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Monday, April 15, 2024

London named the worst place to buy a used Tesla

A new study from RegTransfers has revealed London as the worst city in the UK to buy a second-hand Tesla, thanks to above average pricing and mileage.

Analysing online listings for second-hand vehicles, the provider of personalised number plates has revealed that a used Tesla in London and the UK’s 10 largest cities currently sits at an average price of £33,273, with an average mileage of 34,152.

Ranking each city based on their combined performance against these figures, London provided the worst combination of price and mileage when compared with other cities.

Best major city to buy a second-hand Tesla

CityAverage Price Comparison to Avg.Price RankAvg.MileageComparison to Avg.Mileage RankOverallRank
Nottingham£32,767-£506431,302-2,85031
Leeds£32,842-£431532,932-1,22052
Liverpool£33,019-£254733,865-28763
Manchester£33,016-£257634,077-7574
Birmingham£33,948+£675831,957-2,19545
Leicester£30,548-£2,725134,484+33286
Bristol£32,033-£1,240235,124+97297
Glasgow£34,237+£964928,205-5,94718
Edinburgh£34,481+£1,2081030,202-3,95029
Sheffield£32,254-£1,019336,943+2,7911010
London£34,796+£15231137,805+3,6531111

Second-hand Tesla listings from London average at £34,796; £1523 above the national average. This places the city as the worst major UK region for second hand Tesla purchases, concerning price. Similarly, listings showed an average mileage 3,653 miles greater than the National benchmark – placing the region in last for miles on the clock. This means second hand Teslas in London have higher prices and higher mileages than other major UK cities.

National average price

Nottingham ranked as the best city in which to buy a used Tesla, averaging at £506 and 2,850 miles below the country-wide averages. Based on cost alone, Leicester averaged £2,725 below the calculated national average price – making it the cheapest city in which to buy a second-hand Tesla.

Based on cost alone, Leicester averaged £2,725 below the calculated national average price – making it the cheapest city in which to buy a second-hand Tesla. Meanwhile, Glaswegian listings ranked best overall for mileage, with vehicles averaging 5,947 miles less than the baseline of 34,152.

However, both cities suffer from poor scores in their other rankings. While listings in Leicester boast cheaper costs, they are slightly above average in mileage. Meanwhile, Glaswegian Teslas average less time on the road, but bear an above average price as a result. Overall, Leicester ranks higher; Despite being slightly above-average in mileage, the savings in cost are greater.

RegTransfers CEO, Mark Trimbee, said: “London’s performance in the second-hand Tesla market is perhaps unsurprising; Life in the capital is more expensive in almost every aspect, with prices continuing to rise. Despite these figures, it may still be possible for Londoners to find a great deal on a second-hand Tesla; the trick, of course, is to shop around for the best combination of price, mileage and age.”

Across all cities analysed, 79% of listings are Tesla Model 3’s – originally released in 2017. Most listings are three years old, and the majority show only 1 previous owner. The lowest vehicle discovered was a 2014 Model S for £16,500, located in London. The highest price discovered –  for a 2019 Tesla Model S also found in London – was £128,000.

Editorial credit: BoJack / Shutterstock.com

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