Do Teslas Have a Trade-in Value?

Tesla trade-in value: If you are interested in trading in your old car to get a new Tesla, this guide provides verified and updated information on what you need.

It includes a detailed explanation of how the Tesla trade-in value works, a better way to sell your Tesla, how the values are calculated, and the vehicles being appraised.

How Does the Tesla Trade-in Value Process Work?

Tesla encourages a trade-in program where any cars, trucks, vans, and even SUVs will be accepted in exchange for either a new or used Tesla.

You can get an idea of the price of your trade-in using the Tesla trade-in calculator.

Here are the steps;

1. Get an Estimate: It is possible to get your current vehicle’s VIN, odometer mileage, zip code, and photos reviewed using the Tesla app and provide them while ordering your new Tesla.

2. Receive Final Offer: Then, once you are through with placing your order, the final trade-in offer will be shown to you after checking and evaluating the product physically.

3. Accept Offer: After that, you will have to upload the registration card photo and the vehicle title to be confirmed which is the next step you will take.

4. Confirmation and Approval: Tesla will approve and sign a certificate of registration and title. Same as that, after getting your request approved, you shall then choose the day for delivery.

5. Apply Positive Equity: You can utilize any positive equity you might possess on your old car in the purchase of a Tesla either new or used.

6. Delivery Appointment: On your appointed visit for pick up, you will be handing over the title, lien release, and trade-in vehicle if applicable.

7. State Notification: You should release the car’s trade-in to the state and after the sale date you will not be held responsible for the car.

Our expert appraisal of Tesla vehicles is based on similar models in the market with our tools and the history of the vehicle is checked.

When it comes to the Tesla cars, the dealership’s trade-in value is estimated after considering factors such as model configurations, history, miles, and so on.

What’s a Better Low-Hassle Way to Sell Your Tesla?

If you are someone who cares nothing about costs and is more about comfort, then Tesla’s offer could work for you.

But do take note that the price that Tesla is offering is mostly lower than what you could find from a knowledgeable electric vehicle (EV) dealer or from a private sale.

In addition, it is not likely that the sales tax benefit you may receive from trading in your Tesla will be enough to offset that cost difference.

But here’s some good news: No need to choose between the attractiveness of a deal and convenience. We’ve got it covered, which is why we launched our EV Cash Offer Program.

We’ve teamed up with dealerships that are experts in EVs, and they’re willing to submit a fair quote for your Tesla, based on the same amount of information Tesla asks for.

The difference is that Tesla tends to view vehicles as an open-source project, but our dealers know that your car’s software and any modifications that you have made are extremely valuable.

Just like the trade-in estimate of Tesla, the cash offer from our used car dealership isn’t fixed and can be altered.

There isn’t any compulsion for you to accept it, but if you find yourself agreeing with the offer, it is real and you can take things further.

Moreover, the inspection process is a simple procedure. In fact, if we can complete the inspection virtually, you can do the car inspection from your home.

How Tesla Values are Calculated Using Edmunds True Market Value

Here’s an easy breakdown of how Edmund True Market Value (TMV) works for your Tesla:

1. Data Collection: We draw data from various sources, such as sales departments, vehicle depreciation rates, and customer surveys.

2. Assessment Factors: Our evaluation analyzes different elements, including the year, model, trim, mileage, depreciation, and special features of your Tesla.

3. TMV Guide: Edmunds’s website, the TMV, is a guide that gives you the average price of a new or used car in your locality.

4. Informed Negotiations: Equipped with TMV, you can go into the talks ready to ask for a price you want if you are either buying or selling a vehicle.

5. Selling Guidance: If you are going to sell your Tesla car on Edmunds, you should make sure to follow the TMV estimate on how much you can get for it.

6. Data Sources: Our cost is determined by data input from multiple sources, including actual prices from dealerships, where CarMax is one of them.

7. Independence: Edmunds has been owned by CarMax, Inc. since June 2021, being the owner does not mean that CarMax’s control on how Edmunds determines TMV values will be influenced.

We act as an independent valuer and conduct valuations independently.

Which Tesla Vehicles Can be Appraised?

In reality, the list of serviced Tesla models is almost complete and the series dates back to 1990. On the contrary, if you love classics, that is, the old models, this will not be beneficial for you.

To perform this task, you have to refer to Hagerty’s guide which is a classical car guide. A guide that shows the fair market value of the vehicle.

If you evaluate your Tesla’s worth with our appraiser, you will get complete data that will help you to make a decision if you will choose to sell or trade in the car.

You’ll see three or four values for your Tesla: buy from a private party, trade-in, dealer retail, and certified used.

1. Trade-in Value

This is the whole of what dealerships will most likely present you with if you give up your Tesla for another car. This is usually a sign of a tough and turbulent period of emotional growth.

2. Private Party Value

For example, if you were selling a Tesla, the price you are going to list is the one that the future buyer would be looking forward to.

In most cases, the dealer will offer more than the trade-in value. Also, you will have to do more work since you are selling the car on your own.

3. Dealer Retail Value

his figure actually represents the average amount of money that an owner spends at the dealership when they buy a used Tesla from them.

4. Certified Used Value (If Applicable)

When you are going to buy a used Tesla, you might as well get a cost for certified pre-owned cars.

If you want to sell your Tesla model, the first thing you need to do is figure out what the value of your car is – this will help you define the best way of selling your car.

Recall that many factors such as the year, model, and condition of your Tesla car are the components that may influence the appraisal.

Therefore, trial and error with various tools and techniques are a necessity to get a balanced appraisal.