EV

YouTuber says his Tesla Model S Plaid lost him $100k in two years

  • This YouTuber’s Tesla Model S Plaid lost $100k value
  • It was over two years, and after nearly 37,000 miles
  • He initially paid around $140,000 back then

Published on Oct 29, 2024 at 3:52 PM (UTC+4)
by Siddharth Dudeja

Last updated on Oct 30, 2024 at 4:13 PM (UTC+4)
Edited by Tom Wood

This YouTuber’s Tesla Model S Plaid lost nearly $100,000 value in just two years, which is not really an ideal situation for anyone.

All cars are bound to lose value over time, and luxury cars and EVs only have it worse — but how worse can it get?

Well, $94,540, to be precise — which certainly comes as a shocker for Tesla owners.

So, what exactly happened here?

DISCOVER SBX CARS: The global premium car auction platform powered by Supercar Blondie

Tesla Model S Plaid depreciated by almost $100,000 in two years

YouTuber Kyle Conner from the Out of Spec Studios bought a Tesla Model S Plaid back in 2022 and paid a whopping $140,940 after options and taxes.

Before we get into more details, here’s a fun fact — buying the base Model S Plaid in 2024 will set you back by around $90,000.

Seeing that number, the $140,940 price that Conner paid in 2022 surely seems bizarre.

Call it an ‘early adopter’s fee’ or something along those lines, but Tesla has significantly brought down the costs.

YouTuber Tesla Model S Plaid lost $100,000 value in 2 years
Kyle Conner

For the $90,000 price, you can also consider a Model 3 Performance — which is an excellent car by the way.

Anyhow, Conner decided to check with Tesla regarding the trade-in value of his Tesla Model S Plaid.

To his surprise, he was offered a measly $46,400 for it.

Despite taking into account that he clocked 37,191 miles, the massive depreciations ended up making him disappointing.

It’s not the best feeling

YouTuber Tesla Model S Plaid lost $100,000 value in 2 years
Kyle Conner

Nobody likes seeing their car lose $94,540 in value in just two years.

But then again, that’s one of the trade-offs of buying an EV, especially when you choose to be an early adopter.

Although one of the reasons for this massive value decrease is the new Plaid is cheaper now, it remains a lose-lose situation for customers.

Moreover, there’s more to buying an EV than just gazing at its depreciation.

While EVs have somewhat proven to be cheaper than their gas-powered counterparts, they’re all about long-term use.

If you’re investing in a half-decent EV, the long-term gains are inevitable.

Take this Model 3 owner, for example — he revealed the mind-boggling amount he saved by driving an EV instead of a gas car.

If this doesn’t seem enough, you can also always buy an already-depreciated Tesla, just like this guy did.

user

Siddharth is a tech nerd with a secret love of all things cars. He has been writing for a few years now, and on his free time you would find him gaming when he's not procrastinating.