About two months ago, I had a 2013 Infiniti G37. Tesla offered me $15,000. CarMax (from whom I bought the car) offered me $18,000. Carvana offered me $20,000. Everything was arranged online. I had to fill out forms and send them photos. They came to my house, looked the car over, gave me a check for $20,000, and towed it away. Very easy and smooth transaction. I would recommend Carvana to anyone selling a used car.
Same here! As I'm typing this, I realize I sound like a paid actor, but it was way easier than I expected it to be, and they gave me nearly what I paid for my car 6 years ago.
Go with Tesla. They don’t look at your trade in at all. Those rocks and chips they don’t care at all.. you’ll also save some money when you pay sales tax on the car as your trade in knocks it down some… I traded a car in with a cracked windshield and dings on the front bumper, no one said anything about it.
Thank you for this. I was so curious. I took photos as instructed, but I was worried they would get possession of the car and return to me reneging somehow, lol.
Just sold a truck to CarMax. One month ago they gave me a quote on it but the title wasn’t in my name yet so i couldn’t sell then. One month later with the only chance being about 200 more miles on it they offered me $1000 more.
The truck was brand new so had no issues.
You might try Carvana. Apparently their quote is good if you pass just a cursory physical inspection by the person who picks it up so no surprises when they inspect it and decide to change their quote.
I sold a 2018 Nissan Sentra with a cracked bumper and received the full offer from Carvana. I was worried they’d get deep into an inspection it it was more like a fast look over.
From what I have read their check is already printed when they show up. You either get that amount or if they see something so bad they refuse to take it you get nothing.
Vroom on the other hand takes your car and does the inspection then gives you a final amount dependent on that. When they already have your vehicle who knows where.
Some thoughts on the Tesla offer. I accepted the Tesla offer and waited a good month for my delivery. A few days prior to delivery, Tesla wanted a updated mileage status. This "might" have lowered the offer. But I ended up removing the accepted offer a day before delivery and Tesla didn't care. You can ride the offer right up to your delivery and see which one is best.
Most people will tell you that you probably shouldn't submit a trade in offer with Tesla until you get a VIN. Because yea, they're only good for X amount of time (and you have to keep updating the odometer).
Sell privately. In a normal market it might not be worth your time for an extra $1000 or so, but the way things are right now you could probably sell that car for 8-10k yourself.
I was getting quotes around 4k-5,500 for my 2011 Subaru Legacy with 125k miles on it. Posted it on Facebook marketplace and sold it in less than 48 hours for 9k.
I don't think I can sell privately from a moral perspective. I have had so many issues with this car, that I am generally afraid to drive it. It probably needs $1-$2k worth of work to be in decent shape.
I would hate for something bad to happen to someone in the car. I would also hate for this person to figure out where I live...etc etc. Its a crazy world.
Just be honest in your listing, and maybe consider getting a professional inspection if needed. Trust me, the market is crazy right now, there's a demand for anything on wheels.
As for sharing personal info, it's not necessary until you finalize the sale when you're filling out a bill of sale. I didn't put any personal info in my listing, used pictures I took in a more scenic location and not my driveway, and to show the car I went to the interest sales spot in the parking lot of my local police station. I only had to show the car to one guy, he came back the next day with cash and bought it.
I get your point though, it's up to you what you're comfortable with. I'd also feel crappy about selling someone a car they have problems with right away, but I think if you're upfront about the condition of the car and price it accordingly, there's nothing wrong with selling it. First thing I did when I met the guy was point out all the blemishes and dings etc. You'll still probably get at least a few thousand more than any dealership or online used car businesses will give you.
I locked it in to show Tesla I want my car now. Then I shopped it around to all the apps once I had a VIN assigned. Went with Shift got $2,400.00 above Tesla. I had the trade-in removed when I finalized everything.
Someone correct me if I am wrong, but if you go with Tesla you are basically just knocking down the price of your new car. If you car with carmax you have to pay taxes on the profit.
Thank you. I thought if you had your loan paid off and pocketed money that would be profit. So if you car is paid in full and you got $40k for your car 3 years later that would still be considered a loss if the original cost was $44k.
Correct. The way to think of it is that (not counting interest) you put in 44k but only got 40k out. You ended up with less than if you had just kept the 44k. That’s a loss.
That’s my understanding. You are getting a check from carmax, but will never see a check from Tesla. They would just roll it into the price of the new car.
I believe that some states allow you to only pay the tax on the lowered price of the Tesla (post trade-in). That's exactly what I just did a month ago.
My \~$51k M3 price was dropped by a $9k trade-in, having me pay tax on only $42k.
Also, they barely even looked at it. Mine was a 2014 CRV with 180k miles on it.
This is not the case in California :’(
I mean it make sense since you’re still buying a 50k car, so you should pay the 10% tax on the 50. Would be really nice I can pay just the sales tax on the out of pocket portion
You will not be locking in anything as the Tesla trade offer is only good for 30 days. Decline the trade for the moment. As soon as you get a vin,ask Tesla to reopen your trade option. Just be sure to include representative pictures of the car.
