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Significant increase in trade in value of my current ICE from Tesla

raptor5244

Active Member
May 10, 2019
1,436
1,091
Florida
I’m not sure what the point of your post was. The resale is good on all Teslas and all Model 3 trim. Have some appreciated more relative to their original purchase price? YES. My M3P will still be worth as much as any LR in 3 years with similar options and miles. Since I didn’t pay new price it will be even better. Had I paid new price at $58,000 it would still have very low depreciation.
My point was that in a “normal” market the Tesla M3P depreciated about $15k after 2 years with only 7k miles, while an LR depreciated less than half that amount.

It is no surprise, purchasing the loaded trim of any car you should expect to get less of a return on those features. For comparison our 2019 SR+ with more than triple the miles is worth $4k more than we paid for it right now But the lowest I have seen it go so far was around $34k.

Keep in mind that these cars are not that unique anymore, they are mass produced and production numbers will only increase more and more as new production plants are brought online. Batteries will continue to degrade. For example, our 2 year old SR+ with 26k miles already has 18% battery degradation and has never been supercharged. As the miles climb and folks get closer to that 8 year or 100k mike mark the value will plummet by the $12-15k cost to replace a battery. Why buy my 2019 SR+ that now gets less than 178 miles at 90% charge when you can buy a new one that gets over 260 miles of range and welcomes 100% charge levels and new warranty?
 

raptor5244

Active Member
May 10, 2019
1,436
1,091
Florida
No the LR is not as fast as the MP3 after 60. Sorry it’s not. It also doesn’t have track mode. The LR is not much slower though.

This is pretty common knowledge at this point. Don't take my word for it. In this particular test the LR is actually faster at higher speeds.


If you track your M3P then yes Track Mode is worth all the extra money because you will hate tracking this car without being able to relax all the software nanny controls.
 
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ArchEtech

Member
Nov 22, 2021
133
76
Iowa
I have never seen a Model 3 P for $45,000 ever. Maybe 2 years ago? I wish I would have know that, if true I would have traded my Panamera Turbo!

Not even with 50,000 miles had I seen $45k when I was looking. I had seen a couple under 50 with an accident. You’re correct though that top trim models always depreciate more because you don’t get as much of your money back on trim options. That’s true on all my previous German cars for sure!


I’ve raced LR on the highway and walked all of them so…..truth be told I am very meticulous about warming up the car, staying in optimal SOC, preconditioning the batter before a drive etc, to make sure it’s always as fast as it can be. That probably is a factor.

I would imagine that car to car, state of charge, model year, the config you actually get from the manf (which seems to vary) there is a lot of variation when the performance of both trims to so it’s going to be close. The p trim has more HP by the numbers. It has to go somewhere. Maybe there are a lot of inconstancy between cars.

I don’t race really but I’ve done a couple 40-70mph pulls (without breaking the speed limit) on the highway against 3 different LR and pulled every time. 2 of them I know for a fact had the speed boost.

If the LR makes up a little difference at speeds that no one actually drives, not only is it slightly irrelevant, but due to differences in SOC and car to car, one YouTube video isn’t really all that convincing to me. It does reinforce that they are very close. I have yet to see a dyno that shows a LR making more power than a P.

Not that a dyno is the be all end all, but every head to head dyno I’ve seen the P is making a significant amount of additional power at full SOC. You’re correct though that the difference after the speed boost upgrade makes them very close. I guess not really worth arguing over and splitting hairs.

It would be very interesting to have a dyno day, and have several cars at equal SOC do runs and see variation between them, how battery health effects this etc. that’s getting way into the weeds that is way above me on how the precisely analyze, but it would be interesting information.
 
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raptor5244

Active Member
May 10, 2019
1,436
1,091
Florida
I have never seen a Model 3 P for $45,000 ever. Maybe 2 years ago? I wish I would have know that, if true I would have traded my Panamera Turbo!

