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Trade in

Discussion in 'Model S' started by Rawad H., Feb 25, 2016.

  1. Rawad H.

    Rawad H. Member

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    Livonia mi
    hello all, so im considering turing in my 85 model s for a floor model/used p85d. not sure on how the process works and what kind of experiences everyone has had with trade ins. has it gone smoothly? and does tesla give fair quotes for trade ins?
     
  2. Hank42

    Hank42 Member

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    United States - NY
     
  3. ztodd

    ztodd Member

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    Atlanta, GA
    I got a fair quote on my trade-in. Sure, I could sell my trade for a little more private party, but Tesla's offer was the same as what I would have expected at a dealer. Obviously (from the other reply), your experience may vary!
     
  4. byan1232

    byan1232 Member

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    New York, NY
    I didn't trade in a tesla but my experience is that Tesla provides a quote MUCH lower than other dealers. I went on KBB and got an instant cash offer that was 2k higher than what Tesla gave me. 2k is a lot considering the trade in value was only 10k.

    background:
    2005 mb clk 55 amg with 70000 miles. kbb = $10k, tesla = $8k
     
  5. cman8

    cman8 Member

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    Tesla doesnt really care for trade ins (as far as other cars go. Dont know about a tesla being traded in) but in my experience, they lowball you since they just send it straight to the auctioneers to bid on it. They offered me 18k on a BMW 535xi fully loaded. I told them never mind and listed it for private sale and in two days sold it for 25k. So yeah if you can avoid trade in, just sell it private party and make some more $
     
  6. ztodd

    ztodd Member

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    Not sure about other states, but in Georgia, you pay sales tax on the price of the car minus any trade-in value. So while I could sell a car private party for $20k versus $18k trade-in to Tesla, I end up paying $1,400 more in sales tax by selling it myself (or to another dealer) -- which eliminates the majority of the benefit of the private party sale. (And in Georgia you also pay sales tax on full value of car even when leasing -- but there's no ad valorem taxes anymore)
     
  7. mikeash

    mikeash Active Member

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    I got a really good quote for my trade-in, substantially more than dealers or Carmax offered, and about as much as I expected to be able to get selling it privately.

    However, this is clearly not the norm. I would definitely get a quote from Tesla just in case they blow you away, but be prepared to do it on your own if you want to get the most money back out of it.

    As for the process, it's pretty easy. They take your info and give you a quote. If you want to go ahead with it, then shortly before delivery (in my case, a few days) they'll send someone to inspect the car in person to make sure it's in the sort of shape you say it is. Then on the day of, you drive to pick up your new car, and hand over the keys to the old one.
     
  8. cman8

    cman8 Member

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    Do you pay tax when you buy and sell?
     
  9. kort677

    kort677 Active Member

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    trading in my '84 worked very well for me, contact your sales office and they will start the process which begins with an appraisal done by an "independent" appraiser at your location, then they will make you an offer, if you accept their offer it is a smooth process. I was quite pleased with what they offered me. YMMV
     
  10. kevincgreene

    kevincgreene Member

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    Feb 5, 2016
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    In Illinois, Tesla uses a 3rd party to come and inspect your trade, it took about 30 min and was simple other than them not showing up to the first scheduled appointment. The same week, I also took my trade back to the dealer where I had bought it from and to Carmax just to get a ballpark idea. All 3 quoted me the same exact price so it must be coming from an online auction database. But I went with Tesla's offer to save on taxes on the new car.

     
  11. doofenshmirtz

    doofenshmirtz Member

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    As you're turning in your Tesla, wont you get whatever the Tesla RVG was for your car? assuming it was purchased new.
     
  12. grichard

    grichard Member De-Luxe

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    In MO, selling your used car within some time of buying a new one counts as a trade in. I sold my VW to Carmax a week after a bought my MS. Brought the Carmax bill of sale to the title office, and this amount was deducted from my taxable purchase price on the MS. Definitely YMMV by state...
     
  13. Drumheller

    Drumheller Member

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    As others have mentioned, most states have it where the trade in value is not subject to sales tax. This needs to be included when considering the total value, especially in states with a high sales tax. Here in Arizona, the sales tax in my city is 9.3%. So, if Tesla were to offer me $10,000 on a trade-in, the actual value I derive from that trade in is $10,000 * 1.093 = $10,930. If I were to sell private party instead, I need to sell it for more than that value in order to come out ahead. For me, I would need to sell for at least $12,000 to justify the hassle.
     
  14. pete8314

    pete8314 Vendor

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    My trade-in value for my 2013 S85 seems to be around $5-10k below the generally accepted value for my trim level. Convenient, yes, but good value? Hell no. I don't really want to go through the hell of a private sale, but will go check Carmax, they seem to be the most reasonable based on everything I've read, at least if the car is completely clean.
     
  15. Wknapp0924

    Wknapp0924 Member

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    Another fail for California.
     
  16. ztodd

    ztodd Member

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    When selling no taxes. When buying, just the sales tax -- unless you include the ~$50 in tag & title fees. And I believe there's also no sales tax when buying directly from an individual (only when buying from a dealer), but I could be wrong on that one. I haven't bought a vehicle from a private party before.
     
  17. Drumheller

    Drumheller Member

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    This varies by state.
     

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