If You Own a Tesla, Sell It Back Immediately
Everyone knows the used car market is in shambles right now, but things are really heating up. The prices of used Tesla vehicles are still rapidly increasing, even higher than the price of a new car. Therefore, if you are on the fence about selling your Tesla…why not see what it is worth? It could be worth more than you paid initially.
If you own a Tesla Model S…
At the start of July, CNBC reported that a Tesla Model S Plaid caught on fire while the driver was actively driving the electric vehicle. The owner noticed smoke coming from the back of the Model S and tried to get out of the car. For whatever reason, the locks did not unlock, and the driver had to break out of the vehicle.
Last week, people started reporting pushback on the new Model S deliveries. While some buyers had confirmation of a pick-up day and time, these dates were suspiciously pushed back for an unknown reason. Owners on the Tesla Motors Subreddit shared text messages from Tesla staff explaining the vehicles were going to “inspection standards that have just recently been updated.” The National Highway Traffic Safety Administration (NHTSA) is aware of the incident and plans on investigating further. These deliveries resumed later this week but without explanation.
Since all of that went down, the company has further pushed back Tesla Model S delivery dates. According to the official website, those who order a Model S Long Range can expect delivery in February or March 2022. The Model S Plaid has been pushed back to September or October of this year.
If you own a Tesla of any kinda, you might want to sell it back
Since so many people are going to be waiting for Model S deliveries, Tesla has been offering top-dollar for trade-ins. One user on Twitter (The Kilowatts) priced out the trade-in value for a 2019 Tesla Model 3 Long Range all-wheel drive model. With the deep blue metallic paint and Full Self-Driving Capability, Tesla offered a trade-in value of $67,500. This Model 3 has 15,000 miles on it currently.
Using the Tesla custom order feature, buyers can price out a brand new 2021 Model 3 with the same specs. The 2021 Tesla Model 3 Performance version in deep blue metallic paint and FSD comes to $67,990. When you value your trade-in through Tesla directly, the offer is good for 30 days. While everyone is trying to get one in the driveway, now is a good time to jump on it.
When you get a trade-in estimate from Tesla, you can apply it to the order of a new Tesla for a week. Or the offer is good for 30 days. As the season changes and new year vehicles are about to come out, these crazy trade-in values are likely going to go down.
The time is now…
Twitter users have been reporting the same high-value trade-in phenomenon. Prices fluctuate a lot, but this would be a pretty good deal if you wanted something besides a new Model S. Most states tend to encourage trade-ins and get a tax break because of it (except in California.)
Another upside to this is the idea of a private sale. Owners of the electric vehicle could probably get even more through a private sale. While supply is down and demand is high, it’s a good time to make money back on a Tesla. However, trading it in directly will be a simple process, while a private sale can be a bit of a hassle.
There are a variety of places those who own a Tesla can get a trade-in value for these days. Carvana, Vroom, and Carmax all offer hassle-free options for pricing out your Tesla. May as well see how much the various companies will give you. That could be a pretty big downpayment on a new vehicle of your choice.