- Should I Sell My Tesla?
Demand is high, but are you willing to sell your Tesla?
Table of Contents
Tesla owners (or maybe we should say former Tesla owners) are selling their used cars for a profit. Now everyone is asking, “Should I sell my Tesla?”
And increased volatility in gas prices has EV demand skyrocketing, which means those profits are only going to grow in the foreseeable future.
Throughout modern history, non-collectible used cars depreciate in value. The day you buy a car is the most expensive it will ever be unless it’s rare or special.
Used cars have almost always been cheaper than new cars — that is until now.

The top three reasons you should sell your Tesla now
- Used Tesla prices are higher than new prices.
- The used Tesla market won’t stay this hot forever.
- Tesla is building cars faster, meaning prices will go down.
Can I Sell My Tesla for a Profit?
Research group Recurrent Auto reported the used prices of the EV models they track rose by 25% from March 2021 to March 2022.
On the Carmigo Marketplace, we’ve seen an almost 15% increase in the sale price of used Teslas in the last three months compared to the first three months of 2022.
“We’ve seen a more than 13% increase in the sale price of used Teslas in the last three months compared to the first three months of 2022.”
The LA Times recently interviewed a number of people who think of themselves as Tesla flippers — people who buy and resell Teslas at a profit.
If you’re tired of intermittent power and auto-pilot issues, it may be time to sell that Tesla. Maybe you’re worried about the lifespan of your battery, move on before it’s too late. And selling your Tesla now means you could make a little money in the process.
Carmigo Marketplace Prices

In the second quarter of 2022 (April-June) Teslas on the Carmigo Marketplace sold for nearly 15% more than the average dealership trade-in price.
The already inflated price of used Teslas was even higher for our sellers.
In fact, Carmigo sellers sold their used Teslas for 9% more than the average private sale and 4% higher than the average used car dealership sale.
Similarly, hybrid cars are selling for 22% over MSRP (new car sticker price) and plug-in hybrids for 32% over MSRP in 2022.
So if you’re thinking about selling your Tesla (or any EV or hybrid), consider listing it on the Carmigo Marketplace to see how much you can make. It’s always free to list and you have no obligation to sell unless the highest offer meets or beats your set price.
A Weird Market

Why are used car prices higher than new car prices? Well, the market is weird.
In fact, the number one reason you should sell your Tesla is because the market is weird.
Here’s the short version: When more cars are available, the prices go down, when fewer cars are available, the prices go up. It’s what economists mean when they say, “supply and demand.”
Let’s look at a few purely hypothetical examples of factors that can lower the supply of new cars:
- Global pandemic that causes factory shutdowns
- War that diverts auto parts
- Fuel shortage
- Microchip shortage
- Shipping pile-up that slows down global trade.
But those are just hypothetical. And as those hypothetical examples level out, buyers will pay less and less for used cars. So you want to sell when demand is high (which is right now).
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How to Read the Used Car Market
To know your car’s fair market value, you’re going to need to know how to read the used car market. Let’s get into it.

The Quickest Selling Car: Tesla
The Model 3 and Model Y topped the list of best-selling cars in Q1 of 2022
In fact, Tesla sold more EVs in the US than any other automaker, making up about 75% of the EVs sold in the first quarter of 2022. The Model Y and Model 3 are the best-selling EV models this year.
Tesla Is Breaking Delivery Records
The company is also breaking its own delivery records quarter after quarter.
It produced more than 305,000 cars and delivered more than 310,000 during the first quarter of 2022. And Tesla achieved these numbers despite COVID outbreaks forcing two extended shutdowns at its Gigafactory in Shanghai. The Shanghai factory performs final assembly of Model 3 and Model Y vehicles.
The country’s largest automaker (GM) delivered fewer than 500 EVs in the first three months of 2022. Hyundai is the only company that reported EV sales growth in the US this past quarter. Green Car Reports also reported sales decreases by Audi and Kia.
With so little increased production from Tesla’s EV competitors, demand for Tesla is only poised to go even higher as more and more people make the switch to electric. That means even more demand for Teslas and even more money for you.
Should you sell your Tesla now? If you want to make money, yes.
Where to Sell My Tesla
With so many people vying for a Tesla these days, you can sell it almost anywhere — a newspaper ad, a dealership trade-in, one of those neat vending machines. But you probably want to factor in money and convenience.
Margins are so crazy right now that you stand to profit considerably if you choose your sale method carefully.
Instead of getting one low-ball trade-in offer, the Carmigo marketplace platform pits car dealerships against each other in competition for your car. So prices tend to be higher than they would be through a private sale or a trade-in.
An All Mobile Marketplace
Selling through Carmigo means you can list your car from your phone, and we’ll pick it up when it sells. You don’t have to talk to any strangers or field low-ball offers.
And as we said earlier, Teslas on the Carmigo Marketplace sold for nearly 15% more than the average dealership trade-in price in the last three months.
Are you still wondering, “Should I sell my Tesla?” Then it may be time. Try listing it on the Carmigo Marketplace to see how much money you could make. Even if you’re still on the fence. It’s always free to list and you have no obligation to sell unless the highest offer meets or beats your set price.



Before you decide to sell, you must know how much money you’ll make.



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Auctions Create Social proof:
At our core, humans gauge our own personal risk based on the actions of those around us and close to us, and this is called social proof.
A car is only worth what someone will pay for it. But in an auction setting, each bid redefines what the car is worth. The more dealerships bidding, the greater the social proof that your car is actually worth more.
Imagine you’re shopping for your next car and have narrowed your options down to three. What if two of your friends bought one of those cars and were excited about it, would you feel better about buying that model?
The Principle of Scarcity:
Scarcity is similarly defined in both economics and psychology: The less access we have to something, the more we value it.
All used cars are different, so your car is unique. When it sells, every other buyer misses out on that particular car. Human beings instinctively value scarcity.
We wear diamonds and gold because they’re rare. We pay more for limited-edition sneakers. Buyers will pay more for your car, the more unique it is, and in a used car marketplace every car is unique.
Auctions Leverage Multiple Buyers:
By exposing your car to more buyers, you’re increasing your odds of finding a buyer in a desert.
A trade-in offer is based on the needs of one dealership. Making the car available to multiple car dealerships with differing inventory needs creates a fairer market price.
Auctions Create Competition:
Humans hate to lose. It’s wired into our brains. Because bidders go head-to-head in auctions, your car can play into the human instinct to come out the victor.
The dealerships bidding on your car are essentially competing in a game where your car is the prize. And each bidder is from a different car dealership, so they’re competing on multiple levels.
Auctions Are Time-Restricted:
This also plays back into the scarcity principle. There is no second place in an auction, so you have to have the highest bid when time runs out.
Our one-day auctions ensure that you can sell your car fast, but also gives bidders a hard deadline to make a decision.
Then Why Do Dealerships Participate?
Dealerships flock to the our auction marketplace because they know we’ll have a diverse selection of cars, including the ones their specific customers want most.
You got a low-ball offer on your car last time you took it to a dealership because that particular dealership didn’t need your car.
Dealerships in Denver need more 4-wheel drive crossovers than dealerships in Florida. Dealerships in rural Texas need more crew-cab trucks than dealerships in urban California.
Auctions like ours have a large dealership footprint which allows us to match the specific supply with the specific need.