(Purchasing / trade-in advise) Upgrade to 2021 LR from 2020 SR+?

[radicaldreamer]

Hi everyone, hope you can help me in my predicament.

I took delivery of a 2020 M3 SR+ back in Dec'19, currently have ~30K miles on it as I have driven it more than I should have, lol. The purchase price out of the door was about $39K before taxes and fees.

I decided to play around with the trade-in estimates if I were to purchase a 2021 LR AWD ($50K), and the estimate was about $38K to trade-in the SR+ directly to Tesla, which to me seems like a really good option to consider..? I am aware of the price increases throughout the year on the LR model so that would offset some of the benefit from that trade-in..

Also, my APR I was able to get at the time on the financing of the SR+ is 3.3% (I know ), so I think I should be able take advantage of the lower interest rates being offered at the moment when financing for the LR... Tesla's advertised rates are 2.49% on the website.

What do you guys think? Is there anyone who made traded in a financed SR+ to a LR recently and can offer some input? Considering how the used car market is now right now, does trading in / upgrading make sense or should I keep the SR+?

Pros/cons I can think of at the top of my head...

Pros:

- Longer range / faster charging obviously. I live in the SF bay area and the furthest I would travel out occasionally to is Sacramento / Central Valley for family, so the range would have a nice-to-have but not need-to-have.
- AWD, more grip and better acceleration
- 2021 models went through a refresh so would have the nice-to-have features that come with it (USB-C ports, wireless charging, power trunk, chrome delete, etc.)
- Warranty refresh as I am starting out with new vehicle. And LR model has a longer warranty on the battery.

Cons:

- Have to consider other charges and fees on the LR. For example, have to consider the sales tax on the LR. And I believe that in California, the trade-in does not reduce the amount of sales tax you owe on the new car..

Thanks in advance!

 

[metalblaze]

Hi OP - curious…what did you end up doing?

 

[Delraybeach]

I am thinking of the exact same thing. But, I’ll wait until I can get delivery after January 1st in case Congress passes the EV tax credit. Now I’m trying to think about how to sell my car after I order and near my estimated delivery date.

 

[jjrandorin]

Hi OP - curious…what did you end up doing?

There are a lot of threads here on this general topic. In another thread on this topic, I took a few minutes and did a search to identify a few for people to look at.

Here are some threads, but there are more (many more) if you search for "SR vs LR" or search terms like that.

SR+ vs LR AWD, buying advice

Hi folks, new here! I would really appreciate some advice to help me making the best choice. Here the reasons why I'm so undecided between these two: - around 15000km per year, 5-6 long trips x year (around 600km) - really like skiing so I was wondering if RW could be safe driving in the snow...

teslamotorsclub.com

Sr+ w/FSD vs Lr- FSD

first post here. Looking to buy a model 3 and from the last time I checked the site things have changed...again. Anyway. Besides the rear wheel vs all wheel difference (my current car is a rear wheel g80) what is the pro/con of the standard range plus with the fsd vs the long range without it...

teslamotorsclub.com

Used 2018 LR vs new 2019 SR+

Having a bit of back and forth on this question. I'm new to Model 3s but have had an S before. This would be a second car for my wife who is new to driving. I've tried to educate myself as best I can but I'm afraid of missing something. Newer seats? Premium interior worth it? And so on...

teslamotorsclub.com

Model 3: SR+ w/ FSD vs LR

So been saving for a while and it’s finally time to purchase my first Tesla. Basically I can comfortably purchase a SR+ with FSD or a LR without FSD (just the basic autopilot)... But both makes it a little tight. Although still doable. If you had to choose one of the two options which would...

teslamotorsclub.com

Help Me Decide SR+ vs MR VS LR RWD

I have been reading this forum last couple of months. Finally i am planning to pull the trigger on ordering a model 3. I need some help deciding what would be a better buy in long run. The pricing of each model is close enough for me start looking a level up. So i seriously starting looking...

teslamotorsclub.com

Model 3 LR vs SR

Posted this on reddit. Thought I’d get some feedback from here as well. Long time lurker here. I’ve been struggling with going with the SR or splurging and getting the LR. Thought I’d ask the question here to get some of your thoughts. I’m a day one reservation holder and will definitely get...

teslamotorsclub.com

M3 SR+ or LR AWD

Hi folks, I am looking to order a Model 3 and looking to get your advice on SR+ RWD vs LR AWD. My round trip commute is 45 miles. Wife's car is a minivan that I plan to use for long trips. In my understanding the charging for LR is 50% faster than that for SR+ when used with superchargers. Are...

teslamotorsclub.com

SR+ vs LR RWD. How much more pain on a long trip?

I'm still waiting on paperwork before I can trade in my current car for a Model 3. In a "money not an issue" scenario of course I'd go for long range. But my family wants to travel, and since the Model Y doesn't look like it's going to be the replacement for our Tiguan I thought it would, I've...

teslamotorsclub.com

How much do you value SR+ to LR (AWD) range upgrade?

I have been debating for a while whether I actually "Need" the LR model vs SR+. In my mind the SR+ represented a good value and the $9K upgrade cost to LR AWD seemed hard to justify. However, when I thought about how nice it would be to go to the mountains for skiing and not be as effected by...

teslamotorsclub.com

Performance vs Long Range vs SR+ (still undecided...)

Hello all, I thought I'd post a new thread on this topic even though the question has been asked many times. My dilemma: after waiting 4 months from order date to being allocated a hidden VIN I have had way too much time to toss up between the P3D+ I have on order vs the "more sensible" LR...

teslamotorsclub.com

Note, I find this type of response a lot more polite than other forums where people simply say "use search" even though I realize it amounts to the same thing, in the end.

