Used Tesla Are More Expensive Than New: Here’s Why

by Jul 22, 2022Electric cars0 comments

The used car market has been in a frenzy over the last two years. Fewer new cars were produced due to supply chain issues, and many car shoppers switched to the used car market, pushing the price higher. This is particularly true for electric vehicles, and the EV options in the used market are limited. As one of the most popular electric vehicles, the demand for Tesla EV has skyrocketed as a result. On the other hand, if you order a brand-new Tesla model right now, you may see a significant delay. Due to the great demand for Teslas and the limited availability of new models. Some popular used Tesla models are now even more expensive in the used car marketplace than new ones.

Let’s consider the most popular Model 3 as an example. Instead of patiently waiting for months for a new model, EV buyers are willing to pay more for a used Tesla Model 3. The performance and drivability of the Tesla Model 3 also hold a high resale value for its used variants due to the fact that it is the most affordable Tesla model currently on the market. The brand-new Model 3 has an MSRP in Canada that ranges from $46,389 for the entry-level Standard Range Plus variant to $74,990 for the Performance model. While there are Model 3 venisons available for a range of $58,000 to $91,000 in the used car marketplace.

If we look at the used Tesla Model Y, they are also quite pricey in the used EV market due to the high demand for electric SUVs. Resale value for Model Ys soars due to a lack of supply and rising demand.

In terms of driving range, comfort, and technology, the Tesla Model Y offers exceptional value even if it is more expensive than some of its competitors. Therefore, it makes sense that some EV shoppers are willing to pay more to have the electric SUV faster.

Looking for a good price on a used Tesla? Check out the best deals on used Tesla at Carnex, your online EV expert in Canada.

Used Tesla

Due to the long wait for new Teslas, EV shoppers may be paying premium costs for used Tesla. Depending on the Tesla models, the wait could go up to nine months. It’s the main motivator for car buyers to pay more on a used Tesla model is to avoid the long waiting for the delivery of a new vehicle. Tesla shoppers had been waiting a long time for the delivery, and the company also have a massive backlog of pre-orders to fill.

While buying a used Tesla can avoid long delays, Tesla also offers its Full Self-Driving Package with every used Tesla. This is another reason that makes the used Tesla models even more appealing because Full Self-Driving Capability on new Tesla cost Canadian owners $12,800, and it’s increased from $10,600 previously.

If we look at other well-known electric vehicle names in the used EV market, some are also more expensive or offered at prices that are quite near to the new ones’ MSRP. For example, Kia Telluride, Toyota RAV4 Hybrid, and Mercedes-Benz G-Class; that’s a result due to the chip shortage and high demands. A popular EV name like Tesla, which is the most well-known brand in the EV industry and much-loved by electric vehicle car owners and shoppers, earns its price in the used car marketplace. Because Tesla vehicles are made to last, you can count on a used Tesla to have the same performance as new ones regardless it has plenty of miles on its odometer.

In addition, price fluctuation for new Tesla models has now become very common. One factor causing the price increase in new Teslas may be the growing price of aluminium and the supply chain issue. After dramatically price spikes in 2021, Tesla had another small increase in price again in early 2022. Although the company does not explain why these vehicles’ prices are rising. It’s probable that persistent supply chain issues and the rising price of aluminium, which is one of the factors contributing to today’s inflation, are driving up Tesla’s EV prices.

Other than the three factors that we have discussed, used Tesla is successful in the used market because of the market’s limited options for electric vehicles. This is another significant factor cause some used Tesla models cost close to or even higher than new Tesla models. 

There aren’t many used electric vehicles available on the used market because demand for them has begun to outweigh supply. Some used Tesla models are now more expensive than their brand-new counterparts due to the high demand for used Tesla vehicles. The combined effects of all these factors increase the resale value of used Teslas.

Want to buy a used electric vehicle with no worries? At Carnex, all our electric vehicles have a full diagnostic run by our experienced EV technicians because your satisfaction is very important to us. 

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, 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.

BEV vs HEV vs PHEV vs FCEV: What’s the Difference?

EV is the general term for electric vehicles. While there are various types of EVs, an electric vehicle works depending on its type. From battery...

6 Signs You Need to Take Better Care of Your Vehicle

Whether you own a brand-new model or an old vehicle, you will need proper maintenances from time to time. Since it will not only keep your vehicle...

The Top 11 Electric Vehicle Rides in Canada

What are the top 11 electric vehicle rides in Canada? Read on this article and check out the top 11 EV rides if you are thinking of buying an...

8 Simple Things You Need to Do to Get Your Car Ready for Winter

Harsh winters are a part of living in Canada. With winter on its way for the next six months or so, it’s time to get your vehicle ready for the cold...

Should You Buy a New or Used Electric Vehicle?

The primary step when buying a vehicle of any type is to consider buying a new model or buying a used one to save some of your hard-earn money. It’s...

6 Things To Do For A Great Used Electric Vehicle Test Drive

Used electric vehicles are becoming more and more popular in Canada since they're a terrific way to drive an emission-free car while saving money on...

Why should you buy a used Tesla in Canada in 2022?

When you think of electric vehicles, you think of Tesla, the automotive company that has nearly become synonymous with the concept of driving fully...

Cost Of Installing An EV Home Charger In Canada

Calculating the cost of installing a home charger for an electric vehicle may appear time-consuming, but it is worthwhile. After all, charging your...

6 Things To Avoid When You Buy A Used Vehicle

Buying a used vehicle can be a great way to get on the road and have your dream car at an affordable price. But it’s could be a tricky task, so it’s...

Who is Carnex?

Carnex is an online EV dealer built for Canadians to buy and sell electric vehicles. Our mission is to provide Canadians with an alternative and transparent way to buy and sell used electric vehicles and to accelerate the transition to a sustainable green future. is Canada’s first e-commerce platform for used Electric Vehicles. Carnex is the leading Online Car Dealership in Ontario, with the company’s headquarters located in Toronto, Ontario.
Carnex is the fastest and cheapest way to buy a car online. We deliver to your door and collect your old car without extra charges. Buy Now-Pay Later Financing is available.

Why buy from Carnex?

Carnex is trusted by over 18 million buyers to find amazing discounts on used EVs and new EVs in their neighbourhood. Carnex specializes in electric vehicles, and we make the effort to make sure your EV purchase from us will be worry-free. Our skilled EV technicians perform a comprehensive diagnostic on all of our electric vehicles at Carnex because your satisfaction is very important to us. will help you find the best EV bargains among the listings across Canada, and we’ll provide you with the vehicle history and comprehensive reviews for each EV.

Why Choose Us

We choose to only sale quality and zero-accident used vehicles. We are so confident in our cars that we will shamelessly show you all the perfections and imperfections of the vehicle – from the Chasis pictures to chipped paint spots.

We also offer a 9-day no question asked return policy and an 100-day in house mechanical warranty to make your purchase risk-free.

Get In Touch

3 + 13 =