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What comes first: VIN or Trade-On Offer

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either or. If you get a VIN first though, you might not have adequate time to get the trade in done before they force you to take delivery (1-3 weeks).
Bottom line, you can (and should!) hold off on trade in decision until end of the process -- Unless you think the prices are about to crash.
 
You can get a trade in offer pretty much as soon as you order the car (it will expire in 30 days or 1000 miles though). You usually don't get a vin until 1-3 weeks before arrival (depending where you are located).

With resale values continuing to rise (and Tesla continuing to increase the new price), I would wait until you are close to delivery to get a trade value.
 
Thanks, sounds like typical Tesla. I do have a fall back, CarGuru just appraised my 2020 LR AWD with 21K miles at $64K. Given the tax credit, no need to rent a car (we are a one car family) and convenience of just trading it in the same day we take delivery, I calculate if Tesla comes in at $56K it’s a wash.
 
I believe it has changed and Tesla will not give a trade in figure until just before the new car arrives. When I have tried to get a trade in value the web page says not available until closer to car arrival.