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Trade in?

Discussion in 'Model S: Ordering, Production, Delivery' started by miked112, Aug 22, 2013.

  1. miked112

    miked112 Member

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    New to the forum but a longtime lurker and follower of this amazing car and company. Question: on the Tesla home page I now see a prompt to "value your trade in" which seems to point back to contact with a sales advisor...does this mean that Tesla are now taking trade ins of non-Tesla cars? Does anyone have experience with that in their purchase process? Thanks in advance.
     
  2. gnelson

    gnelson Member

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    Tesla has an agreement with AutoNation. AutoNation will appraise your car and transfer the funds to Tesla if you accept the offer. By doing this you can achieve a sales tax credit. Typically you may get more for selling your car than the difference is sales tax due when you register your Tesla.
     
  3. texex91

    texex91 Banned

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    Can you take it to any Autonation franchise? My Porsche dealer is now Autonation, so rather get them to appraise.

    And how does that work paperwork wise--Tesla call them?
     
  4. mknox

    mknox Well-Known Member

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    I realize you're in New York, but as an FYI, Tesla will take Canadian trade-ins as well. I traded in my Cadillac CTS back in March. Not sure who they deal with in Canada as I got my quote directly from Tesla.
     
  5. miked112

    miked112 Member

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    Thanks, can't hurt to have them quote me.
     
  6. Rbarry

    Rbarry Member

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    The trade in that Autonation offered me on my current BMW M3 was kind of "sad." Was literally 1/2 what I can make selling it myself if I am patient. I am usually NOT patient but with that much $$ on the line I can be! Let us know if your trade in offer is better.
     
  7. texex91

    texex91 Banned

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    If Tesla will deduct the trade price from the sales price, that will dramatically lower (depending upon your trade) the taxes owed on the value of the Tesla. Here in Texas it's over 6%.
     
  8. Rbarry

    Rbarry Member

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    Thanks Tex -- I had thought about that and with CA 8% sales tax and thought it might work out to be close or even better as you suggest. However, the offer from Autonation was literally just over 50% of the blue book private resale value of my car. It is a car I took incredible car of, in perfect condition, low miles, hardtop convertible, I just couldn't give it away for about a 20k "loss." I know I now have the headache to sell it and may take some time -- but just couldn't take such a hit (total sales tax on my car as purchased was about 10k).
     
  9. texex91

    texex91 Banned

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    I hear you have an attachment to it.

    What it's worth on the market and in your heart two different things (and I'm not suggesting their price was fair). Unfortunately M's do not have a great resale.

    You might, just for sanity sake, take it to Carmax and maybe one other dealer and just have them appraise it. Just to see how far off AutoNation is.
     
  10. kalikgod

    kalikgod Member

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    How does this work with the Texas dealership issues? Did you do a trade-in? My thought was you would not be able to do trade-ins in Texas.
     
  11. Rbarry

    Rbarry Member

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    Any car dealer would need to buy my car lower than what they can sell it for :) Carmax has my almost exact same car (missing a few features I have) for about 3k more than what I am asking as a private seller and at a price almost 18k higher than what AutoNation offered me. I am confident I will sell it for the price I want -- Southern California and convertibles just go together.
     
  12. Emil Joseph

    Emil Joseph Member

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    I was offered $14,000 for trade in of my 2007 Cadillac Escalade in Toronto and chose to sell it privately.
    After posting it on autotrader and kijiji, i got it sold within a week for $21,000.
     
  13. gnelson

    gnelson Member

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    I had the offer in June and AutoNation would have transferred the funds directly to Tesla. My required payment to Tesla was calculated with the AutoNation funds as a partial payment. When I sold my car to a private party, Tesla revised my paperwork.
     
  14. mknox

    mknox Well-Known Member

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    Argh! Don't tell me that! I felt I was lowballed on my '09 CTS but the Model S came in sooner than promised and I had to scramble. Didn't have time to look in to selling privately.

    Interestingly, I got a phone call from the new owner. He had bought is used at a Cadillac dealer and found my extended warranty info in the glove box and needed me to sign it over to him. I didn't have the heart to ask him how much he paid for it at the dealer!
     
  15. Emil Joseph

    Emil Joseph Member

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    Don't feel so bad. Yorkdale Tesla originally offered me $17,500 but I was honest and told them about an accident the truck had been in, that's when they came back to me at a lower offer of $14,000.
    The difference between the $17,500 they offered me originally and the $21,000 that I sold it for is not much considering if I had traded it in at $17,500 I would had saved on the tax, meaning it would almost be like me getting $19,775 for the truck.
    know what I mean?
    plus you didn't have the hassle of getting it certified, etested and all the annoying stuff.

    emil.
     

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