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Tesla Trade-in Offer a Joke
- Thread starter rwittick
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- Tesla Inc.
MassModel3
Member
From what I've seen, the only trade-ins they make reasonable offers on is other Tesla vehicles. And even that is questionable. There was a LOT of this when the dual motor versions came out, and people were trading back Model S's only a few weeks old and taking huge hits, while people with older cars were being offered close to what third parties were offering. Close to... but still under in most cases. But Tesla was building up their CPO program, so they had a plan for the trade-ins. What are they going to do with a Mustang? Nothing. They don't have a pre-owned lot like most typical dealers.
No, they don't want your old car. Even if it's new.
No, they don't want your old car. Even if it's new.
Super_Popular
Well-Known Member
Spyder14
Member
My experience was not great either. I wanted to trade a 2011 Porsche 911S Cab & the price I got back from Tesla was very low. It seems to me that when the Model 3 comes out, they need to have a better system in-place or they are going to alienate these potential buyers. My suggestion would be to let those buyers know ahead of time that unless your trade-in is a Tesla, we are not interested. Sell your car privately or go to CarMax, etc.
I bet if you took the Mustang to a Ford dealer, and tried to trade it in on the exact same car, you'd end up at least $10k worse off. But they'd give you a better trade-in, they'd just make sure you payed through the nose for the new one at the same time.
mspohr
Well-Known Member
Cars are a rapidly depreciating asset. You always take a big loss in selling a used car. It's always best to do as little car trading as possible. I tend to buy my cars new and keep them 10+ years... as long as they keep running. You can also do well by buying a relatively recent used car.
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Tesla only sells Teslas. They don't have a used car lot like most dealers. They will buy your car as a "convenience" to you but they don't make any money on it. They basically give you a wholesale auction price. Some new car dealers may give you more for your car since they can bury the higher cost in the price of the new car they are selling as well as financing/leasing profit. Tesla doesn't take a loss on used cars, they just turn them over to a wholesaler.
Redmiata98
Member
I have found that Carmax does well on non-Teslas. If you are planning on trading in a Tesla, get the Carmax and a few other dealer prices BUT make sure you also get the Tesla tradein price. In my case, Tesla's offer was much better than the Carmax price.
CarlK
Active Member
Roamer
Member
The first 100 feet you drove that car the value dropped 20%. If you sell a new car purchase within three years of buying it new you are going to take a large loss. Never buy new unless you plan to hold at least three years and are willing to accept the value drop the second the tires touch a city street. Just driving off the lot you threw 20% of the purchase price out the window.
Big-T
Member
One other note for Model 3 buyers - WA state recently capped their Sales Tax exemption at EV's that are $35,000 or less...but after reading the law itself it looks like that's $35,000 minus your trade in value. So If you had say a $10,000 trade in it sounds like you may be able to get a base model 3 with some upgrades and still not pay sales tax if you trade in your old car. This could easily be a savings of $3,000 - $5,000 in sales tax (depending on how you configure the model 3 and how much your trade in is worth). Definitely something to consider once the model 3 comes out.
I just don't understand these "Tesla trade in offer is a joke" posts and it is such an unreasonable argument.
It just wreaks of entitlement to a certain "value" someone feels they are owed. As others have said, especially considering the tax rebates only apply to the first owner, the moment you take ownership and drive the car off the lot, you pretty much instantly lost about 20% of the value of the car. If you can't deal with that don't buy and sell a new premium car within a short time period.
So if anyone feels the Tesla trade in value is a "joke," please feel free to sell the car for what you feel it is worth on TMC, eBay, cars.com or wherever. The car is only worth as much as someone else is willing to pay for it, not what you feel it is worth or what you feel entitled to receive for your car.
Tesla does not owe anyone the service of buying back a car at a price higher than what Tesla feels it is worth as a trade-in.
It just wreaks of entitlement to a certain "value" someone feels they are owed. As others have said, especially considering the tax rebates only apply to the first owner, the moment you take ownership and drive the car off the lot, you pretty much instantly lost about 20% of the value of the car. If you can't deal with that don't buy and sell a new premium car within a short time period.
So if anyone feels the Tesla trade in value is a "joke," please feel free to sell the car for what you feel it is worth on TMC, eBay, cars.com or wherever. The car is only worth as much as someone else is willing to pay for it, not what you feel it is worth or what you feel entitled to receive for your car.
Tesla does not owe anyone the service of buying back a car at a price higher than what Tesla feels it is worth as a trade-in.
Mark Z
Active Member
I have found that keeping both Model S and X helps me have a 100% working electric vehicle as the other one is at the Service Center getting repaired.
One small problem; they both need repair!
Currently, the resale value of my vehicles is dropping at a slower rate than my TSLA shares. IMHO, that's EV investment diversity.
One small problem; they both need repair!
Currently, the resale value of my vehicles is dropping at a slower rate than my TSLA shares. IMHO, that's EV investment diversity.
MassModel3
Member
Back in my younger days my best friend told me that his uncle owned a car dealership. According to his uncle, the real money is in the used cars. Margins are so tight on new cars from dealer competition and what it costs them to buy the car from the manufacturer, but they can low-ball a trade-in, then sell it for whatever they can get away with. So yeah, car dealers really are thieves when it comes to used cars.
I respectfully dissagree. When I traded in my 2010 Camaro V6, I was offered $13,000 from a lexus dealer, at the time, it needed a emisions solanoid replaced, which showed on the check engine light, so the dealer was aware of this, that is a $600 fix as the Axle, and gas tank need to come out to fix it.
Also, the front sqealed like a wild pig when turning right, another $600 fix. add this to saving $900 on TAX on my next purchase, and figuring private party, already fixed, would fetch $15,000
I figure I made $100 more, than fixing the car myself, and selling to Edentulous characters !
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