Anyone trading in their RWD Model 3 for AWD or Performance?

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M3 in NC

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#1
Got my model 3 delivered sometime in May, have put on roughly 3K miles on it and enjoying the driving so far. Now the performance version starts to come out and gets delivered, just wondering if it is worth upgrading to it and how much more it will cost on a monthly basis. Needless to say, the driving dynamics will be quite different with P3D, and the potential track mode update could be such a difference maker (not sure if regular M3 will be able to get that, highly likely not). So just want to reach out to the community here to seek some input or answers:
  1. if anyone is thinking about doing the same (or have already done it), and how or what is the best way to do it (trade-in or sell privately?).
  2. If there is a used M3 market out there and what is the fair price I should expect?
  3. Will one person be able to claim two full tax credit of $7500 if two Tesla are purchased but one is sold before year end?
  4. Is P3D insurance significantly higher than the rear wheel drive premium M3? by how much?
Looking forward to all your input and wisdom!
 

dmcmillen

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1. Tesla will lowball the hell out of your trade and not budge. The trade offer on my S was insulting. I’ve heard they’ll match Carnax but never tried myself.

2. Rough guess, $10-12k depreciation on a private party sale.

3. Yes, so long as you have at least $15k in federal tax liability.

4. Unsure, but likely similar as the the Model 3 VIN does not designate between AWD and Performance in the way that S/X VINs do.
 
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1. Tesla will lowball the hell out of your trade and not budge. The trade offer on my S was insulting. I’ve heard they’ll match Carnax but never tried myself.

2. Rough guess, $10-12k depreciation on a private party sale.

3. Yes, so long as you have at least $15k in federal tax liability.

4. Unsure, but likely similar as the the Model 3 VIN does not designate between AWD and Performance in the way that S/X VINs do.

Coming from a 2014 Model S85 to a Model 3PD, my insurance will be going DOWN $26/month, so take that for what it's worth.
 

SoFlaModel3

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The thought has crossed my mind, but I’m unlikely to pull the trigger. If I could sell my car for $50k, it would basically be a wash given the $7,500 tax credit making up for the $7,500 in value loss. I guess I’d be eating sales tax at that point.

In the end though, I’d be spending so much more money when my car is already plenty fast. I don’t track my cars. I use autopilot for a lot of my driving (mostly highway commuting). So basically all of that headache for not enough gain in my opinion.

Side note — will need to buy my wife a Tesla soon enough and a new house within 3 years so this would be a bad decision if I moved on it ;)
 

GDN

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What color and options on your current 3? want to price it? Color?/EAP?/FSD? 18 or 19? VIN above 20K?
 

Tchris

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Got my model 3 delivered sometime in May, have put on roughly 3K miles on it and enjoying the driving so far. Now the performance version starts to come out and gets delivered, just wondering if it is worth upgrading to it and how much more it will cost on a monthly basis. Needless to say, the driving dynamics will be quite different with P3D, and the potential track mode update could be such a difference maker (not sure if regular M3 will be able to get that, highly likely not). So just want to reach out to the community here to seek some input or answers:
  1. if anyone is thinking about doing the same (or have already done it), and how or what is the best way to do it (trade-in or sell privately?).
  2. If there is a used M3 market out there and what is the fair price I should expect?
  3. Will one person be able to claim two full tax credit of $7500 if two Tesla are purchased but one is sold before year end?
  4. Is P3D insurance significantly higher than the rear wheel drive premium M3? by how much?
Looking forward to all your input and wisdom!
State Farm quoted me $78 per year more for the Performance over the Standard AWD.
 

msjulie

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Will one person be able to claim two full tax credit of $7500 if two Tesla are purchased but one is sold before year end?
I asked our accountant and from everything we could gather, yes as the intent for the first car was to actually keep it but d*mn the tease of the performance version.

Where the RWD went..

https://www.givemethevin.com/

Worked for me, suggested by a member in TMC. Not only was it easier* than a private sale I'm sure I got more than I would have otherwise. I even arranged with them to keep my 19" sport rims and exchange the brand new 18" aero rims before bringing them the car at what I thought was a fair discount. I was able to get my new car, scoot right over to Tesla service for the swap and then drop off the 'old' car.

