Amp Dup
Member
Well, I just listed my MX 75D on Autotrader for sale by owner. No inquiries yet so I was thinking about trading it in on MY I have on order. This thread has convinced me to fuggedaboudit! Thanks.
-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
Trade-in value update - 4k drop
- Thread starter qiushengxy
- Start date
Uncle Paul
Well-Known Member
For those of you gettting bent out of shape over low Tesla offers, I would imagine that ICE resale values are only going to get even more depressed over time. Hertz is dumping 50,000 or so onto the market, and auction houses are not going to be doing the volume they did before due to Covid Restrictions.
Problem is not with Tesla, but with the screwed up market for ICE used cars.
One way that Tesla is reacting to this reality is by reducing their own cars list prices by up to $5,000 on everything except the supply restricted Model Y. Y production has not yet reached the volume necessary to become profitable this early into their production ramp up.
The Y is currently perhaps the hottest car in the automotive marketplace. Second might be the new mid-engine Corvette. Gonna be hard pressed to get significant discounts on such cars, with long waiting lines.
All over the World, parking lots are being filled up with un-sellable cars from the Legacy producers. They are forced to stockpile them until their dealerships can get re-opened and move them out. Gonna be bargains a-plenty to reduce that inventory. Low interest rates, Zero Money Down, Low lease rates, Make your first 6 payments deals, etc. This will put downward pressure on used cars as well.
Problem with selling new ICE cars is that there is really very little difference than the 3 year old ones being traded in.
It's a new automotive World out there.
Problem is not with Tesla, but with the screwed up market for ICE used cars.
One way that Tesla is reacting to this reality is by reducing their own cars list prices by up to $5,000 on everything except the supply restricted Model Y. Y production has not yet reached the volume necessary to become profitable this early into their production ramp up.
The Y is currently perhaps the hottest car in the automotive marketplace. Second might be the new mid-engine Corvette. Gonna be hard pressed to get significant discounts on such cars, with long waiting lines.
All over the World, parking lots are being filled up with un-sellable cars from the Legacy producers. They are forced to stockpile them until their dealerships can get re-opened and move them out. Gonna be bargains a-plenty to reduce that inventory. Low interest rates, Zero Money Down, Low lease rates, Make your first 6 payments deals, etc. This will put downward pressure on used cars as well.
Problem with selling new ICE cars is that there is really very little difference than the 3 year old ones being traded in.
It's a new automotive World out there.
Attachments
Uncle Paul
Well-Known Member
Current Automotive in Chicago is also buying lots of used Tesla. Seem to be offering good prices as well.
I don't have a problem with them lowering their trade values, that makes complete sense. Seems like they are lowering peoples model 3 trades as well though, so it isn't just an ICE problem here. But either way, I have no issue with them responding to the declining auto market with a lower trade value.
My problem is with their customer service. Telling customers to not bother them anymore about trades, accusing customers of millage fraud? What the heck is that?
My problem is with their customer service. Telling customers to not bother them anymore about trades, accusing customers of millage fraud? What the heck is that?
Uncle Paul
Well-Known Member
They probably discovered some issue with your VIN and did not want to get involved with your car at any level. Probably told by their boss to end their discussion. Sounds like they use a poor choice of words, but you certainly got the idea.
Tesla is miserable at coddling.
Tesla is miserable at coddling.
Thanks for sharing this. I thought I am the only one not able to get trade in done because of the 'mileage inconsistency' "error".
To be clear, this did not happen to me. I was referring to the above posts where 2 people from different states (different delivery centers) got the same response from Tesla about a "milage inconsistency" which seems to be completely bogus.
Thats just shifty business practice, and terrible customer service. No excuse there.
theganjaguru
Guru
I feel for anyone in this predicament, but not surprising given the new car fire sale by almost everyone. 0% interest for x many months with 120 days deferred payments from almost every major manufacturer.
Used car values can only tank. Used Tesla’s still hold their values well, but they’re still “used”.
Americans have the memories of goldfish when it comes to oil prices. Values of used Tesla’s will even out when gas prices eventually rise again. But right now its a poop shoot and there isn’t much you can do but look elsewhere when dealing with your trade in.
Used car values can only tank. Used Tesla’s still hold their values well, but they’re still “used”.
