Trade in Value Offer expired the day before delivery

[NapTownPA]

So I am waiting for a call back from Tesla right now. I am set to pick up my Model Y tomorrow at 1030am and I just received an email telling me to update my trade in offer because the previous offer expired. I have already signed the loan agreement for my previous offer amount.

My manage order page is telling me to enter the mileage so it can give me a new offer for my trade in. If I do this and it offers me less than my loan agreement is no longer correct and I would owe more on the MY.

Hopefully I will hear back soon. Any one have anything like this happen?

 

[Hoowzer]

It could go either way - could be in your favor, could be against it. When you submit a trade in offer they very clearly call out the offer they gave you is only valid for ~30 days I think.

You could always try to sell it via other third party sites and likely get more than tesla anyways, or if you're locked into your loan and don't have cash to cover the cost of your trade in immediately then call your SA and see what they can do.

 

[NapTownPA]

@Hoowzer I understand the 30 day thing but look what the email I received actually said:

Your Trade-In Offer has Expired
Your 7 day trade-in offer provided on October 29, 2020 has expired.
Sign into your Tesla Account to provide an updated odometer so that your vehicle can be re-evaluated.

That is copied and pasted from my email. That makes no sense for many reasons, the most obvious is that we aren't 7 days out from Oct 29th.
My SA is working on it and told me to put in the new odometer reading (which is ~600 miles more). The new value is $3200 less than before.

This is very frustrating because I signed the loan agreement today and finalized everything to be read. Now the night before I am supposed to take delivery I am told I will need to pay an additional $3200. I certainly hope my SA can fix this.

 

[Hoowzer]

@Hoowzer I understand the 30 day thing but look what the email I received actually said:

Your Trade-In Offer has Expired
Your 7 day trade-in offer provided on October 29, 2020 has expired.
Sign into your Tesla Account to provide an updated odometer so that your vehicle can be re-evaluated.

That is copied and pasted from my email. That makes no sense for many reasons, the most obvious is that we aren't 7 days out from Oct 29th.
My SA is working on it and told me to put in the new odometer reading (which is ~600 miles more). The new value is $3200 less than before.

This is very frustrating because I signed the loan agreement today and finalized everything to be read. Now the night before I am supposed to take delivery I am told I will need to pay an additional $3200. I certainly hope my SA can fix this.

Hmm typically if you're within 1K miles of what you originally quoted then tesla should still honor the original trade in value. I'd call you SA and push back.

 

[NASASpaceXlove]

This is the very reason I haven’t put a single mile on my trade in since my original valuation. Good luck!

 

[MP3Mike]

My SA is working on it and told me to put in the new odometer reading (which is ~600 miles more). The

You drove ~600 miles in less than two days on a vehicle you were trading in?

 

[NapTownPA]

@MP3Mike No, thats the thing I didnt do any valuation on 10/29. My order was placed on 9/28. Those 600 miles have been over several weeks.

 

[NASASpaceXlove]

I still don’t see how 600 miles could change your valuation that much, regardless if it was 2 days or several weeks. That’s just wrong.

 

[CapeOne]

@Hoowzer I understand the 30 day thing but look what the email I received actually said:

Your Trade-In Offer has Expired
Your 7 day trade-in offer provided on October 29, 2020 has expired.
Sign into your Tesla Account to provide an updated odometer so that your vehicle can be re-evaluated.

That is copied and pasted from my email. That makes no sense for many reasons, the most obvious is that we aren't 7 days out from Oct 29th.
My SA is working on it and told me to put in the new odometer reading (which is ~600 miles more). The new value is $3200 less than before.

This is very frustrating because I signed the loan agreement today and finalized everything to be read. Now the night before I am supposed to take delivery I am told I will need to pay an additional $3200. I certainly hope my SA can fix this.

I believe initial pre-order trade estimates are valid for 7 days but final offers are good for 30 days or 1,000 miles. The email probably should have said, "Your Final 30 day trade-in offer provided on....".

Both of these are kind of meaningless if a customer doesn't take delivery within 30 days, especially if Tesla is going to dramatically change the trade offer even a day after it expires. 600 miles should NOT lower the value $3,200.

