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Auto trader guarantee trade in/sale vs carmax vs tesla

Discussion in 'Model S: Ordering, Production, Delivery' started by hankinjax, Jul 22, 2016.

  1. hankinjax

    hankinjax Member

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    I sold my 2013 Model S to get ready to take delivery for new Model S. I used the auto trader guarantee at my local Toyota dealer. Went incredibly smooth and was paid $8000 for than what Carmax offered and $6000 more than Tesla offered. I thought for sure it was going to be a scam to get me into dealer but it was not.
     
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  2. Austin Powers

    Austin Powers Member

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    Good to know. Will give it a shot. Thanks!
     
  3. Wshowell

    Wshowell Member

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    These are relative values. Can you also,provide the actual values please? If Tesla offered you $20K for your Model S.....well, you get it. Thanks for sharing.
     
  4. m2s2

    m2s2 Member

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    Good to know. Do you lose anything on taxes, not trading in with Tesla when getting new car?
     
  5. bro1999

    bro1999 Member

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    In MD, you get a tax credit towards your new car, based on the trade-in value of the car you are turning in. This only applies if you trade in your car to the same dealer you are buying a new car.

    So if you buy a $10k car, and your trade-in amount is $10k, your new car is effectively tax free.
     
  6. Cnasty

    Cnasty Member

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    I heard it is better to trade in directly with Tesla in Texas for a major tax reduction.

    I plan to do that but also have an appraisal from CarMax and a local dealer in my back pocket if the Tesla appraisal is way off.
     
  7. CapeOne

    CapeOne Member

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    Many (most?) states deduct trade value from purchase price before calculating sales tax e.g. if you are buying an $80K car and have no trade the sales tax is on the full $80K but if you are buying an $80K car and have a $20K trade the sales tax is based on $60K ($80K-$20K).

    If sales tax is 7%, the tax savings with trade would be $1,400. In this example, as long as one is getting over $1,400 more selling to another dealer or privately it would be worth it at least from a financial standpoint.
     
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  8. Austin Powers

    Austin Powers Member

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    Cnasty,

    If private party sales price < trade-in + sales tax savings, then definitely trade-in. I plan to put mine up on craigslist to see if there is any interest between now and delivery date. Worst-case, will trade-in with Tesla, just for the sake of convenience. Don't forget to get a quote from carmax for Tesla to match.
     
  9. Cnasty

    Cnasty Member

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    Thanks!

    Not sure if I have the knowledge and patience to do a private sale so tesla or a instant offer from Kelly blue book will probably be my best bet. Tried Carmax and felt super low on the offer.
     
  10. Austin Powers

    Austin Powers Member

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    I put up my beat up Murano on Craigslist and I'm flooded with offers (yet to see how many are legit). I listed it about 2k more than what Tesla was offering. Will come out with way more cash than sales tax savings via a trade-in. Most likely going the private sale route now.

    You should definitely give it a try! Title transfer is a simple 20 minute thing at the county clerk's office.
     
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  11. EternalChampion

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    I've sold two vehicles with the AutoTrader guarantee in the last year. The first transaction was perfect, took in a Ford Raptor and received only slightly less than I paid for the vehicle (which was 4 years old with 22k miles), the second transaction was complete crap. The dealership thought my BMW was a "specialty" vehicle and low-balled my Autotrader offer which caused me to walk. Ultimately, Tesla gave me the same deal on a trade-in for my Model X.

    I think that if you're selling common vehicles, the Autotrader guarantee seemed to work well, although you will receive a little less than you'd get in the private market. The convenience was totally worth it to me...at least for the first vehicle.
     
  12. Kandiru

    Kandiru Member

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    Piece of advice, if your income is anything above 30k, never allow the flea market gang visit your home. You could be in for terrible surprises later.
     
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  13. Ciaopec

    Ciaopec Member

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    Hi! Just crawled out from under a rock and your post was the first thing I saw. What is the "auto trader guarantee"? Thanks. I'll await a response in the deep shade of my Precambrian abode.
     
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  14. DougH

    DougH Active Member

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    You basically get wholesale offers from dealers.
     
  15. Austin Powers

    Austin Powers Member

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    A private sale on Craigslist is not a bad idea either. Just make sure you show the car at a public place and not invite people over to your house.
     

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