How accurate is trade in value?

[evannole]

I think they’ll tell you that it has to be an electronic transfer or a bank draft. I don’t think they’ll accept a third party check, even from CarMax.

Thanks. I suspected that would be the case. Fortunately I've done the math and I think we'll be fine as we can easily cover the trade value plus down payment with cash we already have on hand. But it would be simpler if we could just endorse the check over to them.

 

[Dantley]

I received my trade-in offer from Tesla for my 2019 Kia Niro BEV. Their offer was less than $500 lower than my local Kia dealer offered. I had looking at the Kia EV6 until the price drop on the MYLR.

 

[Occhis]

I just did this, trading my 2019 Model 3 in for Model Y. They gave me a range before the order because I asked for the estimate. When I actually ordered, they asked me again if I wanted to do a trade. When I said yes they asked for a picture from each side of the car and one of the inside from the right with the door open. After a day or two, they came back with an offer near the bottom of the initial range. Still fine with that at 60% of what I paid 3.5 years and 44K miles ago.

I’m doing an almost identical transaction. Mine is 2019 M3 LRAWD, 46000 miles purchased may, 2019. Ordered MY, white/black, no hitch, on 1/19. If you don’t mind my asking, when did you place your order, and what was the final trade value you received?

 

[airpor41]

I’m doing an almost identical transaction. Mine is 2019 M3 LRAWD, 46000 miles purchased may, 2019. Ordered MY, white/black, no hitch, on 1/19. If you don’t mind my asking, when did you place your order, and what was the final trade value you received?

$31.4K. Purchased Aug 2019. 44K miles. FSD which they claim is part of the offer.

Just looked up the intial offer and was surprised to see it was lower than I remembered: $28.7K - $32.1K, so they paid near the top of that.
A few months ago the offer was up in the low 40's but that was crazy.

I paid about $50-51K after taxes for the Mod3, so this is about 60% of that as I noted.

I ended up putting in about $25K in cash to change cars but I should get $7.5K of that back when I do 2023 taxes next year. I'm pleased with it overall considering the miles I put on the 3.

Oh, and the new Y is MUCH cleaner than the 3.

The Y is also a bit more ponderous in comparison to the 3 but I seem to be getting used to it. I would choose to drive the 3 but I have to have higher seats for my Mother and they are easier on my wife as well.

 

[Occhis]

$31.4K. Purchased Aug 2019. 44K miles. FSD which they claim is part of the offer.

Just looked up the intial offer and was surprised to see it was lower than I remembered: $28.7K - $32.1K, so they paid near the top of that.
A few months ago the offer was up in the low 40's but that was crazy.

I paid about $50-51K after taxes for the Mod3, so this is about 60% of that as I noted.

I ended up putting in about $25K in cash to change cars but I should get $7.5K of that back when I do 2023 taxes next year. I'm pleased with it overall considering the miles I put on the 3.

Oh, and the new Y is MUCH cleaner than the 3.

The Y is also a bit more ponderous in comparison to the 3 but I seem to be getting used to it. I would choose to drive the 3 but I have to have higher seats for my Mother and they are easier on my wife as well.

Higher seats, as well as more cargo space, were the main reasons for MY. I love driving my 3, especially since installing Redwood GT coilovers. We’re both in our 70s and wife has knee issues, so easier access of the Y is my trade-off for better handling of the 3. Test drove a Y on Wednesday. Solid, quiet and rides well with the improved suspension, so it was a no-brainer for me after price reduction. Also selling our Ford Flex SUV going to just one car for the first time in 30 years, so this will give the cargo space lost with the Flex. I was shocked how much cargo area the Y has.

 

[Ray_R]

Higher seats, as well as more cargo space, were the main reasons for MY. I love driving my 3, especially since installing Redwood GT coilovers. We’re both in our 70s and wife has knee issues, so easier access of the Y is my trade-off for better handling of the 3. Test drove a Y on Wednesday. Solid, quiet and rides well with the improved suspension, so it was a no-brainer for me after price reduction. Also selling our Ford Flex SUV going to just one car for the first time in 30 years, so this will give the cargo space lost with the Flex. I was shocked how much cargo area the Y has.

We have Redwood GT on our 22 Model Y. The stock suspension would rattle our teeth over bumps. I’m hoping we won’t need it for the 23 Model Y we have on order.
How close is the Ohlins to the new comfort suspension?

 

[shyboy]

They offered $7500 for my Jetta when I checked the trade-in value.
After I placed the order the offer dropped to $7300. There was a 300 miles difference of what I put it on tesla website when I run the quote. All of these events are within the 2 weeks time span.
so after I placed the order, I went back to my delivery tasks, and updated the mileage (added 300 miles). After a week or so they got back to me with $5750 trade-in value.
I reached out to my SA and inquired about this trade-in drop value, and she explained me that initially they just ran the soft quote. now I am more closer to my delivery so they have to run the hard quote so this is the price now.
I am still a month away from my delivery, I am not sure what the trade-in value will be looking like when I get closer to my delivery date.

