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Tesla will not honor trade-in amount
- Thread starter BcHoward
- Start date
They just reduced my trade in offer for a Tesla 3 in super condition by 7400$ without explanation and want to keep my 250$ deposit - that has to be a new record Tesla misquoting what a Tesla is worth with a 7400 dollar difference in one week. My car was ready for this Saturday when they pulled this stunt. We bought with them before - what is going on with them ?
But did you get the new lower pricing on the car you are buying? Hoe long ago did you get the quote and how long ago did you order your new cer? I wonder if net net you are still ahead.
SantaFeSpence
Member
I feel - and share - your pain. My understanding is that Tesla only guarantees the trade-in value for 30 days. And you then have to resubmit with a then current odometer reading, and they get back to you with a new trade-in value that is good for another 30 days. When I was given an EDD of mid-November for a new X, I submitted my M3 trade in mid-October and got the value. Then, my X EDD was pushed back to a mid-December range so I had to submit a new trade-in reading in mid- November(the value actually went up a couple of thousand). Then my EDD slipped again to the end of Dec - early Jan, so I had to submit a new odometer reading in mid-Dec, and wound up with a $4,000 reduction. Now my EDD has been pushed back to the end of Jan - early Feb (finally got my VIN) and in 3 days I have to resubmit my trade-in info. With the latest price reductions across the Tesla line, my 2020 M3 trade-in value (pristine, 8500 miles with FSD) is going to take a real beating. Like you, delivery has been delayed by Tesla, not me - but that doesn’t seem to matter when it comes to the trade in value. It sucks.
SantaFeSpence
Member
Patgilm - In my case I ordered prior to the latest price hike, so my purchase price won’t change with this recent reduction - but it’ll now actually cost me more due to the lower trade-in price.
aerodyne
2 of 3 EV's - Defect Free!
So, this is one data point that used Tesla prices are dropping in probable response to the new car price cuts.
lowtek
Active Member
Prices went down 15-20%, I expect trade in values to follow and perhaps even more since the insane used car market is finally correcting.
Also, all trade in valuations are for 30 days, that's pretty much standard across the industry, shouldn't be any surprises.
Also, all trade in valuations are for 30 days, that's pretty much standard across the industry, shouldn't be any surprises.
It was a quote valid for 7 days that they issued while they must have known they were changing prices. I own a Tesla so the whole point of taking the time to order a new Tesla is to utilize the $5000 government incentive we got on January 13th in Canada. I ordered the new car in on the 14th for delivery in Ontario.
They are pocketing the government money away from the customer by downgrading and existing estimate they issued just 7 days ago by 7400 dollars?!!
Here in Canada only a very basic Model 3 is on the list of government incentive. They did not reduce the price for that model by the 7400 they miraculously want to subtract from my trade in.
What is really upsetting is that they not only go after the 5000 dollar government incentive we Canadians are supposed to get but they go 2500$ further down.
Plus, if you do offer less for trade ins be honest about it and implement it into the future not into the existing estimates.
The value of my trade is car should be the value of my car and nothing else - no?
Also, Tesla should know one week befor they cut prices that they cut prices and if the company policy is then to change how they value trades - pause giving out estimates in that transition period. I had never had an estimate go 7400$ wrong - that just seems so unprofessional.
The surprise was that they quoted the trade in 7 days ago valid for 7 days and I got a delivery date within the 7 days. So we be rightfully assume they quote according to what they know. My car value does not change in a week - and if they want to offer thousands less for trade ins then they should not quote them during a price drop. I tried to understand their thought of saying we change your trade in value because WE changed prices without telling you this would affect your sale - by cancelling the order because they changed everything their car pricing their estimate - now they are keeping my $250 because I changed my mind. To me this is very backwards logic twisting.
I agree, that’s messed up. I thought maybe with the timing they gave you less on the trade in but then you got more off with the decrease in new car prices last week.
