TMC is an independent, primarily volunteer organization that relies on ad revenue to cover its operating costs. Please consider whitelisting TMC on your ad blocker and becoming a Supporting Member. For more info: Support TMC

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

    Joined:
    Feb 11, 2016
    Messages:
    38
    Location:
    Jacksonville fl
    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.
     
    • Informative x 2
    • Helpful x 1
    • Like x 1
  2. Austin Powers

    Austin Powers Member

    Joined:
    Apr 5, 2016
    Messages:
    198
    Location:
    Austin, TX
    Good to know. Will give it a shot. Thanks!
     
  3. Wshowell

    Wshowell Member

    Joined:
    Jan 1, 2015
    Messages:
    399
    Location:
    Arroyo Grande Ca
    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

    Joined:
    May 22, 2014
    Messages:
    96
    Location:
    florida
    Good to know. Do you lose anything on taxes, not trading in with Tesla when getting new car?
     
  5. bro1999

    bro1999 Active Member

    Joined:
    Apr 26, 2016
    Messages:
    1,741
    Location:
    Maryland
    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

    Joined:
    Jun 20, 2016
    Messages:
    813
    Location:
    Dallas
    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

    Joined:
    Jun 14, 2016
    Messages:
    158
    Location:
    New England
    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.
     
    • Informative x 1
    • Like x 1
  8. Austin Powers

    Austin Powers Member

    Joined:
    Apr 5, 2016
    Messages:
    198
    Location:
    Austin, TX
    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

    Joined:
    Jun 20, 2016
    Messages:
    813
    Location:
    Dallas
    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

    Joined:
    Apr 5, 2016
    Messages:
    198
    Location:
    Austin, TX
    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.
     
    • Like x 1
  11. EternalChampion

    Joined:
    Oct 5, 2014
    Messages:
    126
    Location:
    Maui
    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

    Joined:
    Oct 20, 2014
    Messages:
    641
    Location:
    USA
    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.
     
    • Like x 1
  13. Ciaopec

    Ciaopec Reservations at Restaurant at Universe end

    Joined:
    May 3, 2016
    Messages:
    430
    Location:
    Close to where SpaceXploration begins: 32952
    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.
     
    • Funny x 1
  14. Plan B

    Plan B Active Member

    Joined:
    May 8, 2015
    Messages:
    3,706
    Location:
    EARTH
    You basically get wholesale offers from dealers.
     
  15. Austin Powers

    Austin Powers Member

    Joined:
    Apr 5, 2016
    Messages:
    198
    Location:
    Austin, TX
    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.
     

Share This Page

  • About Us

    Formed in 2006, Tesla Motors Club (TMC) was the first independent online Tesla community. Today it remains the largest and most dynamic community of Tesla enthusiasts. Learn more.
  • Do you value your experience at TMC? Consider becoming a Supporting Member of Tesla Motors Club. As a thank you for your contribution, you'll get nearly no ads in the Community and Groups sections. Additional perks are available depending on the level of contribution. Please visit the Account Upgrades page for more details.


    SUPPORT TMC