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My intended trade-in procedure for Model 3 delivery day.

Discussion in 'Reserving, Ordering, Production, Delivery' started by Rich M, Oct 12, 2017.

More threads by Rich M
  1. Rich M

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    So as discussed in a few other threads, we know Tesla is not trying to be a used car dealer, but they will take your car as trade at auction value, or match a CarMax appraisal.
    So here's my plan for Model 3 delivery day:
    1. Go to CarMax first and get an appraisal
    2. Thank them and take the paperwork
    3. Go to the Tesla store where your 3 is waiting
    4. Tell them you'd like a valuation for your trade
    5. If the number is higher than the CarMax appraisal, go with it and don't mention the CarMax appraisal.
    6. If the number is lower, bust out the CarMax appraisal and have them match
    7. Boring paperwork.
    8. Leave the Tesla store in my Model 3.
    As far as I can tell from S/X owner stories they have had no trouble matching a CarMax appraisal, and in a couple instances the Tesla store came in higher. Of course it will be lower than a private sale, but in my case not worth it to have weird people driving my car, trips to the auto title place to get the paperwork straightened out, then arranging a chain reaction of 50-80 mile rides from friends/family to get me to the Tesla store on delivery day.

    Let me know any other way this could go down, too.
     
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  2. SCE to AUX

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    This seems like a pretty good approach. I agree about the hassle of trading, although I'm still not decided if I'll trade anything yet.
     
  3. SoFlaModel3

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    A few thoughts....

    Your paperwork should actually be done before you get it making this the easiest car transaction ever.

    They can appraise the car before delivery day. For my parent’s S they didn’t want to do that. Up front they just said go to CarMax and bring the papers to us.

    My plan — go to CarMax earlier in the week and see where I stand. Give Tesla the numbers, secure my financing, show up and take car!!
     
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  4. Rich M

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    A very good point I'll keep in mind - that some Tesla centers won't appraise at all.

    In my case the Tesla service center/store is 50+ miles from home and CarMax is about the same. Going a day early, taking two days off and totaling 200+ miles is out of the question, which means both will need to be done day-of so the paperwork will need to be redone after I arrive at Tesla either way.
    I assume I'll get a call from the local Tesla store when the 3 arrives so I can ask them then if they appraise or not.
     
  5. SoFlaModel3

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    Ahhh yes I made the (poor) assumption of close proximity. I am fortunate that my delivery location is about 1 mile from my office.

    I am curious about the trade ins as they’ve never had this kind of volume before.
     
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  6. smak

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    #6 smak, Oct 13, 2017
    Last edited: Oct 13, 2017
    Well. This is fortunate. :D

    [​IMG]
     

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  7. dc81

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    Tesla will price match offers up to 14 days and 500 miles of delivery. You can get your value from Carmax or Vroom.com. Tesla can also appraise your car at a service center or online via pictures. I traded in a 2014 prius a few months ago and the best offer was from Tesla via pictures. The price spread between the offers was <5%.

    Also, you will want to have this and all of the financing figured out at least a week before so you can just show up and not wait on paperwork like a traditional dealership. Ideally, you show up, sign, get a walk through, inspect, and drive away.
     
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  8. GTV6

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    I have a 2015 TDI which I plan to trade in at Tesla. VW will pay @$21000 which will leave me $7000 because I'm ahead on payments (on paper) with my loan with VW credit. My local Tesla guy (who called to check in with me yesterday) told me they will accept any registered vehicle and he didn't see why they wouldn't take it.
    I'll have them appraise it shortly before delivery and assuming his figure is correct, it will save us lot's of driving (to return the VW and to pick up the TM3) as well as over $1K in sales tax. It will of course require me to come up with cash to pay off VW so I can have the cleared title for Tesla ( I assume). It's possible they may just pay off the loan for me as part Of the settlement though I wonder where that leaves me sales-tax wise. I never lease because we tend to use primarily one car and put 30K miles annually.
     
  9. JWardell

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    @GTV6 you raise a great point that I often forget, here in MA the trade in value saves you a ton in sales tax.
    Maybe I will hang on to my car till delivery.
     
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  10. SoFlaModel3

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    You really have to explore all paths and you ultimately have a short window if you don’t want your Model 3 to sit.

    It’s important to know your trade in situation to finalize auto loan details especially if you’re going third party for financing.

    If everything is close I would love to give Tesla the car and get financing through them. If not, I’ll do it in pieces, but it has to be worth my while.
     
  11. TSLAholic

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    I'm glad I came across this post as I just finished running the delivery day scenario in my head the other day.
    My closest service center (unless a closer express pick up location happens to open between now and delivery day) is 70 miles from home, with the closest CarMax at about halfway point on the way to the Tesla service center.
    The plan was to confirm the new car's condition as acceptable (ready to take home - nothing needs touched up) at the service center first, and then head to CarMax to accept whatever they would offer on the spot. I would then need to hitch a ride back to the service center to finalize the down payment (part of which would be the CarMax check).
    My day would be a ton simpler (not to mention being able to get everything accomplished by myself) if I could hit up CarMax on the way to the service center and show up with an offer and leave my trade in with Tesla.
     
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  12. SoFlaModel3

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    CarMax offers are good for more than just that day. You could go a few days before or the day before to get the quote.

    If Tesla matches you’ve saved the inconvenience of needing a ride and you’ve also potentially picked up tax savings on the trade in.
     
  13. TSLAholic

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    I wasn't even considering any possible tax savings on the trade. Thanks! But either way, CarMax is a good hour away from my house, with the SC being another 20 minutes further down the road, so a separate trip down to CarMax would likely not be a viable option.
    I'm not too worried just yet, since so much could change throughout the year (I'm in the July-September delivery window).
     
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  14. FunkyJunk

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    FWIW Tesla offered me $4k more for my trade in than Carmax did. Carmax’s offer was laughably low.
     
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  15. smak

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    Do people really hide their car max quote, and if Tesla is less say BOOM I have this quote.
     
  16. SoFlaModel3

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    No reason to be dishonest, you have 2 plays here.

    1) Tesla wants nothing to do with the trade in so they literally tell you to get a CarMax quote and they match it because all they’re going to do is drive it over to CarMax for you in the end and not get burned.

    2) They appraise your car and make an offer. Then you go to CarMax for a competing offer and pick your best one. If Tesla is higher, great. If Tesla is lower still great because they’ll likely match CarMax in the end.
     
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  17. GTV6

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    VW will give me $28,374 anytime before December '18, less maybe $500 for excess mileage (I'll have about 60K miles in 30 months). The car has great paint with a protectant, but was rear-ended. I didn't repair the damage given that I thought at the time the car was to be recycled. No reason to waste resources. I'm not so certain of that now but I know VW will give me the same amount as long as the car is running.
    I'm going to see what Tesla will give me and get back to you all. I must say that not being obsessive about upkeep as I have always been is very relaxing. Even hit the back of my car with the front bucket on my tractor the other day and didn't blink. Maybe my reflexes are just gone. :)
     
  18. Rich M

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    Ohh yes indeed. If your local Tesla store does appraisals, and you show them the CarMax quote first, there's zero chance they'd go higher than that.
     
  19. Ip Man

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    donate your car and get pure tax write off for it.
     
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  20. Jasonh4451

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    Did that on my last car but the AMT took away the value of the deduction for that year. Still felt good though since I donated to the local Public Broadcasting Station.
     
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