 

[Nosken]

If you hit the brick wall---maybe you could ask for extended service agreement or a discount on FSD...or some accessories. In 2017 I was misquoted on my Model S lease return--they did extended Warranty on my new Model S.

 

[MP3Mike]

@MP3Mike No, thats the thing I didnt do any valuation on 10/29. My order was placed on 9/28. Those 600 miles have been over several weeks.

Ok, so the trade-in offer was more than 30 days old and expired.

 

[rafthma]

@Hoowzer I understand the 30 day thing but look what the email I received actually said:

Your Trade-In Offer has Expired
Your 7 day trade-in offer provided on October 29, 2020 has expired.
Sign into your Tesla Account to provide an updated odometer so that your vehicle can be re-evaluated.

That is copied and pasted from my email. That makes no sense for many reasons, the most obvious is that we aren't 7 days out from Oct 29th.
My SA is working on it and told me to put in the new odometer reading (which is ~600 miles more). The new value is $3200 less than before.

This is very frustrating because I signed the loan agreement today and finalized everything to be read. Now the night before I am supposed to take delivery I am told I will need to pay an additional $3200. I certainly hope my SA can fix this.

Did Tesla honor the original trade in value? I am thinking of doing the same trade in and would appreciate your experience.

 

[jeremymc7]

Only valid 30 days. This is common since delivery times can often exceed 30 days. Almost best to place an order when delivery times are below 3 weeks. That said even if you tried to time it you’re car would actually still declined in value. I had the same issue. Missed by a few days and it lowered my trade in $1500US.

 

[rafthma]

How many more miles you added after your trade in estimates? $1500 is not a small number. Almost feel Tesla is taking advantage of the trade in.

Only valid 30 days. This is common since delivery times can often exceed 30 days. Almost best to place an order when delivery times are below 3 weeks. That said even if you tried to time it you’re car would actually still declined in value. I had the same issue. Missed by a few days and it lowered my trade in $1500US.

 

[davraker]

I had something similar, post 30 days with an additional 300 miles. -$800. Not as much $, but still sucks.

 

[jeremymc7]

How many more miles you added after your trade in estimates? $1500 is not a small number. Almost feel Tesla is taking advantage of the trade in.

Can’t say exactly but my daily to work is under 5 miles. And I don’t put a ton of evening or weekend miles on either. So honestly it was likely under 200 miles.

Since they never drove, turned on, or even inspected the car I think it was excessive as well and just a way to shake a few extra bucks out of me.

All that said it was an 8 year old Audi that was $100k when new. Somewhere between $500-$1000 would have been more responsible. Either way I was happy to get my Tesla and even happier to get out of Audi. I’d been wanting to replace it for years but just kept holding off.

 

[NapTownPA]

So...

Resolution:
I went to my Tesla Service Center Saturday morning for my delivery. My SA told me my 30 day valuation expired and that the email was wrong and just said 7 day for some reason. He said there was nothing he could do. He suggested I go to Carmax and get a buy out price from them. So I decided to drive to carmax and prayed he figured it out the whole way there.

While I was sitting at Carmax with the rep he called me back and said he got everything figured out and was able to get them to give me my old trade in value. I was ecstatic. So took delivery Saturday. All is well!

 

[qdeathstar]

My trade in offer was 4 months old and they still honored it....

 

[CapeOne]

Just a word of advice regarding trade/price offers when comparing what you are getting from the retailer you are buying from versus selling your trade to another retailer or privately. Most states give you a sales tax "credit" when trading in a car e.g., if you are buying a $60k car and trading a $40k car, the sales tax is based on the difference between $60k and $40k and not on the full $60k. If sales tax is 6%, for example, then to make up the difference selling privately or to a different retailer, you would need to get more than $42,400 elsewhere. Otherwise, at least for convenience, you might as well trade where you are buying the new car. The higher the sales tax percentage, the higher the potential sales tax "credit" amount.

 

[davraker]

The tax difference was the main reason a trade to Tesla made sense for me....that and having transportation to pick up my Y.