Welcome to Tesla Motors Club
Discuss Tesla's Model S, Model 3, Model X, Model Y, Cybertruck, Roadster and More.
Register

Unhappy with the Resale value for my 2019 Model 3

Really tempted to put in an order for a LR 3 (same build as my SR+ with aero wheels, white seats); that build is currently $51k. My SR+ build is now $45k new (I ordered @$40.5k in May). Carvana quote for my SR+ is $45.9k. Assuming the value of my SR+ 3 stays in the $45k range for the next few months, I could conceivably upgrade to a LR 3 for about $5k (and if a renewed tax credit is passed, may even end up getting money back). Almost seems like a no brainer to put in an order and see what happens.
What is sales tax like in your area? When I had bought my SR+ at $39.9k, there was an additional $5k in taxes and registration fees for me in California. Only reason I came out ahead in my sale of the car was due to the fed, state and utility rebates.
 

vickh

Active Member
Dec 16, 2018
3,175
711
az
Really tempted to put in an order for a LR 3 (same build as my SR+ with aero wheels, white seats); that build is currently $51k. My SR+ build is now $45k new (I ordered @$40.5k in May). Carvana quote for my SR+ is $45.9k. Assuming the value of my SR+ 3 stays in the $45k range for the next few months, I could conceivably upgrade to a LR 3 for about $5k (and if a renewed tax credit is passed, may even end up getting money back). Almost seems like a no brainer to put in an order and see what happens.
renewed tax credit will be on lower priced cars only I believe for SR/+? I'm in the same boat and wondering if a new fed tax credit would o allow me to upgrade to higher ranger. I even have a spare car (that I'm saving for my 14.5 yo son) that I can drive while I'm waiting.
 

vickh

Active Member
Dec 16, 2018
3,175
711
az
Nobody actually knows since it's been through about 9000 revisions and none of them have actually become law yet.
yes but I might just place an order to hedge/ monetize the current used market for a free upgrade... maybe.

Problem is about 9% tax in AZ and the free VLT is going away 1/1/22 so I'd have to know tax credit b/f that. The only way to avoid sales tax is to trade thru TSLA and I believe the inflated used prices aren't thru them but carvana etc.

New SR Model 3​

  1. Model 3 Standard Plus Rear-Wheel Drive$43,990
  2. Pearl White Paint
    Included
  3. 18’’ Aero Wheels
    Included
  4. All Black Partial Premium Interior
    Included
  5. Autopilot
    Included
  6. 30-Day Premium Connectivity Trial
    Included
  • Purchase Price$43,990
  • Est. 6-year gas savings- $4,300
  • Potential savings*
    - $4,300
  • Price after Est. Savings$39,690
All savings are experienced after purchase.
See how our savings are calculated
Destination & doc fee$1,200
Hide Details

CashLeaseLoan
  • Purchase Price$43,990
 
Last edited:

Sing830

Member
Aug 12, 2021
26
14
NJ
A quick search of the interwebs suggests not only is there no sales tax on EVs in NJ, but there's no mention of a holding-requirement for the EV that got the $5k rebate. Both of those surprised me.
It is in the agreement under Applicant Eligibility:

6. Retain ownership, or an active lease agreement, and registration of the vehicle with the New Jersey Motor Vehicle Commission for a minimum of 36 consecutive months immediately after the vehicle purchase or lease date. Leased vehicles must reflect a minimum of 36 months on the original lease agreement.
 
  • Informative
Reactions: dmurphy

Sophias_dad

Active Member
Supporting Member
Jul 29, 2018
1,866
2,062
Massachusetts
It is in the agreement under Applicant Eligibility:

6. Retain ownership, or an active lease agreement, and registration of the vehicle with the New Jersey Motor Vehicle Commission for a minimum of 36 consecutive months immediately after the vehicle purchase or lease date. Leased vehicles must reflect a minimum of 36 months on the original lease agreement.
Thanks, I stand corrected!

Sounds like @dropgems has got some 'splainin to do :)
 

dmurphy

Active Member
Supporting Member
Dec 7, 2018
4,025
5,710
New Jersey - Morris County
A quick search of the interwebs suggests not only is there no sales tax on EVs in NJ, but there's no mention of a holding-requirement for the EV that got the $5k rebate. Both of those surprised me.

No sales tax is absolutely a thing, and there's no holding requirement for that.

The rebate, however, absolutely DOES have a 36-month requirement. Any less than that, and you're supposed to pay back the prorated share of the rebate (1/36th for each month remaining.)

Now, being a state government.... will they catch on? Probably not right away. But someday - probably when the state's in a budget crunch - someone will run a VIN audit and send out a set of retroactive bills. Then we'll have a Channel 7 news segment called "Tesla Nightmare!" and they'll feature a bunch of folks complaining about how this isn't fair and they had no idea and why are they being singled out and they wish they had bought a Chevy.

Yeah, I can see it now.
 
  • Like
Reactions: brkaus

SkepTeach

Member
Jun 18, 2018
66
53
Arkansas
The market is absolutely nuts right now. A friend of mine recently sold his M3 LR that he bought back in June at $48k to a small EV dealer here in my state for $53,500. That more than made up for sales tax he paid for it and the 20" black Tesla wheels he bought for it from a private seller. He decided he had the need for an SUV so he sold his M3, bought an ID.4, and didn't have to pay sales tax on it because his M3 was sold for more than the purchase price of the ID.4.

I am currently in the process of working with GiveMeTheVIN to finalize their purchase of my Mustang Mach-E Premium. I actually wasn't planning to sell it, but when they offered $54k for a car I paid $47k for in August, and for which I'll be receiving the full $7500 tax credit next spring, it changed my mind. I have had a M3 SR+ on order since early July, *almost* cancelled it when I bought the MME, but thank goodness I didn't! Now I'm just torn between hoping it gets delivered within 60 days of signing off on the bill of sale for the MME so I can get the sales tax break, or taking delivery in '22 when I *might* be able to get the renewed tax credit. Eh, it's a win win either way for me I suppose.

Incidentally, right before I decided to sell the MME, I requested a custom plate saying "REDSHFT," as that car is Rapid Red and it's a nod to other physics nerds. Wouldn't you know it, the SR+ I'm waiting for also happens to be red, so no need to scrap that plate!
 
I didn’t take any hit, I made like over 5k and drove the car for a year. I bought the car during a price drop, bought fsd when it was 7k, got a 5k rebate and didn’t pay any sales tax. I jumped to a plaid.

You're going to have to return the rebate since you didn't own the car for the required minimum time frame. I did not know about the lack of sales tax, that's a nice incentive.
 

Delraybeach

Member
Supporting Member
Aug 18, 2021
60
15
Florida
I just did, ordered a white on white LR a few days ago 10/25. Expected mid or end December. I will sell the car with the lighter weight Enkei black enamel 19” wheels. I have the Tesla 19” ones powder coated so I’ll use those and sell the 4 aero 18” wheels. I will start the selling process of my SR+ about a week or so before EDD of my LR. Carvanna will be my first thought. Any comments or ideas.
 

Products we're discussing on TMC...

About Us

Formed in 2006, Tesla Motors Club (TMC) was the first independent online Tesla community. Today it remains the largest and most dynamic community of Tesla enthusiasts. Learn more.

Do you value your experience at TMC? Consider becoming a Supporting Member of Tesla Motors Club. As a thank you for your contribution, you'll get nearly no ads in the Community and Groups sections. Additional perks are available depending on the level of contribution. Please visit the Account Upgrades page for more details.


SUPPORT TMC
Top