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Aside from the vehement defenders of car speculation, most people will tell you that cars aren’t an appreciating asset. That much is never quite as clear as it is with new cars and depreciation over the first few years. And when you look at high-dollar rides like the Tesla Model S Plaid luxury EV sedan, the depreciation and trade-in value can be straight-up heartbreaking. 

A YouTuber was surprised to discover he had lost nearly $100,000 in value with his luxury EV

Kyle Conner of the EV review channel “Out of Spec Reviews” bought a Tesla Model S Plaid in 2022. After optioning the car to his liking, Conner was looking at a $140,940 bill for the black super sedan. However, Conner was understandably less-than-pleased with the trade-in value two years later. 

When Conner evaluated the vehicle for trade-in, it was at $46,400 in October of this year. Considering how much his Model S Plaid originally sold for, Conner is looking at a decrease of $94,000 in value. That’s 67% of its original price. 

Let’s get something straight here. The number Conner received was a trade-in value from Tesla. Tesla dropped the price of the top-trim Model S by tens of thousands of dollars between 2022 and 2024. Specifically, the luxury EV sedan started at around $137,440 in 2022. Shockingly, the ballistic EV sedan’s starting price was about $91,630 in 2024. And as wild as it might sound, it’s typical for a two-year depreciated trade-in value to be much lower than the original purchase price. 

Of course, social media commentary didn’t give Conner any sympathy. One commenter responded with “Bro just found out that cars depreciate but is acting like it only happens to Teslas.” Another commenter slammed Conner for buying the car in the first place. “Why the hell would you spend $140,000 on a Tesla,” they judged. 

Interestingly, Conner responded to a video by Instagram user Chris Pearce detailing his situation. “I wasn’t shocked at the depreciation – just shared the numbers with a single caption “depreciation” not sure where you got the shocked from lol,” Conner commented. Of course, commenters weren’t kind to Pearce either. Several viewers gave him guff for comparing the luxury EV sedan to a BMW M5 CS. Just the internet being the internet, I suppose. 

Check out the short social media video detailing the luxury EV heartbreak below!

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Staff Writer

Erik Sherman

Erik Sherman joined the MotorBiscuit team as an Autos Writer in 2022. An admitted petrolhead and an avid motorcyclist, Erik has owned everything from classic cars to motorcycles to modern driver’s cars. Erik also has extensive experience with military and emergency vehicles, ranging from ambulances and fire engines to MRAPs and Humvees. Erik is an eager car and motorcycle reviewer with expertise covering everything from sports cars and electric motorcycles to pontoon boats and jet skis.

Erik holds a Bachelor’s Degree from the University of Texas at Austin. He also studied Chinese, Energy, and European Politics at the University of Glasgow in Scotland. Erik’s background is unorthodox; he is a United States Marine Corps (USMC) combat veteran, water survival practitioner, and a former firefighter/EMT. Additionally, Erik is a regular volunteer and former instructor with the American Red Cross (ARC). When he’s not working, you can find Erik on his motorcycle or out for a spirited drive.