*Don't bring your car in on a Friday as it means the weekend is mostly a wash finishing up the exchange. Since I am in Calif some stuff is done by FedEx and that is gated by the inspectors confirming the condition of the car and they don't seem to work weekends.
 

Dogwhistle

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It’ll probably cost you around $30,000 to upgrade, between the cost difference in cars and the depreciation of the old one. Only you can say if that is worth it.
 
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I got my my Model 3 back in March. Everything is great except the following:
  • Brakes feel a bit weak (totally subjective here, but it's not as confidence inspiring as say, my old E90 BMW M3)
  • Off the line acceleration is anemic. My previous car was an 85D (the non-perf version). Comparing to that, my Model 3 feels downright sluggish from 0-30 MPH.
P3D appears to be the solution to both issues. I just placed my order last night. Hopefully Tesla will start making black interior P3Ds with performance upgrade soon...
 

JMZ

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#11
Hello, all ...

I took delivery of my RWD M3 back in June, and while I adore the car, AWD would be very nice. So, I ordered a PM3 a week or so ago. The delivery estimate says Oct-Dec, which is fine with me. I was thinking of trading in my M3 though, vs. trying to sell it myself. Thoughts? Any ideas on what Tesla would consider a fair trade-in value (RWD M3, PUP, black, EAP, FSD, 19-inch wheels)? I've had the front half wrapped with the XPEL clear protective film.

Regards,

John
 

SoFlaModel3

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#12
Hello, all ...

I took delivery of my RWD M3 back in June, and while I adore the car, AWD would be very nice. So, I ordered a PM3 a week or so ago. The delivery estimate says Oct-Dec, which is fine with me. I was thinking of trading in my M3 though, vs. trying to sell it myself. Thoughts? Any ideas on what Tesla would consider a fair trade-in value (RWD M3, PUP, black, EAP, FSD, 19-inch wheels)? I've had the front half wrapped with the XPEL clear protective film.

Regards,

John
The reason why I’m not doing this ....

So my car was $56,500 + Delivery + other fees + tax

Out the door was somewhere around $61k

So I lose ~10% off the lot: $5,650

And I lose $7,500 because anyone buying it new is likely going to get the full credit still.

That means I swallowed a loss of $13,150 and my car is worth $43,350.

I recoup my $7,500 with my taxes.

So my overall loss is the 10% depreciation + fees + taxes or ~$10,000

So in your case it’s ~$30,000 to jump to the performance car, but you do get a second $7,500 credit (assuming you have $15,000+ in tax liability) so let’s say ~$22,500 to make the jump. At the end of the day potentially not that bad as the MSRP difference is ~$19,000.

Worse in my case as mine is now 6 months old and has 10,000 miles.
 
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SoFlaModel3

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Firewired

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I don't know about trading in the 3. I can vouch for Tesla low balling the offers on trade-ins. We just went through this with our X. Even though Tesla had very few used X's nationwide, both Carmax and Carvana were higher. Carmax with 4k Higher than Tesla and Carvana was 7K. We ended up selling ourselves for $10k higher.
 

msjulie

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And I lose $7,500 because anyone buying it new is likely going to get the full credit still.
I continue to argue this point - you may have a smaller buyer pool yes...


I sold mine to givementhein and I think I did very well even giving new car re-sale deprecation. Yes, the RWD was fine but sometimes emotions overrule.. the P3 is great
 

msjulie

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Another member who recently sold their 3 after getting a P3D: https://teslaownersonline.com/thread...cause-performance-big-brother-is-coming.7878/
That’s crazy to me! The MSRP on that car is $50k and they took it for $46,500.

Anyone buying the car brand new can get the same car and still get the tax credit of $7,500 and then have a car with 0 miles on it.
Yup that was me and yes if you qualify for the tax credit, a used one may not be a deal for you... I have family that doesn't qualify for that credit as surprisingly many will not... you know that saying about assuming ;)

Edit - I wanted to add that my car had the $1500 'red' premium and since that's gone up, it might even make a used one worth a (tiny) bit more..

I fully expect these dynamics to change when more RWD show up for resale due to P3 but also just due to Tesla finally being able to produce enough to sell in real time. And then of course next year, the deductions change...

Honestly I think it will be a toss up between a new SR battery car and a lightly used LR battery car..
 
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