Trading in a Tesla S for a new Tesla - experience

[TrevTremaine]

Good afternoon, I'm trying to find out people's experiences with trading in a Model S for another Tesla. Did you get anywhere close to what you feel is market value or was it substantially low?

I'm mulling over the numbers to see if buying out my S makes any sense in order to then trade it in or whether to simply call it a day and walk away. I've got plenty of time to figure it all out and make a decision, but am starting the ball rolling for now.

Any suggestions or advice would be welcome, particularly from those around Toronto.

 

[SilverGS]

Good afternoon, I'm trying to find out people's experiences with trading in a Model S for another Tesla. Did you get anywhere close to what you feel is market value or was it substantially low?

I'm mulling over the numbers to see if buying out my S makes any sense in order to then trade it in or whether to simply call it a day and walk away. I've got plenty of time to figure it all out and make a decision, but am starting the ball rolling for now.

Any suggestions or advice would be welcome, particularly from those around Toronto.

You will definitely NOT get anything close to selling it privately. However its a royal PITA to sell a car privately - but YMMV.

 

[P85_DA]

Sounds like OP has a lease not real clear but if lease my experience is best if just turn in and pay any overages on mileage you will not get a better value if you buyout and trade in ..the Tesla’s residuals are horrible

 

[TrevTremaine]

Sounds like OP has a lease not real clear but if lease my experience is best if just turn in and pay any overages on mileage you will not get a better value if you buyout and trade in ..the Tesla’s residuals are horrible

That's what I figured but the numbers I'm seeing for used are higher than expected and trying to figure out if my residual might buy me a little bit back, but I can't see that in reality. I thought that I'd ask to see what others have experienced. Normally, it never makes sense to buyout but the numbers I'm seeing on Autotrader and Tesla for selling used seem sufficiently high that you wouldn't be able to negotiate it below the residual. For instance, if your residual is ~$50K and the used cars are going for ~$80K I can't see negotiating the price down on that used car to that ~$50K mark - unless I'm totally out to lunch (which I may very well be at the moment).

 

[P85_DA]

Those used prices are most likely private sales ..Tesla won’t ever come close to those numbers at least here in US ..in my case a few years back I just turned in my lease paid a few for some overage miles ..as other poster mentioned u can get more in private sale but just a pain to go thru process if u are in a hurry

 

[Vinade]

Montreal area here.

bought a Model X LR+ this summer. Tesla offered me 36k for my pristine S P85DL...

sold it privately for 60k.. I think i could have gotten a little more with patience, but my X was coming and i had a serious buyer..

i was a little disappointed, and a also a little insulted by Tesla’s offer... they really dont want used cars. I can understand lowball offers for other brands, but for a Tesla?

if you are not in a rush, definitely sell it privately, then order your new Tesla.

I love the new car!

 

[Vawlkus]

i was a little disappointed, and a also a little insulted by Tesla’s offer... they really dont want used cars. I can understand lowball offers for other brands, but for a Tesla?

Something to keep in mind: dealers trade cars around all the time, so they don’t mind having cars on the lot, and they typically have large enough lots so they don’t really notice.

Tesla lots are almost ALL tiny by comparison; they literally do not have the space to store cars coming back to them. This is unlikely to change, since Tesla is forward looking to when self drive is an option, and they can move inventory remotely without needing trucks.

Since Tesla also doesn’t join dealership associations, they don’t have the option to shift cars from themselves to other car dealers easily.

All that points to Tesla not wanting used cars clogging up their stores, hence their uniform low bids on used cars.

 

[Type-S]

their trade in values are terrible

They offered me 95k for my Raven X LR with FSD and 10K on it

Last year they offered me 46k for a non tesla car that I sold privately for just under 80k

 

[Struja]

When I tried to trade my Lexus to Tesla, they told me the simply provide the specs of my car to a wholesaler who actually buys the car. Not sure if they do the same with trading in another Tesla, but similar to what @Type-S said, I ultimately sold my Lexus for 50% more than what Tesla offered me and didn't get called a liar, like I was from the Tesla rep.