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Trade in values seem high again ?
- Thread starter BelfastEV
- Start date
interbear
Active Member
Interesting.
My M3 LR red with 18” wheels and 17.5k miles on the clock has a confirmed trade in offer of £43,400. However, it expires on May 27 and this week the estimated delivery date for the MY I ordered on March 16 was pushed back to May 28 - June 25. So it will definitely expire.
I thought I’d better look what other options were out there so I checked Motorway yesterday. A couple of weeks ago it was estimating just under £40k, now it’s £42.2k. Last time I sold via Motorway I got a couple of thousand more than the estimate so I’ve submitted everything and will see what results from that. Although they keep asking me daft questions about service history, despite Tesla cars not having any requirement for regular servicing and me sending them info on the 2 year “recommended service” that I had Tesla do in January.
Anyway, not sure what route to go currently. I could go for another trade in quote from Tesla of course. Do I need to wait for the current one to expire on May 27 to do that or can I sum it it anytime?
My M3 LR red with 18” wheels and 17.5k miles on the clock has a confirmed trade in offer of £43,400. However, it expires on May 27 and this week the estimated delivery date for the MY I ordered on March 16 was pushed back to May 28 - June 25. So it will definitely expire.
I thought I’d better look what other options were out there so I checked Motorway yesterday. A couple of weeks ago it was estimating just under £40k, now it’s £42.2k. Last time I sold via Motorway I got a couple of thousand more than the estimate so I’ve submitted everything and will see what results from that. Although they keep asking me daft questions about service history, despite Tesla cars not having any requirement for regular servicing and me sending them info on the 2 year “recommended service” that I had Tesla do in January.
Anyway, not sure what route to go currently. I could go for another trade in quote from Tesla of course. Do I need to wait for the current one to expire on May 27 to do that or can I sum it it anytime?
guicane
Member
I’m pretty sure you can send another estimate as I have done that a few weeks apart and got 2 completely different estimates.
My first estimate early march was £45k and an estimate last week brought it up to £63k which is insane so I placed an order for a MY.
Woah! I presume this is for your MX 100D? If so then £45k was a low-ball offer and £63k sounds quite generous. Tesla gave me £56.5k trade-in last month for my early 2018 MX 75D with 50k miles. I was happy with that. WBAC offered £48k and motorway was estimating £51k at that time. Interestingly WBAC are now offering only £42k this month. Not sure why they dropped it £6k in a month? Anyway, it went back to Tesla in a straight swap for a new MY!
interbear
Active Member
I’ll see what Motorway come up with this week. Given that my estimated delivery now goes out to June 25th, I’ll probably submit another Tesla trade in request at the end of this month so that it comes within the 60 days expiry.
Question - would I need to submit new photos for a 2nd trade in request?
Like a lot of people, due to delays with the MY LR, my trade-in estimate for a Model 3 will expire on the 1st June. I spoke to Tesla about my concern that a revised quote could be lower, however the guy I spoke to pointed out that some new Model 3's are now looking at Feb 2023 for delivery and that this would keep 2nd hand prices high for current Model 3's.
He also implied that I would have to wait for the current quote to expire before I could request another trade-in value. Has any one else been in this position? Is it better to wait or try and lock in a price sooner?
I've looked at WBAC and they are coming up at least £2,000 less than my current trade-in offer!
Any advice?
He also implied that I would have to wait for the current quote to expire before I could request another trade-in value. Has any one else been in this position? Is it better to wait or try and lock in a price sooner?
I've looked at WBAC and they are coming up at least £2,000 less than my current trade-in offer!
Any advice?
It’s pot luck what Tesla will offer. I don’t think you can assume that the price will be higher or lower if you leave it later. I imagine it depends entirely on what stock they’re getting in from other people that are pulling the trigger on an order
I’ve had trade in quotes that have varied from £52,250 up to £55,700, with £55,000 being the most recent.
Incidentally I just noticed the non-refundable deposit is now £200? I thought it was £100, or did that change?
I’ve had trade in quotes that have varied from £52,250 up to £55,700, with £55,000 being the most recent.
Incidentally I just noticed the non-refundable deposit is now £200? I thought it was £100, or did that change?
Must have changed very recently, I haven't seen it posted anywhere else. Just checked by prepping an order & it is indeed now £200.
Jason71
Well-Known Member
Quick question with motorway as I can't find it online, we're looking tell our ICE, do you have to sell through Motorway if you go into the process and you get offers above the guess, and do you get chance to list all the options? My wifes car is quite high spec and while I know you don't get back what we paid, the intiial estimate seems a little low. I avoided using them with my M3 which had EAP and AB as the valuation seemed to be based on a generic model (all theyd asked for really was the model) and Tesla offered a lot more to start with, plus the convenience.
interbear
Active Member
After uploading photos you call Motorway to finalise the listing and can advise them of any additional specification items then.
