WeBuyAnyCar responds after man took his £52,000 Tesla to see how much they would offer for it
No one likes to lose money - and in this current economic climate, even dropping your small change down the back of the sofa stings.
But next time you're sulking about the sorry state of your finances, spare a thought for the bloke who has just found out his motor has lost nearly half of it's value in just 12 months.
WeBuyAnyCar have now shared a response explaining why there was such a dramatic slump in the resale value of his Tesla - but it might just be salt in the wound at this point.
It's been drummed into us all that a car's value begins to decrease the moment it's driven off the forecourt, but Harley Perkins didn't realise just how true this statement was until he got his whip appraised a few months back.
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The YouTuber - who is best known online for producing content on cars, vans, and motorcycles - made a short video documenting his visit to a WeBuyAnyCar branch in the UK.
He swanned up to the car buying service believing that his Tesla Model Y, which he had purchased a year previously, would still be worth a fair few quid.
Harley said he had racked up less than 15,000 miles on the clock over the previous 12 months, adding that his swanky vehicle was still in 'pretty good condition'.
In the video which has since gone viral online, the car fanatic explained that Tesla Model Y's in similar nick to his were selling for between £36,000 and £37,000 on AutoTrader.
Harley voiced his suspicions that he might get 'lowballed' when seeking out a valuation, but it seems nothing could have prepared him for what WeBuyAnyCar were about to offer.
One of the employees from the car firm came out to inspect the electric-powered SUV, explaining to Harley that it was in 'Grade 2' condition - meaning there were some minor imperfections and a few signs of wear and tear.
Still, Harley had no idea that his car would be worth a hell of a lot less than the £52,000 he bought it for.
According to the inspector, the Tesla was now worth just £27,132 in the eyes of WeBuyAnyCar, which is almost half of what he paid for it.
Incurring such a huge loss on a motor in such a short space of time is bound to come as a kick in the b*llacks - but according to WeBuyAnyCar, it's pretty much inevitable at the minute.
A spokesperson for the firm told LADbible that Tesla owners are the ones who are being hit worst by this trend in depreciating value.
Acknowledging that the reduction in worth can 'be a shock' for a lot of people, WeBuyAnyCar outlined the reasoning behind how inspectors come up with a price.
"Once a car leaves the showroom, it begins to lose value - typically up to 35% in the first year for petrol or diesel vehicles," the spokesperson told LADbible.
"This is higher still for EVs, which depreciate faster and typically have higher prices so more value loss through depreciation can be expected - in some cases up to 50%.
"Factors like age, mileage, service history, condition, and even the number of previous owners all influence its resale value."
The company reckon that the potential depreciation of the car you're purchasing should be as much of a priority as other cost factors - like fuel economy and maintenance - when you're shopping for some new wheels.
WeBuyAnyCar continued: "Teslas are currently depreciating quicker than most models, with some other market factors also impacting resale value.
"Depreciation can be a shock for some car owners, so it's important to always be aware of what to expect when you make that purchase. We have a guide on EV depreciation and how car owners can help ensure they retain as much value on their EV as possible.
"We recommend anyone looking to buy a new car, whether straight off the forecourt or second hand, do their research into how the make and model they’re interested in depreciates, as some are more impacted by this than others."
Don't worry though, as there are some steps you can take to minimise the depreciation of your pride and joy, according to WeBuyAnyCar.
The firm suggests keeping your mileage to a minimum, ensuring you carry out regular maintenance and repairs, avoiding modifications, among other interesting tips.
Olivia Burke