Expired trade in update

[Jason71]

Unfortunately that's what I think will happen. Covid has been a bit of a nightmare with both my Tesla orders, first one was due for collection a few days after UK went into its first lockdown and this one would have been here if it were not for the closure of the Shanghai factory. If the trade in price is now poor then I will just keep my 2020 model although I was looking forward to a newer MIC car, the recent price increase may help a bit and there are other options such as WBAC, Motorway etc that I will look into before cancelling my order.

Also unless your EDD END date is within 60day probably don't expect an updated valuation any time soon.
I think you will find Motorway etc to be much better than Tesla trade now. Those high prices from around March are now a thing of the past.

 

[Durzel]

Motorway offered me marginally more than Tesla were offering recently, I think it was ~£49,200 from Motorway vs £48,400 from Tesla (down from £55,700 at one point a few weeks earlier). The opposite was the case up until recently, but I think Tesla were doing their end of quarter pushing, whereas now they aren't going to deliver anything that isn't already here before the end of the month.

 

[Morak]

Sold my M3LR through Motorway today. Super easy. Guy turned up, I took him for a quick drive, money arrived, he drove the car off.
Tesla offered me £44,900 (down from £49,600 originally). Got £47,055 in the end from Motorway. M3LR,19,MSM,EAP.

I guess it fundamentally depends on which dealer you end up buying the car though.

 

[Jason71]

Sold my M3LR through Motorway today. Super easy. Guy turned up, I took him for a quick drive, money arrived, he drove the car off.
Tesla offered me £44,900 (down from £49,600 originally). Got £47,055 in the end from Motorway. M3LR,19,MSM,EAP.

I guess it fundamentally depends on which dealer you end up buying the car though.

I am waiting on a trade in update. I feel as if I might as well just pull it now and sell elsewhere no chance it will be anything other than a massive disappointment at this stage and if they know I am a cash buyer maybe that will push me up the queue a bit

 

[Epico]

Mine was picked up today, got over 3k more for it through carwow than I was offered for Tesla trade in...

No idea if they will go for it but the car was sold to parkway vw in Derby so if anyone is local you might wanna try going direct, you might get an even better price as they wouldn't have to pay commission/transport fees

 

[Durzel]

I am waiting on a trade in update. I feel as if I might as well just pull it now and sell elsewhere no chance it will be anything other than a massive disappointment at this stage and if they know I am a cash buyer maybe that will push me up the queue a bit

I honestly don't think customers have any leverage with Tesla at the moment. They arguably never have when it comes to sales, but particularly now with lead times going out. Tesla know that they can sell the car they've allocated to you several times over so they've got no real inclination to go above and beyond.

I also think "cash buyer" doesn't really count for anything in this game. The only thing you can really say is that not being in a chain so to speak makes it a much less stressful experience because you know the price is the price. I do feel for people who have ordered cars on the strength of very strong trade-in quotes only for Tesla to reduce them considerably, through no fault of their own.

 

[Epico]

I also think "cash buyer" doesn't really count for anything in this game

If anything I might suggest it would work against you as they don't get to sell you a finance package...aka more money

 

[Jason71]

I honestly don't think customers have any leverage with Tesla at the moment. They arguably never have when it comes to sales, but particularly now with lead times going out. Tesla know that they can sell the car they've allocated to you several times over so they've got no real inclination to go above and beyond.

I also think "cash buyer" doesn't really count for anything in this game. The only thing you can really say is that not being in a chain so to speak makes it a much less stressful experience because you know the price is the price. I do feel for people who have ordered cars on the strength of very strong trade-in quotes only for Tesla to reduce them considerably, through no fault of their own.

A few weeks ago Tesla seemed to have loads of used cars. today if you go look at their site they have 10 used M3 LR's for sale so given that there is good money to be made on the used Teslas. They might have to up their offers soon or they will run out of stock to sell. The low sales volume of new cars this quarter will not help.

 

[Epico]

A few weeks ago Tesla seemed to have loads of used cars. today if you go look at their site they have 10 used M3 LR's for sale so given that there is good money to be made on the used Teslas. They might have to up their offers soon or they will run out of stock to sell. The low sales volume of new cars this quarter will not help.

Maybe they should offer market rate then...