Americans have the memories of goldfish when it comes to oil prices. Values of used Tesla’s will even out when gas prices eventually rise again. But right now its a poop shoot and there isn’t much you can do but look elsewhere when dealing with your trade in.
To update my trade situation:
I requested to have my trade updated yesterday since it seemed clear that Tesla wouldn't somehow just forget to re-evaluate my older than 30 day trade value at this point and I wanted to see if I could take advantage of the June 1st Carmax cut off. I made this request to my local delivery center rep.
My appointment with Carmax is tomorrow morning.
This morning, I noticed my trade offer had not changed so I reached out to my rep, to which he responded saying it can take up to 48 hours. Fair enough. About an hour after that conversation I got an email asking me to finalize my trade in details. So I clicked the link, which brought my to my standard account page that I have been looking at constantly, and there was no option to accept a trade. The current value of my "accepted" trade offer had dropped to $0 though. Clearly some glitch. So, I reached out to my rep again and let him know (saying that I think it might just be a glitch as it gets uploaded to the website or something since I responded to the email so quickly, so I would be patient, I just wanted him to know the status).
He responded with "Just got a response, the mileage didn't take", and then he asked me to confirm the current mileage. Keep in mind, yesterday when I made the request to update the trade offer with him I read him the EXACT mileage on the car. So I sent him a picture of the dash showing the current mileage, and texted him the exact amount again.
Seems eerily like the responses KenYoung1 and severusweasley had above. I'm starting to lean towards this whole "mileage dispute" on trades being a delay tactic by Tesla to stop people from getting Carmax matches at this point. We'll see what happens next.
EDIT: About 5 minutes after I posted this, my rep replied and said they corrected the mistake and he texted my new offer to me. He said it was good for 28 days. It was $1650 less than my original offer from March. Honestly, I would say a pretty fair reduction by Tesla in my case. Still lower than I will accept (since I have the means to just hold onto my current car and sell it privately or sell to Carmax in a couple months when the market adjusts hopefully), but a fair offer non the less.
But it doesn't stop there. I then got an email from Tesla showing my official offer, but the offer showed my mileage as 5,000 miles higher than what is actually on my odometer??? My account page still shows $0.
I updated the rep again.
I requested to have my trade updated yesterday since it seemed clear that Tesla wouldn't somehow just forget to re-evaluate my older than 30 day trade value at this point and I wanted to see if I could take advantage of the June 1st Carmax cut off. I made this request to my local delivery center rep.
My appointment with Carmax is tomorrow morning.
This morning, I noticed my trade offer had not changed so I reached out to my rep, to which he responded saying it can take up to 48 hours. Fair enough. About an hour after that conversation I got an email asking me to finalize my trade in details. So I clicked the link, which brought my to my standard account page that I have been looking at constantly, and there was no option to accept a trade. The current value of my "accepted" trade offer had dropped to $0 though. Clearly some glitch. So, I reached out to my rep again and let him know (saying that I think it might just be a glitch as it gets uploaded to the website or something since I responded to the email so quickly, so I would be patient, I just wanted him to know the status).
He responded with "Just got a response, the mileage didn't take", and then he asked me to confirm the current mileage. Keep in mind, yesterday when I made the request to update the trade offer with him I read him the EXACT mileage on the car. So I sent him a picture of the dash showing the current mileage, and texted him the exact amount again.
Seems eerily like the responses KenYoung1 and severusweasley had above. I'm starting to lean towards this whole "mileage dispute" on trades being a delay tactic by Tesla to stop people from getting Carmax matches at this point. We'll see what happens next.
EDIT: About 5 minutes after I posted this, my rep replied and said they corrected the mistake and he texted my new offer to me. He said it was good for 28 days. It was $1650 less than my original offer from March. Honestly, I would say a pretty fair reduction by Tesla in my case. Still lower than I will accept (since I have the means to just hold onto my current car and sell it privately or sell to Carmax in a couple months when the market adjusts hopefully), but a fair offer non the less.
But it doesn't stop there. I then got an email from Tesla showing my official offer, but the offer showed my mileage as 5,000 miles higher than what is actually on my odometer??? My account page still shows $0.
I updated the rep again.
Last edited:
Uncle Paul
Well-Known Member
Don't forget that at this time, many Tesla employees will be working at home with their personal computers. This virus thing has stressed a lot of systems and they can become less robust.
