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Non-Tesla Trade Ins

Discussion in 'Model 3' started by setheryb, Apr 28, 2016.

  1. setheryb

    setheryb Model ☰ Reserved

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    Has anyone traded in a vehicle when purchasing their Tesla? Do they provide good value for the trade in?

    I'm debating whether to do this when getting my model 3 or just selling my current VW privately/myself.
     
  2. Dan Detweiler

    Dan Detweiler Member

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    I have not, but Tesla's own Web site suggests you sell your trade privately. While they will take trades they can't typically offer what an individual can get privately.
     
  3. Boourns

    Boourns Member

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    I think they are fairly well known for low balling trade ins. They have no interest in selling your ICE, so they just dump them off to auctions/wholesalers. The only advantage that I see is possibly saving on sales tax, i.e. entire purchase price of the Tesla versus difference in Tesla and trade in.
     
  4. mspohr

    mspohr Active Member

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    Tesla does not have a used car lot like other dealers so does not have any way to make extra money on trade-ins. Any non-Tesla it takes in trade is sold wholesale. They will take trades but don't usually give top dollar. You will most likely get a better price selling private party. Some people have used CarMax but my experience has been that they don't offer very good prices.
     
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  5. N5329K

    N5329K Member

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    If it's one of those VW's, you'll do better selling it back to VW.
    Robin
     
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  6. plankeye

    plankeye That Vegan EV Guy

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    You're always going to get more selling it yourself. it doesn't matter what dealership you go to, you always get less as a trade-in. That's why KBB and Edmunds give different valuations depending on if you will trade your car in or sell it private party.

    Now, Tesla might give even less than any traditional dealership, that's a different story. If so, it is most likely for the reason already mentioned, they don't sell used cars, and therefore have to buy very low to make any money when they sell to a wholesaler.

    You always have to do the math to determine if you can make enough selling private party to make up the difference in the sales tax loss. Of course that assumes that you can sell if for what you think you can.
     
  7. Scott Wilcox

    Scott Wilcox Member

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    It depends on what you have but I had good luck with selling through Pedal.com. I live in Missouri and had a Ford Escape with a dead transmission. The local offers were only $500. On Pedal they sold it to someone in Texas and I received $1700. I would say 99% of the time you get more selling it yourself.
     
  8. Dan Detweiler

    Dan Detweiler Member

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  9. ohmman

    ohmman Maximum Plaid Member

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    Tesla is very low even compared to the other wholesaler/trade-ins. I don't think they care to have that as part of their business model, so it has to be really worth it.

    Some numerical data on my recent offer for a 2013 Honda Odyssey Touring (as a trade in for the X):

    KBB trade-in value: $26,500-27,500
    KBB private party value: $28,500-29,950
    Tesla's offer: $24,000
    Local dealer's cash offer: $26,000
    CarMax offer: $27,000
     
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  10. plankeye

    plankeye That Vegan EV Guy

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    Yep, that exactly backs up what I said. They don't want to mess with it, therefore they have to really go low to get anything out of it when they wholesale it.
     
  11. Zaphod

    Zaphod Galaxy President (former)

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    They do offer as a service, but as others have stated, don't expect a stellar offer. One thing to consider though is that even with a lower offer from Tesla it might be better. Why you ask? Well the trade-in will reduce the sales price which will lower your sales tax. Unless your state has exemptions for tax on vehicles, this might work out better.

    Other option is to sell it to CarMax or personal sale, but that can be a hassle which may not be worth a couple extra hundred dollars.
     
  12. ohmman

    ohmman Maximum Plaid Member

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    There are many states that do not net the trade-in with regard to sales tax. California is one of them. Sales tax still applies on the full price of the Tesla.

    I lived in Austin for 20 years, so I know Texas is a state that allows you to net the price before charging sales tax.
     
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  13. Scott Wilcox

    Scott Wilcox Member

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    Missouri lets you net the price for sales tax as well. You can actually sell the car I think 6 months or maybe even a year before you buy a different one and still use it to reduce the sales tax with a bill of sale.
     
  14. Xaff

    Xaff Member

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    Um, that's a workout class website.
     
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  15. setheryb

    setheryb Model ☰ Reserved

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    I live in Washington and we have no sales tax on EVs for base models up to $35k WA state extends sales tax exemption to include "mid-level" Tesla model 3 | Tesla Motors So trade-in for sales tax not really beneficial.

    It isn't one of those VW's (as far as I know) I didn't opt for the TDI back then. I'm currently in a 2011 Tiguan. I want to use what I can get from this vehicle to essentially pay for some/all of the options I might want.

    I appreciate the feedback and any suggestions or successes you've had in selling your ICE cars
     
  16. ModelNforNerd

    ModelNforNerd Active Member

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    I don't have the extra room to have a non-plated car sitting around, so I'm thinking I'll probably be doing a little plate switcheroo the 1st few days to get the ICE over to CarMax. While I don't have the room, I'm at least in the good position of not needing the proceeds from the ICE sale to pay for the Model 3. Totally separate. The ICE money will fund the aftermarket tint of my Model 3 though. That's about it.
     
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  17. ModelZ

    ModelZ Member

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    Carvana gave me a pretty decent price for my Jeep (+$3,500 more than Tesla, Carmax, and even the dealer I bought the car from).

    Cut me a check on the spot.
     
  18. telero

    telero Member

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    Peddle.com
     
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  19. Boourns

    Boourns Member

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    I will add my experience since I just got back some numbers today.

    I am trading in a 2014 Mazda3. It is low mileage, but I was in an accident last October, and it took about $11k worth of repairs. Tesla just offered $8k. After we got the car back from the shop last November, I shopped around a bit to see what it was worth, and was getting offers between $13k (Carmax) and $14,500 (Vroom). So presuming it lost $500 or so of value in the intervening 6 months (no other accidents or issues), Tesla was about $4k lower than others.
     
  20. herbvdh

    herbvdh Member

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    When I worked with them on a trade in it was back in November 2015 Tesla offered me $6,000 on a 2006 Lexus RX400h with 140,??? miles. It needed a new radiator and some front suspension bar. I found KBB at $8,000. I had been watching the value on-line for awhile and last I had was $7,???... I offered it to someone at $7,000 they accepted the rest is history.
     

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