Trade In Process

[TomServo]

Going to order a new M3 in the next month or so but have a question on how Tesla handles trades. I know they have a trade in program but my question is on the timing/process.

1. Can I get my trade appraised before I click the BUY button? I want to know how much my trade is worth before committing to order?

2. If I'm not happy with Tesla's offer and go to CarMax and they offer me more will Tesla accept/match that?

3. If I sell to CarMax will Tesla deduct that amount from my sales price giving me that sales tax advantage as if I had traded my car to Tesla? I live in Illinois and that's how a trade is handled.

Thanks in advance.

 

[CravenRx]

1. You can go to Tesla.com/tradein to get the quote.
2. I don’t think they will match other offers any longer.
3. No that would be as if you were putting that amount as a down payment but wouldn’t be viewed the same as trading it for taxes.

I think they basically use kbb.com and give you the “good” condition trade in offer

 

[AandWsDad]

If you do a search on this forum for "frugal", there is a guide that is dated at the end of March that says Tesla will in fact match Carmax offers. I am going into my local Tesla store next Saturday so I can confirm personally then.

 

[TomServo]

If you do a search on this forum for "frugal", there is a guide that is dated at the end of March that says Tesla will in fact match Carmax offers. I am going into my local Tesla store next Saturday so I can confirm personally then.

Looking forward to your follow up.

 

[AandWsDad]

One thing I still have a question about is Carvana. When you go to Carmax, they give you a physical sheet of paper with their offer on it and how long it is good for, which you could then take to Tesla to match. With Carvana, you enter your information online, and they give you a quote on their website, but they have no way of knowing if the description of your car that you enter is accurate until they show up the next day or so to pick it up. You could print out the quote from the Carvana site (it is NOT formatted well for printing), but will Tesla accept that and match? Or is Tesla fine with whatever you enter on the site and you can just show them the quote from webpage and they match that?

 

[TomServo]

So I CAN get my car appraised before I click BUY? Does anyone know how long that value is good for? I know CarMax gives you 7 days.

Thanks

 

[omegafiler]

Yes, you can get an appraisal before placing your order. Just make sure you have an account created with your info updated. Then call Tesla sales directly. They will request some basic info and forward to their Remarketing department. Then within 24-48 hours, they should provide you an "official" trade-in offer via e-mail (PDF) that's good for 30 days or 1,000 miles. In my case, this offer was about $1,100 better than the online instant quote tool. I suspect that's because it didn't show I had AWD. It was still on the low-end of KBB "average" trade-in estimate.

I haven't gone to Carmax yet. But if I decide to get serious and move forward, I'd definitely get that second opinion. Even though I don't expect Carmax to provide much more.

 

[TomServo]

omegafiler, this is exactly the info I was looking for. Appreciate your time and assistance. Cheers

 

[UngaBunga1989]

Yes, you can get an appraisal before placing your order. Just make sure you have an account created with your info updated. Then call Tesla sales directly. They will request some basic info and forward to their Remarketing department. Then within 24-48 hours, they should provide you an "official" trade-in offer via e-mail (PDF) that's good for 30 days or 1,000 miles. In my case, this offer was about $1,100 better than the online instant quote tool. I suspect that's because it didn't show I had AWD. It was still on the low-end of KBB "average" trade-in estimate.

I haven't gone to Carmax yet. But if I decide to get serious and move forward, I'd definitely get that second opinion. Even though I don't expect Carmax to provide much more.

I just helped my Dad sell two cars (a Volt and an Alfa Giulietta) towards an M3AWD and Vroom was 10% higher in value for both cars than Tesla's quotes. Tesla would not match...

 

[omegafiler]

I just helped my Dad sell two cars (a Volt and an Alfa Giulietta) towards an M3AWD and Vroom was 10% higher in value for both cars than Tesla's quotes. Tesla would not match...

Hmm, never used them before, but may have to see what they'll offer. Just gotta do the math comparing their purchase offer vs tax savings. Most states only charge sales tax on the net purchase cost (new car value less trade in). Which can be quite a bit if the trade is worth a lot.

 

[Ash23T]

2. If I'm not happy with Tesla's offer and go to CarMax and they offer me more will Tesla accept/match that?

Yes, I took delivery March 29 and they matched my CarMax quote no problem. Just called in and said I had a better offer and had to email them a copy of the offer. It was applied to my account before delivery.

I wouldn’t get a CarMax quote until 3-5 days before delivery. It’s only good for 7 days and they will take $500 off the original offer if you have to get it reappraised.

 

[UngaBunga1989]

Hmm, never used them before, but may have to see what they'll offer. Just gotta do the math comparing their purchase offer vs tax savings. Most states only charge sales tax on the net purchase cost (new car value less trade in). Which can be quite a bit if the trade is worth a lot.

