Here’s How Much A 7-Year-Old Tesla Model 3 Costs Today

The 2017 Tesla Model 3 marked the beginning of a new adventure into the electric car space for the American automaker. Already a leader in EVs at the time, Tesla looked to fill a void for an affordable electric car, and the Model 3 was their answer. Now seven and going on eight years old, the 2017 Tesla Model 3 is beginning to show its age.

The Tesla Model 3 has undergone some major changes since it launched all those years ago, but the original 2017 model could still be a great electric vehicle in 2024. With the base Model 3 now starting at over $40,000 and used EVs facing major depreciation, buying an older electric vehicle has its pros and cons. Let’s see how much a seven-year-old Tesla Model 3 costs today and determine if it’s worth the money.

In order to give you the most up-to-date and accurate information possible, the data used to compile this article was sourced from Tesla and other authoritative sources, including Kelley Blue Book, IIHS, and the EPA.

Here’s How Much A 7-Year-Old Tesla Model 3 Costs Today

According to Kelley Blue Book, a 2017 Tesla Model 3 Standard Range costs around $21,085 today. That’s around a $15,000 depreciation over seven years, or around 41 percent. Considering the Model 3 has undergone a number of updates, including longer ranges thanks to better batteries and electric motors, it might be a good buy if you’re looking for a budget EV, but slightly new models could have more to offer.

Tesla Model 3 MSRP vs Fair Purchase Price

The 2017 Tesla Model 3 originally came in Standard and Long Range models, with the latter holding its value better than the former, but just barely. The Model 3 Long Range was $9,000 more expensive than the Standard Range. Even so, the Model 3 Long Range only costs around $400 more than the base Standard Range. For that small difference, you can get a longer single-charge range, as the name implies, and more powerful electric motors.

Major Updates In The Tesla Model 3 Since 2017

With the 2017 model year being the first Model 3 to hit the market, there have been some major upgrades in the past seven years. The 2017 Model 3 arrived at a more affordable price and changed the electric vehicle segment for good. Tesla does their own thing when it comes to releasing updated models. While 2018 saw no changes, 2019 saw the addition of the Performance trim and Tesla’s autonomous Autopilot tech.

Tesla often updates their vehicles with over-the-air (OTA) updates. The 2020 model will see additional charging capability through Tesla’s network of Superchargers. The 2021 Tesla Model 3 included a handful of exterior and interior design updates, including space for two wireless charging pads. More importantly, the Standard Range Plus, the base model, saw the driving range improve to 263 miles and Long Range model’s range increased to 353 miles.

The 2022 Tesla Model 3 saw the largest and most important change thus far. The nickel-cobalt-aluminum battery was replaced with a lithium-ion battery that increased the range to 272 miles in the base model, while Long Range models saw the driving range go up slightly to 358 miles. There were no updates for the 2023 model year, but the 2024 Tesla Model 3 received a refreshed style, as well as some tech updates.

For the upcoming 2025 model year, the Tesla Model 3 loses the Standard Range model altogether. The three available trim levels now include Long Range RWD, Long Range AWD, and Performance.

2017 Tesla Model 3 vs 2024 Tesla Model 3 Specifications

How A 7-Year-Old Tesla Model 3 Battery Holds Up

Despite being a nickel-cobalt-aluminum battery instead of a lithium-ion power source, owners report a 10-to-20 percent decrease in range over a seven-year period. Depending on the Model 3’s mileage, that’s to be expected. Even for the 2017 model year, Tesla batteries are designed to last around 300,000 to 500,000 miles before needing a replacement due to degradation. While climate certainly plays a role in battery life and expected range, the battery is expected to last the life of the vehicle.

Due to the cost of replacing a nickel-cobalt-aluminum battery, around $20,000 to $28,000, it isn’t worth replacing in a 2017 Model 3. When Tesla made the switch to lithium-ion batteries, it came with a reduced cost to produce, resulting in more batteries, lower operating voltages, and a lower failure rate in a thermal runway, effectively making the Model 3 a safer vehicle.

The 2017 Tesla Model 3 Is Still Under Warranty

Despite being seven years old, the 2017 Tesla Model 3 is still covered by the battery and drive unit warranty. That warranty lasts up to eight years or 100,000 miles, whichever comes first. The Model 3 is also covered by a standard body rust warranty for 12 years with no mileage limit.

Tesla Model 3 Warranty

Is A Used Tesla Model 3 Viable?

Electric vehicles are the recipients of some of the worst depreciation in the automotive industry, so, of course, a used Tesla Model 3 is viable. Normally available at a huge discount, a used Tesla Model 3 is the perfect electric vehicle if you’re looking to get your feet wet in the world of EVs for the first time. Before you buy, make sure to run through a normal used vehicle checklist, including the mileage, vehicle condition, and maintenance record. The battery is a crucial element to check in any electric vehicle, as the battery pack’s health is crucial to the longevity of the Model 3.

Tesla Model 3 interiors are fairly resilient, but it’s still wise to check for any rips, cracks, or tears in the seats, dash, and screens. Tesla does offer a Certified Pre-Owned market on their website to give buyers extra peace of mind, but non-CPO models are viable alternatives, especially if you don’t want to pay a small premium. Considering electric vehicles don’t have many of the moving, serviceable parts standard gas vehicles do, so there’s less maintenance to worry about in general.

Is a 2017 Tesla Model 3 A Good Value?

With a fair purchase price of $21,085 for the Model 3 Standard Range and $21,477 for the Long Range trim, the 2017 Tesla Model 3 is a good value, all things considered. While the Model 3 Long Range is the better value of the two, the Standard Range isn’t a bad value by any means. The Long Range model adds 90 miles to the Standard Range’s 220 miles, but if you aren’t traveling often, the Standard Range could be the ideal model, especially if you can get it for a lower price. Notably, the 2017 Tesla Model 3 meets the criteria for a used clean vehicle tax credit of $4,000, making it an even better value for the money.

2024 Tesla Model 3 Trims And Pricing

Unfortunately, there’s no Model 3 trim that starts under $40,000. While Standard Range models came with a lower price tag, Tesla did away with them a few years ago, instead making the Long Range model the base trim. These days, you can get a new Tesla Model 3 Long Range RWD for $42,490 MSRP, with the top-spec Model 3 Performance AWD starting at $54,990 MSRP.

The 2024 Tesla Model 3 Hits 60 MPH In Under 3 Seconds

If you have a need for speed, the Tesla Model 3 Performance AWD is the electric sedan for you. With twin motors capable of producing 510 horsepower, the Performance AWD outpaces more gas-only sports cars, including the Toyota GR Supra. Powered by 547 pound-feet of torque, the Model 3 Performance races to 60 miles per hour in under three seconds. Even with all that power, the Performance AWD trim boasts a 303-mile range.