Not even with 50,000 miles had I seen $45k when I was looking. I had seen a couple under 50 with an accident. You’re correct though that top trim models always depreciate more because you don’t get as much of your money back on trim options. That’s true on all my previous German cars for sure!

Yeah, the figures I am quoting were trade-in values at Carvana, Carmax and Vroom. This was about 9-10 months ago before the supply chain shortages kicked into high gear. The prices vary a bit depending on the market your are in. I kept hitting Carvana and Vroom each month and it would go up another $500, then $1000, then $2000. Once it reached $48k I went to Carmax to see what they would offer and they came back with the same so I sold to them so I could get paid on the spot. I am thinking if I waiting a little longer I they would have paid maybe $50k now, which means a Carmax customer is paying $54-55k or more plus dealer fees, which I think is crazy considering you can buy a new one for delivery next month?

Screen Shot 2021-11-26 at 12.49.03 PM.png



I’ve raced LR on the highway and walked all of them so…..truth be told I am very meticulous about warming up the car, staying in optimal SOC, preconditioning the batter before a drive etc, to make sure it’s always as fast as it can be. That probably is a factor.

I would imagine that car to car, state of charge, model year, the config you actually get from the manf (which seems to vary) there is a lot of variation when the performance of both trims to so it’s going to be close. The p trim has more HP by the numbers. It has to go somewhere. Maybe there are a lot of inconstancy between cars.

I don’t race really but I’ve done a couple 40-70mph pulls (without breaking the speed limit) on the highway against 3 different LR and pulled every time. 2 of them I know for a fact had the speed boost.

If the LR makes up a little difference at speeds that no one actually drives, not only is it slightly irrelevant, but due to differences in SOC and car to car, one YouTube video isn’t really all that convincing to me. It does reinforce that they are very close. I have yet to see a dyno that shows a LR making more power than a P.

SoC will absolutely makes a significant difference. Here is a dyno test showing a 64hp difference between 75% and 45% SoC. Don't get me wrong the M3P still feels quick even at lower SoC but this is one of the areas where performance EVs need improvement. Yes, 40-70mph the M3P is still bursts ahead, it is that 60-70mph pull where they are about the same, making the highway passing performance equal. Also, here is a link to dyno testing a M3P at various SoCs.



Screen Shot 2021-11-26 at 1.10.53 PM.png


Here is another good video comparing the cars.

 

raptor5244

Active Member
May 10, 2019
1,436
1,091
Florida
Since Tesla is supply constrained, I doubt prices will drop if/when the tax credit hits.
It's more likely they will simply keep increasing price to keep backlog under 6-8 months.
Agreed but on certain models. The Tesla website says the M3P is available for Dec delivery. The M3P is also too expensive for the proposed tax credit limit of $55k sedans.

This is the case across the whole auto industry. Toyota dealers in my area are adding $5k ADM to Corollas and they are selling everyone they get in inventory. Crazy.
 
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I just got Tesla's offer on my 2018 Audi RS3 trade for a M3 LR due in Feb/Mar. Their offer is about $3k less than the low end of KBB trade-in value (which is what Carvana has offered). Has anyone succeeded in challenging Tesla on offers that are well below the low end of KBB? If so, is it best to do on line (or phone) or in person at Dealership. My closest dealership is 100 miles away.
 

raptor5244

Active Member
May 10, 2019
1,436
1,091
Florida
I just got Tesla's offer on my 2018 Audi RS3 trade for a M3 LR due in Feb/Mar. Their offer is about $3k less than the low end of KBB trade-in value (which is what Carvana has offered). Has anyone succeeded in challenging Tesla on offers that are well below the low end of KBB? If so, is it best to do on line (or phone) or in person at Dealership. My closest dealership is 100 miles away.
Some folks get an offer from Carmax and others and then show it to the Tesla rep to see if they will match it. Try Vroom as well.
 

