The hype is real (and overpriced): Used Tesla Model 3 hits Craigslist for $150K

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Whenever a highly anticipated product comes out, there are always those who try to take advantage of the hype. Did you grab the last Xbox One on Black Friday? Keep the box sealed and resell it for a huge profit. Got your hands on some of that Rick and Morty Szechuan sauce from McDonald’s? Dip some nuggets in some of it and hand the rest out for $10 a piece. This cycle applies to almost every retail industry out there, and the automotive community — especially the one surrounding the Tesla Model 3– is no different.

The first used Model 3 has officially hit the Craigslist market in Santa Cruz, California, and the seller is asking a whopping $150,000 for it. It’s described as “lightly used,” with just over 2,000 miles on the odometer. The vehicle is fully loaded with a 310-mile long-range battery, panoramic glass roof, premium interior, upgraded sound system, and Aero wheels, but that’s more than four times the car’s initial cost. It seems a bit much, but given the circumstances around the vehicle’s production, this Model 3 will surely be picked up before you can say “adaptive cruise control.”

Tesla originally predicted approximately 1,500 Model 3s would be assembled in September, with another 20,000 hitting the streets by December. As of this writing, however, the brand has only completed about 260 examples due to bottlenecks in production. The Wall Street Journal recently reported many of the Model 3’s parts have been built by hand due to the assembly line not being ready, and these are the exact types of delays that drive owners to break into the used market for huge gains.

The seller wrote that a “unique circumstance” inspired the quick sale, noting, “This car meets all of the hype and I plan on owning another in the future.” Given that the first Model 3s were held for very early reservation holders, it’s likely the ad was posted by a Tesla employee.

Either way, if you want to skip the wait and get your hands on a “new” Model 3, this is your chance. Be advised that the $7,500 electric vehicle federal tax credit doesn’t apply because the car has already been registered. But if you’re willing to plunk down $150,000 for a $35,000 ride, we’re willing to bet you won’t mind.