Here’s how much a 2020 Tesla Model Y has depreciated after 5 years

In November 2020, the Tesla Model Y was the new kid on the block. It was the car everyone predicted would eat the automotive industry alive—and they were right. It eventually dethroned the Toyota Corolla to become the best-selling vehicle in the world.

But buying a Model Y in its freshman year (2020) was a gamble. You were beta-testing the production line. You were dealing with panel gaps you could stick a thumb into. And you were buying right before the market exploded, and then imploded.

Five years later, the Model Y is as common as a gray hoodie in San Francisco. With millions of them now on the road and a refresh (Project Juniper) changing the game, how has the original 2020 vintage held up?

Let’s crunch the numbers.

The question

We are looking at the definitive trim: the 2020 Tesla Model Y Long Range AWD. While a “Standard Range” version briefly flickered in and out of existence later, in November 2020, the Long Range was the volume seller that everyone actually bought.

At that specific moment in time (pricing fluctuated wildly in 2020), a Long Range AWD started at $49,990. If you wanted the Performance model (which lowered the suspension and upped the top speed), you were paying roughly $59,990.

So, if you dropped fifty grand on the future of the family SUV five years ago, what is it worth today?

The numbers

According to current market listings in late 2025:

• 2020 Tesla Model Y Long Range (New): $49,990
• 2020 Tesla Model Y Long Range (Used, 2025): ~$23,800
• Depreciation: ~$26,190
• Value Retained: ~48%
• Percent Lost: ~52%

The Model Y has held its value fractionally better than the sedan Model 3 (~49% vs ~51-52% loss is a tight race), but it is essentially a coin flip. Losing half your value in five years is standard industry behavior, but for Tesla owners who bought into the “appreciating asset” myth, this is a cold dose of reality.

How it compares

The Model Y is the benchmark, so everyone else is compared to it. But when we look at the rivals available (or soon to be available) in that era:

• Tesla Model 3: As noted, the sedan usually trades for about $4,000–$5,000 less than the Model Y on the used market. The SUV premium is real and enduring.
• Audi e-tron: The luxury German rival cost nearly $75k new in 2020. Today? You can find them for $25,000. The Audi lost nearly 65% of its value, making the Tesla look like a piggy bank by comparison.
• Toyota RAV4 Prime: The plug-in hybrid unicorn. Because they were so scarce and Toyota is… well, Toyota, these have retained nearly 60-65% of their value. In a twist of irony, the gas-hybrid held up better than the pure EV leader.

The “vertebrae” wildcard

There is a huge “Buyer Beware” asterisk for the 2020 Model Y specifically: the suspension.

The early 2020 and 2021 Model Ys are notorious for having a ride quality that can best be described as “punitive.” Tesla had not yet figured out the damping for the heavier SUV body, resulting in a car that crashed over potholes and jittered over expansion joints.

In late 2022 and 2023, Tesla significantly softened the suspension (the “Comfort Suspension” update). This devalues the 2020 models significantly. Educated buyers know to avoid the early VINs unless they enjoy visiting a chiropractor or unless the previous owner installed aftermarket coilovers.

The verdict

If you bought a 2020 Model Y new, you paid for the privilege of being first. You endured the harsh ride, the early build quality gremlins, and the rollercoaster of Elon’s pricing strategy. You lost roughly $26,000, which is about $430 a month in depreciation alone. Not terrible, but not miraculous.

But for the used buyer? Proceed with caution.

Yes, $23,800 for a dual-motor rocket ship that does 0-60 in 4.8 seconds and holds a family of five is an absurd bargain. It is pound-for-pound one of the best performance values on Earth. But make sure you test drive it on a bumpy road first. If your teeth stay in your head, buy it.

Depreciation Grade: C+ (Solid, but impacted by price cuts)
Used Value Grade: B+ (Great utility, harsh ride)