Is a Used Tesla Worth It? Real Cost Breakdown for Buyers in Canada

If you’re searching for used Tesla, used Teslas, or wondering whether a used Tesla Model 3 or used Tesla Model Y is actually worth the money in Tesla Canada, you’re not alone.

At first glance, buying a used electric vehicle (Used EV / Used Electric Vehicle) sounds like a smart move—but many buyers still hesitate because of battery concerns, depreciation, and long-term ownership costs.

This guide breaks down the real cost of owning a used Tesla in Ontario, especially for buyers in EV Toronto, EV Mississauga, and EV Oakville—with no hype, just numbers.

Quick Verdict (For Busy Buyers)

Short answer:
A well-chosen used Tesla in Ontario can cost 20–40% less to own than a comparable gasoline luxury car over 5 years, and $15,000–$25,000 CAD less than buying a new Tesla.

The key is buying the right model year, mileage, and condition.

Purchase Price: New Tesla vs Used Tesla (Canada)

Used Tesla Model 3 – Canada

Item

New Tesla

Used Tesla

Purchase price

~$55,000 CAD

~$32,000–38,000 CAD

First-year depreciation

~$8,000+

~$3,000–4,000

Taxes & fees

Higher

Lower

Buying a used Tesla Model 3 instantly saves $17,000+ CAD.

Used Tesla Model Y – Canada

Item

New Tesla

Used Tesla

Purchase price

~$65,000 CAD

~$42,000–48,000 CAD

Depreciation curve

Steep

Mostly flattened

A used Tesla Model Y avoids the steepest depreciation years.

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Battery Cost: The Biggest Myth About Used Teslas

How Fast Do Tesla Batteries Degrade?

Real-world data from Tesla Canada and North America shows:

• First 2–3 years: ~5–8% degradation

• After that: ~1% per year

• Most used Teslas retain 90%+ battery capacity even after 100,000 km

Important:
Battery degradation happens fastest early on—meaning many used Teslas are already past the worst stage.

Tesla Battery Warranty (Used EV Advantage)

Most used Teslas still include factory battery coverage:

• 8 years or 160,000–192,000 km

• Warranty follows the vehicle, not the owner

This is a major advantage compared to traditional used gas vehicles.

Energy Cost: EV vs Gas in Ontario

Fuel vs Charging (Ontario Rates)

Cost Type

Gas Car

Tesla EV

Annual energy cost

$2,500–3,000

$500–700

5-year total

$12,500+

~$3,000

Driving a Used EV in Ontario can save $9,000–10,000 CAD in energy costs alone.

Maintenance & Service Costs

Tesla vehicles eliminate many traditional maintenance items:

No:

• Engine oil

• Transmission

• Spark plugs

• Timing belt

Minimal maintenance:

• Tires

• Brake service (regenerative braking reduces wear)

• Cabin air filters

Average maintenance for a used Tesla is typically under $500 CAD per year.

Insurance & Hidden Costs (Being Honest)

Insurance in EV Toronto / Mississauga / Oakville

• Tesla insurance is not the cheapest

• Comparable to BMW or Mercedes

• Varies widely by city, driving history, and model year

Tip: Always quote locally—EV Toronto insurance ≠ EV Oakville insurance.

Tires & Glass

• Performance tires may wear faster

• Panoramic glass repairs are more expensive—but rare

These costs exist, but they are not deal-breakers when compared to fuel savings.

Best Used Tesla Models to Buy in Canada

Recommended Used Teslas

Used Tesla Model 3

• Model years: 2019–2022

• Mileage: 30,000–80,000 km

• Clean history, no structural accidents

Used Tesla Model Y

• Model years: 2021–2023

• Improved build quality and battery efficiency

Used Teslas to Avoid

• Extremely low-priced vehicles with accident or structural damage

• Vehicles with third-party battery modifications

• Very early model years with minimal price advantage

5-Year Total Cost Comparison (Real Numbers)

Used Tesla vs Gas Luxury Sedan

Cost Category

Used Tesla

Gas Vehicle

Depreciation

~$15,000

$20,000+

Energy

~$3,000

$12,500

Maintenance

~$2,000

$5,000

Total (5 yrs)

~$20,000

~$37,500

That difference alone can pay for another car.

Is a Used Tesla Worth It in Ontario?

Yes—if you buy smart.

A used Tesla in Canada makes the most sense when:

• You avoid the steep depreciation of new vehicles

• The battery is still under warranty

• You benefit from low EV charging costs in Ontario

For many buyers in EV Toronto, EV Mississauga, and EV Oakville, a used Tesla or used electric vehicle remains one of the most undervalued ownership decisions today.

How to Buy a Used Tesla

Looking to buy or sell a used Tesla in Canada? At Carnex, we provide transparent vehicle history reports, professional inspections, and competitive valuations to help you shop with confidence.

Are you considering a Tesla Model Y or model 3 for sale in Canada? If you enjoy our content and want to book a free test drive, please give us a call now! ☎️:647-812-1067

We have tons of Tesla inventory! Used Model 3, Model Y…  Carnex is EV specialist whose location is in Mississauga, Ontario. We will provide low price and high quality if you choose to buy used Tesla from us. Feel Free to contact if you have any questions!

Visit Carnex.ca today to explore our latest inventory of used Teslas in Ontario — and experience the future of driving, today.

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