What are your experiences with trading in your ICE car to Tesla? Do they give you a decent price? Any other recommendations?
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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?
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.
No Trade Example
90K Tesla being bought.
9.25% sales tax in Chicago = total price of $98,325
Sell Used Car for say 39,000
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 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
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.
Way lower than KBB? DAMN! You mean lower than KBB trade in value? or KBB private sale value (just making sure!)
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.
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.What are your experiences with trading in your ICE car to Tesla? Do they give you a decent price? Any other recommendations?
Tesla gave me ~$900 above KBB for my car.
I just sent photos of my pretty loaded 2012 Prius to Tesla for an estimate. I have also contacted the local Toyota dealer to see what they can do. I'll let you know who has the fairest offer. If Tesla is at least 92% of the Toyota offer, then it will make sense to go with them for the tax savings, plus I won't have to set foot in a #$%#$&* car dealership.
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.