Why Tesla Prices Are Skyrocketing Right Now – And the One Vehicle You Should Actually Buy
Hey everyone, DennisCW here! If you've been shopping for a Tesla lately, you've probably noticed something wild: prices are crazy high on both the new and used markets. Demand is through the roof, and it's pushing values up across the board. In this post, I'll break down exactly why this is happening, which models to avoid right now, and the one type of Tesla you should actually consider buying. Spoiler: it might not be the best time to pull the trigger just yet.
Used EV Prices Are Surging – Thanks to Sky-High Gas Prices
Car Dealership Guy recently highlighted some eye-opening data: used EV wholesale prices have jumped 7.2% year-over-year at Manheim auctions, outpacing non-EVs by over six points. Dealers are snapping them up, which drives retail prices even higher.
Why? Gas prices are brutal. Nationally, we're at about $4.18 per gallon, but in California, it's over $6. Consumers are saying, "Enough! Let's go electric."
Check out CarGurus' value tracker for Teslas – values have spiked, but the growth is slowing. If you're eyeing a used Tesla, do the math on interest rates. Unless you're paying cash (where used is usually the better deal), it might not pencil out.
Recent Used Tesla Value Increases (Past 90 Days)
| Model | Increase |
|---|---|
| Model X | 30% |
| Model S | 9% |
| Model Y | 11% |
| Model 3 | 10% |
| Cybertruck | 2% |
Model S and X make sense – production is basically halted, new inventory is nonexistent. Cybertruck? Production hiccups mean you can't easily get a new one. If you own one of these, now's a great time to sell – trade-in values are surging. One Tesla Uber driver saw their Model Y trade-in jump $3,000 in just 3 months!
Pro Tip: Ready to sell? Check out Plug – they're aggressively buying EVs nationwide with offers in 15 minutes. We've seen them beat trade-ins by $3K–$6K, even in tax credit states. Link in the description!
The Real Culprit: No More $7,500 Tax Credit
Zoom out, and it's simple: the federal $7,500 EV tax credit is gone. New Teslas (and others) are now effectively $7,500 more expensive. Other brands slashed prices to match the old subsidized levels, pulling used values down with them.
Now, with no subsidy, new prices set the floor for used ones. Result? Everything's normalizing higher.
Which Teslas to Avoid – And What to Buy Instead
🚫 Skip These Overinflated Models
- Model S & X (Used): Demand is insane with no new supply. A low-mileage Model S Plaid for $155K? Pass unless that's pocket change.
- Cybertruck (Used): Prices holding, but wait for production to ramp.
✅ Smart Buys Right Now
-
Model 3 (New): Hands down the best option. Score 0–0.99% financing, 1 year free Supercharging, and low leases. Use my Tesla referral code for 3 months of Full Self-Driving free!
-
Model Y (New – With Caveats): Financing at 0–0.99% is unbeatable, especially with market volatility. But skip leases – payments are paused/not the best (e.g., no $399–$450 deals yet). We're only mid-May; quarter ends June 30th. Deals are coming – inventory is still moving.
Tesla hasn't raised prices, but demand (fueled by gas spikes) is keeping things hot. Hold off until Q2/Q3 end for better timing.
Must-Have Tesla Accessories from Jowua
Bought your Tesla? It comes with zero accessories – not even a phone mount! My top picks:
- Phone mount (no more flying phones during 0–60).
- Center console organizer (stop losing stuff).
- Jowua under-screen mount (perfect for sunglasses).
Get these (and more like wireless controllers, air compressors, electric scooters) from Jowua. Use my promo code for savings + free shipping over $120. I use their gear daily – it's legit!
What's Your Plan?
Are you buying a Tesla now, selling, or waiting for deals? Drop your thoughts in the comments! Don't forget the Tesla referral and Jowua link.
Thanks for reading – subscribe for more Tesla updates!
– DennisCW
