Tesla’s popular Model Y electric crossover, in Long Range trim, is now selling below $25,000 in the used car market in the United States.
Used Tesla Model Y LR now under $25K
Tesla electric vehicles continue to be among the most sought-after used models, per iSeeCars data from April 2024. The popularity of Tesla EVs in the used car market contradicts the brand’s recent sales decline in the new car market.
Notably, the study indicated that a used Tesla Model Y’s average price was about $35,000 at the time.
In a significant development, dozens of used Model Y Long Range are now available for only about $25,000 on Edmunds. For reference, prices of a new Tesla Model Y unit range between $45,000 and $52,000 as of July 2024.
Therefore, the currently available used Tesla Model Y LR units are an enticing offer given that most of these vehicles are relatively recent—from 2020 to 2022. These units are far from outdated and will likely maintain their appeal in the foreseeable future.
Most of the $25,000 listings are in California. Nonetheless, there are still some units available in the following areas:
- New York
- New Jersey
- Pennsylvania
- Maryland
- Nebraska
- Wisconsin
- Texas
Battery condition
As you can observe in the listings, most of the used Tesla Model Y units maintain an “excellent” battery rating. In this sense, their battery degradation is low or is ensuing at an expected rate.
Tesla also emphasized in its 2023 Impact Report that the Model Y and Model 3 LR variants can maintain 85% of their battery capacity even after 200,000 miles. Notably, all the listed Model Y units display fewer miles on them.
Federal tax credit eligibility
The Tesla Model Y is eligible for the federal tax credit for both new and used units.
Used Model Y buyers can benefit from up to $4,000 incentives at the point of sale. The prices listed in Edmunds exclude the tax credit, so qualified customers can expect a further price reduction in their desired unit (depending on their income eligibility and personal tax situation).
Tesla Model Y’s unwavering appeal to both new and used electric car buyers is primarily due to its innovative features and enticing design. On top of that, its access to the enormous Supercharger network also encourages customers as it continues to lead in the US charging infrastructure landscape.
The dramatic price decline of used Tesla Model Y makes them more accessible to more people, potentially accelerating the shift to electric mobility in the US.
