Lowballed on trade-in from Tesla

[johnschlemmer]

Hi there, I believe I’m getting lowballed on my Model X quote. I have a blue 75D, 2016 with AP2 and premium interior, full self driving purchased. I got quote about 40 days ago for $53,000. I thought that was a bit low but fair. Since my Model Y took longer to deliver than they promised, they “needed” to re-quote my trade-in for my X. They’re now quoting $45,000. I find it hard to believe my car depreciated to $45,000 in 40 days. KBB says an X with my features (not even including full self driving) is 50,000-57,000 trade in value. I feel completely baited and switched since they updated my trade in value. Anybody else experience this? Do you think I should just tell them to forget it and sell it on my own?

 

[flar]

They quoted you almost as much as they did for my newer P100D back in January. Something is off here...

 

[ModelNforNerd]

Hi there, I believe I’m getting lowballed on my Model X quote. I have a blue 75D, 2016 with AP2 and premium interior, full self driving purchased. I got quote about 40 days ago for $53,000. I thought that was a bit low but fair. Since my Model Y took long Er to deliver than they promised, they “needed” to re-quote my trade-in for my X. They’re not quoting $45,000. I find it hard to believe my car depreciated $45,000 in 40 days. KBB says an X with my features (not even including full self driving) is 50,000-57,000 trade in value. I feel completely baited and switched since they updated my trade in value. Anybody else experience this? Do you think I should just tell them to forget it and sell it on my own?

it sounds like maybe they're tipping their hand here.

they obviously know about something coming up that would likely affect their ability to sell it at a profit on the earlier quoted price.

 

[cypho]

Price seems high to me. I wouldn't be surprised if that is more than what it would cost Tesla to make a new 75D.

 

[ModelNforNerd]

it sounds like maybe they're tipping their hand here.

they obviously know about something coming up that would likely affect their ability to sell it at a profit on the earlier quoted price.

I'm going through the trade-in process now on a 2018 P3D stealth for a 2020 X Perf.

Just poking around on it last month, they gave me a trade-in estimate of $42,700. I'll let you know what the more detailed amount is later this week.

I suspect mine won't move much because there's not a lot of rumors about new 3 technology. I'm guessing there's something coming about the S and X.

 

[KentuckyX]

Hi there, I believe I’m getting lowballed on my Model X quote. I have a blue 75D, 2016 with AP2 and premium interior, full self driving purchased. I got quote about 40 days ago for $53,000. I thought that was a bit low but fair. Since my Model Y took long Er to deliver than they promised, they “needed” to re-quote my trade-in for my X. They’re not quoting $45,000. I find it hard to believe my car depreciated $45,000 in 40 days. KBB says an X with my features (not even including full self driving) is 50,000-57,000 trade in value. I feel completely baited and switched since they updated my trade in value. Anybody else experience this? Do you think I should just tell them to forget it and sell it on my own?

Considering it’s a 2016 75D, and considering what they’re selling for right now out of the used inventory stock, $53k seemed a little high to me. I got $35k trade-in for my 2018 Model 3 last week. It was a low VIN RWD w/FSD but 70k miles. I was happy with it. I’ve seen similar cars selling for $41k on the Tesla used website and I know they’ve got to make some money so I was okay with their offer. Carmax only offered $29. Carvana even less than that.

 

[ek993]

$45k trade in for a 2016 75D sounds very fair to me given how much a brand new LR costs these days. Continual price cuts by Tesla does nothing for residuals and on top of that don’t think the smaller battery versions are going to be all that popular when it comes to resale.

 

[Malexander]

This is not the first I have heard of this. I would be inclined to believe that since the economic forecast for car sales have declined significantly in the last couple months, it might lead to a 10% or more lower trade-in value.

 

[Super_Popular]

They have a lot of 75's for sale.

Tesla also offers wholesale prices like any other place that you trade cars in to.

 

[Hwood]

I would suggest to sell your own to Vroom or similar place. Try and get an appraisal from them then you can compare. I tried tread in my 17 Audi Q7 to Tesla for my MX, the price they got for me make my jaw drop. Then I went with Vroom, it got me pretty good deal and they came to my place pick it up, super easy. Maybe they tread in only Tesla will be better price than other brands, but still Tesla gave me impression that they will lowball for sure.

 

[EV bud]

I went through the exact situation/process as you. Quoted our 2017 X 75D a few months ago around $55K and a couple weeks ago it’s not worth $45K. My best guess is that the overall used car market has taken a massive his due to the pandemic. I ended up with 4 quotes from Tesla, Vroom, Carvana and Carmax. All in the mid $40k’s. I preferred not to do too much work and just trade it in, but instead posted it online and took a deposit and it’s being picked up this week by the buyer. The private party delta and the trade-in values are pretty far off from what I can tell so you’re likely better to sell if privately if you want more $$$.

Feel free to PM me if you have any questions. Good luck.

 

[ElectricSteve]

It comes to nobody's mind that the Corona Virus, that totally collapsed the car market in General, **might** have something to do with anything...
And also, who cares about a 2016 75er nowadays. Totally uninteresting from a re-sell point of view. Having is FSD v2 actually speaks against it because Tesla would have to upgrade the car to FSD3 to make the care more interesting (it will cost Tesla one way or another).
Sell it privately or send that car to the crusher (take out and recycle the batteries first of course).

 

[GeorgeC1]

There are numerous 2016 Model X’s being offered direct from Tesla at under 50,000. Expecting more than 45000 in trade would not be realistic and even 45 is probably high given the market.

 

[SSedan]

With the price cuts and range gains on newer versions I think used prices have stayed too high too long.

Given range improvement a 75 is at best what 2/3rds the range of a new 100D even before degradation. Plus it is 4 years old and base equipment has gotten better.
A Long Range Plus starts at $80k.
Yours is likely degraded into the 220s vs 351miles on the brand new faster with more standard options version. Why on earth would anyone pay $50k for a 4 year old X with 225miles of range?

 

[ithinkmac]

Got a quote for my '16 90D for $53k before the factory shutdown. End of March. So your $53k is a great price, the drop to $45k still seems reasonable given the current situation with used car market. I'm still waiting for my Y and see if they'll requote my trade-in. If it's anything lower than $50k, I'm going to skip the Model Y. Get a 2020 X Performance and sell the '16 X on my own.

-ThinkMac-

 

[MC00]

Just to provide another data point, I just purchased a 2017 Model S 100D. EAP, PUP, Pano Roof, UHF Sound, Subzero, 21” Grey Turbines. 28,200 miles. The seller stated that his trade-in offer dropped from $56,500 to $43,100 over the last three months.

 

[docboy]

There are numerous 2016 Model X’s being offered direct from Tesla at under 50,000. Expecting more than 45000 in trade would not be realistic and even 45 is probably high given the market.

Can you share link or zip code? All the used Model Xs I'm seeing online on Tesla's site start at $55k.

 

[docboy]

Just to provide another data point, I just purchased a 2017 Model S 100D. EAP, PUP, Pano Roof, UHF Sound, Subzero, 21” Grey Turbines. 28,200 miles. The seller stated that his trade-in offer dropped from $56,500 to $43,100 over the last three months.

How much did you pay if you don't me asking?

 

[theonetheonly]

Tesla appriased by 16 P90D MX 39K miles on it, 20 inch wheels for 55K at the end of Feb, got it appraised again last week and it’s now 43K - granted I have added 3K miles since that initial appraisal but 12K price drop in 3 months is a bit crazy..

 

[SSedan]

An new 351 mile range X starts at $80k today, maybe read that a few times till it sinks in.