Problems With Trade In Offer?

[Marty2020]

I had a trade in valuation from March but on Monday, June 15th, they asked for a photo of my odometer. I sent it right in and got the message that a Tesla Advisor would contact me within 24 hours when my valuation is complete. That was more than 5 days and 3 phone calls ago and I still can't find out what they're doing. An Advisor told me that a lot of customers were having the same problem.
My delivery is scheduled for June 27th and I still don't know if I have a reasonable price for a trade. Anyone have any more info on this? Until this week I was only terrified of the condition of the vehicle at delivery.

 

[jsargevt]

Right now, the trade in process is broken as far as I am concerned. In my case they were quick re re-evaluate it to be lower by a significant amount.

Honestly, I would assume they will not give you a reasonable price for a trade at this time. The advice given to me by my Advisor was to go to CarMax.

 

[Uncle Paul]

Used car pricing is a mess right now for everybody. Covid had disrupted the normal flow of used cars and pricing is all over the place.
Tesla is having a hard time valuing cars right now, so the best advice is to shop around and decide which offer you want to take.

Sometimes Tesla will blip up a higher than market price, but more often the error on the safe side and only offer a price they are sure to be able to get back in the wholesale market.

CarMax and Carvana are also easy places to get cash buyers. They give short time price gurantees as well.

 

[KenYoung1]

Had my trade-in revaluated 3 weeks ago, 30% drop in value from March. Schedule to pick up next week. Don't know if I should take the risk to have it revalue before the pickup or not.

 

[secondclaw]

Same issue - waiting for a week after i sent in new mileage photo

 

[SparkyTX]

The trade-in process is a mess right now. I was 6 days from picking up my car and Tesla needed to reevaluate my trade. This was after my delivery rep said we were all set and paperwork was signed. Now it had been well over the 30 days sine they gave me the original offer (that was low to start) but since they sent me the paperwork to sign with the original amount I thought it was still good. It wasn’t. They did it again and came back with a new offer that was a little lower. It was a mad scramble to get stuff done to insure I could pick up the car today. Then last night I get a call from my local delivery guy and he tells me they need to redo my trade. Turns out he wasn’t fully up on my account status and after making some calls, he called me back to say I could take delivery today.

My advice is that is if you can, avoid trading the car to Tesla. Their process and communication is horrible and anything to make the purchase simpler, the better. Tesla’s focus right now seems to be production and revenue focused and not focused on the customer or quality.

 

[LevelHeaded]

CarMax gave me 25% more than Tesla quoted

 

[KenMast3rs]

Carmax or Carvana is the way to go. I just sold my 3 SR+ to Carmax 3 days ago. Got about 25% more than Tesla.

 

[SarasotaGuy]

Manheim auto auction prices up 6.6% in June; you should expect Tesla to increase their offers for trade ins.

 

[hcdavis3]

CarMax gave me 25% more than Tesla quoted

Weird. Tesla gave me 25% more than Carvana

 

[beezy]

Got my quote offer from Tesla last week. I was disappointed so went to carmax and they offered over $1k more. Since I’m taking delivery this week didn’t have a lot of time to sit on it plus carmax only gives you 7 days. This forum has been saying for months to get an offer from a different source outside of Tesla. And they were right.

 

[Marty2020]

The problem is the Sales Tax. It's 7% in Florida and I lose about $1000 if Carmax offers me the same amount. If they are $1000 more, I break even so it's still easier to trade. My problem is that it's been a week and I'm now six days away from delivery and I still don't know if they're going to mess around with the original offer! Carvana offered me $500 less than Tesla's March offer. It's the not knowing that's getting on my nerves.

 

[Azlaneguy]

The trade-in process is a mess right now. I was 6 days from picking up my car and Tesla needed to reevaluate my trade. This was after my delivery rep said we were all set and paperwork was signed. Now it had been well over the 30 days sine they gave me the original offer (that was low to start) but since they sent me the paperwork to sign with the original amount I thought it was still good. It wasn’t. They did it again and came back with a new offer that was a little lower. It was a mad scramble to get stuff done to insure I could pick up the car today. Then last night I get a call from my local delivery guy and he tells me they need to redo my trade. Turns out he wasn’t fully up on my account status and after making some calls, he called me back to say I could take delivery today.

My advice is that is if you can, avoid trading the car to Tesla. Their process and communication is horrible and anything to make the purchase simpler, the better. Tesla’s focus right now seems to be production and revenue focused and not focused on the customer or quality.

Just a reminder that if you do a trade-in, you pay sales tax on the net from cost of MY less trade-in with Tesla. If you sell your trade-in 3rd party, you pay sales tax on entire cost of vehicle. You could save several thousand if you trade-in depending on your sales tax rate and what Tesla offers you, e.g. if MY costs $60K and Tesla trade-in is $20K, sales tax is paid on $40K instead of $60K w/o trade-in. So take that into consideration when making the decision.

 

[Xeux]

Just a reminder that if you do a trade-in, you pay sales tax on the net from cost of MY less trade-in with Tesla. If you sell your trade-in 3rd party, you pay sales tax on entire cost of vehicle. You could save several thousand if you trade-in depending on your sales tax rate and what Tesla offers you, e.g. if MY costs $60K and Tesla trade-in is $20K, sales tax is paid on $40K instead of $60K w/o trade-in. So take that into consideration when making the decision.

Depends on the state.

 

[SarasotaGuy]

I sold my vehicle and told Tesla to forget their “diddley squat” low-ball bid, $4k under Carmax, etc.

 

[oxtox]

Same. Carmax offered me 25% more than Tesla. If they're using that as a formula, it's brilliant! Done deal. FWIW, I also looked at ALgo. They came in sig less than Carmax.

 

[jdr93]

Had my trade-in revaluated 3 weeks ago, 30% drop in value from March. Schedule to pick up next week. Don't know if I should take the risk to have it revalue before the pickup or not.

i'm supposedly taking delivery one of these days. been waiting for over a month. tesla asked for a new photo of the dashboard (mileage) and after a four day wait they offered me 10% less than late april. so i put it on craigslist and sold it locally in one day. probably under priced but for what carmax had said, remotely, a month ago they thought it was worth.

 

[Marty2020]

Well, after calling for a week, today they finally updated my trade. Thirty-Five percent drop in three months!!!! I think that the message is that they don't want to take trades! I contacted Carvana and they upped their previous offer to the original Tesla offer (but without the Sales Tax break).

 

[ricebom]

Carmax gave me 20% more than Carvana and Shift. I didn't even try with Tesla based on all the posts.

 

[SarasotaGuy]

At their next quarterly call, I hope somebody asks Elon how much they make selling their average trade in...?