Summary of "Tesla, Now Is A Good Time To Buy Used!"
Focus
Used Tesla Model 3 — market dynamics, running economics, warranty/repair risk, and buying trade-offs.
Key takeaways (finance-relevant)
Market snapshot / valuation
- Used Model 3 prices have softened: similar-age cars that were ~£24–25k a year ago are commonly in the ~£18–20k range today for many 3–4 year old Long Range examples.
- Example deals referenced:
- ~70-plate (c. 2020), ~60,000 miles, dealer-sold: just under £20,000.
- Lower-price/high-mileage listing: around £13,500 if the buyer accepts out-of-warranty risk.
- Market drivers: large volumes of lease/company-car returns are flooding the used market, putting downward pressure on prices and creating a plateau for a given age/mileage cohort.
- Outlook: presenters expect prices to be broadly stable (plateau) over the next 6–12 months for cars of the same age; more Model Y and other Tesla supply is anticipated as lease fleets age.
Warranty, major-ticket coverage, and condition
- Long Range Model 3 battery & driveline warranty: 8 years / ~120,000 miles (many used Long Range cars are mid-way through this — a meaningful value-add).
- Factory vehicle warranty (whole car): referenced as 4 years / 50,000 miles (check country-specific Tesla policies in listings).
- Recommendation: prioritise cars with remaining battery/drivetrain warranty over the cheapest high-mileage private sales, because out-of-warranty failures can be expensive.
Running cost economics
- Fuel/energy savings: presenters estimated minimum ~£50/week saved against petrol/diesel usage; monthly savings estimated ~£100–£180 — significant versus monthly finance payments.
- Maintenance: routine servicing is minimal compared with ICE cars (wipers, brake-fluid check, cabin filter, etc.).
- Insurance: can be notably higher than for typical petrol/diesel cars. Examples:
- A Focus ST renewal example jumped from ~£500 historically to ~£3,350 (extreme case).
- A Tesla insurance quote obtained was ~£900 (not the cheapest insurer; prior relationship influenced choice).
- Conclusion: expect wide insurer variance — run quotes specific to your profile.
Performance and specification trade-offs (impact on price & value)
- Long Range: larger battery (~75 kWh referenced), greater range, AWD, stronger performance (0–60 ~4.4s quoted), and longer battery/drivetrain warranty — presented as the best-value pick vs Standard Range for many buyers.
- Standard Range: lower purchase price; sufficient for most urban/commute use, especially with Supercharger network access.
- Performance model: higher purchase and insurance/maintenance costs; often seen as riskier if high-mileage/cheaper units are on the market.
- Aftermarket/software tuning exists (example ~£1,500 upgrade reducing 0–60 by ~0.5s), but these can affect warranty/insurance and are risky.
Network / service value
- The Tesla Supercharger network is cited repeatedly as a material economic and utility benefit — reduces range anxiety, increases resale desirability, and differentiates the Model 3 from many other EVs.
Risks and cautions
- Out-of-warranty repairs can be expensive — avoid ultra-cheap high-mileage or poorly maintained examples unless you accept repair risk.
- Insurance costs can be significantly higher for sporty/expensive-to-repair cars — obtain multiple quotes before buying.
- Buying the absolute cheapest car is not always best value; condition, service history and remaining warranty are important.
- Aftermarket performance “maps” or paid software upgrades may void warranty or increase insurance risk.
Practical buying checklist / framework
- Prioritise remaining warranty (battery & driveline) and overall condition.
- Prefer dealer sales with preparation and some guarantee over extremely cheap private listings.
- Compare trims:
- Standard Range: lower purchase cost, usually adequate for urban use.
- Long Range: better range, AWD/performance, and warranty — often better used-market value.
- Performance: higher running/insurance costs; consider only if you need that capability.
- Run insurance quotes early and factor insurance into total cost of ownership.
- Estimate fuel/energy savings vs your current ICE car to model loan payback.
- Check service history and look for signs of neglect (rust, interior damage, etc.).
- Consider dealer reputation; avoid cars with obvious cosmetic/structural neglect.
- Verify remaining mileage on battery/drivetrain warranty (e.g., 8 years / 120k miles for Long Range).
Key numbers & metrics mentioned
- Example car: ~£20,000 (just under), 70‑plate, ~60,000 miles.
- Lower-price/high-mileage example: ~£13,500.
- Prior pricing (1 year earlier): similar cars ~£24–25k.
- Battery/drivetrain warranty (Long Range): 8 years / ~120,000 miles.
- Vehicle warranty (whole car): ~4 years / 50,000 miles (as stated).
- 0–60 (Long Range): ~4.4 seconds; Performance and upgrades can reach ~3.6–3.9s.
- Battery size referenced: ~75 kWh.
- Insurance examples: Focus ST renewal ~£3,350 (from ~£500 historically); Tesla quote ~£900.
- Fuel savings example: at least ~£50/week; presenters estimate monthly savings ~£100–£180.
Assets / sectors / instruments referenced
- Tesla Model 3 (Long Range, Standard Range, Performance)
- Tesla Model Y
- Tesla Supercharger network
- Kia Niro (e‑Niro)
- Volkswagen ID.4
- Ford Focus ST (ICE comparator)
- Used-car market / lease returns
- Financing/loans and insurance as financial considerations
Explicit recommendations / positioning
- If you want a Model 3 now, it’s a good time to buy — prices have softened and appear to have plateaued for 3–4 year old cars.
- Don’t chase the absolute cheapest listing; prioritise a well-maintained car with remaining battery/drivetrain warranty (Long Range models often represent better value).
- Consider total cost of ownership (insurance + energy savings + potential repairs) before purchase.
- No urgent rush — presenters feel prices will likely remain similar over the next 6 months; current levels are attractive compared with 12 months ago.
Disclaimers and presenter language
- Presenters do not make a blanket recommendation for everyone; their tone is consumer-advice rather than formal financial advice.
- They acknowledge out-of-warranty repairs could be expensive and that warranty status is an important concern for buyers.
Presenters / sources
- Two on-camera presenters: “Harry” (purchaser of the car) and an unnamed co-presenter (host). Names beyond “Harry” are not given in the subtitles.
Category
Finance
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