2024 Tesla Model Y
Value analysis and depreciation guide
Total Depreciation
This vehicle holds its value well compared to average.
Projected Future Values
Common Issues to Know
- •Battery degradation over 50k miles
- •Touchscreen glitches
- •Suspension wear on rough roads
- •Phantom braking in Autopilot
Value Summary
Your 2024 Tesla Model Y is worth $42,000 today in good condition. It launched at a $65,000 MSRP. Total depreciation hits $23,000. That equals a 35% drop from new. The first two years average 17.5% loss each year. High demand makes the Model Y hold value better than most electric SUVs.
Buyers chase long range and fast Supercharger access. Frequent software updates keep interest strong. These factors lift used prices even as new supply grows.
Depreciation Curve
The Model Y follows a smooth drop over its first two years. Year one ends at $53,600. Year two lands at $42,000 now. Most EVs lose value faster in months 12 to 18. Then prices steady as the market finds a floor. Model Y demand cuts that early plunge short.
| Point in Ownership | Estimated Value | Change vs New | Total Depreciation |
|---|---|---|---|
| New (MSRP) | $65,000 | - | 0% |
| End of Year 1 | $53,600 | -$11,400 | 17.5% |
| End of Year 2 | $42,000 | -$23,000 | 35% |
Limit miles to beat this curve. Store service records. Run a clean vehicle history report. Buyers pay more for low-mile, well-kept cars.
Value Retention Factors
What Helps Value
- High demand: A big buyer pool props up resale prices.
- Supercharger network: Easy access eases range fears and builds trust.
- Software updates: Free over-the-air fixes add features and boost performance.
- Clean history: Zero accidents and full maintenance records draw top offers.
What Hurts Value
- High miles for age: Extra driving signals wear and scares buyers.
- Battery degradation: Range drops after 50,000 miles cut appeal.
- Touchscreen glitches: Center display bugs or Autopilot flaws chase buyers off.
- Suspension wear: Rough roads cause noises and uneven tires that hint at fixes.
- Phantom braking: Sudden stops in driver assist make test drives risky.
How to Protect Your Price
- Update software and fix recalls before listing.
- Prove battery health with tests and range logs.
- Replace tires, wipers, cabin filter, and align wheels.
- Repair dents and detail the car pro-style.
- Post sharp photos, history report, and your ownership story.
Future Value Projections
Expect values to slide from here. New 2026 models flood supply and squeeze used prices. Time sales around launches to grab top dollar.
| Timeframe | Projected Value | Drop from Today |
|---|---|---|
| Now | $42,000 | - |
| 12 months | $36,500 | 13% |
| 36 months | $28,000 | 33% |
| 60 months | $19,500 | 54% |
Hold one year and lose $5,500. Keep it three years and shed $14,000. Sell soon to dodge 2026 supply pressure.
Comparison to Competitors
A 35% two-year drop beats most electric SUVs. Rivals lose 40% to 50% from incentives, tech shifts, and new stock. Gas SUVs hit 40% over two years. Hybrids hold best at 20% to 30% loss.
Tesla's chargers, updates, and fan base speed sales. Model Y fetches near-ask prices faster than other EVs.
Bottom Line
Sell now to lock in $42,000 for a clean, average-mile 2024 Model Y. Demand stays high before 2026 models hit.
Plan to keep it? Guard battery life and cap miles. Fix issues early. Your car stands out and pulls stronger bids.
Model Y tops EV SUVs for value hold. Highlight range, chargers, and updates in listings. Buyers pay up for that confidence.
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Get Your Free AnalysisLast updated: 2/6/2026