What does tesla do when trade-in value exceeds price of new car?

[edwinlincoln]

Hey,

I received a trade-in quote for my G wagon (please forgive me, my daily driver is an S*) and it's higher than a new Model S. I couldn't find anything in the FAQ about it so I wonder if anyone has had experience trading in a car to Tesla with remaining credit.

Does it just zero out the bill and result in a check from Tesla? Or will Tesla force me to buy 2 Model S's?

Bonus question: Any luck negotiating trade-in value with Tesla? Tesla's offer on the wagon is decent but their form did not ask about the slew of options it has. It likely doesn't matter on wholesale, but other dealers, in trying to get me to take their offers, have said my car would wholesale for $110k (and they offered $115k). Tesla offered less than $110k, so I don't know if they are going with wholesale value minus a gas-guzzler discount, or if they are just hedging their risk by low-balling.

*In a way, I'm doing the world a favor by buying the wagon (using up a built allocation) and keeping it stored in a garage.

 

[AMPd]

When I traded in my vehicle in 2015, it was 28k above the purchase price, Tesla sent me a check in the mail. Took about a week to get it.
This was in 2015 but I assume it’s all still the same since Tesla is giving you what they’re getting from the wholesaler.

edit; also your last point is funny because that’s exactly what I tell myself about my V10 M5, that averages around 10mpg “it’s better for me to own it and keep it parked rather than sell it and have someone drive it”

 

[Destiny1701]

When I traded in my 2017 P100D a year later, it had 30k of value on it as it was a lease. Initially there was a 55k discount on the car (courtesy Tesla lol) so the car ended up with positive equity.

They offered me a 30k chq or could choose whatever portion I wished to another vehicle and the rest returned as cash.

 

[edwinlincoln]

When I traded in my 2017 P100D a year later, it had 30k of value on it as it was a lease. Initially there was a 55k discount on the car (courtesy Tesla lol) so the car ended up with positive equity.

They offered me a 30k chq or could choose whatever portion I wished to another vehicle and the rest returned as cash.

I'm actually very curious now, how much did it end up costing you once you account for down payment, monthly fees...etc... minus that 30k? (Basically, how much did you end up spending?) This sounds pretty incredible, haha.

 

[Destiny1701]

I'm actually very curious now, how much did it end up costing you once you account for down payment, monthly fees...etc... minus that 30k? (Basically, how much did you end up spending?) This sounds pretty incredible, haha.

My down payment was a whopping zero as the 55k was taken as a down payment...all courtesy Tesla

My Monthly payment was $1500 cnd (approx $1100 usd) for the time I used it. I also received a 14k govnt rebate at the time lol.

With 30k chq plus 14k...I took in 44k on this deal less my payments which is basically for time used..approx a year.

It was a crazy deal which will never happen again as Tesla will no longer provide deep discounts on leasing and the govnt rebate is now $0 for model S.