Selling privately or trading in with Tesla?

[FloridaSun]

I have a 2021 Model Y LR AWD (delivery 5/27/21) and I love the car but I decided to step up to the Model X Plaid for the insane performance. (ordered 2 days ago). Now, I'm not sure if it would be better to wait to see what Tesla would give me for the car or sell it privately? Has anyone traded in a 2021 MY LR AWD lately? What config and miles? How much did Tesla offer?
I would save over $3k in sales tax if I'd trade in the car but not sure if Tesla would offer me anywhere close to what I can get privately.. I need at least $57k as trade in or $60k selling privately.. Private party value is $62k..
Thoughts? Experiences?
Any input appreciated!

 

[Maxw72]

Sell privately! It's more of a hassle and may take longer, but it more often than not delivers better results. I'm guessing you have a bit of a wait on your Plaid so you have time to sell and can be picky with who you sell too. I have a ICE car that I'm selling and because I don't owe anything on it, Tesla's fairly low trade in offer was never an option for me. Though it may be worth your time to check out selling to carvana or similar. I have seen/heard mix results on carvana. My mother in law checked selling two of her cars to them and got pretty low offers. Myself on the other hand was offered a lot for my current ICE car to the point that I probably will sell it to carvana once my MYP arrives.

This is the only perk to having to wait for our Tesla's. We are able to be picky and have time to sell current vehicles. Good luck!

 

[glide]

I have a 2021 Model Y LR AWD (delivery 5/27/21) and I love the car but I decided to step up to the Model X Plaid for the insane performance. (ordered 2 days ago). Now, I'm not sure if it would be better to wait to see what Tesla would give me for the car or sell it privately? Has anyone traded in a 2021 MY LR AWD lately? What config and miles? How much did Tesla offer?
I would save over $3k in sales tax if I'd trade in the car but not sure if Tesla would offer me anywhere close to what I can get privately.. I need at least $57k as trade in or $60k selling privately.. Private party value is $62k..
Thoughts? Experiences?
Any input appreciated!

Don’t even bother with Tesla. Sell privately or to a reputable 3rd party like Vroom or Carvana.

 

[FloridaSun]

Don’t even bother with Tesla. Sell privately or to a reputable 3rd party like Vroom or Carvana.

I don't think that Carvana will offer me more than $56k.. Privately I should be able to get $60k+
Facebook Marketplace is probably the best place to sell..

 

[Daekwan]

Another vote for FB marketplace.

What you really want is a local dealer, its a ton of them that now use that platform to purchase used cars instead of going to auctions. They will be straight up, no games, and pay off any existing loans. Got my highest offer on my previous vehicle that way. 2 days after we agreed on a price, they showed up to drive it away and left me with a check written by Bank of America.

 

[FloridaSun]

Another vote for FB marketplace.

What you really want is a local dealer, its a ton of them that now use that platform to purchase used cars instead of going to auctions. They will be straight up, no games, and pay off any existing loans. Got my highest offer on my previous vehicle that way. 2 days after we agreed on a price, they showed up to drive it away and left me with a check written by Bank of America.

I will check some local hogh end dealers.. thanks

 

[jeeperrs]

Tesla wanted to give a trade-in value on my 2020 Performance model 3 at 38,000 and I have a local offer for $53k. So, go private. KKB, Carfax, etc all say the car is worth 50k-54k. So, I was surprised Tesla offered such a low trade-in.

 

[Mateo83]

You have to weight the pros and cons on posting it for sale, doing test drives, going to the bank, waiting on the funds etc.

Tesla initially offered me $1,000 less than carvana. Ill eat that for the ease of just dropping it off.

 

[PackMan730]

Check out shift, carvanna, and I think there was one more.

I sold my cars to shift because they offered more than carvanna and CarMax.

 

[Mateo83]

Check out shift, carvanna, and I think there was one more.

I sold my cars to shift because they offered more than carvanna and CarMax.

Vroom

 

[Poprex911]

sell on facebook market place and use their Ad service did the same thing for my Camry hybrid XLE and got back my money from the Ad and 6k more then what trade in was offering.

