The Tesla Model S Is A Stunning Used Car Bargain Now

The Tesla Model S is one of the most influential vehicles ever produced. While the 2021 refresh didn’t come with a very splashy redesign, Tesla made some notable improvements to the aging sedan. The 2021 refreshed version offers numerous additional amenities, an EPA-rated range of up to 402 miles, and packs a dual motor setup pushing 670 horses—or over 1,000 if you opt for the Plaid model. 

But best of all, they’re now becoming relatively affordable in the used market. Today, you can find a good one for about the same price as a new Model 3 or even Model Y.

There are plenty of secondhand examples priced in the low to mid-$40,000 range. And many of these priced around the $45,000 mark have odometer readings of 40,000 miles and below. While Tesla has altered its prices significantly, the 2021 Tesla Model S Long Range originally cost between $80,000 and $96,000 depending on when it was sold. Nevertheless, the Model S went from quite expensive new to relatively reasonably priced used.  

One example is this 2021 Model S in Deep Blue Metallic. It has just 30,000 miles on the odometer and is listed for $43,775. According to its CarFax report, the original buyer bought it in September 2021 for $92,440, factoring in destination fees, order fees, and the $1,000 upgrade for blue paint. In its three years on the road, this Model S depreciated 52.7% in value. 

Another one is a 2021 example in Midnight Silver Metallic. This one comes with a few upgrades, including the 21-inch Arachnid wheels and Full-Self Driving (FSD). This Model S cost $101,940 when it was new. Today, it’s listed for just $44,825 with 41,000 miles. The original owner saw around 56% depreciation in a little over three years.

These used numbers price the Model S in line with brand new Model 3 and Ys. Currently, the Model 3 and Y start at $44,130 and $46,630, respectively. Granted, these both qualify for the point-of-sale EV credit, meaning these two cars are realistically $36,630 and $39,130 for qualifying buyers. Nevertheless, these vastly different vehicles are now priced similarly.

With Model S prices on the decline, is it time to get behind the wheel of a Tesla Model S? Or are there safer bets for all-electric transportation?

The Tesla Model S: Tech Specs

The Tesla Model S is one of the best-known EVs ever built. That’s because it’s been on the market for a while with no significant exterior updates. But just because the design has remained relatively static doesn’t mean the technology underpinning it is. 

The 2021 Model S brought an array of features to the table, though it’s still more of an upscale vehicle rather than a full-fledged luxury sedan like the Mercedes-Benz EQS (which happens to depreciate even more.) 

Tesla Model S charging at a Supercharging station

The Model S can accept charging speeds up to 250 kW, allowing for a respectable 10 to 80% charge time of 31 minutes on a Supercharger, according to EVKX. The Model S also has a better charging curve than the Model 3 and Y by sustaining its peak rate to around 33%. The Model S won’t see speeds below 100 kW until 65%. From 10 to 80%, it averages 129 kW.

While the 2021 Model S’s charging speed is trounced by the Audi E-Tron GT, averaging 191.4 kilowatts, the Model S is efficient for its size. Even with the inefficient 21-inch wheels, the refreshed Model S achieved 335 miles at highway speeds in an independent test. Even using this number, 31 minutes of charging would result in 235 real-world miles with the big wheels. It’s not jaw-dropping, but it’s pretty good considering the vast and reliable Supercharger network. 

Additionally, the Model S has adjustable air suspension and features 4.6 inches of ground clearance on the lowest setting and 6.2 on the highest. The air suspension can be tuned for comfort or sport, stiffening the ride when needed. Those who want the full sports sedan experience can change the acceleration mode to “Insane,” which allows launch control. With launch control, its 670 horsepower dual motors can thrust the Model S to 60 mph in just 3.1 seconds. 

Trims And Features

The Tesla Model S only has three interior choices, all of which are colors. Black is standard, but white and beige run $2,000. All interiors come with the same array of amenities and features. For starters, all the seats are heated, and the front ones have ventilation. Passengers have access to a tri-zone climate control system, and the third zone is accessible through an 8.0-inch rear center touchscreen.

All passengers are treated to the 22-speaker, 960-watt in-house audio system. The system has booming bass and sounds phenomenal; Tesla does know its stuff when it comes to audio. The Model S also features a black microsuede headliner that complements the panoramic glass roof. At the cabin’s center is a crisp, 17-inch display that can tilt left and right. 

All Teslas come with Autopilot as standard. Autopilot can control the acceleration and steering in a selected highway. Autopilot is a system that blends adaptive cruise control and lane centering and other features to make your long road trips easier, provided you offer close supervision. Full-Self Driving (FSD) is an $8,000 option today, and it will allow hands-on automated driving with close driver supervision in city settings; it will even stop at stop signs and traffic lights. But in my own experience, it sometimes works excellently but other times it doesn’t.

The refreshed Model S also has no stocks and features the infamous yoke steering wheel on 2021 models. The car has “Auto Shift Beta” functionality, automatically selecting drive or reverse depending on the surroundings. Otherwise, drive and reverse are selected via the center screen’s leftmost side. 

Any Areas Of Concern?

Generally, the Model 3 and Y are the most reliable Teslas, with the S and (especially) X falling behind. But this doesn’t mean the Model S is unreliable. It is just a more complex car. It has door handles that automatically retract (occasionally pose issues) and other intricate components like air suspension. While the newer Model S has been pretty dependable, it has more things that could go wrong over time, and it is still considered less reliable than average by experts like Consumer Reports. (Older versions of the car from the 2010s have been known to have more issues.)

Tesla

Tesla Model S/X Steering Wheel Retrofit

Some other issues include sometimes poor noise, vibration and harshness (as quality can vary from vehicle to vehicle) and the yoke. The semicircle steering wheel has been known to peel at the edges, but Tesla will replace them under warranty if the problem arises. However, traditionalists will want to spring for the $700 upgrade for Tesla to install a conventional steering wheel. 

Should I Buy One? 

The Model S is now an iconic American sedan, known for its excellent range, lightning-quick acceleration, and ample storage space. A used refresh Model S offers a lot of value, especially in the low to mid-$40,000 range. This makes them worthy competitors to Tesla’s own new offerings like the Model 3—it’s nicer, faster, goes further and just feels more unique in the landscape. 

2023 Tesla Model S (Ultra Red color)

Additionally, many used options will have around a year left of the basic warranty, giving drivers added peace of mind. Nevertheless, as Tesla’s flagship sedan depreciates, it opens the door for a new crowd of buyers to experience the Model S. Right now, it’s a compelling choice for those who want something more premium without spending a massive premium. 

Andrew Lambrecht is a contributor at InsideEVs and an industrial engineering student at Clemson University. In addition to InsideEVs, Andrew writes for Forbes Wheels and Business Insider, covering the transportation sector.