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Trade-in values given from Tesla

Trade-in values given from Tesla

What are people's experiences in using Tesla's trade-in on the model 3? Third party doing it, so not sure of any incentive to give you a great price. With Tesla fixed price structure just not sure how this will all go down. Better to just take to CarMax? Any other thoughts? Kbb? Obviously I don't want the hassle of selling on my own but don't want to get screwed either. Let me know your thoughts.

Mehrdad | 10. toukokuu 2018

I’ve heard third parties low-ball, and there’s zero room for negotiation. I’ve placed ads on craigslist, private party seems the way to go to avoid being screwed.

percylee76 | 10. toukokuu 2018

Tesla will match Carmax. Get both - and if Carmax is higher, send it to your sales rep, and they will match it. That is what I did. You get more if you sell it privately of course, but trading in to Tesla has no hassle.

jmorace1 | 10. toukokuu 2018

I wish I had the patiences and trust to sell to a third-party for anything less than cash. We live in Florida so losts of hustling going on here unfortunately lol. o assumed that third-party low balled. If they match CarMax why not just sell to CarMax heared it was easy and was what it was.

eplaskett | 10. toukokuu 2018

@jmorace1:

If Tesla or their agent will match CarMax, then you're definitely better off trading your car in. Trading a car in reduces your purchase price, meaning that you pay less in sales tax. (On a $6000 trade, for instance, in a location with 6% sales tax, that translates to $360 back in your pocket.) That's the law in Georgia, anyways, and also in Florida, where I am originally from and where my Dad is buying his Model 3 within the next week or so.

johnmann | 10. toukokuu 2018

Tesla appraised my 2011 Leaf at $4,700. I took it to CarMax and they valued it at $6,500. I emailed this information to Tesla and they matched the CarMax offer.

jmorace1 | 10. toukokuu 2018

Oh didn't think of that at all. Thanks @eplaskett !

jlvota | 10. toukokuu 2018

Tesla will not match Carmax. Tesla offer was 8,500 and I ended up selling to carmax for $24k.

joe | 10. toukokuu 2018

Tesla offered me $4,400 for my 2009 Honda Element. Sold it on Craigslist in a week for $10,000. They offered $2,200 for my wife's ancient Mercedes C230; I sold it on Craigslist in 3 days for $4,500. Speaks for itself...

finman100 | 11. toukokuu 2018

do you have to have a j in your user name to post in this thread? just noticing silly things this AM (left coast).

TeslaTap.com | 11. toukokuu 2018

My understanding is Tesla just sells the used cars to a wholesaler. You should get a better deal with a private sale, but then you have the hassle of selling it, allowing joy rides and hopping the payment is real and not some scam. Use kbb.com to see the "dealer" price and private party price. Tesla will likely be in the dealer trade in price range. I've always sold my used cars via private party, but I sort of hate doing it too. Lucky, I've never been scammed.

A dealer will often give a higher trade in price when buying a new car by playing with the new car price. New car for $50K may yield a trade in at $15K. If you bargain for a better new car price, perhaps for $45K, suddenly the trade in is only $10K. A bit of a scam, and another reason people hate dealers.

slasher0016 | 11. toukokuu 2018

I got $21,100 from Tesla, CarMax offered $20,500. I was hoping to get at least $20,000. So I was pretty happy with the 3rd party appraisers. Bluebook trade in was 19-22.

mgeo | 11. joulukuu 2019

We got an appraisal from Tesla of 19200.00 on our trade in. So we got financing on the amount left to buy car. The night before we were to pick up the car they called and wanted the mileage on our vehicle and said our appraisal expired and they had to reappraise it. When we checked on the appraisal it was 6000.00 less than the original offer!!! This was over a 4 week span. Now I'm supposed to take our vehicle to CarMax to see if I can come up with a better appraisal! Seems shady to me!!!

Rikki-Tikki-Tavi | 11. joulukuu 2019

Waited month to get the car and they honored appraisal. CarMax gave almost 3k less.

AWDTesla | 11. joulukuu 2019

I got 2.5k more for my Subaru selling privately than what the dealer wanted to give me. Selling privately is the way to go if you can swing it.

FISHEV | 11. joulukuu 2019

"I got 2.5k more for my Subaru selling privately than what the dealer wanted to give me. Selling privately is the way to go if you can swing it."

Same for me. You can see price differential on Kelly Blue Book, kbb.com. It's usually the case that private sale gets substantially more money. For consummating online transactions, at the buyers bank is a good place. Parking lot will be safe and bank will do the cash payment via a cashier's check. If bank is lending, they'll also do the title transfer. If its a cash deal, a lot of police departments are setup so people can do the transactions in police parking lot with cams.

