Procedure for Selling MY

[NJEV-Don]

I have a 2020 Long Range MY in Red with Black Interior and 19” Gemini Wheels. I missed out on a good number of upgrades that I’d like. So thinking I’d keep my options open I put a deposit ($100 at the time) down at the end of July. I just got my VIN for a new 2022 version of the same exact spec car with the upgrades. My old vehicle has FSD and Acceleration boost. It also has full ceramic coating and front highway package PPF. All totaled I’m in for $64,000 since my car was $48,290 with the red paint before Destination title and registration due to a $5000 NJ rebate and no sales tax. The $16,000 more covers all the upgrades and mods I’ve done. The new same spec 2022 Long Range MY in red will be $55,990 before Destination, title and registration. I’m ok not adding Acceleration boost. I’m ok with with skipping it or maybe going FSD subscription since at $200 a month it will take 50 months to get to the $10,000 current cost. I’m currently waiting for Vroom and Carvana to give me their best prices. If it’s approaching $59,000 or so which I’ve gotten before when considering this I may jump on it.

What does one need to do to sell a Tesla? Do a factory reset I assume? Remove the car from my account I assume? Any other steps needed?

Any thoughts if I’m making a good decision? I’ve had the 2020 for 15 months. It’a got 9,000 miles on it. I owe nothing on it. My offer should cover the car with some money left over for me.

I’m motivated by the heated steering wheel, double panel front glass, better wiper arms cleaning, new center console, bio weapon defense mode, glovebox USB for sentry, auto dimming side mirrors, one piece rear casting, 82 kWh battery, and new projector lamp headlights. What does everyone think? I know it’s a personal choice but I’d like some feedback.

 

[DanDi58]

I think when you sign into your account on a computer, there is an option for third-party sale.

Just FYI - I'm not sure it's been confirmed that the MYLR has the projector headlights.

 

[NJEV-Don]

I think when you sign into your account on a computer, there is an option for third-party sale.

Just FYI - I'm not sure it's been confirmed that the MYLR has the projector headlights.

The third party sale would probably have to be a person I think. There is an option to “remove” the car if it’s sold.

 

[mrmtb]

Carmax offered me the most for my 2021 model 3 FYI. Just sold yesterday and did a factory reset and removal from account on the website.

Can't really give any advice though. So many variables. I saw it as another investment decision and tried to time it so I got the most for the 3 and paid the least for an MYP.

 

[N1L CO2]

If you sell to a 3rd party dealer like Carmax/Vroom/Carvana, you are going to lose the money you paid for FSD. Once the title changes hands, Tesla will deactivate FSD on the VIN.

 

[NJEV-Don]

If you sell to a 3rd party dealer like Carmax/Vroom/Carvana, you are going to lose the money you paid for FSD. Once the title changes hands, Tesla will deactivate FSD on the VIN.

Really? Then why do they ask if the car has it? It seems to increase their offer price.

 

[N1L CO2]

Really? Then why do they ask if the car has it? It seems to increase their offer price.

AFAIK, you are only able to transfer it to a private party because you can help them add your car into their app at the time of sale. FSD travels with the VIN and not the person. Not sure if non-Tesla dealers now have a way to talk to Tesla to reactivate FSD.

Tesla makes it easier to add cars to your account when purchased from a third party

Tesla updated their website last night to make it a little easier to add a Tesla when purchased from a third party.

driveteslacanada.ca

 

[jjrandorin]

If you sell to a 3rd party dealer like Carmax/Vroom/Carvana, you are going to lose the money you paid for FSD. Once the title changes hands, Tesla will deactivate FSD on the VIN.

This is not true, and people seem to get this mixed up all the time.

The only time FSD is removed on title transfer, is if the car was owned again by TESLA ITSELF at some point. The reason this is so confusing for people looking to buy used cars FROM a third party dealer, is they have no idea of the chain of custody of that car. For this OP, if the sell directly to carmax and then carmax sells directly to someone else (and tesla never owns it) FSD will stay with the car.

