North Carolina Waiting Room

[Doit]

Carvana gave me a price $1100 more than my trade.. but the way tax works it ends up being a wash. From what I understand if the Tesla is $53K and my trade value is $13K, only the $40K gets taxed.
If I do a cash down payment instead, the entire $53K gets taxed...
So unless I'm getting at least $2-3K more, it is a wash. Am I correct?

With 3% flat sales tax rate, tax for $53k:
Without trade-in: $53k*3% = $1,590
With trade-in valued @$13k: (53k-13k)*3% = $1,200
So you'd pay $(1,590-1,200)= $390 less tax with trade-in.
Or simpler: you'd pay no tax on the trade-in value part, so $13k*3% = $390 less when trade-in.

In the meantime, you sell your car to Carvana for an extra of $1,100, that's a net gain of $1,100-$390 = $710. So, yep, you'll be $710 ahead by selling to Carvana.

In a nutshell, as long as the extra you'll get from Carvana or whoever other than Tesla is more than 3% of Tesla's trad-in offer, you are ahead.

 

[Wolfpacker83]

With 3% flat sales tax rate, tax for $53k:
Without trade-in: $53k*3% = $1,590
With trade-in valued @$13k: (53k-13k)*3% = $1,200
So you'd pay $(1,590-1,200)= $390 less tax with trade-in.
Or simpler: you'd pay no tax on the trade-in value part, so $13k*3% = $390 less when trade-in.

In the meantime, you sell your car to Carvana for an extra of $1,100, that's a net gain of $1,100-$390 = $710. So, yep, you'll be $710 ahead by selling to Carvana.

In a nutshell, as long as the extra you'll get from Carvana or whoever other than Tesla is more than 3% of Tesla's trad-in offer, you are ahead.

Thanks for the explanation. It seems like a no brainer for the extra $710.
I just wonder if it will affect my loan details and agreement since I set it up with the trade in. I guess as long as I showed up with the same amount of money as my trade-in equity, it wouldn't matter? I'd still have the extra $700 in pocket.

 

[Dcms18]

Just got a call from Tesla SC Raleigh they confirm the car is scheduled to arrive tomorrow and as long as everything is good on their inspection I will take delivery Wednesday morning

 

[Wolfpacker83]

Just got a call from Tesla SC Raleigh they confirm the car is scheduled to arrive tomorrow and as long as everything is good on their inspection I will take delivery Wednesday morning

Awesome news! Had you called them to confirm or did they call you unsolicited?

 

[orion2001]

With 3% flat sales tax rate, tax for $53k:
Without trade-in: $53k*3% = $1,590
With trade-in valued @$13k: (53k-13k)*3% = $1,200
So you'd pay $(1,590-1,200)= $390 less tax with trade-in.
Or simpler: you'd pay no tax on the trade-in value part, so $13k*3% = $390 less when trade-in.

In the meantime, you sell your car to Carvana for an extra of $1,100, that's a net gain of $1,100-$390 = $710. So, yep, you'll be $710 ahead by selling to Carvana.

In a nutshell, as long as the extra you'll get from Carvana or whoever other than Tesla is more than 3% of Tesla's trad-in offer, you are ahead.

This is all correct. Just wanted to add that when I spoke to my SA during my test-drive, she mentioned that they require you keep your insurance policy on the car for a fair chunk of time because they don't have someone going to the DMV all the time to process things. So depending on the delta in comparison to selling at a place like CarMax, etc., that might further reduce the net benefit of the reduced sales tax due to trade-in credit.

 

[Dcms18]

They

Awesome news! Had you called them to confirm or did they call you unsolicited?

They randomly called at around 430/5p i already had my schedule delivery date so they just confirm some of the details for the registration and also payment details, and they said unless they find something wrong with the car during inspection everything is set for Wednesday

 

[Gilzen]

Charlotte truck is late and has delayed my and other deliveries a couple of days now. Fingers crossed for later this week.

 

[ayang118]

Charlotte truck is late and has delayed my and other deliveries a couple of days now. Fingers crossed for later this week.