T3SLAROD

Active Member
May 14, 2019
1,032
1,022
SoCal
I just got Tesla's offer on my 2018 Audi RS3 trade for a M3 LR due in Feb/Mar. Their offer is about $3k less than the low end of KBB trade-in value (which is what Carvana has offered). Has anyone succeeded in challenging Tesla on offers that are well below the low end of KBB? If so, is it best to do on line (or phone) or in person at Dealership. My closest dealership is 100 miles away.

They won't match it. They stopped matching about a year ago. I will say I received $2k more once they requested pictures and registration for the trade in.
 
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wooi

Member
Jul 7, 2021
5
0
St. Louis
I was pleseantly suprised too by the trade-in offer I have received. They offered $60,700 on an X5 that I have just traded it in to a BMW dealer for $62k. They used to really lowball with their trade-in offers and looks like they now might be within couple of percentage points with the highest offers.
When was this if you don't mind me asking? I have a MYLR expected delivery at the end of this month and I have a Kia Telluride that I got a good offer from Carvana. If Tesla were to offer anything remotely close to that number then I know what I'll be doing.
 
They won't match it. They stopped matching about a year ago. I will say I received $2k more once they requested pictures and registration for the trade in.
I talked to a rep today and he said they solicit pricing from nearby dealers and base their offer on that pricing. They don't use KBB or Carvana as guides apparently. It was basically a take it or leave it attitude. He did add that they would review the offer again when the car is ready for delivery (currently estimated Feb 16-Mar 16), at which time it could change due to additional miles, changed market, etc. I'll take a shot at selling privately over the next month or so, at a price that would have to match their offer plus the associated tax benefit.
 

Renoir

Member
Nov 1, 2021
30
33
New york
I’m trading my RAV4 in today for a M3 long range, Tesla’s offer came in $2,200 higher than Carvana, who’s offer was higher than Carmax. Interestingly after I submitted the vin to Tesla, and received the offer, I received an email from CARFAX with a value and service report, and the value given by CARFAX was the exact offer I received from Tesla.
 
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goin2drt

Member
Nov 25, 2021
138
196
Kentucky
We do not have a VIN and are still almost 6-8 weeks away but I checked all the places on our trade in.

About 10 days ago I did them all. Vroom was the highest at 28700 and Tesla was the lowest at 26100. Obviously there would be a little tax savings trading into Tesla but not enough to fest that difference.
Then just yesterday I did the three majors again. This time Carvana was the highest at 29800 and Carmax was the lowest with Vroom in the middle. Crazy how they fluctuate in 10 days. I actually even added 1k miles more on the latest ones yet they went up.

Message here is check often. Only thing now is decide when to pull the trigger if you have some time like us. We are fortunate to have a spare car so we may pull the trigger soon.
 
We do not have a VIN and are still almost 6-8 weeks away but I checked all the places on our trade in.

About 10 days ago I did them all. Vroom was the highest at 28700 and Tesla was the lowest at 26100. Obviously there would be a little tax savings trading into Tesla but not enough to fest that difference.
Then just yesterday I did the three majors again. This time Carvana was the highest at 29800 and Carmax was the lowest with Vroom in the middle. Crazy how they fluctuate in 10 days. I actually even added 1k miles more on the latest ones yet they went up.

Message here is check often. Only thing now is decide when to pull the trigger if you have some time like us. We are fortunate to have a spare car so we may pull the trigger soon.
My closest Tesla center is in a high tax location, where sales tax is 10.5%, which represents a tax benefit on my trade-in around $4800! That is much more than the spread between KBB Trade-in value and Priv. Party value. Unfortunately, in my case, Tesla's offer is far enough below the low KBB trade-in range that it makes sense to try to sell privately.
 
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jfort

Member
May 13, 2021
32
18
Wilmington NC
I just got Tesla's offer on my 2018 Audi RS3 trade for a M3 LR due in Feb/Mar. Their offer is about $3k less than the low end of KBB trade-in value (which is what Carvana has offered). Has anyone succeeded in challenging Tesla on offers that are well below the low end of KBB? If so, is it best to do on line (or phone) or in person at Dealership. My closest dealership is 100 miles away.
I asked about my low trade in on a 2021 vehicle and whether they were accounting for all option packages. Sent them my window sticker and got an extra 3600 based upon trim/options. Might be worth a shot.
 
