Welcome to Tesla Motors Club
Discuss Tesla's Model S, Model 3, Model X, Model Y, Cybertruck, Roadster and More.
Register

Help! Should I Trade in 2018 Model X P100D for 2020 P3

This site may earn commission on affiliate links.
2018 Model X P100D with a surprisingly reasonable trade in offer of $91k expires Feb 18. My concern is that with the looming changes to the S/X and Model Y nearing deliveries that the value for the X is going to drop dramatically over the next few months. Am I crazy to trade in now for a performance model 3 while I still have decent value?
 
I'd trade it in for a new X. Have you test driven a 3P?

I personally wouldn't do it. If OP had options like a 6 seat and FSD and 22 inch wheels the cost to upgrade to a new performance X would be way too high after taxes for not much in return. Going from a P to non P X would not be fun either. If size isn't a concern, the P3D may be a good move as it's a fun car with all the new tech. I own both a P100D X and a LR 3 and they are both fantastic for their uses. The 3 is much better in the city and for grocery runs and even for longer drives it's comfortable and is very efficient. The X can haul more luggage and people and getting to 0-60 in 2.7 sec in such a heavy car is an incredible feeling that hasn't gotten old for me.
 
  • Like
Reactions: KMMM
Can you explain how this trade in works. The 3P is a much lower than 91K. Would they give you a 3P and a big check?

I also suggest your drive the 3P before you trade. We have both a X and a 3 LR and they are much different cars in many ways. We use the X 80% of the time.
 
  • Like
Reactions: mswlogo
Can you explain how this trade in works. The 3P is a much lower than 91K. Would they give you a 3P and a big check?

I also suggest your drive the 3P before you trade. We have both a X and a 3 LR and they are much different cars in many ways. We use the X 80% of the time.

Thanks for the feedback. I still owe money on the X loan but Im still coming out with several $$$ to put towards the Model 3 if I would make the move now. The idea to make the move now would be to capitalize on my equity before the X drops in value as forecasted with the updates on the horizon. The challenge with the test drive is that Im not close to a Tesla dealer and there is no P3 in stock to drive. Based on the feedback it sounds like the 3 is much different, harsher and nosier ride. I live in a cold climate with terrible roads and this might not be the best move. Thanks again for the replies.
 
Thanks for the feedback. I still owe money on the X loan but Im still coming out with several $$$ to put towards the Model 3 if I would make the move now. The idea to make the move now would be to capitalize on my equity before the X drops in value as forecasted with the updates on the horizon. The challenge with the test drive is that Im not close to a Tesla dealer and there is no P3 in stock to drive. Based on the feedback it sounds like the 3 is much different, harsher and nosier ride. I live in a cold climate with terrible roads and this might not be the best move. Thanks again for the replies.
Between potential updates to x/s, volume of model 3, y, and battery limits, i think value will be consistent if there are no substantial price drops.
 
  • Like
Reactions: KMMM
Thanks for the feedback. I still owe money on the X loan but Im still coming out with several $$$ to put towards the Model 3 if I would make the move now. The idea to make the move now would be to capitalize on my equity before the X drops in value as forecasted with the updates on the horizon. The challenge with the test drive is that Im not close to a Tesla dealer and there is no P3 in stock to drive. Based on the feedback it sounds like the 3 is much different, harsher and nosier ride. I live in a cold climate with terrible roads and this might not be the best move. Thanks again for the replies.

OK. Did not realized you owed on the car. Makes sense.

You can thank the Wisconsin Dealer association for not having Tesla showrooms in Wisconsin. My family there complains about this all the time. Vote in November to change that.
 
Remember you will have to pay sales tax on a new car.

Actually he would not. 44 states, including OP’s state of Wisconsin you pay taxes on the difference you have to pay after trade.

This typically only works if you trade into the dealer your buying the new car at. If you sell private or to something like CarMax you lose that tax credit.

Now since there are no Tesla dealers in Wisconsin I’m not sure how it all works. In MA you (can) pay taxes at registration time. And for these out of state Tesla purchases I think you end up registering it yourself and deal with tax due then. Paper work should show you did a trade. This stuff varies state to state in the details even though they have similar tax credit on trades.
 
I am actually doing the exact opposite. My logic is that once the Y is out, the value of used 3s will plummet, so I wanna get rid of mine before Y hits the market in March.

why would that happen though? who would cross shop a used Model 3 with a new Model Y? Only the expensive trims are being launched and used Model 3's are asking close to new Model 3 prices. Now maybe in about 4 or 5 years when there are sub $20k SR+ Model 3's around.
 
why would that happen though? who would cross shop a used Model 3 with a new Model Y? Only the expensive trims are being launched and used Model 3's are asking close to new Model 3 prices. Now maybe in about 4 or 5 years when there are sub $20k SR+ Model 3's around.
Many M3 owners that I've spoken to are considering trading their M3 for the MY. I feel that the supply for used M3 will grow quite a bit, but I guess only time will tell...
 
Many M3 owners that I've spoken to are considering trading their M3 for the MY. I feel that the supply for used M3 will grow quite a bit, but I guess only time will tell...

It seems like the ramp will be slow enough that this replacement process will happen over a period of a year or more. Don't expect a Model 3 resale to drop like a rock in April. It's not like when Ford releases a new F150 and there are 30 of them sitting on the lots at all the dealerships.
 
It seems like the ramp will be slow enough that this replacement process will happen over a period of a year or more. Don't expect a Model 3 resale to drop like a rock in April. It's not like when Ford releases a new F150 and there are 30 of them sitting on the lots at all the dealerships.
I agree with you that it won't drop like a rock, but I think as used Model 3 cars hit the lots, the price will start dropping. I'm getting out while I'm ahead, so it's kind of a no brainer...
 
  • Like
Reactions: BulldogsRus