Thinking about selling

[Fourdoor]

I have an old ICE car I was thinking of trading in on my LR purchase. Private party price is $3,800 but I understand that you don't get that on trade in normally. Tesla offered me low KBB trade in price for it ($1,100) but Carvana just offered me a whopping $204! It is worth more than that if I take it to a scrap yard. Waiting on my vroom offer. I expect their offer to be low as well... I will end up selling private party via auction. The car is a rare vehicle that will fetch more than $3,800 IF the right buyer sees the auction, and I will have a reserve of the "high" end of the trade in value.

Keith

 

[DayTrippin]

I have had good luck depending on the purchase price of what I am selling on Craigslist. In the under 15k range, I've sold 3 vehicles in the last month on CL. My 45k car was priced right and not near as much interest and a lot more hassle.

People coming out and offering me 10k less than the worst offer I got from Carvana, Vroom, etc. Others were clearly just tire kickers. One guy I wasted an entire day with trying to help him get financed. Another one was concerned about their being a lien on the car, so I paid it off to simplify the transaction and the guy never followed through. If you have the time and can deal with the hassle, CL can be worth it as shown by my other vehicles where the dollar amounts were lower. I always met someone away from the house which sucked up a lot more time. TBH, I am glad some of the people I met had no idea where I lived.

Then again it may be different where you live.

 

[CyberTorque]

I have sold my cars to private parties on Craigslist at prices far higher than carmax, caravans and car dealership. Tesla offered $5700 for my 2008 Acura MDX in mint condition. Other quotes were $6300-$6700. Sold to private party for $9500 in less than 24 hours.

Don’t tell my dad! Kidding, pops wanted me to private party sell but I legitimately don’t have the bandwidth to mess with it. Carvana offered more than Tesla and even with tax savings by trading, I saved, still more money and way easy. Congrats on your success.

 

[miggz410]

What were you offered from Vroom? What was your MSRP?

Vroom offered me in the mid 50s, and my msrp was $51k. I got 7 days to decide. Will be calling Carvana tomorrow and take it to carmax on Tuesday. Tesla offer was lower than Vroom.

 

[BrianBigNFun]

Depending on your state you can get a sakes tax credit for a trade in so bear that in mind with values
So if in PA like me Tesla offers $45k and Vroom offers $47k you’d still save $700 by trading in with the $2700 (6%) tax credit

 

[Clark_Kent]

Vroom offered me in the mid 50s, and my msrp was $51k. I got 7 days to decide. Will be calling Carvana tomorrow and take it to carmax on Tuesday. Tesla offer was lower than Vroom.

Thanks for sharing. I'm impressed they offered you several thousand dollars above MSRP. How many miles do you have on your car?

 

[miggz410]

Thanks for sharing. I'm impressed they offered you several thousand dollars above MSRP. How many miles do you have on your car?

4800 miles...

 

[Carbonfiber]

Just got a job that will provide a company car. My wife and I are debating which car to give up. She drives a Rav4 Hybrid and I drive the 2020 MY. If the market value on the MY is that good, might consider giving up the MY and then upgrading to a MX in the future.

 

[Needsdecaf]

Bearded Tesla guy has 38k miles on a one year old car. If I was a private consumer, I wouldn't touch that with a 10 foot pole.

Why?

My car has 31k and is about 15 months old. Used does not mean abused. I have a 90 mile per day commute, and have done several 400 plus mile trips in the car. Highway miles are easy miles....my Pilot Sport 4S's aren't even at the wear bars yet!

Priced appropriately for the miles, I'd rather have a highway cruiser than one that's been beat in stop / go traffic.

 

[wraithfive]

Carvana and Vroom typically give you high estimates just to get you hooked.
They typically find ways to bring down their offers.
I've sold to Carmax and they (at least in my experience) make the best (and true) offers.
What they offer is what they will pay - no more, no less.
I recently sold my Corvette to AutoBuy who claim to pay the max. Maybe there is one close to you.
They made it super-easy. They sent me my payment via check over the computer, before they even
picked up the car. Very good experience.
Good luck.

This was not my experience with Carvana. They gave me by far the highest offer when I sold my car prior to getting my Tesla and there was zero negotiation or attempts to bring down the price. They gave me the number online, I said yes. I scheduled a date to take the car to them (no pickup offered in my area at the time due to Covid) and within 5 minutes the paperwork was done and they initiated a deposit into my account. They even called me an Uber for free to take me home. It was by far the easiest car selling experience I've ever had.

Carmax gave me the lowest offer actually. Not that I'm complaining, they value things a little differently than other dealers do. Their offer was not unreasonable, just not as high as I knew I could, and did, get elsewhere.

Moral here is, getting offers is free and costs you nothing, (if someone tries to charge you then walk away, you DON'T want to deal with them) so go get them from as many places as you have the time for and pick the best one.


But remember to calculate your trade in sales tax adjustment before you accept an offer. Get Tesla's trade in offer, see if they will match some one else offer if it's lower than you got. If they won't don't just accept the higher offer until you check out the sales tax difference on the purchase. Else you could end up selling your old Y for $2000 more than Tesla gave you in trade but paying $2500 more in sales tax than if you had traded in to Tesla. Thereby losing you $500 on the overall deal.

