Advice needed: Model Y Trade-In/Sale

[JonBon83]

Hi I have been an avid reader of the content on this forum and here is my first post.

The situation is I work for a startup in tech and its being sold and most probably majority of us will be laid off. Keeping that in mind plus the cost of living in Toronto I was thinking of selling/trading in my Model Y 2023, which I bought in around April this year. Question is what's the best deal I could get? I put down around 22K for it. I actually love my car and am sad even thinking of parting with it but want to see what my options are before *sugar* hits the fan (I might survive the lay offs but can't tell till it happens).
I just want to go without a car for a few months till I can land a stable job. Oh and the car is financed. Any advice will be highly appreciated

 

[jcanoe]

You could rent out your Tesla Model Y on Turo to help offset the monthly payment.

 

[ghuie32]

You could rent out your Tesla Model Y on Turo to help offset the monthly payment.

Could be a nightmare of an issue when it comes do damages. Parts can take up to a few months to get and that becomes lost revenue when the tesla sitting at the shop for repairs. Trust me, I looked into and it wasnt worth the headache.

 

[ghuie32]

Hi I have been an avid reader of the content on this forum and here is my first post.

The situation is I work for a startup in tech and its being sold and most probably majority of us will be laid off. Keeping that in mind plus the cost of living in Toronto I was thinking of selling/trading in my Model Y 2023, which I bought in around April this year. Question is what's the best deal I could get? I put down around 22K for it. I actually love my car and am sad even thinking of parting with it but want to see what my options are before *sugar* hits the fan (I might survive the lay offs but can't tell till it happens).
I just want to go without a car for a few months till I can land a stable job. Oh and the car is financed. Any advice will be highly appreciated

Your best deal is shopping around on who is willing to give you the best CAD for it. I would search a few websites and see how much the value of your trade in would be, Visit used car selling websites and see what they retail for. Just remember, the dealer is looking to make money so don't expect you are going to get the value what they retail for in the use car market. You can sell it privately in the meantime, where you can still drive the car around until you find a buyer. There is always an sss for every seat! Good Luck!

 

[nate704]

Based on my Hertz Tesla rentals, your car will be trashed in less than a month on Turo.

 

[mark02115]

sorry man --- hope they cut you a big severance check

 

[jjrandorin]

Hi I have been an avid reader of the content on this forum and here is my first post.

The situation is I work for a startup in tech and its being sold and most probably majority of us will be laid off. Keeping that in mind plus the cost of living in Toronto I was thinking of selling/trading in my Model Y 2023, which I bought in around April this year. Question is what's the best deal I could get? I put down around 22K for it. I actually love my car and am sad even thinking of parting with it but want to see what my options are before *sugar* hits the fan (I might survive the lay offs but can't tell till it happens).
I just want to go without a car for a few months till I can land a stable job. Oh and the car is financed. Any advice will be highly appreciated

First, these threads usually turn into "soft for sale advertisements" and TMC does not allow for sale advertisements anyplace but the marketplace.

"Whats the best deal you can get" can be determined by shopping it around at all the websites in your area that purchase cars. I dont know if carmax or carvana operates in Canada, but something like it does. You can look at auto trader, etc and see what cars are being offered for there.

Please do not do anything that looks like for sale activity, like "here are pics of my car", "I am thinking about XXX" "PM me for details" or anything like that. Thanks.

 

[Watts_Up]

the cost of living in Toronto I was thinking of selling/trading in my Model Y 2023,

I feel bad for you, but I hope that everything will work out later on for you.

If you get between jobs, this could be the occasion to learn news skills.
I would recommend the ADPList (Amazing Design People List) which is free and let you study with a Mentor.

I don't know how much you have to pay for your car every month, and also the cost of renting an apartment in Toronto.
But I imagine that looking for a new job without a car might be difficult, unless there is good transportation in your area.

It would be sad to let go your Tesla, because this car is basically maintenace free compared to an ICE car.
Also because of the HVAC running on the battery, you can stay inside your car to look at your e-mails for example,
instead to have to go to a coffee shop when you are away from your home.

I wonder if you could consider camping in your car for the rest of the summer, so you will not have to pay any rent,
And use you gym to take showers. So you could put all your belongings in a storage, and keep with you only the minimum with you.
And eventually find a student room in a house or look for roomates for the winter.

Maybe you could do some doordash deliveries or uber transportations to pay for your car monthly payments.

 

[DanDi58]

The best deals tend to be from sites like Carvana, Vroom, Driveway, etc, but I'm not sure if they operate in Canada. Unfortunately, this isn't a very good time to sell a car as values are relatively low atm. At least in the US. Just shop around for the best deal.