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Tesla will match Carmax price
- Thread starter Caboom
- Start date
I had a similar dealing when I was about to pick up my CPO. My Mini had not sold yet, so I took it to CarMax to get a quote and as a last resort to drop it off and use the monies as part of my down payment. Then I mentioned this to my DS and they said to just bring in a valid CarMax appraisal and they would accept the car and deduct that amount from the total amount due. So not only was I getting the same value as CarMax, but also the difference in tax savings from the total amount I had to pay.
My guess is they would take my Mini directly to CarMax and drop it off and collect the funds. I didn't follow through with it though, a buyer I was chatting with offered me more so I got more money than CarMax offered even with the tax savings.
Hope this helps.
My guess is they would take my Mini directly to CarMax and drop it off and collect the funds. I didn't follow through with it though, a buyer I was chatting with offered me more so I got more money than CarMax offered even with the tax savings.
Hope this helps.
preilly44
Member
I'm in MD and my DS said they will only honor CarMax appraisals on ICEs. Does anybody know if it is an official nationwide program to for Tesla to price match CarMax's appraisal (for a Tesla)?
Skotty
2014 S P85 | 2023 F-150L
When I went to CarMax to see what my options were for selling my old car before I bought my Model S this spring, CarMax offered me well under poor condition dealer trade-in blue book value for my car (non-Tesla). I ended up selling it private party for many thousands more, though still below private party blue book value. They also had no Tesla's in their system for purchase (I totally didn't care, but they looked anyway because they wanted to sell me a car). I would be surprised if CarMax had any Tesla's in inventory, and even more surprised if they offer you even close to a fair price on your trade in. Check it out, but I'd keep your hopes low.
MDinFL
Member
I got the CarMax appraisal on my car and listed it in my usually-successful sites, Craigslist, BMWCCA and Autotrader. Not a nibble. I thought BMWCCA for sure, as my car was a sport package 535 with a 6-speed. I think the manuals are truly dying, at least in anything other than a true "sports car". I was actually a little disappointed. I felt like my car was being shunned. I got over it.
The funny thing was that the service center folks were psyched that my car was a 6-speed.
The funny thing was that the service center folks were psyched that my car was a 6-speed.
Don't think matching CarMax suddenly makes this a good deal. CarMax is going to offer you a solid 15-20% below market for your car and the sales tax reduction (in some states) doesn't come close to making up the difference.
I was so disappointed in CarMax's $6,000 valuation of my vehicle that I listed it on Craigslist for $8,000 and sold it in less than one day. Trading in to Tesla with a CarMax bid is the easy way out, not the smart way out.
I was so disappointed in CarMax's $6,000 valuation of my vehicle that I listed it on Craigslist for $8,000 and sold it in less than one day. Trading in to Tesla with a CarMax bid is the easy way out, not the smart way out.
hmmm
Member
From experience, not everyone at Tesla will tell you that they're matching Carmax, not even within the same store. Just keep asking until you get a yes and have it in writing. CarMax estimates are only good for 7d, so you have to time it appropriately. In my case, I had to pull the trigger on my MS quickly and didn't have the time to sell my other car direct, so it was worth the effort just to have a point of reference. In the end though, I got about 5% more from Tesla.
Not to state the obvious (which of course I am about to do...) don't give Tesla your Carmax # or they will simply match it...
Not to state the obvious (which of course I am about to do...) don't give Tesla your Carmax # or they will simply match it...
preilly44
Member
So Carmax offered about $19k lower than Tesla. They also opened the frunk and didn't know how to properly close it...luckily I was there to teach them (which may not have helped my appraisal value).