 

[Occhis]

Coming from M3 it’s hard to compare. M3 is such a good handling car, especially on the GTs. After the MY test drive, got back in M3 to go home and immediately noticed how much better it handles. Only test drove the MY for 20 minutes, but based on that I would see no need to upgrade the suspension. (Never drove a Y with old suspension) The ride comfort on the Y is quite good. The biggest difference is the noise level. I’ve done multiple things to the 3 to quiet it down with minimal results. I’m on 19” tires, so that’s likely the main cause. The MY is SO quiet I could not believe the difference. And that was on 20” tires. I ordered 19s on the Y so should be even more quiet if that’s possible.
If you’re trading your 2022, I’d take the GT kit off b/c you’ll get a better trade value and maybe use on the new car if you think necessary.

 

[Ray_R]

Nope. We’re keeping the 22. That’s my wife’s car. The 23 will be mine.

 

[Occhis]

Nope. We’re keeping the 22. That’s my wife’s car. The 23 will be mine.

You’ll be shocked at the difference between stock 2022 and new 2023

 

[Ryan McHargue]

Decided to change from the MYLR to MYP for personal preferences. Do you think I will receive this before I would the MYLR, and how long would this EDD take to update?

 

[Ray_R]

You’ll be shocked at the difference between stock 2022 and new 2023

That would be fantastic. The harsh suspension was our only complaint about the 2022. Redwood fixed it, but it wasn’t cheap. Not facing that additional expense, plus the lower initial price, makes the 2023 really attractive.

 

[hp1234]

How does Tesla’s trade in value work? I just got an estimate on my Ioniq 5 and it ranges from $42K to $46K.

I’d put an order on a Y and see what the final offer is, but they’re charging a $250 non refundable fee.

What happens if they don’t honor their trade in value/range? Just wondering how this works since I did it a trade in with Tesla a few years ago and they gave an exact amount and attached it to the order (and there wasn’t a non refundable fee at the time).

Thanks in advance!

In the same boat as you with the Ioniq 5 trade. Ordered a Y yesterday, did you get the trade in value? Was it within range?

 

[hp1234]

How does Tesla’s trade in value work? I just got an estimate on my Ioniq 5 and it ranges from $42K to $46K.

I’d put an order on a Y and see what the final offer is, but they’re charging a $250 non refundable fee.

What happens if they don’t honor their trade in value/range? Just wondering how this works since I did it a trade in with Tesla a few years ago and they gave an exact amount and attached it to the order (and there wasn’t a non refundable fee at the time).

Thanks in advance!

In the same boat with the Ioniq 5 trade. Did you get a trade value and was it within range?

 

[stevewil]

In the same boat with the Ioniq 5 trade. Did you get a trade value and was it within range?

I did the same with the EV6. The soft quote on the EV6 was 45to 49K. The actual offer came in yesterday at 39.2. This seems almost like a bait and switch to get you to pay the 250 order fee. I think I am going to cancel as I am quite happy with the EV6.

 

[bro1999]

Tesla offered me 9400 for trade in. However I sold it to local dealer for 14k. Tesla trade in sucks. One another friend of mine Tesla gave 3000 trade in. He sold to local dealer for 5200. Again Tesla trade in sucks.

The old adage still seems to ring true: only trade in to Tesla if you hate money.

 

[hp1234]

I did the same with the EV6. The soft quote on the EV6 was 45to 49K. The actual offer came in yesterday at 39.2. This seems almost like a bait and switch to get you to pay the 250 order fee. I think I am going to cancel as I am quite happy with the EV6.

Excited to switch but if they offered 5k under the low end I would cancel too. I would request a chargeback and show the estimate range and actual and tell them it deceptive.

 

[DaveMY]

Tesla gave a "fair" value to me, but it was at the literal bottom of the range they originally quoted. They seem to be good at giving the lowest amount possible that someone is still likely to take.

 

[bulldog8934]

Here’s a couple quotes I got:
2018 VW Golf R: Tesla 22k, Carvana 34k
2002 Subaru Impreza OBS: Tesla $200, Carvana $2000
2003 Mini Cooper: Tesla $1500, Carvana $3000
Did CarMax as well but can’t seem to pull the exact numbers back up. They were in between Tesla and Carvana but leaned more towards Carvana.

I declined the Impreza quote with some pretty strong feedback. $200 for a running and driving car is insulting especially in today’s market. I could sell the wheels and tires for $400 on marketplace and scrap the rest for another $400-$500…

 

[RonAz]

Seeing as Tesla does not want used Tesla's traded in, wholesale pricing is all they offer. It would be a benefit to current owners of Teslas wanting to move to a new one if Tesla could offer a website to help buyers that have placed a deposit sell their current Tesla.
Tesla would assume no liability. This site would only bring sellers and buyers together. This might influence some buyers to purchase a new Tesla, because they could get more for their current Tesla. This site would also help to advance Tesla's mission to move people to electric by making it easier for someone who can't afford a new Tesla to get a used one from a private party at a good price. The used buyer would not be subject to car dealers as well. A big benefit for those buying a new Tesla.
I live in Arizona and private party to private party sales of used vehicles are not subject to state sales tax. This would benefit the used car buyer. The new car buyer would not get the sales tax reduction from trading in a car, but the higher price received for the used car should more than offset this.
Elon??????