We used to produce a lot of total cost of ownership analyses for the Tesla Model 3 and other electric vehicles, but especially the Tesla Model 3. Something I learned from that is that one of the biggest cost of ownership factors — or the biggest — is depreciation. Or on the flip side, you could saywhen you eventually sell your car. You subtract that figure from your original purchase price to come up with that large ownership cost.
With all of that in mind, after nearly 4 years of ownership , I can finally see what my 2019 Tesla Model 3 Standard Range Plus’s depreciation is over a fairly long period of ownership . I was recently intrigued by the temporary option to trade in my Tesla and have Full Self Driving transferred to a new one. This is only available this quarter, and I’ve been wondering whether to use the opportunity — I’ll write more about that soon.
All of that said, that’s not quite right. As you can see above, $6,000 of that original price was for FSD, and as you’ll remember, the reason I was looking into this was because I could transfer FSD free of charge this quarter. So, actually, we should chop $6,000 off that price. That means depreciation was actually 51.5% … for this one quarter. In reality, FSD has not held value well at all so far, and my understanding is that Tesla doesn’t give it any value on a trade-in.
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