Buying a pre-owned Tesla in Canada: How to Save Money
Due to the massive supply chain disruptions, the cost of new cars has increased, EV manufacturers with no exception. Automobile manufacturers are scurrying for supplies, the pace of new car deliveries has been slow down as a result. Fewer new cars also means fewer used cars. Maybe now isn’t the best moment to buy a car, new or used, but we all know that’s not how car buying works.
In the EV sector, popular name like Tesla, have made it to market command a very high price and are still selling like hotcakes. While many other automakers are struggling with the supply chain mess more than Tesla is, they are still feeling the pinch. Many Tesla owners intend to wait out the shortfall before reselling their used Tesla and purchasing their next vehicle, as delivery dates have been delayed and new Tesla costs have increased.
It is time when it is time. When you see a used Tesla that suits your needs and your budget is when you should buy it, right? If you are thinking how to get a decent bargain on a used Tesla given the inflated cost of vehicles right now, just keep read on. We will go over on tips that you can use to save money in the current market for used Teslas and find yourself the best Tesla deal you can walk out with.
How to find used Tesla Listings
The saying “the early bird catches the worm” refers to the fact that the bird searches for her prey at the same hour every day. In a same vein, daily listing searches will give you the best chance of finding a competitively priced used Tesla. It takes some luck and tenacity to find a bargain on a pre-owned Tesla before someone else does. Make sure you do some daily search for Tesla listings in your location, that gives you more chance to find a hidden gem in the pre-owned Tesla market.
To prevent getting discouraged during your buyer hunt, practise patience and remember to manage your time. Instead of obsessing over recently added listings, set a reminder to check Tesla postings once each day. This will help you avoid wasting time and potentially snagging a deal that isn’t right for you just because you are weary of looking.
Where to buy used Tesla
Buying a decent used Tesla is similar to shopping for any used car. They are available from new car dealerships, Tesla Certified Pre-Owned, or private parties. Buying a used electric vehicle can be done in multiple places but they aren’t all equal. A used Tesla, like any other used vehicle, can have problems that a new car wouldn’t have, that is why buying from Tesla’s official CPO (Certified Pre-Owned) offers peace of mind and a good discount from a new car. Furthermore, you can search on certain EV marketplaces online that specialize in used electric vehicles sales as they can also offer valuable savings as well as quality control for the used Tesla.
On the other hand, buying a used Tesla in Canada from traditional and online car dealerships or marketplaces such as Facebook marketplace, Kijiji or Craigslist is also an option. However, purchasing a used car from a non-Tesla dealer or privately needs some research.
If you buy from a private seller, you should verify things like the car’s history and whether there are any accidents, damages, or finance on the car. In addition, you may generally visit the owner’s MyTesla account to view the EV’s supercharging status and other information.
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Know what you really need and be flexible
Everyone understands that we all have different needs and priorities. And it makes perfect sense to have non-negotiable preferences when you’re prepared to spend your hard-earned money on a pre-owned Tesla. However, the more features you want, the more difficult for you to get a great price on a used Tesla. Is Tesla’s FSD capabilities subscription a viable alternative, or is transferrable Full Self-Driving (FSD) a requirement for your ideal used Model X? Do you really have to have a black interior in a used Model Y, or would you settle for white if the interior was immaculate?
Make a list of the essential features and options that you require, then do some research to know about the price range. Try ranking them in order of priority to determine which would be more amenable to negotiation for you. Make a list of the items you’d like to have but could pass up for the right price. Just so you know where you stand, price these out as well. You will find it helpful to make a few lists to determine which Tesla features or choices are absolute must-haves for you and where you might have some flexibilities. These lists can come in helpful when you’re browsing listings and will help you stay focused on what you want.
Vehicle records
Since oil changes and other common engine care requirements are not required for Teslas, they often don’t have a lot maintenance records. With engine braking technology that charges the engine while slowing down the car, even the brakes need to be changed less frequently than usual. The most important things for you to know when buying a pre-owned Tesla is whether there have been any battery problems, tyre replacements, bodywork, or other maintenance or diagnostic tests performed. Maintaining records of the maintenance performed on your Tesla will help guarantee you get top cash when you decide to resell it.
Warranty
The standard warranty for a Tesla is as follows: bumper to bumper guarantee for four years or 80,000 kilometers and battery and drive unit warranties for 8 years or 240,000 kilometers, with a minimum 70% retention of battery capacity over the guaranteed term. It is a good idea to have a Tesla mechanic perform a comprehensive assessment of the used Tesla before you decide to buy it if you are buying a vehicle that is out of warranty.
EV Test Drive, Inspection and Negotiation
Just like buying any used car, give it a test drive is the best way know the car. The test drive should start with a thorough inspection of the pre-owned Tesla’s exterior then interior. Pay special attention to the sounds made by the engine, suspension, and other parts of the automobile when you test-drive a Tesla. What does it feel like to accelerate and decelerate? To determine how quickly the battery charges and how long it retains that charge, visit a charging station to have a precise understanding of the charge range and battery state. Check for any water leaks in the cabin or trunk by running the car through the carwash or using a hose. Verify that every feature operates flawlessly.
The fact that sellers receive a lot of enquiries about their Teslas is now one of the primary drawbacks for buyers looking for pre-owned Teslas. Having said that, if you have already done your research, test drive, car inspection, and are ready to buy, you still have some room in pricing leverage. Sellers want their Tesla to sell quickly, so most should be open to negotiation on the asking price. It will never hurt to negotiate the price when buying a pre-owned vehicle.
In a nutshell, to save money when buying a pre-owned Tesla, you should know what Tesla features you’re getting and if the price is truly worth. You should focus on the essential features you really needed and make sure you negotiate the price within your budget range. Furthermore, you can check with your provincial governments to see if there are any incentives offered for purchasing a used EV. To learn more about government incentives in Canada, check out our blog: Electric Vehicle Rebates for Canadians: How to Save Money When Buying A EV in Canada to learn more.
Learn more about the benefits of buying from Carnex. We believe that all clients deserve to know the good and bad of what they’re buying. Because we wanted to know these when we bought cars. That’s why at Carnex.ca, we will proudly display every detail every step of the way. Browse all the best cars, automobile buying tips, auto insurance, young drivers, driving techniques, auto industry trends from Carnex Blog.
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