Welcome to Tesla Motors Club
Discuss Tesla's Model S, Model 3, Model X, Model Y, Cybertruck, Roadster and More.
Register

Trade In Value from Tesla? WTF?

jeffbco

Member
Jun 7, 2020
688
403
Austin, TX
Talk to experience car sales reps and they will tell you that they make more money buying cars than selling cars - looks like Tesla has bought into this.
 

atheurer

Member
Dec 5, 2020
20
6
Austin, TX
I recently traded in my 2018 Volvo XC90 for a model Y, and the experience was good. In fact Tesla offered $41,500, 1.5K more than the local Volvo dealership where I bought the XC90.

Three years ago when I bought that XC90, we were also considering a new model X, and the person at Tesla described how the trade in works (we had a Toyota Highlander at the time to trade in). He stated that these trade-ins go directly to auto wholesalers, where they are bid on once you have uploaded the pictures and info. There are couple online wholesaler auctions like this (as far as I know). Tesla has no interest in making money on the used trade ins. They just want to get rid of it as soon as possible. Their model is quite a bit different from a typical dealer, where they want to flip it and make money.

As for other's trade-in experiences, not much I can offer, other than European luxury brands like Audi, BMW, and Mercedes are some of the highest depreciating vehicles around, especially as they go out of warranty. IMO, I would never own any of those brands outside of a bumper to bumper warranty, and ideally I would only lease one. This is what ultimately pushed me to get rid of the XC90 right now, instead of waiting longer (in spite of having a extended warranty to 8 years and 100k miles). I know that after the first 3 years, the value is going to drop like a rock.
 

Thomaswest

Member
May 8, 2018
15
8
Vermont
I traded in my 2020 Model Y to Tesla and was given $56,400. Very early VIN (2000’s), pearl white, black interior, fsd, induction, tow hitch w less than 12k miles.

While I agree they aren’t in the business of dealing with used cars, I thought that was a pretty fair trade in amount.
 

imola.zhp

Member
Jul 13, 2020
482
319
Memphis
So I guess Tesla isn't in the game to take trade-ins? Submitted a request to trade in my 2015 Audi S4 (29k miles and well optioned, no accidents, issues etc) on a Model Y performance and was offered $14k?????? Based on my research, was expecting closer to 2x that amount. Just to be sure, also checked on Carvana and their 'price in 2 minutes algorithm' offered me $27k. What am I missing here? (No loan on the vehicle--free/clear title)

You answered your own question in your post. Your not missing anything.

When you arrive at a Tesla store you don’t see a big “USED CARS” section because they are not interested in selling used cars. Anything they take in on trade goes straight to auction... unless it’s a Tesla. Those become loaners wile being listed for sale.
 

BMW740iL

Active Member
Nov 9, 2019
1,382
798
Amsterdam
I traded in my 2020 Model Y to Tesla and was given $56,400. Very early VIN (2000’s), pearl white, black interior, fsd, induction, tow hitch w less than 12k miles.

While I agree they aren’t in the business of dealing with used cars, I thought that was a pretty fair trade in amount.
what did you trade it in for?
 

zannman

Member
May 15, 2019
141
116
Ohio
Appreciate all the input here. I am in Kansas, so there is significant value from the tax savings (nearly 10% rate here in Johnson County) on a trade. Bummer they aren’t really even in the ballpark which makes my purchase more difficult and costly. Still cross shopping against another Audi. My idea to see if Tesla made me an offer I felt was good enough to skip a return visit to the Audi dealer looks to have failed. Again, appreciate the comments here.
I looked but didn't see someone say this specifically. Tesla will match a CarMax quote for trade, you're just burdened with going to get it. In my case it was a $2K difference and I got to keep the sales tax benefit.

[EDIT] I'm seeing instances where they may have stopped the CarMax match in June 2020. Can't hurt to ask.
 

TespaceX

Member
May 1, 2020
505
843
CA
I looked but didn't see someone say this specifically. Tesla will match a CarMax quote for trade, you're just burdened with going to get it. In my case it was a $2K difference and I got to keep the sales tax benefit.

[EDIT] I'm seeing instances where they may have stopped the CarMax match in June 2020. Can't hurt to ask.

Was told by Tesla at the end of December when we inquired that they do not match trade-in values, even on their own Teslas. Actually suggested that we sell to Carmax.
 

ChrgdTeCHick

Member
May 7, 2017
352
184
Florida
I got a good one for you... I know Tesla doesn't want trades, I traded in my ICE when I got my first Tesla and it was a good experience, matched CarMax but they weren't too low, and the tax break ended up being better to trade. Now I have an order in for a Y and started looking around for offers.

