November 30, 2024 at 2:49 pm

Driver Paid $140,000 For A Tesla Two Years Ago, And He Shares How Much Less It’s Worth Today

by Matthew Gilligan

Source: TikTok/@thechristopherpearce

There’s an old saying about cars that they depreciate dramatically the second you drive them off the lot.

A TikTokker named Chris posted a video on the social media platform and educated viewers about the value of the Tesla a YouTuber bought two years ago.

Source: TikTok/@thechristopherpearce

Chris told viewers that the man paid $140,490 for his Tesla and said, “He just had his car appraised by Tesla. Wait till you see how much it’s depreciated compared to a gas car.”

He continued, “So with just 37,000 miles on the odometer, Tesla offered him a whopping $46,400. That’s a loss of $94,000 or 67% of its original value.”

Chris added, “The appraisal came straight from Tesla, so it could be a lowball offer. But even sites like Edmunds, or Consumer Reports wouldn’t give him more than $59,000 at the absolute highest.”

Source: TikTok/@thechristopherpearce

Chris continued, “I did us all a favor and found a comparable gas to compare the depreciation. The BMW M5 CS came out in 2022, the same year, for around $140,000, the exact same price. It’s not a perfect comparison, but they’re both saloon-performance sedans. If you go on any of those sites I mentioned, You can buy the M5 CS for $140,000 today. Meaning this car has depreciated maybe $10,000.”

He added, “The examples keep coming. Lesson here: if you’re gonna buy a Tesla, an expensive Tesla, don’t buy it brand new. Let someone else eat the depreciation for you.”

Source: TikTok/@thechristopherpearce

Here’s the video.

@thechristopherpearce

Insane how fast Teslas depreciate #carnews #tesla

♬ original sound – Chris Pearce

And here’s how viewers reacted.

This viewer weighed in.

Source: TikTok/@thechristopherpearce

Another person shared their thoughts.

Source: TikTok/@thechristopherpearce

And this TikTokker spoke up.

Source: TikTok/@thechristopherpearce

All in all… that car is actually retaining it’s value pretty nicely.

If you liked that story, check out this one about a 72-year-old woman was told by her life insurance company that her policy was worthless because she’d paid for 40 years. 🙁