Carmax so-called touch free appraisal process just means they give an appraisal without getting into you car and test drive. You still need to bring in your car for inspection. During the inspection, you keep the doors and hood open, keep the engine running, and step outside and stand aside. They will look around, take some photos or notes, and then give you the appraisal. But when you proceed with the transaction, they will still test drive it. I don't know if that’d affect the final sale price or not. In my case it didn’t.
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Tesla trade-in offer
- Thread starter Tobin
- Start date
SparkyTX
Member
Yeah, CarMax quoted my about $15K for my car, Tesla offered 18K and KBB showed about 21K. In March the used car market was a mess and it some respects it still is. I checked with other independent car buyers in my area and I just couldn't get a better price if they would even bid. The dealer I bought the car from didn't want it unless I was going to be buying a car. My car is in great shape and low miles so Tesla is going to be making money off me.
I did get a chance to talk to Tesla yesterday. When the whole last minute trade reassessment happened I requested to talk to a supervisor. I did get a chance to vent but they didn't do anything regarding the trade value. They did admit to doing this wrong and my trade should have been reassessed back on 6/4 when they sent me the paperwork. I did dump all of my issues on the supervisor and she is relaying it to her leaders but I don't hold any hopes of getting anything back at this point. She did tell me that we all can let Tesla know how we feel at [email protected]. So, I'll be starting a novel and sending it to them.
The only real high point of the call last night was she told me my car was being unloaded at the Houston delivery center last night, so my delivery taking place this weekend is looking pretty good. I'll be calling them today if they don't call me first.
I did get a chance to talk to Tesla yesterday. When the whole last minute trade reassessment happened I requested to talk to a supervisor. I did get a chance to vent but they didn't do anything regarding the trade value. They did admit to doing this wrong and my trade should have been reassessed back on 6/4 when they sent me the paperwork. I did dump all of my issues on the supervisor and she is relaying it to her leaders but I don't hold any hopes of getting anything back at this point. She did tell me that we all can let Tesla know how we feel at [email protected]. So, I'll be starting a novel and sending it to them.
The only real high point of the call last night was she told me my car was being unloaded at the Houston delivery center last night, so my delivery taking place this weekend is looking pretty good. I'll be calling them today if they don't call me first.
Why do you say that? Tesla doesn't sell them retail, they just go to auction and they could still lose money on it if the demand isn't there.
SparkyTX
Member
I say that in that even at wholesale they will probably going to make money on this deal. I know Tesla doesn't sell them retail but with trade in prices so low they are probably make some money off the trades or at minimum covering their expenses. I doubt it seriously Tesla is losing money in this process.
FredMertz
Member
According to Manheim, the leading authority on used vehicle sales, prices are back to all-time highs.
"Recovering retail sales are reducing vehicle supply. As used retail sales continue to recover, both retail and wholesale supply are coming down. Using a rolling seven-day estimate of used retail days’ supply based on vAuto data, we see that used retail supply peaked at 115 days on April 8. Normal used retail supply is about 44 days’ supply. The most recent seven-day estimate of used retail supply is at 31 days. We estimate that wholesale supply peaked at 149 days on April 9, when normal supply is 23. It was down to 30 days for the most recent seven-day period."
"Recovering retail sales are reducing vehicle supply. As used retail sales continue to recover, both retail and wholesale supply are coming down. Using a rolling seven-day estimate of used retail days’ supply based on vAuto data, we see that used retail supply peaked at 115 days on April 8. Normal used retail supply is about 44 days’ supply. The most recent seven-day estimate of used retail supply is at 31 days. We estimate that wholesale supply peaked at 149 days on April 9, when normal supply is 23. It was down to 30 days for the most recent seven-day period."
EXACTLY! BTW, Manheim is who Tesla uses to auction off their trade-ins. Here's a chart that gets updated almost everyday with this info:
Daily MMR Retention
@Speedr117 , well I got the text this past Sunday the car would be built "in the next 7 days" and once it starts moving to the delivery center they'll contact me". I've already reached out to my local BMW dealer and also have an initial appraisal through Carvana. Both of them are reasonable to me, but neither have seen the car yet in person to finalize the numbers. The Carvana one expires next week, but I don't think it'll change too much over the next couple weeks if things get delayed.
lachambers
Member
SparkyTX
Member
SarasotaGuy
Member
Good news: Manheim used car prices surged 6.6% in early June. Used Vehicle Value Index Those of you unhappy with your trade-in offer from Tesla might want to resubmit your request.
TomServo
Active Member
Getting ready to order a MY and submitted a trade-in request to Tesla for our 2017 GMC Acadia Denali (fully loaded - $48K new) and they came back with $18,800. I was insulted, so I went to KBB and submitted an instant cash offer request and within a few minutes, they e-mail an offer for $23,890. Within a few hours, I received calls from two local dealers wanting to buy my vehicle for that price. Both said they are in dire need of these SUV's. The offer is technically good for 3 days but one of the dealers (George Weber in Columbia IL) said they would honor that price through the end of the month as they want my vehicle. So we are selling it to them.
SparkyTX
Member
Yep, it bounces back. Don't use [email protected]. Either I completely misheard the address or the person giving it to me was misinformed. I've reached back out to Tesla to see what the correct address would be. I'm hoping it was my mistake and they are not giving out that address just to make people feel better.
Yea. If after 10 days it only goes down a couple hundred, I’d be ok with that. It’s already on the higher end of what I even thought I’d get as a trade in without purchasing. Just waiting now till I get the word on delivery of the Y.
I did get a follow up from my Advisor. The advisor said they tried to take this to "marketing" but they were not going to budge on the quoted trade in value. I did share my displeasure with the way they are handling this but they don't seem to really care. My advisor was apologetic and acknowledged that they screwed this up but in the end they are standing firm behind their "trade allowances are good only for 30 days" policy. I understand the policy but they really need to fix their trade in process. To me this still feels like how you get treated by a shady used car dealer rather than the "world's most valuable auto maker".
I did get a KBB/Carvana quote which was slightly better but both of those options are unattractive to me at the moment. I wish that CarMax would give a ballpark range before going to them even though that option makes me unhappy as well.
It looks like I'm still a couple of week out so I have some time to do some digging around on what my best option would be.
I did get a KBB/Carvana quote which was slightly better but both of those options are unattractive to me at the moment. I wish that CarMax would give a ballpark range before going to them even though that option makes me unhappy as well.
It looks like I'm still a couple of week out so I have some time to do some digging around on what my best option would be.
