What it is actually worth
A totaled Tesla is the most mispriced car on the road
Here is the thing that catches owners out. The same math that makes a Tesla easy to total also means the wreck still holds serious value, because the reason the repair was uneconomical is rarely that the expensive parts were destroyed.
A Model 3 or Model Y hit hard enough in the front or rear to cross the total loss line very often has an undamaged high-voltage pack and undamaged drive units. Those are the two most valuable assemblies in the vehicle. So are the screens, the seats, the closures, the suspension and the wiring.
A scrap-weight quote prices none of that. It prices the car as metal. On a modern EV that is not a conservative valuation, it is the wrong valuation, and the gap is usually measured in thousands.
The pattern is not specific to Teslas
We saw the same thing on a 2016 Hyundai Sonata here in Fremont. The scrap quote was $475. We paid $1,350. On a 2020 Toyota Highlander XLE that the owner had been told was finished, we paid $12,500.
On a late-model EV the spread between those two ways of pricing a car is wider still, because so much more of the value sits in components that weight-based pricing cannot see.
Figures above are from purchases we completed. Every vehicle is different and your offer depends on your car.