Used Tesla Model S Plaids are quickly lowering in price. Today, used examples are in the $60,000 range with relatively low miles. The Model S Plaid cost $131,440 in 2021, so buyers can find these sedans for nearly half their original prices. But here's the kicker: a 2024 Tesla Model S Plaid now starts at $91,630. So, for those who bought one in 2021, their cars instantly became worth $39,810 less to savvy buyers. Add luxury sedan depreciation into the mix, and Model S Plaids are going for nowhere near what they were going for.
One notable pick is a 2021 Tesla Model S Plaid with 51,000 miles listed for sale at a Los Angeles dealership. While 51,000 miles is on the higher end (and out of the basic warranty period), it is listed for $59,999. It costs $131,440 when new since it is the base spec: Pearl White Multi-Coat exterior paint coat and black interior. It lost $71,441 after being on the road for two and a half years. That's 54.4 percent depreciation.
An Orange County, California dealership is selling a 2021 Model S Plaid for $75,475, including some silly dealer add-ons like door sill guards and a security tracker (All 2017 and newer Teslas have their own security system: Sentry Mode). Even including the overpriced and unnecessary add-ons, this 14,000-mile Plaid is a far cry from its original price. This one comes in Deep Blue Metallic and features the 21-inch Arachnid wheels and FSD (cost $10,000 at the time). The total price when new is $147,630. That is $72,155, or 48.9 percent of the value evaporated thanks to depreciation.
Model S Plaid: The Overview
The Tesla Model S Plaid comes with a 99kWh battery pack, of which 95kWh is usable. The 2024 model year offers an EPA-estimated range of 320 to 359 miles (originally 348 and 396), depending on wheel selection. Our own Tom Moloughney recorded 300 miles with the 21-inch wheels, and Out of Spec Studios recorded 365 miles with the 19-inch wheels— the latter is incredibly respectable. It can accept up to 250kW of power when charging.
The Plaid's most notable feature isn't its range; instead, it's its raw power. The electric five-seater makes 1,020 horsepower and can accelerate from zero to sixty in the low 2-second range. Tesla says it can reach a top speed of 200 miles per hour with the $20,000 Track Package. Especially when used, the value proposition for Plaid's unbridled power and solid range are unmatched. But should you buy one?
Verdict: Plan To Purchase A Plaid?
While Tesla Model S Plaid prices are coming down, some reliability concerns exist. Unlike the Model 3 and Y, the S and X are pretty complex (and based on older platforms) and are more prone to issues. These include the air suspension system, power retracting door handles, yoke-related shenanigans, and more. That said, the Model S comes with a 4-year or 50,000-mile bumper-to-bumper and an 8-year or 150,000-mile powertrain warranty.
There likely shouldn't be any issues with the powertrain in that period, as Tesla powertrains, regardless of model, are quite robust when it comes to reliability. However, if the car is out of the basic warranty, some non-powertrain-related problems could appear.
So what's the verdict? With any new hyped-up vehicle or technology, good things will come to those who wait. From buyers who spent over $260,000 on Hummer EVs to those who paid $15,000 over sticker on Mach-Es, you will pay a premium if you want to be first. And to those who've waited, now you can secure a sleek 1,020 horsepower sedan for the price of a 2024 Lexus RZ450e Luxury. Though, you probably weren't cross-shopping the two anyway.
