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Does Tesla accept traditional trade-ins?

Discussion in 'Model 3' started by PTADO, Apr 7, 2016.

  1. PTADO

    PTADO Member

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    Couldn't find anything on this in the forum search.

    In general, do they operate where you can trade-in your existing vehicle or is it recommended to sell off your car first then come in with the liquidity?

    Thanks in advance for any insight or suggestions, or a link to a past thread where this may have been covered.
     
  2. brkpnt

    brkpnt New Member

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    I have no idea if they take trades in, but in general, you will get more $ selling privately. Yes, it can be a hassle and take a bit of time, but I've never had any trouble unloading my old cars on craigslist.
     
  3. diamond.g

    diamond.g Member

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    Yeah they take trades, but I hear they low ball prices. Probably better to sell privately, or through CarMax (or whatever it is called in your area).
     
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  4. Az_Rael

    Az_Rael Active Member

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    I believe they do. However, the offer you get might not be the greatest since they just wholesale them for auction.

    Probably a good idea to get your car appraised at a Carmax or something as well.


    Here is the official policy:

    Trade ins
     
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  5. Branzo90D

    Branzo90D Salt and Pepper

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    My experience is that CarMax is fair and quick. They will generally offer more than a traditional dealer will. You may get more selling it privately, but, I have found it is not worth the effort and cost vs. just selling to CarMax.
     
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  6. Bruin1996

    Bruin1996 Member

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    I just sold my 2006 Acura TL before taking delivery of a model S just a few weeks ago. The Tesla/Autonation price was actually higher than Carmax's offer but I got an even better price from my local Acura dealer. I did not want to deal with the hassle of private sales. If you don't plan to seek your car privately, I would recommend getting your car appraised by Tesla, Carmax, and the local dealer for your car brand and take the highest.
     
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  7. Justicepool

    Justicepool Member

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    Yes, I traded in an 2015 Audi Q5 TDI on my Tesla.
     
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  8. Jason Bourne

    Jason Bourne Member

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    #8 Jason Bourne, Apr 7, 2016
    Last edited: Apr 7, 2016
    A few other considerations to keep in mind. At least in PA, whether you trade your car in at the time of your new car purchase affects how much sales tax you pay for your new car. For example, if the Model 3 I buy is for $40,000 with no trade in, I pay sales tax on $40,000. If I buy a Model 3 for $40,000 but I trade in my current vehicle for $13,000, then I pay sales tax on $27,000 (sales price minus trade in value = amount on which sales tax is paid). So in this example, trading in my car saves me $780.00 ($13,000 x 6% sales tax). So you have to consider if you can get more than $13,780 for your trade in elsewhere.

    Another consideration is to whom you would sell it privately. Most people shopping for a car in the price range of less than $7500 will pay cash. Many people buying cars over $10,000 take a loan. That could affect the transaction in terms of speed and ease.

    What also might affect the transaction more is if YOU have a loan on the car. If you do, the buyer would have to give you the $13,000 and wait for you to pay off the loan and receive the title in the mail before you can transfer the title to them so they could title the car and drive it. Often buyers aren't willing to trust a seller through those steps.

    Not to mention the time, effort and any costs associated with a private sale.

    I've sold cars both ways. For me, I'd rather sell my car to the dealer for a fair price (even if it's not top dollar) just for the convenience factor.
     
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  9. Boourns

    Boourns Member

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    At least in Dallas, I have had higher offers from some of those internet dealers that evaluate pictures of your car and send you an offer. One called Vroom, in particular, was about $1500 higher on an offer for my Mazda3 than CarMax. But there are lots of others.
     
  10. ModelZ

    ModelZ Member

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    I found that Tesla quotes you about the same as most dealers will and it's typically the Wholesale price (re: low end of the KBB spectrum).

    I haven't tried with Carmax yet, but I should be getting ~$29-32k for my 2015 Jeep Cherokee Trailhawk. Tesla offered me $24k.
     
  11. Don B.

    Don B. Member

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    I want to sell my car outright but need a date on delivery.
     

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