Tesla Trade-in Value 2022 M3 AWD LR (Uptrade Possible?)

[repling]

I have a 2022 M3 LR that was delivered in May 2022. KBB shows trade in value at ~$64000, which is coincidently approx the cost of a M3 Performance.

Has anyone done a trade-in on a 2022 M3 LR with Tesla? I'm curious if Tesla's trade-in offer would approach KBB value, but don't want to do another $250 reservation unless I have some level of confidence that it will.

I think it's silly that I'm even able to think about this, but I guess that's the market's fault.

 

[phaheem]

I highly doubt Tesla would give you more money than what they’re selling the car for, brand new.

Try getting your car appraised at Carmax, Autonation, Carvana, etc. to see what “real world” value your car has, i.e., what a dealer would pay to buy your car from you now.

 

[michael805]

probably not.

You’ll get competing offers from driveway or GiveMeTheVin. unlikely from tesla.

 

[Hiline]

You got a slightly better offer than I did - a local dealership offered me 63k for my M3LR. You may be able to get a couple of thousand more from a private buyer, but I doubt Tesla will even value their own car at over 60k.

 

[SoTX_WestTX]

Old thread, I know, but just another data point. I just got offered $40,500 by Tesla for my 2018 RWD M3 LR (just over 30k miles). I too looked up KBB and it was giving a range of $48-52k for Very Good condition so I was preparing to get properly insulted.

So I checked Carvana and it gave me $40,505, lol. So maybe not so insulting? haha

 

[mpgxsvcd]

I have a 2022 M3 LR that was delivered in May 2022. KBB shows trade in value at ~$64000, which is coincidently approx the cost of a M3 Performance.

Has anyone done a trade-in on a 2022 M3 LR with Tesla? I'm curious if Tesla's trade-in offer would approach KBB value, but don't want to do another $250 reservation unless I have some level of confidence that it will.

I think it's silly that I'm even able to think about this, but I guess that's the market's fault.

It is important to note that you have to use the “good” condition for all KBB values if you want them to be realistic. Even if your car is brand new and showroom condition you should select “good” when using KBB. That will give you a much more realistic trade in value of $61,496 with typical mileage and no options.

CarMax, Vroom, Carvana, Givemethevin, or the like will give you much better offers. Probably one of them will match that KBB “good” trade in value.

Vroom had been $10k below Carvana until recently. Out of the blue Vroom offered me $65,800 for my 2022 Model 3 Performance with 8k miles on it. That offers lines up exactly with the KBB “good” trade in value.

 

[derekmw]

It is important to note that you have to use the “good” condition for all KBB values if you want them to be realistic. Even if your car is brand new and showroom condition you should select “good” when using KBB. That will give you a much more realistic trade in value of $61,496 with typical mileage and no options.

View attachment 835874

CarMax, Vroom, Carvana, Givemethevin, or the like will give you much better offers. Probably one of them will match that KBB “good” trade in value.

Vroom had been $10k below Carvana until recently. Out of the blue Vroom offered me $65,800 for my 2022 Model 3 Performance with 8k miles on it. That offers lines up exactly with the KBB “good” trade in value.

View attachment 835875

Does this car have FSD? That's a pretty high price. I did it on my 2022 Long Range and Vroom came back at $60,500.

 

[mpgxsvcd]

Does this car have FSD? That's a pretty high price. I did it on my 2022 Long Range and Vroom came back at $60,500.

Mine is the base Model 3 Performance. I have zero options on mine. No FSD, White exterior paint, and black interior. 8k miles. Vroom is struggling for good quality cars right now.

 

[oscarparra]

I ordered a 2022 M3LR on June 13. Tesla quoted me $56,900 trade-in for my 2020 M3LR with FSD (quote good for 30 days), and a delivery date of mid-July. A few days ago I got a notice that my trade-in quote had expired, so I submitted the info on the trade-in again. The new quote is now $54,600. So the value of my car dropped by $2,300 in one month. This quote is good through Aug. 31 and the delivery date for my car is now Sep - Oct time frame. That means that they will probably drop the trade in value again once, or even maybe twice.

The original quote I got from Tesla was within reason as compared with KBB, CarMax and others. Except for Vroom. I sold a Lexus to Vroom a couple of years ago and their price was very competitive. I tried to get a quote on the M3 and they came back with a price of $5,000! They must have dropped a zero somewhere.

Not a happy camper right now.