Yes, here in NJ we do not pay sales tax on EV purchases and they never need to be inspected. Perhaps the only two great things tax-wise and administratively going on in our state. LOL.

 

[AandWsDad]

I have a 2012 Volt, no accidents, 83k miles. Vroom quoted me $5k, Carmax quoted me $6k, and Carvana quoted me $7300 (that may be because I am in the Atlanta area and I believe Carvana has a big presence here). I went to two different Tesla stores today and they both said they would NOT match Carvana, but would match Carmax. I did not ask about Vroom since they were the lowest anyway.

 

[Brentonator]

I successfully got a CarMax quote match that I was told would be valid 30 days from the time my advisor matched it. I imagine the advisors are allowed some lee-way with the trade-in value based on known-good quotes from third parties. I momentarily considered selling private party before I didn't want to deal with the time investment and stress compared to handing over keys.

 

[CaliM3]

I successfully got a CarMax quote match that I was told would be valid 30 days from the time my advisor matched it. I imagine the advisors are allowed some lee-way with the trade-in value based on known-good quotes from third parties. I momentarily considered selling private party before I didn't want to deal with the time investment and stress compared to handing over keys.

I have the same dilemma, selling to private party or not. Tesla's quote was at the bottom of Kelly Blue Book "Good" rating. Not sure if Carmax would do better. Do you mine sharing your quote from CarMax vs Tesla?

 

[JulienW]

I have the same dilemma, selling to private party or not. Tesla's quote was at the bottom of Kelly Blue Book "Good" rating. Not sure if Carmax would do better. Do you mine sharing your quote from CarMax vs Tesla?

Just go to a Carmax and get a quote. It is pretty painless, there is NO obligation and take less than an hour with an appointment (can be done on-line and confirmed with a text, no phone talking). I did and got $590 higher quote than Tesla. While $590 isn't a game changer it's also not bad for 1 hour of "work" that was just walking around the Carmax lot. I then sent my Delivery Specialist an email with scan of the quote (no call needed) and she changed it on my Tesla Account that day.

 

[Tholland]

Just go to a Carmax and get a quote. It is pretty painless, there is NO obligation and take less than an hour with an appointment (can be done on-line and confirmed with a text, no phone talking). I did and got $590 higher quote than Tesla. While $590 isn't a game changer it's also not bad for 1 hour of "work" that was just walking around the Carmax lot. I then sent my Delivery Specialist an email with scan of the quote (no call needed) and she changed it on my Tesla Account that day.

Lucky you, I’ve been waiting 3 freaking weeks for a trade in quote I went to CarMax and got my quote because Tesla said it would 1-3 days and the trade info should be done. Now it’s been 3 weeks. And that quote is now passed. I swear it’s a nightmare for some and smooth for others.

 

[JulienW]

Lucky you, I’ve been waiting 3 freaking weeks for a trade in quote I went to CarMax and got my quote because Tesla said it would 1-3 days and the trade info should be done. Now it’s been 3 weeks. And that quote is now passed. I swear it’s a nightmare for some and smooth for others.

Did you email a copy of the quote to your Delivery Adviser? Did you follow up email and ask why? Then did you follow up call? I would be something like "I'm logged into my Tesla Account right now please make the changes to my trade in value so I can refresh and see them".

 

[Tholland]

Did you email a copy of the quote to your Delivery Adviser? Did you follow up email and ask why? Then did you follow up call? I would be something like "I'm logged into my Tesla Account right now please make the changes to my trade in value so I can refresh and see them".

I’ve done all of that. I’ve emailed called texted and even requested another quote by changing the car. Nothing. I swear our first model 3 went butter smooth this M3P has been nothing but the shits from the beginning. I’m literally on the fence of cancelling the order and keeping my CTR

 

[spincel]

My experience with the current trade-in process is not smoothly like I expected. Before the order process, I quoted my car but did not actually apply that into the order. During the order, when adding my car to the trade-in portion, it was actually lower by about $60. Somehow they rounded the value down. Then I went to Carmax expecting to have them beat Tesla. Turned out they were actually less than Tesla for about $800, even though my car can be listed as very good with low mileage. So I decided just to go with Tesla since they can take care of my current outstanding payoff, considering that I would have to do extra work for that if I went with private party, especially since I have limited time until the tax rebate deadline for personal reason. Once the trade-off info was in the account, I had to wait 2 days for them to add the payoff quote, which I gave them directly both through the delivery specialist and the sale advisor. Never had anyone contacted me regarding about the trade-in and I was the only person that had to initiate the contact with them to expedite the process.