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The Cost of Selling Your Tesla and Buying a Newer Model

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With Tesla constantly releasing new updates, it’s inevitable that your newly purchased Tesla will one day feel outdated. A prime example would be the flood of RWD Model S’ that hit the second hand market after Tesla announced that it would release the dual motor “D” variant. And now with the Model X available, Model S owners are thinking about trading in their beloved electric sedan for the newest shiny Tesla with falcon wing doors.  I would be one that falls into this category. Here’s my analysis on what it would cost to upgrade to a newer Tesla.

A short while ago I configured a Model X and a Model S to specifications that I would buy in present day. This came out to $103,200 and $88,450 respectively after available tax credits. For reference my current Model S cost me $92,443 after tax credits.

Understandably, Tesla does not offer a retrofit for the autopilot hardware though we calculated a hypothetical $67,000 cost to upgrade if it were available. Maybe one day Tesla will offer upgradeable hardware but for now having recurring firmware updates that refreshes functionality on the car isn’t so bad.

Trade Ins

If I were to use Tesla’s math to compute trade in value for my 21 month old Model S with 55,000 miles, it would theoretically have a value somewhere along these lines:

Trade in calculation

This math is clearly not accurate, and since I was seriously considering the Model X or a newer Model S, I asked Tesla for a true trade in value.

Tesla came back with a trade in value of $49,200. Their resale price as a CPO vehicle would be $55,100:

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Trade In Value

This is a heck of a lot better than the original formula, but I’ve still used 48% of the original value in less than 2 years. At this trade in value, the effective cost of trading up to new X or S would be $54,000 and $39,250, respectively.

CPO Comparisons

My trade in value made me curious on what other CPOs sold for so I hit up the excellent EV-CPO Consolidator which provides a great deal of information about Tesla CPO cars.

Browsing that site you’ll be hard pressed to find a 2014 Model S with anything close to my mileage. The closest I found was a 2014 Model S in Los Angeles with 48K miles listed for sale at $55,600, just a bit above the quote I got. I don’t know if that car is in as good a shape as mine (I’ve seen some really beat up CPO cars), but the pricing, age and configuration are at least consistent with my quote.

As you’d expect mileage and available features make the most difference in the CPO price. 2014 S85 model CPO prices can range from a low of $55,600 to $79,200 for a low mileage, late 2014 loaded Model S. Within New England the range is only from $56,200 to $67,400.

Kelly Blue Book

KBB Trade inNext stop was Kelly Blue Book. Their trade in value came in between $49,305 and $57,740 with an average of $53,549. My Model S, before taxes, was $93,970. So the trade in price per Kelly Blue Book is 57% of the original price.

If you believe the KBB quote, Tesla is on the low end of the trade in values. This seems to be consistent with some posts I’ve seen on TMC and the Tesla forum. If you find your own dealer and trade directly with them you can potentially increase your trade in value by up to $5,000. If you sell privately you may be able to get up to $10,000 more over Tesla’s offer.

Selling privately however can bring its own set of problems, especially in states like Massachusetts where there are strong Lemon Aid Laws that allow individuals to buy a car, drive it for 7 days and then bring it back for a 100% refund if for some reason there’s an issue with state inspection. Selling privately also comes with a huge commitment to arrange for test drives and educate your driver on how to operate an EV. Here in New England EVs aren’t everywhere yet and the Tesla is still a rare car to see.

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Competitive Comparisons

To see how other cars “in the same class” compare to the Model S in terms of trade in value, I picked the Porsche Panamera S. E-hybrid to benchmark against. The average trade in value for that car is $53,746 which is very comparable to my Model S. Configuring a Panamera will drive you crazy but it seems that a new one similarly configured would go for $95,270 before taxes. So the trade in price per Kelly Blue Book is 56.4% of the original price, which is about the same as the Model S.

