How does the trade in work?

[Trevor B]

Do I just give Tesla details of my existing car, they come back with a quote and I can either accept/reject?

 

[MXWing]

Do I just give Tesla details of my existing car, they come back with a quote and I can either accept/reject?

Or try and get them to price match someone elses quote.

 

[Dante]

Theyll send you a form asking for pictures, info about the car/damage/repairs, wheels, mileage, etc... then come back with a quote. Then you bring it to them, they give it a once over, and you sign a paper.

 

[brobinson]

Do I just give Tesla details of my existing car, they come back with a quote and I can either accept/reject?

Effectively, yes. You will get a link via text message that will have you upload specific photos of the car and your registration. From my experience, they will only match Carmax appraisal values if higher.

I ended up using Carvana. Still less then a private sale, but significantly more then both Tesla and Carmax offered, and really painless to complete.

 

[thebeezknez]

I would go to Carmax and get a quote from them and have Tesla do a separate one. If Tesla is higher go with them , if they come in lower they will usually match Carmax or whoever

 

[PoitNarf]

I got quotes from Carvana and another site (I forget which one). Both came in at around $7100 for my 2012 Ford Mustang with 108,000 miles on it. I submitted all of my info to Tesla for the trade-in and they offered $6800 which I gladly took. For me the $300 difference was worth the convenience of dropping my old car off right when I picked up my Model 3. Had I gone with Carvana or some other place to sell my old car I would have had the hassle of dealing with a rental car for a few days or even a week, plus figuring out transportation to pick up my Model 3.

As others have mentioned you don’t have to accept Tesla’s offer on your trade-in. If you don’t like their offer just reject it if you can get a better deal elsewhere. At least for my case the Tesla trade-in offer was right around what I was hoping for based on trade-in values I research on KBB and Edmunds. To be honest I thought I made out like a bandit getting $6800 for a Mustang with over 100K miles on it! Even if the offer you get from Tesla is slightly less than other places make sure you factor in the convenience of being able to drop your car off at Tesla when you pick up your Model 3.

 

[mekberg]

Another benefit to trading in with Tesla is it may reduce the taxable amount of your new vehicle purchase.

States That Allow Trade-in Tax Credit

 

[talkingevs]

Another benefit to trading in with Tesla is it may reduce the taxable amount of your new vehicle purchase.

States That Allow Trade-in Tax Credit

So are you saying a $50,000 model 3 will only cost 48000 with a 20,000 trade in for Nevada?

 

[cmaster]

Tesla will give you an appraisal based on your info. You don't need to bring the car in.

 

[mekberg]

So are you saying a $50,000 model 3 will only cost 48000 with a 20,000 trade in for Nevada?

Sales tax rate is 8.265% in Nevada according to the internets.

$50k car without trade-in would result in a $4,132.50 tax bill.
$50k car with 20k trade-in (30k taxable) would result in a $2,479.50 tax bill.

 

[gavine]

Another benefit to trading in with Tesla is it may reduce the taxable amount of your new vehicle purchase.

States That Allow Trade-in Tax Credit

Not in NJ......Zero emission vehicles are exempt from sales tax in New Jersey. Great for the new purchase, but makes the trade-in tax advantage go-away.

 

[mekberg]

Not in NJ......Zero emission vehicles are exempt from sales tax in New Jersey. Great for the new purchase, but makes the trade-in tax advantage go-away.

Why is why I said may.

 

[SageBrush]

So are you saying a $50,000 model 3 will only cost 48000 with a 20,000 trade in for Nevada?

We should ask Elon to include a calculator app in the car.