Is a Five-Year-Old Tesla Model 3 with 100k Miles Worth Buying?

When considering the purchase of a used Tesla Model 3 with 100,000 miles, it's essential to understand the nuances of owning an electric vehicle (EV) compared to traditional internal combustion(engine) vehicles. Unlike ICE vehicles, where regular maintenance and part replacements can significantly affect the vehicle's value, EVs like the Tesla Model 3 offer a more straightforward evaluation process. The longevity and maintenance of an EV motor, which usually lasts over a million miles with minimal cost, make it crucial to focus on the battery capacity and usage rather than the physical mileage.

Assessing the Battery Capacity

For electric vehicles, the state of the battery is a critical factor in determining the car’s long-term value. Unlike traditional engines, which may require costly repairs and replacements, the battery in an EV serves as the primary power source. While the battery's condition can be a good indicator of the overall health of the car, the relationship between the battery capacity and mileage driven can be misleading. Some vehicles may have a 75% battery capacity despite having 150,000 miles on the odometer, while others with only 100,000 miles could have a 70% battery.

As such, a car with a more robust battery capacity is generally considered more valuable, as it may last longer before requiring a battery replacement. This is especially true when evaluating second-hand Teslas, as the initial investment in the battery often plays a significant role in the vehicle's overall value.

Should You Buy a Five-Year-Old Tesla at 100,000 Miles?

Deciding whether a five-year-old Tesla is worth buying involves comparing the cost against the potential value it might offer. The decision hinges on several subjective factors, including your budget, preferences, and willingness to invest in a car that might not be as cutting-edge as the latest models.

One key factor is the current market price for a new Tesla Model 3, which might be lower due to overproduction. However, the resale value of used Teslas remains high, especially for those with well-maintained batteries. Many Tesla owners prefer to keep their vehicles instead of upgrading to the latest model, which could indicate a balanced supply and demand for used Teslas.

Considering all these factors, buying a five-year-old Tesla with 100,000 miles could be a worthwhile investment. However, the decision ultimately depends on your personal assessment of the vehicle's value and whether you're willing to take on this specific pre-owned Tesla versus purchasing a new one at a slightly higher cost.

Evaluating Your Options

If you're on the fence about buying a five-year-old Tesla, you might want to:

Research the going market prices for both new and used Teslas to get a sense of the value range. Consider the specific needs and preferences that a used Tesla might meet compared to a brand new one. Contact multiple sellers to negotiate the best price and check the condition of the vehicle. Evaluate your own budget and decide how much you're willing to invest in a used vehicle versus a new one.

Ultimately, the decision to buy a five-year-old Tesla with 100,000 miles should be based on a thorough evaluation of the vehicle, its market value, and your personal financial situation. The growing number of satisfied Tesla owners who choose to keep their vehicles rather than upgrade suggests that a well-conditioned used Tesla can be a smart investment.