Lowballed on trade-in from Tesla

[jboy210]

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..

Not crazy when Tesla dropped the price of a new one $5,000. Makes buying a new one with larger battery and considerably better range (more efficient motors + bigger battery, etc) and new car warranty for $77K all that more attractive.

 

[brkaus]

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..

Crazy is a global pandemic with car sales dropping and the used market getting threatened by rental company bankruptcies.

 

[CapeOne]

Do you think I should just tell them to forget it and sell it on my own?

It's probably worth trying to sell on your own. I'd also suggest getting an appraisal from Carvana and CarMax.

You didn't mention some of the detals on your X (miles, number of seats, etc.) but Tesla currently has 2016 MX 75Ds with FSD ranging in price from $52,400 (53k miles) to $60,900 (13k miles).

 

[jimbo69ny]

I was quoted $63k for my 3 month old 2019 Raven X. I was pissed. I was having problems with it and looking to get away from it.

2 months later I tried again. It went down to $53k.

Assholes. Now, 9 months later it’s getting bought back. So thankful!!!!!

 

[MP3Mike]

Now, 9 months later it’s getting bought back. So thankful!!!!!

Good to hear. What are you planning to replace it with?

 

[jinla2020]

i believe that price reflects the price cut ($5000) to the new model X. i was sort of in the same boat when i was contemplating trading in my 2020 M3 for a Y... the value changed approximately ($2000) from my first trade-in to second trade-in offer. this was in 30 days.. with less than 300 miles difference.

 

[JohnMon]

Do you pay sales tax on a car purchase where you live? If so, keep in mind the tax savings that a trade in will get you.

 

[docboy]

I was quoted $63k for my 3 month old 2019 Raven X. I was pissed. I was having problems with it and looking to get away from it.

2 months later I tried again. It went down to $53k.

Assholes. Now, 9 months later it’s getting bought back. So thankful!!!!!

Sorry to hear. Can you share the problems you were having?

What are you replacing the X with? Another Tesla, or an ICE vehicle?

 

[Kesla]

Do you have a CarMax within your area? They should match what CarMax buyin would be. Also CarMax seems to be a little higher for me. When we got our MS (Dec2017) we went to CarMax the quote was good for 7 days. We did the same for the M3 in Dep2018.

Just a suggestion and you would get another price comparison.

 

[lariardo]

I had ordered a Model Y and had got and estimate from Tesla on trading in my 5 month old Model 3. It was insulting. Then the virus hit and no one was buying cars so I have not checked again. There are a couple of used car dealers in Denver that specialize in Teslas. I contacted them but they had been shut down by the state. They may be back in business now but now my income has gone to hell.

 

[LoloKahuna]

Tesla dropped the cost of a new X by $5,000. Seems logical that they would drop the value of trade ins.

 

[ram1901]

[QUOTE="johnschlemmer, 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?[/QUOTE]

Wish I could feel your pain, but I have never known anyone who ever thought that the trade in value given their car is high enough.
Frankly, the first quote seemed too high and you cannot base anything on Kelly Blue Book or Edmonds. They'll give you a ballpark but each market and each car have unique conditions that impact the 'trade in' value. If you are not happy with the price, try selling it yourself at the price you think you can get for the car. That whole process usually results in a rude awakening.

 

[Super_Popular]

I was having problems with it

Do tell....

 

[wyldtek]

I got lowballed on my S when I moved up to the X a few years ago. Carmax offered me thousands more so I sold the S to them

 

[RomeoT]

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?

No worry, the scumbag promised the car would appreciate to $100,000 soon, especially with vapor horseware FSD. Just hold it for five more years, it’ll all come back.