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Helpful info for those considering trading in Tesla Model 3 for a Tesla

Discussion in 'Model 3' started by tchaimd, Aug 3, 2018.

  1. tchaimd

    tchaimd Member

    Joined:
    Sep 7, 2013
    Messages:
    55
    Location:
    Houston, TX
    Hi, everyone,

    I have a 2018 Tesla Model 3 LR, and I am going to upgrade to the Performance version.

    Manufacture date 2/2018
    Silver
    6,500 miles
    All options except Enhanced Autopilot and FSD.


    I received an offer from Vroom for $47,000, and am waiting for givemethevin.com for a quote.

    I spoke with Tesla regarding trading in the vehicle and matching outside offers, and I was surprised to learn that they will only match offers for NON-Tesla vehicles for trade-in. In other words, if you are trading in a Tesla to Tesla for a Tesla, no price match!

    Very disappointing, as Tesla matched an outside offer for my BMW i8 that I previously traded in to them.

    I will likely sell to the third party and buy new from Tesla, but unfortunately will not benefit from the sales tax savings for trading in a vehicle.

    Just thought it would be helpful info for you all!
     
    • Informative x 4
    • Helpful x 2
  2. Tforme

    Tforme Member

    Joined:
    Mar 30, 2017
    Messages:
    124
    Location:
    Spring Lake Fl
    Just had a similar experience. I’m interested in trading my 2013 MS for a new one. My car has lower than average miles and is in very near flawless condition. Tesla’s trade offer was $5,200 below Kelly trade value. That’s only 86% of the Kelly listed value.

    And just to add insult I was told that if I wanted to trade my Chevy Bolt instead they would give me full Kelly trade value for it! “So my Bolt holds its value better than a Tesla?” I asked. Tesla rep just looked down and mumbled something.
     
    • Informative x 3
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    • Funny x 1
    • Love x 1
  3. Tdriver

    Tdriver Member

    Joined:
    Jan 20, 2015
    Messages:
    344
    Location:
    Palm Desert, CA
    Trading in a car to a dealer will always be disappointing........sell it.
     
    • Helpful x 1
  4. kgclark

    kgclark Member

    Joined:
    May 1, 2015
    Messages:
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    Location:
    Cazenovia, NY
    What did Tesla offer you?
     
  5. Jedi2155

    Jedi2155 Model 3 has Arrived.

    Joined:
    Jul 6, 2018
    Messages:
    846
    Location:
    Diamond Bar, CA
    Also what are you hoping for?
     
  6. kutkuzak

    kutkuzak Patrick

    Joined:
    Aug 2, 2017
    Messages:
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    Location:
    Indiana
    Trading in can give you significant savings in terms of sales tax paid though. Don't forget that.
     
  7. Jedi2155

    Jedi2155 Model 3 has Arrived.

    Joined:
    Jul 6, 2018
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    846
    Location:
    Diamond Bar, CA
    Sadly I found out this doesn't apply in the following states:
    California, Hawaii, Kentucky, Maryland, Michigan, Montana and Virginia
     
    • Informative x 2
    • Like x 1
  8. kutkuzak

    kutkuzak Patrick

    Joined:
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    Location:
    Indiana
    Ouch, good to know.
     
  9. guywithkeyboard

    Joined:
    Oct 7, 2014
    Messages:
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    Location:
    United States
    Thanks for the note. Have you heard back from givemethevin yet?
     
  10. rlb4

    rlb4 Member

    Joined:
    May 22, 2018
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    168
    Location:
    Northern NJ
    And NJ as well.
     
  11. David99

    David99 Active Member

    Joined:
    Jan 31, 2014
    Messages:
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    Location:
    Brea, Orange County
    Yes that's common. Tesla doesn't offer a reasonable price for your used Model S or X. When I asked them about mine they offered well below value.
     
  12. MXWing

    MXWing Active Member

    Joined:
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    Location:
    USA
    No tax on EVs in NJ.
     
    • Like x 1
  13. rlb4

    rlb4 Member

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    Location:
    Northern NJ
    Correct
     
  14. Recumpence

    Recumpence Member

    Joined:
    Mar 25, 2018
    Messages:
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    Location:
    Chicago, IL
    Ha, I have an answer for you guys! I just received an offer from Tesla for my 2018 M3 LR. I was offered $43,000 to trade up to a performance M3. Not worth it. But, I understand they have to resell it.

    I will either wait a year to trade it in, or wait to trade up to a Y if they look like a good option.

    Matt
     
  15. Raechris

    Raechris Member

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    Nov 21, 2017
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    Location:
    Boston
    That trade value sounds good 51k-7.5k = 43500. What am I missing?
     
  16. SageBrush

    SageBrush 2018: Drain the Sewer

    Joined:
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    Colorado
    Where did the $51k come from ? I paid that amount, but without upgrades that could have pushed the car up to ~ $60k.
     
  17. rdlink

    rdlink Member

    Joined:
    Jul 12, 2018
    Messages:
    461
    Location:
    Colorado
    OP said all options other than EAD. When you configure as he says his is built it comes in at around $52K. Back when he bought it the price would have been closer to $51K. Personally, if Vroom is offering $47K I'd take it. Money in the pocket today instead of a year from now.
     
    • Like x 1
  18. ℬête Noire

    ℬête Noire Active Member

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    Location:
    TX
    If tchaimd had gotten a match from Tesla it'd be great (thought not quite as good as you suggest). They'd save $2820 in sales tax on the Performance trading that way (recouping from the original cost), which you don't get if you sell it separately to a 3rd party.
     
  19. Raechris

    Raechris Member

    Joined:
    Nov 21, 2017
    Messages:
    239
    Location:
    Boston
    I expect Tesla knows that. Seems like a zero cost upgrade without depreciation. As OP stated many states give sales tax credit trading the car for another vs private sale.
     
  20. Glamisduner

    Glamisduner Active Member

    Joined:
    Aug 2, 2017
    Messages:
    1,270
    Location:
    Escondido, CA
    Are you guys saying that if you trade your car into Tesla you save on sales tax because it comes off the cost of the vehicle? I'm in CA but i have never heard of such a thing so maybe I don't understand?
     

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