Hey Folks, Does anyone know if trading in a car with plates from a different state matter in terms of sales tax reduction if we do our trade in with Tesla? I have a cross state move coming soon and my Tesla delivery could be soon after I move. So want to see if it's worth shipping the vehicle for the sales tax benefit or not.
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Trade In Value from Tesla? WTF?
- Thread starter bdaviskc
- Start date
ChrgdTeCHick
Member
I believe the tax benefit is based on the state you purchase/register your new vehicle as it reduces the taxable amount of the new vehicle
JediJD
Member
Probably like any dealer at the end of the day...very recent low mileage and highly optioned cars will sell quickly and Tesla will offer a premium. Higher mileage and slightly older models will not sell as quickly through the network and Tesla will still have to fix them...so it won't be as enthusiastic with offers. My 2017 MS, fully optioned with about 55k miles was offered originally mid 40s as a trade and sold locally for not quite $60k
Tax savings is where it’s at. Tesla gave me 62000 for my 2021 Model y. A few other places offered me about 1200 more but with not paying the full tax on my 2022 Model Y Performance I only paid 600 in tax instead of 5000 tax. When you do the math it’s like I got more than $66,000 for trade in value. I don’t think a lot of people understand this part
Not every state does this, something to keep in mind.
Tesla is estimating $59,400 for my 6 month old 2022 MY with 5k miles on it, Caravan has offered $10k more. The estimated tax on a 2022 MYP is $5300, so in my example, I would be leaving $4700 on the table and still paying tax on about $14k difference. You must have sold your 2021 at the top of the market.
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Without knowing which specific model yours was, Tesla has a few used 2017 Model S's listed that were presumably trade-ins and the lowest price is $64k for a 2017 75D with 44k miles
New & Used Electric Cars | Tesla
Find new and used Tesla cars. Every new Tesla has a variety of configuration options and all pre-owned Tesla vehicles have passed the highest inspection standards.
www.tesla.com
E90M3Jerez
Member
For me, I will certainly make up for the tax break selling my trade to Cargurus,private,etc. it’s a no brainer for me
Midnightsun
Active Member
Will chime in with my experience. They offered me $25,000 for my 2017 Mercedes GLC 43AMG. Ended up selling it locally to the Hyundai dealer who offered me $42,500 without buying a car from them. Tesla was obviously not interested in taking the trade in. I understand perfectly a few thousand plus or minus however what Tesla offered me was ridiculous, almost insulting.
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