Resale Value - 2015 60kwh w/Autopilot

[glh280]

I purchased my Tesla back in December of 2015. I am trying to determine realistically what it is worth. Tesla has offered $53k for trade-in and the Toyota dealer didn't know what to make of the car so they had their wholesaler give a price on the car of $50k trade-in. Has the car really lost $25k+ in 6 months? I realize the 60 kwh is no longer available, but it does have the autopilot. (We have almost 15k miles on the car)

What is the best way to sell the car, and what should I expect for it?

 

[Boourns]

Seems a bit low to me, too. Obviously you can plug it into KBB. There are several websites now that will give you instant offers on trade ins. Carvana and Peddle are two of them. There are also some that will email you an offer within a few hours if you send in pics and some basic information. I'm sure Florida is no different. As far as dealers, I'd try something other than Toyota. A used car dealer that specializes in higher end cars may offer you a better number.

 

[travwill]

What? They didn't make the 60 kWh in 2015, after about April. Any orders around February+ only had the 70D/70 version available at that time so definitely no 60s in December. I was ordering at that time.

 

[glh280]

Inventory purchase, but the car was manufactured in March 2015, so it is 1 year old and I am the first owner.

 

[valkeriefire]

Wish I could buy your car. I'd love to have a used 60kw large frunk autopilot S to drive to work and back, it's literally my dream car.

Unfortunately 60s are worth low 50s at best. Yours has autopilot which is rare and does add a lot of value. Unfortunately that more likely means a faster sale rather than more money in your pocket. I'd try private party sale before trading it in, but people aren't getting more than $53 for their used 60s (but those don't have autopilot), so Teslas trade-in value sounds fair to me.

 

[xav-]

If I may ask why are you selling?

 

[gavine]

My 2014 with 60kWh and 30K miles will be up for sale soon....just waiting for delivery of my Model X. I'm looking to get $50K for it. Selling a $50K car privately is a little scary though. Any suggestions on how to avoid scams?

 

[glh280]

I am entertaining the idea of cutting expenses. A $1k+ car payment is a big one.

 

[valkeriefire]

My 2014 with 60kWh and 30K miles will be up for sale soon....just waiting for delivery of my Model X. I'm looking to get $50K for it. Selling a $50K car privately is a little scary though. Any suggestions on how to avoid scams?

Sell on Craigslist. List everything about the car truthfully. List price for full KBB value. State the sale will be completed at a bank of buyers choice and require that you be there in person when the bank cuts the cashiers check. Then you know the check is real and not fake. It's the only way to be safe. I just did it this week with our Sienna van. The buyer understood why I was doing it and had no problems. It makes sense, anyone who won't meet you at the bank and let you watch the check be cut isn't a buyer you want to deal with.

The more info you put about the car in the add, the fewer dumb questions you'll have to answer later. Plus if you require meeting at the bank, scammers probably won't even mess with you. Under no circumstances ever ship the car or accept a check you didn't see come from the bank. Cash is ok if you check it but who's going to bring $50k in cash. Many buyers will be financing so you'll have to do the deal at the bank regardless.

 

[xav-]

Glh280, where are you based?

 

[glh280]

Florida, Tampa area.

 

[182RG]

Any suggestions on how to avoid scams?

As a seller, my biggest concern is getting funds from the buyer.

When I've sold in the past, I've always had clear title (paper). Create a "Bill of Sale" using any one of many available templates on-line for your state. Ask to see Photo ID of the buyer to get name and address to copy on to the bill. Normally we meet at my bank (Wells Fargo) during regular bank business hours, and they either provide a cashiers check verifiable by Wells Fargo, or wire transfer the funds into my account. (Just because it says 'Cashiers Check', doesn't mean it's real).

Once the funds are verified, I sign both copies of the "Bill of Sale", have the buyer sign both copies of the "Bill of Sale", sign over the title document, remove my tags, and hand over the keys. (Don't let the buyer "borrow" you tags. In my state, it's illegal) Then, notify your insurance company, DMV, and your locality (if you pay personal property taxes on vehicles) that the vehicle has been sold.

