. The Model 3 she has is Long Range.

I asked her to share her thoughts with me. “My thoughts are that I’m in shock. (Emoticons with tears of joy) I only knew the car had a discount as soon as you drove it a lot but didn’t appreciate it after 2 years of ownership, ”she said. The first emotion she felt, she told me, was disbelief. “I have to review it to make sure I read it correctly,” she said.

Tesla Joy is not the only one receiving these notices from Credit Karma. On Reddit, user srgmodel3 shared screenshots of their notifications. Their 2018 Tesla Model 3 AWD Long Range increased by $ 3,225 in value over the previous month. “Received this announcement today via Credit Karma. I know this isn’t ‘official’, but it’s still pretty cool to confirm Tesla holds their value much better than any other car. No regrets! ” Written srgmodel3.

One commentator noted that their car increased in price by $ 7,000 due to the stealth feature becoming an option for the price of a show ($ 50,000 to $ 57,000). Stealth refers to the Model 3 Performance without red brakes, spoiler ribbons and metal petal-shaped casing. They have the Performance software and red lines under the badges. Looking through the comments, it was clear that there was an ongoing debate. Some believe that Credit Karma is not really counted while others insist their value is increasing. PaleInTexas notes that by the end of 2018, Carmax gave them $ 34,000 for their 2018 Model 3 Performance. The car has 13,000 miles on it. They note that pricing can take place everywhere.

It still has a reason that the Tesla Model 3 holds its value better than other vehicles. Despite having the highest number of pre-orders of any car ever made, it has proven to be the car with the smallest loss of initial value after a year. ISeeCars’ Li Phong said: “The Tesla Model 3 has the highest number of pre-orders of any car ever made and its backlog has helped drive further demand for with this kind of car, ”said Ly Phong of iSeeCars in an email to CleanTechnica earlier this year. iSeeCars has found that the Model 3 has – hitherto – the lowest discount of any car on the US market after one year. How much lower? Check it out:

Yes, its value dropped an average of 5.5% after a year, according to iSeeCars, while the second-best Ford Ranger saw its value drop 11.4%.

BMW 3 Series discounts 38.2%. Thirty-eight point two percent! Is it surprising that the Model 3 dominates sales of midsize luxury cars?

In addition to the slower devaluation, some CleanTechnica Analysis has shown that the used Tesla Model 3s are on the market for a much shorter duration than their competitors, which inevitably contributes to their lower prices as a whole.

The Model 3 isn’t Tesla’s only valuable product

Tesla is known for making electric cars that are durable, stylish, beautiful, and long lasting. Last year, I wrote an article about a Reddit conversation about a Model S. The owner shared that his battery was at 98% after 7 years since he got the car. It is true that Tesla cars, like all cars, lose value over time, but potentially change in a short period of time. After fully self-driving has been implemented and in a world where regulations allow robotaxi service, Elon Musk and many others think Tesla cars can increase in value (even huge) relative to the purchase price. original.

What keeps these cars from being devalued like their competitors is a wide range of things that range from how they’re manufactured to the software installed in them. After that is an ocean of magic for anyone to dive in. It allows one car to do more than conventional cars. For example, I don’t see a BMW make a fart sound and you can’t sing karaoke in it. For many, these are features that have been added since they bought a car – as well as the ability to watch Netflix, Hulu or YouTube in the car; some video games; and much more advanced Autopilot. However, it’s important to achieve Full Self-Drive and your car can suddenly turn into a robotaxi.

“I strongly believe that Level 5 or basically full autonomy will happen, and I think it will happen very quickly. I think, at Tesla, I feel like we’ve come very close to Level 5 autonomy. I think – I’m still confident we’ll fulfill the basic function of Level 5 autonomy in five years. “Now,” Elon Musk said in his video presentation at the Virtual World AI Conference held last month.

Just think, 50 years from now, how the value of these cars will increase due to their history. Model 3, especially older models, will be considered “OG” by newer generations. Other automakers will most likely build their own versions of electric vehicles based on the roadmap Tesla has set for them. Tesla has set high standards – when it comes to not just electricity automobile, but automobile in general. Many people associate Tesla with luxury, and even a used Tesla will be valued more than new models from brands like Mercedes-Benz or Audi.


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Card: Credit Karma, Elon Musk, Tesla, Tesla Joy, Tesla Model 3, value


About the author

Johnna Crider is a Baton Rouge artist, gem and mineral collector, member of the International Gem Association, and a Tesla shareholder who believes in Elon Musk and Tesla. Elon Musk advised her in 2018 “Believe in the good”. Tesla is one of the good things to believe. You can find Johnna on Twitter






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