Trade in wiping out loan application

[Osprey22]

So I filled out the loan application first, then proceeded to start the "Trade in" process to see what Tesla would offer me for my 2022 LR M3 and it seems to have reset my loan application. When I attempt to start my loan application it is counting my car as a down payment? Little confused here.

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[E-raticProphet]

I don’t understand the question, are you thinking that your trade in shouldn’t lower the amount of the loan?

 

[Osprey22]

I don’t understand the question, are you thinking that your trade in shouldn’t lower the amount of the loan?

I apologise, when I started the trade in (for quote purposes) after completing the load application, it no longer shows (ie... wiped) my loan application and wants me to start over.

 

[E-raticProphet]

I believe that’s because the amount you want to borrow is changing, so it wants to get the numbers correct. It doesn’t have a concept of just give me a rough estimate.

If you were trading in your Y for a base Model 3, and the loan amount was only $4,000 that would make a difference vs a loan for $37,000.

 

[Osprey22]

I believe that’s because the amount you want to borrow is changing, so it wants to get the numbers correct. It doesn’t have a concept of just give me a rough estimate.

If you were trading in your Y for a base Model 3, and the loan amount was only $4,000 that would make a difference vs a loan for $37,000.

Ah okay, that makes sense. I just freaked out a little inside XD. So best bet is to wait for the trade in offer first before refilling out the loan application?

 

[Ward L]

Seems like many are waisting their time with a Tesla trade in. All the Tesla quotes I have seen are about half the KBB. I tried to trade in my M3 last summer. It was like $25k when KBB was $35k. I have FSD. If you think the FSD is worth $12k, that makes the trade-in about $13k? I was thinking of trading up to a Y, where I woiuld have had to pay $12k for FSD. They were not transferring the software. What happened to the good old days when you could pirate software??? Not that I EVER DID THAT! Long live floppy disks! Sorry, I’m pretty old….

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