If you are planning to purchase a new Tesla and wondering “Does Tesla take trade ins” we got you covered. We will go through the entire process from calculating your trade value to what to do after you decided to trade-in.
Tesla is a well-known electric car company. The company was founded in 2003 and has since grown to be one of the leading companies in the industry, with their most recent model, the Tesla car, being named Motor Trend’s Car of Year for 2017. In light of Tesla’s success as an automotive brand and its focus on sustainability through clean energy production, it may not come as a surprise that Tesla does indeed take trade-ins from competitor’s vehicles.
Let’s try to understand How Tesla car trade-in works if you are trading in a Tesla?
Tesla is not just a car company. Tesla sells cars, t-shirts, and other gear online for delivery to your home or office with free shipping on all orders over $35. But they also offer a trade-in program that allows owners of any make and model (newer than 2014) to sell their old cars in exchange for store credit at the time of purchase.
This can be applied either as an amount off the total price or as part of the down payment. In some cases, you may get more from trading it in depending on how much money you put down too. You’ll need to have proof of ownership like registration documents when buying a new Tesla Model S or X vehicle; this means no one else has accessed your account information without your permission. For Tesla Roadster, you’ll need to complete the application form and provide proof of ownership before purchase.
Does Tesla take trade ins of a different car company?
Yes, of course. Tesla will accept cars, trucks, SUVs, and vans for trade-in. Tesla accepts both gas-powered vehicles and electric ones. And, one important point to note. You should be the Title owner to start the Trade-in process.
How to calculate your trade-in value?
Tesla made it simple for you to calculate the trade-in value. You simply go to the Tesla trade-in calculator and enter your VIN number. Tesla will give you an estimate based on multiple factors. Remember, your Trade-in value is valid for 30 days. After 30 days, Tesla needs to recalculate your car value and bring you a new estimate. (This will mostly be less compared to the previous one since your car is aging.)
Here is how Tesla calculates your used car price, “The trade-in values for our cars are calculated using a calculation based on the vehicle configuration, history, mileage, and age. This value is set using market data from inside Tesla as well as industry-standard tools. Trade-in values for all other cars are evaluated by comparing them against the average sale price of similar models in an area over a period of time.”
Even if you have a loan on your current car, Tesla will still accept it as long as you can cover the loan balance yourself. You can also apply the trade-in value to the car purchase and Tesla will take care of the process.
After you decided to Trade in a went through all the processes suggested by Tesla, you need to clear all your personal data in the car. Tesla says, “Before trading in your vehicle, Tesla requires the car owner to remove personal information first. Make sure you refer to your car’s owner’s manual for instructions and clearly mark on the sticker that it is a trade-in to be donated when received by Tesla. When receiving a Tesla as a trade-in, make sure you wipe all connections from the previous car prior to handing over keys.”
Congratulations on your Tesla purchase.