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Low Trade-in For Model S for new Model S

Discussion in 'Model S: Ordering, Production, Delivery' started by roopesh, Apr 13, 2016.

  1. roopesh

    roopesh Member

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    What experiences do people here have with trading in their Model S for a new Model S?

    I have an "old" 2013 P85 (P05442) with 55K miles. I'm thinking of getting a new 90D so I got a quote for the trade in. They offered $42K. KBB, Edmunds, Cars.com, even AutoTrader all put the value between $52-$62K for a trade-in - up to $65K for a private sale.

    Do I need to talk to someone else at Tesla or are they just low baling to avoid the trade?
     
  2. kort677

    kort677 Active Member

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    tesla is attempting to make a profit on the car when they sell it.
    your only recourse is to try and sell the car privately
     
    • Like x 1
  3. cgiGuy

    cgiGuy Member

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    There are currently 2 Signature 2013's on Autotrader with lower miles than yours going for $60K. And since they're still on Autotrader, that means they haven't been snatched right up because they're such great deals.

    List it and see what kind of offers you get. Unfortunately, you all can't use the trade-in amount to reduce your tax on the new one. That's what made me accept a somewhat lower offer than I probably could have gotten from 3rd party. Not to mention, 3rd party has limited options with the warranty. So, unless you're offering the 4-year extended along with the car, they can't get a warranty on a Tesla with over 50K miles.
     
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  4. Rockster

    Rockster Active Member

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    Yes, the fact that the trade-in value offsets the taxable purchase price when part of the same transaction should not be overlooked. If this applies to you, it can make a difference.
     
  5. Zaphod

    Zaphod Galaxy President (former)

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    You could try CarMax and see what they offer. But as kort states, they want to make some money too. They will need to stick some money in it to recondition, clean, etc. and then factor in a little profit and you are not too far off.

    In my opinion though, all of the websites that calculate trade-ins such as the ones you mention, seem to be off for what they are calculating values. They are probably basing on what dealers and private sale people are asking for their cars and those are cars that have not been sold in years since they are asking way too much. I think it is skewing their algorithm or whatever they use.
     
  6. zer0cool

    zer0cool Member

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    #6 zer0cool, Apr 13, 2016
    Last edited: Apr 13, 2016
    Oh Tesla trade-ins are ridiculous. It was one of my negative experiences with Tesla. Too much of a low-balling makes one feel like being played for a fool. Last year, I asked them for a trade-in amount on my car, and they offered 42k on a 6 month old 65k BMW! Fortunately it was a lease and I was able to transfer the car without any monetary losses. In fact my deal was so amazing more than 10 people called me trying to get the car. I didn't pay anything, transfer fee, transportation. Buyer paid all the fees + my initial deposit.

    I think Tesla low-balls on trade-ins worse than Porsche. If you look at black book wholesale vs retail values, usually Panameras or Cayennes are traded in at least 10k below fair retail sale price.

    Lesson, don't trade-in to Tesla unless you simply have to. I mean I see many regular 2013 85s sold for low 50s on this board... if you mark your car in the 50s, you ll sell quickly.
     
  7. kort677

    kort677 Active Member

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    when I traded in my 2014 on a newer car I knew that I could have squeezed out $1-3k more by selling privately but it's been my experience that selling a $60k+ car is a different world than selling a $6k car. carmax came in with an almost $10k offer less than what tesla offered and coupled with the sales tax offset their offer was not all that low. considering all the "hoops" that need to be jumped through to complete a private sale the small amount of money that I may have left on the table wasn't worth my time and efforts to collect.
    YMMV
     
  8. Zaphod

    Zaphod Galaxy President (former)

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    It's one thing to trade in a Tesla, but trading in another brand certainly will result in less than ideal trade-in offer. They can CPO the Tesla or put into loaner fleet. Any other brand they don't want so they will just wholesale it or dump it somehow. They offer the trade-in as a service to customer. They don't want to be in the used car sales business.
     
