One of the most surprising things about Teslas for most people is their resale trade-in value.
Perhaps it is owing to their scarcity, after all, you have to wait months and sometimes a year to get one, or maybe it is just their longevity? Either way, you often get significantly more for your Tesla than you would ever get for an equivalent gas-powered car.
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Does Tesla Accept Trade Ins?
Yes, Tesla definitely does accept trade-ins. They have a very large selection of second-hand Teslas and usually give you a good offer too.
In fact, one of the best ways to sell your Tesla is through the Tesla Trade-in Program. Why not sell it back to Tesla! Then, you can upgrade to a newer or better model! I see people doing it on Twitter all the time.
Trade-In Valuations
Tesla does their valuations via your Tesla Account. So, if you haven’t set one up at this stage, you will have to do so.
You have to submit all of the required details of the trade-in vehicle at the point where your new Tesla purchase is almost ready (more on that below). This will include all of the usual suspects like your details, model, year, mileage, and the VIN. But, they are also looking for any damage or issues with the car, as well as photos so they can see what condition it is in.
All of these things affect the trade-in value, so be sure to enter them as accurately as possible.
Tesla Models
Tesla knows their electric vehicles and also has the best customer base to sell them to. So, in the majority of cases, a trade-in with Tesla makes the most sense. It is also the simplest process, as you don’t have to take it to get it evaluated.
Many people have gotten some great deals with the trade value, especially if they originally purchased with the $7.5k tax incentive. Either way, a direct trade-in is often the best way to go. Just keep in mind that there is no negotiation.
Tesla has new or used Tesla comparison buying tools like this one, so people have the best choice from them for a new Tesla model or trade-ins.
Non-Teslas
Surprisingly Tesla accept non-Tesla vehicles. Tesla apparently uses auction houses and you may not get as good a price as you could privately or on other marketplaces. So, it is worth shopping around to be sure you have the best deal. Try such sites as CarMax, Carvana, AutoNation, or Vroom. These are the most popular alternatives and often have competitive prices.
Trade-In Process
The trade-in process typically starts as soon as your vehicle is nearing production. A Tesla rep will contact you as this date nears and start collecting the information they need to evaluate your trade-in.
Once they have done their evaluation, they will contact you directly with Tesla’s trade-in offer which you can then choose to accept or shop around. You are not obligated to trade in the vehicle at this stage.
If you agree to the valuation and sign the paperwork then everything is set and you will be asked to deliver the trade-in vehicle when you go to pick yours up.