 

[loanchau2k]

Hi guys, as for sale to private, how can you deal with 60K+ transaction . I assume you don't take cash or personal check for sure

 

[Fourdoor]

In my state you get credit for your private party sale on the sales tax of the new vehicle just like you do if you work it as a trade in... I didn't' know about this until I sold my old ICE car, just got lucky that I was within the time limit to use the sale price of the old car towards the purchase of my MYP... check the laws in your state you may be surprised!

Keith

 

[alignment guy]

sell privately through any channel for sure.......I just sold my 2021 Model 3 LR performance on Monday while waiting on my 2022 Model Y Performance............for $4800 MORE than I paid for it

 

[alignment guy]

sell privately by far......while awaiting my 2022 MY Perf, I sold my 2021 M3 Perf for $4800 over what I paid for it..........its a hot market

 

[FloridaSun]

In my state you get credit for your private party sale on the sales tax of the new vehicle just like you do if you work it as a trade in... I didn't' know about this until I sold my old ICE car, just got lucky that I was within the time limit to use the sale price of the old car towards the purchase of my MYP... check the laws in your state you may be surprised!

Keith

Whatever Tesla would give me for the car would reduce my sales tax.. However, I know that I can get over $60k if I sell privately.. So, Tesla would have to give me $57k for it to break even with a private sale but I doubt that they would offer me $57k.. My guess would be $53k - $54k but I'd like to hear from someone who recently got an trade in offer on a 2021 MY LR..

 

[FloridaSun]

Hi guys, as for sale to private, how can you deal with 60K+ transaction . I assume you don't take cash or personal check for sure

Buyer would have to send cashiers check or wire to Wells Fargo for payoff amount and another check for the difference to me. A few days later, the lien is released and I can request the paper title. Once I get it, I can sign the title and give it to the buyer.. Car is released to buyer as soon as LIENHOLDER confirms receipt of payoff.. Title is sent to buyer as soon as I have it. Cashiers check is fine for me as long as it's from a bank with a local branch.. Lot's of cashier check fraud..

 

[loanchau2k]

Buyer would have to send cashiers check or wire to Wells Fargo for payoff amount and another check for the difference to me. A few days later, the lien is released and I can request the paper title. Once I get it, I can sign the title and give it to the buyer.. Car is released to buyer as soon as LIENHOLDER confirms receipt of payoff.. Title is sent to buyer as soon as I have it. Cashiers check is fine for me as long as it's from a bank with a local branch.. Lot's of cashier check fraud..

Is the buyer willing to wait after they give you cashiers check? I don't sell expensive car, so I don't know. I only once sold my old car less than 9k, so we did transaction within 30mins. I am not sure if the buyer gives money but to wait for the car

 

[voxel]

Whatever Tesla would give me for the car would reduce my sales tax.. However, I know that I can get over $60k if I sell privately.. So, Tesla would have to give me $57k for it to break even with a private sale but I doubt that they would offer me $57k.. My guess would be $53k - $54k but I'd like to hear from someone who recently got an trade in offer on a 2021 MY LR..

Don’t bother with trading in your MYLR to Tesla. I submitted my brand new 2022 red/white MYLR as a trade in for a MYP (have since transferred it to somebody else) and got an offer for $51K.

 

[FloridaSun]

Is the buyer willing to wait after they give you cashiers check? I don't sell expensive car, so I don't know. I only once sold my old car less than 9k, so we did transaction within 30mins. I am not sure if the buyer gives money but to wait for the car

I personally prefer an in person transaction for the sale.. The buyer will know where I live, get a copy of my drivers license and be able to see that I'm not a fraudster. I personally would hand over the car and have the buyer wire the money to my lender OR give me a cashiers check made out to my lender for the payoff amount plus another cashiers check for the rest of the money. Cashiers check would have to come from a bank with a local branch so that it can be validated. The rest is just a formality. Once the lender releases the Lien, I'll request the paper title and sign it over to the buyer.. As I said, exchange of ID's, bank with local branch and it's all doable. A certain amount of trust on both sides is needed. That's why I prefer that the buyer is physically present for that so we can go together to the local branch of the buyers bank. Bill of sale written up etc.
In the worst case scenario, I have enough money available in my Home Equity Line of Credit to pay off the car.. I could just pay off the car and have the title in hand... All it would cost me would be a couple of days of 3.25% interest on that amount...