Trade-in offer dropped considerably

[evnow]

In MN you pay sales tax on the difference between the purchase price and trade-in value if you trade. So, for example, if they offer 30K for your trade in on a 100K CT you'd pay sales tax on 70K instead of 100K. If you sell separately to a private party, Carmax, Carvana, etc. you lose out on that discount.

Right - but Carmax etc may give you more than what you'd save in sales tax.

For eg. I'm trading in a Sienna. Carmax has offered $32k. Tesla offer $26k. Even in WA with 10% sales tax, you only save 2.6K by trading in. But the price they are offering is $6k less than what Carmax offers. If you sell private, you will probably get $1k or so more.

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[Giskard]

Right - but Carmax etc may give you more than what you'd save in sales tax.

For eg. I'm trading in a Sienna. Carmax has offered $32k. Tesla offer $26k. Even in WA with 10% sales tax, you only save 2.6K by trading in. But the price they are offering is $6k less than what Carmax offers. If you sell private, you will probably get $1k or so more.

For sure, definitely worth looking into if you have the time and flexibility. I was just pointing out it's a factor and one that's easy to forget about. In my case when I checked back in March before configuring my order Carvana was less than Tesla's trade-in offer (taking into account the tax break) and Carmax wanted to see my car to make a quote. Not too convenient since my nearest Carmax is almost 300 miles away (I will stop in if I have a reason to be down there pre-CT delivery).

 

[GatorCyber]

CarMax completely wasted my time in October and low-balled my Model 3. Carvana was highest, but wanted me to drive it 3 hours to Mobile, AL (hell no) so I got bids from local dealers on KBB or another site and got my best offer from a local Nissan dealer

 

[MikeCyber]

So here is what I was offered:

Carvana: $14,600
Tesla: $12,300
Webuyanycar.com: $13,366
CarMax: $16,000

Easy to guess who I sold my car to this afternoon. 16k already in the bank account.

 

[cobrax65]

Interesting mine went from $21,000 to $22,300. This is for a 2021 Model 3 w/ 19,000 miles and FSD.

 

[Mini2nut]

CarMax cuts you a check the same day.

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