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Trading in Model S

Discussion in 'Model S' started by BBB4000, Nov 1, 2016.

  1. BBB4000

    BBB4000 Member

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    Anyone have any experience trading in or selling their Model S to the DS? We all know how much the CPO's sell for, but I am curious how much the DS pays for those cars before turning them over and reselling them. Are people losing a lot of money selling back to the DS?
     
  2. jelloslug

    jelloslug Active Member

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    Go and get a free Carmax quote first. At least then you will have a baseline.
     
  3. BBB4000

    BBB4000 Member

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    I don't have a car to sell, I just ordered mine :) I am just curious if people feel they get a fair deal from the DS or if they are taking a pretty big hit compared to what the DS resells the car for.
     
  4. NAVALARCHITECT

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    Usually with the DS is always a big hit.
     
  5. brkaus

    brkaus Active Member

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    The general view here is Tesla does not offer top dollar for trade in cars. That can be said of most dealers (unless they are jacking up the new car price to offer a "deal" on the trade ).
     
  6. davidc18

    davidc18 Active Member

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    You will not get the best deal from Tesla. They offer the wholesale price. They will match CarMAX (if higher) and in some states the trade in value is deducted from the new car sale price to reduce the sales tax owed.
     
  7. muleferg

    muleferg Active Member

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    You gonna be shocked when you get the offer back for your car. Sold my Model S for lots more.
     
  8. davidc18

    davidc18 Active Member

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    Just for grins we asked what our 70D would trade for and it was about 20K less than they are sell privately for. FYI.
     
  9. BBB4000

    BBB4000 Member

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    Wow that's shocking and depressing. B/c Tesla offers such a stellar warranty on their CPO's, it really discourages private party sales. This means Tesla can basically take full advantage of people trying to trade their cars in.
     
  10. rfmurphy81

    rfmurphy81 Member

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    I also asked my OA how much my 70 would be worth. I've had it for 8.5 months and 10k miles so far. If I trade in to Tesla directly, I would take a $25k hit from the price I paid. I understand depreciation on luxury cars is pretty high in the first year, but this amount is too rich for my blood. Tesla also subtracts a cost to sell which in my case was almost 6k. FYI
     
    • Like x 1
  11. Pollux

    Pollux Active Member

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    Hi, @BBB4000, how did the amount Tesla offered on trade-in for your 70D compare to the amount that your 70D would sell for as a certified pre-owned from Tesla? (I've been looking at the ev-cpo.com website.)

    Thanks,
    Alan
     
  12. BBB4000

    BBB4000 Member

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    I think you have the wrong person. I didn't have a 70D to trade in. I am wondering the same thing though if someone wants to share.
     
  13. Pollux

    Pollux Active Member

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    Apologies! I should have addressed my question to davidc18.
     
  14. Pollux

    Pollux Active Member

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    Hi, @davidc18, how did the amount Tesla offered on trade-in for your 70D compare to the amount that your 70D would sell for as a certified pre-owned from Tesla? (I've been looking at the ev-cpo.com website.)

    Thanks,
    Alan
     
  15. StuartPDX

    StuartPDX Member

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    I sold my 90 for $10k more than Tesla offered.
     
    • Informative x 1
  16. Pollux

    Pollux Active Member

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    Hi, @StuartPDX,

    Do you happen to know how much an equivalent to your 90 was selling for as a CPO?

    I'm thinking that the resale value of my 2013 P85+ (which I'm planning to resell this month), is bounded on the low side by Tesla's offer to me (based on the Residual Value Guarantee) and on the high side by what Tesla is offering a 2013 CPO for. That's a spread of about $4K. Keeping in mind that the Tesla CPO also comes with a warranty. While I have an extended warranty, and a few nice additions on my car (such as Xpel over the full body), it's hard for me to see that a buyer would want to pay MORE for my private sale than what they would pay for a CPO.

    So I'm thinking that your 90, at the time you sold it, would have had an equivalent CPO version that cost a little more than what you got paid in the private sale.

    Could you confirm or refute my conjecture?

    Thanks,
    Alan
     
  17. BBB4000

    BBB4000 Member

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    10k more via private party?
     
  18. davidc18

    davidc18 Active Member

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    I don't see any 70D listed but there is an S60 (2015) listed for 63,000 which would be +15,000 more than the trade in offer on the 2015 70D. If you talk to anyone at the SC they can relate to how unhappy people have been with the offers, and they are getting a lot of calls with the AP 2.0 announcement. The worst hit is on cars less than 6mo old, as you can imagine.
     
  19. jelloslug

    jelloslug Active Member

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    Don't forget to subtract the tax credits from the depreciation amount. That will give you a much better representation of the real deprecation.
     
  20. Pollux

    Pollux Active Member

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    Thank you, kind sir!
     
  21. Terapin

    Terapin Member

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    For me it was about $15k CAD less than the price of the equivalent Pre-owned vehicle on the Tesla website.
     

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