Used Model Y inventory on the Tesla website.
The used EV market has exploded as the first wave of EV buyers trade in their cars. More used EVs hitting the market means more price competition and better deals (as of mid-summer 2024).
Model Y more affordable: While the Chevy Bolt has been a low-price leader for some time, the Model Y is also seeing prices that used-car shopper’s will like. One new trend is the growing number of pre-2023 Model Y models priced under $25,000 (via Edmunds). That’s important because it makes the Tesla crossover eligible for the $4,000 federal tax credit, which becomes an instant discount if the seller is registered with the IRS. But a larger trend is the number of Model Ys priced under $30,000, which may become a sweet spot in the coming months. This is a change from even a few months ago. In pursuit of the best price, another thing to keep in mind is location. The least expensive Model Y may not necessarily be located nearby. For example, you’re more likely to find a better deal for a Model Y in Los Angeles than in Santa Barbara (as just one example). The larger point being you may have to travel some distance to get the best deal.
The price of a used Tesla Model Y can be dependent on where you buy it.
Above graphic: Best and Worst States to Buy a Used EV via Recurrent.
A Used Chevy Bolt was cheap already but it’s almost bargain basement now: Used Bolts now start at under $10,000. If you didn’t think you could afford an electric vehicle that kind of pricing makes it more likely that you can now. The Chevy Bolt EV LT — the basic trim level from Chevrolet — is a no-frills electric but offers good battery range for its price. The pre-2020 model year Bolts have 238 miles of EPA rated range. In the 2020 model year that was boosted to 259 miles. The subcompact hatchback is agile, quick, and lightweight — the latter an increasingly rare but critical feature as EVs get larger and heavier, requiring bigger batteries.