CarMax beat Tesla's offer on my S85D by a just a shade over $10,000. Tesla matched. I'm glad they did, but disappointed that they gave me such a low ball offer in the first place. I couldn't possibly love the cars any more, but it feels more and more like they're turning into just another auto dealer.
hmmm
Member
joebiker25
Member
I got a low ball trade in offer from Tesla and went to Carmax where the offer was marginally better. I then got a beepi.com email in my inbox and I called them. They sent an appraiser to my office and he spent about 2 hours on a 240 point checklist (my car is spotless). By the time I got home, there was an offer from beepi.com that was easily 25% higher than Carmax. Plus I get to drive the car till beepi.com sells it on their site or 30 days from offer acceptance, whichever comes first. they will take the car right away if you need the $ for a fee of $750 or $500. I was in no rush so I will wait for the 30 days/car sale date since the offer is locked in. Worth checking out for sure.
davidc18
Active Member
Just had our trade in done at CarMax for our Odyssey. I uploaded a photo of the offer and that is what Tesla is using on our trade for the P90DL, which we are planning on picking up later today. 
Edmunds / Kelly was $31K
Tesla offered me $26K
My dealer (Subaru) offered me $31K, -$750 for some minor scratches
Popular local car buyer, same as dealer, maybe without the scratch deduction
Carmax was $31K with no deduction, and I save $2,000 in sales tax
None of the others were going to give me $33,000, that was for sure
I was tempted to go to Craigslist, but again I would have had to get at least $33K to break even on the sales tax. So I decided to go with it because of the convenience. If I had the time patience, I might have been able to get another $1-2,000 private party, maybe.
My Tesla sales guy said they are partnered now with Carmax to handle all the trade-ins, because Tesla just was not setup for it. They were just handing my car to Carmax and not making any profit on it themselves. I think this makes sense. The $26K they originally told me was a straight sight-unseen auction price.
-JCL
Tesla offered me $26K
My dealer (Subaru) offered me $31K, -$750 for some minor scratches
Popular local car buyer, same as dealer, maybe without the scratch deduction
Carmax was $31K with no deduction, and I save $2,000 in sales tax
None of the others were going to give me $33,000, that was for sure
I was tempted to go to Craigslist, but again I would have had to get at least $33K to break even on the sales tax. So I decided to go with it because of the convenience. If I had the time patience, I might have been able to get another $1-2,000 private party, maybe.
My Tesla sales guy said they are partnered now with Carmax to handle all the trade-ins, because Tesla just was not setup for it. They were just handing my car to Carmax and not making any profit on it themselves. I think this makes sense. The $26K they originally told me was a straight sight-unseen auction price.
-JCL
Would you be willing to share the specs of your car? Mileage? 60 or 85?
$33, or even a little higher for private sale is right at the price point I would love to see for a purchase. I know that wouldn't be AP but that would give me hope my ownership dreams are coming closer
---
edit: I just realized you were trading in a Subaru rather than trading in a tesla for a new tesla...
Disregard
Last edited:
nishT
Member
I talked to Tesla agents about trade-in value of my ICE Jeep. They clearly mentioned, as they do not sell those ICE trade-in's themselves, they will simply turn them to Carmax/vroom.com with no profit. They are just doing this as favor, so some of us can get sales tax reduction. About the appraisal, my sales rep recommended me to take it to either of Carmax/vroom to get an appraisal, which they will match, as he mentioned there is a high possibility that Tesla reps may appraise it lower than carmax. So, i took it to carmax and as expected, they appraised it 3k less than market price (vroom price was much worse). I do not have much time to try craigslist/private sale, as i ordered an inventory which would be delivered in 10days. I did shopped around few other dealers to check if they would offer any higher value than carmax (carmax price + Sales tax saving), but not much. So, I decided to trade-in to Tesla, matching carmax appraisal value.
Carmax appraisal is only valid for 7days. So, if your delivery is later than that, Tesla will ask you to take it back to carmax for re-appraisal (they want valid appraisal by the time you trade-in). As my delivery date was few days past the initial carmax appraisal valid date, I did not want to take chances of re-appraising from carmax, who "may" offer a much lower price than before, I discussed it with my tesla DA and traded-in my ICE vehicle earlier (within the carmax valid date).
Carmax appraisal is only valid for 7days. So, if your delivery is later than that, Tesla will ask you to take it back to carmax for re-appraisal (they want valid appraisal by the time you trade-in). As my delivery date was few days past the initial carmax appraisal valid date, I did not want to take chances of re-appraising from carmax, who "may" offer a much lower price than before, I discussed it with my tesla DA and traded-in my ICE vehicle earlier (within the carmax valid date).
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