Check out the auction site carsandbids.com, there's some recent examples to get an idea of what they are bringing.
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Trade in offer on my 2021 Model Y Lower than I expected
- Thread starter rurutes
- Start date
Where did you get this offer? Seems really low to me even in today's market. Check the trade on car gurus.
Your always going to take a bath on trade. You will get the most money back out on a private sale. If you don't have to sell right now DON'T! This is the worst time to sell. If you must sell then sell private party.
Your always going to take a bath on trade. You will get the most money back out on a private sale. If you don't have to sell right now DON'T! This is the worst time to sell. If you must sell then sell private party.
I had same issue selling my 2021 MY with 23k miles. I went to every online site there is and all were laughably low lowest being 25k. I then started calling local dealerships and after a few the best offer I got was 42k. I wish I could tell the future because I could have sold it for 60k plus just a few months ago.
zoomer0056
Active Member
Private party (and FS thread on TMC) always gets a highest price.
Macb00kemdanno
Member
I'm confused. Why would you want to trade it in any way? It has less than 20,000 miles, is in excellent condition, and the 2023 can't be THAT much better, right? I mean, you get the Li-ion accessory battery and the Ryzen MCU, but you're losing a few things, too (like USS).
I don't mean to be so "judgy" but I never understood the need to upgrade to the exact same vehicle after such a short period of time -- especially with those low miles.
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I was just about to post the same question. people are supposed to expect to lose money on selling a 2 year old car. Its just a question of a little, a lot, or a "whole lot". Unless this car was in an accident or something, I have no idea why the OP is trying to sell it.
I mean, I can speculate its because "Wow buying a new one is so cheap now, I should trade mine in" but then i dont get AT ALLL any "indignation" on the current prices for used ones. Its like when home prices fall, and people are like "Wow I can buy a new house now, I need more space, then turn around and complain about the market price for the existing house they are trying to sell.
From the description the OP gives of their car, there doesnt appear to be a reason to sell it.
ElectricIAC
Good-Natured Rascal
Yea personally I feel more comfortable owning Tesla's while still under a full warranty and figured buying before March is the cheapest way to extend that warranty. Also I have an early 2021 so missing a few other features like heated steering wheel and USB in glovebox. Am sad about the lack of USS but to me it seemed like worth while upgrade. No accidents at all on this car!
When people start looking at this, the real question they should be asking themselves is " Looking at the difference between what I can sell my car for and what a new one costs, would I write a check for that amount to the dealer for the features on the new one if I could?"
Even at the height of the used car market (mid last year) for me, the difference at that time between my 2018 model 3 performance, and a new one, was about 8-9k out of my pocket. Would I have paid tesla 8-9k for the difference in features, which amount to a ryzen processor, pedestrian speaker, heated steering wheel, and a refresh in car warranty (battery warranty is still in effect)
For me the answer was "no, thats not worth 9k". Its certainly not worth 19-20k if its not worth 9k to me.
You want to sell the car so you have full warranty again. It would be much cheaper to buy an after market warranty, or self insure yourself. The battery itself (the most expensive piece) is under warranty, and you would have to spend a LOT LOT LOT to equal the difference in price between your car and a new one in warranty repairs.
The best financial answer is almost always "keep your current car". People exaggerate how much repairs cost. Anyone who can actually afford to drive one of these cars new can also afford to spend a couple grand on repairs. They may not WANT to (thats a different discussion) but they should be able to.
Am I losing my mind....I don't see any mention in the OP or thread title of what the actual offer was?
Yea Idk the title was changed by someone sorry I may have broke the rules or something with my title. The offer was actually $29,200 not sure where people are getting $21k
I will edit your first post and put that in there.
I think the OP just wants to upgrade which is understandable. The OP likes the car but its not a good time to upgrade. OP I would also let you know that the new ones don't have ultra sonic sensors so if you use them for parking (to tell how far you are from things) then you will not have that functionality. In some ways it will be a downgrade from your 2021...which is really nice BTW...and you will be losing a ton of money on it. I would encourage you to reconsider upgrading at this time. Not worth it IMO.
Thats the thing, though. Not to me it isnt. Its never a great financial decision to buy a car and sell it again after a couple of years, unless one works for a car dealership and is a part of their deal making process so can "ensure" you always find yourself a deal.
I agree with the rest of your post though, a 2021 in good shape that hasnt presented a bunch of issues should be kept, unless someone wants out of the tesla ecosystem itself (which, then I would understand the desire).
Trading in for the same vehicle doesnt make a lot of sense, especially now.
Thanks for the clarification. I figured it must have been edited out and figured it must have been close to $30K with everyone making offers of 30+$1...LOL
I think Tesla trade in offers are notoriously lower than others. But because of the huge price decrease and many car buying companies getting burned by having overpriced Teslas they are going to take a loss on they aren't all wanting to buy used Teslas right now. Still worth trying a private sale or at least shopping the car buying companies to see what they would offer.
Usually the only reason to trade in to Tesla is convenience and/or if you save the tax on the value of the trade in (which can make up some of the difference between a private sale and trade in).
No I am with you here. I said I understand wanting to upgrade when you really like a car. I also agree with you that it isn't a good financial decision. Unfortunately, many times folks get really excited about cars and the financial logic goes out the window...usually to return later on in the form of regret.
I've had decent success on the Facebook group, Teslas for sale by owner. Just be prepared for folks to lowball you and laugh at your listing, it's a brutal group. However, there are folks willing to fly around the US for a good deal. Also, having your Title in hand seems to help.
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