Tesla strives to make its cars as perfect as possible and thanks to this, the residual value of Models X, S and 3 always remains high. Earlier, we reported that several Chinese organizations conducted a study on the residual value of cars, as a result of which the Model X took first place.
Recently, I See Cars conducted a study in which new and used sales data from 6 million vehicles in the US were used to compare the new cost of cars against their resale value one year on. According to the results of this study, Tesla Model 3 topped the list of cars that hold their value. It should be noted that the study included not only the assessment of EV, but also the assessment of cars with an internal combustion engine.
The residual value should be characterized as a formula for determining the value of an asset that takes into account various types of depreciation. To determine this value, you need to know the initial value of the asset and the amount of accumulated current depreciation.
The residual value makes it possible to calculate the approximate price for which you can actually sell a car.
In many ways, the determining factor in calculating the residual value is the depreciation of the car. The residual value is the difference between the amount of car purchase and its depreciation.
This is an important indicator that should be considered when considering the total cost of ownership, as well as reducing the cost of “fuel” and lowering the cost of maintenance.
In the study, Tesla Model 3 came out on top with a margin of almost 6%, ahead of the Ford Range, Chevrolet Traverse and the popular Honda Civic. Worth just 5.5% less, or $ 2,529 after a year of ownership, the high resale value of the Model 3 ranks it a better buy on value alone than other high value holders.
Source: I See Cars
“Instead of buying a car that’s already been driven for one year, consumers can buy the new version of select vehicles with a purchase price of just a few thousand dollars more to avoid the uncertainties that come with purchasing a used vehicle,” said iSeeCars CEO Phong Ly.
Judging by this report, for those who wish to purchase a Model 3, first of all, you should pay attention to buying a new car. All Tesla cars retain their high value even after several years of use, because Tesla is not just a car, it is a smart car that even in a few years will be much more high-tech than its competitors. This is possible thanks to OTA updates that make your car more advanced immediately after the company releases a new update.
Featured image: LVC (Lourenzo) / Twitter
About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.