Tesla Trade Value in Vs. CarMax Trade in Value

[NY_Rob]

I ran my 2017 Bolt through Tesla's trade-in evaluator and then ran it through Carmax's similar evaluator.
Carmax's offer was $1K+ higher than Tesla's offer.

Some time ago, I had read that Tesla will match Carmax's offer for trade-in's. When placing my Model Y order a few weeks back asked my SA about the procedure and he said in order for them to match the Carmax offer, they have to have it "in writing" from Carmax, and the only way to get that done is visit a Carmax facility, they will not accept the online "offer" that pops up on the Carmax website.

Problem is... the nearest Carmax to Long Island is up in CT. Bringing the Bolt up the CT is about a 3hr (117mi) one way drive or a $120 plus 2hr drive if I go by ferry. Either way, it's a full day affair to go there, get the eval done and get back home.. I don't look forward to doing that at all.

Anyone know of any other way to get Carmax's "in writing" offer without going to one of their facilities?

 

[RichNot]

I'm not familiar with the Carmax offer, but if you can manage it, you can do better if you sell your current car yourself. Cars.com and other buy/sell websites give you access to Kelly Bluebook or other well known value estimators. I've sold many cars myself over the years and pocketed the profit that the dealer would have made.

 

[everydaychris]

I did so much research on this.

Depends on the tesla advisor. Some just say KBB value of very good car, etc. Others, low ball you.

What I found and what I am going to do is take my car to carmax to get it valued. Then, take it to Tesla and see if they will honor it. Based on the past, they usually honor the carmax value.

 

[jiml]

Also get a quote from Carvana. Their process is so dead simple and they gave me the best offer compared to everyone. Talking 3k more.

 

[shinytop]

I got 4K more on the offer from Carmax than Tesla's offer. Tesla accepted the Carmax figure. Had me take pic of it and send in.

 

[Y_Wait]

My only dealing with Carmax was selling them a used Scion xB. Their offer was above the KBB value shown for selling it yourself. Way above what 2 different Kia dealers offered, of course!

 

[NY_Rob]

For the ppl who got Tesla to match the Carmax offer... was the Carmax offer in writing as the Tesla SA told me it needed to be, or was it the on screen version that you get from Carmax when you enter your VIN, mileage, car condition , etc.. ?

 

[NY_Rob]

Also get a quote from Carvana. Their process is so dead simple and they gave me the best offer compared to everyone. Talking 3k more.

Thank you so much for mentioning Carvana!

Using my actual VIN, all options, and real mileage (+1000 mi just to be safe) they are $3K higher than Tesla!
Even with the trade-in tax advantage if I went w/Tesla I still come out + $1,700 by selling my Bolt to Carvana.

 

[shinytop]

For the ppl who got Tesla to match the Carmax offer... was the Carmax offer in writing as the Tesla SA told me it needed to be, or was it the on screen version that you get from Carmax when you enter your VIN, mileage, car condition , etc.. ?

Mine was in writing but I have a Carmax store a couple miles from me.

 

[NY_Rob]

^ thank you!

 

[NY_Rob]

I just got the "official" trade-in offer from Tesla via email.. they upped their original offer, but including the trade-in tax savings Tesla is still $935 below Carvana's offer.

Tesla $18,200 ($19,770 with trade-in sales tax savings off new Model Y)
Carvana $20,705


I put in a quotation request w/all my info to Vroom.com... let's see what their offer is?

 

[NY_Rob]

"Official" offer from Vroom.com came in.. $19,500.

So we have:

Vroom $19,500
Tesla $19,770 (with trade-in sales tax factored in)
Carvana $20,705

 

[SoRandom]

Also get a quote from Carvana. Their process is so dead simple and they gave me the best offer compared to everyone. Talking 3k more.

This is my plan

 

[NY_Rob]

LOL... got an updated offer from Vroom.com this morning $20,000.
They upped yesterday's offer by $500.

 

[SoRandom]

LOL... got an updated offer from Vroom.com this morning $20,000.
They upped yesterday's offer by $500.

I wasn’t going to check out vroom but now I am. I had just heard more about carvana and Carmax. I’m selling a lease so just trying to get the highest offer

 

[CDMtoday]

I did so much research on this.

Depends on the tesla advisor. Some just say KBB value of very good car, etc. Others, low ball you.

What I found and what I am going to do is take my car to carmax to get it valued. Then, take it to Tesla and see if they will honor it. Based on the past, they usually honor the carmax value.

KBB will low-ball you badly on trade value. It's biased towards bank values and dealer retail. The best data available to civilians is Edmunds. Even if you disagree, give it a try for one more POV. Been using their data since before the internet existed.

 

[NY_Rob]

I wasn’t going to check out vroom but now I am. I had just heard more about carvana and Carmax. I’m selling a lease so just trying to get the highest offer

My Vroom.com email offer came in about 2hrs after my online submission. As my "new mail" notification popped up simultaneously my phone rang, it was a young lady asking me if I had received the Vroom offer. I told her I just got the email and I need time to consider the offer. She said "what do you plan on doing with the car?" I told her I had other offers and I needed time to think it over. She asked the price of the other offers and I told her Carvana offered $20,700, she replied "ok, thanks". I then asked if they pick up the car for free, she said yes.
The next day I got the revised +$500 offer from them.

So maybe just tell them you have higher offers and they'll offer you more the next day too.

 

[mswlogo]

"Official" offer from Vroom.com came in.. $19,500.

So we have:

Vroom $19,500
Tesla $19,770 (with trade-in sales tax factored in)
Carvana $20,705

If you get the CarMax match you’ll get that amount PLUS the trade in tax amount.

Private sale or sale to Carvana you lose the tax trade in).

Best deal was trade to Tesla with CarMax match for me.

 

[NY_Rob]

^ unfortunately, Tesla needs to get the Carmax offer in writing to match it... Carmax is in CT, I'm in NY.

 

[mswlogo]

^ unfortunately, Tesla needs to get the Carmax offer in writing to match it... Carmax is in CT, I'm in NY.

If you want the money go for the drive. If not try selling private or take Tesla offer. There is no way around it. CarMax might even be better than online estimate (which I would not mention, since they now know you might be interested in that offer). CarMax could come in lower too, and the trip is for nothing. I would think Bolts are rare and they might want it. Keep in mind match is only good for 30 days. Make sure delivery is well within 30 days of getting the CarMax appraisal.