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Used prices were already naturally falling because of increased used Tesla supply (tons have started coming off lease in the past few months) and somewhat decreased demand.
Tough to sell a used Model 3 for a high price right now when you can get a brand new, fully warrantied, better one for $37.5k. With either immediate delivery or very quick delivery.
Such a dramatically different market than 6-12 months ago, when a used one could command more than MSRP.
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