Trade in Value

[Painkiller89]

I was in the process of trading in my m3 stealth performance for a MY performance. Tesla has really slashed trade in values i am not sure why. I was originally quoted 47k and now its down to 33k since the car was delayed for production.

At this point i am going to cancel the order. Trade in value is terrible.

 

[firerock]

Well, the used car sales has been hammered (from what I read, down as much as 80%) since COVID-19 and probably won't recover for a while. Even new car sales are down across all brands. It's all about supply and demand.

 

[Uncle Paul]

Due to so many people staying at home, the value of most all new and used cars has dropped. It is not something that Tesla is doing, but just that the general market is compressing.

EVs are the more aspirational vehicles these days. Lots of people are thinking hard before buying a new ICE vehicle, especially when they are little better than their old ones.

Trade invalues for all cars are mostly determined by auction prices. Those prices are trending downward.

 

[Prdmommyof3]

I was in the process of trading in my m3 stealth performance for a MY performance. Tesla has really slashed trade in values i am not sure why. I was originally quoted 47k and now its down to 33k since the car was delayed for production.

At this point i am going to cancel the order. Trade in value is terrible.

Did you try Carvana?? They've only dropped 1K for my 2017 trade in.

 

[Klau2]

I was in the process of trading in my m3 stealth performance for a MY performance. Tesla has really slashed trade in values i am not sure why. I was originally quoted 47k and now its down to 33k since the car was delayed for production.

At this point i am going to cancel the order. Trade in value is terrible.

Man, that sucks! It's a huge difference. So glad I traded my S in back in March, they gave me a pretty decent value at that time for the Y.

 

[SEndicott]

I ended up selling my 2016 Ram 2500 to a local dealer. Got $6k more than what Tesla trade in was going to give me.
I tried doing the private sale route, but gave up after a week or so of scam/low ball offers.

 

[Robocheme]

I had exactly the opposite experience, (but it was two weeks ago); my trade-in offer went up. Back at the end of March, it was 33.2K$, I resubmitted the request two weeks ago and it went up to 35.5K$.

Carvana offered 31.1K$, Vroom 33.8K, I sold it on CL for 37K to a reseller who put it up for auction. It's on a used car lot now for 42.8K$.

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

 

[myMY808]

There’s been some recovery in used car and wholesale prices. Those who got low-ball offers in April and May may want to see if there’s an opportunity to reassess (of course, when I asked my delivery advisor, she said, “probably not.”).

From Bloomberg:

J.D. Power’s weekly wholesale auction price index is now down just 1.9% from where the market researcher expected prior to the coronavirus. Prices have recovered after plunging as much as 16% below the forecast for the week that ended April 19.

 

[ZippyDC]

I read it today that due to the closing of the auto manufacturers there is currently a shortage of both new and used cars at dealership. Who knows? The used car price might go up.

 

[qdeathstar]

Interesting, they did not change the value of my sr plus from march to last week. 38k

 

[myMY808]

Interesting, they did not change the value of my sr plus from march to last week. 38k

They didn’t automatically change my trade in value from March — and I debated just staying quiet and/or making the final payment and hoping they don’t catch it. But based on reading what happened to others, where trade-in values were adjusted right before delivery, I didn’t want to get surprised.

 

[rxlawdude]

I just figured the mid $20s they offered in March for our '15 70D with 106K miles would drop. One hour listing on eBay sold for full asking of $29K.

 

[DennyL]

I just figured the mid $20s they offered in March for our '15 70D with 106K miles would drop. One hour listing on eBay sold for full asking of $29K.

How much is the fees paid to Ebay?

 

[rxlawdude]

How much is the fees paid to Ebay?

$95. Such a deal!

 

[qdeathstar]

They didn’t automatically change my trade in value from March — and I debated just staying quiet and/or making the final payment and hoping they don’t catch it. But based on reading what happened to others, where trade-in values were adjusted right before delivery, I didn’t want to get surprised.

I’ve already made final payment....

 

[qdeathstar]

$95. Such a deal!

They must of changed their policy, last time i tried to sell something on ebay i got pillaged by ebay and paypal...

 

[yossi]

They didn’t automatically change my trade in value from March — and I debated just staying quiet and/or making the final payment and hoping they don’t catch it. But based on reading what happened to others, where trade-in values were adjusted right before delivery, I didn’t want to get surprised.

got offer in march went to pick up my Y and didn't get surprised on 6/2

 

[LowlyOilBurner]

My 2018 XC60 was supposed to be sold to Carvana back in the end of March. They canceled the night before we were supposed to turn the car into them. My new offer from them is a little over $5,000 less than the offer in March. The car had like 150-200 miles put on it since then, so no real change in mileage. That’s over $2,500 of depreciation per month. Awesome!

 

[chrismrobbins]

I’ve already made final payment....

I’m curious if they say anything to you at delivery. When I bought my Model X several years ago, I got a call 1.5 years later saying I owed them $2300 because they miscalculated something...

 

[J-HevA]

I have a 2016 Volvo xc90 in great shape w/ 55k miles on it. Tesla gave me a trade-in of only $22k. I did submit this request to Tesla 2 weeks ago when used car prices where in the toilet. Question....can I submit the request again?