Ex-Hertz Tesla Model 3s Cost as Little as $14,000. Would You Buy One?
That’s around a third of the price of a new Tesla Model 3.
Hertz is offloading used Tesla Model 3s from its fleet at a deep discount. They may be former rentals, but they're cheap enough that you have to ask yourself—would you buy one for $14,000?
Hertz initially ordered 100,000 cars from Tesla, but has since pushed back its EV adoption for a multitude of reasons. The company blamed high repair costs and recent price cuts on new Teslas for the decision in an earnings call reported by CNBC. It's possible that the arrival of the 2024 Model 3's "Highland" facelift may also have pushed Hertz to liquidate. In fact, Hertz is already offloading excess Teslas, sometimes for less than half what they cost new.
Available cars can be found in Hertz's Rent2Buy portal, which have been listed for as low as $17,800 according to a screenshot published on Electrek. Accounting for the $4,000 federal tax credit available for used EVs, that takes the net cost down to $13,800. The cheapest cars depicted have already sold, so the lowest we found at time of publication was $20,500. Still, that's just $16,500 accounting for the tax credit.
No matter how you slice it, that's a strong value proposition for EV buyers. Sure, they're former rentals, meaning they'll have been mistreated by everyone who has touched them. And because they're Teslas, their interiors are Tupperware, repairs are expensive, and driving one will make your fellow motorists think you're into The Joe Rogan Experience and dubious supplements.
Still, from what we've seen of Teslas in commercial use, even constant fast-charging won't ruin a battery until you're nearing 200,000 miles. Your regular user will likely get a much longer lifespan out of theirs, and won't have to worry about an imminent $16,000 replacement. Considering the range, the price, and the access to the Supercharger network, it's hard not to see these Hertz Teslas as solid buys for those ready for an EV.
But what do you think?
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