If, however, you are looking to BUY a used tesla, you have no idea if that car at carmax or carvana was traded into tesla, then sent by tesla to auction, then bought by carmax.... or if carmax bought it directly from the owner. In the Owner --> Tesla --> Auction--> Carmax chain of custody, FSD will not stay with the car. In the Owner --> Carmax--> new owner chain of custody, it WILL stay with the car, but there is no way for a BUYER of the used car to know the chain of custody.


The only way a buyer can know chain of custody is to buy directly from the first owner, and the first owner show them that FSD was purchased. In that case, the buyer of the used car will know it stays with the car.

Now, with all that said, "what" FSD is worth or not worth is up to the individual purchasing person / company.

 

[dasmittyman]

This is correct @NJEV-Don . FSD is only removed if Tesla get their hands on the car.

Procedure for Selling MY

I have a 2020 Long Range MY in Red with Black Interior and 19” Gemini Wheels. I missed out on a good number of upgrades that I’d like. So thinking I’d keep my options open I put a deposit ($100 at the time) down at the end of July. I just got my VIN for a new 2022 version of the same exact...

teslamotorsclub.com

 

[NJEV-Don]

Got shitty offers for my current car from both Vroom and Carvana. Vroom was better by a few thousand. More than I initially paid for the car itself but would lose pretty much most of the money spent on FSD, Acceleration Boost, PPF and Ceramic Coating. Not thinking it’s a good idea. May put my order on hold. See if values go up. I’m surprised that with the wait times that I can’t recoup the value of upgrades and mods. Never mind make a profit. Any other options for selling? I’m reluctant to sell privately. Too many things can go wrong with the deal. Bad checks etc. more complicated. Carvana did well by me twice before. They’re sucky for Teslas in my experience.

 

[jjrandorin]

What a world we currently live in, where an offer of "initially more than I paid for the car" is considered a crappy offer. Before "this crazy market" car mods like ceramic coating, PPF, etc never had value in the slightest other than "selling your car faster".

We are also in a world where, at least on model 3s, people with 2020 SR+ model 3s without FSD are getting offers that are 10k more than offers on 2018 model 3Ps with FSD. Point is, it makes zero sense, and I wouldnt expect it to last, because it makes no sense (lol).

 

[NJEV-Don]

What a world we currently live in, where an offer of "initially more than I paid for the car" is considered a crappy offer. Before "this crazy market" car mods like ceramic coating, PPF, etc never had value in the slightest other than "selling your car faster".

We are also in a world where, at least on model 3s, people with 2020 SR+ model 3s without FSD are getting offers that are 10k more than offers on 2018 model 3Ps with FSD. Point is, it makes zero sense, and I wouldnt expect it to last, because it makes no sense (lol).

My offer wasn’t very much more than I paid for the vehicle. I just thought the FSD and Acceleration boost would have some aftermarket value as well. I didn’t need to make a profit on top of all the mods and upgrades but some portion of it would not be unexpected in my opinion. It’s fine that you disagree with the current market trend of crazy prices for used Teslas and used cars in general. The market is what the market is. The 7-11 month wait times for Long Range Model Y‘s is why people are willing to pay more for slightly used as opposed to wait all that time for brand new.

 

[N1L CO2]

You're discounting others who are doing the same which is contributing to the lack-luster offers. Tesla sold 240k units of the Y just in the last quarter. With the demand being what it is, I can only imagine the number of folks who took delivery are flipping it for a profit, hence, skewing the curve for supply and demand.

I work with Big Data all day long. The offers you are getting from the Carmax/Carvana/Vroom are a result of very intricate algorithm that tracks all of the above. As the demand for "near new" Ys are filled by those who don't have the patience to wait, it will be increasingly difficult to receive a lucrative offer because they (dealers) too, have to build-in their profit margins in the process.

