Thinking About Renting a Tesla Model 3 from Hertz? Check Out This Range Review!

Hertz’s EV Liquidation: Opportunity or Risk?

Hertz is hosting a significant EV blowout sale, and it could present an incredible opportunity for cautious buyers.

Following challenges related to rapid depreciation and high operational costs, the rental behemoth, Hertz, decided to scale back its sprawling electric vehicle (EV) fleet. This adjustment has led to an influx of EVs hitting the resale market at fantastically low prices, especially targeting vehicles like Teslas and Chevrolet Bolts.

Hertz’s Massive Electric Vehicle Sale

Hertz initially committed heavily to integrating EVs into their rental lineup, only to find it unsustainable in the long run. This pivot has now opened the door for savvy consumers to snag these vehicles at steeply discounted rates.

Here are some standout deals:

• Tesla Model 3: Base models with mileage ranging between 40,000 and 70,000 are available for around $20,000 or less.
• Federal Rebate: With the $4,000 federal rebate applicable for used EV purchases, you’re looking at effective prices of $16,000 to $17,000—less than half their original price.

These prices certainly make these cars appear like a phenomenal bargain. However, remember that these vehicles have served their time as rentals and been subject to heavy usage, often by Uber drivers, and have undergone numerous fast charging cycles, potentially impacting battery health.

Real-World Testimonials and Performance

Thankfully, some bold buyers have already dipped their toes into these waters. Luke Hunt, the operator of the EV-centric YouTube channel Spinner EV, acquired a 2022 Tesla Model 3 RWD from Hertz with 57,000 miles on the odometer earlier this year. He recently conducted an extensive range test and shared his findings.

Range Test Results

• Initial Conditions: Hunt began with a full charge and traversed a mixture of highways, city routes, and country roads.
• Expected vs. Actual Range: Originally rated at 272 miles when new, Hunt’s Tesla showed an estimated range of 257 miles with a full battery.
• Test Findings: The vehicle managed to cover 225 miles before hitting a 1% charge, ultimately displaying an additional 2 miles of remaining range, signifying a practical range of around 227 miles.

What Does This Mean for Potential Buyers?

This result aligns closely with typical range expectations, considering factors like driving conditions and environmental influences like temperature and rolling resistance due to new tires. Despite the usual degradation associated with high-mileage EVs, this performance suggests that these rental TESLAs have retained a considerable portion of their original battery life.

Supporting this observation, Scott Case, CEO of Recurrent—a company dedicated to tracking the battery health of used EVs—affirmed that high mileage doesn’t necessarily equate to severe battery degradation. "Hertz might be undervaluing these cars," Case noted, "since the industry typically only considers mileage for pricing, presenting a lucrative opportunity for astute buyers."

Making the Decision

The Hertz Car Sales website includes range ratings from Recurrent for many of its Tesla listings, generally around 250 miles for Model 3 RWD models originally estimated at 272 miles. This further bolsters their value proposition. However, other factors like environmental conditions during Hunt’s test, such as temperatures between 87-95 degrees and increased rolling resistance from newly fitted tires, also played crucial roles.

Final Thoughts

At the end of the day, purchasing an ex-rental Tesla from Hertz can be a golden opportunity for those seeking an affordable entry into the world of EVs. While some level of battery wear is expected, the depreciation doesn’t seem steep enough to offset the remarkable savings. However, potential buyers should conduct their due diligence, consider all factors, and perhaps run their own tests if possible.

Is it a grand bargain or a gamble you’re unwilling to take? Share your thoughts with us in the comments below.

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