The Used Electric Sedan That’s Perfect for First-Time EV Buyers

The electric car market in the U.S. is becoming increasingly popular for several reasons. New EV technology is far more advanced compared to a decade ago, resulting in options that benefit from impressive range capabilities, leaving the issue of

range anxiety somewhat redundant
. Public charging infrastructure is also more advanced and readily available, making the prospect of owning an EV in 2025 a much more viable one. In fact, if you’re someone who lives in a dense urban setting and frequents low-speed or traffic driving, an EV is a far more viable choice, especially if you’re looking at cutting your monthly running costs down. EVs also benefit from the added bonus of requiring much less routine maintenance due to the fact that they feature much fewer moving and serviceable parts.

The only issue facing the EV world today is their drastically more expensive starting prices when compared to their ICE and hybridized counterparts. Modern EVs that translate into a comprehensive ownership experience, good comfort, convenience, performance, and efficiency, typically start at the $40,000 mark, which is a tall ask if you are a first-time buyer. If this is the case for you, there’s a lot of value in exploring the used market, as there are several impressive, trusted, and well-rounded models you can consider for significantly less. Used EVs are much more affordable when compared to gasoline models because they are subject to

greater depreciation rates
. There’s one particular used electric sedan that’s a perfect option for you to consider if you want the best blend of performance, safety, and efficiency.

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’s websites and other authoritative sources, including Consumer Reports, J.D. Power, and the EPA.

A Used Tesla Model 3 Is Perfect For First-Time EV Buyers

The

Tesla Model 3
has consistently been the best-selling EV sedan since its inception, for a reason. The electrified compact midsize sedan is a well-rounded offering, available with multiple drivetrain and battery configurations to suit varying user needs. When it comes to used models, customers typically prioritize reliability over anything else. Unfortunately, the Model 3 isn’t a class leader in this regard, as the moniker has been subject to some controversies surrounding expansive recalls, build quality concerns, and software-related problems. From a mechanical standpoint, however, it’s proven to be a fairly resilient offering.

The 2018 model year appears to be the sweet spot of the range, as it benefits from a 54/100 reliability and 4/5 owner satisfaction rating from Consumer Reports. The 2024 Highland update really sets the bar high with its 68/100 reliability and 5/5 owner satisfaction rating, but if you’re looking for a used model to enjoy potentially higher savings, this is going to be a bit too much of an expensive option for you to consider, even with depreciation considered. The oldest Tesla Model 3 that J.D. Power reviewed was the 2022 model year, which benefits from an 82/100 overall score, which includes a 75/100 quality and reliability and an 87/100 driving experience score.

Other compelling alternatives are the

Hyundai Ioniq 6
and

BMW i4
, but both of these appear to sell for a bit more in the used market, making them slightly less attractive if you are a first-time buyer. Another thing you need to consider is the advantage of having access to the Tesla Supercharger network at more preferable rates.

2018 Tesla Model 3 Specifications

Tesla offered the 2018 Model 3 in four different configurations, with the base model being the rear-wheel-drive Mid-Range. This features a single permanent-magnet-synchronous motor fitted to the rear axle, producing 271 horsepower and 298 pound-feet. Thanks to a software update a few months after its launch, you’ll find that this model can sprint from 0-60 MPH in 5.2 seconds and reach a 125 MPH top speed. From an efficiency front, the EPA estimates that this derivative will cover 270 miles on a single charge from the 65 kWh battery pack and return 27 kWh per 100 miles.

If you want to cover longer distances on a single charge, you can opt for the 78 kWh Long-Range variant, which increases the range estimate to 310 miles and, interestingly, reduces energy consumption to 26 kWh per 100 miles. Despite the power output remaining identical, its 0-60 MPH time also speeds up by 0.1 seconds. The top speed limit also increases to 140 MPH.

2018 Tesla Model 3 Performance Specifications

The Long-Range Dual-Motor adds a drivetrain to the front axle. Unfortunately, Tesla doesn’t give us a combined power output, but we know that the front motor produces 184 horsepower and 161 pound-feet, while the rear generates 241 horsepower and 240 pound-feet. Experts estimate that the combined figure sits at around 346 horsepower and 376 pound-feet. Tesla claims that this model will cover a 0-60 MPH sprint in 4.5 seconds and hit a limited 145 MPH top speed. The EPA estimates that the 78 kWh battery will also cover 310 miles on a single charge, despite the additional power and heavier curb weight. The energy consumption increases to 29 kWh per 100 miles.

The Performance sits at the top of the range, boasting a pair of electric motors that generate 450 horsepower and 471 pound-feet. This will get you from 0-60 MPH in just 3.3 seconds before hitting a 155 MPH top speed. The EPA energy consumption estimates are identical to the Dual-Motor model.

How Much A Five-Year-Old Tesla Model 3 Is Worth Today

Based on CarEdge’s in-depth depreciation calculator, if you purchased a base Model 3 Standard Range for $23,785 five years ago, you would be able to sell it for as much as $17,496 today. This reflects one of the best value retention rates you’ll find in the used electric car market. Consumer Reports highlights a similar trend, with a range that sits between $16,900 and $23,150 for the entire 2019 model year range. J.D. Power indicates that people are currently paying between $20,431 and $28,571 for the same model year in the used car market.

Tesla Model Y Depreciation Over Five Years

Depending on trims and options, a

new top-of-the-range Model 3
with all options ticked would have set you back by $58,190, which is far more than the current flagship option. Calculators indicate that this could be worth $42,805, today, but realistically, it’s likely to sell for much less.

If you opt for the aforementioned 2024 Model 3, you can expect to find some for as little as $26,700, but these models are far and few and have likely been extensively used. $43,250 appears to be a much more common range.

Buying A New Model 3 Vs. Used

• 	2025 Tesla Model 3	2021 Tesla Model 3
  Make	Tesla	Tesla
  Model	Model 3	Model 3
  Engine	Single or dual electric motors	EV
  Transmission	Single-speed automatic	Automatic
  Horsepower	286-510 HP	271 HP
  Torque	322-554 LB-FT	310 lb.-ft.
  Driveline	RWD or AWD	Rear-Wheel Drive
  Range	298-363 Miles	272 miles
  Starting Price (MSRP)	$44,490	$44,990
  0-60 MPH	4.9-2.9 Seconds	3.1-5.3 seconds
  Top Speed	125-163 MPH	162 MPH

Ideally, we’d recommend buying a five-year-old Model 3, because it’s slightly cheaper than the newer model and features almost the same performance abilities and features. However, thanks to a series of price cuts, a brand-new model is a better financial decision, partly because you can further slash the price by up to $7,500 via the Inflation Reduction Act. This newer model also benefits from Tesla’s bumper-to-bumper warranty, which covers a 48-month or 50,000-mile period. Tesla covers its batteries for eight years or 120,000 miles. This is transferable between owners, and few owners would have surpassed the mileage limit over five years.

CarEdge anticipates that a five-year-old Model 3 will save you around $9,183 compared to the new one. If you factor in the IRA rebate, that’s only going to lower your purchase price by a few thousand dollars, and we question whether that’s worth it considering it will not feature a manufacturer-backed warranty.