Tesla Low Trade-in Value

[Ty_EV]

I have a 2020 M3 Standard Range Plus was purchased Jan 27,2020 with the added sport rims and around 30k. Was only offered $30,100 from Tesla for a car that’s only 12 months old, Elon stated on record that these cars will hold their value, losing 50% of its value after one year is mind blowing.

I weird thing about it a 3rd party used car dealer offered me more for the car at $39,000 don’t know what going on with Tesla.

 

[brkaus]

Take the other offer and move on. Tesla isn’t setup to sell large number of used cars so they price low. They also will wholesale anything that isn’t fully original. So your added wheels are a negative to then.

also make sure you take into account any federal incentive in calculating your initial cost.

 

[5abi]

You should be able to sell it private for $40k ish

 

[Ty_EV]

Take the other offer and move on. Tesla isn’t setup to sell large number of used cars so they price low. They also will wholesale anything that isn’t fully original. So your added wheels are a negative to then.

also make sure you take into account any federal incentive in calculating your initial cost.

The rims are the original sport rims purchased from Tesla at the time of purchase

 

[Ty_EV]

You should be able to sell it private for $40k ish

Yep that’s what I’m thinking going to sell it privately

 

[mrElbe]

Tesla will offer you only wholesale auction value. They are not wholly into the used car market.

 

[Smytty]

If you buy a new car and sell after a year, your going to live with the same problem - depreciation is greatest in the first year. Just don’t sell it yet - hang onto it for another year or two. Or sell privately if you really have to unload it.

 

[Goodtohave]

Also because of rebates...my new SR plus was 42k after rebates .

Can’t base a used price on full list , in the least take off the 5k

 

[mfitz]

I just got back from the Ford dealer in Pickering Ontario. I priced out a Mach E California edition $66500. The Mach E is a very nice vehicle, well built and quiet but not as quick as my M3 Standard range plus. The reason for this post is to show the discrepancy in trade in value vs Tesla. In May of this year Tesla offered me $30,100 to trade to a $69900 model Y. Ford offered me $40,000 on a $66,500 Mach E. Apparently the dealer has access to sell the cars south of the boarder thus such a good trade value. If Tesla doesn't up their game they are going to lose a ton of sales to the traditional auto makers.

 

[Goodtohave]

They can’t sell a Canadian Tesla to the US…

But the car is probably worth 40k and they want the sale, unlike Tesla that doesn’t care lol

 

[mrElbe]

There is no problem selling a Tesla in the US. A few TOCO members sold their cars to the US. The problem with the Mach E and others is the lack of a reliable charging network.

 

[CATERHAM]

I just got back from the Ford dealer in Pickering Ontario. I priced out a Mach E California edition $66500. The Mach E is a very nice vehicle, well built and quiet but not as quick as my M3 Standard range plus. The reason for this post is to show the discrepancy in trade in value vs Tesla. In May of this year Tesla offered me $30,100 to trade to a $69900 model Y. Ford offered me $40,000 on a $66,500 Mach E. Apparently the dealer has access to sell the cars south of the boarder thus such a good trade value. If Tesla doesn't up their game they are going to lose a ton of sales to the traditional auto makers.

You're right, I also find it very annoying that Tesla Ontario at least low balls on Tesla trade-ins. The problem with selling privately to get the true market value is our high 13% sales tax that we have then pay on the full value of a new Tesla purchase.
If there was a way to bring this unfair practice to Elon's attention something would be done about it.

 

[ConfusedF]

Tesla trade in value is just ridiculous.

I got trade in estimate for $47000 for LRMY from tesla and when I went to local Chrysler dealer they offered $65000.

Isn't it just insane. I mean I understand having couple thousand difference but this is just absurd.

I want to trade in my model y for new model s and trading in directly would've been so much better as I can keep my MY untill I take delivery for model S.

But now my only option is to sell it to Chrysler dealer (they want it now and can't guarantee value after 2 months) and rent another car for 2 months. Which seems like too much headache. I am taking few days to think it over but getting more inclined towards not upgrading and keeping model Y for now.

Hopefully there will be some long range ev options from other manufacturers and I can ditch tesla.

 

[Vawlkus]

Tesla trade in value is just ridiculous.

I got trade in estimate for $47000 for LRMY from tesla and when I went to local Chrysler dealer they offered $65000.

Isn't it just insane. I mean I understand having couple thousand difference but this is just absurd.

I want to trade in my model y for new model s and trading in directly would've been so much better as I can keep my MY untill I take delivery for model S.

But now my only option is to sell it to Chrysler dealer (they want it now and can't guarantee value after 2 months) and rent another car for 2 months. Which seems like too much headache. I am taking few days to think it over but getting more inclined towards not upgrading and keeping model Y for now.

Hopefully there will be some long range ev options from other manufacturers and I can ditch tesla.

Don’t hold your breath.