FISHEV | 11. joulukuu 2019

I thought the thread was about Tesla price on trading in a Model 3. M3's look to have a high resale value.

AWDTesla | 11. joulukuu 2019

Yes, I always meet at the bank. Last sale, guy showed up with 13.5k in cash but i still insisted we go to the bank together to deposit it.

"But its cash..."

Dont care, fraudsters are creative.

WantMY | 11. joulukuu 2019

If your used ICE car is below $10K you should sell it yourself. Craiglist is your friend!

miguelcampeau | 11. joulukuu 2019

I had the best experience with my Subaru WRX 2012 trade-in.
I expected that Tesla's offer would be lower than competitors so i had my car evaluated by 2 other firms. Turns out that my Subaru Dealer offered the least, $12000, H Gregoire (similar to CarMax in Canada) offered $15500 and Tesla offered $17200. With the tax deduction from the Model 3 transaction, this turns out to be $19800, not bad!
I figure that selling privately, i would have sold around $17500. (prices are in Canadian dollars)
Tesla never evaluated the car in person, i just did the evaluation online by sending 3 photos and a filled-in the self evaluation form.
I just gave them the keys on the day i picked-up my Model 3!
This was from the Tesla SC in Montreal.

Scrannel | 11. joulukuu 2019

I did most of work on line -- sending in some photos along with mileage. Appraisal was very reasonable. Just before I was set to pick up car, Tesla did a reappraisal and actually allowed me more for my trade-in than originally set. OP's issues was, Tesla forgot to ask for mileage or that somehow got lost in the transaction.

bjrosen | 11. joulukuu 2019

eplaskett@ Trading in a car does not reduce your sales tax, the sales tax is based on the price of the new car. The value you receive for your used car is just another form of compensation to the new car seller, it's no different that cash.

Rikki-Tikki-Tavi | 11. joulukuu 2019

@bjrosen
It does in GA

jimglas | 11. joulukuu 2019

It does in CO
Sales tax on New vehicle - trade in

rdh37 | 11. joulukuu 2019

I was very pleased with the trade in offer I got from Tesla in Feb. 19 for my Hyundai. It was about 1.5k more than the KBB fair market value for my car. Yes, the car should have been priced at "fair" as it had body damage (relatively minor). It was actually priced as "good." In my view, a very generous offer. Between that, the tax break, the MD rebate, I got a great car for a reasonable price. Very happy every day when I get to drive it though less traffic and more high speed driving would be nice. Have a nice day.

Mr. Spacely | 11. joulukuu 2019

@bjrosen
It does in Florida

bjrosen | 11. joulukuu 2019

To those of you who say that your states don't tax the portion of the sales price covered by trade in value, are you sure? that doesn't make any sense to me. The trade in is just a barter payment, barter and cash are usually treated the same in tax law, certainly if you receive barter income the IRS would treat it the same as cash. In MA the registration fee is the sales tax on the sticker price of a new car, trade ins and incentives are ignored. If a state does forgive the barter value of the used car then that's a testament to the power of dealer's associations.

jimglas | 11. joulukuu 2019

for CO, positive for sales tax.
Still have to pay "list" for registration

raqball | 11. joulukuu 2019

bjrosen | December 11, 2019
To those of you who say that your states don't tax the portion of the sales price covered by trade in value, are you sure?
---------------
I'm positive.

I paid sales tax on the price after trade. Let's say the car you are buying in 50K a d the car you trade in is 20K. You'd pay sales tax on 30K.

Well that's how it works in WA State at least.

Tesla was like 2K less on my trade than CarMax. Uploaded the CarMax quote a d they matched it. Very easy process.

Rikki-Tikki-Tavi | 11. joulukuu 2019

raqball, Same thing in GA. Sale price - trade and you pay tax on the price after trade.

mcmack15 | 11. joulukuu 2019

Also true in MA. Sales price less the trade-in value equals the amount on which the sales tax applies. Excise tax and registrations fees are another matter. Again to be clear, the sales tax is NOT computed on the sticker price or sales price when a trade-in is involved in Massachusetts. Not sure, but maybe they figure the sales tax was already paid on the trade-in value amount when that car was initially purchased.

jebinc | 11. joulukuu 2019

True in WA state as well. Sales tax is on the net amount.

Switchmon | 11. joulukuu 2019

I got a quote for my trade-in from Tesla and I got an independent quote from my local Carmax. The Carmax quote was $3,000 more than what I was going to get from Tesla and I showed that to Tesla when I was going to finance the purchase. Tesla honored the higher quote without a hitch.