Yes, the $25,000 Tesla is no more, but don't dismiss the used market to jump on the EV bandwagon

The EV giant’s Battery Day announcement of a $25,000 Tesla had been holding many people’s hopes together since 2020. But after company CEO Elon Musk’s comments that the project had been sidelined in favor of other products, a lot of complaints are being thrown around. Whether it was about their thrifty nature or the case or low and fixed incomes, the former announcement carried significance and hope for many people. There might be logic in waiting for a cheaper EV in the market. However, that certain wait is also wrong for all the right reasons!

Will there even be a $25,000 Tesla?

You don’t need to be Sherlock Holmes to find accounts of broken promises from Tesla. Remember the Roadster being due to go on sale in 2020? Does the Cybertruck ring any bells? At least these projects were revealed to the public in one capacity or the other. As for the $25,000 Tesla, we have Musk’s tweets and some online speculation as the only solid evidence – Which isn’t even that much solid at all. The lack of a functional prototype points into one direction: The car is nowhere near series production. Let’s assume Tesla does announce this entry-level car in the near future, it’s highly doubtful to be priced at 25 grand. Granted that battery tech costs are coming down, but still the cheapest EV on sale in the US market (the Nissan Leaf) is priced at $27,400 excluding federal taxes.

Why not wait for the cheaper option?

It’s not like people are going to wait idly. The anticipation will most likely involve dragging around a high mileage vehicle until the right option comes along. Such vehicles are going to use up your hard-earned money that can be used elsewhere. That is precisely the reason why waiting is not the best of options. Even so, it might prove costly if you add up the numbers in the long run. Think of it yourself, it is not something that can go on forever, right?

Consider Used EVs for sale

First things first. Buying a 2-3 years old used EV is a pro financial move, especially for the average frugal person. The aspirations of a new car are real, but they can throw your finances off the track with the depreciation that comes in the initial years. Something that drives people away from the idea of buying a used EV is the worry of frequent issues and maintenance. Keep this in mind: EVs for sale in the market belong to the modern era. They would eventually last longer and have fewer problems in comparison to older used cars.

Tips for Buying a Used EV

There are all sorts of EVs for sale in the market. It’s better to plan ahead and avoid any last-minute confusions. It can specifically be unnerving for first-timers with no oil dips, coolants, or other such things to check (Duh, It’s an Electric Car). But once you seal the deal, you’re going to be riding in style with a lower carbon footprint. Consider all variables when buying, here are some tips to help you out:

1. Think about what you need from your EV. Go for the option that fits all or most of your requirements.
2. Compare the costs, especially in the long run.
3. Check the brakes, tyres, and suspension of the vehicle.
4. Check the remaining warranty, both in terms of battery and range.
5. Check the overall condition, vehicle registration, and history report of the vehicle.
6. Put the used EV through a road test before finalizing the deal.

Final Thoughts

Waiting for the $25,000 Tesla seems to be a sound option only if you live someplace where you can get away with not owning a car. Use the time window to save up on money until Tesla decides to pick up their project once again. On the other hand, a used EV is your ideal choice for the time being. You may not get the longest range or super-fast charging speeds, but it might as well be a tradeoff worth making if you want to ride the EV bandwagon on a budget.