Tesla Owner Regrets Thinking His EV Was An 'Investment'—Says He's 'Genuinely Shocked At How Much These Things Are Tanking' After Losing $750 A Month

It started with bully intentions and a spot of EV hype. A Tesla Model Y buyer, present 2 and a fractional years into ownership, says helium thought helium was making a astute fiscal move. What helium got, successful his words, was a fiscal "bloodbath."

In a station connected Reddit, the proprietor of a 2022 Model Y Long Range said helium paid $62,990 for the conveyance astatine highest EV prices.

Fast guardant to precocious 2025, and resale estimates from Carvana $36,800, CarMax $37,200, and Tesla's ain trade-in $35,500 suggest a nonaccomplishment of $22,000 to $27,000—or astir $750 per period successful depreciation alone. That doesn't see insurance, charging costs, oregon regular maintenance. "I'm genuinely shocked astatine however overmuch these things are tanking," helium wrote.

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He admitted helium fell for communal beliefs similar "EVs clasp worth better" and "Teslas are different." Now, he's struggling to merchantability the car owed to a occupation relocation and says he's competing with brand-new Teslas priced conscionable a fewer 1000 dollars much than his utilized 1 with 41,000 miles. "Why would idiosyncratic wage $40,000 for my 2022 erstwhile they tin get a 2025 for $44,000?" helium asked.

Some commenters weren't surprised. "You fell for the hype," 1 wrote. Another pointed retired that Tesla's steep terms cuts connected caller models person made utilized ones little attractive. "They tin hardly determination the things new," 1 said, "why would utilized fare immoderate better?"

Tesla has famously positioned its vehicles arsenic much than conscionable transportation. CEO Elon Musk erstwhile claimed the company's cars would admit implicit clip owed to imaginable bundle improvements and autonomy features. One idiosyncratic sarcastically referenced that claim, saying, "Didn't Musky accidental that a Tesla is the lone appreciating car a fewer years back?"

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Still, not everyone was critical. Some offered applicable advice: support the car. "You already ate the depreciation," 1 said. "You mightiness arsenic good thrust it until the wheels autumn off."

Others echoed that sentiment, noting that each caller vehicles endure depreciation—especially during the archetypal fewer years. According to LendingTree, astir caller cars suffer 20% of their worth successful the archetypal twelvemonth alone, with values falling astir 60% aft 5 years connected average.