Trade-in value update - 4k drop

[qiushengxy]

I placed MY order in March with M3 trade in. The trade-in value was quoted as 35K+ in March. Now I just received the VIN for the MY, but the agent refreshed the trade-in value of the M3 (the same mileage because I didn't drive during the pandemic), and the new quote is 31K only, 4k drop in two months!

Any advice/comments on this? I'm in WA.

 

[Fupresti]

Welcome to the world of post-COVID used are values. You may be able to get a quote from CarMax and have them match it, but I was told that policy is ending on June 1.

 

[KenYoung1]

I placed MY order in March with M3 trade in. The trade-in value was quoted as 35K+ in March. Now I just received the VIN for the MY, but the agent refreshed the trade-in value of the M3 (the same mileage because I didn't drive during the pandemic), and the new quote is 31K only, 4k drop in two months!

Any advice/comments on this? I'm in WA.

How long did it take to get the updated trade-in value? I called and they said they need to redo my trade-in value this morning and it should take few hours. The trade-in value in my account is still showing $0.

 

[Matsayz]

Another thread about this going on. The used car market is tanking. Go get a quote from Carvana or CarMax and see if Tesla will honor it. If they won’t then you’ll have to do the math and see if it’s worth the money to sell to Tesla or another company for sales tax purposes (if that’s a thing in your area)

Update trade-in value?

 

[Robocheme]

That's odd, my trade-n offer went up. Back at the end of March, it was 33.2K$, I resubmitted the request two weeks ago and it's now 35.5K$. I sold it on CL for 37.

2017 LR Model 3 with EAP, PUP, MSM, 16K miles, aero

 

[Akikiki]

How long? How many days is a trade in quote good for? I think, 30 days. And the price dropped last night on the 3, S, and X. Not sure about the Y.

 

[myMY808]

How long? How many days is a trade in quote good for? I think, 30 days. And the price dropped last night on the 3, S, and X. Not sure about the Y.

According to this: Tesla cuts prices across lineup, Model 3 now starts at $37,990 - Electrek

No change to the prices for the Y.

 

[Akikiki]

Thanks. That's why I thought I read. But if the price of the SX3 come down for new ones, then they are going to adjust the value they place on all trade ins even 3's for Y's.

 

[myMY808]

Thanks. That's why I thought I read. But if the price of the SX3 come down for new ones, then they are going to adjust the value they place on all trade ins even 3's for Y's.

To answer your other question, the trade in quote is valid for 30 days.

I have a 4Runner to either trade or sell -- their initial trade in offer was reasonable, but it's been way over 30 days, so I'm sure the hit will be significant. Might be better for me to sell privately of even see what Servco offers (should be no problem selling a 4Runner in Hawaii, right?).

 

[qiushengxy]

Welcome to the world of post-COVID used are values. You may be able to get a quote from CarMax and have them match it, but I was told that policy is ending on June 1.

I just made an appointment with CarMax. Hope to get a better quote from them.

 

[qiushengxy]

How long did it take to get the updated trade-in value? I called and they said they need to redo my trade-in value this morning and it should take few hours. The trade-in value in my account is still showing $0.

Two minutes after the call with the delivery agents, the new quote was updated in my Tesla account.

 

[qiushengxy]

Another thread about this going on. The used car market is tanking. Go get a quote from Carvana or CarMax and see if Tesla will honor it. If they won’t then you’ll have to do the math and see if it’s worth the money to sell to Tesla or another company for sales tax purposes (if that’s a thing in your area)

Update trade-in value?

I live in WA, and the sales tax for new cars is 10.4%. Without trade in, I have to pay 6k in sales tax. With trade in, it can save me 3k+ in taxes. Huge difference.

But now with the 4k drop in trade in quote, I lost my mind what to do... I may just cancel MY order and keep driving M3...

 

[severusweasley]

Two minutes after the call with the delivery agents, the new quote was updated in my Tesla account.

Do you have the contact number for the delivery agents? I have a quote from Carmax and trying to get my trade-in locked before June 1st. Haven't been successful going through Tesla chat.

 

[qiushengxy]

Do you have the contact number for the delivery agents? I have a quote from Carmax and trying to get my trade-in locked before June 1st. Haven't been successful going through Tesla chat.

It's someone in Bellevue WA service center. I called their main number and select #4 for delivery.

 

[severusweasley]

I had a trade-in offer of 23000 for my car from Tesla last March. As they're going to stop accepting carmax quotes after June 1st got a new quote from Carmax yesterday for 23000.
I sent it over to Tesla for a rate match and guess what? They dropped my trade-in value to $10,067!!
I reached out the delivery team for an explanation, it gets weird. They found another car with the same VIN as mine in Massachustes (I'm from Seattle) with about 10,000 miles over mine.
The advisor asked me not to contact them about this again and sell my car to Carmax if i want to.

So much for being the best automobile company in the world, if they treat their customers as hostiles.

I was obsessively checking my order page every day for the last 3 months to end up with a salty experience, I've cancelled my reservation, guess it bumps up someone up the ladder. Good luck!

 

[KenYoung1]

Two minutes after the call with the delivery agents, the new quote was updated in my Tesla account.

Mine is still showing $0 trade-in value after a day. Called Tesla and a lady said it may take a few days to re-value the trade-in.

 

[qiushengxy]

I was obsessively checking my order page every day for the last 3 months to end up with a salty experience, I've cancelled my reservation, guess it bumps up someone up the ladder. Good luck!

I'm on the same boat with you. If I get a better offer from CarMax and Tesla doesn't match, I'll just cancel my order as well. Spent so much time waiting for the MY and now I'm so disappointed.

 

[rxlawdude]

I'm on the same boat with you. If I get a better offer from CarMax and Tesla doesn't match, I'll just cancel my order as well. Spent so much time waiting for the MY and now I'm so disappointed.

You can't blame Tesla for this. Sorry the depreciated trade-in ruins your purchase.

 

[Akikiki]

I agree with @rxlawdude. Trade-in values are market driven - not just a Tesla decision. Its not a "brother-in-law" sale/deal where the used car manager wants to give you more than its market value's worth. And its not going to hurt their feelings when you go some place else for a better deal.

 

[DDrawer]

True we can't fault them for lowering a trade in value due to market change, but we certainly can fault them for the awful customer service the Severusweasley received. A simple, "hey we cannot match that Carmax rate and I would encourage you to sell the car their rather than use our trade service" Would be much better than "Don't bother us with this trade again, go sell it to carmax". That's trash service, and I don't blame him for turning away from the brand because of it.

I'll probably just hold only my trade and sell it privately or wait a couple months until the market swings back and then sell it to Carmax if Tesla can't give me what they offered back in March (not expecting them to). But I'm fortunate enough to be able to just put down the cash instead of needing my trade to make the sale happen, not everyone might be.