Tesla moves to guarantee resale value for buyers after price cuts

Tesla is rolling out a new financing option that guarantees what your car will be worth when you sell it back, aimed at buyers of the Model Y and Model 3. The program locks in a pre-set resale value at the start of a loan, based on things like loan length and yearly mileage. If you keep the car within those limits, that guaranteed value covers what's left on the loan, so there's nothing extra to pay to close it out. At the end of the term, you can hand the car back for that guaranteed amount, keep it and pay off the remaining balance, or sell it yourself and keep any extra if it's worth more.

This isn't relevant to home energy upgrades directly, but it matters if you own or are considering a Tesla alongside home solar. The move comes after Tesla's own price cuts in 2023 and 2024 tanked resale values, with some owners losing tens of thousands of dollars when they went to sell. Used Tesla prices have since stabilized and even risen slightly, which is likely why Tesla feels comfortable guaranteeing values now.

The program is starting in Australia only, through a local lender, and does not currently apply to rideshare drivers. There's no word yet on whether or when it might come to the US or other markets, so it doesn't affect current American buyers for now.