When you think of electric vehicles, you think of Tesla, the automotive company that has nearly become synonymous with the concept of driving fully electric. Tesla offers a wide choice of high-quality and efficient electric vehicles at a variety of price points. However, if you look at the current Tesla lineup, you will notice that the auto maker is no longer producing affordable cars in the lower price segment. As a result, consumers are turning to used Teslas, which offer the same capabilities as brand-new Tesla cars for a fraction of the price. Especially in Canada, used Tesla sales are rising for Canadians looking to get a new ride. The used Tesla market is ripe with offerings, and there are many reasons to buy a used Tesla in Canada.
Used Tesla cars have been proven to be highly reliable cars that can save you money and provide the same level of performance as a new Tesla. In this article, we break down the reasons behind buying a used Tesla available in Canada, including new vs. used EVs and other factors to consider.
Reasons Why you should buy a used Tesla in Canada in 2022.
There are many reasons why most Canadians opt to buy used Tesla models rather than new ones. Here are some of the reasons:
One of the main reasons most Canadians buy a used Tesla is the price. Any used vehicle should be substantially cheaper; thus, this might be a perfect loophole for individuals who are yearning to get behind the wheel of a Tesla but lack the financial means to do so at full price.
Used EVs usually cost half or even a third of the price of new models. However, Teslas depreciate significantly less than the average electric vehicle. For example, the Tesla Model 3 loses only 10% of its value after three years. Although used Teslas are very popular in the used EV market, buying used still makes used Tesla cars an affordable option in Canada.
Used Tesla is still reliable and attractive
Even though used Teslas could be cheaper than new ones, they’re still considered among the best cars on the market. When purchasing a used Tesla, you may be confident in the vehicle’s quality. In comparison to other used electric vehicles on the market, Tesla’s used electric vehicles have withstood the test of time and run effectively, requiring little maintenance if properly cared for throughout their lives. They’re also reliable, which means they’ll save you money in the long run by not needing to be fixed frequently.
Most used Tesla models have already benefited from numerous firmware updates
Used Tesla continues to receive manufacturer software upgrades and can improve itself over time to become more efficient and receive more features as software advances. This is important because the company provides firmware updates to enhance the performance of its vehicles. These improvements are not included in the cost of a new vehicle and can only be obtained by buying a used Tesla.
Used Tesla cars are just as functional and advanced as new ones
One of the most important aspects of buying a used Tesla vehicle is that you will be able to get all the same features as a new one but at a lower cost. This is possible because many used Tesla vehicles have already benefited from software updates and other improvements. Some even have more features compared to their newer counterparts.
Used Tesla cars do not depreciate quickly
You can often find very high resale values for used Tesla models, which means that the EV maintains a constant value over time. A used Tesla can maintain a good resale value because Tesla is such a popular brand that has gotten people talking. There will always be a market for someone looking for a used electric vehicle. You can resell it as quickly or as slowly as you like, and you will be able to get a lot of money out of it if you sell it.
Phones and other electronics work as well on a used Tesla model
You can expect your used Tesla to still have access to many of the latest phones, tablets, and other electronics when it comes time to buy new ones. You’ll need to choose a model that has the same amount or more of storage space as your old phone.
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What are the risks of buying a used Tesla in Canada?
Like buying any other used car, there are risks involved when buying a used Tesla model. It’s important to know about these risks beforehand so you can be prepared for them.
Used Tesla cars have a shorter lifespan compared to new ones
Just like any used car, used Tesla vehicles are more likely to suffer from breakdowns as they age and start getting older than their newer counterparts. This is because the vehicles are already more used than new ones and are also less reliable.
Used Tesla cars might require additional repairs after you buy them
Although used Teslas are relatively reliable, they might require some repairs later. This might happen if some parts need replacemnt. You will have to pay for these repairs in the event of an accident or if the car breaks down after a year of purchase.
Used Tesla vehicles come with less warranty
Used Tesla models are sold without any additional manufacturer’s warranty. This means you will have to pay for a third-party warranty if you want to be sure that your car is still functional. These warranties are often inexpensive and will be very beneficial if your car breaks down in the long run.
Potential Battery Failure
Although it is rare, used Tesla batteries can suffer from issues that can cause them to blow up. This is because a battery has a limited lifespan and can eventually start failing. Battery life is an important factor in used electric vehicles, and Teslas are no different. Particularly in frigid winter circumstances in Canada, where freezing temperatures can cause more battery damage than in other regions where the climate is different, calmer, and more ideal. In case of a failure, the car’s controller might not work correctly and could lead to damage to other areas in the vehicle.
Cost of additional features
You must look for the features you desire because they are not custom-made from the factory to your needs. Finding the ideal used Tesla for you may be challenging because some used Teslas may have more features than you require but are more expensive than your set budget, whereas other used Teslas may have fewer features than you require but are within your budget range. Some used Tesla models have a lot of features that were not included in the original purchase. You might need to add on some features later this way, which can also cost quite a bit of money.
At Carnex, all our used Tesla have a full diagnostic run by our experienced EV technicians, because your satisfaction is very important to us.
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Factors that should be considered when buying a used EV
Buying a used EV can be just as beneficial as buying a new one, but there are also some things you should consider before committing to it.
Here are some of the most important factors you should consider when buying a used car.
Range and battery life
If the model you choose doesn’t have enough range or battery storage, it might not be worth your time. You would be best off looking for models with plenty of extra storage space and high-capacity batteries that will last a long time. Searching for a used Tesla with good battery life is essential for saving money in the future. As repairs may be needed and will be essential for allowing proper functionality in all dimensions of the EV.
Features and upgrade potential
A used Tesla model should come with all the features you want. Some models might have additional features that can be added on later, but it’s important to know exactly what you’re getting into. You also need to consider the possibility of repairing these features if they break down or stop working in the future.
Configurations and specifications
You should always choose a Tesla model with all your desired configuration options and specifications. The more configuration options and specifications a model has, the better.
This will help you to make a better decision about whether or not you want to buy a used Tesla. You should also check the maintenance history of any Tesla models you’re considering to know if they’ve been maintained correctly or if they’ve ever had issues with electrical components.
This is a big factor when buying a used car. A used Tesla can maintain a good resale value because Tesla is such a popular brand that has gotten people talking. However, you should still try to avoid some models that will depreciate quickly. This will save you money and keep your costs down.
The battery warranty should be taken into consideration when you looking to buy a used Tesla. The battery warranty will ensure that you don’t have to pay for any repairs done to the battery.
Although there are several benefits to buying used Tesla vehicles in Canada, there are also some drawbacks that you should be aware of before buying one. The benefits will outweigh the drawbacks in most cases, but it’s always good to be prepared in case of some problems. If you approach the buying process cautiously, you can buy a used Tesla model that will work well for years.
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