According to EVObsession, the Mercedes S-Class was #1 in the Large Car Luxury Market in 2014, but the Model S blew past that in 2015. I came up with a new price of $91,328 and an average trade in value (same mileage/year as mine) of $57,782 or 63.2% of the original price — the Mercedes seems to retain a bit more value although they’re still in the same range.

Summary

That very first mile you put on your new car has a huge effective cost whether it’s on a Tesla or any other car from a different manufacturer. Trade in values for Model S’ are in line with other cars in its class, although Tesla’s trade in value tends to be on the lower end of the spectrum.

If you’re looking to get top dollar for your used Model S, consider trading it in to a company other than Tesla or selling your Model S privately. Both bring additional levels of hassle but that extra lift can be worth the additional value.

Even if I were to receive $5,000 over Tesla’s trade in value, I’d still be looking at an upgrade cost of over $30,000 to trade up from my Model S (which is less than 2 years old) to a new dual motor Model S with  autopilot, upgraded seats, and all of the other improvements and tweaks Tesla made over the last couple years. Is it worth it?

If the gap was closer perhaps the decision would be a lot easier, but in this range for me, and with the recent news that Tesla will be adding more autopilot hardware in the future, I think keeping my Model S and enjoying it is the right way to go.

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Besides, with more Model Xs hitting the streets every day, the all wheel drive “D” Model S will inevitably start appearing as CPO inventory. This will open up a whole new world of options. Wait and see is probably still the best choice for those looking to trade up from an earlier Model S.

 

"Rob's passion is technology and gadgets. An engineer by profession and an executive and founder at several high tech startups Rob has a unique view on technology and some strong opinions. When he's not writing about Tesla

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Elon Musk

Elon Musk says he knows how to save Earth for a billion years

Elon Musk says sentient AI satellites launched from the Moon could keep Earth livable forever.

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Elon Musk spent part of his weekend describing a plan to keep the planet livable for roughly a billion years, and it starts with satellites that can think for themselves.

In a post on X, Musk argued that swapping fossil fuels for solar and wind power will not be enough to protect humanity from what he called extremely severe extinction events, the kind that occur roughly every 100 million years. His fix is what he called sentient satellites, or solar-powered satellites, controlled by AI, that would sit in a fixed spot between Earth and the Sun after being launched off the Moon using a giant electromagnetic catapult instead of rockets.

The satellites’ onboard AI would make continuous, small adjustments rather than waiting on human instructions. The mass driver is Musk’s proposed way of getting the raw material there cheaply by using an electromagnetic launch track built on the Moon, where lower gravity and no atmosphere make it far easier to fling cargo into space than it is from Earth.

Musk shared a Grok generated estimate suggesting roughly 5 percent of Florida’s land, or about 1.68 million acres, could face regular flooding by 2070 under a high sea level rise scenario, and said humanity has about 50 years to act before coastal living looks very different than it does today.

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This is not the first time Musk has floated the idea. He raised a similar concept in November, describing a solar powered AI satellite constellation that could make tiny adjustments to incoming sunlight to fine tune Earth’s temperature. Musk has also tied planetary risk to his broader vision at SpaceX, where his compensation package is explicitly linked to establishing a self-sustaining Mars colony, one he has described as an insurance policy against the kind of extinction event he referenced this weekend, and where he has said humans could set foot within five to seven years.

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Lifestyle

Police sergeant recounts his Neuralink journey with Elon Musk’s brain chip

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neuralink-patient-registry-volunteers

A former Vancouver police sergeant with ALS accounts his journey to become a patient for Elon Musk’s Neuralink wireless brain-computer interface technology.

“I’m texting you from my brain right now.” That was the first message Lee Marten sent after waking up from Neuralink surgery, five hours and one migraine after dozens of threads were stitched into his motor cortex.

Marten, a former Vancouver police sergeant, is one of the first Canadian ALS patients to receive Neuralink’s N1 brain implant, and the 26th recipient overall. He tells his story in a first-person account published by Maclean’s.

