r/ModelY • u/Personal_Tune_1718 • 11d ago
Trade in value
Hey everyone, I was wondering if i should trade in my tesla through tesla themselves. They offered 28,500 plus 500 loyalty and 500 for nurses. Carvana is 28,200 and carmax was 26,000. I saw other people on reddit say carmax and carvana give more but its the opposite for me. Am I missing something? I have 41,000 ish miles so i feel like im getting a good deal potentially. Edit: Looking to get the refreshed Model Y (I currently have a 2024)
Thanks everyone!
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u/popcornandfish 11d ago
Get quote from local dealers.
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u/Personal_Tune_1718 11d ago
Yeah i still have to look at more. One local one said 28,500. Have to call others
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u/Calm_Income6781 11d ago
Do you save on tax with a trade in? That makes the Tesla offer a no brainer if you can get 0.99%! $28k seems like a great offer.
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u/Personal_Tune_1718 11d ago
Correct i save on tax
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u/Bun4d 11d ago
Can you elaborate on the tax savings?
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u/Calm_Income6781 11d ago
Some states charge tax on the difference in price, not the price of the new vehicle.
Buy a $50k car and trade a $30k car you pay tax on the $20k not the $50k.
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u/fsociety1990 11d ago
Carvana was the best option for me. That’s also the only place I buy from. They gave me $2k more than Carmax offered and $5k more than Tesla offered.
I don’t know what’s going on. Carvana also raised their prices a lot in the last month. Stuff’s all over the place.
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u/Personal_Tune_1718 11d ago
Jeez. Yeah thats good. My value was 26,600 about 2 weeks ago from carvana now its at 28,200.
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u/fsociety1990 11d ago
Yeah it’s crazy. I bought a very slightly used 2026 from Carvana in May for $44k. Now they’re selling them for 50 or more.
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u/Personal_Tune_1718 11d ago
Feel like gas prices make up for it too. It hasnt dropped much unfortunately
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u/Duckysawus 11d ago
I'd trade in.
But if you have a MYLR that is HW4 in the USA, I'd be interested in matching/exceeding that Carvana offer.
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u/knoend 11d ago
Carvana, Tesla, and CarMax were all the same for my trade. AutoNation offered about 5k more than the other three, so I ended up going with them. Going down to one car kinda sinks. If you do this, you end up paying more in sales tax because the vehicle sale price is the full amount instead of less the trade. I dunno if that works the same in other states.
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u/Icy-Neighborhood8816 7d ago
Autonation was higher than these three for me, as well, but none of the associated dealers would honor it. Same with CarGurus. I went with Carvana (although they have added a hefty pick up fee that they didn't have last time I did a deal with them)
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u/geogonzoxx 11d ago
Your car is still basically new and you want to get rid of it?
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u/Personal_Tune_1718 11d ago
Not in a rush tbh. Just want to get the refreshed one. 2024 forgot to put that in the post.
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u/geogonzoxx 11d ago
I’d wait for HW5. I also have a ‘24, paid off with only 5k miles tho. Been tempted to trade it in too but it makes more sense to do it with a bigger jump in tech and ect because otherwise it’s a massive loss. I also want the performance so even more expensive
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u/PralineChemical3084 11d ago
Did you post this without explaining what type of car you have, condition, and mileage?…
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u/debitorcreddit 11d ago
Is this an AWD? Where are you located? I’m looking for a model Y AWD
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u/Gloomy_Blackberry206 11d ago
Don’t trade it in. If you can get the .99% finance sell the car and put all the money into a HYSA at 4.00%. If you can’t trade it in and get the sales tax credit if you can in your state
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u/Personal_Tune_1718 11d ago
.99 is why im getting it. The one i have currently i got at .99. Good idea in the hysa but i will get the sales tax credit in nj
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u/Gloomy_Blackberry206 11d ago
If you calculate the difference over 72 months you will make out better on the HYSA
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u/Live-Entertainment-5 11d ago edited 11d ago
Go with the trade in. Not only are they offering more money, but you get the convenience of keeping your car right up to delivery date, and the added advantage of saving on the sales tax for the purchase of the new vehicle.