Trading in your Model S?

[RBowen]

Hello fellow wait-listers,
Well my number came up and delivery should occur in the next 2-3 weeks. I was curious about what trade-in value they would give me for my perfect, refreshed, almost fully loaded S75D with 2000 miles. I leased it for two years thinking that I probably wouldn’t see my model 3 until late 2018. Who really believed they would be delivering cars in 2017?

Anyway, don’t bother enquiring about a trade in of your leased model S. They offered me $57,200, which is about 57% of the original list price of $99,950, and $11,804 less than the lease residual value of $69,004 (at the end of September 2018). Depreciation in 15 months is almost 43%! Perhaps they know the model 3 is going to cannibalize S sales and drive down S resale values? Anyway, my lease payments including tax are only (for Tesla) $637 per month, so it is far less expensive to keep the S than to trade it in. Or maybe I will consign the lease?

Are others having similar experiences?

 

[Lasttoy]

Thanks putting numbers on their offer. I will sell my S and buy another off the street. I tried to work with South Florida rep, but he wouldn't come off published pricing.

 

[ChadS]

Tesla's offer does not reflect real depreciation, because it is not a good indication of market value. Tesla routinely makes low trade-in offers because many customers will take it because it's the easiest option (especially in states like mine where there is a sales tax benefit to trading in that you don't get if you sell privately).

I just picked up my 4th Tesla today. I always ask about trading in the previous one, but always end up selling it privately for a lot more. Tesla themselves say the trade-in offer is just a "convenience", and that those seeking a great deal will do better selling privately.

Tesla also doesn't seem to want to encourage people to end leases early.

 

[calisnow]

Hello fellow wait-listers,
Well my number came up and delivery should occur in the next 2-3 weeks. I was curious about what trade-in value they would give me for my perfect, refreshed, almost fully loaded S75D with 2000 miles. I leased it for two years thinking that I probably wouldn’t see my model 3 until late 2018. Who really believed they would be delivering cars in 2017?

Anyway, don’t bother enquiring about a trade in of your leased model S. They offered me $57,200, which is about 57% of the original list price of $99,950, and $11,804 less than the lease residual value of $69,004 (at the end of September 2018). Depreciation in 15 months is almost 43%! Perhaps they know the model 3 is going to cannibalize S sales and drive down S resale values? Anyway, my lease payments including tax are only (for Tesla) $637 per month, so it is far less expensive to keep the S than to trade it in. Or maybe I will consign the lease?

Are others having similar experiences?

That is a great lease on your S. I don't know why you'd get rid of it.