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 competitors’ vehicles.
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Let’s try to understand How the 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 with 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.”
The Tesla Trade-In Experience: Advantages and Disadvantages
When it comes to Trade-In, Tesla is not immune to the same trade-in restrictions that other automobile businesses face. We collected as much information as we could on Tesla Trade-In incentives in order to narrow down their advantages and disadvantages of them.
Advantages of Tesla Trade-In
- Tesla frequently offers a no-hassle, final trade-in quote for non-Tesla cars and ICE vehicles that are comparable to other online dealerships such as Carmax, Carvana, or Vroom.
- Negative equity or remaining loan payments on your current vehicle are taken into account by Tesla when determining the purchase price.
- In fact, in Tesla’s trade-in procedure, there are only a few actions to take. It’s very easy. Tesla makes the process simple and unobtrusive by providing straightforward instructions.
- In some jurisdictions, the state tax system offers a discount to customers who pay sales tax on the total value of their purchases after the trade-in value is taken into account.
Disadvantages of Tesla Trade-Ins
- Tesla’s no-hassle policy eliminates the option of asking for a better bargain; it’s a take-it-or-leave-it offer.
- Delays in delivery may result in the loss of your trade-in value. While Tesla’s delivery times are becoming more consistent, they are occasionally delayed beyond the expiration date of the trade-in deal. There are alternatives to getting maximum value for your Tesla that doesn’t depend on whether or not your rate is locked in (we’ll get to that later).
- Tesla claims that any aftermarket modifications to the vehicle being considered for trade (whether from Tesla or another manufacturer) reduce the amount of value owed by Tesla.
- For the greatest trade-in value, your automobile should be as close to factory stock condition as possible. If your car has extensive or difficult aftermarket modifications, it’s very likely to hinder Tesla and most fast quote dealerships’ offers.
- Tesla will not provide a trade-in value until you have bought from their pre-order or New/Used Inventory.
- Tesla is no longer offering timeframes without a purchase because of current market volatility and long delivery times. This timeline restriction makes price comparison difficult.
This is a very important consideration when you are making the decision to trade in with Tesla. As you can see, there are both advantages and disadvantages to trading in your car with Tesla. Be sure to weigh all of your options before making a decision.
Congratulations on your Tesla purchase.