Marten recounts how he was a healthy, athletic Vancouver police sergeant until April 2022 when symptoms of muscle twitching and balance loss, were followed by a bad fall that broke his leg. He would eventually be diagnosed with ALS in early 2025 at the age of 47. ALS, also known as Lou Gehrig’s disease, is a fatal neurodegenerative disease that progressively destroys the motor neurons controlling voluntary muscle movement, eventually taking away a patient’s ability to walk, speak, swallow and breathe. There’s no cure, and most patients live two to five years after diagnosis.

He describes the devastation of the diagnosis and how he began preparing for it while connecting with other young ALS patients through a WhatsApp group called Young Guns. Through that group he learned about a Neuralink clinical trial at Toronto Western Hospital and, after a roughly seven-month vetting process (physical assessments, psychiatric evaluation, a final interview with the Neuralink team), was accepted this past April as the trial’s 26th recipient and the first Canadian ALS patient to get the N1 implant. He recounts the May surgery in detail, including the robotic system that stitched 64 threads into his brain, and describes the app, Link, translating his neural signals into cursor control, which he was using within hours of waking up.

Marten walks through what daily use looks like, including weekly “brain training” exercises, a real-time neural-activity display, charging the implant via a beanie-mounted MagSafe charger, and using the implant for emailing, texting, social media, and gaming via a “Magic Box” that connects it to other devices. He also gives brief context on brain-computer interface history and quite candid about Musk, calling him “divisive” but saying he found him “easy to admire.

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The piece closes on a heavier note, with Marten seeking to pursue medical assistance in dying as his symptoms progressed, noting that he’ll be able to communicate his final words to his family through Neuralink rather than facing a silent decline. He expresses hope the data from his case will help future ALS patients, even without a cure in his own lifetime.

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Investor's Corner

Tesla Robotaxi gets a massive upgrade in Nevada

Nevada regulators just approved a massive expansion of Tesla’s robotaxi fleet across the entire county.

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Concept art of a Tesla Cybercab in Las Vegas Strip as rendered via Grok

Tesla’s robotaxi footprint in Nevada just grew by roughly 500 times in a single regulatory vote.

The Nevada Transportation Authority approved Tesla’s full Autonomous Vehicle Network Company permit on Thursday, clearing the way for the company to deploy up to 5,000 driverless vehicles across Clark County over the next 12 months. The decision came during a four hour general session meeting that Tesla investor Sawyer Merritt watched live and reported on X, noting the vote replaces the interim order that had limited Tesla to just 10 robotaxis on a narrow stretch of the Las Vegas Strip.

That earlier cap, covered here after it surfaced on August 13, came with restrictions that looked stricter than what Tesla runs in Austin: a 45 mph speed ceiling, no airport pickups, and a geofence confined to the Strip corridor. The new approval extends Tesla’s operating authority to all of Clark County, with room to request an even wider geofence across the state.

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Tesla representatives at the meeting said they have no intention of putting 5,000 cars on the road right away. Commercial rides are expected to start within 30 days, pending vehicle inspections, insurance filings, and fare approval, the standard steps every robotaxi operator in Nevada has had to clear.

Tesla’s own Robotaxi account replied to the news with a short line, The golden future is upon us.

The timing lines up with Tesla’s broader robotaxi push this month. The company is preparing to open Cybercab rides to the public in Austin as soon as this month, and it opened a sweepstakes for riders to win a seat at the launch event. Tesla filed its original application for a 5,000 vehicle Nevada fleet back in June, a request regulators trimmed to 10 vehicles when they issued the interim order in July. Thursday’s vote effectively grants the number Tesla asked for from the start.

Zoox, the Amazon owned robotaxi operator, has run in Nevada since 2025 and was capped at 100 vehicles before Thursday’s decision. Tesla’s new ceiling puts it well ahead of that comparison on paper, though the company has said its actual fleet size will depend on how quickly FSD v15 rolls out, the software update executives have called the gateway to scaling unsupervised robotaxi operations nationwide.

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