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Plaid Trade-in $83K WOW
- Thread starter haikaa
- Start date
Venom
Member
might be? I know my StateFarm did not have the model for the insurance. But this is Tesla, one should assume Tesla knows about their own cars..haha
ucmndd
Well-Known Member
Tesla has never been particularly interested in taking Teslas back on trade. They notoriously low-ball.
This one was only bid to $132k
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2021 Tesla Model S Plaid - 1,020 Horsepower, Yoke Steering Wheel, 22-Speaker Sound System, No Modifications
This 2021 Tesla Model S Plaid is for sale on Cars & Bids! Auction ends July 29 2021.
ev-now
Member
My guesses.
They want to sell new ones.
People don't go to Tesla for a used 2021.
And as others have said, Tesla trade-in prices have been really bad, for a really long time.
But, if you're happy with (effectively) $200K for your new one, they'd be happy to relieve you of it
The minute a car is registered, it becomes used, and the value drops. I understand times are crazy now, but when you buy/register a car, even if you sell it 5 minutes later it's still legally a used car. The old saying once you drive it off the lot the value plummets is true.
Better off selling it privately than trading in as well. Trading in to a dealer is easier, but they want to make as much money as possible when they sell it.
Better off selling it privately than trading in as well. Trading in to a dealer is easier, but they want to make as much money as possible when they sell it.
I won't disagree that Tesla doesn't want to get into the used car business. But, used cars do have some good margins. If you can offer someone instant cash to offload their car, a lot will take it immediately even if it's less than market value. Buy low, sell high.
This one was only bid to $132k
2021 Tesla Model S Plaid - 1,020 Horsepower, Yoke Steering Wheel, 22-Speaker Sound System, No Modifications
This 2021 Tesla Model S Plaid is for sale on Cars & Bids! Auction ends July 29 2021.carsandbids.com
I figured as much - People tend to strongly over value their possessions.
How's that 2015 P85D doing? The specs seem very similar to what I was considering in around 2016 and some days wish I'd bought that car.
studioloft
Gavin
You can't trust most of the market right now. My 2017 P100D Model X was totaled July 1st when it was hit by a distracted semi driver. I am still fighting with insurance over it. What we learned though is when you look at KBB or Edmonds they both report the car is worth $67-75k range. But when you look at Tesla's Used inventory on the Tesla website the least expensive one I could find was $113 (P100D, 22", FSD).
My valuation came in way under what I could buy another one for. I rejected the offer. What we determined though is these websites and insurance valuation software factor in depreciation as a standard mathematical equation. They do not factor in current market cash value.
My point being, take your source of your valuation into consideration.
My valuation came in way under what I could buy another one for. I rejected the offer. What we determined though is these websites and insurance valuation software factor in depreciation as a standard mathematical equation. They do not factor in current market cash value.
My point being, take your source of your valuation into consideration.
CapeOne
Active Member
Rather than rely just on guide books, insurance companies typically use cars currently available for sale or recently sold in your region to determine payout value. Additionally, depending on state, the payout could include sales tax and/or title and registration fees.
As far as Tesla inventory goes, they currently have a 2017 MX P100DL with 22" wheels, 6 seat, no FSD, 57k miles, 1 year additional warranty, clean history, etc. for $83,500. It looks like 2017 MX P100Ds on the market right now (nationwide) range in price from around $70k to $100k retail.
Negative. It’s a pretty interesting process I used to work for a company that did this. They basically research local market values using publications, websites and dealer inventory. If the car is rare or not often sold as part of their research they will call dealers and ask them hypothetically how much they would sell this car with these options on their lot for. They’ll give them gift cards and *sugar* for their time. The software is only used to triage time and estimate values at first notice of loss. Always ask for their comparable sand market research when getting your total loss valuation from the insurance company
i feel for whomever has to deal with ins companies an the valuation process. Its a HUGE pain in the ass. You quickly find out they are all in cahoots.
That said, Ive found that at least as of late? KBB's valuation seems to be spot on as it relates to true market value of used Tesla's right about now. Tesla is smoking crack for their listed used car prices lately
That said, Ive found that at least as of late? KBB's valuation seems to be spot on as it relates to true market value of used Tesla's right about now. Tesla is smoking crack for their listed used car prices lately
CapeOne
Active Member
Insurance companies are supposed to give payouts equal to what the customer would have to pay for a comparable car on the open market in their area. Since most people don't actually pay full retail, the value generally comes in somewhere between wholesale and retail. Additionally, the insurance company typically pays sales tax and/or title and registration fees depending on state law.
Some insurance companies also offer policies that "sweeten the deal" e.g., a payout value of a year newer model.
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