Trade in MY bought 7 months ago to buy a new MY and get paid about $2000 after federal and state tax credits

[maroon555]

Was able to order a gray 7-seater MY (2023) from inventory discounted by $7800 (52000-7800). Trade in my white 7-seater MY bought 7 months ago for $37300. After 7500 federal tax credit and 3500 state rebate, at the end tesla will refund me about 2000. I guess it's a not a bad deal to replace a used car with a new one with the exact same configuration except for the color and still get paid. Hopefully the new car does not have any issues come delivery time. Otherwise I will lose $250 order fee.

 

[Ostrichsak]

Was able to order a gray 7-seater MY (2023) from inventory discounted by $7800 (52000-7800). Trade in my white 7-seater MY bought 7 months ago for $37300. After 7500 federal tax credit and 3500 state rebate, at the end tesla will refund me about 2000. I guess it's a not a bad deal to replace a used car with a new one with the exact same configuration except for the color and still get paid. Hopefully the new car does not have any issues come delivery time. Otherwise I will lose $250 order fee.

Did you omit sales tax & new vehicle registration from your analytics? Those two #'s are fairly steep (depending on where you live in terms of licensing rates and potential taxable difference, if any) and would easily eat into any delta between the two absolutes.

 

[maroon555]

Did you omit sales tax & new vehicle registration from your analytics? Those two #'s are fairly steep (depending on where you live in terms of licensing rates and potential taxable difference, if any) and would easily eat into any delta between the two absolutes.

Trade-in value reduced the total sales tax on this transaction to $500. The $2000 refund is after everything including tax, title and registration.

 

[exfed2001]

Was able to order a gray 7-seater MY (2023) from inventory discounted by $7800 (52000-7800). Trade in my white 7-seater MY bought 7 months ago for $37300. After 7500 federal tax credit and 3500 state rebate, at the end tesla will refund me about 2000. I guess it's a not a bad deal to replace a used car with a new one with the exact same configuration except for the color and still get paid. Hopefully the new car does not have any issues come delivery time. Otherwise I will lose $250 order fee.

I just did the same thing a bit over a week ago. I had to put out a small sum, as the NJ rebates are temporarily unavailable, and I may be liable for last year's rebate because I haven't kept the old one long enough. But, I have a fresh car in a different color that I like, fresh warranties, the same matrix lights, and HW4 instead of HW3.

 

[davelv]

Never do a lease assuming you can end it early.

 

[Ostrichsak]

Never do a lease

FTFY

 

[maroon555]

Never do a lease assuming you can end it early.

No lease involved. Never did lease. Always paid cash for my car purchases.

 

[chdlmc]

My state doesn’t have the tax credit, but I wish I ordered a hitch, and my kids wish I got a different color. But midnight silver is no longer available so it’s gonna get more cool with time.

Would be interesting to see about this, but how did you get the quote on your trade in? You have to put the order in first, right?

 

[davelv]

To get tradein value you can just put in your trade info without an order.

Be aware Tesla doesn’t sell used cars. Trades go to auction. You will be offered worst day low auction price.

 

[davelv]

No lease involved. Never did lease. Always paid cash for my car purchases.

Sorry, my comment got posted on the wrong thread.

 

[Ostrichsak]

To get tradein value you can just put in your trade info without an order.

Be aware Tesla doesn’t sell used cars. Trades go to auction. You will be offered worst day low auction price.

As bad as that sounds to some who are learning this for the first time, it isn't even the whole picture.

Tesla won't give you auction price because they would actually lose money on your trade to process it. They'll give you below auction just to break even on processing, storage, logistics, etc. Then, because Tesla doesn't even want to be in the used car business in the first place, they'll pad that number even more to make it worth their time.

Used cars is a massive profit center for Tesla and they rarely even resell them themselves. It's crazy that anyone would take Tesla up on this offers that aren't even high enough to be considered a lowball. You will ALWAYS be able to keep more of your depreciation if you sell the car yourself private party. It's not even difficult to do these days.

 

[ChiefRollo]

Was able to order a gray 7-seater MY (2023) from inventory discounted by $7800 (52000-7800). Trade in my white 7-seater MY bought 7 months ago for $37300. After 7500 federal tax credit and 3500 state rebate, at the end tesla will refund me about 2000. I guess it's a not a bad deal to replace a used car with a new one with the exact same configuration except for the color and still get paid. Hopefully the new car does not have any issues come delivery time. Otherwise I will lose $250 order fee.

Did you forget to account for the tax rebates you’re still getting this tax season for the 2023 Tesla?