 

[derekmw]

I ordered a 2022 M3LR on June 13. Tesla quoted me $56,900 trade-in for my 2020 M3LR with FSD (quote good for 30 days), and a delivery date of mid-July. A few days ago I got a notice that my trade-in quote had expired, so I submitted the info on the trade-in again. The new quote is now $54,600. So the value of my car dropped by $2,300 in one month. This quote is good through Aug. 31 and the delivery date for my car is now Sep - Oct time frame. That means that they will probably drop the trade in value again once, or even maybe twice.

The original quote I got from Tesla was within reason as compared with KBB, CarMax and others. Except for Vroom. I sold a Lexus to Vroom a couple of years ago and their price was very competitive. I tried to get a quote on the M3 and they came back with a price of $5,000! They must have dropped a zero somewhere.

Not a happy camper right now.

Try Vroom again. I think you maybe selected 'No' on does the car run. All those questions in series are No questions if no issues, except for this one needs to be 'Yes'. I missed that somehow the first time and also got a $5000 quote and they told me why that happened. Once I did it correctly, I got the $60,500 quote.

 

[derekmw]

Mine is the base Model 3 Performance. I have zero options on mine. No FSD, White exterior paint, and black interior. 8k miles. Vroom is struggling for good quality cars right now.

Ah ok so that makes more sense. The screen shot just showed Long Range so I figured it wasn't performance. I was going to sell mine this week but my Rivian got delayed a few weeks so I'm hoping to re-do the quote again in a few weeks and get the same amount. If it is, I have a buyer lined up for $62k.

 

[Dan7]

Ah ok so that makes more sense. The screen shot just showed Long Range so I figured it wasn't performance. I was going to sell mine this week but my Rivian got delayed a few weeks so I'm hoping to re-do the quote again in a few weeks and get the same amount. If it is, I have a buyer lined up for $62k.

$62k through a private sale? I’m taking delivery today of my M3 LR silver/black. I was planning on driving this until March-May while waiting on the model S. However, the time line drastically changed to Sept - Oct. I’m also trying to figure out how much I can sell it within the next month.

 

[derekmw]

$62k through a private sale? I’m taking delivery today of my M3 LR silver/black. I was planning on driving this until March-May while waiting on the model S. However, the time line drastically changed to Sept - Oct. I’m also trying to figure out how much I can sell it within the next month.

Correct, private sale. A local dealer reached out and offered $61k

 

[Hiline]

Correct, private sale. A local dealer reached out and offered $61k

When I had just bought my Model 3 back in June, a local dealer offered me $63k.

 

[TezlaTO]

Tesla offered me $66,700 for my M3 LR 19" MSM last week but still leaves me with negative equity towards new purchase of just over $2,000

I was more interested in the "tax savings" for trade in but don't think it's worth it.

Anyone have experience or insight on this, tax free savings term.......like is it worth it

 

[mpgxsvcd]

Tesla offered me $66,700 for my M3 LR 19" MSM last week but still leaves me with negative equity towards new purchase of just over $2,000

I was more interested in the "tax savings" for trade in but don't think it's worth it.

Anyone have experience or insight on this, tax free savings term.......like is it worth it

Why would Tesla offer you $66,700 for a Model 3 Long Range? That makes no sense since they sell that car for so much less.

 

[TezlaTO]

Why would Tesla offer you $66,700 for a Model 3 Long Range? That makes no sense since they sell that car for so much less.

Sorry, CANADIAN dollars lol, my bad.

We pay double what the US pays on everything, didn't you know

 

[mpgxsvcd]

Sorry, CANADIAN dollars lol, my bad.

We pay double what the US pays on everything, didn't you know

Oh sorry. That makes more sense. What did the car cost new up there?

 

[TezlaTO]

Oh sorry. That makes more sense. What did the car cost new up there?

Dec 2021 it was 64K before all their fees + our lovely 13% tax lol

 

[Dsnyc84]

Hey guys,

I have a Model Y on order and currently have a 2022 Model 3 LR with 19” wheels, with 720 miles on it (Purchased July of this year). I was considering trading the car into Tesla for the MY, and just got my offer…. $38,300. The car is in brand new condition - not a single scratch - I barely drive it. I understand that the market has gone lower (along with everything else) but to lose over 30% in 4 months seems ridiculous.

Now considering not taking delivery of the Model Y. There are rumors that there will be a price cut and I have no interest in losing more money.

Anyone else running into this?