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CPO: Trade-ins, Financing...how's it work?

Discussion in 'Model S: Ordering, Production, Delivery' started by Buster1, Jun 4, 2017.

  1. Buster1

    Buster1 Member

    Joined:
    Oct 13, 2016
    Messages:
    267
    Location:
    Las Vegas
    1. Does Tesla accept my trade in car? If so, do they give near KBB value?

    2. Does Tesla do financing on CPOs, and if so, what's the rate? I can't find anything on the website.

    3. Can I pick up a CPO car from a distant location and save the delivery fee?

    4. Any other CPO good to know facts, experiences?

    Thank you for your time! Doin' my homework!
     
  2. Az_Rael

    Az_Rael Supporting Member

    Joined:
    Jan 26, 2016
    Messages:
    2,651
    Location:
    Palmdale, CA
    1. Does Tesla accept my trade in car? If so, do they give near KBB value?
    Yes, they do trade ins. You will most likely get a wholesale offer, or whatever Carmax will give you, which they will match.

    2. Does Tesla do financing on CPOs, and if so, what's the rate? I can't find anything on the website.

    Yes, but they act as a sort of broker vs financing themselves. You can apply through them and will be sent on to one of their vendors like Alliant or US Bank. Check the rates at your local credit union as well. Search the forums under alliant to see what rates folks have been getting lately.

    3. Can I pick up a CPO car from a distant location and save the delivery fee?

    Yes, lots of folks do that. Makes for a fun road trip home.

    4. Any other CPO good to know facts, experiences?

    Don't apply for financing until you get a delivery date. Same for your trade in. Credit offers are often only good for 30 days at the quoted rate and Tesla will only give you 500 miles leeway with your trade in at their quote. Odds are that won't be enough time to finalize delivery if you do it when you place the order. The process can be slow with lots of periods of no info on your car. You can request the inspection report for your car to see what work had to be done. Make sure you inspect and flag any bothersome cosmetic issues at delivery and get them on your due bill. That's your only chance to flag that stuff.
     
  3. Touch0fRed

    Touch0fRed Member

    Joined:
    Oct 21, 2016
    Messages:
    15
    Location:
    CT
    I'm going through this now, here's my take:

    1. Does Tesla accept my trade in car? If so, do they give near KBB value?

    Yes, they accept trade ins. However, I was given a very low valuation when compared to KBB.

    2. Does Tesla do financing on CPOs, and if so, what's the rate? I can't find anything on the website.

    As stated above, Tesla doesn't, but acts as a broker. I went through TechCU as they have a special program for Tesla financing. I got a better rate than what's stated on the site, just not sure if I can share broadly.
    Tesla Auto Financing - Tech CU
     
    • Like x 1
  4. mbhforum

    mbhforum Member

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    Long Island, NY
    Tesla also matches vroom.com offers in addition to Carmax.
     
  5. Buster1

    Buster1 Member

    Joined:
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    Location:
    Las Vegas
    Okay, thanks guys!

    Oh, one last question I forgot to ask. Do they honor a referral credit/code (I forget what it's called) from someone on a CPO?

    Thank you for your input.
     
  6. Ness

    Ness Member

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    May 20, 2017
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    Location:
    Campbell, CA
    My understanding is the referral codes are only good on new vehicles, not on CPO's.
     
  7. Touch0fRed

    Touch0fRed Member

    Joined:
    Oct 21, 2016
    Messages:
    15
    Location:
    CT
    Correct.

    You do get a referral code with a CPO.
     
  8. MorrisonHiker

    MorrisonHiker S 90D 2017.42

    Joined:
    Mar 8, 2015
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    3,510
    Location:
    Colorado
    You can easily search nearly 1200 CPO and 850 Inventory cars here for free: Tesla Inventory Search

    The referral codes will work on Inventory cars but not CPO cars.
     

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