  9. fbitz777

    fbitz777 Member

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    I am not sure about Tesla but in the past I have been able to get my Mercedes dealer to allow me to do a private sale and the pay sales tax only on the difference between the new car and the old one I was selling to a private party.

    I guess the deal was that I had to do it at the same time and they did all the paperwork.
     
  10. Cebe

    Cebe Member

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    I was offered this type of setup; didn't end up needing it, but they said they would do it, with a $500 processing fee or some such. Toronto Lawrence.
     
  11. SCDrJ

    SCDrJ Member

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    In my experience CarMax is a nice barometer of the trade-in market. Of course they need to make a profit but they seem to sense the market and offer what they think they can get for it less their intended margin. I have probably appraised 5 cars there and sold them 2. Sometimes you will be pleasantly surprised. If you get a better offer from CarMax than quoted by another dealer most places will match as well, don't know about Tesla though. Always more money privately though, but more hassles. When selling privately I try to meet the buyer at their bank where we complete the paperwork in the building and they can get a bank check while we are there (or loan proceeds or whatever). Also cameras everywhere if shadiness were ever to ensue.

    Is Tesla still using AutoNation for trades? Their offer on our leased car when completing our upcoming purchase was reasonable enough and since we had low miles gave us some $ towards the Tesla as the offer was more than the buyout. I was actually quite satisfied with this process. Tesla is using their own process for Tesla trades as they freshen up and CPO them, which we all know is a HUGE money maker. I'm a little disappointed that Tesla didn't try to give good money for trades on their own cars and protect their owners' investments a little better, especially since "high miles" and such isn't a AS big a deal on EVs, or so they tell us.
     
  12. LuckyLuke

    LuckyLuke Model S P85DL

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    Tesla offered me 55k, I declined it. Three weeks later I sold it to a trader for 72.5k , later saw it advertised somewhere above 80k.
    Don't sell to Tesla.
     
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  13. kort677

    kort677 Active Member

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    different states have different rules
     
  14. Drone Flyer

    Drone Flyer Member

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    Why would anyone want to trade in a 2013 already?
    The Model S is a beautiful car regardless of year.
    I'm not prepared to lose $30,000 trading in for a new one for just a few extras like Auto pilot. Not worth it.
     
  15. kort677

    kort677 Active Member

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    that's great that you're so pleased with your car, however we all don't share your opinion for many different reasons, you know there is a reason tesla cars come are offered in a few different colors
     
  16. Blueeyedme

    Blueeyedme Member

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    ...and this is why I leased. The technology is changing so fast.
     
  17. kort677

    kort677 Active Member

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    the only issue with leasing might the inability to get out of the lease if you ever want to upgrade sooner than the lease term.
     
  18. valkeriefire

    valkeriefire Member

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    Your 2013 is a very nice car, but it is an early production VIN (under 10k) and has a lot of miles. I've been shopping a lot and I've passed up opportunities to buy excellent condition 2013 P85s with 8000 miles (VIN 24k and 27K). Both of those cars were being sold for $67k. Currently a low mileage S85 is in the low $60s. Your car has high mileage which would put it in them high $50s to most informed buyers private party. I would say Tesla's "trade in" estimate is what you should expect from a dealer. Never sell your car "trade in" if can avoid it. Just being honest here, I know it probably isn't what you want to hear.
     
  19. NoMoGasNeMo

    NoMoGasNeMo Member

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    High $50s that generous. Tesla is beginning to sell CPOs again if your able to find an advisor that will answer the phone or return an email. Today I was lucky and got a hold someone. They had a 2013 black p85 pretty much fully loaded except rear seats with 34k miles for $54k. Also had a 2013 black p85+ with 11k miles for $60k. Once they start posting these cars again on their website it's going to blow up the private market. Based on the above private sellers are asking about $10k above true market price.
     
  20. Larry93428

    Larry93428 Member

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    I accepted $49k for my 2014 in trade for a 2016.
    32,000 miles, RWD, air suspension
    ~Larry
     

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