Trade-in value of '14 MS 85 for new 85D ...? ( Or sell outright )

[cgiGuy]

But... at least Carmax gave me credit for my supercharged engine.

 

[arijaycomet]

Yeah... I called the local CarMax store, they told me they CAN give me a value in person, but "expect it to be lower than I think" ... apparently they don't sell them, just go to auction. They don't sell Tesla cars on their lots (at least not anywhere in Midwest or that I can find on their website anywhere). LOL ...

Thanks for the feedback.. and LOL @ Supercharged

 

[arijaycomet]

So the trade-in value is actually pretty good after I analyzed it, but not what I need it to be. I went back and looked, my price was $85,500 for my car ($94,500 sticker price, less $9000 credit for inventory car). When you then reduce it by the tax credit the net price was $78,000 -- and Telsa is offering me just over $73,000 for the car which has 4,800 miles on it. Overall then just 6.5% loss in 4 months, not too shabby.

Someone could walk into a Tesla store right now and presumably find a car similar to mine, and pay what I paid (if they found one that was the same options/age/mileage). Based on that then the value they offered is quite reasonable. I'm not going to complain one bit....

However, having owned 4 different cars total last year (the 4th being this Tesla), and rolling negative equity a few times, my loan on this car is roughly MSRP. I'm actually currently in a position to buy myself out of SOME of the negative equity, but not all of it--- and I don't want to throw down tons of cash and also have my payment go up. So my hope was to basically have enough cash to break even on the car's trade-in value. Down the road that will/should happen (in 6-12 months once i've made more payments). Right now, that just is not yet the case.

Thanks to all those who helped participate with feedback in this thread... the lesson learned is that I need to keep this car a bit longer, and revisit in 6 or 12 months and see how my situation looks then...

 

[Cyclone]

That turned out pretty good. Glad to hear they were competitive in your case!

 

[shadowinstallz]

That is a really good deal ! I would take it

 

[arijaycomet]

That is a really good deal ! I would take it

I wish I could, but I don't have the cash to make it happen. If I took the deal as it sits right now, I'd have to roll negative equity into my new car and that was what I wanted to avoid. I did that 4x last year, and the wife was none too happy about it. For me to make something happen right now my hope/goal was to roll $0 negative into the new car.

To do that would drive my cost up $200/mo versus what I am paying right now, and that is with me shelling out $15k out of pocket (yes I am that upside down, plus the 85D that I've configured is $10k more MSRP than my 85). However, if I put the $15k on my loan right now, then chances are high that in 6 or 12 months I'd be in a situation where my equity would allow me to transition with no chance in monthly expense. And I'm "hung up" on that because of the wife. She's already not keen on the payment for this car LOL

Hopefully my car won't see much value chance in 6 months -- since that point technically it is still a '14 in '15, and the mileage would be the only delta. We shall see...

PS: Cyclone, it was 10:30 Pm last night before Ryan had a chance to call me... so don't expect his call just yet... but hopefully in a few days if not sooner...

 

[Cyclone]

PS: Cyclone, it was 10:30 Pm last night before Ryan had a chance to call me... so don't expect his call just yet... but hopefully in a few days if not sooner...

Thanks arijaycomet. We have had similar conversations like you and your wife have had, hence why we aren't yet in a Model S. Hopefully given the recent activity, Ryan can help us out.