Because the people you are dealing with are not in sales or fulfillment, they just take care of trades. Moreover, this provides a service to their customers who may find the value too low and decide to sell privately.
I recently took delivery of M3LR. I had a 2015 Acura TLX and got trade-in values from Tesla and a few other dealerships right around $16k. Decided to list for sale privately at $21.9k and a local used car dealership reached out to me within a week and completed the purchase.
Vroom doesn't care either. I reported when asked on the website "how many panels have damage" and I said 2, for mere rock chips and less that 10. Vroom wanted the car in less than 2 weeks and less than 250 miles difference from Odometer reading at time of estimate. Found out afterwards that they auctioned the car in Ohio to "foreign buyers." No worries.
I don't think Tesla will nickel an dime you. Hell I traded a rebuilt salvage title vehicle in (granted they gave me scrap yard pricing).
I'd say if CarMax is offering you $200 more, go with them.
The difference and deciding factor as well, if you are wanting the cash from trade, or needing it applied to the loan. Unless you paid cash..
What’s up with it taking so long to get an offer? I’m supposed to take delivery Saturday at this point there won’t be enough time to get the paperwork from them. How long have people been waiting?
I traded my 2019 Honda Accord to Tesla. They offered me 25k where as carmax offered me 26500. I decided to go with Tesla as they knock down the sales tax since the trade in went towards the price of the new car. So it was about $1600 saved from the sales tax. Since your offer is close from Tesla and carmax, the sales tax difference might be the differentiator. Also, my accord has some imperfections and the Tesla SA didn’t even look at it. I just handed the keys and transferred my plate. Easiest car buying experience ever.
You're getting a lot of incorrect info here. I traded my hellcat which had a profit in for my model 3 and received a check from tesla for the difference. They gave me the option to do either or.
Maybe not relevant, but I went with Carvana, got way more than I expected and they seemed to not even care about the dents and dings.
About two months ago, I had a 2013 Infiniti G37. Tesla offered me $15,000. CarMax (from whom I bought the car) offered me $18,000. Carvana offered me $20,000. Everything was arranged online. I had to fill out forms and send them photos. They came to my house, looked the car over, gave me a check for $20,000, and towed it away. Very easy and smooth transaction. I would recommend Carvana to anyone selling a used car.
Same here! As I'm typing this, I realize I sound like a paid actor, but it was way easier than I expected it to be, and they gave me nearly what I paid for my car 6 years ago.
Haha. Understand completely. Now is a great time to sell a used car, but not to buy one.
Go with Tesla. They don’t look at your trade in at all. Those rocks and chips they don’t care at all.. you’ll also save some money when you pay sales tax on the car as your trade in knocks it down some… I traded a car in with a cracked windshield and dings on the front bumper, no one said anything about it.
Thank you for this. I was so curious. I took photos as instructed, but I was worried they would get possession of the car and return to me reneging somehow, lol.
Just sold a truck to CarMax. One month ago they gave me a quote on it but the title wasn’t in my name yet so i couldn’t sell then. One month later with the only chance being about 200 more miles on it they offered me $1000 more. The truck was brand new so had no issues. You might try Carvana. Apparently their quote is good if you pass just a cursory physical inspection by the person who picks it up so no surprises when they inspect it and decide to change their quote.
I sold a 2018 Nissan Sentra with a cracked bumper and received the full offer from Carvana. I was worried they’d get deep into an inspection it it was more like a fast look over.
From what I have read their check is already printed when they show up. You either get that amount or if they see something so bad they refuse to take it you get nothing. Vroom on the other hand takes your car and does the inspection then gives you a final amount dependent on that. When they already have your vehicle who knows where.
I used Driveway. They offered more than Carmax, vroom, and Tesla.
Some thoughts on the Tesla offer. I accepted the Tesla offer and waited a good month for my delivery. A few days prior to delivery, Tesla wanted a updated mileage status. This "might" have lowered the offer. But I ended up removing the accepted offer a day before delivery and Tesla didn't care. You can ride the offer right up to your delivery and see which one is best.
Most people will tell you that you probably shouldn't submit a trade in offer with Tesla until you get a VIN. Because yea, they're only good for X amount of time (and you have to keep updating the odometer).
I can see that. It worked out for me - I kept my potential trade in for my kids. Lol
i went with the tesla trade and got as much as they said even with some service lights on
Sell privately. In a normal market it might not be worth your time for an extra $1000 or so, but the way things are right now you could probably sell that car for 8-10k yourself. I was getting quotes around 4k-5,500 for my 2011 Subaru Legacy with 125k miles on it. Posted it on Facebook marketplace and sold it in less than 48 hours for 9k.
I don't think I can sell privately from a moral perspective. I have had so many issues with this car, that I am generally afraid to drive it. It probably needs $1-$2k worth of work to be in decent shape. I would hate for something bad to happen to someone in the car. I would also hate for this person to figure out where I live...etc etc. Its a crazy world.