I also asked them on that call if, on completing the process, I was obliged to sell via them if they achieved the estimated price. No was the answer I was given. So I’ve gone ahead to see what they can do as the last car I sold via Motorway (Audi A4 Avant S-Line Black Edition) achieved a couple of £k over the initial estimate. If they don’t get a price that’s as good as or very close to the Tesla trade in offer that’s due to expire at the end of May, I will just reject it.
Mine jumped up to £55,000 just over a week ago (quote expired today). Just did another one and it's £54,200. I was hoping it was going to go up to £55,700 again.
Keep flip flopping between thinking I might as well wait another year and see what happens in that time (a Ludicrous M3 yo!) and thinking that used car prices won't stay high forever, and even though the price delta to go from a 2020 M3P with FSD to 2022 M3P with EAP is "only" £10k, that's only really because the car itself has gone up in price and there's no grant anymore.
I can't really rationalise spending £10k for the upgrades, I don't think, and I have a niggling fear in the back of my head that as soon as I buy a car they'll announce a new/better/bigger battery, or something else that meant I should have waited. Then again, the car is always changing, so..
Also - my current car was ceramic coated and has full PPF which cost a few thousand all in all, so I'd lose that and/or need to redo it.
Keep flip flopping between thinking I might as well wait another year and see what happens in that time (a Ludicrous M3 yo!) and thinking that used car prices won't stay high forever, and even though the price delta to go from a 2020 M3P with FSD to 2022 M3P with EAP is "only" £10k, that's only really because the car itself has gone up in price and there's no grant anymore.
I can't really rationalise spending £10k for the upgrades, I don't think, and I have a niggling fear in the back of my head that as soon as I buy a car they'll announce a new/better/bigger battery, or something else that meant I should have waited. Then again, the car is always changing, so..
Also - my current car was ceramic coated and has full PPF which cost a few thousand all in all, so I'd lose that and/or need to redo it.
Mr H
Active Member
But you would gain a heated steering wheel….. that works
I've had a Tesla trade in quote for my 2020 3P, White & White with FSD and 7000 miles £54200, WBAC today are offering £44400. 5 more days to decide what I want to do. A new 3P, white and White with standard AP is £7K more with delivery quoted August.
FSD is OK but wont pay £6800 for it as its not worth it, EAP - well I can park fine and summon doesn't work anyway (OK it does sort of work and nervously move forwards a bit at less than 1mph after a long thought process)- plus I could always add it via the app if summon gets to work as advertised - and to work i mean - come out of the restaurant, summon the car and it comes to the door in a reasonable time - not as current which moves forward a few feet, stops - and by the time its done that all the staff have packed up and gone home.
Head and heart are currently arguing, new car would be nice and all the improved bits but I also loose stuff too - I like the Chrome, I like the passenger seat lumber support, I like the white insert on the door cards and I like the bottom section of the door cards in the same soft material as at the top - not the cheapo looking and feeling hard plastic now being fitted, and perhaps withdrawal of the UMC
My car is immaculate, no faults and never had any - so my head says wait another 12 months and hopefully full proper matrix headlamps will be fitted.
FSD is OK but wont pay £6800 for it as its not worth it, EAP - well I can park fine and summon doesn't work anyway (OK it does sort of work and nervously move forwards a bit at less than 1mph after a long thought process)- plus I could always add it via the app if summon gets to work as advertised - and to work i mean - come out of the restaurant, summon the car and it comes to the door in a reasonable time - not as current which moves forward a few feet, stops - and by the time its done that all the staff have packed up and gone home.
Head and heart are currently arguing, new car would be nice and all the improved bits but I also loose stuff too - I like the Chrome, I like the passenger seat lumber support, I like the white insert on the door cards and I like the bottom section of the door cards in the same soft material as at the top - not the cheapo looking and feeling hard plastic now being fitted, and perhaps withdrawal of the UMC
My car is immaculate, no faults and never had any - so my head says wait another 12 months and hopefully full proper matrix headlamps will be fitted.
The M3 has "proper" matrix lights already, as demonstrated with the light show. What's missing is the software component to make them do something useful.
It's difficult to know what to do as prices are jumping around weekly but I took my trade in offer of £52K (although final amount hasn't been confirmed yet), I like my car but given that valuation was 97% of the purchase price after 2 years and 12K miles it almost seemed daft not to take it, a new car with 2 years more warranty and all the 2021 and 2022 upgrades (OK some minor downgrades as well) without that much money to add in.
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