Trade in values seem high again ?

[seadog]

Not good and I am expecting the worse for my trade in when it expires at the end of the month. Were Tesla only offering big trade in values as they knew there would be a shortage of deliveries this quarter and the used market would be strong? If there is a bumper delivery next quarter to catch up they may be overwhelmed with trade ins and don't really want them so much. Still long lead times so you would think prices would have stayed quite high.

 

[GeorgeSymonds]

I was having a sniff around the Tesla inventory sites as I noticed my old car, which I traded in about 2 months or so ago, is still for sale. The thing that shocked me is just how many used inventory cars there are in the UK compared to the rest of the world. The UK has something like twice the number of Model 3's for sale at Tesla than even the US, something like 150 of them! The next nearest I could find in Europe was Holland with 15. Model S - we have about 80, the US have 20. MX we have 50, US 30.

I don't know if this is normal, seems a bit odd, but maybe they're softening the prices because they have so many. It's also kind of odd why they're not selling too given there's nothing much on the way, unless most of the buyers are all company fleet type purchases and need the cars to be new?

Thoughts?

 

[seadog]

Thoughts?

My thoughts are used prices are too close to new hence must be hard to sell unless someone really doesn't want to wait for delivery, Pre refresh 2020P with higher miles than mine is listed £58K, only £3K less than a new one with 2 years more warranty and all the 2021 and 2022 upgrades, albeit it does come with EAP but that's not something everyone wants or is prepared to pay for.

 

[Durzel]

Just did a trade-in quote with Tesla on my March 2020 M3P with FSD - £50,600.

It was £52,300 at the start of December last year, and it went up to as high as £55,700 in recent months. The logic that Tesla were offering higher prices to encourage people into Ys makes sense to me.

 

[busterboy]

Mine has an extra 1.2k miles and is nearly £5000 less. (49.6k to 44.9k)

That is ridiculous as is my latest trade in.

We have two options,
1: Sell private
2: Accept it and suck it up

 

[Durzel]

I feel for people who have ordered cars on the back of these quotes. It seems unfair and somewhat predatory to say "welp your car is delayed, by the way we're going to pull your pants down on the revised trade in price", but it is what it is I guess.

 

[seadog]

We have three options
3: Cancel order

Which is what I will be doing and requesting a refund of my deposit, the good trade in price was the only reason I had to change as I'm still happy enough with my 2020 car. Tesla won't care as there are plenty others who will snap it up, but it would give me more reason to look around at alternatives especially now the Supercharger network has started to open up since my order was placed.

 

[interbear]

I feel for people who have ordered cars on the back of these quotes. It seems unfair and somewhat predatory to say "welp your car is delayed, by the way we're going to pull your pants down on the revised trade in price", but it is what it is I guess.

That's exactly what has happened and as you say, it is what it is. Still annoys me but just need to shrug my shoulders and decide whether or not I want to continue with the Model Y or just run the Model 3 for another year or two.

 

[busterboy]

I feel for people who have ordered cars on the back of these quotes. It seems unfair and somewhat predatory to say "welp your car is delayed, by the way we're going to pull your pants down on the revised trade in price", but it is what it is I guess.

Spot on.

 

[Morak]

Unfortunately SWMBO has decreed we need a hatchback, otherwise I'd be with you on keeping the M3.

 

[seadog]

This is really a industry wide issue affecting more than Tesla though due to the long delivery times on many marques especially EV's, many are quoting 12 months plus for delivery. It would be interesting to hear how other more traditional car makers such as BMW/Audi are dealing with it, cant be easy to value a car in a market that could change a lot in a year. My gripe with Tesla is they would not accept my trade in unless I could take delivery of a new car, I would of been happy enough to get by without a car for a few months if it meant guaranteeing the trade in price I was quoted.

 

[Durzel]

We have three options
3: Cancel order

Which is what I will be doing and requesting a refund of my deposit, the good trade in price was the only reason I had to change as I'm still happy enough with my 2020 car. Tesla won't care as there are plenty others who will snap it up, but it would give me more reason to look around at alternatives especially now the Supercharger network has started to open up since my order was placed.

I nearly pulled the trigger myself, as at one point it was £10k to switch to a 2022 M3P (downgrading FSD to EAP). Still a fair chunk of money, not as good as people who had bought LRs pre all of the latest price rises, etc.

What stopped me was hearing of "major upgrades" coming at the end of this year. A rumour, as always, but since there's recent talk of Samsung providing higher megapixel cameras and high resolution radar coming back, it might come to pass. I also happen to think before long there will be a tweak to where the cameras are positioned, or more of them, to handle unprotected turns that are an issue with FSD beta in America.

I don't think there is strictly ever a "bad" time to buy one of these though, these cars are always changing - some things being added, some things being taken away, some things tweaked. A bit like Apple hardware really, moreso than cars.