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TL;DR Sold my used SUV to Shift.com for a crazy inflated price. Worth checking out if you are trading in...

I had a 2015 Chevy Tahoe 4WD with 65,000 miles on it.

I was going to trade it in to Tesla (who offered $29,000), but with my estimated delivery date for the Model 3 shifting between December and Feb, I didn’t want to wait and then get a lower offer if the trade-in went down in Feb.

I took offers online from Carvana, Vroom, CarMax, and CarZeus (yes, there are a ton of new places). Carvana was the cheapest offer at $23,000. Vroom offered $26,500. CarZeus offered $29,000-$31,000 depending on inspection, and CarMax offered $33,000 if I brought it in to a drop off place about 30 miles away.

I was all set and ready to go with CarMax, when my wife told me her friend had told her about SHIFT, and I should get an offer from them because the word was they were offering a lot of money for cars. I had never heard of them, and their price quote mechanism online was only four questions that you clicked a Yes/No on big cartoonish buttons before getting your quote. They offered $35,000, plus a $200 bonus if you had two sets of keys. Seemed a little scammy, and I was dubious.

I was skeptical, but I clicked “Accept Offer” on the email they sent, and I was called within a few minutes to schedule an inspection/pick-up. Their normal procedure was to send someone out to inspect the car, then schedule a truck to come out and take it away. But they offered to do a “remote inspection” by phone. I assumed this would be some sort of video call where we looked at the car. Nope, they just basically asked me the exact same questions as on the website “does it smell?” “is it clean?” - really basic stuff. After about two minutes of generic questions, I “passed” the “remote inspection”.

They offered to send out the truck to pick it up, but there was another $200 bonus if you drop it off at their location. No problem! I drove it over tonight. I’m in Austin and they had rented a tiny little place at the back of an half-abandoned strip mall on Burnett Road. They had painted the place bright green to match a stand-up banner with the SHIFT logo on it. The employees were dressed in sweatpants, ratty rock concert shirts, and flat brimmed baseball hats, but they couldn’t have been nicer. They had handheld ipads that walked them through another inspection which was once again the same four or five basic questions. At one point one of the guys went outside to look at the car and the other guy said “you don’t have to look, it’s already been inspected”, I guess referring to the phone call I had an hour earlier.

Signed a few papers, gave them my banking info, and they gave me a receipt for the wire transfer: $35,400. CRAZY!
If you read any reviews on SHIFT, there are a lot of negative reviews from people who buy cars with undisclosed problems, and a lot of positive reviews from people selling their cars painlessly like me. That pretty much adds up because their inspection process is minimal, at best. They must have some software program that lines up the car with another sale somewhere else in the country, because right now they are bidding way above everyone else and I don’t know how else they are profitable because the car I sold them (2015 Tahoe 4WD/LT, 65k miles) is for sale on every site around for less than I received.

While I was signing, I asked them if they took BMW leases. The guy said “Sure, we get Beamers in here all day long.” I told him that BMW was restricting lease buyouts, and the guy at the other desk piped and said in a confident voice, “Don’t worry, we can get it through.”
I don’t know what they are doing at SHIFT, but if you have a car to sell, get over there because it appears as though they are giving away money.
 
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Just resubmitted my 2010 BMW 128i for trade in (30 days since I originally submitted it). Originally Tesla offered $4000, now they're offering $3700. I'm shocked they're willing to pay anything for an old BMW with 150,000 miles
The market is insane right now. Tesla offered me $4200 for my 2004 Lexus RX330 with 164,000 miles on it and I just sold it on Facebook Marketplace in less than 24 hours for $500 more than I paid for it in 2014 ($7000).
 

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