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Trade In

Discussion in 'Model S' started by smoothoperator, May 22, 2012.

  1. Does anyone plan on trading in a vehicle per section 4C of the purchase contract? Just curious how that would work and if anyone is doing it..
     
  2. ibcs

    ibcs Member

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    I left it open as an option. Love to get rid of the Yukon, but I doubt the price will be too attractive.
     
  3. dsm363

    dsm363 Roadster + Sig Model S

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    They didn't ask me about that so I didn't even know it was an option. I would like to trade my Jetta in so might as well have them do it.
     
  4. cinergi

    cinergi Active Member

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    It's wholesale. They gave me a tentative quote for my roadster when I asked for one when I finalized the order. It's low. :-/
     
  5. ElSupreme

    ElSupreme Model S 03182

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    I will probably sell my car when I get the Model S. If they give me a good price then I will sell to Tesla. I'll also try CarMax. Other than that it is Craigslist/Classified or keep it.
     
  6. Rifleman

    Rifleman Now owns 2 Model S's!!!

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    The car I plan on trading in has a blue book trade in value of about $2000, and will probably be even lower by the time my number comes up. I don't expect to get much for it, but will probably trade it in just to make it go away without the hassle of trying to sell it on my own.
     
  7. Kipernicus

    Kipernicus Model S Res#P1440

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    Same here. Tesla may make a little money off of lowball trade-ins, but it's inconsequential compared to new car sales profits.
     
  8. crzyskl

    crzyskl P6398

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    When I talked to some folks at the Oakbrook store, they mentioned that Tesla was looking at third party vendors (CARMAX included) to take care of all the trade-ins.
     
  9. ddenboer

    ddenboer MODEL X #1770

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    Blue book on my car would be about 12k. I would be happy to take that or even 10% less just to get rid of it easily.
    Does trade in reduce cost of new vehicle, thus reducing taxes?
     
  10. No it is added to the downpayment
     
  11. rlawson4

    rlawson4 Member

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    I disagree respectfully. The downpayment *trade-in reduces the taxable price of the vehicle.
     
  12. gg_got_a_tesla

    gg_got_a_tesla Model S: VIN P65513, Model 3 Res Holder

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    Varies by state: What Fees Should You Pay? - Edmunds.com

    Californians are SOL.
     
  13. gg_got_a_tesla

    gg_got_a_tesla Model S: VIN P65513, Model 3 Res Holder

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    About the trade-in process and mechanics, heard this from a Tesla rep (who's keeping a keen eye on the banter here!) who wished to stay anonymous:

     
  14. Take a look at your purchase contract (or ask Tesla to send you one if you have not gotten one yet), on my California purchase contract section 1g & h includes the sales tax, section 4 then subtracts the "Total Downpayment" after the vehicles cash price and government fees have been added. Perhaps it is different in your state, but the person who asked the question resides in California.
     
  15. shokunin

    shokunin P85 & S40

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    The tax laws must have change since several years ago.. I'm also in California and when i traded in my volvo for a lexus, the trade in value was deducted from the pre-tax purchase price. I did not have to pay sales tax on my trade in. This was nice, as the hit I took from trading it in (versus private party sale) was offset by the sales tax savings.
     
  16. 78Lion

    78Lion Member

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    Depends on the state you do the deal in. Marylanders are SOL.
     
  17. Andrew Wolfe

    Andrew Wolfe Roadster 472 - S 440

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    I'm pretty sure that no trade discount has been the case since I moved to California 15 years ago. I have heard of dealers who play games by "discounting the car" by $10K or so and reducing the "trade in" by the same amount - but I think you still have to pay on the reported price of the car.
     
  18. daniel

    daniel Active Member

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    I offered to trade them my ill-fated electric Porsche (discussed elsewhere, in the conversions forum) as-is, for an 85 kWh Model S. I don't think they took me seriously. Really, Tesla, if you're reading this, I think you should take my electric Porsche and do it up right, and give me a Model S for it. :)
     
  19. dsm363

    dsm363 Roadster + Sig Model S

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    You never know. It might be worth something and could get it off of your hands at least.
     
  20. DavidM

    DavidM P2624, Delivered

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    ddenboer - In Florida, a trade-in vehicle reduces the taxable total of your new car purchase. So if your trade-in is worth $15,000 and the sales tax on a new car is 6%, then trading in your car would save you about $900. As a minimum, this could partially offset the wholesale (low) valuation on your trade. Not to mention the convenience of swapping cars the same day. It's great if you want to move your old license plate to your new car. Even though CarMax is pretty easy, unless you are buying a new car from CarMax, you don't get the sales tax savings.
     

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