Andy Slye (@aslye) is a 2018 Tesla Model 3 owner who considered selling his electric vehicle because it was a lucrative time for a trade-in.
In a previous YouTube video, he said, "I'm never buying another Tesla" because he planned to keep his car for 10 years. But because of all the incentives available, he changed his mind and considered upgrading to a new Tesla much sooner.
Andy used Recurrent to assess his EV's estimated market value. With its free tools, he discovered that he could sell his Model 3 for $16,300 to $20,958 and potentially get an upgraded model for free.
Andy first considered the upgrade because of the $14,000 referral credits he received. Based on his income, Andy also found that he was eligible for the full $7,500 federal tax credit. To save even more money, he can use a referral link to order a new car and take advantage of $1,500 in Tesla credits.
That's combined savings of about $23,000, and the cheapest Tesla he can get is the long-range, rear-wheel-drive Model 3, leasing at $299 per month. The vehicle had an estimated purchase price of $44,130. He looked for a demo vehicle to save even more money but none were available.
He wanted to upgrade for new features, such as ventilated seats, increased range, efficiency, interior lighting, a new warranty, and self-driving capabilities. In his video, Andy discussed selling his car through KeySavvy for an extra $4,000 used EV tax credit.
He asked viewers if they thought he'd be able to get $17,000 for his current EV with 156,000 miles on it to make the upgrade worthwhile.
Andy's situation is becoming more common because selling used EVs is now quite profitable.
Recurrent is helping EV drivers track their vehicles' performance so they can sell them at premium prices. EV sellers who use Recurrent and connect with its network of dealers make an average of $1,400 more in sales.
Whether you keep an old model or get a new one, owning an EV is one of the best long-term decisions you can make for your wallet, your health, and the planet.
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Cost 💰 Andy's followers shared their thoughts about whether he should keep his Model 3 or use all the available savings to upgrade.
"Go for it, Andy!" one user wrote. "Let someone else be the proud owner of your beloved Red Rider."
"This is a no-brainer!" someone else said. "With all the credits you have, tax credit, and trading in your old car, it's time! Get that new model 3!"
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