How is it Possible my 2023 MYLR Trade in value is so low?

[GDub]

At least if you have a Plaid that fell in value, you still have a Plaid..
having a base model 3/Y fall in value hits hard twice

Don't get me wrong! Hate the resell value. But quite happy with my MYLR!

 

[GDub]

I would say Tesla’s are being priced closer to what they’re actually worth. The Model Y was never a $60-70k car, the Model S and X were never $100k+ vehicles. But when people were willing to pay that amount, Tesla was selling them for it. If you paid that amount, you had to know you were overpaying for the “privilege” to own a Tesla right then and there. You can’t complain now that prices have come back to reality.

Not complaint so to speak...observation. I love my MYLR, not the resale value. I'm good. Only money and I don't have to worry about that...just the principle. No worries, just observation.

 

[GDub]

Unfortunately you bought at the peak and Tesla prices have come down a lot since. No matter where you trade it in, you’re going to take a bath. Best to keep it, unless you’re willing to throw away money, which it doesn’t sounds like you are.

I probably did buy at peak. Overall I'm completely happy with my purchase. I love the way it drives and handles, especially next to combustible cars.

 

[Kairide]

Not complaint so to speak...observation. I love my MYLR, not the resale value. I'm good. Only money and I don't have to worry about that...just the principle. No worries, just observation.

I probably did buy at peak. Overall I'm completely happy with my purchase. I love the way it drives and handles, especially next to combustible cars.

Your original post stated you’re trying to offload it for an X. If you are truly happy with your Y, then why did you even create this thread? Seems like you’re just at the acceptance stage of your grief, not the happiness stage.

 

[stlgrym3]

I went to Tesla Service and wanted to see about upgrading my MYLR for a Model X and this is what I'm told my car is worth ($40K). My MYLR is Black with White Interior. Has 18,400 miles. I paid $71,000 for this vehicle ordered Feb 2022. I've heard some Model X and S Owners complaining about how their vehicles trade-in value has either plummeted or stagnated.

Back to my MYLR....if you go online say Tesla Used Car Inventory, you'll see 2020 MYLR are priced for sale at $50,000+

What is the deal. Not a happy Customer right now!

Thanks for hearing me out and sharing any experiences like this you had.

just to make you feel better, my 2023 Model Y Performance with 15000 miles was quoted $39000 from Tesla trade in program. of course i didn't go through with it.

 

[jay1122]

Uh, a new MYLR now is $50K. And there are fed and state incentives available too. I can get a brand new MYLR for $41K Out the door in NJ. Your trade in estimate seems fair to me.

 

[EliDaBulldog]

I bought a 2023 MYLR in April 2023 for 53k.

I just traded it to Tesla this week, I got 41k. My car is just below 6k miles.

The best trade in offer came from AutoNation at $42k. Carmax and Carvana 37/38k respectively.

 

[EliDaBulldog]

I live in AZ and we get sales tax credit for trade-in so that's why I took the Tesla offer. As I am buying a used, low mileage, Model S from them. My sales tax is only $300 thanks to the trade in credit.

 

[N2B8]

Just sold my 22 MYP w 31k miles for 41,700 to a GM dealer. Best cash value from the online guys was 38k (KBB).

So the lesson here is whatever cash offer you get online, you can safely get an extra 10% by haggling w the dealer (if you don’t want to go the pp route). Only took me 2 days to complete the transaction. I didn’t even try Tesla trade in.

This was 64k when I bought it 2y ago. At that time, the MXLR was about 110k so delta was 50k. Now the X is 73k w the credit so my delta is only 20k. It’s a win in my book.

 

[Kairide]

so my delta is only 20k. It’s a win in my book.

You lost $22k, you can spin it anyway that makes you feel better though.

 

[N2B8]

You lost $22k, you can spin it anyway that makes you feel better though.

Don’t be an idiot I’m here to offer some value by sharing my experience so someone might lose less money. Of course I lost money I’ve never sold a car and not lose money. Right now no one feels good if they have to sell a car.

 

[drtimhill]

I share your disappointment; This is going on all over the world; Everyone should accept the fact that Musk is all about the $ wealth; Has the power to discount and devalue Tesla prices anytime anywhere..
So it’s best to just enjoy our original purchase…

So he raises prices and people claim he's in it for the $$ .. then he lowers prices and ... he's STILL in it for the $$$ ???

The fact is, trade-ins on ANY car at ANY dealer have always been the worst financially for the seller. The dealers know everyone hates the hassle of selling a car privately, so they low-ball offers as a way to get more $$$ from the buyer. But it's seller laziness really .. if you want the best $$$ on ANY car, sell it yourself.

 

[Big Earl]

It's incredible to me how many people are willing to step over thousands of dollars in the name of convenience.

Exactly this, and how I just ended up with a low mile 2018 Model X for under $35K. I bought from my father, who was completely sold on the convenience of trading in. I offered him Tesla's trade-in offer plus the sales tax reduction he would have gotten on his new Y.

 

[N2B8]

In 2022 when I sold my 3 w 40k mi to get the Y. I got 45k for it, I think I only spent 49k after rebates when it was new in 2018. So in the grand scheme of things it’s still fair to me.

Now the 155k MS Plaid I bought in 2022, let’s just not get into that right now

 

[ucmndd]

So he raises prices and people claim he's in it for the $$ .. then he lowers prices and ... he's STILL in it for the $$$ ???

You got the gist of it. Financial illiterates that bought at the peak of a bubble are out for someone to blame and it need not make any sense at all.

 

[Stirfry]

You got the gist of it. Financial illiterates that bought at the peak of a bubble are out for someone to blame and it need not make any sense at all.

I bought at close to the peak but don't consider myself a financial illiterate lol.

 

[ucmndd]

I bought at close to the peak but don't consider myself a financial illiterate lol.

I mean, timing is what it is, I'm talking about the people moaning about "Elon" tanking their resale value by voluntarily lowering prices in response to the market.

 

[Stirfry]

I mean, timing is what it is, I'm talking about the people moaning about "Elon" tanking their resale value by voluntarily lowering prices in response to the market.

I gathered as much, it's all good. Somehow I even question if Elon is in charge of setting prices. He probably doesn't care and has other things on his mind.

 

[davelv]

Tesla tradein values are low Black Book and are below what the car will get on the worst slowest auction day. As others have said, Tesla sells new cars and does not want tradeins.

 

[Tha_Ape]

That's not what it's worth, it's what Tesla is willing to pay for it. Tesla has made it painfully obvious they don't want to be in the used car business by offering comically low trade-in offers. The only issue is that people continue rewarding this bad behavior by actually giving away their cars and Tesla has found a rather lucrative profit center.

The advice I would provide is that you go anywhere else to sell/trade your car. You'll get more from the other popular online car buyers and quite a bit more if you clean it up, get some pics and write a brief description yourself.

It's incredible to me how many people are willing to step over thousands of dollars in the name of convenience.

I went to Carvana to sell my last car. They gave me a decent price so I sold it.

I might have been able to make more with a private sale, but it's a hassle.

I know that's not the same as Tesla low-balling people, but I think it's a happy medium between convenience and payout


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Also, FWIW, it's generally better to lease if you don't intend on keeping the car for >5yrs.