I keep an Excel spreadsheet detailing all of the maintenance/repairs performed on the vehicle either by me, the dealership, or a 3rd party mechanic, down to oil changes and tire rotations. I scan all receipts for parts and maintenance supplies, invoices for work. I print all of these and hand them over to the buyer.

Also, have all paperwork necessary to transfer warranties, service plans, etc. available to hand over to the buyer. Research what you need to do in advance. Do them a favor.

Under no circumstances do you let the buyer take possession of the vehicle until the above is completed. DO NOT agree to ship a car to anyone, whether you coordinate, or they offer to coordinate. Big scams exist around fake shipping companies, and fake funds. Last buyer I had out of state flew into the closest airport, and I picked him up and conducted the transaction as listed above. He drove it home to Texas.

If you don't have clear title (bank payoff), then it gets complicated, unless the financing is at the bank you are conducting the transaction, and you can get the buyer proof of payoff. You might want to use an escrow service (Escrow.com), like eBay recommends.

Wherever you list your car online (I use Cars.com), you will get fake, scam text messages and phone calls almost immediately. Someone is always scouring the list looking for new suckers.

Good Luck!

 

[valkeriefire]

^^^^ This. Well said. Pretty much exactly as I do it but better explained. Keeping good records and good care of the car pays dividends on resale. A good buyer will realize the value and be willing to pay.

 

[Chickenlittle]

I purchased my Tesla back in December of 2015. I am trying to determine realistically what it is worth. Tesla has offered $53k for trade-in and the Toyota dealer didn't know what to make of the car so they had their wholesaler give a price on the car of $50k trade-in. Has the car really lost $25k+ in 6 months? I realize the 60 kwh is no longer available, but it does have the autopilot. (We have almost 15k miles on the car)

What is the best way to sell the car, and what should I expect for it?

Selling a car less than a year after purchase guaranties your largest percentage loss. You could try to sell retail though shift if they are in your area. They take small commission I think about 2% and advertise it for you. With warrantee almost same duration you should do well. Consider going to the CPO site and price just less than those offered directly from tesla. You don't have any hassles of going it on your own. Good luck

 

[Superloud]

Are you factoring in the federal tax credit and any state rebates into your losses? I think most buyers subtract those benefits off the new msrp when deciding to buy used

 

[calisnow]

How many miles does the car have?

 

[glh280]

Just under 15k miles. I have included the tax credit in losses. FL does not have any state specific incentives. Sales tax was a completely different issue, and also not expected to pass on, though it did cost me about $4k.

 

[calisnow]

I have quite a bit of experience selling my own cars over the years. The bottom line is you will get thousands more selling it yourself - but it is work and you have to be willing to deal with dozens of phone calls, lots of tire kickers - you need patience. In the end you will do better selling it yourself. Is it worth it to you? Nobody else can answer that question except you.

 

[calisnow]

Also - remind me what the tech package with autopilot was? Is that equivalent to the premium package + autopilot now? Do you have the power liftgate?

 

[calisnow]

My guesstimate is you could get $58-$60K private party. Blue Book is usually a worthless guide - I have no idea what Bluebook is. But I have sold at least 4 "hot" used cars well over KBB value - from a Landcruiser to a Supra twin turbo, to an M3 and a 300ZX.

The Tesla is a very hot car, especially with autopilot.

Instructions:

1 - Get it detailed to the max, and get any cosmetic imperfections fixed (ie paint clayed, buffed,waxed, any scratches touched up professionall- any curb rash? get it fixed).
2 - Take very high quality photographs
3 - Go set up a super cheap website with a place like Squarespace and load up your pictures
4 - Place ads online in multiple venues. This includes Craigslist, autotrader, forums and ebay if you want to spend the money.
5 - If you don't want people knowing your phone # then get an internet phone from a place like 8X8 temporarily.

List it in the low $60K range and be prepared to negotiate to whatever your bottom line price is.

Selling cars like this is not easy, it does take time - but you will get maximum dollar.