The sad reality is that the value of the automobile depreciates faster than that of anything else – but not in the case of Silicon Valley-based automaker Tesla Motors. According to the experts at car shopping site, iSeeCars.com, the purchase price of a brand new Model S is less than a used one.
A used Model S is currently going for $99,734, on average. Compare that to the top trim level of a brand new Model S at $85,900, and surprise, you’re better off buying the new one. The nearest used Model S to us here in Detroit is actually in Columbus, Ohio and listed on AutoTrader at $109,970.
So why is this the case? Not unlike other Silicon Valley-based start-ups, this is simply supply and demand. Tesla isn’t able to produce enough vehicles to keep up with orders. So much so that apparently there is a three-month waiting list if you want the brand new version delivered to you. We’ve never seen this happen with a car company before. Though it did happen recently with Pebble’s smartwatch, and probably with those infamous fuzzy talking Furby toys back in the late ‘90s.
Ultimately, this should be good news for BMW, who recently launched the all-electric i8, and Cadillac, whose electric luxury coupe, the ELR, hit dealer showrooms in December.