If you are interested in Tesla and their Trade-In and would love to trade in your old car to get a new car, then this article contains verified and updated information on everything you need to know about Tesla’s trade-in and the value they give to you.
Tesla accepts cars, trucks, vans and SUVs for trade-in towards the purchase of a new or used Tesla. You can use the Tesla trade-in calculator to obtain a trade-in value for your current vehicle. Prior to delivery, you will be asked to submit photos and additional trade-in details to your Tesla Account. You’ll hand off your current car during when your new Tesla is delivered.
To get a trade-in value before ordering your new or used Tesla, go to the Tesla trade-in calculator to submit your current vehicle information. After you place an order on a new or used Tesla, you may submit trade-in details in your Tesla Account.
How does Tesla determine the price of my vehicle?
All Tesla trade values are generated out of a standard calculation based on the vehicle configuration, history, mileage and age. The resulting value is based on market data and internal Tesla product knowledge. Non-Tesla trade-in values are provided based on market data utilizing industry-standard tools and resources (pending vehicle history verification).
Can I trade in my vehicle even though I am still making payments?
Yes. You can trade in your vehicle if you are still making finance payments. Tesla will calculate and compare the payoff amount, applicable early termination penalty and any equity (positive or negative) that will be added to your Motor Vehicle Purchase Agreement. You will not need to pay off your lease or loan in full prior to trading in your current vehicle. There may be restrictions on accepted leased trade-ins depending on the lessor.
Can I trade in more than one vehicle towards my new Tesla purchase?
Tesla cannot accept more than one trade-in vehicle towards your new or used vehicle purchase. You can apply the equity of one trade-in towards the purchase contract.
Can I apply the value of my trade-in vehicle to the total purchase of my Tesla?
You can apply any applicable positive equity towards the purchase of your new or used Tesla. If you have negative equity, it must be paid either at delivery or rolled into your purchase agreement (pending credit approval).
How long are trade-in values valid?
Pre-order estimates requested through the Tesla trade-in calculator on or before August 13, 2020 can be applied to an order within 30 days from the date you received the estimate. Estimates requested after August 13, 2020 can be applied to an order within 7 days from the date you receive the estimate.
Final Offers are valid for 30 days or 1,000 additional miles once provided by Tesla.
Does Tesla accept salvaged title or non-drivable vehicles?
No. All trade-ins are expected to be in drivable condition, and values are subject to change if the vehicle has any major mechanical or cosmetic concerns. Vehicles with a salvage, rebuilt or flood title brand will not be accepted, odometer discrepancies and lemon brands (manufacturer buyback) are subject to review and may not be accepted.
Will Tesla accept a trade-in without a vehicle title?
No. Vehicles must be properly titled in the US in order to be eligible for trade-in. You must have a physical title in hand for the car you wish to trade in if you own the vehicle outright, or if you are making finance payments in KY, MD, MI, MN, MO, MT, NY, OK or WY.
When can a vehicle be traded in?
All trade-ins must be dropped-off at your scheduled delivery appointment. Tesla cannot accept trade-ins prior to or post-delivery.
What happens to the personal data stored on the vehicle?
Before trading in your vehicle, Tesla requires the vehicle owner to wipe their data and restore it to factory settings. This ensures that all your personal information is completely removed from your vehicle before you trade it in.
Please refer to your vehicles Owner’s Manual for information on how to remove your data. If you are trading in a Tesla, tap ‘Controls’ > ‘Service’ > ‘Factory Reset’ to erase and reset the vehicle.
How do aftermarket vehicle modifications affect trade-in valuations?
Aftermarket vehicle modifications typically have a negative effect on trade-in valuations. The car you wish to trade in should ideally be in ‘stock’ or original state.
How do I request a trade-in quote?
Tesla makes trading in your car simple and convenient. Log into your Tesla Account and follow the steps in the Trade-In section. You will then be prompted to complete a self-inspection of your trade in car. You will receive a trade-in offer within 48 hours, via email.
Make sure to take the estimated delivery timeframe of your new Tesla into consideration, as trade-in quotes and offers are only valid for a limited time and distance driven.
How do I accept my final offer?
Accept your trade-in offer in your Tesla Account by uploading the required documentation and clicking the accept button.
How is the trade-in value determined?
All trade-in values are evaluated based on the following:
Our remarketing team evaluates the above criteria and provides the highest, fair market value for your trade-in, subject to our offer terms and conditions.
Tesla believes in a fair pricing and in treating all customers alike. As part of this, our trade-in prices are non-negotiable.
How long is the trade-in offer valid?
Trade-in offers will be valid for 60 days.
Can I request a trade-in quote before I place my new order?
Yes, you can request a trade-in quote before you place your new order by creating a Tesla Account and visiting the Trade-In page. We advise you to place your new order within 7 days of receiving your trade-in quote, as we may not be able to guarantee trade-in value. Tesla will add your trade-in request to your delivery as soon as you place your new order.
If you cancel or modify your Tesla order, we cannot guarantee the trade-in value. You will need to request a new trade-in quote for your modified or new order. You can request a trade-in quote up to 48 hours before your scheduled delivery day.
Currently, it is possible to trade in only one car per order. If you have multiple orders, you can trade in one car per order.
Can I trade in my leased or financed car?
It is possible to trade in your leased or financed car if your lessor or bank allows you to. Tesla will pay off the balance of your current car after the delivery of your Tesla. Prior to delivery, you will need to provide a valid settlement letter from your lessor or bank.
Can Tesla deduct the trade-in value on my final invoice?
Tesla can deduct the trade-in value from your final invoice if:
Alternatively, we can cash back the value of your trade-in car after the delivery of your new Tesla.
What happens if the trade-in value is higher than the price of my new Tesla?
If the trade-in value is higher than the price of your new Tesla order, Tesla will refund the difference to the bank details you provide, after your delivery. For Tesla to process the wire transfer, provide your Tesla Advisor with the following information: account holder name, IBAN and BIC code. Once Tesla receives the trade in car, the payment process time can take up to two weeks.
What happens if the trade-in value is lower than the price of my new Tesla?
If the trade in value is lower than the price of your new Tesla order, you will need to pay the difference between your trade-in offer and the price of your Tesla. Prior to your delivery appointment, provide your Tesla Advisor a proof of payment of total amount due.
Your proof of payment should indicate your Confirmation Number (RNXXXXXXXXX). If the trade-in car is leased or financed, you will need to pay the difference between your trade-in offer and the outstanding balance to your lessor or bank. Prior to your delivery appointment, provide your Tesla Advisor a proof of payment of balance due made to the lessor or bank.
Once Tesla receives the trade-in car and the proof of payment, the settlement to the lessor or bank can take up to two weeks.
Can I trade-in a car that is not registered under my name?
No, you cannot trade-in a car that is not registered under your name. The owner and name registered to the trade-in car must be the same as the name on the new Tesla car. This applies to both private individual and company orders.
When and where do I trade in my car to Tesla?
Drive your trade-in car to the Tesla location of your delivery appointment. Tesla will receive your trade-in car during your delivery appointment. Tesla will not accept any trade in car prior or after your delivery appointment.
Will Tesla handle deregistration of my trade-in car?
Yes, Tesla will handle de-registration of your trade-in car. Once your trade-in paperwork has been signed and the trade-in car received by Tesla, it will typically take two business days for the de-registration process to take place. Note that Tesla will need all ownership documents before proceeding with de-registration.
What should I bring to my delivery appointment?
Visit our Delivery Day FAQs FAQs to review which documents you need to bring to your delivery appointment for your trade-in car.