How accurate have the Tesla trade-in values been? I don’t overly feel comfortable giving a non-refundable $250 and feel as if I’m being strong armed.
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Tam
Well-Known Member
Some thinks that you would get better price if you sell to others like private or commercial brands.
If you do choose Tesla, the quoted price could change so it could be interpreted as bait and switch.
The advantage to go with Tesla is: less hassle.
I’ll tell you why I’m asking. I recently traded my MYP for a Bolt EUV. At the time it made financial sense. I loath this car. So I asked Tesla for a trade in estimate before I lose $6k doing it. I’m good with the estimated trade in value and I could probably get a MYP soon. But Im really not going to play games because the MYP is mildly hot and you have $250 of my money.
Do you think it makes a difference when you submit trade in info? Before or after Vin is assigned? I remember reading that trade in values that Tesla offers is good for 30 days or 1000 miles.
Noob here! Been lurking around for a few years and just decided it was time to have a Tesla. I have a 2 year old Porsche Taycan with a current market value of $125-130K. I submitted a trade valuation thru the Tesla website and was quoted $110-120K. I went ahead and initiated a purchase for a Model s Plaid for $147k and was quoted $116.5K for the trade, making it a wash against selling it for $125k. I put down my $250 deposit and made the "deal".
Today Tesla comes back and says $99K is the actual offer.
Goodbye $250. And goodbye Tesla.
Grumpy here.
Today Tesla comes back and says $99K is the actual offer.
Goodbye $250. And goodbye Tesla.
Grumpy here.
It’s deceptive. I lost two deposits this year. One to my dad’s health deteriorating. They didn’t care. And one to my trade value going from $34k to $29, and in addition removing USS, old cameras, and Perrelli tires (not good in snow). They don’t care, for now. But I did pick up a preowned ‘22 with Michelins for about $7k less and got a $34k trade value. The date changing months at a time wasn’t favorable either.
Eventually, someone is going to sue them for deceptive business practices. $250 non-refundable deposit and you don’t even know what kind of options you’re getting or when you’re getting it? And before the lawyers on here jump in, no court will hold up advertising to consumers with delivery date ranges, feature deductions, and trade estimates off by thousands, just because the fine print contact says something else. The track record and consistency of misleading consumers will be its precedence.
voip-ninja
Give me some sugar baby
Tesla offers wholesale prices on trades because they aren’t in the business of selling used cars. The used car market is taking a beating so you might not get as much for your car as you think.
Tesla has always been well below wholesale. They’re banking off the convenience of trading and keeping your, what would be your tax credit as a profit. I can assure you, when it comes time, for Tesla, to sell your previous vehicle they have a team maximizing profit.
voip-ninja
Give me some sugar baby
My experience has been that Tesla offers similar money to what other "buy now" places like Car Max offer. If the person I was responding to feels like he can get a better price on his trade there's no reason to cancel his Model S order over a low offer.
Tesla should have made a GENUINE offer at the onset and not led me on. Taycan prices, as with most Porsches, are holding up very well.
Doesn't Tesla specify that the trade-in offers are good for 30 days only? Is your complaint about Testa not honoring the quoted price within the 30 day period, or that they adjusted the revised quote lower than your expectation after 30 days?
If the former, I understand your complaint. If the latter, Tesla has not done anything to mislead, outside of not delivering your new car within the 30 day period, right?
You might read my post from yesterday at 7:21PM in this thread. That happened from Tuesday 11/29 thru Friday 12/2.
voip-ninja
Give me some sugar baby
So sell it private party or sell it to a wholesaler. Your reaction is bizarre.
I agree, Geezer’s reaction is bizarre. It’s not like Tesla has some secret algorithm that tricks people into putting down a deposit on the basis of a fake trade-in offer. For whatever reason, the offer amount changed. So take your Porsche to CarMax. If their offer is closer to what you were hoping for, sell it to them. Or if they offer $99k then at least you know you’re getting a fair offer from Tesla. Either way, I don’t see what this has to do with the car you ordered.
I'm not sure why you think it's bizarre. I entered an agreement with Tesla at a trade value of $116,500 and then made a $250 deposit. Two days later they come back and say the trade is only $99,000. Sure! I could sell it to a private party for $120k but the tax advantage on trading is $8155 plus the hassle of selling. I think Tesla's reaction is Bizarre.
What did Carmax or one of the other cash for cars folks offer?
Last car I traded to Tesla, they were less than Carmax but the difference in tax meant I still did the Tesla deal.
Its worth the comparison to get context for the Tesla offer.
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