Tesla Model 3 Performance value at CarMax - appraisal lower than expected!

[Halloween81]

Hello everyone I decided to appraise my 2018 Tesla Model 3 Performance....I took delivery December 22nd 2018, the car has exactly 7493 miles on it with pearl white exterior color, white leather interior fully loaded with enhanced autopilot.... the car price is $73,200 with destination doc fee included and my down payment of $35,000 and CarMax has appraised me with offering me ($47,000) WTF!!!...this can't be right I only had a car for 2 months with only 7,000 miles and the car is fully loaded performance and I'm losing ($23,700)??? Please tell me this is wrong?? If soo I'm furious!!!

 

[kbecks13]

I mean, with pretty much ANY new car you lose ~10% as soon as you drive it off the lot. The depreciation curve is also at it's steepest in the early days of ownership, so yea you are going to be paying a SUPER high $/mile in terms of depreciation for the first year or two of ownership.

Not really something unique to the Tesla i'd imagine.

 

[untilcomplete]

Carmax isn't exactly known to offer market value for a vehicle.

 

[chillaban]

Carmax isn't exactly known to offer market value for a vehicle.

Right. You’re pretty much shoving a car in their face and being like “Take it off my hands RIGHT NOW, how much are you willing to give me?”

There’s a pretty sizable price penalty to pay for the convenience and instant process of a dealership trade-in. $47k on a $73k optioned car sounds about right, unfortunately. Just about every option is worth $0 in dealership trade-in appraisal, as much as the owner doesn’t like hearing that.

 

[JVWheels]

I've been to CarMax a few times to check trade-in value. And yes the offers I received were crazy low "wholesale". I did not sell to them.

You might be better going back to Tesla to get an offer or sell on your own.

 

[RayK]

7500 miles in two months? That's a yearly total of 45,000 miles. Maybe they took that into consideration.

 

[focher]

They did the same with me. $47k with 500 miles on it. Best part was their system is misconfigured so it is using the S/X VIN decoder and cannot actually identify a Performance configuration of a 3. Only showing them the purchase contract and Track Mode in Settings solved that.

I was just trying to get a quote to use in a diminished value dispute.

 

[dww12]

Did you get the $7500 tax credit and the $5000 trade for lifetime supercharging? That puts you at 60,700. Your losing 13,700 about 22%. Post it here with your price, lots of P owners want a 2nd, or LR, AWD that want to trade up. White/white is beautiful and looks like a spaceship.

 

[Need]

Options like ext color and int color are going to be a money loser as Tesla charged so much for them. So if someone to go out now to buy a new black M3P, it would start at under $61000. After tax credit, it would be around $57k not counting states incentive. $47k is low, but if you sell it privately, it will probably be around $52k/$54k max. Anything higher, people will consider getting a new one.

 

[seattlite2004]

KBB says its should be worth $61K-$65K with autopilot:

 

[lotusland]

I don't think the math is that complicated. Most will assume $10k off the top for federal and state tax credits. Maybe your state does not offer anything, I don't know, but that amount comes off the price you paid obviously. Also, your car is available cheaper now -- did you take the $5k refund offer? If so then we are up to $15k. Add in the 10% depreciation kbecks mentions and you are at $22k -- pretty close to the number you are seeing.

 

[Nate977p]

Hello everyone I decided to appraise my 2018 Tesla Model 3 Performance....I took delivery December 22nd 2018, the car has exactly 7493 miles on it with pearl white exterior color, white leather interior fully loaded with enhanced autopilot.... the car price is $73,200 with destination doc fee included and my down payment of $35,000 and CarMax has appraised me with offering me ($47,000) WTF!!!...this can't be right I only had a car for 2 months with only 7,000 miles and the car is fully loaded performance and I'm losing ($23,700)??? Please tell me this is wrong?? If soo I'm furious!!!

Are you selling it after the tire issue?

 

[Lifeinabox]

Try Carvana or Vroom but I would still expect a substantial discount.

 

[Kuhz]

Who are you furious at?

 

[dnstommy]

Carmax is wholesale. They have to sell it for what you should get for it. So you get killed and they sell it for what you should get for it in the 1st place. Sell it personally. Sell it on Only Used Tesla | A Place Exclusively Dedicated To Buying And Selling Used Teslas

 

[Magnets!]

so 10k in new car depreciation and 10k for the government incentives that a used buyer won't get (in Calif) and a few thousand profit for the dealer and you have your price.

 

[ronm2948]

A while back, Carmax wouldn’t even take a Tesla. My guess is that they are not set up to deal with electric cars now, and they are just lowballing you because they aren’t that interested in your car.

 

[robski]

Curious what number were you expecting?

 

[S4WRXTTCS]

Why are you getting rid of it?

You should get the $5K refund (if you're entitled to it), and then use that money to get yourself new wheels and tires. Something that can handle cold weather and potholes.

You also have the $7500 tax credit and so you can't include that in any calculations.

In any case I wouldn't use Carmax for something so new, and so dependent on exact configuration.

If I was you I'd keep it, and then trade it in a Porsche Taycan. I'm guessing that Porsche will try to steal some customers from Tesla.

 

[dnstommy]

Curious what number were you expecting?

Probably 66k, BUT everyone knows he got the 7500 off. It's not real money, he really paid 66k for it.

I think 55-58 is a fair person to person price. Carmax is just giving him a auction price for it.