Selling VS Trading In - Details

[TexSam]

Sorry if this has been covered before but I hadn't seen it. When you decide to get some quotes from Carvana etc. (I seem to have found about 6-7 companies that do this) I was wondering how they determine the condition of the car you want to sell them. besides the obvious ones? For example the condition of the engine (has it just had the cam chains and fuel pump replaced under warranty), brakes (just replaced), tires (if they only have less than 2000 miles on them), overall paint & body condition? It appears from what I have read, they go by year, model, mileage and maybe a few pictures? Surely they need a way to verify the mechanical, visual condition of the car, don't they?

Thanks

 

[240vPlug]

Sorry if this has been covered before but I hadn't seen it. When you decide to get some quotes from Carvana etc. (I seem to have found about 6-7 companies that do this) I was wondering how they determine the condition of the car you want to sell them. besides the obvious ones? For example the condition of the engine (has it just had the cam chains and fuel pump replaced under warranty), brakes (just replaced), tires (if they only have less than 2000 miles on them), overall paint & body condition? It appears from what I have read, they go by year, model, mileage and maybe a few pictures? Surely they need a way to verify the mechanical, visual condition of the car, don't they?

Thanks

I don't have a lot of experience selling to companies like Carvana or vroom. I can tell you there will be fine print on the quotes they give you that say something along the lines of "subject to final inspection". Basically they are quoting you a best case scenario. When they take a closer look or inspect the vehicle they will deduct for things like worn tires, worn brakes, repainted panels, other excessive wear and tear, etc.

Here is a good example. About a year ago we took my wife's 2016 Honda Odyssey to a KBB dealer after getting a really good quote from KBB online. The dealer proceeded to deduct for tires, brakes, and she had a minor dent that was fixed 3 years prior they took off for. In all $3,000 was subtracted from the offer (about a 15% reduction).

Parts replaced under warranty like fuel pumps and similar mechanical items wouldn't be something I would think they take off for. In fact, many buyers might like the fact that the fuel pump was recently replaced since that should make it less likely they will need to replace it in the near future.

TLDR they always have a way out or to reduce the offer. See the fine print.

 

[RyanS]

While I was patiently waiting for my VIN/EDD, my trade-in value for my Lexus GX dropped by $3000 after the 3rd trade-in update. I was not happy about the change. I didn’t even add any miles, and Tesla just decided to drop the value. So on Sunday, I searched and tried several different online companies like Carvana, Vroom, and CarGurus, and their purchase value was less than Tesla’s value. Except for Shift. Shift quoted me $6000 + more.

I figured I got nothing to lose. Shift staff came to our house on the same day. Shift person inspected and test drove my car and deducted a few hundred dollars for big scratches and dings. The deduction was more than fair. It still came out $6000 higher than Tesla. I sold the car on the same day. The only catch was that I wouldn’t see the money in my bank for 3-4 days. My wife thought I was crazy to hand over the pink slip and keys to a guy without getting the money. Well… this morning, I just found the money sitting in my bank account. Yes, I would use Shift again.

Let me know if you want to go with Shift. I have a referral code that will get you $100 extra.

 

[Mateo83]

My trade in value dropped while waiting, so I just did the trade in at the time of pick up.

 

[turnbowm]

I had a good experience with Carvana, who was the highest bidder. On the designated day/time, the Carvana guy came to the house and inspected the car. Took a lot of pictures and did a brief test drive. I signed a few papers and handed him the title and he handed me the check for the full bid amount. Was surprised that he removed both license plates and handed them to me, explaining that it is standard Carvana procedure.

 

[heythecat]

Also had a great experience with Carvana. Did the KBB thing, which no local dealer would come within $4k of the quoted price of my 2021 Toyota Highlander (KBB said I should get about $42K). Waited a couple of months, and got offers from Vroom ($38K), Carmax ($42K) and Carvana ($45.5K). Obviously, the highest bidder wins.

