FYI: Eligible buyers can now benefit from a $4,000 used electric vehicle tax credit at the point of sale, provided the car costs under $25,000. This incentive is perfect for those looking to purchase a pre-owned electric vehicle.
## A Buyer’s Market: Used EV Prices Drop
With used electric vehicle (EV) prices plummeting by a notable 20% over the last quarter compared to the same time the previous year, it’s an optimal period for buyers eager to enter the EV market. It’s, however, a challenging phase for sellers aiming to get top dollar for their electric cars.
## Affordable and Reliable: The Pre-Facelift Tesla Model 3
When budget constraints are a priority, the pre-facelift Tesla Model 3 emerges as a dependable choice. This model has solidified its reputation as one of the most popular battery-powered vehicles available. Its vast presence on the roads means that common issues are well-documented, and solutions are both accessible and cost-effective.
### Maintenance: Lower Costs Unless Battery Replacement is Needed
One appealing aspect of purchasing a used Tesla Model 3 is the relatively low maintenance costs. Potential repairs can typically be managed through Tesla’s Service Centers or by DIY enthusiasts. However, a caveat to consider is the significant expense should a high-voltage battery replacement be necessary.
## The Dream Car: Tesla Model 3 Performance
For those who have loftier aspirations, the Tesla Model 3 Performance version is an alluring option. This high-spec variant boasts all-wheel drive and accelerates from 0 to 60 mph in a brisk 3.1 seconds. In most instances, a well-maintained Model 3 Performance with under 100,000 miles might exceed the $25,000 mark, but there are exceptions.
Take, for instance, the case of Kyle Conner, who leveraged the $4,000 used EV tax credit and keen negotiation skills to purchase a Tesla Model 3 Performance below the typical market price. His experience is detailed in an hour-long video by Out of Spec Reviews, highlighting the journey from discovering the listing to securing the vehicle late at night.
### The Car in Focus: A 2018 Tesla Model 3 Performance
Kyle’s find was a 2018 Tesla Model 3 Performance with under 40,000 miles and a sleek white interior and exterior. Originally, the car boasted an EPA-estimated range of 310 miles, though this has diminished over time due to natural battery degradation. Nevertheless, this decline in range is manageable for drivers covering shorter daily distances, such as the 60 miles driven by Kyle.
## Key Takeaways for Prospective Buyers
As with any used car purchase, viewing the car in person, taking it for a test drive, and thoroughly inspecting the documentation are crucial steps. Not everything will be perfect, but due diligence can mitigate potential risks.
By capitalizing on falling prices and the used EV tax credit, buying a used Tesla Model 3—whether a standard or Performance model—has never been more accessible. The reduced price tag and well-known reliability make it a worthy contender for those looking to transition to an electric vehicle without breaking the bank.
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—
William Kouch, Editor of Automotive.fyi