The current used car marketplace is also uncertain. Companies offering trade in values have no certaintly that they will be able to resell them for enough to cover their own costs.
Every buyer is hyper focused on their own individual deal. Want to get the best deal possible, but of course Tesla is looking at the overall situation and must implement policies that will protect their profit margins while still offering as much as they can to facilitate the buyer needing to sell their legacy car to enable a new Tesla purchase.
Most money usually gained from selling your vehicle privately, but currently many feel uncomfortable dealing with strangers out car shopping.
The current used car marketplace is also uncertain. Companies offering trade in values have no certaintly that they will be able to resell them for enough to cover their own costs.
Every buyer is hyper focused on their own individual deal. Want to get the best deal possible, but of course Tesla is looking at the overall situation and must implement policies that will protect their profit margins while still offering as much as they can to facilitate the buyer needing to sell their legacy car to enable a new Tesla purchase.
Most money usually gained from selling your vehicle privately, but currently many feel uncomfortable dealing with strangers out car shopping.
I would be curious to see what Tesla will offer you for you Model X. Tesla offered me about 5000 less than KBB trade in value for my MS 85 prior to the COVID. I ended up selling it for 1000 less than KBB trade in value 3 weeks later to a private party because I thought about buying used Model X from Tesla. In the end I ordered a MY after test driving both a Model Y and Model X At Tesla (my daughter and I were the first to test drive here in San Diego) Still love the Model X because of the extra room.
Hope you get a good offer from Tesla
I feel really lucky. As the factory started to re-open, I thought cars would be coming out like hot cakes. I decided to list my car on craigslist, thinking it would take a long time to sell. I ended up getting a serious buyer who was looking for my exact specs in excellent condition the next day. Sold the car for above KBB price without any negotiations.
I am now carless for almost a month now. Good thing I am working from home. Hopefully my delivery doesn't get pushed out until too long. I don't know how long I'll be working from home.
Tesla - if you're reading this. Hook it up
2019 reservation holder.
I am now carless for almost a month now. Good thing I am working from home. Hopefully my delivery doesn't get pushed out until too long. I don't know how long I'll be working from home.
Tesla - if you're reading this. Hook it up
2019 reservation holder.
welp, just got the notification for pickup on Monday @10am and I asked them to update our trade-in offer on a 2017 VW GTI....it's a $1400 less than it was 2-3months ago, ugh! But oh well.
Ordered Sept 2019... MSM AWD LR, black interior, no FSD in Las Vegas, NV. My VIN/MVPA showed up Monday morning. Wednesday my "inside delivery specialist" told me "mid-to-late June" when I had emailed him...
Tesla has no idea what is happening or where, just gotta roll with the punches. I'll follow-up on how the delivery goes and what is wrong with the paint (ass-uming there will be something). Luckily Tesla has it's own small stuff body shop here in Las Vegas as that's where I took my Model 3 to get touched up for delivery paint chips.
Ordered Sept 2019... MSM AWD LR, black interior, no FSD in Las Vegas, NV. My VIN/MVPA showed up Monday morning. Wednesday my "inside delivery specialist" told me "mid-to-late June" when I had emailed him...
Tesla has no idea what is happening or where, just gotta roll with the punches. I'll follow-up on how the delivery goes and what is wrong with the paint (ass-uming there will be something). Luckily Tesla has it's own small stuff body shop here in Las Vegas as that's where I took my Model 3 to get touched up for delivery paint chips.
Just got a call saying my delivery is being pushed a few days. I asked about the whole CarMax/Cavana/etc, he confirmed Tesla isn’t matching anyone anymore. Apparently CarMax is tired of doing the work and never getting a car and the market has dropped out so everyone is lowballing. Luckily our GTI “only” dropped $1400.
Hopefully used car prices (in general, not specific to Tesla) are starting to stabilize.
Not sure how flexible Tesla is in regards to trade in values (doesn’t sound like they are very flexible), but for those who received an offer during the valley in wholesale values, it may be worthwhile asking for their vehicle to be reassessed.
Bloomberg - Are you a robot?
Not sure how flexible Tesla is in regards to trade in values (doesn’t sound like they are very flexible), but for those who received an offer during the valley in wholesale values, it may be worthwhile asking for their vehicle to be reassessed.
Bloomberg - Are you a robot?
Similar threads