 

[earthwormjim]

I was in essentially the same situation with my 2019 SR+, although slightly better off since I had $6750 in total government rebates bringing my total out the door cost after taxes and DMV fees at just a little above $38,000.

I sold my car to the local Infiniti dealer for $42,000. BMW dealer offered $40,000, carbuyersusa.com offered $40,050, Carmax $38,000, Autonation $38,600, cali cars $39,000. The car was a June 2019 build, and had 34,000 miles. I would not settle for $38,000, you can get more I bet since your car is newer than mine was. Check your local car dealers, they are absolutely desperate, and are buying anything to fill their lots. It is quite shocking to see how empty their lots are.

Now I patiently wait for delivery of my 2021 Model 3 performance, EDD is 10/22-11/01.

 

[Delraybeach]

This is great info about the local dealers. There are many around me here. Again, trying to prepare for selling my car, I found this website measuring battery health. Besides the lighter weight by 5 pounds each Enkei 19 inch wheels and the really great ceramic tint work, the battery condition should be a key piece of buying information- see attachment. Mine is a 2020 (August) M3 with under 12K miles and you sold yours a 2019 for $42K. OMG! Again, just waiting to make sure I get a 2022 delivery date just in case the EV tax credit passes.

 

[Two-rocks]

Crazy times with the used values.
My '21 SR+ will make a profit factoring all costs and taxes (7k miles, delivered in January).
Ordered the identical car, but LR.
Worst case is just under $3k delta (including all TTL etc.).
Best case is profit (local 2.5K rebate plus any federal possibilities).

Seems to be a no brainer decision. Only real concern is that our SR+ is perfect in all ways, and is in pristine condition.

 

[Delraybeach]

Just announced today on CNET that Tesla will be using the LFP batteries on the SR+ moving forward. It appears that the LFP battery wants and should be charged to 100% or 253 range miles. Don’t know when this will be fully implemented, but a SR+ with an LFP battery really raises its attractiveness. I’m still thinking that the $8K price difference between the LR and the SR+ even with the LFP battery will still make the LR more viable. Again, hoping Congress passes a provision for an EV tax credit, taking delivery of either model in early January or anytime in 2022 would be important.

 

[earthwormjim]

Again, hoping Congress passes a provision for an EV tax credit, taking delivery of either model in early January or anytime in 2022 would be important.

The current version of the bill in the Senate is retroactive to most of 2021 for the $7500 portion.

 

[Delraybeach]

Okay on the tax credit and thanks for that info. Since we are this close I might not take a chance and just wait for a January 2nd delivery. I’m also getting more interested in the LFP battery technology and it’s benefits over NCA, charging to 100% daily, battery longevity and better safety, but shorter range. In the end, I might just continue on with the LR and it’s extra range as I have been planning. With an $8K price difference compared to the SR+, the LR is probably a decent value.

 

[Two-rocks]

Check your trade in values again. Mine were from last week. Just checked/updated this am and they gained another $500+. Going to re-up Monday when the price increase for the SR+ just listed by Tesla sinks in.

The Model 3 mid tier price (LRAWD) is the same as the original order, but they have upped the price for several models across the product line.

 

[Delraybeach]

thanks. I am planning to market my SR+ to the many nearby dealers here. I also will look at Carmax and Carvanna. The trade in to Tesla could be valuable, since the sales tax here in Palm Beach County with FL state tax Totals 7%. So any Tesla trade in offer could be about 7% lower and still be a good deal. I assume I could sell my M3 in about 7-10 days. About the tax credit, what’s the betting wisdom it will be retroactive to cars purchased in 2021?

 

[raptor5244]

thanks. I am planning to market my SR+ to the many nearby dealers here. I also will look at Carmax and Carvanna. The trade in to Tesla could be valuable, since the sales tax here in Palm Beach County with FL state tax Totals 7%. So any Tesla trade in offer could be about 7% lower and still be a good deal. I assume I could sell my M3 in about 7-10 days. About the tax credit, what’s the betting wisdom it will be retroactive to cars purchased in 2021?

Tesla trade-ins are usually horrible compared to Carmax, Carvanna and Vroom. Carmax offered $5,500 more on my M3P than Telsa. Make sure you shop it.

 

[t.e.s.l.a_dude]

The current version of the bill in the Senate is retroactive to most of 2021 for the $7500 portion.

However, the House version is not clear if it is retroactive, hence, there is a chance that it might apply only for cars sold in 2022.

This is the current state:

 

[earthwormjim]

However, the House version is not clear if it is retroactive, hence, there is a chance that it might apply only for cars sold in 2022.

This is the current state:
View attachment 725729

Correct, however I would pay far more attention to the Senate version. The House only needs a majority, and it is extremely likely they will pass whatever the Senate passes, especially if the Senate is more generous in certain areas.

 

[napoleon1981]

I just sold my White Feb 2020 model 3 SR+ with 15k miles to Carvana for 43.1k (more then i paid for it). Couldn't pass up the opportunity and bought a M3P.

 

[Delraybeach]

Did you try local dealers and Carmax? how did you like the Carvanna experience? Thanks.

 

[bro1999]

Tesla trade-ins are usually horrible compared to Carmax, Carvanna and Vroom. Carmax offered $5,500 more on my M3P than Telsa. Make sure you shop it.

Carvana offered $8k more than Tesla did for my '21 SR+. LOL, NO.

 

[lawless116]

I’m seriously considering upgrading the 21 sr+ to LR with the market the way it is and the tax credit on the horizon. I’m only hesitant because I love my car and if they were to retro the credit to my purchase in July I could claim that credit and use for down payment upcoming taxes season or just keep mine and use that credit to pay towards my SR+. Decisions decisions. Guess I could place the $250 order and decide later. Worst case I’m out $250 in 6 months

 

[Two-rocks]

There will be no retro credit…