Just offered my 2018 M3 AWD LR in Silver as a trade in to Tesla to upgrade to a Performance and they said it was only worth $33K. Carvana is quoting closer to $42K to buy it and KBB shows $42K Trade-In for "Good" condition. It only has 11,000 miles so it should be "Very Good" or better. Normally I would just dispose of it third party and call it a day, but in Georgia they charge tax at time of new car purchase and subtract the trade-in value, so looking at an extra $2,800 loss there if I can't trade it in. Tesla expects me to eat $11,800 on top of the $12,000 first year depreciation for a whopping total of $23,800!
As a Tesla owner and shareholder I am very concerned that Tesla is undervaluing the Trade In value of their own cars so drastically. The lowest for sale used 2018 M3 AWD LR on Tesla.com is $46K. So I eat $23,400 and they make another $13,000? Can't they expect a reasonable mark up like other car dealers? Can't they be in line with KBB or the actual used car market? How can Elon call this an appreciating asset and suggest they will take back leased Teslas in the future as a result of that value if they won't even provide reasonable trade in values to current, loyal customers?
The discouraging part was I have sent numerous unanswered requests for help and when I worked through my local Sales guy, noone internal seems to care to address the issue. If anyone knows anyone at Tesla to draw attention to this, as an owner and shareholder I would appreciate it.
Tesla just lost a new car sale for no good reason.
As a Tesla owner and shareholder I am very concerned that Tesla is undervaluing the Trade In value of their own cars so drastically. The lowest for sale used 2018 M3 AWD LR on Tesla.com is $46K. So I eat $23,400 and they make another $13,000? Can't they expect a reasonable mark up like other car dealers? Can't they be in line with KBB or the actual used car market? How can Elon call this an appreciating asset and suggest they will take back leased Teslas in the future as a result of that value if they won't even provide reasonable trade in values to current, loyal customers?
The discouraging part was I have sent numerous unanswered requests for help and when I worked through my local Sales guy, noone internal seems to care to address the issue. If anyone knows anyone at Tesla to draw attention to this, as an owner and shareholder I would appreciate it.
Tesla just lost a new car sale for no good reason.