'Worst Financial Decision': Woman Regrets Buying This Model Of Elon Musk's Tesla

A Tesla owner has narrated her ordeal in a TikTok post, calling the move to buy the electric car her ‘worst financial decision’. The TikTok user has gone viral after saying that she regrets splurging on the electric car. The woman, identified as Nejra, said in a video that she bought a brand-new Tesla Model Y in 2023. While she did not disclose the exact amount she paid, Car and Driver lists the 2023 Model Y between $40,000 and $50,000, suggesting her purchase fell within that bracket.

Two years on, she isn’t mincing her words. In a clip, she said buying the car was “absolutely the worst financial decision I ever made in my life,” reported Inside EVs, a news website on EVs and hybrid vehicles.

Filming from inside the vehicle, she reflected on her purchase and the depreciation that followed. “The value of Teslas and other electric vehicles has since been in the dumpster. Actually, below the dumpster,” she said.

According to Inside EVs, Nejra explained that the financial loss has been the hardest part to swallow. Not only did she carry over negative equity from her previous car loan, but she now finds herself paying more in monthly instalments than the car is actually worth.

She added that for the amount she spends, she could be driving a far more desirable vehicle. “You don’t even want to know the kind of car I could be driving,” she said, before advising potential buyers to consider either leasing a Tesla or opting for a second-hand model instead.

Yet it wasn’t all criticism. Nejra admitted there were features she “genuinely loved” about the Model Y. Among them was the fact that she never needed to visit a petrol station due to her home charging setup. She also mentioned side cameras, which made lane changes easy.

In terms of performance, she said the Model Y’s acceleration was remarkable, stating that it went from “zero to 60 in three seconds flat.”

Overall, she described her Tesla ownership as a “love/hate relationship.”

Data from Kelley Blue Book, an American vehicle valuation platform, reveals the financial reality behind owning a 2024 Tesla Model Y Standard. Over a five-year period, the total cost of ownership is projected at $69,235. This includes a hefty depreciation of $32,580, leaving the vehicle with a residual value of just $12,050 after five years. In addition, owners are expected to spend about $36,655 on out-of-pocket costs such as insurance, maintenance, taxes and charging.

In simple terms, while Tesla cars have been marketed as futuristic and cost-efficient, the numbers suggest that ownership costs are climbing, and resale value is slipping.

The troubles don’t stop there. According to a Reuters report, Tesla’s sales slump deepened across Europe in August 2025, with registrations plunging 47.3% in France, 84% in Sweden, 50% in the Netherlands and 42% in Denmark, even as the overall car market grew. The company’s limited lineup has left it vulnerable to a wave of new competition from China’s BYD and traditional automakers.