The race to produce a $25,000 electric vehicle (EV) in the U.S. has concluded, but not as expected. Hertz, a well-known car rental company, has been selling off a large portion of its Tesla fleet, totaling around 20,000 vehicles. This shift highlights a change in the EV market, with consumers in 2024 not adopting electric cars as quickly as anticipated.
Hertz will continue to offer Tesla rentals but their website indicates they are now offering the Ford Mustang Shelby. Despite a significant increase in EV sales from 2020 to 2023, which now make up over 9% of light-duty vehicle sales, the growth rate has slowed. Car manufacturers are now focusing more on hybrid models. However, the transition to EVs is still seen as inevitable due to lower prices, better battery technology, and the need to reduce carbon emissions.
For those interested in buying a used Tesla, now might be a good time to check out Hertz’s offerings. The company’s Hertz Car Sales division, which has been around since 1977, is selling these EVs at no-haggle prices.
These EVs are available nationwide and typically cost around $25,000. The vehicles undergo a 115-point inspection and come with a 12-month/12,000-mile limited powertrain warranty. Additionally, Hertz offers extended protection plans and a seven-day or 250-mile buy-back guarantee.
However, there are some downsides to consider. While the cars are relatively new, they have been rented frequently, meaning they might have higher mileage and more wear and tear. Prospective buyers can use online resources to research and even take virtual test drives before visiting a dealer for a physical test drive.
As of a recent check, Hertz had 1,475 used EVs listed as “Hertz Certified,” including 1,186 Teslas, 157 Volvos, 104 Mercedes, and 125 Chevrolet Bolts. These numbers change frequently, showing that these vehicles are in demand. The average price of used EVs has dropped significantly, with a recent study showing a 31.8% decline from last year. This has made used Teslas particularly affordable.
Tesla’s models are among the fastest-selling used EVs. They noted that the average price of these vehicles is significantly lower than new ones, which could attract more mainstream buyers. Experts suggest that buying a three-year-old EV, including Teslas, offers the best value for money.
Most of the Teslas being sold by Hertz are 2022 and 2023 Model 3 sedans. When new, these cars had a driving range of 270 miles for the base model and up to 350 miles for the long-range version. Hertz is selling these Teslas for prices between $21,000 and $36,000. Hertz also offers a Rent2Buy program, allowing customers to rent a car for up to three days and, if they decide to buy it, the rental charges are waived.
Each Tesla listed by Hertz includes details about the model and a history report from AutoCheck, which covers accidents, recalls, and repairs. However, it’s recommended to get a third-party inspection as not all incidents might be reported. You might want to hurry as the number of used Tesla’s from Hertz may drop in the future as they transition to their new “adrenaline” line up.
If you find the perfect car on Hertz’s website but it’s far from your location, Hertz offers delivery services starting at $225 for up to 75 miles, $350 for up to 200 miles, with longer distances negotiable. This could be a convenient option for buyers who find their ideal car in a different state.
