Sold my MYSR for $15k profit and getting MYLR for same price

[preilly44]

I actually agree with you and your points are solid. No reason for a downvote though. You could have just posted that exact reply and added to the conversation.

I guess we disagree about what the button means. You said it means downvote, I read it as disagree....mainly because the button says "disagree". It wasn't anything personal, just that I disagreed with the statement. We all have opinions and that was mine. I didn't really think it was a big deal. Sorry get everyone off topic.

Side note, my "disagreeing" with your post is a joke

 

[vegasko]

Price you sell the vehicle - purchase price including tax and any "upgrades" = taxable amount

Not sure if I can deduct the extras but I'm going to try.

So lets say taxable amount is $10k. So how much tax you pay?

 

[MyYisBluOn20s]

Update… in NJ, if you took advantage of the Charge Up phase one promotion ($5,000 rebate), can’t sell your car for 36 months after registration. Didn’t know that (negligence on my part) until reading the fine print tonight. Looks like I’m still blue on 20s for the next 23 months.

 

[Undisclosed]

So lets say taxable amount is $10k. So how much tax you pay?

It should be capital gains tax so around 15%. So $1,500.

 

[1plavs]

Oh you’re absolutely right, literally $0 difference if I tick the FSD option or not…

Man, if I could get about $68k (I forgot i also have acceleration boost) I would jump at it. That represents about a $5k discount (almost a buck a mile, hey, that used to be what Tesla did). Would swap into a Performance without FSD then

I don’t have acceleration boost or FSD and was given $62k today. Is that a lowball offer? Where could I get $65k?

 

[1plavs]

I don’t have acceleration boost or FSD and was given $62k today. Is that a lowball offer? Where could I get $65k? I also have to remember those capital gains taxes that have to be paid.

 

[MyYisBluOn20s]

I think $65k is reasonable for a private sale. For trade, $65k is a tough ask unless you know someone who does export.

 

[1plavs]

I think $65k is reasonable for a private sale. For trade, $65k is a tough ask unless you know someone who does export.

Private party makes me uneasy. I mean I can try, but I would always choose to sell to someone well known. Vroom etc….

 

[OCJeff]

I think $65k is reasonable for a private sale. For trade, $65k is a tough ask unless you know someone who does export.

I was offered $63500 for my MYLR ‘new’ with 3500 miles. But Gmtv have been radio silent since. Could be the holiday week. Not sure.

 

[OCJeff]

Private party makes me uneasy. I mean I can try, but I would always choose to sell to someone well known. Vroom etc….

If you do the transaction at your bank, then it may be more settling. They can process payments and all that. If you have a loan do the transaction at the Bank that has the loan.

 

[Destiny1701]

Wow, this is really tempting. A few things would have to happen timing wise, including the return of the federal tax credit. If it did I'd basically be able to do the switch for "free". Setting all those details aside for now, what would be better (and worse) about the LR vs the SR?

Range: 330 vs 244
Charge rate not limited to 32 amps
AWD vs RWD
Biodefense on new LR
0-60 4.8 vs 5.3 seconds
newer battery technology?
center console new style vs piano black

Anything to add to the list, plus or minus?

Upgraded stereo
Fog lights
Double pane glass? Unless your SR had that

 

[RedWhite19]

Upgraded stereo
Fog lights
Double pane glass? Unless your SR had that

Yes the SRMY has all that. The only difference between the two cars is the extra motor. Everything else, from the stereo, to the lights and double glass, the SRMY has it.

 

[yellowr6]

Sold my 2020 LR Y white / blk inside with tow with 29k mi back in nov/21 For $62k to the dealer. car buyer USA offer me 62k so I show the dealer and they match it. Paid 50 for my Y back in 9/20.

Then Order a MYP MSM/Black with tow

tesla assign a vin (343xxx) yesterday and called me to accept. I wasn’t ready yet, still waiting on my check from the dealer. Told tesla to put me back in line.


since I owned a Y for Almost 30k mi, Im going to be patient and wait for the new cell and tax credit. Got two cars in the family to share but i do missed my Y!

 

[1plavs]

I am also considering selling mine for a MYP, but then taxes come into play as well…I may as well wait until the 4380 cells come out. Why waste all of this time for a minor upgrade I ask myself? Also, when I bought the MY I bought it because I thought I wouldn’t have to worry about having an outdated vehicle. This is true when it comes to other vehicles on the road, but…..when it comes to comparing to other Tesla’s I mean I seriously didn’t expect so many changes in such a small amount of time. For example the MYP now has all season tires and the chip among other things.

This is the main reason I want to wait. I may even wait until the CyberTruck comes out so that I don’t have to do 2-3 trades later on lol.

The problem with so many choices and with upcoming choices it’s really tough to make a decision.

 

[yellowr6]

My main reason was mileages And warranty. the used car market is crazy right now. it’s literally giving u this opportunity for a free trade in or pay a little extra for a upgrade, all depend on the new “tax credit”.

 

[thesmokingman]

My main reason was mileages And warranty. the used car market is crazy right now. it’s literally giving u this opportunity for a free trade in or pay a little extra for a upgrade, all depend on the new “tax credit”.

Once the tax credit hits (for Teslas at least), it should flip this scenario though so strike while the hammer is hot!

 

[1plavs]

Once the tax credit hits (for Teslas at least), it should flip this scenario though so strike while the hammer is hot!

The thing is to go from a MY to a MYP means you would have to get close to 70k to break even. Why? Capital gains taxes that have to be paid from the $ you made on the sale and the new taxes that need to be paid on the MYP.

 

[1plavs]

Once the tax credit hits (for Teslas at least), it should flip this scenario though so strike while the hammer is hot!

The thing is to go from a MY to a MYP means you would have to get close to 70k to break even. Why? Capital gains tax from $ you made on the sale, new taxes that need to be paid on the MYP.

Once the tax credit hits (for Teslas at least), it should flip this scenario though so strike while the hammer is hot!

How? What if you order a MYP now and the tax credit comes out.

 

[MyYisBluOn20s]

Update… in NJ, if you took advantage of the Charge Up phase one promotion ($5,000 rebate), can’t sell your car for 36 months after registration. Didn’t know that (negligence on my part) until reading the fine print tonight. Looks like I’m still blue on 20s for the next 23 months.

Minor update here…emailed NJ Charge up program and the $5,000 (or basically whatever amount you get via Charge Up NJ) is amortized over 36mo. At this point if I traded, would owe $3300. I don’t think the current MYP is enough of a change (less the acceleration) to warrant the change.

 

[Daekwan]

My main reason was mileages And warranty. the used car market is crazy right now. it’s literally giving u this opportunity for a free trade in or pay a little extra for a upgrade, all depend on the new “tax credit”.

I almost agree. There is still the issue of sales tax for most of us, so its definitely not exactly free. At best many of us are paying a minimum of $3000 in sales tax to upgrade to a new MY, even if you can sell your used car for exactly the price of the new one.