Trade in value

Trade in value

I ordered a Model Y but I was going to pull the trigger based on what I could get for my M3+. I checked the Tesla website to see what Tesla was selling used cars like mine for and the prices were about what I paid for mine. I checked Autotrader and Caravan and they also were listing for about what I paid new. I got my 2020 M3 plus last October. It has 2100 miles, FSD, Blue, Optional wheels, Floor mats, and 25% tinting on all windows except windshield ($350). The body is immaculate fit and finish. So I contacted Tesla to get a trade in quote. Below is the reply. I was shocked. Much less than 1/2 of what I paid. Can this be right? or should I call someone?

"2,020 Tesla MODEL_3
Standard Range Plus
2,136 miles
Net trade-in credit*

jimglas | 17/03/2020

so go with the best offer

Mtnrunner | 17/03/2020

Sell it privately. Tesla offered me low trade-ins on both of the cars I traded in, for the second trade-in for my X I sold private and did much better. BTW, that quote does look way low! You can use Carvana and other sites to sell more easily but with commissions. These are hot cars for resale, you'll do fine

Lariardo | 18/03/2020

Thanks for the info Mtnrunner. | 18/03/2020

In the past they also would match CarMax - so get a quote from them. Still, a private party sale will usually get you a lot more. Keep in mind the most depreciation occurs in the first year. Depending on where you are and tax rebates, they are often factored in. For example, if bought in CA, it may be assumed you took the $2000-4500 credit, no matter if you did or not, and the car value drops additionally by that much - since a new car may offer that credit.

Here's my list of additional sites that relate to selling a Tesla:

jordanrichard | 18/03/2020

So, are people expecting Tesla to give them more for a trade than if they were trading in a Ford to a Ford dealer?

It's as if the low balling on a trade in was a new Tesla unique thing.

Ross1 | 18/03/2020

Why would anyone buy a car now?

jimglas | 18/03/2020

for the right price I would
And for the right price I am going to buy another 100 shares of stock.

rob | 20/03/2020

How much would you expect to get in a private transaction?
I'm interested.

Yodrak. | 20/03/2020

"Why would anyone buy a car now?"

Because now is when they need one?

RichardKJ | 20/03/2020

I am in the middle trading in my 2018 LR RWD Model 3 with 18” wheels and FSD, blue/black, 14K miles on a Model Y Performance. Tesla offered me $41K which is in the middle of the KBB private party sale price range. I was pleased.

feyalex276 | 22/03/2020

We hope we do not get this issue when we buy a Tesla car, I sincerely hope your issue is resolved now at least. try and get in touch with your power line owner and maybe find a solution. Thanks !!

Uncle Paul | 23/03/2020

Why would Tesla pay you more for your used car than it would cost them to build a brand new one.

Makes sense that their offer would be less than for independent buyers.

Tesla tends to be remarkable at holding value on the open market. Better than most of their competitors.

Ross1 | 23/03/2020

^^^ what he said.
Tesla TSLA has to sell production cars too. Tradeins are nuisance value.
I am blown away at the prices Tesla is asking for inventory stock though.