Would You Buy a Used Car From Tesla's Elon Musk?

Tesla has greatly increased its stock of certified pre-owned cars for sale on its Website as current, and new owners prepare to take delivery of the company's new Model 3, and it hopes to cash in on enthusiasts and fanboys looking for electric performance on the cheap.

Tesla maintains firm control of its used vehicles, which over time has created a dearth of supply amid steady demand. According to the publication Autolist, that's helped the Model depreciate more slowly than internal combustion-powered cars. Autolist said the Model S loses just 28% of its original value at 50,000 miles.

The Website Elektrek, which covers the electric car industry, wrote this week that it was rare to find a used Tesla Model S for less than $40,000 from the company in the past.

"But now," says Electrek, "Tesla is introducing a new version of the program for high mileage cars. They added dozens of them to their list and several are just over $30,000."

Tesla said the cars in its program get, "a full inspection, remaining battery and drive warranty," plus,"a two-year, 100,000 miles maximum odometer pre-owned limited warranty with 24-hour roadside assistance."

Tesla will begin to deliver the Model 3 to customers on July 1. The electric car company plans to churn out 5,000 Model 3's per week before the end of this year, and 10,000 per week next year.

This post originally appeared at: https://www.thestreet.com/story/14168394/1/would-you-buy-a-used-car-from-tesla-s-elon-musk.html

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