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Trade In's.

delmi

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As delivery gets closer I am beginning to wonder about the closing process, particularly trade ins. One of Rivian's partners is in auto sales and auctions (name ?)which would be a natural for trade ins but I have'nt heard anything about this. Does anyone have any insight into this?
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skyote

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As delivery gets closer I am beginning to wonder about the closing process, particularly trade ins. One of Rivian's partners is in auto sales and auctions (name ?)which would be a natural for trade ins but I have'nt heard anything about this. Does anyone have any insight into this?
You're thinking of Cox Automotive, and that's my guess as well. We don't have any official info on trade ins though.
 

CommodoreAmiga

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Depending on what you are trying to get rid of, you may be better off selling on craigslist (older vehicles) or to a local dealer for that brand, or to CarMax.

The main exception is if your state allows sales tax offset by trade-ins.
 

Kickaha

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I am keenly interested in this topic as well. Its only one of a set of topics that have yet to be addressed but will be critical for many folks to understand before Order Day.
 

sevengroove

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I emailed CS a week or so ago to ask about how trade-ins would be incorporated into their new online-only financing process. Got a characteristically vague response saying those details haven't been ironed out yet. I am also really interested in figuring out how the process works because I will be trading in a leased vehicle, so there's the added step of buying it out from Lexus Financial. Hope they release more info on how this works soon.
 

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Kickaha

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My situation is a little easier - I am trading in a paid off 2016 Tesla Model X. But it sure seems to be problematic that 6 months before delivery they have not "ironed" out their financing plans. I hope its more a matter of they DO have them ironed out but are not ready to announce them quite yet.
 

Guards Red Car

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How does Tesla handle Trade - Ins ? Is there ANY room for negotiation on the value of the trade ?
 

Kickaha

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How does Tesla handle Trade - Ins ? Is there ANY room for negotiation on the value of the trade ?
My info is over 5 years old at this point but when I did a trade with Tesla, there was no negotiation - take it or leave it. Now that there is pressure to keep the sales pipeline moving? I have no idea.
 

azbill

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Depending on what you are trying to get rid of, you may be better off selling on craigslist (older vehicles) or to a local dealer for that brand, or to CarMax.

The main exception is if your state allows sales tax offset by trade-ins.
Trade in values are usually 25-30% less than selling to a private party. That never makes up for the state sale tax. That is why I personally never trade in a vehicle.
 

CommodoreAmiga

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Trade in values are usually 25-30% less than selling to a private party. That never makes up for the state sale tax. That is why I personally never trade in a vehicle.
Usually, yes. There are exceptions. When trading in a relatively new vehicle (such as only a year or two old) then it may still make sense. I actually did a deal, a few years ago, where I was able to offset 100% of the tax for the new purchase. Selling the vehicle privately would have been a hassle, and I’m not sure I would have been able to do better, anyway.
 

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CommodoreAmiga

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How does Tesla handle Trade - Ins ? Is there ANY room for negotiation on the value of the trade ?
I looked at a Model Y a few weeks ago and did the trade-in evaluation. They said there was ZERO room for negotiation — both for the trade-in and the purchase. Tesla doesn’t really want your trade. They partner with someone else and the vehicle goes straight to auction, afaik. Tesla only streamlines the trade process because customers expect it.
 

ATL_Canes

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Another thought/question is whether they’ll be offering any sort of premium for trading in EVs. I vaguely recall Audi offering incentives if you trade in a Tesla for an e-tron when they first hit the market.
 

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I am not sure how Carmax, Cargurus, or Carvana work when trying to sell a car, but I've had great luck buying through CarGurus in the last five years. Both were "Certified Pre-owned" and have performed flawlessly, aside from small issues that Volvo and Cadillac both took care of through their CPO warranty programs. For those with Teslas, I have no idea if they utilize a CPO program by which to certify and warrant the condition of the vehicle for the next owner.

That said, I'm also hoping Cox provides a solid deal and easy platform to all who want to trade in a vehicle.
 

DucRider

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Anytime you trade, you will be getting wholesale and not retail value. Selling privately will yield more.
There are numerous companies that will make you an offer and come take your car away, all are usually similar in price and will also be similar to Rivian or Tesla. Worth checking around as occasionally one of them will have a better price than the others.
 

CommodoreAmiga

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Another thought/question is whether they’ll be offering any sort of premium for trading in EVs. I vaguely recall Audi offering incentives if you trade in a Tesla for an e-tron when they first hit the market.
Doubtful. Audi is an established auto maker trying to take market share from Tesla. They also had a hard time selling their e-tron inventory and had to heavily incentivize buyers.

Rivian is not in that position. I’m guessing they’ll have more purchase demand than they have manufacturing capacity, for a while.
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