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Tesla's declining value and popularity has hit existing owners hard, as one Model 3 driver has revealed the staggering amount of money they've lost on their vehicle after just two years of use.
Despite being the most valuable car company in the world, Tesla's fortunes in 2025 aren't exactly looking great. Following CEO Elon Musk's move into government with the Department of Government Efficiency, Tesla has seemingly suffered from a lack of leadership and tumbling popularity as a consequence of Musk's public image.
There have been countless protests and even incidents of vandalism against the electric car manufacturer's dealerships, and individual Tesla owners have illustrated the negative repercussions they've felt by owning one of Musk's vehicles.
Money speaks louder than words though, and one Tesla driver on Reddit has revealed quite how much Tesla's overall decline this year has affected the sale price of their Model 3.
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"I bought a Tesla 2 years ago," the post begins. "After 8,500 miles, it's lost over half it's value." Ouch. It's not like their Model 3 has had particularly heavy use either, as the Federal Highway Administration indicates that the average American drives around 13,500 miles per year.
They purchased their Model 3 for $34,590 on October 23, 2023, but now just 556 days later Carvana is offering them a measly $16,200 - which is $18,390 lower and less than half of the original sale price despite only adding 8,589 miles.
Cars do generally decline in value after purchase, with many noting that you've lost money as soon as you've driven off the lot, but this is a particularly steep decline that's likely in line with Tesla's declining reputation.
The car company saw its first sales decline late last year, indicating that the demand for new Tesla vehicles is tapering off, and many inside the r/RealTesla subreddit are seemingly relishing this particular driver's misfortune.
"Sorry you got f***ed, but this really does make me happy," writes one user, whereas another notes that "you bought it after Elon showed himself to be an a**hole. Suck it up, cupcake."
Perhaps the biggest punch in the gut for this particular driver though is the realization that they would have been cheaper paying for an Uber over the last two years, based on the amount of money they've lost.
They note in their post that the average price of an Uber ride per mile is between $0.70 and $2.00, whereas their cost-per-mile - calculated by dividing the declined value by miles driven - is $2.14 per mile.
Of course, you lose the convenience of having your own car that you can ride at any point, and you don't have to deal with any of Uber's surcharges, but there's also the boon of not having to drive - and they've not even factored in the cost of charging the Tesla too, which no doubt would have added a fair amount more unless they've found a clever workaround.
If you're a heavy driver then certain Tesla owners have shown that the electric vehicles can save you significant amounts of money in the long run compared to their fuel-powered counterparts, but this particular case is one that might make you think twice before dropping thousands on your next Tesla car.