Do you happen to know when the truck was originally expected? Talking to them last week, my order was scheduled to arrive on the 18th. I'll assume there is more than one delivery though.

 

[Gilzen]

Do you happen to know when the truck was originally expected? Talking to them last week, my order was scheduled to arrive on the 18th. I'll assume there is more than one delivery though.

Not sure on details. Just know that my delivery was scheduled for the 15th and has been moved twice now to the 16th, and then to the 17th. I assume the truck was expected on the 13th or 14th to give them time to prep.

 

[Wolfpacker83]

They

They randomly called at around 430/5p i already had my schedule delivery date so they just confirm some of the details for the registration and also payment details, and they said unless they find something wrong with the car during inspection everything is set for Wednesday

When you are there on Wednesday, can you look for a MSM black interior with 19" wheels and VIN 199xxx? I guess my delivery is still scheduled for Thursday but I haven't heard anything since last week.

 

[Dcms18]

When you are there on Wednesday, can you look for a MSM black interior with 19" wheels and VIN 199xxx? I guess my delivery is still scheduled for Thursday but I haven't heard anything since last week.

Yeah sure I'll look and see if it's ther

 

[Dcms18]

When you are there on Wednesday, can you look for a MSM black interior with 19" wheels and VIN 199xxx? I guess my delivery is still scheduled for Thursday but I haven't heard anything since last week.

Hey man looked around the whole lot and I didn't see any other 199 MSM

 

[Wolfpacker83]

Hey man looked around the whole lot and I didn't see any other 199 MSM

Wow. and I just got a phone call from my SA to confirm pickup for tomorrow... Maybe it is arriving today on a truck.
Edit: I called back and they said it arrived last night. So it must've been in the back or something. Thanks for looking!

 

[Dcms18]

Wow. and I just got a phone call from my SA to confirm pickup for tomorrow... Maybe it is arriving today on a truck.
Edit: I called back and they said it arrived last night. So it must've been in the back or something. Thanks for looking!

It must have been in the inspection or detailing, i did notice more cars around the lot when I was pulling away well I picked up my car and found 2 issues that they fixed while I was there I'll post pictures and details

 

[Dcms18]

Okay fellas picked up my Y today, i found 2 issues before I pulled off the lot that they fix right there i waited maybe 45 mins but they were super busy, there were atleast 6 people there picking up cars.

I found an issue on the passager side trim around the door and the rear driver side window weather strip was coming down.

They first tried to clean the trim thinking it was just glue but it didn't come off they tried to paint over it but that didn't work either so they decide to go ahead and replace the whole piece tool them maybe 20mins to do that.

Here's the pictures

 

[Wolfpacker83]

Delivery still confirmed for tomorrow night. However, just got a call and they realized my current plates (I'm transferring) expire in July so they said I have to get an inspection and pay taxes on my current vehicle. So I'm doing that tonight or tomorrow morning.

 

[Dcms18]

Delivery still confirmed for tomorrow night. However, just got a call and they realized my current plates (I'm transferring) expire in July so they said I have to get an inspection and pay taxes on my current vehicle. So I'm doing that tonight or tomorrow morning.

Hope you get it tomorrow man, we just drove it to Charlotte in autopilot all the way here it was the smoothes most relax drive we done and we drove it during 5p traffic the car handle so well, and very impressive the way the car handle exits and merging over in self drive.

 

[dangwhofarted]

Talked to someone in Raleigh this afternoon. My MY is on site! Original EDD was June 10-15. Arrived last night apparently. Appointment scheduled for Friday afternoon.

VIN 198xxx

 

[Wolfpacker83]

Talked to someone in Raleigh this afternoon. My MY is on site! Original EDD was June 10-15. Arrived last night apparently. Appointment scheduled for Friday afternoon.

VIN 198xxx

Awesome! Ours was on the same truck then!

 

[Gilzen]

Got our new MY today. No real issues to speak of. Some silliness with our attempt to transfer the plate. Which didn't happen. So happy to have it finally.