 

[s88ats]

I feel for people who have ordered cars on the back of these quotes. It seems unfair and somewhat predatory to say "welp your car is delayed, by the way we're going to pull your pants down on the revised trade in price", but it is what it is I guess.

This is exactly what happened to me. I was not even thinking of selling my beloved TM3, but the trade-in price made it a no-brainer and i ordered a TMY on the back of it.

When I got my trade-in price confirmed - the deductions for the wheels and alloys made me look to sell privately as I had an imminent delivery window of 'end of June' delivery window. I sold the car privately, and just on that day, my edd moved to Aug-Sept - needless to say, I was livid but on the bright side I got what I paid for it 2 years ago.

 

[Durzel]

This is really a industry wide issue affecting more than Tesla though due to the long delivery times on many marques especially EV's, many are quoting 12 months plus for delivery. It would be interesting to hear how other more traditional car makers such as BMW/Audi are dealing with it, cant be easy to value a car in a market that could change a lot in a year. My gripe with Tesla is they would not accept my trade in unless I could take delivery of a new car, I would of been happy enough to get by without a car for a few months if it meant guaranteeing the trade in price I was quoted.

I asked the exact same question. I don't use my car much, and would have accepted a £55,700 trade in price and handed the car over and made do for the then ~3 months I would've had to wait for a new car.

As you say though they don't accept that, the logic I guess is that the trade-in is conditional on you accepting the new car (which makes sense, as it's an inflated price).. You could "sell" them your car and then say "actually I don't want the new one anymore", I guess.

 

[Durzel]

This is exactly what happened to me. I was not even thinking of selling my beloved TM3, but the trade-in price made it a no-brainer and i ordered a TMY on the back of it.

When I got my trade-in price confirmed - the deductions for the wheels and alloys made me look to sell privately as I had an imminent delivery window of 'end of June' delivery window. I sold the car privately, and just on that day, my edd moved to Aug-Sept - needless to say, I was livid but on the bright side I got what I paid for it 2 years ago.

Did you have much aggro selling it privately, and did you get a good price relative to Tesla's quote... if you don't mind me asking? When you say privately - did you actually list and sell it yourself, or put it through one of the EV dealers like R Symons, etc?

 

[Jason71]

My thoughts are used prices are too close to new hence must be hard to sell unless someone really doesn't want to wait for delivery, Pre refresh 2020P with higher miles than mine is listed £58K, only £3K less than a new one with 2 years more warranty and all the 2021 and 2022 upgrades, albeit it does come with EAP but that's not something everyone wants or is prepared to pay for.

It seems to be the case that they start them really high then drop the price every few days until they sell which is why some seem crazy high and much higher than better cars on lower prices.

 

[Jason71]

Tesla trade in prices may be softening but used prices for M3s have definitely risen since the price rise on Autotrader.
WBACs price for mine has gone up about 6K since I had my trade in price from Tesla. It's still not as good but its not miles away.
The lack of deliveries this month can't hurt used prices since less people will be trading in and selling so hopefully one way or another I will be able to get somewhere close to my trade in price.
Part of the high Tesla Trade in prices in March I think was that Tesla had significant un allocated Q3 production hence the EDD's of less than 60 days. So they were doing anything they could to sell them. Now with the Shanghai shutdown the EDD's are out to 5-7 months so they have no need to incentivise anymore. So I don't think it was a deliberate bate and switch but it still sucks.

 

[s88ats]

Did you have much aggro selling it privately, and did you get a good price relative to Tesla's quote... if you don't mind me asking? When you say privately - did you actually list and sell it yourself, or put it through one of the EV dealers like R Symons, etc?

Nope no aggro at all - except getting potential buyers to wait for us to get back from our holiday, as then it was only a week or 2 from my then edd! Felt bad in doing this as potential buyers were having to wait a month or so in pick up but I genuinely had no intention of selling until the new one arrived.

I initially went through motorway where a dealer won the auction and I wasn't in a position to sell so quick (nor the price they won the auction for). I then decided to listed it on auto trader with a few good picts and the calls were rolling in. Funnily enough the same dealer who won the auction was very keen in buying it for himself with the 'carbon mods'. I ended up selling it to someone local for more than the trade in value and removed all/most mods except the wheels, privacy tints and things like the hvac covers at the front and back. Oh and he paid me extra for the mats and to put the carbon cover back on the dash.

Imo it certainly helped not listing it for over new prices (like some have done), but now knowing I'll be waiting a whole quarter more, I guess there wouldn't have been any harm in testing the waters and maybe getting lucky.

 

[Epico]

Just sold my '69 plate Sr+ through carwow for 3.2k more than Tesla were offering. Always worth a try

 

[mick4545]

Do WBAC Motorway etc take into account FSD and free Premium connectivity when valuing a car? A quick look at some sites and they only ask for VRN and milage.

I’m assuming Free Premium Connectivity stays with the car?