Recent trade-in experience?

[CarlThompson]

I sold my 4 year old 2018 Model 3 RWD LR with 30k miles just at the right time in the middle of December. I sold it to a local dealer for a whopping $47,000 and this morning I checked and they still haven't sold it and have lowered the price they are asking to $45,867... $1,133 less than they paid me for it!

I almost feel sorry for that dealer. But then I remember they have almost certainly stuck lots of other regular people with bad deals over the years and I don't feel bad anymore.

 

[citivolus]

Here's an update on my end: I received the Driveway paperwork yesterday. Completing it was very simple. I then dropped it off at a UPS location nearby and it was delivered to Driveway this morning. I let them know and hopefully should get the payment deposited in my account via ACH in the next few days. Very surprised so far how smoothly this has gone!

 

[lUtriaNt]

i finally got a call from the transport company after 7 days of receiving my funds in the bank and inintiatring the request to get the car picked up. they will be here around 10 am. sounds like there will be two people in a vehicle who will drive down from a city thats about an hour away from me. sounds like one of them will just drive the car back. ill report how that process turns out after they get here.

 

[PNWLeccy]

• 1/19 - Driveway sent estimate
• 1/19 - I responded with all required documentation (photo of registration, title, driver's license, odometer, loan info including 20-day payoff
• 1/20 - 'Tier 2' agent contacted me and let me know that paperwork would be sent out 1/27
• 1/28 - Received paperwork including bill of sale and DMV forms
• 1/28-1/30 - I repeatedly texted my contact and called Driveway (with no answer) to clarify a few questions I had about DMV forms before sending them back
• 1/30 - Finally received a response from my agent as he was out of office
• 1/31 - I sent out completed paperwork
• 2/1 - Driveway confirmed they received completed paperwork and informed me I will receive payment in 3-5 business days. Once I receive payment, I can arrange pickup of my vehicle with Driveway

Just to close the loop on my experience w/ Driveway:

• 2/3 - Auto Loan paid off and received remaining amount via ACH to bank account
• 2/11 - Received text with a link to Airtable form to share pickup time availability
• 2/14-2/18 - Many texts back and forth attempting to schedule pickup date/time
• 2/19 - Local BMW dealer came to the house, checked odometer, took pictures of the exterior, and drove away
• 2/22 - I still haven't removed the car from my Tesla account and see that it is still parked at the local BMW dealership that picked up the car

1 month from initial estimate to pickup is a long time. I was relieved to finally receive payment on 2/3 but couldn't believe it took them 16(!) days to retrieve the car. During that time, I had to keep it insured and felt uneasy about it being a liability but ultimately all worked out!

 

[lUtriaNt]

once they got the paperwork from me driveway insured the car that day. told me i could remove my ins. but i did not do that.

thanks for the follow up!

 

[James88]

I'm working with driveway now
Accepted their offer on 2/21 rep mentioned I will receive paperwork by 3/4

She said they are overloaded and my offer on my 2019 LR RWD w. 53k miles is locked in.

Still sweating a bit as I haven't signed final paperwork lol

 

[lUtriaNt]

its locked! the process will take time -- they finally picked up my car today 7 days after i made the setup, and they have a hub near me that's an hour away. two ladies picked it up. i signed her iphone which was the bill of sale. it was emailed to me and that was that. they did not check anything, the one girl just got in the car. she then hopped in the car and drove off. since it was a tesla i saw where they went and where it ended up. just now i removed it from my account. bittersweet...

but the process overall was straightforward once you get the paperwork started. i would not be worried about the offer. if you were honest about the cars condition you've nothing to worry about. just read my experiences and @citivolus to get a feel for the overall timeline.

 

[citivolus]

its locked! the process will take time -- they finally picked up my car today 7 days after i made the setup, and they have a hub near me that's an hour away. two ladies picked it up. i signed her iphone which was the bill of sale. it was emailed to me and that was that. they did not check anything, the one girl just got in the car. she then hopped in the car and drove off. since it was a tesla i saw where they went and where it ended up. just now i removed it from my account. bittersweet...

but the process overall was straightforward once you get the paperwork started. i would not be worried about the offer. if you were honest about the cars condition you've nothing to worry about. just read my experiences and @citivolus to get a feel for the overall timeline.

Agreed, I too kept thinking throughout this whole process with Driveway that it is too good to be true. On Tuesday they received the signed paperwork back from me and this morning I see the ACH payment in my bank account. I'm going to notify them today that we should schedule the pickup as it seems to take a while rather than waiting for the payment to clear in my account (usually 2-3 days). The best part of this is that their offer of $14,757 for my 2019 Mazda CX-5 was $2-3K higher than Carvana and Vroom. Their offer was good for 7 days and I "locked" in on the seventh day which they confirmed via email.

 

[citivolus]

The best part of this is that their offer of $14,757 for my 2019 Mazda CX-5 was $2-3K higher than Carvana and Vroom.

Sorry I meant my 2015 Mazda CX-5!

 

[TW14 9LF]

So I've been reading all of these threads about people trading in their current Model 3 and getting new ones, and getting amazingly high offers for their current vehicles. I thought, why not, if I can get a new Model 3 LR AWD for just a few grand over what I could get for my current car, let's go for it. Background: have a 2018 LR RWD, 18" wheels, no FSD (just basic Autopilot), standard interior, black exterior, 30,000 miles, no crashes or damage ever. Submitted a request to Carvana, and the offer was $33.5K. YIKES! Wasn't expecting it to be that low, so needless to say, no new Model 3 for me!! Didn't even bother trying other sites that do the same thing as Carvana, as unless I was offered something outrageous for my current car, it didn't make financial sense to trade. Maybe the used car market is softening quicker than I thought......

Probably better that way, anyhow......

Keith

 

[budygadi]

Yes, the used Tesla offers have come down significantly, especially for Model 3 (which are available in ~2 months if ordered new and if it is LR/P model)

 

[jamesxtxt]

my experience with price quotes, carvana was the lowest when I was selling / trade in my car.
carvana offered me $5500 for my 2013 honda accord with 155000 miles. While toyota offered $8500 and tesla offered me $8100.
I would try and see how much you can get if you go to dealerships. nothing harm in trying.. just a few hours wasted if they low ball you.

 

[chunkylover78]

They only offered 10.5k for my 2016 GT

 

[UncertainTimes]

Supply and demand or whatever

 

[Bigsakius]

Try kbb instant offer, albeit I didn’t use it for a tesla but for my raptor. Carvana offered $58k and guaranteed offer was $66k. Worked for me.

 

[citivolus]

I'm going to notify them today that we should schedule the pickup as it seems to take a while rather than waiting for the payment to clear in my account (usually 2-3 days).

Driveway responded "Please allow a couple of business days for the transport team to fit the vehicle into their routes!"

 

[lUtriaNt]

in my case it took a week. the hub is an hour away.

 

[Theraven]

I received a very competitive offer for my trade. ~ 1k over Carvana and others for a 2020 Corolla.
Maybe they are harder on certain trade in’s based on make/model.

 

[James88]

Anyone have a play by play on their Vroom experience? Most importantly anyone ever have vroom give them less money than what they were offered?

In their terms it states that they can change their offer if the condition of the vehicle is different.

 

[citivolus]

Driveway responded "Please allow a couple of business days for the transport team to fit the vehicle into their routes!"

They came to pick up my car this morning. No paperwork to exchange which was weird, but they did confirm the VIN number with me before seeing the car so I guess that makes them legit. Overall it was a great experience with Driveway!