Sept 2020 I rcvd a trade in offer from Tesla for $24.5k on my S
Feb 2021 Tesla offer.... $18k
Feb 2021 Carvana and Vroom... $24k

$6500 less from Tesla just 5 months and an extra 262 miles since their September offer.

I was hoping to trade in for the tax break again, even if the break was a little less than the difference of selling private to avoid the hassle. But $6500 less.... that's a bit much...
 

Gregor007

New Member
Apr 23, 2021
1
2
Hollywood
So I guess Tesla isn't in the game to take trade-ins? Submitted a request to trade in my 2015 Audi S4 (29k miles and well optioned, no accidents, issues etc) on a Model Y performance and was offered $14k?????? Based on my research, was expecting closer to 2x that amount. Just to be sure, also checked on Carvana and their 'price in 2 minutes algorithm' offered me $27k. What am I missing here? (No loan on the vehicle--free/clear title)
Bought a 2020 model X December 27th for $92K. Requested a trade in value on May 7th form Tesla. They offered me $59,200. Car Max offered $76k, Porsche and Audi offered $79. Needless to say this will be my last Tesla. Tesla service is also pathetic in Fort Lauderdale. Check out te Taycan, Etron and Mustang Mach E. Mutch better build quality and service.
 

imola.zhp

Member
Jul 13, 2020
482
319
Memphis
Bought a 2020 model X December 27th for $92K. Requested a trade in value on May 7th form Tesla. They offered me $59,200. Car Max offered $76k, Porsche and Audi offered $79. Needless to say this will be my last Tesla. Tesla service is also pathetic in Fort Lauderdale. Check out te Taycan, Etron and Mustang Mach E. Mutch better build quality and service.

Less than 6-month old high-end car, what did you expect? Let me guess, you expected to get $91,500?

GTFO
 
  • Like
Reactions: whisperingshad

imola.zhp

Member
Jul 13, 2020
482
319
Memphis
I'm sure they did want that much - and also a refresh happened and we all know the older models will drop in value. Brian from i1Tesla was really ticked about his trade in offer from Tesla for his X as well...

That guy was fun to watch for a hot second. Cry me a river, you make YT videos for a living and your Tesla trade offer wasn't enough. If he can continue to make popular videos with the updated X, he'll easily make that money back.
 

JasonN

New Member
Aug 17, 2021
1
0
USA
I tried to trade in my truck and had a similar experience. They offered about 4k less than trade-in value, but the truck had some small dents and dings and worn tires, so I didn't think much of it. I decided not to trade it in, and spent about $6k fixing it up. About a month later I changed my mind and submitted new pictures to trade it in. This time they offered me $8k less than trade in value.
 

imola.zhp

Member
Jul 13, 2020
482
319
Memphis
I tried to trade in my truck and had a similar experience. They offered about 4k less than trade-in value, but the truck had some small dents and dings and worn tires, so I didn't think much of it. I decided not to trade it in, and spent about $6k fixing it up. About a month later I changed my mind and submitted new pictures to trade it in. This time they offered me $8k less than trade in value.

Tesla doesn't want your non-Tesla trade, they just dump them at auction. See what Carvana, Carmax or Vroom will offer you. You might be surprised.
 

AZSTAD

Member
Sep 13, 2018
16
12
Phoenix, AZ
Great thread. Thx. I'm glad I removed my trade-in from the mix. Then instantly got my VIN and EDD.

I think Carvana is the way to go. Had a good friend sell to Carvana and he said it was a very simple transaction and pick up of his vehicle.
 
  • Like
Reactions: imola.zhp

jordanair45

2019 Model 3 SR+ w/ FSD
Mar 28, 2012
232
186
Bay Area
Great thread. Thx. I'm glad I removed my trade-in from the mix. Then instantly got my VIN and EDD.

I think Carvana is the way to go. Had a good friend sell to Carvana and he said it was a very simple transaction and pick up of his vehicle.
Just did this, thanks.

Let's see how it goes. I'm more than convinced my trade in was holding up my order.
 

Products we're discussing on TMC...

About Us

Formed in 2006, Tesla Motors Club (TMC) was the first independent online Tesla community. Today it remains the largest and most dynamic community of Tesla enthusiasts. Learn more.

Do you value your experience at TMC? Consider becoming a Supporting Member of Tesla Motors Club. As a thank you for your contribution, you'll get nearly no ads in the Community and Groups sections. Additional perks are available depending on the level of contribution. Please visit the Account Upgrades page for more details.


SUPPORT TMC
Top