It starts with good intentions and some electric car hype. One Tesla Model Y buyer who has owned it for two and a half years now says he thinks he’s making a smart financial move. What he got, in his words, was a financial “bloodbath.”
In a post on Reddit, the owner of a 2022 Model Y Long Range said he purchased the car at peak EV prices, which cost $62,990.
Fast forward to the end of 2025, and the Carvana has a resale price of $36,800, the CarMax is $37,200, and Tesla’s own trade-in price is $35,500, which means a monthly depreciation loss of about $22,000 to $27,000, or about $750 per month. This does not include insurance, charging costs or routine maintenance. “I am truly shocked by the magnitude of these things,” he wrote.
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He admitted that he believed in common beliefs such as “electric cars are more valuable” and “Tesla is different.” Now, due to a job transfer, he’s trying to sell the car and says he’s competing with a brand-new Tesla that costs just a few thousand dollars more than his used car with 41,000 miles. “Why would someone pay $40,000 for my 2022 model when they can get a 2025 model for $44,000?” he asked.
Some commenters weren’t surprised. “You got caught up in the hype,” one wrote. Another person noted that Tesla’s steep price cuts on new models have made used cars less attractive. “They can barely ship new stuff,” one person said, “Why should the old stuff be better?”
It’s no secret that Tesla positions its vehicles as more than just transportation. CEO Elon Musk has claimed that the company’s cars will appreciate in value over time due to potential software improvements and self-driving features. One user sarcastically quoted the statement, saying: “Didn’t Musk say a few years ago that Teslas are the only cars that appreciate in value?”
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Not everyone is critical, though. Some offered practical advice: Keep the car. “You’ve already suffered the impact of the devaluation,” one person said. “You might as well drive until the wheels fall off.”
Others have echoed this sentiment, noting that all new cars lose value—especially in the first few years. According to LendingTree, most new cars lose 20% of their value in the first year alone, and the average value drops by about 60% after five years.
