Is It the Right Time to Buy a Tesla Model S? A Deep Dive into the 2021 Refresh
With the prices of the Tesla Model S on the decline, many are asking if now is the right time to invest in what is arguably one of the most iconic and influential electric vehicles (EVs) of the 21st century. Tesla’s Model S has not only set benchmarks for EV performance but has also reshaped the public’s perception of what an electric car can do. Despite the lack of a major redesign in 2021, Tesla made some important updates to this aging sedan. Now, with the car entering a more affordable price range in the used market, this might be the perfect moment to get behind the wheel.
Key Highlights of the 2021 Tesla Model S Refresh:
- EPA-rated range of up to 402 miles on a single charge
- Dual motor setup pushing 670 horsepower, or over 1,000 with the Plaid model
- Used models now priced in the low to mid-$40,000 range, making them competitive with Tesla’s smaller, newer models like the Model 3 and Model Y
Let’s explore what makes the 2021 Tesla Model S Refresh a potential steal in today’s market, and whether this premium sedan is still worth the investment in comparison to Tesla’s other offerings and electric competitors.
Depreciation and Used Market: Model S vs. Model 3 and Y
One of the most striking aspects of the Model S right now is how much the used market has brought its prices down. When new, a 2021 Tesla Model S Long Range could cost anywhere between $80,000 and $96,000, depending on configuration. Today, the same car can be found in the used market at around $45,000, often with mileage below 40,000.
For instance, a 2021 Deep Blue Metallic Model S with just 30,000 miles is currently listed at $43,775—down 52.7% from its original purchase price of $92,440. Another example, a 2021 Midnight Silver Metallic Model S with upgrades such as 21-inch Arachnid wheels and Full-Self Driving (FSD), originally cost $101,940 and is now priced at $44,825. This represents a 56% depreciation in just over three years.
These prices position the Model S on par with the brand-new Tesla Model 3 and Model Y:
- Model 3 starts at $44,130
- Model Y starts at $46,630
While these newer models benefit from EV tax credits, bringing their prices closer to $36,630 and $39,130 for qualifying buyers, the Model S offers more premium features, higher performance, and greater driving range for a similar price.
| Comparison Box | Model 3 | Model Y | Used Model S (2021) |
|---|---|---|---|
| Starting Price | $44,130 | $46,630 | ~$45,000 |
| Range | Up to 358 miles | Up to 330 miles | Up to 402 miles |
| Horsepower | 283-450 hp | 346-425 hp | 670 hp (1,020 hp Plaid) |
| 0-60 mph | 5.8 – 3.1 sec | 4.8 – 3.5 sec | 3.1 sec (1.99 sec Plaid) |
| Interior Space | 5 seats | 5-7 seats | 5 seats, large trunk |
Tesla Model S: Tech and Performance Specifications
The Tesla Model S is one of the longest-standing EVs on the market, but don’t let its unchanged exterior fool you—the technology under the hood has evolved significantly.
- Charging Speed: The Model S accepts up to 250 kW charging, allowing a 10-80% charge in 31 minutes using Tesla’s Supercharger network. Compared to its smaller siblings, the Model S maintains its peak charging speed longer. It averages 129 kW from 10% to 80% and doesn’t drop below 100 kW until 65% charge is reached. While this is impressive, it is surpassed by competitors like the Audi E-Tron GT, which averages 191.4 kW.
- Range and Efficiency: Even with less efficient 21-inch wheels, the Model S achieved 335 miles of highway range in independent tests. In real-world terms, a 31-minute charge would deliver about 235 miles of range, which, combined with the widespread Supercharger network, offers strong performance for long-distance trips.
- Suspension and Handling: The Model S is equipped with adjustable air suspension, offering a range of 4.6 inches to 6.2 inches of ground clearance. It can be tuned for comfort or sport, stiffening the ride for a more thrilling drive. In “Insane” acceleration mode, its 670 hp dual motors can rocket the car from 0-60 mph in 3.1 seconds. If you opt for the Plaid model, you get a mind-blowing 1,020 horsepower with a 0-60 time of just 1.99 seconds.
Interior Features and Options
The 2021 Model S comes in three interior color choices—black (standard), white, and beige, the latter two adding an extra $2,000 to the price. Regardless of color, all trims offer a luxury experience with:
- Heated seats for all passengers and ventilated front seats
- Tri-zone climate control, managed via an 8.0-inch rear center touchscreen
- 22-speaker, 960-watt audio system, which delivers powerful bass and high-quality sound
- Panoramic glass roof and black microsuede headliner, adding to the upscale feel
A highlight of the interior is the 17-inch touchscreen, which tilts left and right for convenience. The Autopilot system comes standard, blending adaptive cruise control with lane-centering technology. While Full-Self Driving (FSD) is a pricey $8,000 upgrade, it promises hands-on automated driving in city environments, including stopping at traffic lights and stop signs. However, FSD performance can be inconsistent, so it’s something to approach with cautious optimism.
Potential Drawbacks and Considerations
While the Model S offers plenty of appeal, it isn’t without its potential downsides:
- Complexity: The Model S is more intricate than the Model 3 and Model Y, which generally rank as more reliable. Features like retractable door handles and air suspension are great, but they add complexity and more potential for issues down the road.
- Reliability: While newer Model S vehicles have been relatively dependable, the model is still considered less reliable than average by sources like Consumer Reports. Earlier versions from the 2010s had more frequent issues.
- Noise and Vibration: Some owners report inconsistent build quality, leading to unwanted noise, vibration, and harshness.
- Steering Wheel: The controversial yoke steering wheel found on the 2021 models has mixed reviews. Some drivers love the futuristic design, but others find it less practical. If you’re a traditionalist, you might want to pay $700 for a conventional steering wheel.
Should You Buy a Tesla Model S?
The Tesla Model S is an iconic American sedan known for its remarkable range, lightning-quick acceleration, and generous storage space. In the used market, the 2021 Model S offers impressive value, especially with prices dipping into the low to mid-$40,000 range. For those seeking a more premium experience than the Model 3 or Model Y, the Model S provides more space, faster speeds, and a greater driving range. Plus, with many used examples still under Tesla’s basic warranty, buyers can have added peace of mind.
As the Model S continues to depreciate, it becomes a more affordable option for a broader group of buyers, especially those looking for a high-end EV without paying top-dollar prices. Now might be the perfect time to experience the Tesla Model S—a vehicle that, even in the used market, still stands out for its advanced technology, thrilling performance, and luxury features.
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