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Trade In Question

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Before I put my order on hold for various reasons, Tesla sent me an estimated trade in value for my 21 Toyota Venza of $30,200.

I just went to a local Toyota dealer who offered me $32,000

Carmax offered $28,500 and Carvana offered $30,900.

Given other peoples posts regarding Tesla final offers sometime being lower than their initial valuations, I'm partial to taking the 32K offer, but wondering what folks here think, given all this.

TIA,
Richard
 
Purchasing a vehicle is cleaner without a trade in (tesla or otherwise). Even if you are trading in a vehicle, most advice would tell you to separate the transactions in your mind, because selling a vehicle and buying one are two different transactions.

At a traditional dealer, it is very common for them to give a higher price on a trade in, especially if they think they are selling you a car, because one of the fastest ways to upset someone in a car deal is to offer them a low price on their trade in. If a dealer is selling you a car and taking your trade in back, they will generally give you a higher price on the trade in, and then try to take it back out of the new car.

Said another way, at a traditional dealer, if you get top dollar for your trade in and are buying a car from them, you probably left money in the new car side of the deal. Separating them is better because dealers do those deals all day, and also plan on finance credits, etc.

Tesla doesnt do any of that, and just sends the car to auction (they are taking the trade in for convenience in other words) so its better to separate out the selling of the car from the buying of it, if you can and it makes sense. In this case it sounds like it makes sense, so if (AND THIS IS A BIG IIIIIFFFFFFF) you can sell the car and do without it while you wait for the Tesla deal to be finalized, even if there are a couple of delays, then do that.

If you cant ("I only have this car and need to get to work, and dont want to rent a car / take public transportation" ) consider that into the mix. Also, where I am (CA) does not give tax credit on trade in, so I always ignore that, but lots of states do, so if yours does, you need to account for that as well. If your state does, then you may see the deal is closer while trading into tesla than you think.. unless you are going to put the deal on hold for longer than Tesla is going to hold the price offer on trade in.
 
Purchasing a vehicle is cleaner without a trade in (tesla or otherwise). Even if you are trading in a vehicle, most advice would tell you to separate the transactions in your mind, because selling a vehicle and buying one are two different transactions.

At a traditional dealer, it is very common for them to give a higher price on a trade in, especially if they think they are selling you a car, because one of the fastest ways to upset someone in a car deal is to offer them a low price on their trade in. If a dealer is selling you a car and taking your trade in back, they will generally give you a higher price on the trade in, and then try to take it back out of the new car.

Said another way, at a traditional dealer, if you get top dollar for your trade in and are buying a car from them, you probably left money in the new car side of the deal. Separating them is better because dealers do those deals all day, and also plan on finance credits, etc.

Tesla doesnt do any of that, and just sends the car to auction (they are taking the trade in for convenience in other words) so its better to separate out the selling of the car from the buying of it, if you can and it makes sense. In this case it sounds like it makes sense, so if (AND THIS IS A BIG IIIIIFFFFFFF) you can sell the car and do without it while you wait for the Tesla deal to be finalized, even if there are a couple of delays, then do that.

If you cant ("I only have this car and need to get to work, and dont want to rent a car / take public transportation" ) consider that into the mix. Also, where I am (CA) does not give tax credit on trade in, so I always ignore that, but lots of states do, so if yours does, you need to account for that as well. If your state does, then you may see the deal is closer while trading into tesla than you think.. unless you are going to put the deal on hold for longer than Tesla is going to hold the price offer on trade in.
WELL,
  1. We have 2 cars and my wife is somewhat bedridden at the moment, so one car won't be a problem.
  2. No tax credits in NY for trade ins.
  3. The 32k offer is solid for 7 days
SO, Monday I'll remove the hold, sell the car to the dealer midweek, and I expect the Tesla pickup window will occur mid or end of the week, leaving me with only a few days or less with one car.

Thanks for your detailed response, I see now that this really is a no-brainer, and I don't have to worry about what Tesla will offer. PHEW.

Plus, I'll get the car sooner than I thought. Woo-hoo!
 
Before I put my order on hold for various reasons, Tesla sent me an estimated trade in value for my 21 Toyota Venza of $30,200.

I just went to a local Toyota dealer who offered me $32,000

Carmax offered $28,500 and Carvana offered $30,900.

Given other peoples posts regarding Tesla final offers sometime being lower than their initial valuations, I'm partial to taking the 32K offer, but wondering what folks here think, given all this.

TIA,
Richard
Consider this. Take Tesla's trade in value and subtract it from new car price and see what the tax is. Now sell your car to Toyota buy the Tesla. Is the tax lesser than if you sold it to Toyota or not. If not trade in to Tesla
 
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I will attempt to clarify buy unless their lawyers missed something they make no mention of tradeins. Maybe Illinois is weird that way. Do you even have a state rebate?
This thread is about trading in a vehicle to Tesla, vs selling via a separate transaction . The op has claimed that their area of NY does not give a tax credit on the price difference between the new purchase and the vehicle being traded in. You seemed to have missed that, which is why I quoted the OP in my original reply to you. You then posted a link to my reply showing a rebate, which has nothing to do with trading in a vehicle.

This is your post for reference:

Consider this. Take Tesla's trade in value and subtract it from new car price and see what the tax is. Now sell your car to Toyota buy the Tesla. Is the tax lesser than if you sold it to Toyota or not. If not trade in to Tesla

Since the OP's location doesn't allow for a credit, they should sell it to highest bidder. It just depends on the value they put on convenience, as a single transaction is far easier than two.
 
This thread is about trading in a vehicle to Tesla, vs selling via a separate transaction . The op has claimed that their area of NY does not give a tax credit on the price difference between the new purchase and the vehicle being traded in. You seemed to have missed that, which is why I quoted the OP in my original reply to you. You then posted a link to my reply showing a rebate, which has nothing to do with trading in a vehicle.

This is your post for reference:



Since the OP's location doesn't allow for a credit, they should sell it to highest bidder. It just depends on the value they put on convenience, as a single transaction is far easier than two.
I never said they don't give you the credit on a tradein. I am attempting to find out if they do.