Trade in Value

Trade in Value

Anybody have any feedback on Tesla trade ins.
I never expect to get what its worth but Tesla has offered me a ridiculously low amount.
$20K when they are selling similar cars on their site for $40K

Doesn't even seem like a fair amount.
Online sites list it at $30k trade in value.
Problem with this automatic stuff is you can't find a real human to find out where the mistake is.

Just curious if anyone else has seen this.

Frustrating getting penalized for being an early adopter.

Mattski30 | 10. Dezember 2019

I think they offer a full warranty for their used cars, so that explains some of the difference, but still seems like a huge markup. What are you trading in and fo you want?

damianku | 10. Dezember 2019

several online sites set the trade in value at around $30k so that is what i expected them to be around +or-
Battery and drive train have been replaced already under warranty so they should be good there.

Uncle Paul | 10. Dezember 2019

Tesla will usually have the lowest trade in values, but offer the greatest convenience. Simply drive your old Tesla in and drive out with a new one. Just pay the difference. In some areas you can save some taxes and fees this way.

3rd party wholesalers will often beat Tesla's price, but you need to deal with two different transactions at two different times.

Selling by yourself to the retail market usually gets you the highest offer, but takes time, risk and hassle.

It is not a Tesla thing, but a used car of any manufacture thing.

PrescottRichard | 10. Dezember 2019

Also worth mentioning- in some states you pay tax on the total of the new car and in some you only pay on the difference between your trade in and the total. Sounds like that difference is unlikely to be enough to cover 10k difference you’re seeing if that is how it works where you are. Still, good to keep in mind.

Of course Tesla are selling cars more than they will pay for your trade in, that’s how businesses stay in business. Not only that but chances are they’ll warranty your car to some extent to the next owner as was mentioned.

vswendsen | 10. Dezember 2019

I traded in my 2019 M3 LR DM with 15K miles and got $34,400.00 from Tesla. Carmax offered $35K. I thought I would get more than that but didn't what to go through a private sale. But I really wanted the Performance model and in the end it was worth it. No regrets.

SO | 11. Dezember 2019

And if you don’t want to trade in, try

damianku | 12. Dezember 2019

@SO Thanks for the site. Didn't know it. Site does confirm value of $30K plus however. I understand the profit motive but this is still not a reasonable offer.

damianku | 18. Dezember 2019

Screwing your early customers seems like a bad practice in any case

lavin.karnell | 31. Dezember 2019
rmj | 31. Dezember 2019

will tesla take my model 3 in trade for a model Y?

andy.connor.e | 31. Dezember 2019

Probably. But you're always better off trying to sell it yourself before you accept a trade-in. Trade in values are always lower than the sale value.

BadgerErickson | 31. Dezember 2019

Here is a guide from the Tesla Support pages, about Trade-Ins. Have you looked there?

Where are you and how much would you like to ask for your car?

Darryl | 01. Januar 2020

First I have owned three new Teslas. I was going to trade my Jaguar in until I found they only provide the wholesale value of the car. I was able to sell it to a private party for $12k more than what Tesla would give me. If you are trading a low value car it is probably worth just to trade it in but not for a newer luxury car.

It is even worse for trading in a Tesla. If the car is less than two years old they will only give you 80% of what you originally paid and then they reduce it by $1 per mile for a MS/MX and 50 cents per mile if you are trading a M3.

Therefore if you have a two year old MX P100D which you paid $150 for with $25k miles you would be lucky to get $95k. Again best to try to sell it yourself to a third party. | 01. Januar 2020

One reason Tesla may seem low compared with dealer trade-ins is the new car price is fixed. The dealer will adjust the sales price to make the trade-in look better. With round numbers: Buy a $50K car at the dealer and get $20K for the trade-in. Negotiate a better deal on the new car - $45K, and you'll like to get $15K for the trade-in. Tesla and dealers are mostly pushing that car off to the wholesale market. A relatively few remain with the dealer or Tesla.

As others pointed out, the private sale should net you the most. Use to get a sense of the trade-in vs private sale value. I sold my last S, by putting a 12'x 8" sign in the window and parked out front of my house. Sold in 24 hours to a nearby resident.

Here's a list I compiled of other places to consider selling your car:

Bill.woolf316 | 22. Januar 2020

I'm just going to pay cash... and give my trade in (2015 Lexus RX450h w/48k miles) to my son... they offered less than 15k. Online runs about $27k. Of course, he will probably sell it for beer money :)

Cybertruckee | 23. Januar 2020

Tesla is like Toyota Certified. They'll invest on their buy-back, they make some refurbishings and provide warranties to the buyer.

ginafg | 24. Januar 2020

it is very interesting

avesraggiana | 24. Januar 2020

I haven't sold a Tesla yet, but when I do, I'll use the same website that I used to sell my last ICE, a Honda Odyssey Elite minivan, about a year old with only 15,000 miles - paid the best. Better than Tesla Trade-In, CARMAX and one other internet site whose name I no longer remember.

sleeper service | 24. Januar 2020

When I bought my Model 3 the trade-in value for my Toyota Hybrid came straight from the Kelly Blue Book with no allowances for low mileage, etc.

Tesla2018 | 24. Januar 2020

They sent me to CarMax when I asked about trading in my old car when I bought my model 3. They offered me $150 for it since it was 18 years old and had a manual transmission. I sold it to a guy for $700 and he never registered it and got busted for having drugs. Cops thought I still owned the car and the impound lot wanted to charge me storage fees. Sometimes it's better not selling to people you don't know.

rxlawdude | 25. Januar 2020

@Tesla2018, if you are in California, you should have sent a form to DMV on the date of sale. That releases you from any liability.

I had a similar situation (even after proper DMV notice) where I got a red light automated ticket a couple of months after I sold the vehicle. A letter to the court solved that.

Bob.Calvo | 25. Januar 2020

Carvana offered me 10% more than Tesla did. You would think that it would be in Tesla’s best interest to be a bit more competitive when the the trade in is a Tesla since you’re a repeat customer and have likely been spreading the word on how great the cars are to anyone that asks. They get a new car sale and they can better ensure that the used Tesla market continues to broaden sales at lower price points while providing a CPO Warranty after a thorough service. Trade ins and resales help to retain loyal customers by making the upgrade more effortless and as has been mentioned, there are often significant sales tax advantages when applying the trade in directly to the new purchase.