How do you trade in Tesla?
Tesla accepts trade-ins, as you may be aware.
Trading in a vehicle to Tesla looks like a viable option, whether you're researching used Tesla prices or hoping to make your first Tesla purchase.
Do you want to know more about Tesla's trade-in plan?
The trade-in requirements for Tesla, the advantages and disadvantages of returning a used Tesla vehicle to Tesla, as well as alternative strategies to maximize the value of your Tesla will all be covered in this article.
We've also covered what to look for when buying a used Tesla here and here.
What are the Trade-in Requirements for Tesla?
Before delving into the criteria, it's important to understand that Tesla has started to completely block casual access to the trade-in calculator on their website when pre-order shipping date surpasses the time limit of the offer (currently thirty days).
If you're buying a pre-order car from the company or a car from their current Used or New Inventory, near the time of your actual delivery an Advisor from the company will get in touch with you if you want to get a trade-in for your purchase.
The trade-in procedure utilized by Tesla is as simple as the process employed by the majority of online dealerships when the digital calculator is operational. The website will give you an estimate once you submit only a few details about your car.
Tesla bases its quote on standard valuation estimates. This is sometimes acquired via auctions that let third parties place bids before the trade-in arrangement is sealed.
Used Tesla vehicles are valued internally by Tesla instead of using external calculators, taking configuration and other model-specific factors into account.
You can upload several images describing your vehicle's condition and provide ownership documentation if you think Tesla's assessment is reasonable. When your product is ready for delivery, Tesla will provide you a final price, generally within 24 hours, which you can adjust with your order.
When the Tesla purchase is delivered, the trade-in car is collected. At the delivery time, the representative from Tesla signs all of the required papers to initiate the transfer. Tesla's trade-in rates are fixed and cannot be negotiated because the procedure is meant to be simple.
To sum up, the current trade-in procedure is as follows:
- Purchase
- Tesla Advisor Gets in Touch for Trade-In
- Estimate
- Acceptance
- Final Quote
- Trade-In Pickup on Delivery Day
- Credit from Trade-In Applied
What type of vehicle can I trade-in to Tesla?
Tesla accepts automobiles, pickup trucks, vans, and SUVs. It's important to remember that they only accept one car in exchange for an inventory buy.
Motorcycles and other vehicles that don't fit the basic description of a pickup truck, car, SUV, or van. won't be accepted by Tesla.
Mopeds, four-wheelers, and motorized cars are included in this (like RVs). Additionally, they won't accept vehicles that have ever moved hazardous materials or vans used to transport more than eight people for money.
If the leasing business permits it, Tesla also takes into account the lease vehicle value for a trade. This could be useful if you put your lease involved a huge down payment and wish to trade it in so you can recover some of it.
It's important to verify your lender's restrictions before beginning the trade-in procedure because many lessors no longer let a third party, like Tesla, execute a purchase of leased automobiles.
What Requirements Must a Vehicle Meet to Qualify as a Tesla Trade-in?
According to Tesla, automobiles that are being evaluated for trade should be operable.
Tesla does not accept vehicles with "Lemon Buyback" titles (a car repurchased by the company due to warranty issues) or a discrepancy in odometer reading (Not Actual Mileage or NAM title) anymore.
Even if the vehicles are drivable, flood and salvage-designated automobiles are also not eligible for Tesla's trade-in scheme.
How long is the trade-in deal from Tesla valid?
The final quote (which you get only after you have made a purchase from Tesla's Pre-Order, Used, or New Inventory) is valid within an odometer reading of 1,000 miles from when you provided it for the trade-in and for thirty days.
The final offer from Tesla must be accepted within the required timeframe of 30 days and 1,000 miles, but if the shipment is delayed due to circumstances beyond Tesla's control, the final quote may still be recognized.
However, be advised that if you exceed the 1,000-mile/30-day limit before delivery or the trade automobile changes in condition (due to a breakdown or traffic incident, for instance), the value of your trade car may alter.
Trading in a Non-Tesla Car for a Tesla
You may be wondering, can I trade in a non-Tesla vehicle for a Tesla? What about gas or non-electric automobiles, also known as ICEs (internal combustion engines) in the EV community?
They do accept them. In fact, owners of ICE cars who wish to transition to an electric vehicle have offered more than 90 percent of the automobiles Tesla has taken in trade.
Tesla does take vehicles (vans, trucks, SUVs, and cars) from other automakers in exchange for trade-in credit, despite some restrictions on what it will accept as a trade-in option.
You can use this credit to purchase a brand new Tesla or get something from their used inventory.
Trading Tesla for a Tesla
You may be wondering if it is possible to exchange a used Tesla vehicle for a brand-new one.
Absolutely!
Tesla accepts its own cars as trade-ins if you purchase a car from their used or new inventory, whether you want a Model Y in exchange for a Model 3 or any other combination in between.
Your model, make, VIN, mileage, and some photographs are used to determine the trade-in value of your Tesla. To use the photo area of their trade-in calculator, be ready with a copy of loan agreement or lease or your title.
We should note that Tesla determines the trade-in value of your Tesla using its own internal calculations. Although the computation is practical, it doesn't always account for your Tesla's current market worth.
Features like Free Unlimited Supercharging, Full Self-Driving, or Enhanced Autopilot don't increase their worth.
Currently, used Teslas are keeping their value very well, and there is a healthy market for them.
Are Used Teslas Bought by Tesla?
Are used Teslas worth it?
The short answer is no if you want to sell a used Tesla vehicle. Tesla will not buy it unless it is a trade.
Although the company's trade-in policy is fair, they will not want to pay you cash for your automobile as it isn't a dealership.
You'll need to sell your old Tesla somewhere else if you're not seeking to trade it in for another car from Tesla's used or new inventory.
A good thing is that you will not find it difficult— you can list your car online.
A lot of websites allow you to do this without charging any fee. You may also get in touch with dealerships that deal with Teslas and would be happy to buy your Tesla vehicle from you.
