This appears to be the case for me on my 2020 M3LR with 17k miles, my initial offer was $49,400… this was on 7/18, so my offer hasn’t expired just yet but when I used Tesla’s trade in estimator it now says 39k-43k… in July it said 47k-51k and that’s when I got the $49,400 official offer. While this is annoying the user car market specially for EV’s actually hasn’t cooled off, at least not to justify a 20% drop in value. I just got an instant offer on driveway for 54.5k… which is roughly what I was getting with the initial trade-in of $49,400+5k in tax savings in my state. I’ve still got time with my EDD at 9/15-10/20 but if I have to I’ll pay off the balance on my loan and sell it to driveway just a bit of a hassle. I do wonder if Tesla dropped their trade in offers across the board by 20% or just M3’s/M3LR’s…