Any news on trade in program?

[EricM]

When I confirmed I asked if they had a trade in program like Tesla does and was told “not yet”. Has anyone heard anything about where they are with this?

 

[DBV]

Tesla’s is just for Tesla trade in‘s though - right?

 

[DeaneG]

Tesla’s is just for Tesla trade in‘s though - right?

Correct. I sold my Model 3 through Shift instead (tried Shift, Carvana, Carmax, Vroom, GiveMeTheVin, etc).

 

[LCIDdreams]

Tesla’s is just for Tesla trade in‘s though - right?

I’m pretty sure you can trade in any car in at Tesla. Whether you get a decent price is another question- I assume selling to Carvana, Carmax, Zoom, or just a dealer would net more as I’m pretty sure Tesla just wholesales trade-ins to them (plus auction houses) once they get them.

Once Lucid start trade-ins I assume it would be similar.

 

[Steveinarizona]

In a lot of states the greatest value of a trade-in is that it reduces the price of the car subject to sales tax. So comparing a trade-in to a separate sale should also factor in the sales tax if in a state where a trade-in reduces the taxable base.

 

[MoniputerLM]

I’m pretty sure you can trade in any car in at Tesla. Whether you get a decent price is another question- I assume selling to Carvana, Carmax, Zoom, or just a dealer would net more as I’m pretty sure Tesla just wholesales trade-ins to them (plus auction houses) once they get them.

Once Lucid start trade-ins I assume it would be similar.

My son got the best price for his Model 3 from Tesla.

 

[EricM]

Tesla takes any car in trade. I think their trade in program is actually run by Manheim (that’s what I saw on the paper work when trading in a non-Tesla vehicle for a new Tesla)

 

[DeaneG]

I should have said that Tesla will only buy used Teslas if they are a trade-in on a new Tesla.

 

[CraZ8]

The Tesla trade in program was a royal screwing. They know that have you by the tax credit and also convenience so they put the screws to you. I traded my first Tesla s for my second and the offered me about 7 k under recommended DEALER price. They gave me I think a 3 week window to make a decision on a car but I was looking at demos as they came with free auto pilot AND supercharging. I couldn’t find a color combo that I liked until 4 1/2 weeks after the initial offer. I expected maybe a few hundred lower quote but Tesla knocked off another $2100 from their last quote. I took it as all I had on the private side were tire kickers and the price of the demo was good enough to to take the extra kick in the teeth but I swore right then I would never trade another car into Tesla. Going on the Tesla forum I found I was hardly the only one this happened too. I was going to buy a plaid but when I saw a preproduction lucid I never looked back.

 

[LCIDdreams]

I should have said that Tesla will only buy used Teslas if they are a trade-in on a new Tesla.

Yes - unlike dealerships they have zero interest in buying used cars just for the purpose of selling.

 

[LCIDdreams]

In a lot of states the greatest value of a trade-in is that it reduces the price of the car subject to sales tax. So comparing a trade-in to a separate sale should also factor in the sales tax if in a state where a trade-in reduces the taxable base.

Yes true (unfortunately I’ve never lived in a state like that).

 

[Miami_Lucid_Man]

Correct. I sold my Model 3 through Shift instead (tried Shift, Carvana, Carmax, Vroom, GiveMeTheVin, etc).

I assume you had purchased your vehicle? I have leased M3P and essentially my only escape clause is to give it back to Tesla early, although I wouldn't owe anything given the equity. They would just zero out.

 

[Tesla2.0]

Will trade program ever gonna happen? It would boost reservation for sure as people don’t mind trade in wholesale but save on purchase sales tax offset.

 

[Lucken]

I’d like to know too, it would make my life easier. Any rum on this happening?