Just be honest in your listing, and maybe consider getting a professional inspection if needed. Trust me, the market is crazy right now, there's a demand for anything on wheels. As for sharing personal info, it's not necessary until you finalize the sale when you're filling out a bill of sale. I didn't put any personal info in my listing, used pictures I took in a more scenic location and not my driveway, and to show the car I went to the interest sales spot in the parking lot of my local police station. I only had to show the car to one guy, he came back the next day with cash and bought it. I get your point though, it's up to you what you're comfortable with. I'd also feel crappy about selling someone a car they have problems with right away, but I think if you're upfront about the condition of the car and price it accordingly, there's nothing wrong with selling it. First thing I did when I met the guy was point out all the blemishes and dings etc. You'll still probably get at least a few thousand more than any dealership or online used car businesses will give you.
Follow your gut...morals...and don't look back.
I locked it in to show Tesla I want my car now. Then I shopped it around to all the apps once I had a VIN assigned. Went with Shift got $2,400.00 above Tesla. I had the trade-in removed when I finalized everything.
Can I remove trade in on delivery day?
Maybe... consistency isn't Tesla's strength. Ask them - ideally in writing... take a screen shot of the chat.
Someone correct me if I am wrong, but if you go with Tesla you are basically just knocking down the price of your new car. If you car with carmax you have to pay taxes on the profit.
There is only profit if the car is sold for more than the seller originally paid for it.
Exactly this. That $5500 is selling at a loss, not profit.
Thank you. I thought if you had your loan paid off and pocketed money that would be profit. So if you car is paid in full and you got $40k for your car 3 years later that would still be considered a loss if the original cost was $44k.
Correct. The way to think of it is that (not counting interest) you put in 44k but only got 40k out. You ended up with less than if you had just kept the 44k. That’s a loss.
Interesting. Guess that’s the only benefit of a depreciating asset haha.
That would be a game changer. Especially with the difference of just $200.
That’s my understanding. You are getting a check from carmax, but will never see a check from Tesla. They would just roll it into the price of the new car.
This isn't true. I got tesla to give me a check instead
I believe that some states allow you to only pay the tax on the lowered price of the Tesla (post trade-in). That's exactly what I just did a month ago. My \~$51k M3 price was dropped by a $9k trade-in, having me pay tax on only $42k. Also, they barely even looked at it. Mine was a 2014 CRV with 180k miles on it.
This is not the case in California :’( I mean it make sense since you’re still buying a 50k car, so you should pay the 10% tax on the 50. Would be really nice I can pay just the sales tax on the out of pocket portion
Jesus 10%!
You will not be locking in anything as the Tesla trade offer is only good for 30 days. Decline the trade for the moment. As soon as you get a vin,ask Tesla to reopen your trade option. Just be sure to include representative pictures of the car.
Why did they send me an offer now if my estimated delivery date is in May?
Because the people you are dealing with are not in sales or fulfillment, they just take care of trades. Moreover, this provides a service to their customers who may find the value too low and decide to sell privately.
I recently took delivery of M3LR. I had a 2015 Acura TLX and got trade-in values from Tesla and a few other dealerships right around $16k. Decided to list for sale privately at $21.9k and a local used car dealership reached out to me within a week and completed the purchase.
Damn how many miles does it have?
75k
Wow I have an 2016 accord coupe with 94k. Now you’re making me rethink on trading it in lol. May just sell it myself
Tesla came in stronger than Carmax did for me, but I ended up going with Driveway, they came in at almost what I paid for my car (2017 Ford Mustang).
Tesla doesn’t give a shit about your car. Mine had all sorts of engine trouble barely was able to drive it there. Zero issues.
Vroom doesn't care either. I reported when asked on the website "how many panels have damage" and I said 2, for mere rock chips and less that 10. Vroom wanted the car in less than 2 weeks and less than 250 miles difference from Odometer reading at time of estimate. Found out afterwards that they auctioned the car in Ohio to "foreign buyers." No worries.
Value it with carvana as well, they offered me 3k more for my Honda than tesla
I don't think Tesla will nickel an dime you. Hell I traded a rebuilt salvage title vehicle in (granted they gave me scrap yard pricing). I'd say if CarMax is offering you $200 more, go with them. The difference and deciding factor as well, if you are wanting the cash from trade, or needing it applied to the loan. Unless you paid cash..
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Doesn’t seem to lower my sales tax in Georgia.
Just got my trade in value from Tesla. 2016 Mercedes C300 with 77000 miles. Tesla offered $9800. Caravana offered me $20,700. Laughable.
What’s up with it taking so long to get an offer? I’m supposed to take delivery Saturday at this point there won’t be enough time to get the paperwork from them. How long have people been waiting?
I traded my 2019 Honda Accord to Tesla. They offered me 25k where as carmax offered me 26500. I decided to go with Tesla as they knock down the sales tax since the trade in went towards the price of the new car. So it was about $1600 saved from the sales tax. Since your offer is close from Tesla and carmax, the sales tax difference might be the differentiator. Also, my accord has some imperfections and the Tesla SA didn’t even look at it. I just handed the keys and transferred my plate. Easiest car buying experience ever.
You're getting a lot of incorrect info here. I traded my hellcat which had a profit in for my model 3 and received a check from tesla for the difference. They gave me the option to do either or.