The Model 3 is arguably the most anticipated electric vehicle (EV) that Tesla has ever unveiled. The car currently has more than 400,000 pre-orders, despite the earliest shipping date for the vehicle set for late 2017. Considering Tesla’s past record for late deliveries, however, numerous fans of the vehicle expect the Model 3 to be made available as late as 2018 or even 2019. While the likely delays in the delivery of the Model 3 might be quite aggravating, those who would like to get their Teslas much earlier actually have a second option, through the carmaker’s less-known, but great CPO program.
Despite not being advertised as much, Tesla’s Certified Pre-Owned (CPO) program has actually been around for some time now, and the deals it offers are seriously not bad. Last year, Tesla’s CPO program featured excellent second-hand units of the Model S and the Tesla Roadster, complete with warranties and all the bells and whistles that the company’s vehicles are well-known for. Being pre-owned, the EVs were sold at a fraction of their original price.
Currently, the company’s CPO page offers Model S and Model X units, and while some of them are still on the more expensive side, there are some that go as low as $45,000. This is a really great deal, considering that the Model S, unlike the Model 3, was developed and rolled out as a luxury vehicle. Thus, while pre-owned, the vehicles in Tesla’s CPO program still remain in a class above the Model 3. Couple that with the fact that a well-equipped Model 3 would most likely reach around $50,000, Tesla’s CPO program becomes a lot more attractive.
The current Model S and Model X CPO program have a number of distinct advantages, and most of them make the pre-owned vehicles a more practical choice over the upcoming Model 3. The most notable of these advantages is the ordering process. Avid electric car fans have stated that purchasing a vehicle from Tesla is always an exciting experience. However, this is usually dampened by a lengthy ordering process, with some Tesla owners stating that they had to wait for months before actually receiving their vehicle.
This inconvenience does not exist in the company’s CPO program, as each vehicle in the list is ready to ship to its next owner. Tesla’s certified pre-owned vehicles are comprised of EVs that were traded in for newer units, and considering that Tesla owners are as careful with their vehicles as they are with their most prized gadgets, the cars in the program are generally in excellent condition.
Tesla itself has stated that each pre-owned vehicle the company sells is restored to near-new quality. The pre-owned vehicles that Tesla is currently offering are not that used, either, with most on the list having just around 25,000 miles on them. Some newer, albeit pricier models on the Tesla CPO program, are even better, having less than 10,000 miles. This, and the fact that Tesla is selling these cars at a fraction of their original cost, makes the CPO program a very attractive option for those who are set for a very long wait for the Model 3.
As great as Tesla’s certified pre-order program is, however, there are some notable drawbacks with the vehicles as well. Among them would be the absence of tax rebates that EV buyers have been taking advantage of for years. The low cost of the vehicles, however, are generally enough for CPO buyers to overlook this disadvantage. Apart from this, not all pre-ordered Tesla vehicles are equipped with Tesla’s Autopilot software. Thus, those who are purchasing a pre-owned vehicle are best advised to make sure that the car they are acquiring has all the features that they need.
Then again, the fact that pre-owned Tesla vehicles usually take just a week or so for delivery is already enough for EV fans to grab the carmaker’s generous deals. After all, Tesla is quite new to the automotive industry, and while the company is an established name in the EV market, it is still a new firm compared to the veterans in the field such as Ford and Chevrolet. This has caused Tesla to be extremely careful with its reputation. Thus, those purchasing a pre-owned vehicle from the company could be assured that the car they are buying is not defective in any way.
Considering the costs associated with restoring its CPO vehicles and the prices that Tesla offers them, analysts believe that Tesla is actually selling its pre-owned vehicles at a loss. As every smart buyer knows, units sold at a loss usually equates to more value for customers. Thus, for those who are getting impatient for the Model 3’s production to start, or those unwilling to deposit $1,000 for a car that would probably not see the streets for a year or two, Tesla’s certified pre-owned program might very well be what they need.
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