 

[Durzel]

It does seem odd that they've swung the other way. I mean, for my car Motorway is offering me approx £49,200 and Tesla are offering £48,800. With the latter I'd have to buy another car to get that, with the former it's cash in the bank. You'd naturally assume a trade-in quote would be better than an outright sale simply because Tesla are getting you to buy another car.

That said, as before, they aren't short of customers so maybe they really can choose to be picky about used stock.

 

[garreth64]

It seems Tesla's current valuations are now only 30 days, as mine has just ran out again.

My original valuation was valid for 60 days, but the revised one has run out after 30, so I've just re-submitted my mileage again.

Reading several comments, it looks like they are offering lower values now, so preparing to be disappointed, though a bit miffed as well as I only placed the order on the strength of the p/x Value and what was a May/June delivery at the time.

Now I've missed the boat with a revised Aug/Sept delivery, so if the trade in is poor I think I will just keep the M3P which is no real hardship, unless I can get a decent offer from Motorway or similar (we about £2.5 less than Tesla last time I looked).

This next valuation will run out again before delivery anyway, so will still have to get one if not two more valuations if they are now only valid for 30 days.

 

[seadog]

Yes you're correct trade in terms have been updated.

 

[Durzel]

That doesn't seem like a good sign. It would tend to suggest that Tesla aren't keen on giving quotes that might end up being too generous by having 60 day validity periods, and that the likelihood is that with each consecutive 30 day period the prices are more likely to trend downwards than up (which would be more like the normal run of things).

 

[garreth64]

Those T&Cs also state you will receive an offer within 48 hours. Has that changed too? It has taken longer than that previously from memory.

 

[seadog]

Gutted, trade in price has been renewed and has dropped almost £5K, this means I will now need to find £13K to swap rather than £8K, that's a huge difference in a few months, the car is in exactly the same condition apart from adding 3,000 miles. Looks like it will have to be WBAC or cancel the order.

 

[Jason71]

Gutted, trade in price has been renewed and has dropped almost £5K, this means I will now need to find £13K to swap rather than £8K, that's a huge difference in a few months, the car is in exactly the same condition apart from adding 3,000 miles. Looks like it will have to be WBAC or cancel the order.

WBAC and Motorway prices have been up recently. I suspect the lack of new sales in Q2 has robbed the used market of stock since we are all still driving around our old cars instead of moving them on. WBAC offered me the other day more than the March Tesla trade in. I know they will nickel and dime you but its 7K more than they were offering in March! Mind you the new price has also gone up £7k in that time which also probably helps

 

[Durzel]

My Tesla trade in price has gone from £48,800 to £50,200. A far cry from £55,700 back in March, however.

Motorway offering £49,000 and WBAC £50,000, so it seems it's not always Tesla that are the lowest.

You could make a good argument that Tesla offered these high prices to induce people to place orders for a new 3 or Y, knowing that a decent proportion of them would still proceed even after they get a reduced offer when it came time to actually getting their car. There has been plenty of time between when people placed orders and now for them to build up excitement for the new car, enough to begrudgingly proceed with the lower offer when the alternative is to keep the car they might have fallen out of love with.

A pretty shrewd tactic really, but it does suck for everyone who has had quotes expire through no fault of their own.

 

[earlstamford]

My March trade-in estimate of £47,400 for a 2019 M3P expired and was refreshed today to £42,500 (1,500 additional miles).

 

[Jason71]

My March trade-in estimate of £47,400 for a 2019 M3P expired and was refreshed today to £42,500 (1,500 additional miles).

the good news is it means they think your car will arrive in the next 30days. My EDD end date is only 35 days away and I still don't have a revised price which does not bode well for its accuracy.

 

[Jason71]

So I just got my updated trade in from Tesla. On the one hand not as terrible as I thought it would be, about £2000 less than the original in March but by the time I swap it the car will have done at least 5K more miles than it had then and be 20% older. It may be less than I can get from Motorway but may be close enough for me to accept the convenience (new price is up £7K mind for the same car in that period!)
BUT
I have been waiting for 3 months for this update and now they have finally given me one it does not even cover most of my delivery window!!!
the window is 5th to the 19th and the price expires on the 11th. If they offer me pickup after that and drop it again I will not be happy.
The car is probably on Glovis Companion that arrives on September 1st so hopefully OK and I will have by the 9th but surely having made me wait this long they could at least make the offer cover their own EDD .