Lowball Trade-in Offer from Tesla

[steve86]

Hey Everyone,

I am wondering if I did anything wrong. I just placed my order for the Model Y and I just got my trade in offer from Tesla. My 5 year old car is in excellent condition with low miles (under 15k miles). Kbb said trade-in value was around 26k and Carvana said it was 24k but Tesla offered 11,500.

 

[rxlawdude]

Hey Everyone,

I am wondering if I did anything wrong. I just placed my order for the Model Y and I just got my trade in offer from Tesla. My 5 year old car is in excellent condition with low miles (under 15k miles). Kbb said trade-in value was around 26k and Carvana said it was 24k but Tesla offered 11,500.

The only thing wrong you might do is to be taking $11,500 from Tesla in trade.

 

[AZKoby]

I got a similar Shitty offer. I have a beautiful 2 series BMW in pristine conditions. They offered my 3k less than the lowest trade in value on KBB

 

[empiredown]

Yours is in no way a ‘shifty’ offer. Yours is good business.

OP, on the other hand, DID get a crap offer. Like many of us did. I went to Carmax for a match. Still not what I wanted. Carvana beat everyone and, even without the tax break, we came out way ahead. Carvana ftw! (No affiliation, btw)

ß

 

[steve86]

I will shop the car around with Carvana and Car Max. Glad it was not just me. Thanks Guys!

 

[Fupresti]

My Tesla offer was 6k lower then Carvana.

it’s pretty clear Tesla isn’t interested in accepting trade ins unless you major pretty worthwhile for them to deal with it.

 

[Aikidoka]

Tesla and Carmax were about the same on my offer. Neither of them have any use for used cars now since people aren't buying. I sold mine to a friend for 50% more than Tesla's offer. Both my friend and I were happy because of the condition of the car.

 

[montreid]

Took delivery today. Tesla dropped tradin by $500 day before. Went to carmax and got $1100 higher 4400 vs 5500. Out the door in 1 hour and carmax was quite busy too....but efficient. Carvana came in at 5335 and more virtual experience.

Did touchless delivery today. Car dropped off in driveway and they left with all paperwork in glovebox. remote unlocked the car and attached the delivery unlock to Tesla app. Wow. sending in paperwork via fedex.

 

[cbaker619]

Tesla offered me 22k for my truck, which was better than CarMax. I ended up private party selling it for 36k.

I feel Tesla is no different than any other dealer when it comes to trade ins.

 

[AKTech.it]

Post it on Craigslist or FB Marketplace. Sold my truck for $17.5k when tesla offered $6500....carmax offered $14k

 

[disturbed932]

Took delivery today. Tesla dropped tradin by $500 day before. Went to carmax and got $1100 higher 4400 vs 5500. Out the door in 1 hour and carmax was quite busy too....but efficient. Carvana came in at 5335 and more virtual experience.

Did touchless delivery today. Car dropped off in driveway and they left with all paperwork in glovebox. remote unlocked the car and attached the delivery unlock to Tesla app. Wow. sending in paperwork via fedex.

Did you have to use the payment from CarMax the day before to complete delivery?

 

[Collier007]

Tesla is not in the business of selling or servicing used cars. I would expect their offers to reflect that, especially during a time where demand for used cars has plummeted.

 

[montreid]

@disturbed932 - no didn't need it to clear. Did chase deposit and had funds to pay ACH on Tesla app for the balance. Simple phone call to the local delivery, they removed the trade-in and it updated immediately.

@Collier007 - Carmax was plenty busy and lots of transactions ongoing. If anything, looks like the demand is up compared to new car sales. Tesla simply doesn't want to bother.

 

[sced06]

I got a much higher offer from KBB and Autonation

 

[Collier007]

@montreid that is good insights, thank you.

 

[LevelHeaded]

They offered me 17% lower than Vroom (haven’t checked Carmax yet).

Reached out directly to the Tesla appraiser that generated my quote. I got a response that essentially said they won’t match anything and said that I would “for sure get more money” selling elsewhere.

They certainly don’t want to be in the used car department at the moment!

 

[SarasotaGuy]

From all these comments, I think it is clear that Tesla’s car buyers are out to make a profit on those of us who trade. In the long run, I don’t think that alienating customers in this way will be a good business practice; they shouldn’t feel entitled to make money on ‘both ends.”