 

[PNWLeccy]

I check my trade in value every once in a while and Tesla always offered in the same ballpark as carvana, vroom, shift etc. but w/ the high sales tax in WA they usually were the highest overall.

However, more recently Tesla's offers have been $8k+ less than the competitors. I'm considering private sale as well but am worried that things are much more complicated trying to sell a mid-$40k vehicle that has been financed. I am not familiar with how a buyer would go about paying off my current loan

 

[Fourdoor]

Just found out something very interesting. In Arkansas you don't have to trade in your car to get the tax benefits of selling your old car. As long as you have a bill of sale, if you purchase a new car within 45 days you pay sales tax on the difference between your sale price on the old car and the sale price of the new car... so I have another 38 days to take delivery and save around $800 on my purchase in sales tax savings. My current "delivery date" is Jul 20 to Aug 9. The front end of that is in the savings window, but any delivery date past Jun 28 is a no-go. I may switch over to an inventory car if something comes up that tickles my fancy

Keith

 

[Balthezor]

Why?

My car has 31k and is about 15 months old. Used does not mean abused. I have a 90 mile per day commute, and have done several 400 plus mile trips in the car. Highway miles are easy miles....my Pilot Sport 4S's aren't even at the wear bars yet!

Priced appropriately for the miles, I'd rather have a highway cruiser than one that's been beat in stop / go traffic.

To me, used is used. Used with 30k miles in one year? Sure, you took care of it well, but that's a lot of miles. Easy to say its fine and its well taken care of. Still wouldn't touch it no matter what good things the seller would say. Trying to sell me something, I'm sure whoever is selling it will try to put lipstick on that pig.

 

[ChrgdTeCHick]

I traded my Tesla S back in March to AutoNation and it was thousands more than Vroom, Carvana, Caxmax, Tesla, and wherever else I got a quote. I didn't feel like dealing with private sale.

There are bad stories about AutoNation but they not only gave me exactly what I was quoted online, but they wrote me a check for my equity right then and there and paid off my loan within days.

 

[PNWLeccy]

I traded my Tesla S back in March to AutoNation and it was thousands more than Vroom, Carvana, Caxmax, Tesla, and wherever else I got a quote. I didn't feel like dealing with private sale.

There are bad stories about AutoNation but they not only gave me exactly what I was quoted online, but they wrote me a check for my equity right then and there and paid off my loan within days.

I tried to get an estimate on my M3 via autonation and they couldn't give me one online. Now I have a few people contacting me from autonation to schedule an in person inspection. How did the process work for you?

 

[DanDi58]

To me, used is used. Used with 30k miles in one year? Sure, you took care of it well, but that's a lot of miles. Easy to say its fine and its well taken care of. Still wouldn't touch it no matter what good things the seller would say. Trying to sell me something, I'm sure whoever is selling it will try to put lipstick on that pig.

Well, the entire history of that car is on his YouTube channel! So it's not like he can hide much.

 

[ChrgdTeCHick]

I tried to get an estimate on my M3 via autonation and they couldn't give me one online. Now I have a few people contacting me from autonation to schedule an in person inspection. How did the process work for you?

I got a quote online first, and then was asked to bring it in for inspection. They cut a check for the amount they quoted me, less the loan payoff, right on the spot then paid off my loan within a couple days.

 

[Fourdoor]

Just found out something very interesting. In Arkansas you don't have to trade in your car to get the tax benefits of selling your old car. As long as you have a bill of sale, if you purchase a new car within 45 days you pay sales tax on the difference between your sale price on the old car and the sale price of the new car... so I have another 38 days to take delivery and save around $800 on my purchase in sales tax savings. My current "delivery date" is Jul 20 to Aug 9. The front end of that is in the savings window, but any delivery date past Jun 28 is a no-go. I may switch over to an inventory car if something comes up that tickles my fancy

Keith

Well, the MSM MYP that was in inventory at my pickup location tickled my fancy... and I was able to con the wife into it! They need pickup before end of the month to help meet sales goals push, and since I can't quite my job in order to go pick up the car before Jul 1'st. they are going to waive the shipping fee and drop it off at my house.

So, about two months sooner and a lot faster than what I had on order

Keith

 

[Fourdoor]

To me, used is used. Used with 30k miles in one year? Sure, you took care of it well, but that's a lot of miles. Easy to say its fine and its well taken care of. Still wouldn't touch it no matter what good things the seller would say. Trying to sell me something, I'm sure whoever is selling it will try to put lipstick on that pig.

That "pig" looks to be in pretty damn good condition... I wish I were so rich that a 30,000 mile car in perfect condition was considered a pig! My only objection to used MY's is that they sell for damn near MSRP of a new one, so I may as well get a new one. Perhaps one with 30,000 miles will not be so over priced as a low mileage used MY.

Keith

 

[Balthezor]

That "pig" looks to be in pretty damn good condition... I wish I were so rich that a 30,000 mile car in perfect condition was considered a pig! My only objection to used MY's is that they sell for damn near MSRP of a new one, so I may as well get a new one. Perhaps one with 30,000 miles will not be so over priced as a low mileage used MY.

Keith

30k miles in one year... Buy it if you want. I'm not.