 

[NJEV-Don]

You're are discounting others who are doing the same which is contributing to the lack-luster offers. Tesla sold 240k units of the Y just in the last quarter. With the demand being what it is, I can only imagine the number of folks who took delivery are flipping it for a profit, hence, skewing the curve for supply and demand.

I work with Big Data all day long. The offers you are getting from the Carmax/Carvana/Vroom are a result of very intricate algorithm that tracks all of the above. As the demand for "near new" Ys are filled by those who don't have the patience to wait, it will be increasingly difficult to receive a lucrative offer because they (dealers) too, have to build-in their profit margins in the process.

Thanks for that thoughtful, common sense response. I appreciate It. What’s odd is Carvana is selling similarly spec’s 2020 Model Y’s for $7,000 - $8,000 more than their offer to me so they are also trying to maximize their own profit. And those are vehicles that say “sale pending”. But I see your point.

 

[N1L CO2]

With that said, I would look at dealing with a private party. Issues with payments are next to none these days. Ask for a cashier's check vs a personal check. Once the cashier's check is cut/verified by a bank, it's as good as paper currency.

 

[NJEV-Don]

With that said, I would look at dealing with a private party. Issues with payments are next to none these days. Ask for a cashier's check vs a personal check. Once the cashier's check is cut/verified by a bank, it's as good as paper currency.

Any recommendations as to what site is best to list it at?

 

[polyphonic54]

Did the OP at least take it to CarMax? They are giving great value for all cars, especially Teslas. I attempted to sell private party and got 10-12 lowballers. CarMax gave me exactly what I listed the car for. Completely painless. They didn’t even drive it.

As far as FSD, even Tesla undervalues it on trade-ins. As a consumer it’s pretty cool, but I wouldn’t pay a anything extra for it since it’s so far away from the promised capabilities that it would be useless for me.

 

[NJEV-Don]

Did the OP at least take it to CarMax? They are giving great value for all cars, especially Teslas. I attempted to sell private party and got 10-12 lowballers. CarMax gave me exactly what I listed the car for. Completely painless. They didn’t even drive it.

As far as FSD, even Tesla undervalues it on trade-ins. As a consumer it’s pretty cool, but I wouldn’t pay a anything extra for it since it’s so far away from the promised capabilities that it would be useless for me.

I am dragging my feet with CarMax because the closest one is 1.5 hours away. I should bit the bullet though. Thanks.

 

[jjrandorin]

My offer wasn’t very much more than I paid for the vehicle. I just thought the FSD and Acceleration boost would have some aftermarket value as well. I didn’t need to make a profit on top of all the mods and upgrades but some portion of it would not be unexpected in my opinion. It’s fine that you disagree with the current market trend of crazy prices for used Teslas and used cars in general. The market is what the market is. The 7-11 month wait times for Long Range Model Y‘s is why people are willing to pay more for slightly used as opposed to wait all that time for brand new.

I didnt mean to imply that there was anything wrong with wanting more, expecting more, etc. I was just commenting on the strange times we are in, where with a mass market vehicle (that is normally a depreciating asset), right now people are expecting more than they paid for it (and getting it).

Supply and demand, and all that. The part I find the most strange (and thus the most interesting) is that SR vehicles are getting offers pretty substantially above Model 3Ps at least for model 3s. Thats the part I am saying "its crazy and unsustainable". Tesla model 3s have done very well on depreciation in general, except for us early adopters who paid a premium (but got tax credits to bring the price back down close to what people are paying now).

Anyway, I didnt mean to imply there was anything wrong for trying to get more, or that I didnt understand supply and demand etc. Hard to tell intention with text though, so I apologize for that.

 

[TSLY]

Happy to report I made a tidy profit selling my leased BMW 540i M Sport to a third party broker (who overpaid I believe) thanks to the good fortune of getting my MY delivered in a timely manner. BMW didn't make things easy, forbidding me to sell directly to third party dealers like CarMax, Carvana, etc. Most car companies now employ this tactic. But there are ways around it.

@jjrandorin, I remember you from Bimmerfest. Pappy Pipes.