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Trading in your ICE

Discussion in 'Model S: Ordering, Production, Delivery' started by kuttakamina, May 25, 2015.

  1. kuttakamina

    kuttakamina Member

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    What are your experiences with trading in your ICE car to Tesla? Do they give you a decent price? Any other recommendations?
     
  2. Sm4llz

    Sm4llz Member

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    I have a 2011 Subaru STI. I went to Carmax and they offered me $21k. Tesla offered me $22.5k. I'm going to try selling on my own. It's likely I'll get between $25k-$27k if the buyer wants the mods and I sell here in Colorado.
     
  3. travwill

    travwill Member

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    Tesla lowballed me a little on my Toaureg Hybrid so selling on my own to private party to make more. But, in any case you have to figure out the difference between the sales tax you would save combined with that the dealer/Tesla offers on trade in versus how much you make private party.

    E.g. Example where makes sense to trade-in

    No Trade Example
    90K Tesla being bought.
    9.25% sales tax in Chicago = total price of $98,325
    Sell Used Car for say private 37,000...

    Trade In Example
    90K Tesla being bought
    9.25% sales tax, but with 35,000 trade in. = sales tax only paid on 55,000
    Total price of new Tesla then is = 95,087 (e.g. 3K approximate less sales tax, so like selling for 38,000 used car)

    So in the scenario, if you can make more than 3K more than what Tesla offers it makes sense to sell private. If not, then trade in is better deal.

    -T
     
  4. kuttakamina

    kuttakamina Member

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    Thats a very good point!
     
  5. DrumCoder

    DrumCoder Member

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    I'm still in the process - I have a tentative delivery this Thursday (5/28) - but Tesla said that an appraiser will come to my house and appraise the car, and they'd be contacting me. Well, I finally got contacted last Thursday, and told them that I had a flexible schedule (I work from home) and they said they'd call me back. They finally called me back Friday morning and told me the earliest available appointment is June 3rd - almost an entire week after my delivery.

    They said that they'd have to inspect it on-site (which they actually did when I ordered, but deemed it too early to divulge the value) but this means I'll have to make a snap decision on site on whether to accept their offer or not. The preliminary number they gave based on my VIN and mileage was way lower than KBB in poor condition (and my car should be in good condition) but my car is so old and so low valued even by KBB that it may not be worth the hassle to try to sell it myself. It wouldn't affect my TAVA tax all that much and it's convenient.
     
  6. kuttakamina

    kuttakamina Member

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    Way lower than KBB? DAMN! You mean lower than KBB trade in value? or KBB private sale value (just making sure!)

    travwill, SM4llz, is this your experience too?
     
  7. DrumCoder

    DrumCoder Member

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    Lower than the trade-in value.

    We're talking about a 2004 Mustang (low end) with 102k miles on it, so it's a difference of about $1k. Really inconsequential when I'm getting an $80k vehicle to replace it.
     
  8. kuttakamina

    kuttakamina Member

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    For a 1K difference, I'd agree with you.
    My car trade in comes at 15.5K. I wonder what Tesla will offer me.
    Private party sale can't be that hard :) (esp. if you offer a good deal .. my car is in superb shape!)
     
  9. boonedocks

    boonedocks Member

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    Traded in a 2013 Ford C-Max SEL with 69,750 miles. (Traded in last Wednesday and delivery is schedule for 6-6-15). I was given $11,700 which was dead on with KBB trade in for my car. Could have gotten a little more private but additional taxes and dealing with selling it did not outweigh my trade offer.
     
  10. beeeerock

    beeeerock Active Member

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    They're not in the used car business, so near as I can tell, they just bring in a wholesaler to make you an offer. I live away from the store, so they did it with a description and a couple of photos. Even with the trade in tax advantage, the number was way lower than I should get privately. I've put it up for sale and will see what I get. Worst case, I think I can get what they offered plus tax advantage. For the $6,000 difference between realistic and their price, it's worth a try for me.
     
  11. TomServo

    TomServo Member

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    I'm in a similar position, looking to buy a CPO but the nearest Store is in Chicago about 280 north of me. But we do have a Tesla Service Center 25 miles from my home in St Louis. I called the STL facility and they said they could get my car appraised in about 15 minutes and that I could have the CPO car shipped to them for delivery.

    So I'll have CarMax look at it first so I have a second opinion and then have my car appraised in St Louis Tesla Service Center and go from their.

    My question is will they ship the car to the St Louis Service Center and then I buy it from them or do I actually have to buy it before they ship it?

    Anyone know now how that works?
     
  12. gnxs

    gnxs Member

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    Tesla gave me ~$900 above KBB for my car.
     
  13. kuttakamina

    kuttakamina Member

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    Thanks. Looks like in MD and VA, you don't get the (new-old) sales tax benefit. You have to pay sales tax on the entire price of new.
    It's looking like I'll have to deal with the hassle of private sale. :-/
     
  14. bjwModelS

    bjwModelS Member

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    Tesla offered me $18,500 for a loaded 2013 Kia Optima SX with 15K miles on it. I went to Carmax and got an offer of $22K, and then a 2nd offer of $22K via Cars.com buying program. Took it to Carmax and walked out with a check 15-20 minutes later. After considering tax savings I still came out over $2,000 ahead. And we went to a 1-car family for 2 months, which will save some $ in gas, insurance, future depreciation, etc.
     
  15. Sosius

    Sosius a.k.a. Uptown Frunk

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    I just sent photos of my pretty loaded 2012 Prius to Tesla for an estimate. I have also contacted the local Toyota dealer to see what they can do. I'll let you know who has the fairest offer. If Tesla is at least 92% of the Toyota offer, then it will make sense to go with them for the tax savings, plus I won't have to set foot in a #$%#$&* car dealership.
     
  16. adamred

    adamred Member

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    Tesla's outsourced wholesaler offered me $30k for my LOADED 2012 BMW X5 with 35,000 miles. Several thousand below KBB. I'm going to keep it through the summer and take it to a local BMW dealer when it comes time to get my kid a car (likely a used X1), and hopefully BMW will do better, considering they are selling close to my exact car there on the used market for $40k+.
     
  17. Sosius

    Sosius a.k.a. Uptown Frunk

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    Ug. Got the quote and it's about $3k lower than "fair" condition trade-in from KBB.com. Gonna take it to the Toyota dealer to see what they can do for me.
     
  18. kuttakamina

    kuttakamina Member

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    BTW, Tesla DS tells me that in Maryland I should get sales tax break on the price of the trade-in.
    I'm not sure what to believe anymore LOL
     
  19. Jiminy

    Jiminy Member

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    A bit of a lowball compared to the Cadillac dealer here in Suburban Chicago for an XTS Premium. with 16000 miles on it. $30,500 vs $32,000. But not bough to worry about. The tax savings and reduced aggravation should even it out. We are satisfied with the service.
     
  20. Dakkor

    Dakkor Member

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    Wow! Just got my quote today from Tesla for my 2014 Kia Forte SX fully loaded with 23K Kilo on it... they offered me 10K$ CANADIAN. I Said no, they are like 20K at the dealer right now... Im pretty sure they quoted me for a LX...
     

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