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Can you change your mind on trade?

Dan203

Active Member
Jul 10, 2019
1,429
1,033
Northern Nevada
I got a quote from Tesla for my car that seemed a bit low so I marked "no trade" on my order page and figured that I'd just sell it to Carmax instead. But now I'm seeing people report that if you go to Carmax that Tesla will match the price. Doing a real trade in has some tax benefits so I'd rather just give it to Tesla if they're going to match Carmax anyway. But I don't see any way to change the trade stuff on my order. Is it possible to change your mind and do a trade after you already said you weren't going to do a trade?
 

Dan203

Active Member
Jul 10, 2019
1,429
1,033
Northern Nevada
Never mind. I can't really do a trade anyway. I'm leasing the Tesla and my current car has over $20k in equity, which is way more than the lease down payment. If I traded it in then it would just reduce the lease payment, not actually get me any cash back like Carmax would. I'd rather have the cash than the lower payment.
 
Never mind. I can't really do a trade anyway. I'm leasing the Tesla and my current car has over $20k in equity, which is way more than the lease down payment. If I traded it in then it would just reduce the lease payment, not actually get me any cash back like Carmax would. I'd rather have the cash than the lower payment.

You could still trade the car in to Tesla and direct them to apply a certain portion to the lease down payment and write you a check for the difference. But it sounds like the main advantage to you was to only pay sales tax on the net amount, which doesn’t really apply when you are leasing the car. If you were purchasing the car (or financing it) and Tesla would match the Carmax price you could effectively pay sales tax on only the net amount.
 

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