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Trade-in, or sell, how do you deal with the timing of it?

Discussion in 'Model 3' started by MikeR55, Sep 21, 2019.

  1. MikeR55

    MikeR55 Member

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    So Tesla has offered me $4,500 for my RAV4, a local dealer offered me $100 more, but he won't put it in writing. I would like to hold onto the car for an extra week or two, so selling it to a local dealer makes more sense, however if he doesn't put it in writing I'm afraid I lose my trade-in, and it's only offers me a lot less a week or two from now. Has anyone done the trading as opposed to selling it to a CarMax our local dealer? Did you wait a day or two for a week or two after you sold it? Because I'm guessing guessing Tesla will want the car at trade in the minute you pick up the new one?
     
  2. tvad

    tvad Member

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    $4,500 isn't much in the scheme of things, but I know everyone's situation is different. If you can cover that with cash at purchase instead of trading the car, then I'd sell the RAV4 to Carvana or CarMax, or sell it yourself through CarGurus. If you can't cover the $4,500 with cash, then perhaps consider if this is the right time to buy a new car...
     
  3. MikeR55

    MikeR55 Member

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    Ha. Yes I can cover. I can buy for all cash but prefer to keep in investments as they make far more than the 3.24% in paying on the car. But I run 2 businesses so no time to have people come over and kick the tires. I'm giving my GF my Prius and trading in her rav4. I'm at CarMax now to get appraisal though.


     
  4. tvad

    tvad Member

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    ^ Understand you're busy.

    I'd suggest checking also with Carvana after receiving your CarMax quote. You can do it online.
     
    • Like x 1
  5. MikeR55

    MikeR55 Member

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    Yeah I guess I want to make sure I lock it a quote. So I'm guessing if I don't have it in writing from a local dealer I should not trust it. I guess that's my question really. Whether to do a trade-in or local dealer I just trying to figure out the timing of it all
     
  6. tvad

    tvad Member

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    CarMax provides a written quote good for seven days, as you know since you've been there. I believe Carvana does the same.
     
  7. TheTonester

    TheTonester Member

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    Carvana is offering me $2,000 more for my car than CarMax is. Unfortunately, I don't think Tesla matches Carvana's offers the way they do CarMax's. Has anybody dealt with Carvana? I'm wondering if I should pick up my Model 3 and not trade in my car, and then trade it in later to Carvana.
     
    • Like x 1
  8. MikeR55

    MikeR55 Member

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    Carvana just offered me almost $1,000 less than Tesla did. But yeah I'm in that same boat traded in to Tesla or do it afterwards?
     
  9. OCR1

    OCR1 Active Member

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    I wouldn’t mess around with this for the extra $100. The nice thing about trading it in to Tesla is you only have one transaction to deal with. And something most people never consider, but what happens if you go to pick up your Tesla and discover it has issues, and you elect to reject it and wait for another one?

    With the Tesla trade in, no big deal. Just drive your existing car home. If you already sold your car to a third party now you have no car until Tesla comes up with another VIN.
     
  10. MikeR55

    MikeR55 Member

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    Good point. I was worried that with the Tesla trade-in then I lose that ability, but I guess you're right the car still there. However in the 7 days if there's a problem and it has to go back in the house only we don't have a second car, that's what I worried about. I was planning to pick up the Tesla then keep the other car for extra 7 days, but then yes you do run into the problem of the used car person changing their mind or trying to Swindle you
     
  11. afadeev

    afadeev Member

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    Tesla's trade-in offers are notoriously low-balled, below wholesale. Which is how Tesla disposes of the trade-ins (they don't resell them directly). No, Tesla wont price-match anyone else's quotes.

    Your best course of action, if $4.5K is not a cash flow burden, is to keep your current ride. Sell it later to a dealer/Carmax/Autotrader.com yourself.

    On the other hand, if you are not the type to DIY sell cars, or are not competitive about the trade-in price you get for your RAV4, then go ahead and hand it over to Tesla.

    Pretty simple and clear choice, really.

    a
     
  12. MikeR55

    MikeR55 Member

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    So far Tesla is 1k over everyone else
     
  13. MikeR55

    MikeR55 Member

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    Offers are in for the 2009 Rav 4: Carmax is $5k Tesla $4k Carvana $3600 Local Dealer $4600

    So guessing if I tried to sell myself could probably get $7k or so.

    Good news is- I am guaranteed the $5k for 7 days- so I'll get my Tesla Monday or Tuesday and then sell the used car in a few days and see if I have anyone that wants to buy for more than $5k
     

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