Did everything online, and scheduling the appointment. The rep showed up, signed some paperwork, and handed me a check. Cleared the check within 24 hours. Weird times... paid about $44k for the Highlander new last year 2021. 11,000 miles later, we might have lost a couple grand in taxes.

Now we're just waiting for our delivery date for the MYSR.

 

[jtcamp]

I sold my car to carmax. It was a really quick online quote, I drove to the local carmax dealer near me, gave them my quote and remaining financing information, and within 30 minutes of them inspecting the vehicle and contacting their appraisers, they paid off the remaining finance balance on my account and handed me a check for the remaining amount from the quote. Best experience I had with selling a car. I also got more money than I paid for it 2 years ago lol

 

[kitt2000]

My trade in value dropped while waiting, so I just did the trade in at the time of pick up.

How does that work? On delivery day you just tell them you want to trade-in and they took it? Sorry I don’t think I have seen this type of transaction mentioned here (I am new here). Thanks.

 

[Mingw]

How does that work? On delivery day you just tell them you want to trade-in and they took it? Sorry I don’t think I have seen this type of transaction mentioned here (I am new here). Thanks.

a while before delivery Tesla will start asking whether you have a trade in. you fill in the information , upload several pictures, and within hours or couple of days Tesla will give you a value they offer.
then you can turn in the car to Tesla when taking delivery. I doubt you can just do this at time of picking up as the service center probably doesn't give you offer right away.

 

[RyanS]

How does that work? On delivery day you just tell them you want to trade-in and they took it? Sorry I don’t think I have seen this type of transaction mentioned here (I am new here). Thanks.

My trade in value dropped while waiting, so I just did the trade in at the time of pick up.

I don't get it. So... Tesla's trade-in value dropped while waiting but you just went ahead and trade-in your car (with dropped value) when you picked up your new Tesla? OK... I was going to do that also if I didn't have any options but I found another used car store willing to pay me more.

Or you removed your trade-in from Tesla order page because of the price drop but you did the trade-in at the time of pick up? And made more $$?

 

[Mateo83]

I don't get it. So... Tesla's trade-in value dropped while waiting but you just went ahead and trade-in your car (with dropped value) when you picked up your new Tesla? OK... I was going to do that also if I didn't have any options but I found another used car store willing to pay me more.

Or you removed your trade-in from Tesla order page because of the price drop but you did the trade-in at the time of pick up? And made more $$?

Values across the board went down. You should consider the effort if taking to a different "store", waiting, paperwork, then getting your new tesla.

 

[Mateo83]

How does that work? On delivery day you just tell them you want to trade-in and they took it? Sorry I don’t think I have seen this type of transaction mentioned here (I am new here). Thanks.

When I got a vin i asked chat to add trade in option back, they made an offer in about 72 hours. Drove it to the lot at pick up, took new model y home.

 

[astrid084]

While I was patiently waiting for my VIN/EDD, my trade-in value for my Lexus GX dropped by $3000 after the 3rd trade-in update. I was not happy about the change. I didn’t even add any miles, and Tesla just decided to drop the value. So on Sunday, I searched and tried several different online companies like Carvana, Vroom, and CarGurus, and their purchase value was less than Tesla’s value. Except for Shift. Shift quoted me $6000 + more.

I figured I got nothing to lose. Shift staff came to our house on the same day. Shift person inspected and test drove my car and deducted a few hundred dollars for big scratches and dings. The deduction was more than fair. It still came out $6000 higher than Tesla. I sold the car on the same day. The only catch was that I wouldn’t see the money in my bank for 3-4 days. My wife thought I was crazy to hand over the pink slip and keys to a guy without getting the money. Well… this morning, I just found the money sitting in my bank account. Yes, I would use Shift again.

Let me know if you want to go with Shift. I have a referral code that will get you $100 extra.

can i get your Shift referral code?

 

[RyanS]

I just PMed you.