I just ordered a 2021 Performance to replace my 2018 LR. The trade in offered by Tesla was within a few hundred of my Vroom offer so I was just going to trade it in. With the likelihood of no new Performance cars until March how does the trade in work? Will they guarantee the offer or should I just sell it and drive my wife’s car for a few months?
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Tesla trade in timing
- Thread starter scott8659
- Start date
They will not guarantee it. There is a time a mileage limit. They will re-evaluate at that point.
depending on state laws, you may get a sales tax benefit from trading in to Tesla.
mrg0114
Member
I got burned by this - despite almost no milage on the car I just traded in for a 2021 LR-AWD (<150 miles added), when the trade-in offer expired a week before I took delivery of the new car, the amount offered dropped from $1500 to $1200 - a significant % decrease even if not much in marginal dollar terms.
If I were doing it over again, I would have told them no trade in when I was ordering, and then tried to add the trade in 2-3 weeks before expected delivery. I'm not sure if that would work with their systems, but it would have avoided the minor loss I just took by doing the trade-in evaluation right after placing the order.
If I were doing it over again, I would have told them no trade in when I was ordering, and then tried to add the trade in 2-3 weeks before expected delivery. I'm not sure if that would work with their systems, but it would have avoided the minor loss I just took by doing the trade-in evaluation right after placing the order.
I doubt you would have avoided that minor loss. You would have just gotten a lower offer in the first place, so maybe your perception would have been of avoiding the loss, but it likely would have worked out mostly the same.
I think (but dont know for a fact, just read it here), that its 30 days and 1,000 miles limit on the trade in offer.
JCtx
Member
I got an offer for my trade (a ridiculous offer, by the way), and it was good for 7 days or 250 miles. SA told me Tesla would honor that quote until delivery date, but at the 7th day, the trade-in offer disappeared. On previous attempts to buy a Tesla I was told the amount would decrease after the 7 days, which is what makes more sense. But I was disappointed Tesla is offering less than basically any other dealer, so well below wholesale. No way I'd have bought a Tesla for myself, but it's for my wife, and I want to please her, so went ahead with it this time 
. But I'll sell my trade elsewhere. Just checked with Vroom, and they were several hundred dollars above Tesla, even taking into account the tax differential. Geez.
. But I'll sell my trade elsewhere. Just checked with Vroom, and they were several hundred dollars above Tesla, even taking into account the tax differential. Geez.I got an offer for my trade (a ridiculous offer, by the way), and it was good for 7 days or 250 miles. SA told me Tesla would honor that quote until delivery date, but at the 7th day, the trade-in offer disappeared. On previous attempts to buy a Tesla I was told the amount would decrease after the 7 days, which is what makes more sense. But I was disappointed Tesla is offering less than basically any other dealer, so well below wholesale. No way I'd have bought a Tesla for myself, but it's for my wife, and I want to please her, so went ahead with it this time
they dont want your trade (tesla). They are not going to sell it anywhere but at auction. The only reason they offer to take them at all, is because some people need to trade it in to be able to buy at all, and others want the convenience.
Unlike just about every other dealer, tesla doesnt care about your trade and is not looking to make money on it, just trying not to lose money on it. other dealers will value your car based on what they think they might be able to sell it for, while tesla only cares about what they would get at auction for it, period, end of sentence (unless its a tesla, they do keep some of those to sell of course).
So, your car is likely worth more to other places than tesla because those other places might think they can get more for your car by selling it (maybe its in good shape, desirable, etc).
mrg0114
Member
Sebat4
Member
I would never trade my car back to Tesla. They are very sneaking who trade-in option. Better to go outside of Tesla. Carvana, Vroom, there are other companies. Carvana gave me the best price for my car before I got Tesla. I remeber when I got $13k offer for the car from Tesla (I do understand that my car was Dodge and Tesla really isn't in business of selling other car makes vehicles), I ended up selling to Carvana and the gave me 19.5K offer. Came over the weekend, pick up the car (didnt even look at it) and sent me $19.5k few minutes later. I think Carvana has the best offers from my experience with them and selling two cars to them.
westernvine
Member
Sell it now if you can.
The whole trade-in value industry is in bed together, so once you start quoting it out, they'll all essentially be the same, especially at the VIN level... but Tesla won't be any better.
Full disclosure, I'm waiting on my 2021 replacement for my 2019 Performance model, and they've already re-priced the trade at least once, and it is $3,200 less... Washington State sales tax on cars is 11%+, so there is a sales tax reason for me to want to trade-in to Tesla, but not any good financial reason...
The whole trade-in value industry is in bed together, so once you start quoting it out, they'll all essentially be the same, especially at the VIN level... but Tesla won't be any better.
Full disclosure, I'm waiting on my 2021 replacement for my 2019 Performance model, and they've already re-priced the trade at least once, and it is $3,200 less... Washington State sales tax on cars is 11%+, so there is a sales tax reason for me to want to trade-in to Tesla, but not any good financial reason...
CapeOne
Active Member
Although you may lose some of the sales tax advantage from trading (depending on your state laws), you'd probably be better off selling to Vroom now if you can go without a car until the new one arrives. Tesla’s trade offer is only good for 30 days or 1,000 miles and some have reported getting notably lower offers even shortly after the 30 days had expired.
You could also try to sell it privately.
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