Everyone wants to maximize their car's value when it's time to sell. Now Tesla owners looking to offload their vehicles have an option that could put more cash in their pockets, even as used Tesla sale prices have been plummeting amid CEO Elon Musk's polarizing involvement in government.
One user in the r/TeslaModel3 subreddit noted that they were planning to sell their 2022 Model 3 Performance: "I'm looking at a F150 Lightning, so I need to offload the Tesla … I know I'm going to lose money on it, but I want to move it fast with the least hassle. If anybody has some experience selling one recently, I'd love to hear about it."
Several Redditors suggested looking into CarMax or Carvana, with one replying, "CarMax bought my [Model] 3 in about 2 hours. Brought it in, no appointment they assessed and offered [$4,000] more than Tesla had offered me. Super easy, they didn't even ask for the charging cord back."
Owners aiming to sell might score more money by using Recurrent, a free service connecting sellers with a network of potential buyers and dealers for pre-owned EVs. An owner can register their car to receive a monthly report on their vehicle's marketability, and the company even monitors the EV's battery health for free. Access to all this information can often lead to higher selling prices overall.
According to an independent study by ADESA — the second-largest North American vehicle wholesaler — sellers using Recurrent earn an average of $1,400 more from their sales compared to those using other methods. This additional profit comes without the headaches of private sales or the typically lower offers from traditional dealerships.
The used electric vehicle space is experiencing tremendous growth worldwide, with sales volumes increasing by double digits annually in major markets like Europe, North America, and Asia. As more drivers make the switch to electric and early adopters upgrade to newer models, the secondhand EV ecosystem is evolving into a marketplace with increasingly standardized practices and valuations.
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Growth in the used EV market is making the eco-friendlier option more accessible to a wider range of buyers, accelerating the adoption of sustainable transportation that produces fewer emissions and reduces environmental impacts.
If you're considering making the switch to an EV, then check out The Cool Down's comprehensive guide for valuable information on available incentives, charging infrastructure, and the environmental benefits of utilizing electric transportation.
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